Election Financial News

Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has seen a remarkable growth in crypto assets under its custody. 

Mallikarjun Kharge after the threat perception report of central intelligence agencies, news agency ANI reported citing sources. The Central Reserve Police Force (CRPF) will provide security cover to the Congress president, the report said. The report claimed that the Union Home Ministry ordered the Z plus security cover to the senior congress leader following reports by federal intelligence agencies highlighting the threat perception on Congress president Kharge.

Arvind Kejriwal will receive a notice by the CBI (Central Bureau of Investigation) under CrPC (Code of Criminal Procedure) Section 41A in the next two days, and he will be arrested by both the CBI and the ED (Enforcement Directorate)," Atishi said. She said AAP leaders started receiving threat messages ever since the reports emerged about the Congress and the AAP finalising their seat-sharing deal for the Lok Sabha Elections. "We all know that the deal is almost finalised," she said.

Congress MLA and Baba Siddique's son Zeeshan Siddique on Thursday said he will remain with the Congress party but will keep his options open. This comes after the President of Mumbai Pradesh Youth Congress, Zeeshan Siddique said communalism in Congress and youth Congress was more than outside. He said Muslims were discriminated within the party. Zeeshan Siddique was elected to the assembly in 2019. He defeated Shiv Sena leader and former mayor Vishwanath Mahadeshwar. Earlier this month, Maharashtra minister Baba Siddique quit Congress and joined NCP in the presence of party chief and Maharashtra Deputy CM Ajit Pawar.

Bharat Dynamics has pared its revenue guidance to ₹2,900 crore - ₹3,000 crore from ₹3,200 crore in FY24 versus, implying a 21% growth versus FY22, according to a report by Elara Capital. The brokerage estimates of ₹3,180 crore revenue. The company expects revenue to grow to ₹4,000 crore in FY25E and to ₹5,000 crore in FY26, led by execution of Astra Mk1 Beyond Visual Range Air-to-Air Missile (BVRAAM), ATGM, Akash, and exports.

announcement comes after a nearly two-week-long political deadlock in the country following the February 8 elections, which resulted in a hung assembly with no party securing the 133 seats mandated for a simple majority out of 265 contested seats in the Pakistan National Assembly. The Pakistan Muslim League-Nawaz won 79 seats while the Pakistan Peoples Party came third with 54 seats. The Muttahida Qaumi Movement Pakistan (MQM-P) has also agreed to support the coalition with their 17 seats.

₹4,919 crore from Indian stock markets, a marked decrease from the ₹29,177 crore divested in the 15 days through 31 January, according to data from the National Securities Depository Ltd (NSDL). Financials services saw the most selling, with FPIs dumping stocks worth ₹7,536 crore, primarily driven by a decline in HDFC Bank shares after the lender reported a year-on-year net interest income growth of 24% to ₹28,470 crore, falling short of market expectations. Here as well, the selling moderated from the previous fortnight when ₹31,261 crore worth of shares were liquidated.

₹5,389 apiece. Investors continued to express optimism following the company's impressive performance in Q4CY23. In the previous trading session, the company's shares hit a 10% upper circuit limit after it released its Q4 results on Tuesday, surpassing analysts' expectations.

Jimeet Modi, founder and CEO of SAMCO Group expects high volatility ahead of the General Elections. He says Investors must stay light ahead of the election and may even consider diversifying their portfolios into other assets like gold and debt. In an interview with Mint, Modi said there are pockets of overvaluation in defence, engineering, railways and infrastructure segments while defensives like pharma and FMCG sectors offer considerable safety in terms of volatility.

Alberta Premier Danielle Smith promised not to cut spending this year in a pre-budget speech on Wednesday but said the province still needs to show more restraint than previously expected.

Pankaj Pandey, Head Research, ICICIdirect.com, says “we still have enough firepower to take Nifty to much higher levels and if election outcomes come on expected lines, then overall we will not be surprised if 25,000 is very much likely on Nifty. Also, in March, a 3-4% kind of upside is very much on the cards. ” Bulls are lacking energy. The thunder is not there. Markets are making all-time highs, but that is just optics. The underlying fabric of the market in the last 8-10 days seems to be getting slightly weak. Pankaj Pandey: At 22,000 levels, obviously it is a psychological level, some bit of nervousness is understandable. But our sense is that typically during a month of, say February and March, the market usually tends to correct and from there on, panning out in a better direction. Our sense is in March, probably a 3-4% kind of upside is very much on the cards.

IOC share price has gained over 36% in 2024 so far, the stock is up more than 75% in the past three months. BPCL shares have jumped 36% YTD and over 53% in three months, while HPCL share price has surged 34% YTD and 75% in three months.

Internet outages, and restrictions on social media applications like X (formerly Twitter) were imposed in Pakistan on Saturday after a senior government official made a public admission of vote manipulation in the February 8 election. US State Department spokesperson Matthew Miller on Wednesday said that the US is concerned by reports of restrictions on the exercise of the freedom of expression and association in Pakistan, "including the partial or complete government-imposed internet shutdowns, which includes, of course, on social media platforms." He added that Washington continues to call on Pakistan to respect freedom of expression and "restore access to any social media that has been restricted, including Twitter, now known as X." Miller said the US concerns had been communicated to Pakistan through official channels.

Supportive global geopolitics: As per the brokerage India has a vibrant democracy with 57 national/regional parties. The upcoming national elections in Apr/May’24 will have 1bn eligible voters. Successive governments have adopted consistent growth & external relations policies.

After more than a year of rate-tightening cycle, economies world over are likely to see liquidity conditions ease and interest rates trend lower later in 2024. In such a scenario, Arindam Mandal, portfolio manager at Marcellus Investment Advisors anticipates a gradual return to the traditional 60/40 model of asset allocation for the average investor, consisting of 60% equities and 40% bonds. “This allocation strategy endured a challenging period over the past couple of years. Historically, election years have often translated to favorable returns, providing a promising outlook for the calendar year ahead,” Mandal said in an interview with ETMarkets. For Indian investors, Mandal recommends a 70% allocation to domestic equity and a 30% allocation to global equity, striking a balance between local opportunities and exposure to international markets. Edited excerpts:

Ajay Bagga, Chairman, Elyments Platforms, says “wherever there is a compliance whiff also I think you are best served by sticking to the straight and narrow. If you want to take that kind of risk on smallcaps that is okay, on a 30-stock portfolio you say okay 2% or 5% I will risk on a couple of smallcap stocks but in a centre of plate or large companies to see governance issues or compliance issues, that becomes a very big red flag and especially in India. When you have so many alternatives, why go down that route?” What is happening to the markets? We reached fresh high levels and then this sudden bout of profit booking comes in. Do you think we are close to the top for the year or at least for the first half of the year? Ajay Bagga: Difficult to say that. But I think the big trend is that foreign investors have been selling as a cohort. Within that, there are different types of investors, of course. But FII selling is one characteristic of this market.

₹11.11 lakh crore in FY25). Since 2014, the Government of India has accorded significant importance to infrastructural and developmental initiatives. The same is evident in sectors like cement, which have experienced steady growth over the past 5–6 years.

Indian Premier League will be announced by the BCCI at 5pm today. The announcement can be watched live on the JioCinema app and Star Sports network. The BCCI's announcement today is expected to be for just the first 15 days of the IPL, while the rest of the fixtures are likely to be finalised by the Indian cricket board after the Election Commission announces the dates for the 2024 Lok Sabha elections.

As India’s Lok Sabha polls approach, political parties have reportedly contacted digital content creators and podcasters to help get their messages across. Of course, major parties have IT cells on the job, too, but too random an outreach would enlarge the risk of losing integrity control.

Rajya Sabha Elections 2024: As many as 41 of the total 56 leaders were elected unopposed to Rajya Sabha on Tuesday. The returning officers declared these 41 leaders winners on the last date of withdrawal of nominations as there were no other candidates in the fray on these 41 seats. Among these 41 leaders were former Congress chief Sonia Gandhi, Bharatiya Janata Party (BJP) chief JP Nadda, Ashok Chavan and Union ministers Ashwini Vaishnaw and L Murugan.

A protester has died as thousands of Indian farmers resume their march to the capital after talks with the government failed to end an impasse over their demands for guaranteed crop prices