ONGOING FINANCIAL YEAR
Budget: Chandrababu Naidu meets FM Nirmala Sitharaman, seeks financial aid for debt-ridden Andhra Pradesh
Budget 2024: According to the state government data, the public debt of Andhra Pradesh has increased from 31.02 per cent of the Gross State Domestic Product (GSDP) in 2019-20 to 33.32 per cent in 2023-24 fiscal, indicating deterioration in the fiscal health of the state in the last five years.
GIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session
Indian equities surge with Nifty crossing 24300 and Sensex breaching 80000. Tech view sets 24900 as the next target. Dollar weakens, oil prices fall, and rupee settles lower. FII net long increases to Rs 3.78 lakh crore. DIIs buy shares worth Rs 924 crore.
Puravankara aims to secure 20 million square feet of land by the end of the fiscal year
Puravankara's strategic plans include reducing net debt, optimizing debt costs, and utilizing its extensive land bank for future expansion and growth, as announced by the Group CEO. The company is focused on enhancing revenue from key markets like Bangalore and exploring new funding sources through AIFs, aligning with its goal of sustained growth and development.
Ratan Tata prevents mass firing of 115 TISS staff, provides financial grants
Ratan Tata has emerged as a savior for TISS employees. Recently, the prestigious Tata Institute of Social Sciences laid off 115 staff members. However, this decision was quickly reversed after Tata, chairman of the Tata Education Trust, offered to extend financial grants.
Job Market Outlook: AI integration set to boost employment in financial and real estate sectors
Manpower Group's latest Net Employment Outlook for June to September 2024 showcases positive trends in India's employment sector, ranking sixth globally. Despite some decline, the Financial Services and Real Estate sectors are driving growth, with AI integration expected to further boost employment opportunities. Various sectors and regions display differing hiring intents, reflecting cautious optimism amidst ongoing global challenges.
Reports: Michael Jackson was deeply indebted when he died. Know about amount and reasons for his financial woes
Michael Jackson's death in 2009 revealed his deep financial troubles, including over $500 million in debt. His extravagant lifestyle and legal battles worsened his situation.
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Proceedings initiated against Byju's under companies law 'still ongoing': MCA
Last year, the ministry ordered the inspection of the books of Byju's in the wake of various developments at the edtech company, including its inability to finalise the statements and the resignation of an auditor.
No neat solution to NEET, BSc or gap year part of study plan B
The National Eligibility cum Entrance Test (NEET) is embroiled in controversy, leading students seeking entrance to medical colleges to explore alternative paths such as taking a year off to prepare for the next round, considering foreign colleges, or opting for domestic Bachelor of Science (BSc) programs.
Global demand revival: How is India poised?
As the global demand sees some revival, India must get its act together to make the most out of it.
Pakistan to unveil Rs 18 trillion budget on June 12: Minister
The Pakistan government is likely to present the budget with the outlay of around Rs 18 trillion for the financial year 2024-25 on June 12, a minister said on Wednesday. The government will table the budget in the National Assembly after approval from the Cabinet, The Express Tribune newspaper reported, quoting the Minister of State for Finance Ali Pervaiz Malik.
3 undervalued cryptos for financial freedom in 2024
Investors are hoarding emerging crypto coins like PlayDoge, 99Bitcoins, and Sealana, which offer unique features and potential for growth in the crypto market.
Banking frauds triple in the past fiscal year: RBI data
The amount involved due to fraud in public banks was Rs. 10,507 crores, while private banks incurred losses of Rs. 3,107 crores. The number of frauds due to card and internet transactions shot up more than four times, with 29,000 cases being detected in FY24.
Economists project continued economic momentum and stability after India reports robust GDP growth in Q4
India's economy experienced a 7.8% growth rate in the January-March quarter, surpassing expectations due to strong performance in the manufacturing sector. The GDP growth in the fourth quarter of FY24 was slightly lower than the revised 8.6% growth in the previous quarter. Economists are optimistic about sustained momentum throughout the year, with the gap between GDP and gross value added (GVA) expected to normalize from the second quarter of FY25.
Modi govt turned around banking sector, over Rs 10 lakh crore bad loans recovered in 10 years: Nirmala Sitharaman
Finance minister Nirmala Sitharaman highlighted the Modi government's success in the banking sector, recovering over Rs 10 lakh crore from bad loans. The Enforcement Directorate investigated 1,105 bank fraud cases, attaching proceeds worth Rs 64,920 crore.
10-year bond yield falls to near-one-year low on RBI’s record surplus dividend transfer to govt
A fall in government bond yields lowers borrowing costs across the economy as sovereign debt yields are the benchmarks for determining price of corporate borrowing.
Crypto Talk: Election year economic policies could propel Bitcoin to new heights, predicts Rajagopal Menon of WazirX
2024 is projected to be a significant year for cryptocurrencies with government spending expected to rise, leading to a potential reduction in interest rates. Bitcoin's price surge post-halving is driven by factors like institutional demand and cyclical patterns. Rajagopal Menon says no one who has held Bitcoin for more than 4 years has ever lost money. Systematically buying Bitcoin every month, similar to investing in a mutual fund, can be an effective strategy.
Volatility has risen as Lok Sabha Elections 2024 fever grips the stock market; will polls halt the rally?
Volatility has risen in recent weeks as election fever grips the market. The heightened volatility stems from concerns over lower voter turnout in the ongoing general elections, potentially indicating an unfavourable verdict for the ruling party. Is this market nervousness a sign of future trends or a temporary blip before equities resume their upward journey?
ETMarkets Smart Talk: 3 reasons why FIIs are turning net sellers after putting Rs 2 trn in FY24: Pradeep Gupta
Pradeep Gupta of Anand Rathi Group discusses FIIs turning net sellers in India due to various global uncertainties and market volatility, emphasizing the importance of long-term strategic decisions in an interview with ETMarkets. Gupta says: "On a risk-adjusted basis, there is equal positivity on large and small cap indices, with slightly more caution on the mid-cap segment."
Q1 tax revenue likely to exceed budgeted growth
The government expects tax revenues to exceed budgeted growth in Q1 but will stick to interim budget revenue estimates, considering global headwinds. Gross revenue collections projected at ₹38.30 lakh crore for FY 2024-25, with factors like compliance, corporate earnings, elections, and enhanced focus on recovery contributing to growth.
Signature Global reports 112% growth in pre-sales
The company reported robust growth in the revenue and net profit for the fourth quarter ended March 31, 2024 on the back of strong pre-sales booking and higher realisations.
SBI, Godrej Consumer top buys post Q4 results; could give 13-17% upside in 1 year
SBI and Godrej Consumer are top buys post Q4 results, led by BFSI and Auto sectors. Nifty stocks show growth, while Tier-1 IT companies face challenges. Business and credit growth outlook positive for SBI.
India's FY24 fiscal deficit seen slightly better than projected: Source
India's fiscal deficit for the year ending March 2024 is anticipated to surpass the government's estimate of 17.35 trillion rupees, with increased tax revenues contributing to the improvement. The income tax receipts surged by 17.7% year-on-year to nearly $235 billion, exceeding projections. The government aims for a fiscal deficit of 5.8% of GDP for the year, with further details expected upon the release of fiscal data on May 31.
Navigating economic horizons: RBI's role in FY 2024-2025
RBI's nuanced approach in FY 2024-2025 balances growth, inflation, and stability. Expect cautious yet proactive policy rates. Strategic reserves, global index inclusion, and fiscal discipline shape India's economic landscape.
FPIs take cautious approach amid ongoing general elections; inject Rs 1,156 cr in May
"With general elections in full swing in India, foreign investors have adopted a wait and watch approach, until the election results are out," Himanshu Srivastava, Associate Director - Manager Research, Morningstar Investment Research India, said.
Mindspace REIT records highest-ever quarterly leasing of 2 million sq ft in Q4
The REIT’s net operating income grew 9.3% from a year ago during the fourth quarter to Rs 477 crore and 11.9% to Rs 1,896 crore for 2023-24. “We had a record quarter, leasing 2 million sq ft, making this our top-performing quarter since going public. Our committed occupancy now stands at 90.6%,” said Ramesh Nair, CEO, K Raheja Corp Investment Managers, Manager to Mindspace REIT.
Copper and aluminium prices at multi-year highs. Here’s why
Looking ahead, as prices are hovering near multi-year highs, there are chances of a technical correction, but such moves are unlikely to set into major liquidation. Since the supply-demand dynamics are supportive of prices, the ongoing positive sentiment will remain intact for the short run.
Not just stocks, FPIs turn net sellers in debt market after a year. What's the stress?
Higher US Treasury yields and the rupee slipping to record lows have led to some position unwinding by foreign investors, who have sold nearly $1.3 billion of government bonds in April.
Retirement planning: Where to invest to create retirement corpus of Rs 6 crore in 20 years
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
Godrej Properties poised to exceed FY24’s Rs 15,000-cr project addition guidance, says Chairman
Godrej Properties expects to surpass its business development guidance, driven by a robust deal pipeline and ongoing consolidation. The recent acquisitions in the Hyderabad property market and Bengaluru hold significant revenue potential. The company anticipates delivering its best-ever annual performance.
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