International Financial News

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Rail Vikas Nigam Ltd (RVNL), Indian Railway Finance Corporation (IRFC) ,IRCON International , RITES Ltd , RailTel Corporation of India share prices may see up to 30% more upside suggest technical thematic report by Prabhudas Lilladher Pvt Ltd. Rail Vikas Nigam Ltd (RVNL) share price is trading close to ₹284 levels. Prabhudas Lilladher has given a target price of ₹315-340 with a stop loss at ₹255 for Rail Vikas Nigam Ltd (RVNL) share price.

solar manufacturers filed trade complaints Wednesday formally requesting that the Biden administration impose tariffs on solar products being exported from Southeast Asia into the United States. The petitions were filed with the Department of Commerce and the U.S. International Trade Commission. They come amid growing alarm within the U.S. solar industry that a flood of cheap Chinese green energy technology exports are pushing down prices of solar panels and threatening efforts by the Biden administration to develop a domestic solar supply chain. Chinese companies have been relocating production of solar products to neighbouring countries to avoid existing tariffs, and U.S. manufacturers believe new trade measures are needed to protect their businesses. The complaints call for investigations into the trade practices of Vietnam, Cambodia, Thailand and Malaysia. In the past year, the United States has imported $12.5 billion worth of solar products from those countries as prices of solar products have dropped by around 50%.

KPI Green Energy Ltd.(up 5.00%), Inox Wind Energy Ltd.(up 4.37%), GE T&D India Ltd.(up 4.06%), Inox Wind Ltd.(up 3.89%), SJVN Ltd.(up 2.63%), Jyoti Structures Ltd.(up 1.77%), Kalpataru Projects International Ltd.(up 1.53%), JSW Energy Ltd.(up 1.35%), Karma Energy Ltd.(up 1.31%) and Torrent Power Ltd.(up 0.62%) were among the top gainers.

Vedanta will report its fourth quarter results later in the day and the company is expected to post muted numbers, according to various analysts' estimates. Adjusted net profit for the March quarter is likely to fall over 30% year-on-year, while revenues are seen falling up to 12% year-on-year.

controversial speech of Prime Minister Narendra Modi targeting Muslims in the country, an e-mail campaign has been started by a few non-resident Gujaratis who are writing to the Election Commission of India seeking action against him. At an election rally in Rajasthan, Modi had alleged that if voted to power, the Congress will redistribute the wealth of the country and give it to the Muslims, drawing criticism both from India’s opposition parties and global media. Speaking to ET from New York, Dakshesh Patel, who is settled in the US, said that a campaign has been launched in this regard and they expect to get at least one lakh emails sent to the EC from all over the globe.

Q4 results today: A total of 38 companies will announce their financial results for the fourth quarter of FY24 today, April 25. Bajaj Finance, Nestle India, Tech Mahindra, IndusInd Bank, L&T Technology Services, Schaeffler India, ACC, MphasiS, Coromandel International, Laurus Labs, Cyient, Jai Balaji Industries, Himadri Speciality Chemical,Tata Teleservices (Maharashtra), Olectra Greentech, Welspun Living, Zensar Technologies, Tanla Platforms, AAVAS Financiers, and UTI Asset Management Company will announce their Q4 results today.

Bajaj Finance, Nestle, Tech Mahindra, IndusInd Bank, Axis Bank, HUL, Kotak Bank among others will be in focus due to various related developments or quarterly earnings. Bajaj Finance, Nestle, Tech Mahindra, IndusInd Bank Shares of Bajaj Finance, Nestle, Tech Mahindra and IndusInd Bank will be in focus as the companies will announce their quarterly results later in the day.

India and Iran have finalized a long-term contract for the development of Chabahar port after more two decades of painfully slow negotiations with the oil-rich Gulf nation, periodically stymied by geopolitical tensions, according to three persons aware of the matter. A high-level delegation led by the Indian minister for shipping will be visiting Iran after India's general election. The visit, to take place in the second half of 2024, will be see the signing of the contract that will pave the way for full exploitation of this strategic port located in southeastern Iran and developed with Indian aid.

Russian funds tap into the stranded rupee balance generated in the trade between the two countries? In the course of negotiations, some of the Russian financial institutions have sounded out the Reserve Bank of India (RBI) on a mechanism that would let them use the rupees lying in special accounts in India for investment in stocks and securities here. Till now, 10 institutions from Russia, including its biggest lender, have registered as foreign portfolio investors (FPIs) with Sebi. But they have made little investments — probably, due to the hurdles in cross-border payments caused by US sanctions in the wake of Russia’s war with Ukraine. If, however, RBI permits the flow of rupees from the trade balance pool to the rupee accounts of Russian FPIs, the latter can invest the amount in securities listed on Indian exchanges. Under the framework suggested, the FPIs could match a transfer of rupees from the pool by paying the equivalent in roubles to Russian companies that have exported to India but are reluctant to accept payments in rupees.

The big U.S. aid package for Ukraine and other allies that President Joe Biden signed Wednesday also allows the administration to seize Russian state assets located in the U.S. and use them for the benefit of Kyiv

Iran was now able to share its knowledge with others, currently having projects in 20 countries. The Uma Oya project, in the central Badulla district, was constructed with Iranian technical assistance.

Iranian President Ebrahim Raisi says his country has proven the West doesn’t have a monopoly on technology while inaugurating a hydropower and irrigation project in Sri Lanka

A team of experts from the U.N. nuclear agency has inspected the tsunami-hit Fukushima Daiichi nuclear power plant for a review of its discharge of treated radioactive wastewater into the Pacific

The Biden administration is setting new rules on airline fees and refunds

A ship near the strategic Bab el-Mandeb Strait has seen an explosion in the distance, marking what may be a new attack by Yemen’s Houthi rebels through the crucial waterway for international trade

WTO's 164 members, 125 have agreed on the text of the Investment Facilitation for Development Agreement (IFDA). They are convinced it will help them to attract more FDI for growth, and want to annex it to WTO's main rules. 89 of these 125 members are developing countries, 27 LDCs. IFDA focuses on increasing transparency and reducing bureaucracy to make the investment process easier, but contains no prescriptions on investment policy, market access, investment protection and investor-state dispute settlement. Among other things, IFDA addresses:

Ajit Doval had a bilateral meeting with His Excellency Mr. Nikolai Patrushev, Secretary of the Security Council of the Russian Federation," the embassy said in a post on X. "Both sides reviewed progress in bilateral cooperation and discussed important issues of mutual interest," it added.

Toronto-Dominion Bank still sees foreign students as an important source of growth even as Prime Minister Justin Trudeau’s government has ushered in new caps on study permits in a bid to ease rental-housing demand.

Canadian consumers haven’t tightened their belts this much in nearly a year, and there are no signs of spending growth since the start of 2024.

In a stock exchange filing today (24 April), Schroders said Harrison is expected to step down from his role sometime next year but will remain as a director of the company throughout the transition period. The firm has hired headhunter Russell Reynolds to find potential candidates to take over the leadership of the FTSE 100 group, people familiar with the matter told the FT. Internally, there are four potential candidates who could step into the group CEO role: CFO Richard Oldfield; group CIO Johanna Kyrklund; global head of private assets Georg Wunderlin; or group COO Meagen Burnett....