Benchmark BSE Sensex rallied nearly 630 points while Nifty closed above the 16,500 mark on Wednesday after sharp gains in IT and energy shares amid positive global market trends. Buying in index majors Reliance Industries, Infosys and Tata Consultancy Services and FII inflows bolstered the sentiment. Shares of firms related to oil exploration and refineries were in heavy demand, with Reliance Industries rallying 2.47 per cent and ONGC by 4 per cent, as the government slashed windfall tax on petrol, diesel, jet fuel and crude oil.
'India seems to be on a relatively better wicket compared to other emerging markets.'
The court allowed Raut's plea for home food and medicines, but refused to pass an order on his prayer for bedding.
India's second-largest telecom operator Bharti Airtel on Tuesday posted more than twofold year-on-year jump in its consolidated net profit for the March quarter to Rs 2,008 crore, buoyed by a lift in average revenue per user and an exceptional gain. The telco said its Q4 scorecard was backed by strong performance delivery across the portfolio and its CEO Gopal Vittal, in a statement, exuded optimism about opportunities in the coming years and Airtel being "well-poised" as a company. Airtel, which competes in the market with Reliance Jio and Vodafone Idea, as well as state-owned BSNL/MTNL, promised to maintain razor sharp focus on financial flexibility, optimising the capital structure and finance cost.
The court sentenced Saeed to five-and-a-half years and imposed a fine of Rs 15,000 in each case. The sentences of both cases will run concurrently.
With a narrow industrial base and dysfunctional politics, and a counter-productive national security agenda, Pakistan could well remain an 'international migraine', observes T N Ninan.
M&M was the top gainer in the Sensex pack, rising over 2 per cent, followed by Axis Bank, Tech Mahindra, Bajaj Finserv, IndusInd Bank, Titan and Dr Reddy's. NSE Nifty advanced 20.05 points to 16,258.25.
Sena criticised Modi's announcement of a credit line of $1 billion to Mongolia and asked why he can't show the same eagerness to help the distressed farmers of Maharashtra.
Aam Aadmi Party MLA Amanatullah Khan, who was arrested on Friday in connection with an alleged corruption case, was sent to a four-day Anti-Corruption Bureau's (ACB) custody for questioning on Saturday.
Auto Expo 2023 may not trigger a fresh rally in automobile stocks, say analysts, as this year's edition lacks participation from major listed players. It is also owing to the focus on electric vehicles (EVs), a segment where four-wheelers have minuscule market share. "In the passenger vehicles (PV) segment, Maruti Suzuki India and Tata Motors are the only listed players.
None of the players will be available for at least the first two to three games of their respective franchises.
On the lingering Tamil issue, Modi said he was confident that the Sri Lankan government will carry forward the reconciliation process and fulfil the aspirations of the Tamil community.
The asset quality of non-banking financial companies (NBFCs) deteriorated in April-September 2021 (H1FY22) owing to the second wave of the pandemic. Their gross non-performing assets (NPAs) rose to 6.8 per cent in September 2021 from 6 per cent in March 2021. The Reserve Bank of India's (RBI's) annual Trend and Progress report (FY21) said the sector might have to grapple with higher delinquencies as and when policy measures unwound. The pandemic posed significant challenges to NBFCs during the first wave (2020) also.
The Reserve Bank on Wednesday hiked key benchmark policy rate by 25 basis points to 6.5 per cent, citing sticky core inflation. This is the sixth time interest rate has been hiked by the Reserve Bank of India (RBI) since May last year, taking the total quantum of hike to 250 basis points. Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) by a majority decided to raise the policy repo rate by 25 basis points and keep a 'strong vigil' on inflation outlook.
10 high dividend paying stocks across sectors that are expected to maintain or even increase their pay-outs in FY23 thanks to faster earnings growth in the last four quarters.
Notably, Ukrainian forces disabling bridges across the Dnipro river and attacking Russian supply lines made it very difficult for Russia to defend the occupied territory.
The amount of financial assistance to each state and Union Territories is based on their COVID-19 caseload.
Lower crude oil prices and a rally in domestic equities restricted the losses to some extent, forex dealers said. At the interbank foreign exchange market, the domestic currency opened weak at 79.50 per dollar.
Dawood Ibrahim is wanted in India to face the law of the land for carrying out serial blasts in Mumbai in 1993 in which scores of people were killed and injured.
Lyudmila Ocheretnaya, the former First Lady of the Russian Federation, is on the list of sanctions for benefiting from preferential business relationships with state-owned entities since her divorce from Putin in 2014.
In an interview with the Financial Times following an assassination attempt this month, Khan said he no longer 'blamed' the US and wants a 'dignified' relationship if re-elected.
'When Fadnavis takes our help, it was sabka saath.' 'But when we support his rival, the latter is branded as appeasing Muslims.'
Actors Nana Patekar and Makrand Anaspure distributed cheques of financial aid to as many as 113 families of farmers from Latur and Osmanabad districts of Marathwada, who have committed suicides, owing to drought and indebtedness.
The arrest of Shiv Sena MP Sanjay Raut in a money laundering case by the Enforcement Directorate (ED) was "illegal" and a "witch-hunt", a special court in Mumbai said on Wednesday while granting him bail in the Patra Chawl redevelopment matter.
Enduring harrowing days after her right hand was chopped off allegedly by her employer in Saudi Arabia, Kasturi Munirathinam arrived in Chennai on Saturday.
The country's largest lender SBI on Friday reported an 80 per cent surge in standalone net profit at Rs 6.450.75 crore for the fourth quarter ended March 2021, aided by decline in bad loans. State Bank of India (SBI) had registered a profit of Rs 3,580.81 crore during January-March period of 2019-20, the lender said in a regulatory filing. Total income of the bank during the March quarter of the last financial year rose to Rs 81,326.96 crore, from Rs 76,027.51 crore in the same period of 2019-20.
A bill to modify the list of scheduled castes in Tamil Nadu by grouping of seven castes which presently exist as separate castes, was passed by the Lok Sabha on Friday.
Economic activity has regained momentum from late-May after the dent caused by the second wave of COVID-19, and the pandemic's impact on the overall asset quality has been less than expected, Reserve Bank Governor Shaktikanta Das said on Thursday. However, Das flagged rising data breaches and cyber-attacks as among the risks for the recovering economy, along with others like firming global commodity prices. The governor also said the second wave had a "grievous toll" on the country.
The top diplomats of Quad nations on Friday denounced as "inadmissible" any use or threat of use of nuclear weapons in the Ukraine war and strongly opposed any "unilateral actions" that seek to change the status quo in the South and East China Seas, a region that has witnessed increasing Chinese military offensive.
A Tamil Nadu fisherman on Friday sustained bullet injuries when the Navy "fired warning shots" in mid-sea and Chief Minister M K Stalin sought Prime Minister Narendra Modi's intervention to prevent such incidents.
After turning net buyers last month, foreign investors have become aggressive shoppers of Indian equities and have invested Rs 22,452 crore in the first two weeks of August amid softening inflation concerns. This was way higher than a net investment of nearly Rs 5,000 crore by Foreign Portfolio Investors (FPIs) in the entire month of July, data with depositories showed. FPIs had turned net buyers for the first time in July, after nine straight months of massive net outflows, which started in October last year.
Tamil Nadu is the celebrated home of the 'social justice' movement in the country, yet caste differences and violence has only been increasing in numbers and becoming more brutal in recent years, observes N Sathiya Moorthy.
the defence ministry told Parliament on Monday that foreign procurement in defence has risen to Rs 50,061 crore (Rs 500.61 billion) in 2021-2022 from Rs 37,030 crore (Rs 370.30 billion) in 2017-2018.
In the absence of major domestic events, equity markets will be driven by global trends, foreign fund flows and movement in the Brent crude oil, analysts said. The major global events this week are the European Central Bank interest rate decision and China's inflation rate, they added. "Indian equity markets are outperforming most of their global peers and trying to show resilience despite weak global cues.
The Uttar Pradesh Police is mulling over slapping the stringent National Security Act (NSA) against the six people arrested for the rape and murder of two Dalit sisters in the state's Lakhimpur Kheri.
After new-age tech companies reported better-than-expected June quarter (Q1FY23) results, analysts said it will be a long road to recovery for their respective businesses and the stock prices. Moreover, brokerages differ on whether it is the right time to own these stocks. The common thread, however, that runs across most brokerages is Zomato, where they suggest buying the stock with the one-year target price ranging between Rs 60 - 115, translating into an upside of around 9 - 109 per cent from the current levels. The company's gross order value (GOV) of food delivery jumped 10 per cent quarter-on-quarter (QoQ) and 42 per cent year-on-year (YoY) in Q1, aided largely by growth in volume, and mild growth in average order value (AOV) at 1-2 per cent. The company also broke even on an adjusted Ebitda basis during the quarter.
The NSA was invoked against Nawaz, a resident of Talab Chowk area and Mohsin alias Nati, resident of Jakaria Masjid area, for alleged involvement in the April 10 violence, in-charge superintendent of police Rohit Kashwani said.
'Younger investors start their journey with very little capital so they are risking less while they have a lot of time to experiment and learn early on.'
His statement assumes significance in the wake of a row over the Centre's refusal to accept the United Arab Emirates' reported offer of Rs 700 crore to the flood-hit state.
Pakistan Hockey Federation had sought a loan from the PCB to send the team to Bhubaneswar and clear the outstanding dues of players.
