Gautam Adani had in the late 1970s applied to join a Mumbai college for education, but the college rejected his application. He did not pursue education but turned to business and went on to build a $220 billion empire. About four-and-a-half decades later, he gets called to the same college to deliver a lecture to students on Teachers Day. Adani had moved to Mumbai at the age of 16 and started working as a diamond sorter.
As of March 2023, the share of accounts belonging to women stood at 36.4 per cent (917.7 million) of the total 2.52 billion individual accounts.
The liquidity will move into deficit after advance tax payments and GST outflows. It will rebound in October because of government spending.
The Securities and Exchange Board of India's (Sebi's) six-step plan to curb retail participation in speculative index derivatives may lead to a substantial drop in volumes - potentially by 30-40 per cent. These measures aim to reduce excessive speculation in the futures and options (F&O) segment, where daily turnover often exceeds Rs 500 trillion and retail investors end up on the losing side of the trade more often. Sebi has decided to increase the contract size from Rs 5 lakh to Rs 15 lakh, raising margin requirements and mandating the upfront collection of option premiums from buyers.
National Stock Exchange (NSE) chief Ashishkumar Chauhan on Friday cautioned retail investors against trading in derivatives and suggested them to invest in equities through mutual fund route. He emphasized that trading in Futures & Options (F&O) derivatives should be limited to informed investors who can manage risk and comprehend the market. Recently, Finance Minister Nirmala Sitharaman and chief economic advisor V Anantha Nageswaran flagged the growing risk of F&O trading for retail investors.
Bond market participants expect an open market operation (OMO) auction in the first week of November as the banking system liquidity is expected to ease on the back of government spending and maturity of bonds. According to market participants, the Reserve Bank of India (RBI) will issue a notification on OMO sales by October 31. They speculate that the central bank might conduct the auctions in multiple tranches of Rs 10,000 crore.
'Despite the current uncertainties, the long-term outlook remains constructive due to strong fundamentals, government initiatives, and a stable banking 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.
Automobile, apparel and electronics are among sectors that see a sales boost during the festival season, a time when investors expect gains in related stocks. This year could be different: Analysts have factored in all positives and do not expect such stocks to deliver lucrative returns. "Indian households spend across sectors like automobiles, consumer durables, and consumer staples during the festival season.
'It's dull because this time the election is spread over such a long period.'
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 advisory gave relevant phone numbers in case of emergency and also provided URLs for Israeli Home Front Command and Preparedness brochures.
Social activists, small traders and farmers organised protests in various cities across India, seeking restriction on foreign players' participation in the retail sector.
The specter of how the Munambam issue was exploited during the November by-elections is proof of the price Kerala is paying for its emergent politics. Controversies become the stuff of slow-burn and brinkmanship. The former promises mileage; the latter searches for an advantage, notes Shyam G Menon.
As the results season kicks in, the quarterly earnings numbers of several blue-chip firms -- such as Infosys and Reliance Industries -- along with global trends and trading activity of foreign investors, will determine equity market movement in the holiday-shortened week ahead, according to analysts. The domestic WPI inflation data for June -- scheduled to be announced on Monday -- will also influence trading sentiments, traders said. Markets will remain closed on Wednesday for Muharram.
Four times more liquor has been seized in the 2024 election than during the 2019 polls.
One of the two stranded Indian traders, who were under a travel ban pending a trial over allegations of non-payment of dues to Chinese businessmen, has been granted permission for a month to visit his family in India following the death of his father.
From florists in Ghazipur's phool mandi to sweet shop owners in Old Delhi's Chandni Chowk, the preparations, if not the sales, have already begun.
Stock exchanges are expanding the buffet of index derivatives even as the number of stocks permitted to trade in this space, generating an average daily turnover of Rs 450 trillion, is shrinking. This week, the National Stock Exchange (NSE) started issuing futures and options (F&O) contracts based on the Nifty Next 50 Index, bringing the total count of index derivatives to five.
Analysts are of the view that long-term investors could continue to hold the stock, irrespective of the MSCI development.
The market capitalisation of BSE-listed companies soared to an all-time high of Rs 406.52 lakh crore on Monday thanks to a rally in equities where the BSE Sensex climbed over 1 per cent. The 30-share BSE Sensex rallied 941.12 points or 1.28 per cent to finish at 74,671.28. During the day, it zoomed 990.99 points or 1.34 per cent to 74,721.15.
Pin collecting and trading goes as far back as 1896 when the first modern Olympics were held.
High vegetable prices are expected to keep food inflation firm in the months to come.
Coal India Limited's (CIL) October-December quarter of financial year 2023-24 (Q3FY24) results have beaten the Street's estimates. Revenue rose 3 per cent year-on-year (Y-o-Y) to Rs 36,200 crore, led by higher volumes and better realisation from Fuel-Supply Agreement (FSA) coal. The blended average selling price (ASP) was down 6 per cent Y-o-Y to Rs 1,727 per tonne, and the FSA ASP was up 3 per cent Y-o-Y to Rs 1,532 per tonne.
In the notice issued on Sunday, the ECI has notified the main organiser of the 'Auto Rajakanmar Iftar' event, Abubakar Siddique, for violating the election model code of conduct.
Equity benchmark indices Sensex and Nifty hit their fresh record levels on Thursday after lower inflation numbers raised hopes of an interest rate cut by the RBI. Besides, heavy buying in capital goods, consumer durable and industrial stocks also helped the indices, traders said. Retail inflation continued its downward slide to reach a one-year low of 4.75 per cent in May due to a marginal decline of prices in the food basket and remained within the Reserve Bank's comfort zone of below 6 per cent, according to government data released on Wednesday.
Daily life was partially affected in West Bengal on Wednesday due to a 12-hour shutdown called by the Bharatiya Janata Party, protesting the police action against demonstrators during a march to the state secretariat.
'The stockbroker should have a good balance sheet to support its scale of operations. It should also have proper risk management in terms of margins so that it doesn't go bankrupt during extreme market movements.' 'The broker must have a track record of navigating several market cycles in an ethical and transparent manner.'
'Liquid ETFs help in cash management by enabling a smooth transition between equity and cash within the same settlement cycle, as they trade in the same segment as equity.'
Congress spokesperson Pawan Khera called the order "state-sponsored bigotry".
Fresh plans of privatisation or divestment in central public sector enterprises and public sector banks might take a back seat this financial year because these may require a large consensus among coalition partners.
'It is a fiercely fought battle, like our fiery chillies in Guntur.'
Milk supplies could improve with the monsoon, provided the rains are not excessive.
Few in Varanasi expect the result to be different from 2014 and 2019. The only point of interest is whether Narendra Modi will increase his winning margin against his rivals.
This is the third instance when outsourcing of key oversight jobs by global banks to India has come under the regulatory scanner abroad for ineffective controls against suspicious financial transactions.
'The wave of terrorism is over in Kashmir. Local people do not support it.'
US short-seller Hindenburg Research had shared an advance copy of its damning report against Adani group with New York-based hedge fund manager Mark Kingdon about two months before publishing it and profited from a deal to share spoils from share price movement, according to market regulator Sebi. The Securities and Exchange Board of India (Sebi), in its 46-page show cause notice to Hindenburg, detailed how the US short seller, the New York hedge fund and a broker tied to Kotak Mahindra Bank benefited from the over USD 150 billion routs in the market value of Adani group's 10 listed firms post-publication of the report.
Moreover, the process to release those arrested between July 1 to August has started, and many have already been released, it added.
The civic body plans to build a national memorial dedicated to the social reformer couple at the site, officials said. However, local people and traders had refused to vacate the place and moved court.
From the Sensex basket, Larsen & Toubro, Maruti, Reliance Industries, Nestle, Bharti Airtel, UltraTech Cement, Kotak Mahindra Bank and JSW Steel were among the major laggards. Bajaj Finance climbed nearly 1 per cent higher.
