JP Morgan's decision last week to include Indian government bonds in its Government Bond Index-Emerging Markets (GBI-EM) index and the index suite from June 2024 may be a sort of blessing for India, as the move is estimated to result in an inflow of $25 billion of foreign portfolio investments into the country. The development comes at a time when the spread between the benchmark 10-year government of India bond and the 10-year US government bond has declined to its lowest level in more than 17 years. Low yield spreads make Indian bonds less attractive to foreign portfolio investors (FPIs).
Manik Saha was named as the next chief minister of the northeastern state of Tripura at a meeting of the Bharatiya Janata Party legislative party held in Agartala on Monday.
On Tuesday, Union Home Minister Amit Shah exuded confidence that the BJP would win the 2024 Lok Sabha elections by an even bigger majority.
Infosys was the only large-cap IT player to report sequential constant currency (cc) revenue growth for the June quarter (1 per cent ), which was ahead of analyst expectations, but the company's sharp downward revision in its growth guidance took most brokerages by surprise. In line with the cut in its FY24 revenue guidance (cc) to 1-3.5 per cent, brokerages have unanimously reduced FY24 EPS estimates for the company in the range of 2-4 per cent, though the Street is likely fearing even further downside, they say. Global brokerages Macquarie and Nomura downgraded Infosys to underperform and reduce ratings, respectively, with the latter cutting the target price to Rs 1210 from Rs 1260.
Microsoft's Indian-origin CEO Satya Nadella, in communication with employees, said the company will align its cost structure with revenue and customer demand.
Qatar's sovereign wealth fund is in early discussions to buy a minority stake in billionaire Mukesh Ambani's rapidly expanding retail unit for about $1 billion (Rs 8,200 crore), sources said. The Qatar Investment Authority is keen on tapping the fast-growing Indian market and has entered into a discussion to buy about 1 per cent stake in Reliance Retail Ventures, sources with knowledge of the matter said. Talks, sources said, are at a preliminary stage and being led by an executive director on the board of parent Reliance Industries Ltd.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
Did he have any first-hand knowledge of what JP stood for, asks Nitish
Since its results for the first quarter of the 2023-24 financial year (Q1FY24) earlier this month, the stock of auto component major Bharat Forge is up nearly 15 per cent and hit its all-time high in the process. The recent gains have extended the returns over the last three months to over 34 per cent. After a strong Q1 performance which beat expectations, brokerages had revised their earnings estimates upwards to factor in the improved outlook.
The Bharatiya Janata Party on Thursday attributed the party's "historic" victory in Gujarat assembly polls to Prime Minister Narendra Modi's credibility and people's trust in his leadership.
Amid rising concerns over subsidence-hit Joshimath, authorities are worried about where to keep the riches of Badrinath safeguarded at Narsingh temple.
The Bharatiya Janata Party-led National Democratic Alliance is set to host a meeting of its constituents on Tuesday in what is being seen as a show of strength by the ruling alliance amid a get-together of opposition parties in Bengaluru to forge unity, as the two sides step up their campaign for the Lok Sabha elections in 2024.
The question is: Will the company have a strong balance sheet to support this massive investment plan?
Uday Kotak has resigned as the managing director and chief executive officer of Kotak Mahindra Bank, the bank said in a stock exchange filing on Saturday.
Badal's mortal remains were taken to the family's farmland, around a kilometer from his residence, on a flower-decked tractor-trolley with his son Sukhbir Singh Badal and other family members standing with folded hands as the vehicle moved past the mourners on the route.
BJP MLA Vishal Nehria had claimed that Dravid will be participating in the Bharatiya Janata Party Yuva Morcha's National Working Committee session in Dharamshala.
The ruling Trinamool Congress in West Bengal demanded Railway Minister Ashwini Vaishnaw's resignation over the horrific triple train crash in neighbouring Odisha.
Even as Gujarat polls are underway, Prime Minister Narendra Modi on Monday inaugurated a two-day meeting of Bharatiya Janata Party leaders in New Delhi to review the party's preparations and chalk out strategy for the next round of elections in states and the all-important Lok Sabha contest in 2024.
This is the first time that Nagaland is witnessing the victory of so many political parties in the state assembly elections. LJP (Ram Vilas) and RPI (Athawale) are newbies in the state politics.
The 91-year-old expressed his joy, saying he never thought that he would sit in a new Parliament building in his lifetime.
Wielding a broom, the prime minister took part in the drive along with fitness influencer Ankit Baiyanpuriya.
The meeting, which lasted for over four hours, was attended by chief ministers and deputy chief ministers of 18 states.
The Joshimath Bachao Sangharsh Samiti had given the call for the rally to press for demands of permanent rehabilitation and compensation to affected families.
The BJP leader said his party was committed to fighting against corruption and it would reflect in its proposed statewide yatra titled En Mann En Makkal (my soil, my people), ahead of the 2024 Lok Sabha polls.
Union Home Minister Amit Shah on Wednesday held discussions with Tipra Motha supremo Pradyot Kishore Debbarma, in the presence of Bharatiya Janata Party president J P Nadda, over various issues faced by the indigenous people of Tripura, a senior leader of the saffron party said.
'Saha had taken charge in a difficult time and led the party to a crucial victory in the election. He deserves to be the next Chief Minister'
Bharatiya Janata Party's southern ally Al India Anna Dravida Munnetra Kazhagam on Wednesday reiterated its stand against the implementation of the Uniform Civil Code.
Cracking the whip, the ruling Bharatiya Janata Party (BJP) in Gujarat on Tuesday suspended 12 party leaders, including 6-term MLA Madhu Shrivastav and two former legislators, for filing nominations as independent candidates for the upcoming assembly elections after they were denied tickets.
Will a caste census make tens of millions desert Mr Modi?, asks Shekhar Gupta.
In both of these Hindi heartland states, the straight contest between the ruling Bharatiya Janata Party and the opposition Congress.
Uttar Pradesh chief minister-designate Yogi Adityanath on Wednesday met Bharatiya Janata Party president JP Nadda to discuss the formation of government in the state.
BJP president JP Nadda held a meeting with the ministers on Wednesday to deliberated on the exercise to be held between May 30 and June 15, and to finalise the tour plans.
A fierce competition among parties to offer freebies and guarantees, a scramble for tribal, OBC, women votes and a touch of Hindutva -- all have combined to make the Madhya Pradesh assembly polls a high-stakes battle with main rivals BJP and the Congress pulling out all the stops to gain power.
Indian equity markets had a good run in the first half of calendar year 2023 (CY23), with the S&P BSE Sensex and the National Stock Exchange Nifty50 hitting fresh 52-week highs. While the Sensex scaled up to a peak 64,718, the Nifty50 hit Mt 19,189. As the markets now prepare to enter the second half (H2) of CY23, all eyes are on global central banks, especially the US Federal Reserve, as to when they will pause and pivot as regards their interest-rate cycle.
Uttarakhand minister Satpal Maharaj said an inquiry will be conducted to find out how multi-storey buildings were allowed to be constructed in Joshimath which has been sinking for at least 20 years.
A BJP leader in Bihar on Thursday died while taking part in a 'Vidhan Sabha march' against the state's Nitish Kumar government, evoking allegations from senior party leaders that he was "killed in a brutal lathi charge".
The BJP state unit is banking on the party's central leadership to shore up its prospects in the May 10 assembly polls as it fights anti-incumbency.
The TMC has won in 34,560 gram panchayat seats, besides leading in 705 seats, according to the SEC as of 11.30 am on Wednesday.
What would Parliament be without these nine ladies?
"Hum saath hain (we are together) is the message we want to give," Uddhav said.
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