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(Reuters) -India will spend $24 billion in job-spurring efforts over the next five years and boost rural spending, Finance Minister Nirmala Sitharaman said on Tuesday in the 2024/25 budget, unveiled after last month’s election setback for the government. COMMENTARY: SANDEEP NAYAK, ED & CEO OF CENTRUM BROKING, RETAIL, MUMBAI “The triad of welfare spends, capital …

India unveils incentives to create jobs in first budget after election Read More »

MUMBAI (Reuters) – The sharp jump in derivative trading by Indian retail investors is likely driven by a “gambling instinct”, a finance ministry report said on Monday, cautioning that any sharp correction in the stock market could drive away young investors. “Derivatives trading holds the potential for outsized gains. Thus, it caters to humans’ gambling …

A ‘gambling instinct’ has caused India’s surge in retail derivatives trading, government report says Read More »

By Manvi Pant and Bharath Rajeswaran BENGALURU (Reuters) -Indian shares closed marginally lower on Monday, dragged by Reliance Industries and Wipro after the companies posted weaker-than-expected quarterly results, with volatility rising a day ahead of the budget. The NSE Nifty 50 fell 0.09% to 24,509.25, while the S&P BSE Sensex shed 0.13% to 80,502.08. The …

Reliance, Wipro weigh on Indian shares amid volatility spike ahead of budget Read More »

NEW DELHI (Reuters) – India’s top court ruled on Monday that restaurants cannot be forced to display the names of their owners, suspending police orders in two northern states that critics had said could foment discrimination against Muslims. Police in the two states, both ruled by Prime Minister Narendra Modi’s Hindu-nationalist party, gave oral orders …

India court suspends order to restaurants to display owners’ names after anti-Muslim bias concerns Read More »

BENGALURU (Reuters) – Shares of Reliance Industries fell as much as 3% after the conglomerate reported first-quarter profit below analysts’ estimates on Friday, hurt by weak performance in its energy and retail segments. India’s most valuable company’s results were predominantly hurt by lower margins on fuel sales, while sluggish discretionary spending dragged retail division’s performance. …

India’s Reliance Industries falls as weak energy, retail weigh on Q1 results Read More »

BENGALURU (Reuters) -HDFC Bank’s shares rose nearly 2.5% on Monday, after India’s top private lender reported improved margins for a second consecutive quarter, and said it will normalise a key liquidity ratio going forward. HDFC Bank gained the most in percentage terms on the Nifty Bank index, which was up 0.1%. The bank said it …

India’s HDFC Bank up on margin improvement; loan-to-deposit ratio in focus Read More »

BENGALURU (Reuters) -Wipro’s shares dropped the most in over four years on Monday morning as investors punished India’s no. 4 IT services firm for posting poor growth when its rivals talked of a return of client spending and reported strong results. Shares of the company were down about 8% as of 10:46 a.m. IST, weighing …

India’s Wipro tanks after Q1 results flag growth concerns Read More »