Indian Financial News

During the course of these 18 months, the markets have had to digest the volatility on accounts of the Ukraine-Russia war, over $40 billion of FII selling, the fastest interest rates hike by global central banks and concerns about India’s valuation amongst developed and emerging economies. After digesting all of the above, the markets have scaled new lifetime highs and are poised for some more in the coming few months.

DNA, It is worth noting that Laxmi Vilas Palace is four times larger than Buckingham Palace, the official residence of the British royal family. Mint could not independently confirm the development. The report noted that the magnificent palace serves as the residence of the Baroda royal family, led by HRH Samarjitsinh Gaekwad, with HRH Samarjitsinh Gaekwad and Radhikaraje Gaekwad as the owners.

Praj Industries shares jumped 8% to Rs 400 in Friday's trade on BSE after the firm signed a term sheet with Indian Oil Corporation (IOCL) to strengthen biofuels production capacities in India. Various biofuels covered under this MoU include Sustainable Aviation Fuel (SAF), Ethanol, Compressed Bio-Gas (CBG), Biodiesel and Bio-bitumen among others, the company said in an exchange filing. Earlier in October 2021, both companies had entered into an agreement to form a 50:50 Joint Venture to this end.

Also read: California plane crash: One killed and three injured after small plane crashed shortly after takeoff "There was no one to rescue her, she spent her last hour on this earth with the worst of humanity. Jasmeen is gone and I am heartbroken, she was a precious little girl," she added, reported India Bloom.

Indian startups witnessed a 72% decline in funding during the first half of 2023 as compared to last year in the same period, according to a report titled ‘Tracxn Geo Semi-Annual Report: India Tech- H1 2023’. This year from January to June (H1), the total startup funding was $5.5 billion in the country.  The report also stated that the Indian startup funding trend shows a global decline, despite being ranked among the world's top three funded geographies after the United States and the United Kingdom, CNBC reported.  In addition, the number of funding rounds in the Indian startup ecosystem also experienced a decrease in H1 2023.

violent rhetoric’ against India's Ambassador to the US Taranjit Singh Sandhu and said free speech does not mean a license to incite violence or vandalise property. Congressmen Ro Khanna in a tweet said that act is dangerous and has no place in a democracy. He also added that free speech does not mean a license to incite violence.

labour market data spurred the threat of inflationary pressures, leaving room for more rate hike by the Fed. Earlier, the minutes of the Federal Reserve’s June meeting also showed that most central bank officials would support more interest rate increases ahead. In Asia, Japanese household spending fell 4.0% in May from a year earlier, a third month of decline, government data showed, Reuters reported.

Nifty futures traded 61.5 points, or 0.31 per cent, lower at 19,488, signaling that Dalal Street was headed for a negative start on Friday. Here's a slew of stocks that will be in focus today for various reasons.TitanTitan registered a 20% year-on-year (YoY) revenue growth for the June quarter, with all the key consumer businesses witnessing double-digit growth in the quarter.DaburFMCG major Dabur India's consolidated business is expected to register a growth of over 10% for the first quarter ended June.Read more: What changed the market while you were sleepingJK CementJK Maxx Paints, wholly owned subsidiary of JK Cement, has invested Rs 60.24 crore towards the acquisition of 20% stake in Acro Paints.Indian OilIndian Oil Corporation (IOC) and Praj Industries signed a term sheet to advance plans to strengthen biofuels production capacities in India.Adani GreenAdani Green announced that it intends to raise funds to the tune of Rs 12,300 crore through the qualified institutional placement (QIP) route.Healthcare GlobalThe company has entered into a share purchase agreement with NCHRI for the acquisition of entire equity share capital in NCHRI.SobhaSobha has achieved the highest ever quarterly sale value of Rs 1465 crore, with a growth of 28% YoY.

India’s year-old campaign to boost the rupee’s role in cross-border payments has made little headway, according to people familiar with the matter, underscoring the challenges for countries trying to reduce their dependence on the dollar. The Reserve Bank of India has allowed more than a dozen banks to settle trades in rupees with 18 countries since last year and is encouraging big oil exporters such as the UAE and Saudi Arabia to South Asian nations to accept the Indian currency for trade settlements.

₹10 lakh on his head, was shot dead outside a gurdwara in Canada last month. In a joint statement issued on Thursday, Congressmen Ro Khanna and Michael Waltz, co-chairs of the Congressional Caucus on India and Indian-Americans, said violence against diplomatic facilities will not be tolerated. "As the co-chairs of the India Caucus, we strongly condemn the attempted arson and vandalism at the Indian Consulate in San Francisco and the posters circulating on social media with violent rhetoric aimed at Indian diplomats, including Ambassador Sandhu," they said.

Indian Oil Corporation Limited (IOCL), Chennai, has committed to invest Rs 54,000 crore in various projects in Tamil Nadu in the next few years, including a 9 MMTPA (million metric tonnes per annum) grass-root refinery at an estimated cost of Rs 35,580 crore, its executive director and state head (TN & Puducherry) V C Asokan said here on Thursday. This new refinery, which will come up on about 1,300 acres of land in Nagapattinam, will produce petrol and diesel for BS-VI specifications and also polypropylene.

Indian economy has carried the momentum from the past year into the current fiscal year and there has been no evidence by far that suggests a slowdown in the current financial year 2023-24, said the Department of Economic Affairs under Ministry of Finance in its monthly review report. According to the provisional estimates released by the National Statistical Office (NSO) recently, real GDP growth for 2022-23 stood at 7.2 per cent, higher than the 7 per cent as was projected earlier. An upward revision in the 2022-23 GDP numbers is expected going forward.

France on Thursday. The parade will witness a 269-member tri-services contingent of the Indian Armed Forces marching alongside their French counterparts, the Ministry of Defence said. The Fete Nationale Francaise is celebrated on July 15 or the National Day in France.

India in London are «completely unacceptable» amid anti-India attacks by Khalistani extremists emerging on social media channels. UK Foreign Secretary James Cleverly took to Twitter to declare that the safety of the staff at India's diplomatic mission in the country is paramount. His intervention follows threats and attacks targeted at Indian diplomatic missions in the US, Australia and Canada and some threatening posters emerging online with images of Indian High Commissioner to the UK Vikram Doraiswami and Dr Shashank Vikram, the Consul General of India in Birmingham.

Indian diplomats have also surfaced in Canada, allegedly circulated by Sikh extremists. These posters specifically mention Indian High Commissioner to Canada Sanjay Kumar Verma and Apoorva Srivastava, the Consulate General of India in Toronto.

Indian stocks have been able to hold on to all-time highs when market breadth is healthy. Readings of over 15 per cent NSE 500 Index member stocks touching a new 52-week high is positive, said a report by DSP Mutual Fund. A strong advance-decline market breadth where the number of advancing stocks significantly outweighs the declining stocks is a positive signal for the market, the report said.

finance ministry today flagged an upcoming likely scenario that offers no hope to the common people to get an escape from the price pressure. The recent spike in the prices of essential food items, which have doubled in most cases across India, has been attributed to geographical anomalies like heatwave and pestilence. The El-nino influence paired with a delayed impact of constantly reducing WPI on retail inflation is expected to make the situation worse for consumers, the finance ministry suggested in its annual economic review.

Indian shares were little changed on Wednesday as a rise in auto and consumer stocks offset the slide in high-weightage financials. The Nifty index settled 0.05% higher at 19,398.50, while the S&P BSE Sensex fell 0.05% to 65,446.04. Both the indexes had hit all-time highs at each of the four previous sessions.

Stock market: Indian stock market has remained highly bullish after ushering in July 2023 as all indices have hit life-time highs respectively. In fact, on Friday last week, all three key benchmark indices Nifty, Sensex and Bank Nifty hit record high whereas small-cap and mid-cap indices too climbed to a new peak.

National Education Policy (NEP) 2020 recommends that "high performing Indian universities will be encouraged to set up campuses in other countries". The campus, named IIT Madras at Zanzibar, is set to commence operations in October 2023 and will initially admit 50 undergraduate students and 20 master's students.

Indian Oil Corporation Ltd. traded 3.02 per cent up in Thursday's trade at 10:00AM (IST). Around 1,004,354 shares changed hands on the counter.