Trade Financial News

YES Bank, Sanghi Industries, ZEE, Mahindra Finance among others will be in focus due to various news developments. Restaurants Brand Asia Goldman Sachs Funds sold nearly 48 lakh shares worth Rs 50 crore in Restaurants Brand Asia (RBA) on Tuesday through a block deal.

DALIAN, China — For China's yuan to be used more globally, the currency needs more «applications» such as for stocks and bonds, Bonnie Chan, CEO of Hong Kong Exchanges and Clearing Limited, said on a panel Tuesday.

Fintech platform Altruist has unveiled a new raft of tools to help independent advisors manage their clients’ portfolios in a more tax-efficient way.

Bharatiya Mazdoor Sangh, a Rashtriya Swayamsevak Sangh-affiliate central trade union, demanded that the Centre extend the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) for 200 days for each family from 100 now, include agriculture and allied sector work under the scheme and restore the old pension scheme. In its pre-budget meeting with finance minister Nirmala Sitharaman on Monday, BMS general secretary Ravindra Himte demanded a five-fold increase in the minimum pension under the Employees' Pension Scheme (EPS), 1995, to ₹5,000, along with enhancement of honorarium of scheme workers, especially for accredited social health activists as well as Anganwadi, Midday Meal Scheme and National Health Mission workers.

rupee traded flatish on Tuesday with a gain of 3.5 paise at the end of the trading session. This is the third consecutive session where the local currency has gradually gained in expectation of index inclusion that will happen this week. The rupee closed at 83.432/$1 on Tuesday. As the month-end approaches, the demand from local oil companies makes the rupee trade lower, but such a case was not seen this month.

Following the 2007-2008financial crisis, central banks from 28 countries and bank regulators devised an international regulatory accord called Basel III. Published in 2010, it promised common standards for measuring, reporting and managing financial risk across all 28 jurisdictions by imposing new, higher capital charges — the money a bank holds in reserve to cover bad loans and losses from trading stocks, bonds, derivatives and other financial products.

Quant’s offices in Mumbai and Hyderabad on 21 June for a search and seizure operation triggered by suspicion of front-running by Quant’s employees. “Look around you. Do you see any disruption? We are all carrying on our usual work," said Tandon when this reporter visited the Quant MF office in Mumbai.

Modi 3.0 Budget 2024 Expectations: What are Finance Minister Nirmala Sitharaman's plans for taxpayers?The need to protect domestic industry from dumping of Chinese products featured prominently in the discussions."We represented our industry pain points, which are imports from China and the threats we face from China," said Ajay Sardana, chairman - National Expert Committee on Chemical and Petrochemical, Indian Chamber of Commerce."China has created a lot of overcapacity. After the pandemic, with the demand coming down, they are dumping products in India at a cheaper price.

Shaktikanta Das while addressing the 188th AGM of Bombay Chamber of Commerce & Industry in Mumbai informed that India is at the threshold of a major structural shift in its growth trajectory as it moves towards 8% GDP in a sustained manner. «India is at the threshold of a major structural shift in its growth trajectory moving towards 8% GDP growth in a sustained manner,» said the RBI governor in Mumbai. Speaking on RBI's forecast of 7.2% growth, the governor flagged concerns such as weather, geo political conflicts, fragmentation in trade and other challenges like heightened financial sector volatility that could hurt the forecast but remains confident of achieving the predicted growth.

Quant Mutual Fund, which is under the Securities and Exchange Board of India (SEBI) scanner over an alleged front-running case, is one of the country's fastest-growing fund houses. According to data collected from ValueResearch, it has a total assets under management (AUM) of more than ₹84,000 crore.The decade-old fund house has generated high returns over the years for investors, thanks to the best-performing mutual fund schemes in its arsenal. Here is a list of best-performing funds from Ouant MF (as per data collected from ValueResearch reports):1.

Signup:https://www.binance.com/en-AE?ref=DUBAIAlex Chehade, General Manager of Binance FZE, emphasized the significance of this milestone, affirming, “This marks a significant step forward in our dedication to delivering secure, compliant, and top-tier services to our global user base. It highlights Dubai's forward-thinking ethos, recognizing and embracing the financial opportunities presented by blockchain technology."Binance Referral Code DUBAI gives you 20% discount on trading fees and you have the option to save 25% extra when you use BNB tokens to pay fees.

Garden Reach Shipbuilders (GRSE) enjoyed another bullish day as the PSU's stock surged 18% to reach a new all-time high of ₹2,065 apiece during today's intraday trade, before closing the session with a 11% gain at ₹1,946.Today's rally pushed the stock's gains to multibagger returns of 123% in CY24 so far. This remarkable rally builds on the stock's steady gains over the last three years, ending CY23 with an 80% increase.

bank move as administrative in nature to ensure a smooth leadership transition in the Kolkata-based lender, but concerns over Bandhan Bank's asset quality perhaps kept investors anxious. The stock price closed lower at Rs 203.70 on BSE Tuesday, about 16% fall from Rs 242 seen on the first trading day of the year. «While the market may fear that there could be more skeletons in the closet — in terms of further increase in the stress pool — we believe this (appointment of additional director) is more of a prudent measure exercised by the RBI,» said Suresh Ganapathy, managing director and head of financial services Research at Macquarie Capital.

Nifty ended Tuesday’s session 183 points higher to form a long bull candle on the daily chart and surpassed 23,600 hurdle after two weeks of consolidation. The short-term trend of Nifty remains positive. The market is now showing early signs of upside breakout in the near term. The next upside levels to be watched are around 24,000. Immediate support is placed at 23,550, said Nagaraj Shetti of HDFC Securities.

external debt was placed at $663.8 billion, an increase of US$ 39.7 billion over its level at end-March 2023, informed the Reserve Bank of India on Tuesday. If the valuation effect were excluded, external debt would have increased by $48.4 billion instead of $ 39.7 billion. Despite the rise, the country's external debt to GDP ratio declined to 18.7 per cent at end-March 2024 from 19 per cent at the end of March 2023. The ratio comprises both government and non-government Debt. As per the data provided by the central bank, the government's external debt stood at 4.2 per cent of GDP while the non-government sector's external debt was placed at 14.5 per cent. «US dollar-denominated debt remained the largest component of India’s external debt, with a share of 53.8 per cent at end-March 2024, followed by debt denominated in the Indian rupee (31.5 per cent), yen (5.8 per cent), SDR (5.4 per cent), and euro (2.8 per cent),» said country's central bank in the statement.

Income Tax Filing: As the deadline of July 31 for filing Income Tax Returns (ITR) approaches, taxpayers who have engaged in transactions involving shares, mutual funds, jewellery, real estate, and derivatives trading must ensure accurate reporting of their capital gains and losses. The correct disclosure of these transactions is essential for maintaining financial compliance and avoiding penalties.

Billionaire Mark Cuban has sold a part of his non-fungible token (NFT) collection, including a Pudgy Penguin for over $30,000.

Hong Kong government entities have attended a tech conference in Toronto, where they showcased the city’s offshore ready-to-move technology hub for Canadian crypto and Web3 startups.

Bitcoin spot ETFs have been experiencing significant net outflows, with the trend continuing for seven consecutive days.

Bitcoin will be the go-to asset for securing wealth generated by artificial intelligence (AI) in the coming decade, according to prominent Bitcoin advocate and venture capitalist Anthony Pompliano.

Vraj Iron IPO date: Vraj Iron and Steel IPO opens for subscription on Wednesday, June 26, and closes on Friday, June 28.Vraj Iron IPO price band: Vraj Iron and Steel IPO price band has been fixed in the range of ₹195 to ₹207 per equity share of face value of ₹10.Vraj Iron IPO lot size: Vraj Iron and Steel IPO lot size is 72 equity shares and in multiples of 72 equity shares thereafter.Anchor investors: The allocation to anchor investors for Vraj Iron and Steel IPO is scheduled to take place today (Tuesday, June 25).Vraj Iron IPO details: Vraj Iron and Steel IPO, worth ₹171 crore is completely a fresh issue of 8,260,870 equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).Vraj Iron IPO objective: The company plans to use the proceeds from the IPO for general corporate operations and an expansion project at the Bilaspur site.Vraj Iron IPO listing date and allotment details: It is tentative that on Monday, July 1, the Vraj Iron and Steel IPO basis for share allocation will be finalized. On Tuesday, July 2, the business will begin refunds, and the shares will be deposited to the allottees' demat accounts the same day after the refund.