Election Financial News

CNBC-TV18, “I have already accepted the ministerial position and I have been sworn in."The Congress unit of Kerala claimed on Monday that actor and BJP MP Suresh Gopi "wants to quit" just hours after taking oath as the Minister of State. Posting a video clip on Monday, the Kerala Congress took a dig at the BJP and Prime Minister Narendra Modi, alleging that Gopi, who took oath as a minister on Sunday, now "wants to quit because he wants to do films!"However, the BJP MP reportedly refuted the claim and told CNBC-TV18, “I have already accepted the ministerial position and I have been sworn in."|#+|Suresh Gopi is the first and only BJP MP from Kerala, He won the Thrissur seat in the recently-concluded Lok Sabha Elections 2024.

Wipro, Infosys, Tech Mahindra, Coforge, Persistent Systems and LTIMindtree shares that gained over 3-4% each. The index showed a significant outperformance over broader indices.Gains in IT stocks came on the back of portfolio shift after the election outcome, increased hopes of interest rate cut by the US Federal Reserve, particularly after the rate cut announcements by Bank of Canada and European Central Bank (ECB) and relative valuation, analysts said.The CME’s FedWatch tool, based on futures prices, puts around 50% odds on at least one rate cut by the Fed’s September meeting.Also Read: Nifty 50 can add 1,200 points in June, says Nirmal Bang; lists 2 technical and 2 fundamental stock picksDipeshkumar Mehta, Senior Research Analyst at Emkay Global Financial Services believes the start of the interest rate-cut cycle would act as a signaling trigger for clients of Indian IT companies gaining confidence on inflation trajectory and macro stability, which may drive demand recovery and an uptick in discretionary spending.

election outcome, a rally in consumer stocks was seen, which is mainly attributed to portfolio allocation. We believe this rally in staple stocks is driven by not only its ‘defensive sector’ tag but also the underlying excitement, which was triggered by strong post-Q4 management commentary.

Whatever the reason, the timing did not just frustrate his own party members, who have been forced to cancel their summer annual leave, but also House of Lords member Ros Altmann and the investment trust sector. In November last year, Altmann submitted a private members bill urging the government to remove investment companies from the Alternative Investment Fund Managers Directive (AIFMD) regulation. 'My bill is lost': Ros Altmann confirms progress on trust cost disclosure reforms undone by general election The bill also called for the removal of the current EU cost disclosure rul...

Pakistan Prime Minister Shehbaz Sharif on Monday congratulated Prime Minister Narendra Modi on taking oath. This was Pakistan’s first response to NDA’s victory in the Lok Sabha election.

The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for May 2024. According to the data, the Indian Auto Retail sector achieved a 2.61% YoY growth in May 2024, owing to positive rural demand due to expected good monsoon and improved finance availability kept the counters ticking.

Income Tax laws offer tax deductions on donations to specific registered institutions. However, recently, donors contributing to charitable organisations and political parties have received notices from the income tax (I-T) department questioning the legitimacy of their donations.

Former United States President Donald Trump is ramping up his advocacy for cryptocurrency, now setting his sights on becoming the “crypto president.”

The outcome of India’s election was quite singular, compared with 2014 and 2019. All major parties celebrated it. The NDA was happy because it returned to power, the Congress and INDIA were happy that they did better than in the past, while regional parties were pleased they came out stronger in their states.

Bandi Sanjay Kumar, the former president of the Bharatiya Janata Party (BJP) in Telangana, took oath as a Union Minister in Prime Minister Narendra Modi's new government, his mother, Bandi Shakunthala, expressed overwhelming joy. «I am proud that my son has gone from gully (streets) to Delhi. My happiness cannot be described in words. I have talked to him (son) over the phone. My family and I thank PM Narendra Modi,» Bandi Shakunthala said speaking to reporters on Sunday.

Motilal Oswal Financial Services Ltd, suggests that the market will remain volatile but with an upward trend, fueled by revived hopes of a US Federal Reserve rate cut in September and the allocation of key cabinet portfolios in the new Indian government. (Read the full story here.)Sensex Today Live : Indian markets were likely to be weighed down by the muted sentiment flowing from global peers as hopes of a sooner rate cut by the US Federal Reserve faded on the back of better-than-expected labour market data in the US.Notwithstanding the boost in sentiment from the formation of a new Union government in India, Gift Nifty futures was trading at 23,310, marginally ahead of Friday's Nifty 50 close of 23,290, indicating a muted to positive opening for India on Monday.Asian stocks sank on Monday as traders heavily pared back on bets for Federal Reserve rate cuts this year given a still-tight U.S.

A few days ago in my colony, I overheard a quarrel between a man who lived in a villa, like me, and a gardener. The master wanted some additional work to be done, and the gardener said that would cost him a few hundred rupees more. The master exploded in rage at the “greed" and poor work ethics of migrants.

Oil prices nudged lower for a second straight session on Monday, weighed down by a firmer dollar as expectations of interest rate cuts were pushed out further following strong U.S. jobs data on Friday. Brent crude futures and U.S. West Texas Intermediate crude futures slipped 4 cents to $79.58 and $75.49 a barrel, respectively, by 0036 GMT.

«Of course, the pocket where we have seen the best combination of growth and value have been private sector banks, that remains a reasonably large allocation for us. Healthcare services remain a decent allocation, both across hospitals, diagnostics, and pharma,» says Pramod Gubbi, Marcellus Investment. How did you manage to kind of tap into this opportunity that the market threw up in terms of making money? What was the action like at Marcellus? We are known for our inaction. We are long-term investors. We rarely react to such events and that has been the case this week as well. We have barely changed any of our portfolio positions. But going into a volatile event, our style of investing and our sort of portfolio which is comprised of strong businesses fundamentally with strong balance sheets, always tend to do better in times of adversity.

euro fell on Monday as the French President Emmanuel Macron called a shock election after being trounced in the European Union vote by the far-right, while the dollar was steady ahead of the Federal Reserve meeting later in the week. The euro fell to $1.0764, its lowest since May 9, in early trading in Asia. It was last down 0.24% at $1.0776 as investors weighed the implications of renewed political uncertainty in the euro zone's second-biggest economy in a key election year.

Asian stocks sank on Monday as traders heavily pared back on bets for Federal Reserve rate cuts this year given a still-tight U.S. labour market, while a snap election call in France sparked wider political concerns and weighed on the euro. Trading was thinned in Asia with Australia, China, Hong Kong and Taiwan out for public holidays, but MSCI's broadest index of Asia-Pacific shares outside Japan still slumped 0.46%.

Narendra Modi and his team of 71 took oath in a grand ceremony at the Rashtrapati Bhavan, the record-equalling Modi 3.0 retained key faces from the outgoing govt while inducting many new ones. All eyes are now on who gets what portfolio.

defence and infrastructure plays also offer strong earnings growth prospects, but we find limited upside at current expensive valuations, which are pricing in all the good news. We expect the Union government to achieve a lower fiscal deficit of 5% in FY25.

₹45,000 crore in assets, Waterfield is currently India’s largest registered investment adviser. The firm is majority-owned by Rajan but has minority stakes held by the Patni Family Office and Zephyr Management, its overseas partner. Excluding her stake in Waterfield, the bulk of Rajan’s money is in the public markets.

Ujjwala scheme, Jal Jeevan mission, Swachh Bharat Abhiyan, and Housing for All initiatives. In Q4, the management of most FMCGs had noted action plans regarding enhancing prospect with distribution expansion." The forecast is in line with the findings of consumer intelligence firm NielsenIQ (NIQ), which reported that rural FMCG demand had outpaced urban markets for the first time in 15 months in the March quarter, although urban shoppers more than made up with increased spending on packaged items.Meanwhile, in their March quarter earnings commentary several large companies maintained a positive outlook on demand for the ongoing fiscal year.

Lok Sabha is likely to have its first sitting soon, the question is who will become protem Speaker. Since this role usually goes to the seniormost MP, the focus was on Virender Kumar of BJP and Kodikunnil Suresh of Congress — the two leaders belonging to the Dalit community, with both in their eighth term. But with Kumar now becoming a minister, will the ruling side let Kodikunnil act as protem Speaker or pick a comparatively junior one from the NDA side for the job?