Indus Financial News

Karnataka Deputy Chief Minister DK Shivakumar is the richest MLA in the country. According to a report by the Association for Democratic Reforms (ADR) and National Election Watch (NEW), DK Shivakumar, the Karnataka Pradesh Congress Committee (KPCC) president, holds the title of the richest MLA with an assets worth Rs 1,413 crore. In his 2023 affidavit to Election Commission, Shivakumar had stated that he has a total of Rs 273 crore in immovable assets and Rs 1,140 crore in movable assets.

New Delhi: Paddy farmers in Punjab and Haryana are in distress as 60% of their cultivated land is under water after the extremely heavy rainfall between 7 July and 10 July. This may hit yields significantly resulting in lower crop production if the paddy fields are not affected further. Punjab and Haryana have witnessed rainfall in large excess of 96% and 91% above the long period average (LPA), respectively during 1 June to 12 July.

«One needs to watch out how Reliance integrates the financial service arm with the retail and telecom business to procure supply chain discounting or merchant vendor discounting or consumer financing,» says Sushil Choksey, Director, Indus Equity Advisors.How much value unlocking do you see with this demerger for Reliance and its shareholders? There is going to be a significant amount of unlocking, would not you agree?Yes, it is certainly a very positive event for Reliance shareholders because not only 6.1% Reliance treasury shares are being transferred here and that in today's market value at closing price is Rs 1,14,000 crores approximately plus Rs 28,000 crores of net worth which is currently owned and all the related financial service or insurance and all the license and maybe the payment bank is part of this entity. So, one needs to watch out how Reliance integrates the financial service arm with the retail and telecom business to procure supply chain discounting or merchant vendor discounting or consumer financing.

Indus Water Treaty between the two nations. India and Pakistan signed the treaty in 1960 after nine years of negotiations.  At a weekly media briefing, Foreign Office (FO) spokesperson Mumtaz Zahra Baloch was asked about options for Pakistan if India refused to accept the Court of Arbitration and its verdict on the Kishanganga and Ratle reservoirs issue, according to PTI reports.  “The Indus Waters Treaty was a gold standard of bilateral treaties on water and served both Pakistan and India well," she responded.  It is pertinent to note that the treaty sets out a mechanism for cooperation and information exchange between the two countries regarding the use of waters of a number of rivers.  In 2015, Pakistan requested the appointment of a neutral expert to examine its technical objections to India’s Kishenganga and Ratle Hydro Electric Projects (HEPs).

Indus Towers, NMDC, Oil India and HDFC Asset Management Company were among the top ten midcap stocks that mutual funds bought during the month of June. According to the latest Association of Mutual Funds in India (AMFI) data, equity mutual funds have witnessed a net inflow of ₹8,245 crore in June 2023, registering a sharp growth from ₹2,906 crore in May 2023.

The recently announced 28% GST on the gaming indus... moreThe recently announced 28% GST on the gaming industry has set the cat amongst the pigeons.

Adani group stocks aggressively in the month of June with three of the conglomerate's companies — Adani Green, Adani Transmission, and Adani Enterprises — featuring among the top buys of fund houses. For Adani Green, mutual funds have added 4 lakh shares, taking their total holding to 18 lakh shares as of June, that is valued at Rs 167 crore. Meanwhile, domestic fund houses have added 3 lakh shares in Adani Transmission and further 19 lakh shares in the group's flagship entity Adani Enterprises.

Schools in New Delhi have closed after heavy monsoon rains battered the Indian capital, caused landslides and flash floods in the country’s north and killed at least 15 people over the last three days

₹180, driving 2.3% QoQ growth in revenue and 2.5% QoQ growth in EBITDA. For Bharti, we expect MBB subs addition at ~6 million, resulting in a 1.8% QoQ rise in ARPU to ₹196, driving 2.4% QoQ growth in India wireless revenue and 2.3% QoQ growth in EBITDA. We expect VIL’s subs losses to continue; however, its ARPU is likely to rise 1.7% QoQ to ₹137.

Indian Army formations carried out drills in Eastern Ladakh to cross the Indus River and attacks in enemy positions. Team ANI witnessed the special drills carried out by Indian Army's tank formations including the T-90 and T-72 tanks and BMP infantry combat vehicles to cross the mighty Indus river which flows from the Tibetan territory controlled by the Chinese Army through the entire Ladakh sector before entering Pakistan.

stocks of Jindal Steel, Punjab National Bank, IDBI Bank, Canara Bank, TVS Motor Corp, and Tube Investments were upgraded from mid-cap to large-cap by the Association of Mutual Funds in India (AMFI) in its semi-annual classification of stocks.Mankind Pharma, listed recently after a primary market offering, was a new entrant in the large-cap category. In a list released by AMFI on Wednesday, companies such as FSN E-Commerce (Nykaa), JSW Energy, Tata Elxsi, Indus Towers, and Page Industries were downgraded from large-cap to mid-cap.

Narendra Modi's state visit to the US in June has sparked unprecedented momentum in the India-US defence ties. As competition in the Indo-Pacific escalates, the US is keen to give India access to top-grade military technology and flesh out the latter's role as a 'major defence partner'. But, for Delhi, stronger defence ties with the US are not an achievement.

On Tuesday, 4 July, Tina Ambani, the wife of indus... moreOn Tuesday, 4 July, Tina Ambani, the wife of industrialist Anil Ambani appeared before the Enforcement Directorate in Mumbai for questioning and to provide her statement regarding an investigation related to the alleged violation of foreign exchange regulations.