Election Financial News

Bharatiya Janata Party (BJP) led Mahayuti alliance in Maharashtra assembly elections. It was a broad based rally panning all sectors but bank stocks stood out. While the benchmark S&P BSE Sensex settled at 80,109.85, up by 992.74 points or 1.25%, the broader Nifty closed at 24,221.90, higher by 314.65 points or 1.32%.

Subscribe to enjoy similar stories. China’s industrial overcapacity became an issue of global concern even before the election of Donald Trump. Now his threat to place tariffs of 60% or more on Chinese exports will elevate the issue even further.

Tesla CEO Elon Musk of abolishing the Federal Reserve (Fed) aligns with US President- elect Donald Trump's economic vision which potentially increases Elon Musk's influence in the government, reported GO Banking Rates. According to GO Banking Rates, Elon Musk eventually expressed support for dismantling the Fed by sharing a post from Senator Mike Lee, who actually criticized the role of Fed in US economic policy. Eminent experts have already warned that abolishing the Fed could eventually lead to significant economic upheaval which will include heightened inflation volatility and increased borrowing costs for consumers. Also Read :This 45-year old tech CEO eats his final meal at 11 am in the morning; what is the logic and why is he doing this?

News of Donald Trump’s election win sent Bitcoin soaring to record highs after he rebranded himself as a pro-crypto candidate on the campaign trail.

French far-right leader Marine Le Pen has threatened bring down France’s minority government by the end of the year unless changes are made to the country's budget bill

President-elect Donald Trump nominates Key Square founder Scott Bessent as his pick for Treasury secretary.

Subscribe to enjoy similar stories. Bitcoin prices have surged 40% since Election Day. MicroStrategy has climbed even faster.

money laundering case against a website that allegedly indulged in online betting on 2023 Lok Sabha election results apart from an illegal broadcast of IPL cricket matches, the agency said on Monday. A provisional order under the Prevention of Money Laundering Act (PMLA) was issued last week (November 22) to attach demat account holdings and immovable assets like land plots, flats and commercial warehouses located at Ajmer (Rajasthan), Kutch (Gujarat), Daman, Thane and Mumbai (Maharashtra) in the case against the portal named Fairplay, it said in a statement. The central agency said Fairplay was involved in «illegal broadcasting of cricket/IPL matches and various online betting activities including results of Lok Sabha Elections 2024.» The total value of these assets is Rs 219.66 crore, the ED said.

Congress on Monday demanded that the Election Commission take action against IPS officer Rashmi Shukla for allegedly violating the model code of conduct during the Maharashtra assembly elections by meeting Deputy Chief Minister Devendra Fadnavis. The Congress's chief spokesperson, Atul Londhe, claimed Shukla met Fadnavis, the state home minister, when the model code of conduct was in place. The IPS officer reportedly met Fadnavis at his official residence on the evening of November 23, the day votes were counted. Earlier this month, the Election Commission had directed the Maharashtra government to transfer DGP Rashmi Shukla with immediate effect following complaints from political parties, including the Congress.

Ankur Rudra of JPMorgan says on a broad-based basis, we do not have the visibility that industry growth is going to double digits yet and hence, as we go towards the end of FY25, we may not have the momentum we need for FY26 to be a double-digit growth year. More specific sectors are doing well. Some sub-segments like financial services, maybe parts of high-tech are doing well. Some of the midcaps are doing well but broad-based recovery is still elusive. If there is any kind of macro impact, that is the main sort of headwind to watch out for. A lot of questions are being raised about whether Indian IT services can catch up with the AI boom or whether services providers will manage to beat the product manufacturers dominant in the US? What is your view? Ankur Rudra: On the AI side of the equation, it is useful to take a step back and remember that tech services companies effectively tend to implement a lot of the new technology that comes by. At the moment, it is AI, before this was cloud. So, to implement AI at an enterprise level, most large enterprises will need IT services companies to help them with doing that to integrate IT and AI into their processes. I think there will be a role for them.

volatility over the past three decades mirrors that of Indian equities, says the Alpha Strategist Report by Motilal Oswal Private Wealth (MOPW), however, it is to be noted that the former’s returns have fallen slightly short. “Silver has provided returns of the CAGR of 7.6% from 1990 to 31st October 2024, Indian Equities have recorded a CAGR of 14.0% during the same period,” said the report.

Subscribe to enjoy similar stories. The thumping victory of the Bharatiya Janata Party and its allies (Mahayuti) in Maharashtra assembly election means political stability with more synchronization of economic policies between the Centre and the state. The Mahayuti coalition’s promise of increased focus on planned urban development in Mumbai bodes well for real estate developers, construction, and infrastructure stocks.

Sensex rising over 3,000 points, animal spirits are back on Dalal Street as Street favourite NDA's victory in Maharashtra elections made investors look beyond the downgrades seen in the forgettable Q2 earnings season. PSU stocks and those linked to the capex theme were the biggest gainers in Monday's session and rallied up to 11% with PSU rail stock RITES leading the charge. PSU bank stocks, led by the Central Bank, surged up to 8% while construction stocks like J.Kumar Infraprojects shot up to 16% during the day.

A spate of iconic rebrands in recent weeks have left some people reeling in a consumerist society where what we buy says a lot about who we are

Uddhav Balasaheb Thackeray Sena in a bizarre demand has asked to stay the assembly results and hold fresh elections through paper ballots. “ We have made 450 complaints against the EVM machines in these elections, the elections were conducted as per procedure. We are saying that stall these results and do the elections from paper ballots and we would win the elections. We were leading in the morning in the paper ballots in these elections early but then when the counting in the EVM happened things changed.”said Sanjay Raut Rajya Sabha MP and party spokesperson of the Uddhav Balasaheb Thackeray Sena. Raut claimed that they want elections to be held through paper ballots. “We are not saying this because we lost, we have been saying against EVM for the last ten years. Now they (BJP) claim that they won in Jharkhand and lost in Maharashtra but we would like to tell them to do one thing: take Jharkhand and let us win in Maharashtra. Do something in the EVM machine and let us win in Maharashtra.”said Raut sarcastically.

Donald Trump Jr. is reportedly playing a key role in shaping the cabinet selections of his father, President-elect Donald Trump, according to USA Today.

Swaminathan Aiyar, Consulting Editor, ET Now, says Maharashtra and Jharkhand elections show there are as many puzzles as lessons. There are no clear-cut lessons. While Hindutva line and local issues worked in BJP’s favour in Maharashtra while in Jharkhand they did not. But BJP will be happy that even where it has done badly in the general election, where Mr Modi mattered, it can do very well in the state election. It would be extremely heartening for the BJP to say there is much more to this party than just Mr Narendra Modi, that is a positive. In Maharashtra, the BJP-led Mahayuti alliance is all set to form the government. I guess the markets would like that, right? It is continuity and stability. Swaminathan Aiyar: Yes, categorically yes. It is not just that they won, they won with such a phenomenal sweep. I mean, it is like a slap on the face of the Congress party and the INDIA bloc. The INDIA bloc did recover something by winning Jharkhand quite convincingly going against the opinion polls that had suggested it might be a dead heat or something.

Bitcoin (BTCUSD) remains in focus to start the week as the cryptocurrency sits on the precipice of crossing the $100,000 mark for the first time.

Huawei Technologies Co. for breaching US laws shocked President Xi Jinping’s inner circle and raised questions over whether Donald Trump would intervene in the case. Trump now faces a similar dilemma after US prosecutors charged Gautam Adani — India’s most powerful businessman and a close ally of Prime Minister Narendra Modi — in a $250 million bribery scheme. While Modi’s party called it a private matter, and Adani’s company denied the allegations, the case threatens to roil US-India diplomatic ties. Although Trump didn’t intervene in the Huawei case, which was eventually settled in 2021 after he left office, on its face he’ll have more incentive to make this case go away. Beyond Trump’s personal connection with Modi, the incoming US president has packed his team with China hawks who want to see stronger ties with India to counterbalance Beijing’s power in the region.

Subscribe to enjoy similar stories. Mergers and acquisitions (M&As) are likely to get a boost in 2025 on the back of increased political clarity after a year of key national elections globally and a cooling initial public offering (IPO) market, top executives at Investec Bank Plc said in an interview with the Mint. “2024 was clearly a year of significant uncertainty.

Subscribe to enjoy similar stories. Mumbai: Stock market engines that roared back on Friday may gather more steam this week, after the Bharatiya Janata Party-led alliance scored a runaway victory in the Maharashtra assembly elections. However, market participants warned that a short covering-led rally could prompt investors singed by the recent correction to cut losses, potentially limiting the life of the rebound.