His village didn't have a school so he went to school in a neighbouring village and often studied by kerosene light.
F&O trading is a zero-sum game where one person's loss is another's gain. Only one per cent of traders gained the money lost by 93 per cent, warns Harsh Roongta.
With rising disposable incomes in cities beyond metros, the penetration of credit cards - and consequently, credit card spending - is growing at a much faster pace than in traditional metro cities, primarily driven by e-commerce spending.
Retail investors have been the hardest hit in the recent market downturn, with stocks where they hold over 20% falling 45% from their 52-week highs.
Hectic buying in blue chip counters like Reliance Industries, IT and teck shares boosted market sentiment. State Bank of India, Tata Consultancy Services, Titan, ITC, Infosys, Larsen & Toubro, Reliance Industries and Bajaj Finance were the biggest gainers.
From the 30 Sensex pack, Mahindra & Mahindra, State Bank of India, Power Grid, Tata Steel, IndusInd Bank, Tata Motors, Larsen & Toubro, NTPC, Bajaj Finance and Reliance were among the biggest laggards.
'We want to hide it (by saying) we are too busy in our lives, we have other things to attend to, we have families.' 'But they all had families, including Jyotiba or Mahatma Gandhi, or anybody who challenged the system.'
From the 30 Sensex pack, ICICI Bank climbed 3 per cent after the private sector lender posted a 14.5 per cent growth in standalone profit to Rs 11,746 crore for the second quarter ended September 2024. JSW Steel, Mahindra & Mahindra, Adani Ports, Tata Steel, Sun Pharma, Hindustan Unilever, Tata Motors and State Bank of India were the other big gainers from the pack.
Many enter this arena without a detailed understanding of how their algo works.' 'Diligently review information on the strategy, risk profile, potential losses, and expected gains before investing.'
'My family are the mainstream audience and think I am wasting my time. Until I make a Rs 100 crore film, they won't be convinced.'
The volume of shares traded in the stock market had fallen 28 per cent in April. Turnover, or the value of securities changing hands, fell 12.6 per cent. This trend of falling volumes seems to have stabilised in May.
From the 30-share Sensex pack, Infosys, ICICI Bank, Kotak Mahindra Bank, Mahindra & Mahindra, State Bank of India, HCL Technologies, Axis Bank, NTPC and HDFC Bank were among the laggards. In contrast, Maruti, IndusInd Bank, Adani Ports, ITC and UltraTech Cement defied broader market trends and ended in positive territory.
Traders are 'chowkidar' (watchman) of Indian economy, CAIT secretary general said.
Overseas fundraising by Indian firms is experiencing a robust revival in 2024, following a lacklustre 2023. This resurgence is primarily driven by strong demand for high-yield bonds from international investors amid improving liquidity conditions and reduced hedging costs. Indian companies raised ~32,619 crore through overseas bonds in the first half of 2024, surpassing the total amount raised via such instruments in the entire 2023, which stood at ~31,218 crore, according to PRIME Database. In comparison, ~45,237 crore was raised in 2022 and ~1.05 trillion was secured in 2021.
From the Sensex pack, Tata Consultancy Services, Mahindra & Mahindra, ICICI Bank, Maruti Suzuki India, Power Grid, Axis Bank and Adani Ports & Special Economic Zones were among the laggards. On the other hand, HCL Technologies, Tech Mahindra, JSW Steel, Hindustan Unilever, Infosys and Titan were among the gainers.
Sambhal, Uttar Pradesh, remains on high alert following violence that erupted on November 24 over a court-ordered survey of the Shahi Jama Masjid. Police have deployed heavy security ahead of Friday prayers and a court hearing on the survey, which is expected to be tense. The violence, which left four people dead and several injured, stemmed from claims that a Harihar temple previously stood at the site of the mosque.
Amid the political blame game over Bengal's potato ban, which led to shortages in Jharkhand and Odisha, Uttar Pradesh farmers are the unlikely winners.
The Sittwe deal is more significant than Chabahar in Iran, where India has rights to operate only two terminals and not the port itself.
A group of onion traders gathered at the Pimpalgaon Agricultural Produce Market Committee (APMC), near Nashik, to inspect one of the season's final harvests of red onions as they look to place their bids. They were surrounded by farmers, who brought their produce here from different parts of the district. Farmers have reasons to be optimistic.
American online major Amazon seems to be almost doubling its India investment going by the company's recent announcement during Prime Minister Narendra Modi's state visit to the US. From the time the Seattle-headquartered company started its India journey in 2013, its investment into the country is pegged at $11 billion or roughly $1.1 billion a year. By committing a fresh round of $15 billion by 2030, the Jeff Bezos-founded company's investment would go up to more than $2 billion a year over the next seven years.
Thousands of small brands are ruling the consumer market despite the predatory pricing and deep discounting by foreign e-commerce companies and efforts of certain FMCG companies to sideline the distributor network, said the Confederation of All India Traders (CAIT), which represents about 70 million traders in the country. "If the government gives support policies to non-corporate sector and tighten the e-commerce companies to obey the policy and the law both in letter and spirit, the retail trade of the country is bound to blossom in pursuance of the vision of PM Narendra Modi for Make in India and Atmnirbhar Bharat," said CAIT national president BC Bhartia and secretary general Praveen Khandelwal.
Trading activity of foreign investors and global trends will be the major driving factors for the equity markets in a holiday-shortened week ahead, according to analysts. Leading stock exchanges BSE and NSE have declared a trading holiday on November 20 for assembly elections in Maharashtra. Elections to the 288-member state legislative assembly will be held on November 20, and votes will be counted on November 23.
Gold prices slumped for the second straight session by Rs 1,150 to Rs 78,350 per 10 grams in the national capital on Monday on frantic selling by stockists and retailers, the All India Sarafa Association said. The precious metal of 99.9 per cent purity closed at Rs 79,500 per 10 grams on Friday.
The BJP's hyper-local campaign targeting the AAP's loyal base among the poor, along with Prime Minister Narendra Modi's depiction of Delhi's ruling party as "AAP-da" (disaster), proved decisive in the Delhi assembly elections. This victory marks the end of a 26-year drought for the BJP in the national capital. The BJP's campaign highlighted perceived failures in governance and corruption allegations against the AAP, while emphasizing its own welfare schemes. The party's focus on local issues resonated with voters, particularly the middle class and poor who were disenchanted with the AAP's performance. This win is a major setback for the AAP and the INDIA bloc, which has been on a losing streak after its strong performance in the Lok Sabha elections.
From the 30 Sensex firms, Mahindra & Mahindra, Bajaj Finance, Asian Paints, Nestle, Bharti Airtel, UltraTech Cement, Hindustan Unilever, ITC, and HDFC Bank were the major laggards. In contrast, Infosys, Tech Mahindra, Tata Motors, Axis Bank, Tata Consultancy Services and State Bank of India were among the gainers.
Russian oil supplies to India will continue to flow unhindered and suppliers will come up with ways to sidestep secondary sanctions, a Russian official told Business Standard.
Billionaire Gautam Adani's group on Monday announced its exit from FMCG joint venture Adani Wilmar by selling its entire stake to the Singaporean partner and in the open market for an estimated over $2 billion in a first major deal since the US bribery indictment. In a statement, Adani Enterprises Ltd -- which held 43.94 per cent stake in Fortune brand cooking oil, wheat flour and other food product maker Adani Wilmar Ltd -- said it will sell 31.06 per cent stake to Wilmar International. About 13 per cent will be sold in the open market to meet minimum public shareholding requirements.
It said Naisar Kothari, a resident of Bhavnagar in Gujarat, was arrested under sections of the Prevention of Money Laundering Act (PMLA) and he has been sent to the ED custody till December 22 by a court.
'There has been a spurt of algo platforms, and algo developers, which are neither empaneled nor regulated, but are still active in the ecosystem.'
'India's fundamentals are a lot better (than those of other emerging market economies).' 'India will suffer (witness a fall in its stock market) what I call the second order effect.' 'And the second order will happen when these funds (belonging to macro and hedge fund investors and which have leveraged Japanese yen-carry trades), because they lose money elsewhere as lot of their positions were financed by borrowing Japanese yen, will have to book profits in investment destinations where they are making money, including in markets like India.' 'They (these investors) will have to effectively sell in countries like India and which is the consequence (the crash in equity markets) that Indian markets might see.'
The Reserve Bank of India's (RBI's) record surplus transfer to the government has raised hopes among bond traders that the government might reduce its gross borrowing for the current financial year (2024-25/FY25) by up to Rs 1 trillion. The RBI approved a dividend of Rs 2.11 trillion for the central government for 2023-24, marking an increase of roughly 141 per cent from 2022-23 (FY23). In addition, the contingency risk buffer has been raised to 6.5 per cent from the previous 6 per cent.
The Confederation of All India Traders (CAIT) also expects that consumers may spend about Rs 2 lakh crore during the Diwali festival sale period. "Like previous year, this year too CAIT has given a call of 'boycott Chinese goods' and it is certain that China is going to suffer a business loss of about Rs 50,000 crore in terms of stoppage of import of chinese goods by Indian traders," CAIT stated.
Gold prices tumbled by Rs 3,350 to Rs 72,300 per 10 grams in the local market in New Delhi on Tuesday amid subdued demand by jewellers after the government announced the customs duty cut on the yellow metal and silver to 6 per cent.
A Pakistani court has directed three men to drop the Indian high commission from the list of respondents in their petition seeking protection from authorities after reports in the Indian media described them as operatives of the banned Lashkar e Tayiba. The Lahore high court directed the three men -- traders Mehtab Butt and Atif Butt and security guard Babar Shabbir -- to file an amended petition after deleting the name of the Indian mission from the list of respondents
The rupee tumbled 3 per cent against the US dollar in 2024 as concerns over slower economic growth and a stronger greenback in global markets weighed, but it was among the least volatile currencies in the world and the headwinds may be less intense in the coming year.
The Enforcement Directorate on Wednesday said it has attached fresh assets worth Rs 29.75 crore of fugitive diamond trader Nirav Modi under the anti-money laundering law. A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach these assets that are in the form of bank deposits, land, and buildings, it said in a statement.
Social activists, small traders and farmers organised protests in various cities across India, seeking restriction on foreign players' participation in the retail sector.
Chana is majorly imported from Australia and Tanzania and it attracts an import duty of 60 per cent. A section of the traders is demanding a reduction in import duty to around 35-40 per cent to tide over any shortage of the commodity as the new crop will start hitting the market only around mid-February.
From the 30 Sensex firms, Tata Steel, JSW Steel, Power Grid, HDFC Bank, Tata Motors and Larsen & Toubro were the biggest gainers. Hindustan Unilever, Infosys, Bajaj Finance, Axis Bank, Kotak Mahindra Bank and UltraTech Cement were among the laggards.
The government on Friday scrapped a minimum price threshold that it had set previously for exports of onion as it looked to pass on the benefit of international glut to Indian farmers. The government had previously fixed a $550 per tonne as the minimum export price (MEP), which essentially meant farmers could not sell their produce overseas at lower than this rate.
