Electronic Financial News

ITC and Bharti Airtel’s weights in Nifty is expected to go up in the quarterly rejig which gets into effect on Thursday, triggering combined inflows of $95 million according to estimates by Nuvama. Individually, ITC’s weight could go up by 10 bps to 3.7% resulting in potential inflows of $59 million while Airtel’s weight could go up to 3.6%, up 10 bps resulting in inflows of $36 million.

Crossover Markets is best known for its execution-only electronic communication network, CROSSx, a low-latency institutional trading venue for digital assets, comprising an advanced matching engine and smart order routing.The firm recently reported over $3.15 billion in notional trading value, 415,450 trades, and over 141 billion quotes processed on CROSSx in Q1 2024."This fundraise comes at a time when institutional market structure is changing in digital assets," says Brandon Mulvihill, co-founder and CEO of Crossover Markets.

Bharat Electronics Ltd. fell 0.48 per cent to Rs 308.0 at 12:07PM hours (IST) on Wednesday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 441,120 shares with a turnover of Rs 13.63 crore till 12:07PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 57.03, while the price-to-book value ratio stood at 9.02.

YSRCP central office at Tadepalli in Andhra Pradesh recently, several district offices of the party have started receiving notices on the legitimacy of their construction. The opposition party shared a notice it received in the intervening night of Monday and Tuesday about the legitimacy of its Vizianagaram district office from the local civic body. «You are hereby directed to stop the unauthorized construction work and submit a reply to this notice within seven days from the date of receipt of this notice in writing by you/your authorised agent,» said the notice. In the event of no reply, the Vizianagaram Municipal Corporation warned that «it will be treated as a continuous and intentional offence and further action will be taken as per provisions laid down under Section 452 (1) and 461 (1) of APMC Act, 1955».

demerger of existing automotive businesses into two listed entities will help in securing synergies across its PV and JLR verticals in areas of EVs and autonomous vehicles, Tata Motors Chairman N Chandrasekaran said on Monday. Speaking at the auto major's 79th AGM, he noted that the initiative will lead each company to deliver a superior experience for customers, better growth prospects for employees and enhanced value for shareholders. «This (demerger) will also help secure the considerable synergies across PV, EV and JLR particularly in the areas of EVs, autonomous vehicles, and vehicle software,» Chandrasekaran said. In March this year, Tata Motors announced the demerger of its commercial and passenger vehicle segments into two separate listed entities to better capitalise on growth opportunities.

eInfochips, an Arrow Electronics company, a provider of product engineering and digital transformation services, announced that two of its client engagements have been recognised as Standout Case Studies by ISG, in the energy and healthcare, and life sciences categories within the North American region. According to a statement, eInfochips was recognised for its contribution to the development of ELSA, a “Brilliant Assistant” smart surgical display platform designed to streamline workflows and integrate AI into operating rooms. ELSA has delivered significant value, with the client SoftAcuity, a medical technology provider, estimating a tenfold increase in ROI, highlighting the transformative impact of this solution. According to ISG, this case study showcases collaborative new product development driven by specialised technological and engineering expertise.

Dixon Technologies (India) Ltd investors are sitting on handsome gains. The stock has delivered almost 150% in the last one year, and nearly 30% in the last one month. Dixon is engaged in electronic manufacturing services (EMS), and the prospects for the sector are bright thanks to the government’s initiatives to boost manufacturing through various production-linked incentives (PLI) schemes.

When income is low, the ability to save is also limited. For savers like Nitin, tax-saving instruments under Section 80C may be the primary way to accumulate savings. However, trying to save about 20% of his income is an ambitious target for a young earner with a family to support. It’s common for young investors with low incomes to find that expenses quickly consume their earnings. Nitin should first evaluate whether he can routinely save 20% of his income each month to determine if this annual saving target is feasible. If, after accounting for lifestyle and other avoidable expenses, mandatory expenses for rent, power, transport, telecom, and similar necessities exceed 80% of his income, his 20% saving target is too high. He should be prepared to pay some taxes until his income and saving ability increase.

The Food and Drug Administration has authorized the first menthol-flavored electronic cigarettes for adult smokers

India needs to take critical actions to transform its electronic sector ecosystem from an 'import dependent assembly led manufacturing' to 'component level value-added manufacturing', highlights a report by Confederation of Indian Industry. As per the Report, in 2023, the demand for components and sub-assemblies stood at USD 45.5 billion to support USD 102 billion worth of electronics production. This demand is expected to scale to USD 240 billion to support the USD 500 billion worth electronics production by 2030. The priority components and sub-assemblies including PCBAs (Printed Circuit Board Assembly), are projected to grow at a robust CAGR (Compounded Annual Growth Rate) of 30 per cent, reaching USD 139 billion by 2030.

Andhra Pradesh Information Technology and Electronics Minister Nara Lokesh on Sunday alleged that the former YSRCP government led by Y S Jagan Mohan Reddy had allocated 42 acres of land in 26 districts for building party offices at a nominal cost of Rs 1,000 lease for 33 years. The minister posted the information on social media platform X along with several pictures of alleged YSRCP offices under construction. «You (Jagan) allocated 42 acres of land in 26 districts for YSRCP (offices) at a meagre cost of Rs 1,000 lease for 33 years,» Lokesh said in a post on X, attaching more than a dozen pictures of the alleged YSRCP offices under construction in various parts of the state. This development comes soon after it became public knowledge that a palatial mansion was allegedly built at a cost of Rs 500-crore in Rushikonda, Visakhapatnam for Jagan Reddy, and that an under-construction YSRCP central party office in Tadepalli was recently demolished.

EVMs, Communist Party of India (Marxist-Leninist) Liberation general secretary Dipankar Bhattacharya said the country may probably have to go back to ballots. In an interview with PTI editors at the agency's headquarters, the CPI (ML) Liberation leader also raised concerns over alleged "saffronisation" of education and stock market "scam" driven by exit polls. Highlighting his concerns around the conduct of the 2024 general elections and the Electronic Voting Machines (EVMs), Bhattacharya said the opposition had sought 100 per cent VVPAT counting in the elections, but it was turned down by the Supreme Court. The Voter Verifiable Paper Audit Trail (VVPAT) is an independent vote verification system which permits an elector to see whether his vote was cast correctly.

Filing Income Tax Returns (ITR) is a crucial responsibility for taxpayers in India. Ensuring accurate and timely submissions can prevent unnecessary hassles, penalties, and legal issues. Here are the top mistakes to avoid during the ITR filing process:

Hyundai Motor India gave the third significant upgrade to its flagship sports utility vehicle Creta this January, almost nine years after its launch in 2015 and about four years after its second generation in 2020. But the next big development followed in just three months with the performance-focused Creta N Line variant hitting the roads in March. Now, an electric version is scheduled for later this fiscal.

iPhone models have become victims of the scorching heat across the United States this summer, with temperatures likely to increase in the coming days. When mobile devices, tablets and laptops heat up due to high external temperatures, it hurts the overall device performance, shortens battery life and can often damage the device' internal circuit, leading to a short circuit.

Finance Minister Nirmala Sitharaman on Saturday said less than two per cent of the total 58.62 lakh taxpayers under Central GST administration has been sent tax notices and the intention of the government is to make GST assessees life easier by reducing compliance requirements. «I want to reassure the assesses that our intent is to make GST assessees life easier, we are working towards less and less compliance. On behalf of the CGST, notices are not being sent left, right and centre. Only 1.96 per cent of all active tax assessees have been sent notices from Central GST,» Sitharaman said. Addressing the media post the GST Council meeting, the Minister said as of December 31, 2023, only 1.96 per cent of all active tax assessees have been sent notices from the Central GST (CGST). Around 1.14 lakh assessees have been sent notices by the CGST out of total 58.62 lakh assessees. The Council in its 53rd meeting on Saturday took a host of taxpayer-friendly steps including waiving interest and penalties for demand notices for fiscal years 2017-18, 2018-19 and 2019-20, if the full tax demand is paid by March 31, 2025.

made-in-India weapon systems, the Indian Navy is set to place an order for four Tapas drones built in India by the DRDO. The Indian Navy intends to use the drones developed by Defence Research and Development Organisation for surveillance over the maritime zone. «The Indian Navy is going to order four Tapas drones and it is going to use them for maritime surveillance operations,» defence officials told ANI.

SBI Mutual Fund has announced the launch of SBI Silver ETF Fund of Fund, an open-ended fund of fund scheme investing in SBI Silver ETF. The new fund offer of the scheme will open for subscription on June 27 and it will close on July 5. The investment objective of the fund is to provide returns that closely correspond to returns provided by SBI Silver ETF.

Delhi Airport on Saturday became the first Indian airport to introduce the Government of India’s Fast Track Immigration-Trusted Traveller Programme (FTI-TTP) for Indian passport holders and Overseas Citizen of India (OCI) cardholders. This facility aims to reduce congestion at airports by offering expedited emigration/immigration clearance for pre-verified travellers, both arriving and departing. Delhi Airport's Terminal 3 is equipped with eight electronic gates – four for arrivals and four for departures – to facilitate a seamless experience for programme participants. The number of counters may increase based on demand.

IndiaAI Mission at the Global IndiaAI Summit to be held in New Delhi on July 3-4, the electronics and information technology ministry said on Friday. In March, the government had approved Rs 10,372 crore to be spent over the next five years on setting up compute capacity of up to 10,000 graphic processing units (GPUs), developing artificial intelligence (AI) applications in critical sectors and working on addressing problems raised by central and state governments as well as government-run institutions.

Patna police about «four suspected criminals in an SUV headed to a safe house» on May 5, hours before the NEET-UG exam, led to the unravelling of a nationwide fraud network. This tip plunged the medical entrance test into controversy and created uncertainty for lakhs of aspirants. Following the tip, a team from Patna's Shastri Nagar police station intercepted four suspects. These suspects led them to a meeting place in Ram Krishna Nagar, where around 30 NEET-UG candidates had allegedly gathered to memorize leaked questions and answers. Authorities have since gathered dozens of names of medical aspirants and their «handlers».