India's manufacturing growth slowest in 3 months due to intense heat wave in May
Jun 03, 2024, at 10:47 pm
New Delhi: India's manufacturing sector experienced a slowdown in May, reaching a three-month low, due to an intense heatwave that disrupted production volumes, resulting in a more moderate increase in new orders and output. Despite this, the sector continued to operate in expansionary territory during May, according to a survey.
State Bank of India becomes 7th Indian listed company with market cap of Rs 8 lakh cr
Jun 03, 2024, at 09:34 pm
Mumbai: State-run lender State Bank of India has become the seventh Indian listed company to surpass a market capitalization of Rs 8 lakh crore.
Nifty, Sensex rise over 3%; Volatility Index falls to 20%
Jun 03, 2024, at 08:33 pm
Mumbai: Markets rode a wave of optimism with both Nifty and Sensex rising over 3 percent around noon on June 3. The rally in the Indian markets kicked in after exit polls on June 1 predicted a decisive win for the NDA government, media reported.
FPIs may cut bearish bets, releasing bulls on D-Street today following BJP’s exit poll surge
Jun 03, 2024, at 08:29 pm
Mumbai/IBNS: Traders and experts predict that overseas investors, known as Foreign Portfolio Investors (FPIs), will reduce their negative bets on the stock market on Monday (June 3) after the exit polls released on Saturday (June 2) indicated a strong performance by the Bharatiya Janata Party (BJP) in the national elections, reports said.
Investor wealth shoots by Rs 12.48 trillion in Monday morning trading sessions
Jun 03, 2024, at 07:16 pm
Mumbai: Investors saw their wealth swell by Rs 12.48 trillion during Monday morning's trading session as the benchmark equity index, Sensex, reached an all-time high, reported media.
Adani Group stocks surge, adding Rs 2.6 lakh crore in two sessions
Jun 03, 2024, at 06:39 pm
Mumbai: Adani Group stocks continued their upward momentum for the second straight session on Monday, reflecting the bullish trend in Indian equities, following exit polls predicting the return of Narendra Modi as Prime Minister of India.
Amul hikes milk prices by Rs 2/lt across all variants with effect from today
Jun 03, 2024, at 06:06 pm
Ahmedabad/IBNS: The Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets its dairy products under the brand name 'Amul', on Sunday (June 2) hiked the prices of milk by Rs 2 per litre across all variants, reports said.
Sensex shoots up by 2,000 points after exit polls show Modi's landslide victory in Lok Sabha polls
Jun 03, 2024, at 03:59 pm
Mumbai/IBNS: The Indian stock market zoomed past by 2,000 points since the morning bell on Monday, in tune with the exit polls showing the return of the Modi government with a landslide victory in the Lok Sabha polls.
Lok Sabha 2024: Post exit poll predictions, healthcare sector expects bigger push in Modi 3.0
Jun 03, 2024, at 02:44 am
New Delhi: After the seventh and final phase of voting in the 2024 Lok Sabha elections, exit polls have forecasted a third term for the National Democratic Alliance (NDA) led by the Bharatiya Janata Party (BJP).
Jun 02, 2024, at 11:45 pm
Mumbai: Market veteran Sushil Kedia, who has been bullish on a third term for NDA, feels that the actual poll verdict might surpass the predictions and anticipates an "explosion" in the market, with almost all stocks rallying, but opines that the subsequent phase would be driven by stocks that have underperformed so far, media reported.
Jun 02, 2024, at 10:12 pm
Mumbai: With all eyes trained on the Lok Sabha Election results, illegal betting in grey markets have garnered attention with their survey predictions, especially now when their calculations have fallen in line with those of exit polls, according to media reports.
Gautam Adani replaces Mukesh Ambani as Asia's richest man on Bloomberg Billionaires Index
Jun 02, 2024, at 08:42 pm
Mumbai: Billionaire Gautam Adani has reclaimed the title of Asia’s richest person from Reliance Industries Chairman Mukesh Ambani, according to the Bloomberg Billionaires Index.
Tesla investor sues Elon Musk for alleged $7.5 billion insider trading
Jun 01, 2024, at 11:34 pm
Delaware/IBNS: Tesla CEO Elon Musk has landed in yet another controversy as he has been named in a shareholder lawsuit for allegedly being involved in $7.5 billion insider trades at the electric car manufacturer, reports said.
Govt slashes windfall tax on petroleum crude to Rs 5,200 pmt
Jun 01, 2024, at 09:20 pm
New Delhi/IBNS: The government has reduced the windfall tax on petroleum crude to Rs 5,200 ($62.33) per metric ton, down from Rs 5,700 per metric ton, according to a notification issued on Friday (May 31).
Orient Electric appoints Ravindra Singh Negi as Managing Director and CEO
Jun 01, 2024, at 05:45 am
New Delhi: Orient Electric Limited, part of the diversified USD 3 billion CK Birla Group, announced today the appointment of Ravindra Singh Negi as its Managing Director and CEO.
Canara Bank to dilute 14.50% stake in Canara HSBC Life Insurance Company via IPO
Jun 01, 2024, at 05:28 am
Mumbai: Public sector lender Canara Bank has approved a proposal to dilute a 14.50 percent stake in its insurance subsidiary, Canara HSBC Life Insurance Company, via an initial public offering (IPO), the bank announced on the exchanges on May 31.
Centre used Rs 9,48,506 cr in Capex in FY24
Jun 01, 2024, at 04:57 am
New Delhi: The Centre utilized Rs 9,48,506 crore for capital expenditure in FY24, nearly matching the revised estimate (RE) of Rs 9,49,555 crore, accounting for 99.9 percent of the RE, according to government data released on Friday.
India's FY24 fiscal deficit at 5.6% of GDP lower than estimated 5.8%
Jun 01, 2024, at 04:30 am
New Delhi: India's fiscal deficit for FY24 was Rs 16.54 lakh crore, below the budgetary target of Rs 17.86 lakh crore, reaching 95.3 percent of the target, according to data from the Comptroller General of Accounts released on Friday.
India's core sector grows 6.2% YoY in April 2024
Jun 01, 2024, at 02:21 am
New Delhi: India's index of eight core sectors grew by 6.2 percent year-on-year in April, following a 6 percent growth in March, according to official data released on Friday.
Bank of India launches 666 days fixed deposit plans
May 31, 2024, at 11:47 pm
Bank of India has launched its “666 Days - Fixed Deposit” which offers returns on deposits as high as 7.95% p.a. for Super Senior Citizens for 666 Days for deposit amount of less than Rs.2.00 Crs.
India's March GDP growth touches 7.8 per cent, pushing annual growth rate to 8.2 percent
May 31, 2024, at 11:40 pm
India's GDP growth touched 7.8 percent in the March quarter, pushing the annual growth rate to 8.2 per cent, as per data released by the Indian government on Friday.
‘Seeds’ of the NPA crisis sown during UPA regime, IBC addressed the issue effectively: Sitharaman
May 31, 2024, at 10:55 pm
New Delhi: The ‘seeds’ of the NPA crisis were sown during the Congress-led UPA era through ‘phone banking’, when loans were given to undeserving businesses under pressure from UPA leaders and party functionaries. Banks were forced to neglect proper due diligence and risk assessment before sanctioning these loans, Finance Minister Nirmala Sitharaman said on X.
May 31, 2024, at 10:06 pm
New Delhi: The Enforcement Directorate (ED) has seized Rs 64,920 crore related to nearly 1,105 bank fraud cases to date, Finance Minister Nirmala Sitharaman reiterated on May 31 in a series of posts on the social media platform X.
RBI to permit opening of rupee account outside India: Report
May 31, 2024, at 08:16 pm
Mumbai/IBNS: The Reserve Bank of India (RBI) on Thursday announced to permit the opening of rupee accounts outside India as part of its strategic action plan to internationalise the domestic currency, reports said.
RBI moves 100 tonnes of gold from UK to its vaults, first time since 1991: Report
May 31, 2024, at 07:07 pm
Mumbai/IBNS: The Reserve Bank of India (RBI) has moved over 100 tonnes of gold from the UK to its vaults in India, reports said.
Lok Sabha polls: How share market may react under 3 possible elections outcome
May 31, 2024, at 06:25 pm
Mumbai/IBNS: The six-week long Lok Sabha elections have reached its final stage with the Election Commission of India (ECI) going to hold the last phase of polls on Saturday (June 1), and the financial markets are eagerly waiting for the national polls' verdic, which is scheduled to be counted on June 4.
RBI's higher dividend payments might continue in FY25: SBI report
May 31, 2024, at 05:50 am
Mumbai: The higher dividends payments by the Reserve Bank of India (RBI) could continue in FY25 also, according to State Bank of India research report
NSE launches India's first EV Index
May 31, 2024, at 05:29 am
Mumbai: NSE Indices Ltd, a subsidiary of the National Stock Exchange, on Thursday launched the EV and New-Age Automotive Index, designed to track the performance of companies within the EV ecosystem.
IDFC First Bank's board approves issuance of preferential shares worth Rs 3,200 cr
May 31, 2024, at 05:07 am
Mumbai: IDFC First Bank on Thursday revealed that its board has approved the issuance of shares valued at Rs 3,200 crore on a preferential basis, priced at Rs 80.63 per equity share.
Saudi Arabia to launch Aramco share sale this Sunday to raise $10 bn: Report
May 31, 2024, at 05:03 am
Riyadh: Saudi Arabia is set to officially launch a secondary offering of shares in the oil giant Saudi Aramco, to raise over $10 billion, as early as Sunday, according to sources familiar with the matter, reported Bloomberg.