Electronic Financial News

UK and Oman are expected to figure in the commerce ministry's 100-day agenda roadmap for the new government, an official said. The ministry will also focus on issues pertaining to the exporting community with a view to promoting the country's outbound shipments. Further talks between India and Australia to expand the scope of existing economic cooperation and trade agreement (ECTA) for a comprehensive economic cooperation agreement (CECA) are also progressing at a healthy rate. The exercise assumes significance as while chairing a Cabinet meeting on March 17, Prime Minister Narendra Modi asked the ministers to meet secretaries and other officials of their respective ministries to discuss how the agenda for the first 100 days and the next five years can be better implemented.

Saurabh Gupta, Group CFO, Dixon Technologies, says “there’s a $10 billion opportunity in IT hardware for India. $10 billion worth of IT hardware products are imported into India. So, it is a large opportunity for import substitution and if India is able to do a good job as an industry, if you are able to generate that operating leverage and cost competitiveness, in a few years, yes, it can potentially get exported from India as well.” Gupta also is confident that achieving a growth rate of 35-40% annually should not be a challenge over next few years. On EMS, India’s position & Dixon’s share Saurabh Gupta: If you look at the whole electronic manufacturing space, India's share in the global electronic space is just 2%. But if you look at the whole government policy framework, as far as the labour pool availability and labour cost in India is concerned, we are looking at a very significant growth potential in this particular sector. The reason is increasingly, brands want to outsource more and more manufacturing and not only manufacturing, they want to deepen the level of manufacturing and in our sense, it will be more design-led manufacturing for us and also, the government policy framework has been very supportive.

Dharmesh Shah, Head-Technical, ICICI Direct, says “any correction in the PSUs from the current level should not be constructed as negative, but should be looked upon as a buying opportunity because we believe most of the negative news seems to be getting priced in there. Any dip from the current level is a buying opportunity. So, stocks like HAL or BEL, Bharat Electronics in the defence space and also Cochin Shipyard, one should definitely consider at the current levels.” Do you expect the Nifty momentum that we have been seeing on Thursday and Friday to sustain for the benchmark? Dharmesh Shah: Yes, definitely, I think so. If you see the recovery push after the Fed event, the sentiment seems to be slightly bullish. I would not say major bullish, but yes, it seems to be getting better and better going forward. We believe a target of 22,400 for the Nifty in the coming week. At the same time, we see 21,700 remaining as a strong support in the current trading session.

Kerala, the ruling Left Democratic Front (LDF) has accused NDA candidate Rajeev Chandrasekhar of violating the model code of conduct and approached the Election Commission seeking action against him. Union Minister of state for Electronics and IT, Chandrashekhar is fighting the polls from the Thiruvananthapuram seat. The ruling front, in its recent complaint lodged with the district Collector, alleged that he was participating in many programmes including inauguration and discussions with specific groups in the constituency in his capacity as union minister even after the model code of conduct came into being. «This is a clear case of violation of the model code of conduct,» M Vijaykumar, Chairman of the LDF Election Committee in the constituency, alleged.

₹12,999, now available at a steal for just ₹6,999. Similarly, the ever-popular Marshall Emberton II Speaker is up for grabs at a discounted rate of ₹14,999, down from its original price of ₹19,999. Moreover, the- premium Sony Party Speakers are being offered at a price of ₹32,900, a significant markdown from ₹46,990.

Galaxy Health and Allied Insurance Company Limited, authorizing it to conduct health insurance operations within India. This marks the sixth registration approval within approximately a year across various segments including life, non-life, and health insurance. Notably, earlier this year, IRDAI granted Narayana Health in-principle approval to establish a health insurance enterprise in the country. Galaxy Health and Allied Insurance Company Limited is spearheaded by V Jagannathan, the founder of Star Health and Allied Insurance Company, has emerged as the latest addition to the Indian health insurance market. ET had earlier reported that S Prakash, the former managing director of Star Health, has joined Jagannathan in this endeavor, as detailed by ET. Jagannathan's decision to venture into the health insurance sector comes after his successful tenure at Star Health, which he established in 2006. His leadership culminated with the company's successful listing before his departure in June 2023. During his stewardship, Star Health witnessed a remarkable turnaround, achieving a net profit of Rs 618 crore and an underwriting profit of Rs 204 crore in the fiscal year 2022-2023, a notable improvement from previous losses. With an extensive network comprising over 13,000 hospitals and a strong presence in southern, western, and northern India, Star Health has established itself as a prominent player in the industry.

Income tax e-filing: If you missed linking your PAN with Aadhaar by the June 2023 deadline and your PAN is inactive, don't worry, you can still file your income tax return. The income tax department had previously clarified that an inoperative PAN remains active. The deadline for individuals not requiring an audit for the Financial Year 2023-24 (Assessment Year 2024-25) to file their Income Tax Returns (ITR) is July 31, 2024.

regulations to enhance the regulatory framework for the insurance industry. In its meeting held on March 19, IRDAI approved eight principle-based consolidated regulations. These regulations focus on safeguarding policyholders' interests, rural and social sector responsibilities, electronic insurance marketplace, foreign reinsurance branches, and aspects of registration, actuarial, finance, investment, and corporate governance, the regulator said in a press release.

ICRA said in a recent report. The report added that the sustenance of domestic leisure and business travel, and demand from meetings, incentives, conferences, and exhibitions (MICE) are likely to drive demand in FY25 despite a lull during the Lok Sabha elections. As things stand, India remains the world’s fastest-growing major economy.

Trinamool Congress leader Derek O'Brien on Friday accused Prime Minister Narendra Modi of behaving like a «tin-pot dictator,» and said the BJP-led Centre was arresting opposition leaders in its desperation to secure win in the upcoming elections. «The Prime Minister is behaving like a tin-pot dictator, arresting opponents, election agents, transferring state government officials… Changing rules in desperation to win seats… Why?» said O'Brien, who is in Delhi for a meeting of opposition INDIA bloc leaders with the Chief Election Commissioner, a day after Delhi Chief Minister Arvind Kejriwal was arrested by the Enforcement Directorate. INDIA bloc parties are rallying behind Kejriwal, with the TMC making its first appearance with the opposition alliance partners since seat-sharing talks with Congress in West Bengal failed, and it announced going solo in the Lok Sabha polls. «The Director General of Police (DGP) West Bengal was changed thrice in 24 hours… Why wasn't the ED director changed?» the TMC Parliamentary Party leader in Rajya Sabha said.

Bharat Electronics Ltd. rose 0.33 per cent to Rs 197.3 in Friday's trade as of 01:19PM (IST) even as the benchmark Nifty ruled at 22110.7, up 98.75 points. The scrip had closed at Rs 196.65 in the previous session. The stock quoted a 52-week low of Rs 89.93 and a high of Rs 216.7. The company quoted a market-cap of Rs 143344.76 crore on the BSE.

Investing.com-- Japan’s Nikkei 225 index rose in morning trade on Friday, notching a record high above key levels as investors remained largely upbeat over the Bank of Japan remaining accommodative in the near-term.

USCIS) has announced an extension of the initial registration period for the fiscal year (FY) 2025 H-1B cap. Originally scheduled to end at noon Eastern on March 22, 2024, the registration period will now run until noon Eastern on March 25, 2024. This extension comes in response to a temporary system outage experienced by some registrants, with USCIS aiming to accommodate affected individuals by providing additional time. During this extended period, prospective petitioners and their representatives, if applicable, are required to use a USCIS online account to electronically register each beneficiary for the selection process. Additionally, they must pay the associated registration fee for each beneficiary.

Dividend stocks: Shares of Power Finance Corporation Ltd, Bharat Electronics Ltd, Mishra Dhatu Nigam Ltd, Refex Industries Limited, and TIL Ltd will be in focus when the stock market opens on March 22 (Friday). The Board of Directors of the 5 companies have declared interim dividend, stock split, and rights issue for their eligible shareholders. The record date by the 5 companies to ascertain the eligibility of shareholders for their respective issues has been fixed on March 22.

AI fakery is quickly becoming one of the biggest problems confronting us online

Canadians with extra spending cash right now might find they can score deals on clothing, some discretionary items and higher-ticket purchases as experts say retailers are fighting harder for consumers’ dollars.

Digital banking has brought a paradigm shift to the way we carry out financial transactions. The collateral damage, however, is the spate of frauds that accompany it. To minimise these frauds, the banking regulator has taken a number of steps so that banking remains safe and secure.

Election Commission of India (ECI) has asked the ministry of electronics and information technology to ensure that no messages regarding the Viksit Bharat Model are delivered to the WhatsApp numbers of users from today keeping in view the ongoing model code of conduct (MCC) before the 18th general elections, scheduled to take place between April and June. “The Commission has received complaints from various quarters that such messages are still being delivered on citizens' phones. Since the MCC is now in force, you are hereby directed to ensure forthwith that no further delivery of 'WhatsApp messages' take place during MCC period. A compliance report in this regard may be sent immediately,” the ECI letter to the IT ministry said.

fact check unit rules notification issued by the Union Government on March 20 till the Bombay High Court finally decides the challenges to the IT rules amendment 2023. The top court said that the validity of the rule involves serious constitutional questions and impacts the fundamental right of freedom of speech and expression. The Chief Justice of India said, «Till the disposal of the issue by the HC, we are desisiting to deal on merits which may foreclose assessment by the third judge. We are of the view that notification dated March 20, 2024, after rejection of application of interim relief, need to be stayed.»

NSE BSE Holiday: Indian equity markets are set to remain shut for multiple days towards the end of March due to festivals and holidays, apart from the regular weekend breaks. The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will not conduct trading activities on March 25 on account of Holi, and March 29 for Good Friday. Across both these leading bourses, trading will be closed in the equity, equity derivatives and securities lending & borrowing (SLB) segments on those two dates.

U.N. agencies have warned that waste from electronics is piling up worldwide while recycling rates remain low and are likely to fall even further