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Topic :- Share Market Closing Note

Nifty around 19,700, Sensex up 800 pts; all sectors in the green:

Indian benchmark indices ended higher on November 15 with Nifty above 19,650 amid buying across the sectors.

Eicher Motors, Tech Mahindra, Hindalco Industries, Tata Motors and Infosys were among the top gainers on the Nifty, while losers were Bajaj Finance, Power Grid Corporation, IndusInd Bank, Bajaj Finserv and Apollo Hospitals.

All the sectoral indices are trading ended in the green with capital goods, auto, metal, information technology, oil & gas and realty up 1-3 percent.

BSE Midcap and Smallcap indices up 1 percent each.

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Topic :- Time:3.00 PM

Nifty spot if holds above 19620 level on closing basis then expect some further upmove in coming session and if it closes below above mentioned level then some sluggish movement is likely to be seen. Avoid open positions for tomorrow.

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Topic :- Time:2.50 PM

Just In:

Baba Food Processing shares fall 5% after listing at IPO issue price of ₹76

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Topic :- Time:2.30 PM

ZINC Trading View:

ZINC is trading at 233.15. If it manages to trade and sustain above 233.20 level then expect more upmove in it and if it breaks and trade below 232.80 level then some decline can be seen.

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Topic :- Time:12.45 PM

Just In:

YES Bank shares rise 7%; stock up 21% in 5 sessions.

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Topic :- Time:12.35 PM

Just In:

Siemens shares surge 3% as Siemens AG to buy 18% stake for 2.1 billion euros

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Topic :- Time:12.30 PM

SILVER Trading View:

SILVER is trading at 72100. If it manages to trade and sustain above 72140 level then expect some upmove in it and if it breaks and trade below 72040 level then some decline can be seen in it.

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Topic :- Time:12.10 PM

Nifty is highly rangebound yet again after gap up opening. Nifty spot if manages to trade and sustain above 19640 level then expect some upmove and if it breaks and trade below 19600 level then some decline can be seen in the market.

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Topic :- Time:11.50 AM

Just In:

Adani Energy Solutions plans to raise Rs 3,000 cr, arm may buy back $120-mn bonds

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex surges 600 pts; Realty index jumps 3%, IT pack 2%

2. Tata to JSW focus on this tech to ensure 24x7 green energy supply

3. Subrat Roys death: Rs 25,000 cr with Sebi

4.  Russia steps up presence in Indian Ocean

5. Oyo to prepay over Rs 1,600 cr debt

6. FMCG supply chain gridlock: Demand declines and inventory adds up

7. Indias FDI share gain more than others in its backyard, shows data

8. Slew of inclusions to MSCI Smallcap index to attract inflows worth $142 million

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Topic :- Time:11.00 AM

After positive opening nifty is still trading with good gains. Nifty spot if manages to trade and sustain above 19640 level then expect some upmove in the market and if it breaks and trade below 19600 level then some decline can be seen.

Nifty opened near resistance and long should be preferred above day high. Currently nifty is rangebound and is expected to remain in range in first half

BANKNIFTY expiry today.

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Topic :- Share Market Closing Note

Sensex ends 325 points lower, Nifty50 below 19,450; smallcaps outperform:

Except Nifty Metal and Nifty Energy, all sectors are trading in red. Bajaj Finance, Infosys, Grasim are the biggest losers on the Nifty 50

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Topic :- Time:3.05 PM

Nifty spot if manages to hold above 19420 level on closing basis then expect some upmove in coming sessions and if it closes below above mentioned level then some sluggish moves can be seen in the market. Avoid open positions for Wednesday.

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Topic :- Time:2.50 PM

Just In:

Mutual funds load up on BSE, Dixon Tech in October, sell Suzlon Energy, Chola Finance

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Topic :- Time:2.30 PM

NATURALGAS Trading View:

NG is trading at 265.70. If it manages to trade and sustain above 266.50 level then expect some upmove in it and if it breaks and trade below 263.50 level then some decline can follow. However buying from dips is recommended in Ng for now.

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Topic :- Time:2.00 PM

Nifty is still in same trading range. Avoid big trades and wait for clear direction. No point in jumping into trade in sideways market.

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Topic :- Time:1.30 PM

GOLD Trading View:

GOLD is trading at 59710. If it holds below 59840 level then expect it to decline towards 59550-59500 levels quite soon and once it manages to trade and sustain above 59840 level then some upmove can be seen in Gold.

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Topic :- Time:1.00 PM

Nifty is still in sleeping mode and is not willing to get up.Traders should also wait and watch for the right direction. Nifty spot if manages to trade and sustain above 19460 level then expect some upmove in the market and if it breaks and trade below 19420 level then some decline can follow in the Nifty.

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Topic :- Time:12.50 PM

Just In:

Adani Group eyeing opportunities in neighbouring countries after Sri Lanka port, says Karan Adani

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Topic :- Time:12.40 PM

Just In:

Smog engulfs Delhi after Diwali celebration amid worsening air quality

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Topic :- Time:12.30 PM

CRUDEOIL Trading View:

CRUDEOIL is trading at 6394. If it holds below 6420 level then expect some decline in it and if it manages to trade and sustain above 6420 level then some upmove can be seen in the Crudeoil.

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Topic :- Time:12.12 PM

Just In:

UK PM Rishi Sunak hosts EAM Dr S Jaishankar at 10 Downing Street on Diwali. Jaishankar gifts Sunak a cricket bat signed by Virat Kohli.

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Topic :- Time:12.00 PM

Eicher continues to cruise fast:

Factors like the pent-up demand for motorcycles, growing preference for premium bikes, and increasing momentum in export demand make the companys prospects promising.

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Topic :- Time:12.00 PM

Nifty is highly rangebound and is not showing any movement as such. Nifty spot if manages to trade and sustain above 19460 level then expect some upmove in the market and if it breaks and trade below 19420 level then some decline can be seen. As there is lack of movement so traders should wait and watch for some time before taking any big position.

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Topic :- Time:11.30 AM

COPPER Trading View:

COPPER is trading at 698.10. If it breaks and trade below 697 level then expect some decline in it and if it manages to trade and sustain above 700.20 level then some upmove can follow in Copper.

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Topic :- Time:11.15 AM

Just In:

Rupee gains 2 paise to 83.32 against US dollar in early trade

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Topic :- Time:11.00 AM

News Wrap Up:

1. Sensex dips 400pts, Nifty below 19450; power stocks gain

2. Cello World shares are trading firmly above issue price.

3. Protean eGov shares list at issue price of Rs 792

4. American Towers set to sell loss-making India ops for $2.2 billion

5. ONGC stock trades flat despite 142% spike in Q2 consolidated net profit

6. Tata Motors stock trades lower despite Moodys ratings upgrade

7. Oil prices ease on worries of waning demand in US and China

8. Joe Biden will push China to resume military ties with US, official says

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Topic :- Time:10.30 AM

After negative opening nifty is still trading in red zone. Nifty spot if breaks and trade below 19400 level then expect some decline in the market and if it manages to trade and sustain above 19460 level then some upmove can be seen in the Nifty.

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Topic :- Share Market Closing Note

Sensex, Nifty end marginally higher; Auto, IT drag, banks, metal, energy shine:

The Sensex settled72.48 points or 0.11 percent higherat 64,904.68, and the Nifty was ended with gains of30.00 points or 0.15 percent at 19,425.30.About 1,812 shares rose, 1,747fell, and 141 remained unchanged.

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Topic :- Time:3.05 PM

Just In:

M&M Q2 net profit rises 66.9% YoY at Rs 3,451.8 crore

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Topic :- Time:3.00 PM

Nifty spot if manages to close above 19360 level then expect some upmove in the market in coming days and if it closes below above mentioned level then some sluggish moves can further be seen.

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Topic :- Time:2.40 PM

Just In:

ED attaches properties worth ₹24 crore of Hero MotoCorp CEO Pawan Munjal

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Topic :- Time:2.30 PM

GOLD Trading View:

GOLD is trading at 60125. If it breaks and trade below 60080 level then expect some decline in it and if it manages to trade and sustain above 60160 level then some upmove can be seen in Gold.

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Topic :- Time:2.15 PM

Just In:

Hindalco Q2 profit rises 54.6% to Rs 847 crore on robust performance across business segments 

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Topic :- Time:2.00 PM

There is no movement in the market as such. Still one should wait and watch rather than booking loss.

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Topic :- Time:12.30 PM

COPPER trading View:

COPPER is trading at 703.70. If it manages to trade and sustain above 704.50 level then expect some upmove in it and if it breaks and trade below 702.80 level then some decline can follow in it.

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Topic :- Time:12.00 PM

Nifty is trading flat and dull yet again. Traders should wait for some movement before taking positions. Nifty spot is trading at 19380. If it manages to trade and sustain above 19400 level then expect some upmove in the market and if it breaks and trade below 19340 level then some decline is likely to follow in the Nifty.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex down 100 pts, Nifty flat; M&M, Hero MotoCorp worst hit

2. Mamaearth faces investors ire as selloff shaves off Rs 1,300 cr mcap since debut

3. India may raise probe heat on MG Motor India, Vivo

4. Rupee plunges to record low, tracking Asian peers

5. India may clear 10 PLI bids from IT hardware cos

6. Adani Enterprises aims big on data centers

7. Import of cheaper solar modules on rise

8. No plans to change board after Religare buy: Dabur Chairman Mohit Burman

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 Share Market Closing Note

Nifty above 19,400, Sensex up 595 pts; mid, smallcaps shine, PSU Banks drag:

Benchmark indices ended higher for the third consecutive session on November 6 with Nifty above 19,400.

At close, the Sensex was up 594.91 points or 0.92 percent at 64,958.69, and the Nifty was up 181.20 points or 0.94 percent at 19,411.80. About 2378 shares advanced, 1285 shares declined, and 164 shares unchanged.

Biggest gainers on the Nifty included, Divis Laboratories, Hero MotoCorp, Eicher Motors, Larsen & Toubro and Axis Bank, while losers were SBI, HUL, Tata Motors, Cipla and Titan Company.

Except PSU Bank (down 1 percent), all other sectoral indices ended in the green with pharma, capital goods, metal, oil & gas, power and realty up 1 percent each.

BSE Midcap and Smallcap indices rose 1 percent each.

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Topic :- Time:3.00 PM

Nifty spot if manages to hold above 19360 level on closing basis then expect some upmove in coming sessions and if it closes below above mentioned level then some sluggish moves can be seen. Avoid open short positions for tomorrow.

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Topic :- Time:2.30 PM

NATURALGAS Trading View:

NG is trading at 283. If it holds above 280 level then it is likely to test 288-289 levels quite soon and if it breaks and trade below 280 level then some decline can be seen in Naturalgas.

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Topic :- Time:2.15 PM

Just In:

Byjus in talks to sell US unit to Joffre Capital for $400m

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Topic :- Time:2.10 PM

Just In:

Odd-Even scheme in Delhi from November 13 to 20 to combat air pollution

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Topic :- Time:2.00 PM

Nifty is still trading in a very small range. Traders should wait and watch right now. Let some movement come before taking any big position. 

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Topic :- Time:1.45 PM

Just In:

Profit drops 29% on higher expenses, misses estimates.

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Topic :- Time:1.30 PM

GOLD Trading View:

GOLD is trading at 60830. If it manages to trade and sustain above 60865 level then expect some upmove in it and if it breaks and trade below 60780 level then some decline can be seen in the Gold.

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Topic :- Time:1.30 PM

GOLD Trading View:

GOLD is trading at 60830. If it manages to trade and sustain above 60865 level then expect some upmove in it and if it breaks and trade below 60780 level then some decline can be seen in the Gold.

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Topic :- Time:1.00 PM

After gap up opening nifty is once again trading in a very small range. Nifty spot if manages to trade and sustain above 19360-19380 levels then expect some upmove in the market and if it breaks and trade below 19320-19300 levels then some decline can follow in the Nifty.

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Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 711.40. If it breaks and trade below 710 level then some decline can be seen in the market however 708 holds the key support and if it manages to hold above 708 level then it is likely to head towards 716-718 levels quite soon. 

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Topic :- Time:12.00 PM

Nifty is rangebound now after gap up opening. Nifty spot if manages to trade and sustain above 19360 level then expect some upmove in the market and if it breaks and trade below 19320 level then some decline can be seen in the Nifty.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex up 300 pts; PB Fintech, Nykaa gain 4%, Zomato 2%

2. Adani group said to be in talks to exit FMCG joint venture with Wilmar

3. Oct auto retail sales dip 8% due to Shraddh period; Navratri sales up 18%

4. Zomatos second straight quarter of profit sees brokerages raise price targets

5. Cello World lists at Rs 831, over 28% premium to IPO price

6. Adani in talks with FMCG firms to sell its full 43.97% stake in Wilmar JV

7. L&T gains as arm to divest stake in subsidiary

8. The taxman wants to know if Indians are wearing an FPI mask

9. Zerodha demat A/Cs hit with another technical glitch

10. Protean eGov Tech IPO

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Topic :- Time:11.00 AM

After gap up opening nifty is still trading in green with good gains however nifty is losing some of its gains now. Nifty spot if manages to trade and sustain above 19360 level then expect some upmove and if it breaks and trade below 19320 level then some decline can be seen.

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Topic :- Nifty Opening Note

Indian Stock Market Trading View For 06 Nov,2023:

Nifty is likely to turn volatile as the day progresses. Global cues to dictate trend. Good stock specific action is expected through out the day.

Nifty spot if manages to trade and sustain above 19260 level then expect some upmove in it and if it breaks and trade below 19180 level then some decline can be seen in the market. Please note this is just opening view and should not be considered as the view for the whole day.

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Share Market Closing Note

Indian benchmark indices ended higher for the second consecutive session on November 3 with Nifty above 19,200.

At close, the Sensex was up 282.88 points or 0.44 percent at 64,363.78, and the Nifty was up 97.30 points or 0.51 percent at 19,230.60. About 2215 shares advanced, 1351 shares declined, and 124 shares unchanged.

Apollo Hospitals, Adani Ports, Eicher Motors, LTIMindtree and Titan Company were among major gainers on the Nifty while losers were Bajaj Finserv, Dr Reddys Laboratories, SBI Life Insurance, IndusInd Bank and Tata Steel.

All the sectoral indices ended in the green with oil & gas, realty up 1-2 percent each.

BSE Midcap index rose 0.7 percent and smallcap index up 1 percent.

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Topic :- Time:3.00 PM

Nifty spot if manages to sustain and close above 19200 level then expect some further upmove in market in coming sessions and if it closes below above mentioned level then some sluggish movement can follow in the Nifty. Avoid open short positions for Monday.

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Topic :- Time:2.30 PM

CRUDEOIL Trading View:

CRUDEOIL is trading at 6913. It will find its immediate support at 6880. If it manages to hold above 6880 level then expect it to test 6960-6980 levels quite soon. Buy on every dip till it holds above 6880 is recommended in it. Only if it breaks and trade below 6880 level then some decline can follow in it.

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Topic :- Time:2.20 PM

Just In:

Raymond forays into aerospace, defense & EV components biz with Rs 682-crore acquisition

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Topic :- Time:2.10 PM

Just In:

Kotak banks insurance stake sale to Zurich group a signature Uday Kotak deal

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Topic :- Time:2.00 PM

Nifty spot if manages to trade and sustain above 19280 level then expect some upmove in it and if it breaks and trade below 19240 level then some decline can be seen in the market.As movement is quite less one can trade in small quantity or can avoid for now.

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Topic :- Time:1.50 PM

Just In:

India debuts its 50-year bond at 7.46%

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Topic :- Time:1.30 PM

SILVER Trading View:

SILVER is trading at 71086. If it manages to trade and sustain above 71120 level then expect some upmove in it and if it breaks and trade below 71000 level then some decline can follow in it.

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Topic :- Time:1.00 PM

Overall after gap up opening market is flat right now. Traders are advised to wait and watch let Nifty move before taking big positions. Nifty spot if manages to trade and sustain above 19260 level then expect some upmove in the market and if it breaks and trade below 19220 level then some decline can follow in the Nifty. Currently Nifty spot is trading at 19249.

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Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 712. If it breaks and trade below 711 level then expect some decline in it and if it manages to trade and sustain above 712.80-713 level then some quick upmove is expected in it.

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Topic :- Time:12.15 PM

Just In:

PM Fumio Kishida announced a 17 trillion yen ($113 billion) tax-cutting economic relief package to combat Inflation.

Japan is now forced to reduce its historic Military budget

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Topic :- Time:12.00 PM

Nifty is shedding some of its early gains. Nifty spot is trading at 19241. If it breaks and trade below 19220 level then some decline can be seen and if it manages to trade and sustain above 19260 level then some upmove can follow in the market.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex jumps 400 points, Nifty above 19,250

2. Indias services activity slows to to 7-mth low in Oct

3. Go Firsts lenders stare at ₹6,500 crore in losses

4. Indian Bank extends deadline to invest in special FDs

5. UCO Banks loan defaulters wont get sweets

6. SpiceJet boosts network with 44 new flights

7. No nation buying more planes than India

8. FTX founder Bankman-Fried convicted of defrauding cryptocurrency customers

9. Chinas services activity picks up slightly in October, sales grow: Data

10. Tata Motors surges on robust Q2 results; brokerages upbeat

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The United Arab Emirates is considering investing as much as $50 billion in India, its second-largest trading partner, as part of a broader bet on the world’s fastest-growing major economy.

Provisional pledges from the UAE could be announced early next year, people familiar with the matter said, asking not to be named as the information is not public.

Any new investments would follow Narendra Modi’s meetings with UAE President Sheikh Mohammed bin Zayed in July.

The countries have been seeking to bolster ties over the past decade, and aim to increase non-oil bilateral trade to $100 billion. Modi’s recent visit to Abu Dhabi marked his fifth trip to the Gulf nation since he took over as prime minister in 2014.

The last Indian premier to visit the UAE before him was Indira Gandhi in 1981.

Deals being discussed include stakes in key Indian infrastructure projects and state-owned assets, with announcements likely before Modi seeks a third term in federal elections due next year, the people said. Some of the investments could involve sovereign wealth funds such as the Abu Dhabi Investment Authority, Mubadala Investment Co. and ADQ, they said.

The pledges are unlikely to have clear timelines for a large chunk of the investments, the people said. No final decisions have been made on the size or timing of the announcements.

As part of the push, entities overseen by Sheikh Tahnoon bin Zayed Al Nahyan have held early-stage talks on investing billions of dollars in India, one of the people said. Sheikh Tahnoon is the UAE president’s brother and chairman of International Holding Co., which disclosed a 5% stake in Gautam Adani’s flagship conglomerate last month. That came days after IHC sold down holdings in two Adani firms, though the firm reiterated its commitment to India at the time.

Representatives for India’s finance and trade ministries, the UAE government, and Sheikh Tahnoon’s private investment firm Royal Group didn’t respond to requests for comment. ADIA, ADQ and Mubadala declined to comment.

Growth Engine
Royal Group has long prized India, and executives there have called the country a potential growth engine of the next decade, Bloomberg has reported. Sheikh Tahnoon is also chairman of ADQ as well as ADIA — one of the world’s largest wealth funds, with close to $1 trillion in assets.

Lured by a rising middle class and seeking to diversify away from traditional investment destinations like Europe, Gulf state-backed investors have boosted ties with India. Others including the Qatar Investment Authority and Saudi Arabia’s Public Investment Fund have also emerged as prominent investors in the country.

The UAE’s plan is a further indicator of the government’s push to position itself as a country that avoids taking sides in a world increasingly split between Washington and Beijing.

As one of few countries to manage close to $1.5 trillion in sovereign wealth, the UAE is a vital ally to the world’s most populous nation, which is seeking to bridge infrastructure gaps. For India, any large foreign investments would help Prime Minister Modi highlight his efforts to bolster the economy ahead of the 2024 vote.

Earlier this year, the UAE announced plans to support Turkey’s embattled economy with a $51 billion investment pledge, including about $30 billion in energy. Talks over one deal in that sector — just one part of the broader bilateral push — have collapsed, Bloomberg News has reported.

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An exchange filing informed that over 98 percent of the shareholders were in favour of the appointment of Isha and Akash. However, Anant's appointment saw some pushback with over 7 percent votes against the resolution.

The shareholders of Reliance Industries (RIL) have approved the appointment of Isha Ambani, Akash Ambani and Anant Ambani to the board as non-executive directors, the firm announced in a BSE exchange filing on Friday. The resolutions were passed through postal ballot.

The filing informed that over 98 percent of the shareholders were in favour of the appointment of Isha and Akash. However, Anant's appointment saw some pushback with over 7 percent votes against the resolution but almost 93 percent were in favour.

Last year, RIL chairman Mukesh Ambani made way for his first-born Akash Ambani, to become the chairman of India's largest mobile firm, Reliance Jio Infocomm. Meanwhile, Isha was given Reliance's retail arm and Anant, the new energy business.

However, as per a Bloomberg report last week, Institutional Shareholder Services Inc., an international proxy advisory firm, had recommended that shareholders vote against the proposal to appoint Ambani’s youngest son, Anant Ambani.

“A vote against this resolution is warranted as Anant Ambani’s limited leadership/board experience of around six years, raises concerns on his potential contribution to the board," ISS had said, as per the report.

Meanwhile, it backed the board appointments of Isha and Akash Ambani in the shareholder vote, it stated.

ISS’s objections echoed the recommendations from Mumbai-based Institutional Investor Advisory Services, or IIAS, which said in an October 9 report, that “at 28 years of age," appointment of the young Ambani scion “does not align with our voting guidelines," the report added.

However, as per a Bloomberg report last week, Institutional Shareholder Services Inc., an international proxy advisory firm, had recommended that shareholders vote against the proposal to appoint Ambani’s youngest son, Anant Ambani.

“A vote against this resolution is warranted as Anant Ambani’s limited leadership/board experience of around six years, raises concerns on his potential contribution to the board," ISS had said, as per the report.

Meanwhile, it backed the board appointments of Isha and Akash Ambani in the shareholder vote, it stated.

ISS’s objections echoed the recommendations from Mumbai-based Institutional Investor Advisory Services, or IIAS, which said in an October 9 report, that “at 28 years of age," appointment of the young Ambani scion “does not align with our voting guidelines," the report added.

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Ministry of Electronics and Information Technology has recommended that Reserve Bank of India design a detailed Know Your Digital Finance App (KYDFA) process that companies have to undertake before they access the Indian banking system

In a bid to tackle the growing menace of illegal instant loan apps, the Ministry of Electronics and Information Technology (MeitY) has urged the Reserve Bank of India (RBI) to design for banks a more detailed KYC process that companies will have to furnish. It will help trace errant loan apps, the ministry believes.

On October 13, the MeitY conveyed this to Department of Financial Services (DFS) and RBI in a meeting held in this regard.

"We have recommended the RBI, within their regulatory framework, to design a detailed KYC for companies, which we refer to as Know Your Digital Finance App (KYDFA), in the same manner that customers have to undergo detailed KYC for opening a bank account," Minister for State for Electronics and Information Technology Rajeev Chandrasekhar told Moneycontrol. He chaired the meeting with the RBI and DFS.

"This will ensure that only legitimate and scrutinised financial apps can access and use the Indian banking system and further, if there is any violation of law, the KYDFA process will help in establishing traceability and origin of the app for action under law," he said.

This comes at a time when several people have fallen into the trap of predatory loan apps, often driving the victims to suicide. The pull point of these apps is that they offer money instantly as loan, as opposed to more traditional methods such as through banks.

However, what these loan apps offer in terms of speed and accessibility to money, they also compromise when it comes to security and privacy of individuals. It has been well documented that these apps, when installed get access to huge amounts of smartphone data, including one's entire contact list.

There have been cases when recovery agents of such loan apps, when the borrower fails to return the money within the stipulated time, has harassed the victim by reaching out to their relatives.

In some cases, recovery agents of such apps even threaten to circulate digitally altered, poronographic images of the victims among his or her relatives.

Such incidents have often driven victims to suicide. Apart from that, police have found that several such illegal lending apps have connections to Chinese nationals, raising concerns of national security .

Both the government and app stores, where such lending apps are hosted, have taken cognisance of issues associated with such apps, and over the few years, have taken steps to address them.

The government has been sending several advisories to Google and Apple app stores to take action against such apps as they contravene several sections of the Indian Penal Code and the Information Technology Act.

Google and Apple's app stores have been identifying and removing such apps regularly. Earlier this year, Google said that it has removed more than 3,500 personal loan apps in 2022 for violating its Play Policy requirements.

The finance ministry had last year proposed that the RBI will prepare a whitelist of such applications and that the government will only allow those applications to be hosted on app stores.

However,  these measures have fallen short as complaints against such lending loan apps have increased over time. The number of complaints against such apps have more than doubled to 1,062 in FY 23, the finance ministry informed the Lok Sabha recently.

The MeitY's latest recommendation to the RBI marks a new method through which the government aims to tackle the ever-growing menace of instant loan apps.

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Bajaj Finance Q2 Results LIVE Updates: The leading non-banking finance company (NBFC), announced its financial results for second quarter of FY24 today, 17 October, 2023. Bajaj Finance's net profit rose 27.8 per cent to ₹3,550 crore, compared to ₹2,781 crore in the corresponding period last year.

Analysts had expected the NBFC to report stable asset quality and strong loan growth. The company's net interest income (NII) also increased by 26.4 per cent to ₹8,841 crore, compared to ₹6,997 crore in the year-ago period.