Indian Financial News

volatility in the near-term after JPMorgan announced India's inclusion in its widely tracked emerging market debt index, BlackRock's head of Asia Pacific fixed income said on Friday. JPMorgan said 23 Indian Government Bonds (IGBs) with a combined notional value of $330 billion were eligible for inclusion in its Government Bond Index-Emerging Markets (GBI-EM) index and index suite, benchmarked by about $236 billion in global funds. Neeraj Seth, chief investment officer and head of APAC fundamental fixed income at BlackRock, expects inflows of around $20 billion to $25 billion into India after the maximum weight threshold of 10% is achieved on the GBI-EM index. Given the size of the $2 trillion global government bond market, it may add only a little bit to the volatility in Indian bond markets, Seth told the Reuters Global Markets Forum. The volatility would become «more profound and visible» if foreign ownership were to go into double digits, Seth said, adding that he expected foreign ownership of Indian government bonds to rise to 3.0%-3.5% post-inclusion. «I don't think that's significant enough to move the markets around,» he said. Foreign investor buying in Indian bonds has remained tepid with net purchases of $3.4 billion so far in 2023. Foreign investors own less than 2% of outstanding government debt. Separately, Seth believes there will be a shift in asset allocations as markets head into 2024, which he sees becoming a «very attractive year», especially for U.S.

Australia and the UK. As Indians students explore alternative destinations amid heightened India-Canada tensions, the trio is likely to benefit the most if the situation doesn't improve soon, more than half-a-dozen educational consultants told ET. All of them said a large number of Indian students who were looking to study in Canada are now looking at other options due to the deteriorating situation, lack of safety and uncertainty about the immediate future. The US is the first choice for many. «Given the speed at which the situation has escalated, almost every student who was considering Canada is keeping a back-up option,» said Karan Gupta, founder of study abroad career consultancy Karan Gupta Consulting.Variety of Courses in US «A majority of these students will apply to the US,» he said.

Crude oil prices have shot up since June... Brent crude has jumped to a 10-month high and breached $93/barrel in mid-September. It has averaged $83.5 in the past year.

Canadian authorities have not stopped issuing visas to Indian nationals looking to enter the north American country. This comes even though India's foreign ministry has suspended issuing visa to any Canadian citizen, irrespective of their domicile. India and Canada have found themselves at diplomatic logger heads, as Canada's Prime Minister Justin Trudeau levied ‘credible allegations’ that Indian government and India's intelligentsia was involved in the killing of Khalistani terrorist Hardeep Singh Nijjar in British Columbia's Surrey in June, 2023.

artificial intelligence (AI) and machine learning — posers on what kind of skills we should arm ourselves with.Coursera — one of the online platforms that provide learning modules across business, technology and analytics domains for working professionals across countries, domains and age groups — recently shared its analysis of learner interest and trends from India. What stood out from this data was that its Indian learners were more likely to be developing AI-related skills than learners in many other countries, over-indexing on learning about artificial neural networks (1.15x), applied machine learning (1.2x), and machine learning algorithms (1.2x). Over-indexing, in this context, refers to a higher percentage of people choosing the courses compared with the benchmark. The other areas that saw high indexing among Indian learners — beyond AI/machine learning — included data visualisation software, blockchain, supply chain systems, software architecture, investment management, people analysis, C programming, distributed computing, algorithms and data structures.

By Subhashis Kar

Bezzecchi won the inaugural Indian Grand Prix on Sunday with a dominant performance from start to finish while Ducati's Francesco Bagnaia suffered a crash that blows the world championship contest wide open. Pole-sitter Bezzecchi lost out on a sprint podium after a collision with teammate Luca Marini, eventually finishing fifth, but on Sunday there was no rider in the chasing pack who could match the determined Italian's pace up front. Pramac Racing rider and sprint winner Jorge Martin, who risked a penalty by unzipping his leathers, finished second while Yamaha's Fabio Quartararo completed the podium after the two were involved in a tense battle on the final lap. World championship leader Bagnaia seemed to be cruising in second place but lost his balance on turn five with eight laps to go, allowing Martin to move up to second and close the gap to 13 points while Bezzecchi is 44 points behind.

Source- BloombergSource- BloombergSource- Bloomberg, JM Financial Research We continue to believe India’s decoupling with the world as far as equity markets are concerned which has started in the last 6 months will be sustained, because of the country’s resilient economic growth of 6-7% p.a. more than twice as much relative to the world; lower foreign debt dependence for its growth and very strong corporate profitability growth of over 15% CAGR next three years. In the longer run over a 20-year period history has shown all three sectors in India have given robust and similar returns to investors, ranging from a cagr of 15% to 17%.

Missile Cum Ammunition (MCA) Barge, Yard 77 (LSAM 9) was launched by Cmde G Ravi, Warship Production Superintendent (Visakhapatnam), on Friday at Guttenadeevi, East Godavari, Andhra Pradesh (the launch site of M/s SECON), ministry of defence said in a statement. With all major and auxiliary equipment/systems sourced from indigenous manufacturers, this barge is a proud flag bearer of the “Make in India” initiatives of the ministry of defence. «Contract for construction and delivery of 08 x Missile Cum Ammunition (MCA) Barge was concluded with M/s SECON Engineering Projects Pvt Ltd, Visakhapatnam, a MSME, in consonance with “Aatmanirbhar Bharat” initiatives of the Government of India. The MSME shipyard has already delivered first MCA Barge on 18 Jul 23 and has launched Second Barge on 18 Aug 23.

crypto assets could threaten the effectiveness of monetary policy,” noted the Synthesis Paper developed by the International Monetary Fund (IMF) and Financial Stability Board (FSB) at the request of the Indian G20 Presidency. The risks of crypto-assets or virtual digital assets (VDA) assuming the status of a “shadow” currency has also been a key concern articulated by the Reserve Bank of India (RBI), prompting the Indian financial services regulator to push for a complete ban on crypto-assets. An important consensus from the New Delhi Declaration adopted by G20 leaders is that a global coordinated approach to crypto-asset regulation is required. A key challenge faced by regulators across jurisdictions when looking to supervise crypto-assets is the blurring of geographical boundaries. Any person with access to the internet can transact on a blockchain-based private cryptocurrency, allowing for seamless transactions with counterparties across multiple jurisdictions. Several crypto-assets operate without any intermediaries, making regulation even more difficult. Consequently, a framework that has “buy-in” from regulators across jurisdictions is the only effective way to regulate crypto-assets. The Synthesis Paper seeks to address this very problem. It sets out a comprehensive policy and regulatory response to address the financial stability and macroeconomic risks triggered by the widespread use of crypto-assets. Regulators across jurisdictions will still need to frame their own rules but can rely on the broad policy recommendations of the IMF and FSB (as set out in the Synthesis Paper).

Kazakhstan in the Asian Games on Sunday. India's 41-year-old paddler Sharath Kamal stole the show by stepping up when the game was slipping away from the hands of the Indian team. In the men's round of 16 match between India and Kazakhstan, experienced paddler Sharath Kamal lost the opener by 1-3 (8-11, 11-9, 6-11, 8-11) to Kirill Gerassimenko. Sathiyan Gnanasekaran with his sheer grit and determination brought India back by clinching a 3-0 victory in the second match (14-12, 11-8, 11-4) against Aidos Kenzhigulov. Harmeet Desai came into the action to take on Alan Kurmangaliyev in the third singles and he didn't disappoint. Desai defeated Alan Kurmangaliyev by 3-0 (11-7, 12-10, 11-5) which momentarily gave India a 2-1 lead in the round of 16 tie. Sathiyan came back and had a chance to finish the tie here itself as he levelled the score with two games all against Gerassimenko after winning the fourth by 11-5. However, Gerassimenko bounced back to claim the decider by 11-5 and take away the fourth match.

Asian Games in China's Hangzhou. Japan won the tie by winning straight three games by 25-16, 25-18 and 25-17 to secure their spot in the semi-finals. Japan proved to be a much higher challenge for the Indians as they established their dominance with a 10-6 lead in the opening set. Japan who are ranked No. 1 in Asia showed their command and prowess by stretching their lead to 15-8.

Manika Batra lost both her matches, including the deciding fifth singles, as the Indian women's table tennis team was eliminated from the Asian Games following their 2-3 defeat against Thailand in the pre-quarterfinals on Sunday. World No. 39 Batra first lost the opening match to 104th ranked Thai player Orawan Paranang 0-3 with the Thai player dominating the proceeding for a 11-7, 11-1, 13-11 win in just 25 minutes. But 26-year-old Ayhika Mukherjee brought India on an even keel, winning the second game 3-1, defeating a much higher-ranked Suthasini Sawettabut 18-16, 11-7, 13-15, 11-9. Sutirtha Mukherjee then defeated Tamolwan Khetkhuan 3-2 (11-1, 9-11, 3-11, 11-7, 11-7) to give India a 2-1 lead before Paranang overcame a gritty Ayhika 3-2 (10-12, 11-4, 5-11, 11-4, 11-3) to keep her team's team's hopes alive. In the decider, Suthasini made up for her earlier defeat by beating Batra 3-1 (10-12, 11-8, 11-7, 11-6) to take her team into the quarterfinals.

Sectorally, buying was seen in the public sector, telecom, auto, and capital goods, while selling was seen in healthcare, consumer durables, and realty stocks. Stocks that were in focus include names like Gujarat Ambuja, which rose 6%, Berger Paints closed with gains of more than 6% to hit a fresh 52-week high and Indian Bank, which closed with gains of about 4% to hit a fresh record high on Friday. We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout. We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view:Analyst: Sunil Gurjar, Founder Chartmojo, Author, CFTe, CMT Level 3Gujarat AmbujaThe stock has been forming a trend reversal pattern and looking good for an up move. The counter pattern breakout has happened with a good volume spurt which indicates big players are also making positions in the stock. The pattern breakout candle will act as a support zone on the way down, and on the way up one can see an upmove to 405 levels.Indian BankThe counter has been forming an uptrend continuation pattern and looks poised for an upside. The uptrend is also looking very strong and the same is also supported by great volume buildup.

waded into a debate around protests taking place halfway across the world.From Ottawa, he promised that Canada would “always stand up” for the right to peacefully protest.“We believe in the importance of dialogue and that’s why we have reached out through multiple means directly to the Indian authorities to highlight our concerns,” he said.Trudeau was responding to concerns among Canada’s significant Sikh diaspora that the Indian government was cracking down on farmers protesting a new agricultural policy. His comments were met with a sharp reaction from India, where the government summoned the Canadian ambassador over the issue.This diplomatic spat made headlines, and was just one example of how the effects of domestic politics and policies in India are spurring frustrations, fear and what one expert called “mounting tensions” among members of the diaspora communities in Canada.And in the days since Trudeau rose in the House of Commons saying Canadian authorities are investigating “potential links” between agents of the Indian government and the murder of Canadian Sikh leader Hardeep Singh Nijjar, there has been renewed focus on the challenges of negotiating an evolving relationship with India.In particular, how should Canada navigate ties with an aspiring global superpower in the years since the Indian farmers’ movement galvanized the diaspora?In 2020 and 2021, Indian farmers, mostly led by Sikh farmers from the northern state of Punjab, camped outside of New Delhi for over a year.

Open Defecation Free (ODF) status along with implementing either solid or liquid waste management systems. Addressing media persons, Shekhawat said over 4.43 lakh villages so far have declared themselves ODF Plus, which is a significant step towards achieving the goals of the second phase of the Swachh Bharat Mission Gramin by 2024-25. He added that all villages in 14 states and Union Territories (UT) have achieved ODF Plus Status, of which four have been declared 'ODF Plus Model'. The top performing states and UTs which have 100 per cent ODF Plus villages are Andaman and Nicobar Islands, Dadra Nagar Haveli, Goa, Gujarat, Himachal Pradesh, Jammu & Kashmir, Karnataka, Kerala, Ladakh, Puducherry, Sikkim, Tamil Nadu, Telangana, and Tripura. Of these, Andaman and Nicobar, Dadra Nagar Haveli and Daman Diu, Jammu and Kashmir and Sikkim have have achieved the 'ODF Plus Model' status. Out of the 4,43,964 ODF Plus villages so far, 2,92,497 villages are 'ODF Plus Aspiring' with arrangements for solid waste or liquid waste management systems, 55,549 are 'ODF Plus Rising' with arrangements for both solid and liquid waste management and 96,018 are 'ODF Plus model'. Overall, 2,31,080 villages so far have arrangements for solid waste management, while 3,76,353 have arrangements for handling liquid waste, he said. «The achievement of 75% ODF Plus villages is a significant milestone for India, as the country has moved from ODF to ODF Plus in Swachh Bharat Mission Gramin Phase II,» Shekhawat said. The major components of the second phase of SBM (G) are sustaining the ODF status, and having systems in place to handle various waste, including solid or bio-degradable, plastic, liquid, and faecal sludge.

₹1.43 trillion, of which ₹52,497 crore has to come from SBM-G and the remaining has to come from 15th finance commission funds ( ₹51,057 crore) and MGNREGA ( ₹24,823 crore). The central share allocation from SBM-G for the current fiscal is ₹7,192 crore and states have planned for an expenditure of ₹22,264 crore.

₹10,164 crore worth of Indian equities and offloaded a total of ₹10,100 crore as of September 22, taking into account debt, hybrid, debt-VRR, and equities, according to National Securities Depository Ltd (NSDL ) data. The ₹10,164 crore-figure also includes bulk deals and investment in primary market. Excluding the bulk deals and investment through the primary market, the sell figure in the cash segment rises to ₹18,260 crore, according to analysts.

New Delhi: Prime Minister Narendra Modi on Saturday said his government is making sincere attempts to draft laws in a simple manner and in Indian languages to the maximum extent. Inaugurating the International Lawyers' Conference here, he also flagged concerns about cyber terrorism and money laundering besides the use of artificial intelligence for destructive purposes. Modi said these dangers do not recognise borders and jurisdiction and called for collaborative efforts among legal frameworks of different countries to deal with them. «When danger is global, then the manner to deal with it should also be global,» he said. The prime minister cited the example of cooperation between air traffic control systems of all countries to ensure air travel and said preparing a global framework to deal with these dangers is not about one government or country. Chief Justice of India D Y Chandrachud, Union Law Minister Arjun Ram Meghwal, Lord Chancellor and Secretary of State for Justice of the United Kingdom Alex Chalk KC, Attorney General for India R Venkataramani, Solicitor General Tushar Mehta, Bar Council of India chairman and senior advocate Manan Kumar Mishra and others, including several judges of the apex court, were present at the event. Commenting on the legal system, he said the language used to write laws and in the judicial process plays a big role in ensuring justice. «We in the Indian government are thinking that law should be produced in two ways.

rescue operation, the Indian army personnel from the engaged in the rescue operation told ANI, “When we got the message in the morning, the water was at shoulder level. The people were stuck...As soon as we got to know, we brought a boat and rescued the people...We have provided drinking water and biscuits to them." As per District Collector Dr Vipin Itankar, because of the 100-125 mm incessant rainfall in the night, Ambajhari lake overflowed which resulted in waterlogging at the low-lying areas. While speaking to ANI, he said, "200-300 people were rescued from there by the NDRF and SDRF teams...There is an alert for rain today as well.

race has been shortened by three laps after MotoGP riders asked for race distances to be adjusted due to hot and humid conditions during practice sessions, organisers said on Saturday. Sunday's race will now feature 21 laps instead of the planned 24, while the sprint race scheduled for later on Saturday has also been cut short by one lap and will take place over 11 laps at the Buddh International Circuit. After Friday's two practice sessions, reigning champion Francesco Bagnaia said the conditions were «very demanding». «I've never felt heat like this,» he told MotoGP's website. «I thought Malaysia and Thailand were hot but here you feel like you're burning in some parts of the track.» The qualifying session will be held later on Saturday.