WhatsApp Financial News

Tech Mahindra's former Executive Vice Chairman Vineet Nayyar passed away on Thursday at the age of 85. His former colleague and friend CP Gurnani, also a former Tech Mahindra VC, took to X to share the demise of Nayyar and expressed his grief.

NCW has summoned the aide of Delhi Chief Minister Arvind Kejriwal on Thursday over allegations of assault of AAP Rajya Sabha MP Swati Maliwal. The hearing of Bhibhav Kumar is scheduled for Friday at 11 AM, according to the summon. The National Commission of Women (NCW) took suo moto cognizance of a media post titled «Ex-DCW chief Swati Maliwal accuses Arvind Kejriwal's personal secretary of assaulting her,» where she claimed that she was brutally assaulted at the Chief Minister's residence by Shri Bhibhav Kumar, Kejriwal's Private Secretary. In light of these accusations, the Commission issued a notice, emphasizing that failure to comply could result in further actions as deemed necessary by them.

trading session, the following five stocks witnessed a build-up of fresh short positions. Let's understand how this conclusion is reached whether the stock has seen a buildup of fresh short position or not. To understand it, we look at what “ short selling” means. When a trader is expecting the stock prices to fall, he may sell the stock without owning that and buy at a lower price, for example, stock XYZ is trading at 100, a trader sells the stocks at Rs 100 and buys it back at Rs 90. He made a profit of Rs 10. Selling the stocks without owing the underlying stock is called short selling. Coming to the buildup of fresh short positions, When the stock prices move downward and open interest on the counter increases, it is taken as a sign of a short build-up. The signal is considered more reliable if the volume on the counter has also seen an increase as the stock price declines.

Crompton Greaves Consumer Electricals Ltd. traded 0.51 per cent down at Rs 336.15 on Thursday at around 01:53PM (IST), while the benchmark BSE Sensex declined 335.06 points to 72651.97. As many as 50,695 shares changed hands on the counter with a total value of Rs 1.7 crore.

Open interest indicates that bulls are likely to dominate the following counters. In Thursday’s trading session, the following five stocks witnessed a build of fresh long positions. Let us first understand how this conclusion is reached whether the stock has seen a buildup of fresh long position or not. When the stock prices move up and open interest on the counter also moves upward, it is taken as a sign of a long buildup. The signal is considered more reliable if the volume on the counter has also seen an increase.

Cholamandalam Investment & Finance Company Ltd. gained 1.54 per cent to Rs 1250.0 at 11:00AM (IST) in Thursday's trade. The scrip has hit a high of Rs 1252.0 and low of Rs 1232.7 so far during the session. The stock had closed at Rs 1230.95 in the previous session. The counter has had a total traded volume of 10803 shares so far with a value of Rs 1.34 crore on the NSE. It traded at a price-to-earnings multiple of 30.13 and a price-to-book ratio of 4.96.

Indian Oil Corporation Ltd. traded 0.55 per cent up at Rs 162.85 at 10:55AM (IST) on Thursday, even as BSE benchmark Sensex dropped 114.83 points to 72872.2. The scrip had settled at Rs 161.95 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 196.8 and Rs 84.8, respectively.

Nirmala Sitharaman found herself in a tricky situation at an event when a broker raised concerns about the high taxes imposed on stock market brokers and real estate transactions. The broker pointed out the significant tax burden on stock market operations and real estate transactions, labeling the government as a «sleeping partner» that reaps benefits from these taxes without sharing the operational burdens. Speaking at a BSE event, the broker emphasized that despite their investments and risks, the government gains substantially from various taxes, including GST, IGST, Stamp Duty, Securities Transaction Tax (STT), and Long-Term Capital Gains (LTCG) Tax. «Today Government of India is earning more than the broker. So I am investing everything, I am taking a whole lot of risk and government of India is taking away entire profit of mine. You are my sleeping partner, I am a working partner with my finance, my risk, my staff, everything,» the broker said.

hoarding collapse incident in Ghatkopar, Brihanmumbai Municipal Corporation (BMC) Commissioner Bhushan Gagrsaid that it was a tragic incident and informed that the rescue operation has been completed. «This was a tragic incident in which 16 people died. The rescue operation has been completed. Here is an active petrol pump; that's why our rescue operation was delayed,» Gagrani said. The BMC Commissioner stated that Maharashtra Chief Minister Eknath Shinde has ordered all hoardings to be checked.

Biocon with a target price of Rs 370. The current market price of Biocon Ltd. is Rs 311.55. Biocon Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 37404.69 Crore) operating in Pharmaceuticals sector.

Karachi, by mentioning India's moon landing mission. The Muttahida Quami Movement Pakistan (MQM-P) leader said that while India is landing on the moon, Karachi is making news of children being killed by falling in open gutters.

BEML with a target price of Rs 4004. The current market price of BEML Ltd. is Rs 3782.45. BEML Ltd., incorporated in the year 1964, is a Mid Cap company (having a market cap of Rs 15729.34 Crore) operating in Engineering sector.

Avendus Wealth Management has appointed Apurva Sahijwani as its managing director and CEO. Sahijwani will lead the seasoned wealth team and leverage the entire Avendus platform, with unique understanding of value creation, to advise clients holistically, according to a press release by the financial services firm.

Raj Thackeray ‘not bonded by fevicol yet: Shiv Sena recently invited MNS chief Raj Thackeray to address a rally in support of its Lok Sabha candidates Shrikant Shinde (CM Eknath Shinde's son) and Naresh Mhaske. Before Thackeray, Shinde said how partners BJP, Sena and NCP, including MNS that is supporting the coalition from outside, are 'bonded by fevicol'. However, Thackeray spoke against migrants and NCP's Chhagan Bhujbal for 'splitting' Shiv Sena several years ago. While crowds and Sena and BJP leaders were startled, Thackeray said he could speak his mind as he was supporting from outside. «They still haven't put fevicol on me,» said Thackeray. Adopting Ways to Woo Voters The prime minister and BJP have always adopted several innovative ways to reach out to voters. NaMo app is promoting blue, orange and white t-shirts and caps to seek votes for the party. The slogan #PhirEkBaarModiSarkar, #ModiKaParivar, #ModiHaiToMumkinHai and #ModiKiGuarantee are written on the merchandise and people can book them through the app. Also available are mugs, badges and wristbands. The famous Modi masks which were worn by his supporters at BJP rallies are, however, not on the list this time.

Narendra Modi on Wednesday alleged that Congress was planning to allocate 15% of the country's budget to Muslims, adding while he was accused of doing Hindu-Muslim politics, it was the Opposition party that was guilty of doing it. «Congress is doing the Hindu-Muslim politics… Their ecosystem is claiming that Modi is doing Hindu-Muslim talk but Modi is exposing those (Congress) who are doing Hindu-Muslim to break the country,» he said in an election rally in Kalyan. Earlier, he also addressed a rally in Nashik. «Congress wants to do a budget for Hindus and a budget for Muslims,» he alleged. «Congress was doing this sin that I opposed and if Congress and the Indi Alliance come to power, they will do the same. Do we want to keep the country together or not, is it good to divide Indians like this?» he said.

Vodafone Idea (Vi), boosted by a recent equity funding, plans to open more retail outlets across this fiscal in a bid to grow sales and improve customer stickiness, crucial for the cash-strapped telco to intensify its competition against stronger and bigger rivals Reliance Jio and Bharti Airtel. «Our objective is to get as close to the customer as possible. We want to ensure our presence in all key markets and towns. In FY25, you will see us launching more Vi shops and Vi mini stores,» Abhijit Kishore, chief operating officer, Vi, told ET over email. Vi, promoted by the Aditya Birla Group and UK's Vodafone Group, has three formats of retail outlets — Vi stores, Vi shops, and Vi mini stores. The telco is also focusing on extensive automation and digitisation to connect with consumers across touch points.

government expects its tax revenues in the first quarter to exceed budgeted growth but is likely to stick to the interim budget revenue estimates in the full budget. Officials said the full-year projection in the interim budget was realistic and arrived at after taking into account multiple factors including global headwinds. «With continuity in tax policy we will stick with the collection target given in the interim budget, which was arrived at after considering margins for both upside and downside trend,» said one of the officials. For the current financial year (2024-25), the Centre has pegged its gross revenue collections at ₹38.30 lakh crore, a growth of 11.45% over the revised estimates for FY 2023-24.

Congress leader Rahul Gandhi on Wednesday alleged that the BJP wants to destroy the Constitution and remove the reservation provided to tribals, Dalits, and backward class. Gandhi was addressing a public meeting in Bolangir, Odisha. «BJP wants to tear this book, but we in the Congress and the people of India will not allow it,» Gandhi said while holding a copy of the Constitution in his hand.

Power Finance Corporation (PFC), the country's largest lender to the power sector, said the Reserve Bank's recent draft guidelines on infrastructure project financing will not impact its profitability. The company said it has sufficient capital adequacy to counter the provision if it gets implemented. «We are examining those guidelines in detail, but what we understand is that these guidelines have been issued for the projects under implementation. I would like to say that in such a case, we are not going to have any impact on the profitability,» said Parminder Chopra, chairperson and MD of Power Finance Corp.

Francis Ford Coppola is amid a massive controversy as allegations of sexual harassment have emerged against him on the set of 'Megalopolis', which is set for a release at the Cannes Film Festival. According to a 'Variety' report, it was alleged that Coppola was involved in kissing extras on set. However, the executive producer of Megalopolis has defended Coppola claiming that he did kiss some extras on the set but 'in a friendly manner'.

tax on domestically produced crude to Rs 5,700 per tonne from earlier Rs 8,400 per tonne. The export duty on petrol diesel and aviation turbine fuel (ATF) will continue to be nil. The new rates will be effective May 16 2024, Central Board of Indirect Taxes and Customs ( CBIC) said in a late night notification Wednesday.