Trade Financial News

Hinduja Group received the central bank's approval to acquire the financial services company, but the transaction cannot proceed until it is approved by the Department for Promotion of Industry and Internal Trade (DPIIT). The Hindujas need DPIIT's approval because IIHL (IndusInd International Holdings), the acquisition vehicle, has 600 shareholders from the UAE, Singapore, Hong Kong, and Mauritius, with 39 shareholders residing in Hong Kong, which is classified as a land-border country under PN3 due to its special administrative relationship with China, said a source. This has raised compliance questions under PN3, prompting deeper scrutiny by Indian regulators.

According to early reports from the trade circuit, the combined collection of these two releases for the last weekend (Friday to Sunday) was ₹231.4 crore. While Singham Again made box-office collections of ₹121.2 crore, Bhool Bhulaiyaa collected ₹110.2 crore, they said. «After a long period, two big films released in theatres on the same day. The festival period provided the much-needed boost required at the box office in terms of strong collections,» said Girish Wankhade, a movie trade analyst. These films, however, are not competing at the box office, he said. «Screens were not proportionately shared between these two films. The ratio of screen count between the two films is 60:40 with Singham Again receiving 60% of the total screens...»

Sebi on Monday asked five entities, including Netizen Engineering and Citi Securities and Financial Services, to pay Rs 130 crore for the illegal diversion of funds from Reliance Home Finance Ltd. The regulator has warned these entities to attach assets and bank accounts if they fail to make the payment within 15 days. Those who have sent notices are Netizen Engineering Pvt Ltd, Gamesa Investment Management Pvt Ltd, Vinayak Ventures Pvt Ltd, Deep Industrial Finance Ltd and Citi Securities and Financial Services Pvt Ltd.

Subscribe to enjoy similar stories. Dwindling footfalls in recent years, in part due to steep ticket prices, have prompted theatre chains to announce a string of Cinema Day-like occasions to lure audiences with tickets priced as low as ₹99. Initiatives like this may have spurred a jump in footfalls on those special days, but such one-off occasions may not be enough for theatre chains to sustain demand, experts said.

US election 2024 results are set to be declared after November 5 polling day as millions of American voters will pick their next President between Donald Trump and Kamala Harris. A new poll showed Democratic candidate Kamala Harris leading in Iowa ahead of a Tuesday vote, even though rising bets of a win for Republican candidate Donald Trump in the recent weeks had lifted bond yields, dollar and bitcoin, as per a Reuters report. Stocks viewed as bets on the former president's chances of victory dipped in premarket trading, while a drop in 10-year Treasury yield from its recent high eased pressure on the broader market. Trump Media & Technology Group slipped 5 per cent and software developer Phunware that made apps for Trump campaign in 2020 fell 8.9 per cent, as per the Reuters report.

IRCTC) on Monday reported 4% growth in its consolidated net profit to Rs 308 crore for the quarter ended September 30, 2024. It was Rs 295 crore in the last-year quarter. Consolidated revenue from operations for the reporting period stood at Rs 1,064 crore, up 7% compared with Rs 992 crore posted in the corresponding period of last year.

Subscribe to enjoy similar stories. Even as the world increasingly moves toward digitized commerce, where transactions are conducted with the tap of a credit card and billions of dollars are moved electronically between banks, there is one group of people for whom hard cash is still king: collectors. As an alternative asset class, collectible banknotes offer significant potential value to investors, and the market for these paper artifacts is thriving.

NSE), which is gearing up for its IPO next year, on Monday announced that its Q2 consolidated profit after tax jumped 57% year-on-year (YoY) to Rs 3,137 crore due to an 8% drop in expenses. NSE's September quarter operating revenue rose 24% YoY to Rs 4,510 crore. Apart from trading revenue, the revenue from operations was also supported by other revenue lines which mainly includes clearing services, data centre & connectivity charges, listing services, index services and data services.

Markets regulator Sebi on Monday allowed mutual funds (MFs) to invest in overseas mutual funds or unit trusts that invest a specific portion of their assets in Indian securities. This is subject to the total exposure to Indian securities by such overseas funds not exceeding 25 per cent of their net assets. The move is aimed at facilitating ease of investment in overseas MF/UTs, bringing transparency in the manner of investment, and enabling MFs to diversify their overseas investments, Sebi said in a circular.

On the BSE, Prudent Corporate Advisory Svcs(down 17.26 per cent), Veer Global Infraconstruction(down 11.53 per cent), Maan Aluminium(down 9.98 per cent), Mefcom Capital(down 9.54 per cent) and Poly Medicure(down 9.04 per cent) stood among the top losers in today's trade.

stood among the top gainers.

Future Consumer Ltd.(up 4.35%), Gillette India Ltd.(up 4.34%), Bikaji Foods International Ltd.(up 2.11%), LT Foods Ltd.(up 0.24%) and Zydus Wellness Ltd.(up 0.18%) stood among the top gainers.

Domestic benchmark index NSE Nifty ended 309.0 points at 23995.35, while the BSE Sensex closed 941.88 points down at 78782.24.

GE Power India Ltd.(up 5.00%), Indo Tech Transformers Ltd.(up 5.00%), KKV Agro Powers Ltd.(up 4.99%), Jyoti Structures Ltd.(up 4.99%), Transformers & Rectifiers(India)Ltd.(up 4.97%), KPI Green Energy Ltd.(up 2.63%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%) and Hitachi Energy India Ltd.(up 0.33%) stood among the top gainers.

stocks rallied as much as 15% in Mumbai trading on Monday even as equity benchmarks, BSE Sensex and NSE Nifty, traded in the amid brisk in frontline bluechip counters. Stocks that surged in excess of 15% included, Shree Metalloys(19.99%), Gravity(India)(19.93%) and Shree Rama Multi(19.31%).

Benchmark NSE Nifty closed 309.0 points down at 23995.35 amid selling in frontline bluechip counters.

Shares of Punjab National Bank(up 2.65 per cent), Au Small Finance Bank Ltd.(up 1.32 per cent), State Bank of India(up 1.06 per cent), IndusInd Bank Ltd.(up 0.13 per cent) and Federal Bank Ltd.(up 0.06 per cent) ended the day as top gainers in the pack.

Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 2.36%), Paradeep Phosphates Ltd.(up 0.69%), Bohra Industries Ltd.(up 0.52%) and Krishana Phoschem Ltd.(up 0.41%) stood among the top gainers.

portfolio is to generate returns. Returns, in turn, are influenced by the allocation of investments between cash, fixed income, Hybrid, equity, and alternates. Each of these investments carry a different level of investment risk that increases as one moves from cash to alternatives.

Finance Corporation (IRFC) on Monday announced its results for the second quarter ended September 2024, wherein the company reported a 4% jump in its profit after tax (PAT) at Rs 1,612.65 crore on a year-on-year (YoY) basis while the revenue from operations surged by 2%. PAT was reported at Rs 1,544.58 crore for the same quarter of the previous financial year.

Dr. Reddy's Laboratories is likely to report healthy double-digit growth in sales in the second quarter, mainly driven by strong domestic and US businesses. However, the bottom line is seen declining in the reporting period. Net profit for the July-September 2024 period may fall 3% year-on-year, according to an average estimate of four brokerages. Meanwhile, sales are likely to grow 13% year-on-year, the estimates revealed.