Equity investors suffered a massive loss of Rs 31 lakh crore on Tuesday as markets went into a tailspin with the BSE Sensex tumbling nearly 6 per cent as vote counting trends showed the BJP may not have a clear majority in the Lok Sabha polls. Erasing the record-rally of the previous trade, the 30-share BSE Sensex cracked 4,389.73 points or 5.74 per cent to settle at 72,079.05. During the day, the benchmark tanked 6,234.35 points or 8.15 per cent to hit a nearly five-month low of 70,234.43.
Value mutual funds have witnessed robust investor interest, garnering Rs 22,757 crore in inflows in 2024, nearly double the amount seen in 2023, fueled by impressive returns generated by the segment. This surge reflects a shift in investor focus towards fundamentally strong yet undervalued stocks.
The complete list of players sold in the IPL 2025 Auction in Jeddah.
The budgetary allocation for the sector is Rs 60,908.22 crore, with Rs 6,400 crore earmarked for the centre's flagship health insurance scheme Ayushman Bharat- Pradhan Mantri Jan Arogya Yojna (AB-PMJAY).
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Fundraising by Indian companies through equity and debt reached an all-time high in the financial year 2024-25 (FY25), according to data collated by primedatabase.com. Fundraising through debt stood at Rs 11.1 trillion in FY25, including contributions from InvITs (infrastructure investment trusts) and REITs (real estate investment trusts).
AI isn't a magic wand. It works best when combined with good systems, informed investors, and skilled advisors, says Amit Suri.
Dalal Street investors became richer by Rs 9.68 lakh crore in five days of market rally, where the Sensex breached the historic 73,000-mark for the first time ever to reach a new record peak, taking the market capitalisation of BSE-listed companies to an all-time high of Rs 376 lakh crore. The 30-share BSE Sensex jumped 759.49 points or 1.05 per cent to settle at a new closing high of 73,327.94 on Monday. During the day, it zoomed 833.71 points or 1.14 per cent to reach its all-time peak of 73,402.16.
Punjab Chief Minister Bhagwant Mann has dismissed speculation about dissent within the Aam Aadmi Party's state unit, asserting that Congress leaders have a history of switching parties while AAP leaders remain dedicated. Mann's remarks came after Punjab Congress leader Partap Singh Bajwa claimed that over 30 AAP MLAs were in touch with his party. Mann, however, dismissed Bajwa's claims, stating that Congress has a culture of switching sides. The meeting follows AAP's defeat in the Delhi Assembly elections, sparking speculation about instability in its Punjab unit. Mann reiterated the unity within AAP, highlighting his government's achievements, including closing 17 toll plazas, stopping multiple pensions for MLAs, and implementing the Delhi model in Punjab. On the promise of financial assistance of Rs 1,000 to women, he said it will be provided in the coming days. Meanwhile, the BJP has also intensified its attack on the AAP, with BJP leader Manjinder Singh Sirsa taking a dig at Kejriwal for holding a meeting with Punjab MLAs despite AAP's defeat in Delhi.
The Delhi high court on Monday directed Trinamool Congress leader Saket Gokhale on Monday to apologise and pay Rs 50 lakh damages to former diplomat Lakshmi Murdeshwar Puri, wife of Union minister Hardeep Singh Puri, for his defamatory tweets against her over the purchase of a property in Switzerland.
Bajaj Finance, IndusInd Bank, State Bank of India, Maruti, Tata Motors, ITC, Tata Steel and Reliance Industries were also among the gainers. Nestle, NTPC, Kotak Mahindra Bank, Power Grid and Titan were among the laggards.
Food delivery aggregator Swiggy saw its loss widen for the fourth quarter (January-March) of financial year 2024-25 (Q4FY25). The firm reported a consolidated loss of Rs 1,081.1 crore for the quarter, compared to a loss of Rs 554.7 crore in the corresponding quarter of FY24.
Investors' wealth soared by Rs 10.58 lakh crore in three days of the market rally, where the BSE benchmark jumped over 2 per cent, and hit an all-time high on Monday. Extending its winning momentum to the third day running, the 30-share BSE Sensex jumped 363.20 points or 0.49 per cent to settle at 74,014.55. During the day, it zoomed 603.27 points or 0.81 per cent to hit its record high of 74,254.62.
Delhi's third woman Chief Minister Atishi, who replaced Arvind Kejriwal after his resignation in September last year, filed her nomination on Tuesday for the upcoming Assembly polls, declaring a net worth of Rs 76.93 lakh, with no car or house in her name. According to Atishi's affidavit submitted to the Election Commission (EC), her movable assets include Rs 30,000 cash in hand, gold jewellery worth Rs 1 lakh and approximately Rs 75 lakh held in bank accounts as fixed deposits and savings. The affidavit also revealed that Atishi does not own any immovable property.
This new limited edition Mercedes Benz C Class AMG luxury sedan will be on sale with immediate effect.
Wipro on Wednesday reported a 25.9 per cent year-on-year rise in consolidated net profit for the March quarter to Rs 3,569.6 crore, but warned of a weak quarter ahead with up to 3.5 per cent expected drop in IT services revenue for Q1FY26, amid global uncertainties. CEO and Managing Director Srini Pallia said clients remain cautious in the face of macroeconomic uncertainty.
Equity markets will take cues from the US tariff related developments, global trends and trading activity of foreign investors this week, analysts said.
Several FIITJEE centres in Delhi-NCR have abruptly shut down, leaving students and parents who paid lakhs of rupees in fees in a difficult situation. The closures are attributed to non-payment of salaries for months, leading to teachers resigning and joining other coaching institutes. FIRs have been registered against two FIITJEE centres in Noida and Ghaziabad, highlighting allegations of criminal conspiracy and breach of trust. Parents are concerned about their children's academic future and are seeking answers and solutions from FIITJEE.
The interim budget 2024-25 on Thursday allocated Rs 202868.70 crore to the Ministry of Home Affairs (MHA) with the highest share of funds going to the paramilitary forces like Central Reserve Police Force (CRPF), Border Security Force (BSF) and Central Industrial Secular Force (CISF), showing priority on internal security and border guarding.
Chinese electric carmaker BYD is focusing on launching vehicles in the Rs 25-45 lakh price range in India even as it continues to evaluate customer preferences and demand in more affordable segments, its Head of Electric Passenger Vehicles in India Rajeev Chauhan told Business Standard.
Revenue from Goods and Services Tax (GST) stood at over Rs 1.04 lakh crore in November as against Rs 1.05 lakh crore collected in the previous month, the Finance Ministry said in a statement. This is the second straight month in the current fiscal when GST revenue has topped Rs 1 lakh crore. The collection in November 2020 is 1.4 per cent higher than in November 2019 when the GST mop-up was Rs 103,491 crore.
Parents of students were incensed over the abrupt closure of FIITJEE centres in Noida and Ghaziabad, demanding government intervention and refunds. FIITJEE founder D K Goyal and 11 others were booked after several of its centres in Delhi-NCR shut down abruptly, the Noida Police said. Parents reported paying lakhs of rupees in fees and expressed concerns about the future of their children's education. The police launched a probe in Delhi after allegations of fraudulent practices and mismanagement at the FIITJEE's East Delhi centre.
The new SUV is rolled out from the company's Pune facility.
Falling for the fifth day in a row on Monday, equity benchmark BSE Sensex tumbled over 1 per cent to drop below the crucial 75,000 level, tracking a US market trend and unabated foreign fund outflows amid concerns over US tariffs. The 30-share BSE benchmark tanked 856.65 points or 1.14 per cent to settle at 74,454.41. During the day, it plummeted 923.62 points or 1.22 per cent to 74,387.44.
The defence budget was increased to Rs 5.94 lakh crore for 2023-24, up from last year's allocation of Rs 5.25 lakh crore.
Under capital expenditure, Rs 48,614 crore has been set aside for aircraft and aero engines while Rs 24,390 crore has been allocated for the naval fleet.
GST collections in March touched a record high of over Rs 1.23 lakh crore, a 27 per cent growth over the year-ago period, the Finance Ministry said on Thursday. "GST revenues crossed above Rs 1 lakh crore mark at a stretch for the last six months and a steep increasing trend over this period are clear indicators of rapid economic recovery post pandemic," the ministry said. Closer monitoring against fake-billing, deep data analytics using data from multiple sources including GST, income tax and customs IT systems and effective tax administration have also contributed to the steady increase in tax revenue over last few months, it added.
The AAP chief stressed the need for an increase in healthcare spending, suggesting a rise to 10 percent of the GDP, along with the removal of taxes on health insurance premiums.
Vimala Chandra Sidam alias Tarakka, a top Naxal leader with a Rs 25 lakh reward on her head, surrendered before Maharashtra Chief Minister Devendra Fadnavis in Gadchiroli along with ten other senior Maoists. Tarakka, who joined the Naxal movement in 1986, rose through the ranks over 38 years to become a Dandkaranya Special Zonal Committee member. She is the wife of Central Committee Member Sonu alias Bhupati. The surrendered Naxals, eight women and three men, were collectively carrying a bounty of Rs 1.03 crore. Fadnavis also felicitated C 60 personnel for the July 17, 2024 encounter wherein 12 hardcore Maoists were killed in a forested area bordering Chhattisgarh.
Senior advocate Prashant Bhushan, who appeared for the petitioners in the court, said at least 30 shell companies purchased electoral bonds worth over Rs 143 crore.
GST collections for January touched an all-time high of about Rs 1.20 lakh crore, the finance ministry said on Sunday. The ministry said in line with the trend of recovery in the GST revenues over past five months, the revenues for the month of January 2021 are 8 per cent higher than that in the same month last year.
The Delhi high court has granted bail to Hari Om Rai, the former MD of Lava International mobile company, in a money laundering case involving smartphone-maker Vivo. Justice Manoj Kumar Ohri granted relief to the ex-Lava official, who was in custody since his arrest by the Enforcement Directorate (ED) in October last year.
The index options also touched a record high of Rs 4.9 lakh crore.
The market capitalisation of BSE-listed firms reached an all-time high of Rs 299.90 lakh crore on Wednesday despite the Sensex falling marginally after a remarkable record-breaking rally in the last few trading sessions. The 30-share BSE Sensex dipped 33.01 points or 0.05 per cent to settle at 65,446.04, after rallying in the past five trading straight sessions. During the day, the benchmark hit a low of 65,256.49 and a high of 65,584.33.
The defence budget was on Thursday increased to Rs 6.21 lakh crore for 2024-25 in a modest hike of 4.72 per cent from last year's allocation of Rs 5.25 lakh crore amid India's continuing border row with China in eastern Ladakh as well as concerns over evolving security situation in the strategic waterways.
India's fiscal deficit soared by 34 per cent to Rs 3.5 lakh crore in the first ten months of the financial year against Rs 2.62 lakh crore a year ago, mainly on account of the stimulus measures taken by the government to prop up the economy hit by the global financial crisis.
The Delhi high court granted bail to alleged middleman Christian Michel James in the Rs 3,600-crore AgustaWestland money laundering case on Tuesday. Justice Swarana Kanta Sharma, while granting the reprieve to James, said it was an "exceptional situation" where the accused was in custody for over 6.2 years but the trial had not yet commenced due to incomplete investigation. James, who was extradited from Dubai in December 2018, can now walk out of prison subject to compliance with the conditions.
The monthly Rs 2500 payment for poor women is expected to cost Rs 11,000 crore while the pension scheme of Rs 2000 for every senior citizen will cost around Rs 4100 crore. The Yamuna clean up will cost over Rs 10,000 crore while a similar amount is required to upgrade Delhi's hospitals. Ultimately, the new BJP government will have no choice but to ask the centre for financial support, notes Rashme Sehgal.
The primary market will remain abuzz with more than half a dozen companies, including Hyundai Motor India, Swiggy, and NTPC Green Energy, lined up initial public offerings over the next two months to raise around Rs 60,000 crore, merchant bankers said. Apart from these three firms, Afcons Infrastructure, Waaree Energies, Niva Bupa Health Insurance, One Mobikwik Systems, and Garuda Construction are among the companies planning to launch initial public offerings (IPOs) during October-November, they added. Together, these firms are looking to raise Rs 60,000 crore through their IPOs.
The Election Commission of India has announced that the Delhi Assembly elections will be held on February 5, 2023, with the counting of votes scheduled for February 8. The last date to file nominations is January 17, and the scrutiny of nominations will be done by January 18. Candidates can withdraw their nominations until January 20.
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