Foreign portfolio investors invest ₹26,565 crore in Indian equities in June

This came following a net outflow of ₹25,586 crore in May on poll jitters and more than ₹8,700 crore in April on concerns over a tweak in India's tax treaty with Mauritius and a sustained rise in U.S. bond yields.

from Business News Today, Latest Finance News | The Hindu

Market Capitalisation of nine of top-10 most valued firms jumps ₹2.89 lakh crore; Reliance biggest winner

Reliance Industries remained the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC.

from Business News Today, Latest Finance News | The Hindu

Morning Digest: India lifts second T20 WC title after 17 years; Dharmendra Pradhan says fresh date for NEET-PG to be announced within two days, and more

Here is a select list of stories to start the day 

from Business News Today, Latest Finance News | The Hindu

Vermeiren India chalks out ₹100 cr. expansion plans

from Business News Today, Latest Finance News | The Hindu

Mobile number porting after sim replacement to face 7-day waiting period from July 1

The step has been taken to curb fraud taking place by using mobile phone numbers

from Business News Today, Latest Finance News | The Hindu

U.S., India extend digital tax truce to Sunday as deadline approaches

The United States and India have extended a standstill agreement on U.S. retaliation over India's digital-services tax until Sunday

from Business News Today, Latest Finance News | The Hindu

Coal, electricity buoy core output in May

Cement output contracted for the second consecutive month to hit the lowest level since November 2023

from Business News Today, Latest Finance News | The Hindu

Sensex, Nifty hit new all-time high levels in early trade

Adani Ports, UltraTech Cement, IndusInd Bank and Maruti were among the laggards

from Business News Today, Latest Finance News | The Hindu

Gold loans can help boost the growth of India’s small business owners

from Business News Today, Latest Finance News | The Hindu

Centre’s agreement with Bangalore International Airport may play spoiler to Stalin’s plan to open airport at Hosur

As per the agreement signed by Bangalore International Airport Limited and the Ministry of Civil Aviation in 2004, no airport can operate within an aerial distance of 150 kilometres of KIA before the 25th anniversary of KIA, which falls in May 2033

from Business News Today, Latest Finance News | The Hindu

Rupee rises 8 paise to 83.49 against U.S. dollar in early trade

On June 26, the rupee depreciated 14 paise against the U.S. dollar and settled at 83.57

from Business News Today, Latest Finance News | The Hindu

Sensex declines after hitting new all-time high in early trade; Nifty dips nearly 50 points

The 30-share BSE Sensex declined 149.41 points to 78,524.84 after hitting a new all-time high of 78,771.64 in early trade. The Nifty dipped 47.45 points to 23,821.35.

from Business News Today, Latest Finance News | The Hindu

Nikesh Arora of Palo Alto Networks and not Google’s Sundar Pichai is among the top 10 highest paid U.S. CEOs: Report

Palo Alto Networks Inc.’s CEO Nikesh Arora was one of the highest paid CEOs in terms of disclosed executive compensation in the fiscal year of 2023, per a report by C-Suite Comp

from Business News Today, Latest Finance News | The Hindu

Palo Alto’s Nikesh Arora is among the highest paid CEOs: Report

Palo Alto Networks Inc.’s CEO Nikesh Arora was one of the highest paid CEOs in terms of disclosed executive compensation in the fiscal year of 2023, per a report by C-Suite Comp

from Business News Today, Latest Finance News | The Hindu

Sensex hits new all-time high in early trade

The 30-share BSE Sensex climbed 134.64 points to hit a new all-time high of 78,188.16 in early trade.

from Business News Today, Latest Finance News | The Hindu

Government thinks of the RBI as a part of itself: Subbarao

The most common view today is that the IAS is not able to perform because of political pressure but the question is why should IAS officers succumb to the carrots dangled by politicians, asks former RBI Governor Duvvuri Subbarao

from Business News Today, Latest Finance News | The Hindu

User fee at Adani’s Thiruvananthapuram airport up 50% from July 1

Airport Economic Regulatory Authority said the UDF for embarking domestic passengers from July 1, 2024 to March 31, 2025 will be ₹770 and ₹330 for disembarking passengers

from Business News Today, Latest Finance News | The Hindu

Morning Digest: WikiLeaks founder Julian Assange to plead guilty in deal with U.S.; four booked for NEET paper leak in Maharashtra, and more

Here is a select list of stories to start the day

from Business News Today, Latest Finance News | The Hindu

‘Monsoon pause delays sowing, spikes food prices’

from Business News Today, Latest Finance News | The Hindu

India’s current account logs $5.7-bn surplus in Q4 after 10 quarters

A slimmer merchandise trade deficit and expansion in services trade surplus, led India’s current account deficit to more-than-halve to a seven-year low of $23.2 billion in FY24 from $67 billion in FY23

from Business News Today, Latest Finance News | The Hindu

India records 0.6% current account surplus in March quarter on higher service exports, remittances

In the year-ago period, the current account deficit stood at $1.3 billion or 0.2% of GDP, and the same was $8.7 billion or 1% of GDP in the preceding quarter ending December 2023.

from Business News Today, Latest Finance News | The Hindu

Sony Pictures Networks India appoints Gaurav Banerjee as new MD & CEO

“Gaurav Banerjee will succeed N. P. Singh, who will move into the role of Non-Executive Chairman after a 25-year tenure,” Sony Pictures Networks India said.

from Business News Today, Latest Finance News | The Hindu

Rupee sees range-bound trade against U.S. dollar in morning deals

At the interbank foreign exchange market, the local unit opened at 83.52 and gained further to trade at 83.45 against the greenback in initial deals

from Business News Today, Latest Finance News | The Hindu

Industry for rethink on Chinese FDI curbs, high import tariffs

Country’s electronics sector is heavily import-dependent for vital components; PLI scheme may no longer help, cautions CII

from Business News Today, Latest Finance News | The Hindu

DGFT, Revenue dept working on dedicated hubs to boost e-commerce exports

India’s e-commerce exports stands at $2 billion and the Centre is looking at ways to support the ecosystem to boose exports

from Business News Today, Latest Finance News | The Hindu

HDFC Bank, ICICI Bank shine as m-cap of three of top-10 most valued firms jumps ₹1.06 lakh crore

Reliance Industries continued to be the most most valued firm, followed by TCS, HDFC Bank and ICICI Bank

from Business News Today, Latest Finance News | The Hindu

AI design tool Nirwana.AI secures seed funding

from Business News Today, Latest Finance News | The Hindu

States seek improvements in 50-year interest-free loan scheme

Finance Minister Nirmala Sitharaman assures that States’ ideas and inputs for Union Budget 2024-25 will get “due consideration”

from Business News Today, Latest Finance News | The Hindu

Global textile industry concerned about continuing weak demand

The survey conducted in the second half of May shows that most companies pointed to weak demand as the main concern

from Business News Today, Latest Finance News | The Hindu

Coimbatore’s Propel acquires stake in Ireland-based Omega

Propel will initially look at assembling some machines in the Ireland plant for the European market and also for after sales service.

from Business News Today, Latest Finance News | The Hindu

Union Finance Minister Nirmala Sitharaman chairs pre-budget meeting with State Finance Ministers

Preparation for the Union Budget 2024-25 is underway

from Business News Today, Latest Finance News | The Hindu

IBBI proposes amendments to insolvency rules; seeks public comments

from Business News Today, Latest Finance News | The Hindu

India Inc seeks tax relief for middle class, MSMEs

from Business News Today, Latest Finance News | The Hindu

Financial Intelligence Unit imposes ₹18.82 crore penalty on crypto exchange Binance for violating anti-money-laundering regulations

KuCoin had registered with FIU in March but faced a smaller penalty amount of ₹34.5 lakh.

from Business News Today, Latest Finance News | The Hindu

Rupee falls 4 paise to 83.48 against US dollar in early trade

‘The Indian currency resisted the fall amid the unabated inflow of foreign capital but gave in to the pressure due to a muted trend in the domestic equity markets’

from Business News Today, Latest Finance News | The Hindu

Cricket legend Muttiah Muralitharan to invest ₹1,400 crore in beverages unit in Chamarajanagar

Sri Lankan cricketer Muttiah Muralitharan plans to manufacture beverages and confectioneries under the brand ‘Muttiah Beverages and Confectioneries’

from Business News Today, Latest Finance News | The Hindu

Nvidia becomes world’s most valuable company

The chip company, which has enjoyed a monumental ascent over the last 18 months amid enthusiasm over generative AI, jumped 3.4% near, giving it a market capitalisation of about $3.3 trillion, slightly ahead of Microsoft and Apple

from Business News Today, Latest Finance News | The Hindu

Fitch raises India's growth estimates for FY25 to 7.2%

Fitch's estimates are in line with that of RBI which earlier this month projected Indian economy to expand 7.2 per cent in the current fiscal.

from Business News Today, Latest Finance News | The Hindu

Sensex, Nifty hit new all-time high levels in early trade

BSE Sensex climbed 334.03 points to hit its fresh lifetime peak of 77,326.80, Nifty went up by 108.25 points to hit its new all-time high of 23,573.85

from Business News Today, Latest Finance News | The Hindu

Indian firms’ Q1 revenue growth likely to slow: ICRA

According to ICRA, India Inc. reported a marginal increase in debt levels in FY24 on a YoY basis. The increase in debt levels were predominantly in sectors like gems and jewellery, construction, sugar, chemicals due to increase in working capital requirements

from Business News Today, Latest Finance News | The Hindu

Breaking the ‘class’ ceiling: Student-focused funds help campus start-ups take wings

While typically there has been a high entry barrier for student start-ups to raise funding, emergence of funds with dedicated focus on campus entrepreneurs seem to be easing the situation

from Business News Today, Latest Finance News | The Hindu

Amul seeks return of ice cream tub from Noida customer for investigation after centipede complaint

Noida's food safety department has launched a probe into this matter

from Business News Today, Latest Finance News | The Hindu

Stock markets shut today for Eid-ul-Adha; Asian markets open with mixed trends

from Business News Today, Latest Finance News | The Hindu

Nirmala Sitharaman to hold pre-budget meeting with industry chambers on June 20

FM Nirmala Sitharaman will have to look at measures to boost growth without hurting inflation and look for resources to meet the coalition government's compulsion.

from Business News Today, Latest Finance News | The Hindu

What is next for the Indian economy? | Explained

Will the reforms push be affected with a coalition government in place? Which are the sectors that will get priority? Will there be challenges in tackling issues such as inflation, fiscal consolidation, consumption, and taxation? What are the expectations from the Budget?

from Business News Today, Latest Finance News | The Hindu

Should the recent stock market volatility be probed? | Explained

What happened in the stock market after the exit poll results? What are the allegations made by Opposition parties? What are the rules on insider trading? What is SEBI’s role? Is a joint parliamentary committee inquiry warranted?

from Business News Today, Latest Finance News | The Hindu

Union Minister H.D. Kumaraswamy retracts statement on semiconductor unit in Gujarat a day after questioning quantum of subsidy

Karnataka Industries Minister M.B. Patil welcomed Mr. Kumaraswamy’s statement on Micron and said every State should get a level playing field and equal opportunities

from Business News Today, Latest Finance News | The Hindu

Health insurers set pace for May non-life gross direct premium

The gross direct premium of the five standalone health insurers rose 26.24% to ₹2,651.65 crore (₹2,100.48 crore), in line with a pattern seen for several months now.

from Business News Today, Latest Finance News | The Hindu

Government must ensure corporate takeovers are fair, monopolies are not created: Jairam Ramesh

“It is also the government’s responsibility to ensure that undue advantage arising out of access to political power is not exercised,” party general secretary Jairam Ramesh said.

from Business News Today, Latest Finance News | The Hindu

Windfall tax on crude petroleum slashed to ₹3,250/tonne

The new rates are effective from June 15, an official notification said

from Business News Today, Latest Finance News | The Hindu

India’s goods exports up 9.1% to $38.13 billion in May, but merchandise trade deficit jumps to $23.78 billion

Despite exports growing faster than imports in May, the merchandise trade deficit surged to a seven-month high of $23.78 billion

from Business News Today, Latest Finance News | The Hindu

Advertisers, media organisations push back on self-certification rules for ads

A self-certification requirement — to be implemented before June 20 by advertisers — has led to calls for further clarity and postponement from the media industry.

from Business News Today, Latest Finance News | The Hindu

Wholesale inflation hit a 15-month high in May

May marks the seventh successive month that the Wholesale Price Index (WPI) has risen on a year-on-year basis, after seven months of deflation.

from Business News Today, Latest Finance News | The Hindu

Markets decline in early trade after record rally

Titan, Asian Paints, Mahindra & Mahindra and Hindustan Unilever were among the biggest gainers

from Business News Today, Latest Finance News | The Hindu

Myanmar's economy in crisis as civil strife disrupts trade and livelihoods

Myanmar’s economy struggles amid civil war, poverty, and shrinking exports, with little improvement expected shortly

from Business News Today, Latest Finance News | The Hindu

Sensex, Nifty hit fresh record high levels in early trade

While the BSE Sensex jumped 538.89 points to hit its lifetime peak of 77,145.46, Nifty opened 158 points higher in early trade.

from Business News Today, Latest Finance News | The Hindu

Were retail investors hurt by the June 4 market crash? | Data

As opposed to FPIs and mutual funds, retail investors seem to have bought the dip on results day while booking profits the day before

from Business News Today, Latest Finance News | The Hindu

U.S. Fed holds interest rates, now sees just one cut this year

The announcement suggests that U.S. central bank officials remain wary about cutting rates too soon, despite consumer inflation data published earlier, which pointed to a slowdown in the rate of price increases in May.

from Business News Today, Latest Finance News | The Hindu

Will work faster to double income of farmers, says Agriculture Minister Shivraj Singh Chouhan

Shivraj Singh Chouhan has also been allocated the Rural Development Ministry in Prime Minister Narendra Modi's new Cabinet

from Business News Today, Latest Finance News | The Hindu

Indian tyre exports register sharp recovery in second half of last fiscal

from Business News Today, Latest Finance News | The Hindu

Karnataka recorded unprecedented peak electricity demand of 17,220 MW on February 17 this year, says Energy Minister K.J. George

The highest energy consumption in Karnataka — 332 Million Units (MU) — was recorded on April 5

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Medical lasers market grows rapidly in India as access increases

The Indian subsidiary of the global Israeli innovator in medical lasers, Alma Medical Pvt. Ltd. has expanded into Tier 2 cities, and plans to bring over-the-counter laser technology

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Passenger vehicle retail sales dip 1% in May as excessive heat, elections impacted demand: FADA

Three-wheeler retail sales jumped 20% year-on-year in May, FADA notes

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Paytm lays off employees as part of restructuring, facilitates outplacement support

Paytm did not disclose the number of employees impacted by the restructuring.

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Rupee falls 10 paise to 83.50 against U.S. dollar in early trade

Forex traders said uncertainty among market players was down as Narendra Modi was sworn in as Prime Minister on Sunday for a record-equalling third term

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Sensex breaches 77,000-mark for first time; Nifty hits new record high level in early trade

The 30-share BSE Sensex jumped 385.68 points to hit its new record high of 77,079.04 in early deals

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Bajaj Housing Finance files papers for ₹7,000 crore IPO

Proceeds from the fresh issue will be used to augment the company’s capital base to meet future capital requirements

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

GSTN rolls out form for tobacco manufacturers to report inputs, outputs to tax authorities

This new form GST SRM-II came within a month of GSTN rolling out form GST SRM-I for registering machines of such manufacturers

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

‘Global firms are adopting large AI models to cut costs’

‘Companies will likely develop their proprietary LAMs or purchase access from service providers’

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Make insurance cover for construction workers mandatory for building plan approval in Tamil Nadu : Union

The State government should make it mandatory for those who submit applications for building plan approval to get insurance cover for the workers, a Union leader said

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Textile industry welcomes QCO relaxation for polyester fibre

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Markets hold on to early gains after RBI monetary policy decision

Interest rate-sensitive bank, realty and auto stocks were trading with gains

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Rupee rises 6 paise to 83.47 against U.S. dollar in early trade

At the interbank foreign exchange market, the local unit opened at 83.46 and then slipped to 83.47 against the greenback, registering a gain of 6 paise from its previous close

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

India, S. Korea, US, Japan, EU launch Biopharmaceutical Alliance

The Biopharmaceutical Alliance was launched in response to the drug supply shortages experienced during the Covid-19 pandemic.

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

SEBI’s framework to shield stock prices against market rumours: Explained

SEBI on May 21 introduced a framework to tackle the impact of market rumours on the price of a scrip.

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Markets extend winning momentum to second day running

Among the 30 Sensex companies, NTPC, State Bank of India, Power Grid, Tata Steel, Tech Mahindra and HCL Technologies emerged as the biggest gainers

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Sensex plunges 5.7% as BJP fails to win majority on its own

Benchmark suffers its worst fall in more than four years; investors apprehensive that a coalition government would slow the BJP’s policy reforms agenda

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Financial markets were given artificial booster dose by exit polls: Congress

Congress criticizes artificial market boost from exit polls, emphasizes commitment to healthy financial markets and economic fundamentals

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Adani Group shares tumble; Adani Ports plunges 20%

Adani Group stocks plummeted as BJP lead in fewer seats than expected, causing significant market decline

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Rupee falls 26 paise to 83.40 against U.S. dollar in early trade

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Sensex, Nifty tank in early trade as initial counting for Lok Sabha polls showed mixed trend

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Does inequality lead to growth? | Explained

Several argue that inequality harms democratic processes. Some inequality, others argue, is actually beneficial, since it acts as an incentive to entrepreneurs to start businesses. This view is mistaken, for inequality can have deleterious economic effects

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Markets eye records as exit polls point to third term of Modi-led NDA

NIFTY 50 index futures were up about 2.7% in early trade and, at 23,350, indicated the index could touch new peaks when the cash market opens

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Gautam Adani overtakes Mukesh Ambani to become richest Asian

Mr. Adani with a net worth of $111 billion is now ranked as the 11th richest in the world, ahead of Mr. Ambani whose $109 billion wealth placed him at No. 12

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Farmers struggle to dry harvested cotton and fear drop in price

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Mango arrivals in Salem market increase to 40 metric tonnes per day

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

What grade of coal does India produce? | Explained

Why does it need imported coal? What is the status of the country’s transition away from the fossil fuel?

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

New air cargo route inaugurated between China and Pakistan

This air route is significant as it marks the first direct connection between Guizhou and Pakistan.

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

Pfizer drug extends life for people with rare form of lung cancer

Lorlatinib was tested in a clinical trial of hundreds of people with anaplastic lymphoma kinase (ALK)-positive advanced non-small cell lung cancer (NSCLC).

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

ATF price cut 6.5%, commercial LPG by ₹69

This is the third straight monthly reduction in rates. Prices differ from state to state depending on the incidence of local taxes.

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu

China factory activity dips as property pain persists

An official survey shows that factory activity in China slowed more than expected in May, suggesting further pressure on an economy already burdened by a prolonged crisis in the property industry

from Business News, Finance News, Market News, Stock News, BSE, NSE, Nifty | The Hindu