Election Financial News

Allahabad at Uttar Pradesh's border with Madhya Pradesh. Scores of villagers, including women and children, have gathered outside Khoota village under a tent. Soon, a convoy of SUVs arrives with workers of the Samajwadi Party and the Congress led by INDIA bloc candidate Ujjwal Raman Singh. Singh alights from his Toyota Fortuner and exchanges pleasantries with villagers and local party workers before taking the microphone to address the crowd. «What do the farmers want? Electricity, tubewell, and lift canal so that they get water for their crops. The BJP keeps boasting of its double-engine government and does nothing on the ground,» Singh said, adding that the local MP, the state's CM and the country's PM are all from the BJP yet the party has failed to ensure the welfare of the people of the constituency. «Bhartiya Janata Party ke logan ki neeti aur niyat saaf naahi ba (The BJP people do not have a clear policy and intention),» Singh said in the local 'Ilahabadi' dialect.

Mark Mobius, Chairman, Mobius Emerging Opportunities Fund, says in India, he is going to be looking at largecaps going forward because some of these largecaps have lagged behind the smallcaps. Incredible growth has been seen in the mid and smallcaps and now it is time for some of these largecaps to catch up. The whole infrastructure sector is particularly interesting and in the power sector, hydro power should not be forgotten. NHPC could be making a very interesting entry into hydropower area. One of the most interesting aspects of these companies is that they are not only exposed to growth in India, but also growth globally. What do you do about the valuations in the public sector entities because they have seen a massive re-rating in the last 12 months and in all certainty it seems like the current government is going to come back to power? Do you expect this momentum rally to continue or do you think the bulk of the rally and the value has already been tapped into? Mark Mobius: There is no question that there will be a correction.

India is nearing the end of weeks-long election battle in the world's largest democracy, job talks are taking center stage with the Prime Minister and Opposition making opposite claims. BJP, the ruling party, led by Prime Minister Narendra Modi, is talking up good signs in employment, but the opposition, especially Congress leader P. Chidambaram, isn't buying it, asking tough questions and stirring up the conversation. In a recent chat with The Economic Times, PM Modi, who is seeking to return to power for a third term, boasted about job growth in India. “Look at the indicators which prove the job generation. The returns filed by individual taxpayers more than doubled from 3.36 crore in 2013-14 to 8.18 crore in 2023-24,” Modi said. Also Read: Is India suffering from an unemployment issue? PM Modi says the country is generating jobs

Abki baar 400 paar slogan came from people's hearts. “From 2019 to 2024, we had 400 seats with the support of our allies. For example, if a child in your family scored 90 marks, and his competitors only got around 40 marks, you will always encourage your kid to achieve 95 marks next time.

UK general election gathers momentum after British Prime Minister Rishi Sunak surprised many this week with a snap summer poll on July 4, exactly a month after India's election results on June 4, the prospect of an India-UK free trade agreement (FTA) has been kicked into the long grass. While political analysts and strategic experts have expressed confidence that very little should change on the bilateral relationship front whatever the outcome in either election, the very small window that was open for a deal being clinched by the Sunak-led Tory government has now been swept away in the election wave of both countries. The Opposition Labour Party, in the lead in most pre-election surveys, has committed itself to «finish the job» but the timelines will remain uncertain for some time.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today - May 24Meanwhile, volatility is increasing ahead of the election phases which could cause a bumpy ride in the market for the time being. Taparia believes India VIX needs to fall below 16-18 zones for stability and a smoother ride in the market.Option data suggests a broader trading range in between 22,500 to 23,500 zones while an immediate range between 22,700 to 23,200 levels.The Bank Nifty index witnessed strong buying interest on Thursday as it surged over 1,000 points from lower levels.

BJP candidate from Chandauli Lok Sabha seat, Mahendra Nath Pandey, came out in praise of Prime Minister Narendra Modi while taking a swipe at the Congress' alleged poll promise of a nationwide wealth survey and redistribution, saying that the poor, farmers, women and youth should have first right on the country's resources. Pandey's response came on the heels of West Bengal Chief Minister Mamata Banerjee's defiant statement after the Calcutta High Court rendered all OBC certificates issued by her government since 2010 void. Hours after the high court scrapped OBC (Other Backward Classes) certificates issued in West Bengal after 2010, Mamata came out in opposition to the order saying that OBC reservation will continue and that she is prepared to move to higher courts if needed.

short covering, improving investor’s sentiments towards the election outcome and healthy macros highlighted by the record dividend payout by RBI. «We expect this Positive momentum to continue on the back of an improving political environment, continued short covering by FIIs, and strong domestic macros. Sectors like Defence, Banking, and Railways are expected to remain in focus,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.

India's benchmark indices soared to fresh all-time highs on Thursday as the Reserve Bank of India's larger-than-expected dividend payment to the government prompted traders to cover some of their bearish bets. Receding uncertainty over the BJP's performance in the general elections also bolstered sentiment, with the NSE Nifty ending a whisker away from 23,000. The key index closed at a record 22,967.65, up 369.85 points or 1.64%, after hitting a peak of 22,993.60 during trade. The BSE Sensex rose 1,196.98 points, or 1.61%, to end at 75,418.04.

Ambala Lok Sabha constituency of Haryana, which goes to polls in the penultimate phase on May 25, is set to see a fierce bipolar contest between the ruling BJP and the Congress. The BJP's Banto Devi Kataria (59), the wife of late MP Rattan Lal Kataria who won the previous two elections in 2014 and 2019 by handsome margins, is seeking a fresh term in the Lower House this year. However, he faces a doughty rival in the form of sitting Congress MLA from Mullana (reserved) assembly and the son of veteran Congress leader Phool Chand Mullana, Varun Chaudhary (44). The reserved seat for Scheduled Caste candidates comprises the entire Ambala and Panchkula districts as well as part of Yamunanagar district.

Top Events on May 24: India is all set to witness various political, legal, sports, and entertainment events including PM Modi's elections rallies in Punjab and Himachal Pradesh, Mayawati's poll campaign in Punjab, voter numbers case hearing in Supreme Court, Pune Porsche crash case, cyclone Remal alert, and others today, Friday. Take a look at the top events of the day below, - Prime Minister Narendra Modi will address Lok Sabha election rallies in Punjab's Gurdaspur and Jalandhar constituencies today.

Joe Biden seeking to dissuade people from voting for him in New Hampshire's Democratic primary election, the New Hampshire Attorney General's Office said on Thursday.Steven Kramer, 54, faces 13 charges of felony voter suppression and 13 misdemeanor impersonation of a candidate charges after thousands of New Hampshire residents received a robocall message asking them not to vote until November. Kramer faces a series of initial court appearances starting on June 14 in Merrimack Superior Court.A lawyer for Kramer could not immediately be identified.

external affairs ministry has received a request from the Karnataka government to cancel the diplomatic passport of Janata Dal (Secular) MP and alleged sex offender Prajwal Revanna, and the matter is being «processed», said people familiar with the matter. «The ministry has received a letter from the Karnataka government for cancellation of diplomatic passport in respect of MP Prajwal Revanna. It is being processed,» said one of the persons, who did not wish to be identified. Revanna, who is seeking re-election to the Lok Sabha from Hassan as NDA candidate, left the country a day after the April 26 polls using a diplomatic passport.

disinvestment of state-run Shipping Corporation of India (SCI) and NMDC Steel will gather traction once the general election concludes in early June, a person close to the development said. The government is in the process of finalising the composition of the board of Shipping Corporation of India Land and Assets Ltd (SCILAL), created by hiving off the non-core real estate assets of SCI, to comply with regulatory requirements for the entity's listing. The Centre will invite financial bids for its entire 63.75% stake in SCI soon after the demerged entity, SCILAL, is listed. While SCILAL will remain with the government, SCI, with its core assets, will be privatised. Last year, the Maharashtra government waived off the stamp duty pertaining to the demerger of SCILAL, acceding to the Centre's request. The stamp duty, according to industry estimates, was in excess of ₹250 crore. With this, the government had crossed a key stage in its bid to get SCILAL listed. «These (privatisation of SCI and NMDC Steel) will be pursued vigorously after the election,» said the person quoted above.

elaborate arrangements to ensure peaceful polling in Anantnag-Rajouri Lok Sabha constituency, which is going to polls in the sixth phase on May 25. The officials held separate meetings on enhancing coordination and ensuring robust security measures across the region. The administration has deployed additional companies of police, Army, CRPF, BSF and other paramilitary forces to reinforce the security in sensitive areas. Checkpoints have been erected on all major roads of the constituency. Recently, there were two separate attacks in this constituency in which a former Sarpanch associated with BJP was killed in Shopian and a couple from Rajasthan was injured in another attack near Pahalgam area in Anantnag.

Congress has questioned the very rationale of ECI's counter affidavit, against pleas seeking disclosure of Form 17Cs and alleged that ECI, by doing so, «is falling into the trap of BJP» to «orchestrate the demolition and destruction of the electoral democracy». Congress also dismissed ECI advisory to BJP and Congress presidents — asking them to restrain their respective star campaigners from doing divisive campaign — as «a response of fudging of delightful ambiguities and vagueness of sermonising and avoiding the real issues».

Election Commission of India issued a notice to BJP chief JP Nadda directing him to restrain the party's star campaigners from making communal statements, Prime Minister Narendra Modi on Thursday alleged that for Congress and its allies, their vote bank is more important than the nation. «For Congress and Indi Alliance, more important than the country is their vote bank. They divided the nation for their vote bank… Created Bharat and two Muslim nations. Now, the Indi Alliance is saying the first right to the remaining resources of Bharat is of Muslims,» he alleged at an election rally in Bhiwani, Haryana. Modi also addressed a rally in Patiala where Preneet Kaur is the BJP candidate.

Yadav said, "Mahaul tana-tan tana-tan tana-tan, BJP safa-chat, safa-chat safa-chat, INDIA alliance ko vote mil raha hai thaka-thak, thaka-thak, thaka-thak."By this, he meant the atmosphere is absolutely stunning, the BJP will be ousted from power at the Centre and citizens are voting for the INDIA bloc in the Lok Sabha Elections 2024.Yadav's reaction was a response to a question about PM Modi and Amit coming to Bihar to campaign for the Lok Sabha elections. Amit Shah is scheduled address rallies in Bihar's Ara at 11:30 am on Friday.

₹4.2 trillion overnight. Foreign investors trooped in after selling for two months, lifting India's stock market -- the world's fifth-largest and snapping at the heels of Hong Kong -- to a closing high of $5.05 trillion. Foreign portfolio investors (FPIs) bought shares worth a provisional ₹4,670.95 crore on Thursday, while domestic institutions settled for ₹146.51 crore.

Investments by private equity and venture capital funds declined by 35 per cent to USD 4.4 billion in April compared with USD 6.8 billion in the year-ago period, a report said on Thursday. The number of deals in April stood at 98, which was 56 per cent higher than the year-ago period, the report by EY, a consultancy firm, and industry lobby grouping IVCA said. "PE/VC investors continue to remain cautious due to global uncertainties, geopolitical tensions, and the ongoing Indian general elections," the consultancy firm's partner Vivek Soni said, adding that the activity will be subdued till the outcome of the election is decided. In April 2024, there were nine large deals of over USD 100 million, worth USD 3.1 billion, which is a 48 per cent decrease compared to the USD 6 billion across 11 deals in April 2023, the report said.

Chief Minister Siddaramaiah on Thursday asked banks not to adjust drought relief funds the government has released to individual farmers through a direct benefit transfer (DBT) against the dues of their agriculture loans. The CM, who chaired a meeting of deputy commissioners and zilla panchayat CEOs in the presence of ministers and department secretaries, said officials must ensure farmers got loans for the oncoming crop season on time. The government had already sent this year's agriculture credit plans, and officials must now act by coordinating with bankers in districts, he said. Siddaramaiah disapproved of the way insurance firms were handling the crop loss insurance claims. Such conduct would bring bad name to the government, he said, and asked officials to discuss with insurance firms and make life easy for farmers.