India must be prepared to deal with climate disasters, geopolitical confrontations, and social strife linked to global events, asserts Jayant Sinha, chairman of Parliament's Standing Committee on Finance.
Scores of churches and homes belonging to Christians in Jaranwala tehsil of Faisalabad district, some 130 km from the provincial capital, were burnt down on Wednesday by a mob enraged over reports that two Christians had desecrated the Quran.
The Taliban dispensation in Afghanistan has said that India will resume work in at least 20 stalled projects in several provinces across the war-torn country.
Benchmark indices advanced for the second straight session on Tuesday, with the Sensex and Nifty jumping nearly 2 per cent each, mirroring a rally in global equity markets. Buying in index majors Reliance Industries and IT stocks buoyed the benchmarks. The BSE Sensex zoomed 934.23 points or 1.81 per cent to settle at 52,532.07. During the day, it rallied 1,201.56 points or 2.32 per cent to 52,799.40. The NSE Nifty climbed 288.65 points or 1.88 per cent to finish at 15,638.80.
Maruti was the top gainer in the Sensex pack, rising over 4 per cent, followed by IndusInd Bank, HDFC Bank, Bajaj Finserv, Titan, Wipro, and Bharti Airtel. NSE Nifty jumped 197.05 points to end at 17,463.80.
After two years of muted festivities due to COVID-19, crowds thronged churches across the country this Christmas on Sunday for special prayers as people celebrated the birth of Jesus Christ.
Olympic Council of Asia has postponed the 19th edition of the multi-sports Games
Private equity investments into domestic companies fell sharply year-on-year by 42 per cent to $23.3 billion in 2022, which is the lowest since 2019, when it was $15.8 billion, according to an industry report. The numbers reflect the overall funding winter that the startup space in particular, and the overall foreign investments in general have been witnessing since the Ukraine war began last February. Private equity investment inflows into the country fell by a sharp 42 per cent in 2022 from last year to $23.3 billion -- the lowest annual inflows since 2019 when it was a low $15.8 billion, but still relatively elevated compared to historical levels, said Elaine Tan, a senior analyst at Refinitiv, the LSEG business arm that provides financial markets data and insights.
Equity indices faced a heavy drubbing on Thursday after an initial rally, with Sensex tanking 1,045.60 points amid a largely bearish trend overseas after the US Federal Reserve hiked rates by 75 basis points.
Benchmark indices fell on Monday with the BSE Sensex declining 306 points, mainly dragged down by Reliance Industries. Foreign funds outflow also added to the overall bearish trend in equities on Monday. The 30-share BSE benchmark fell 306.01 points or 0.55 per cent to settle at 55,766.22. During the day, it declined 535.15 points or 0.95 per cent to 55,537.08. The broader NSE Nifty dipped 88.45 points or 0.53 per cent to 16,631.
Most of the local residents expressed fear that redevelopment will kill the small businesses in Dharavi that it is known for and that they are content with the way things are at present.
Sliding for the fourth straight day, the BSE Sensex shed 152 points in choppy trade on Wednesday amid mixed global cues ahead of the US Federal Reserve's policy decision.
A new West Asia is emerging and India must engage at the highest level and help shape this change, says Saeed Naqvi
However, in the last few sessions, the stock of Mukesh Ambani-controlled Reliance Industries Limited (RIL), hit its 52-week low level of Rs 2269.75, and has been one of the worst performers among the Sensex pack thus far in calendar year 2023 (CY23). Thus far in CY23, RIL has tanked nearly 11 per cent as compared to a fall of around 5 per cent in the S&P BSE Sensex. The fall in the stock, according to Gaurang Shah, senior vice-president at Geojit Financial Services is mostly due to the overall dip in the market sentiment, which in turn has impacted large-caps, including RIL.
Nasscom Foundation along with Google has set up a call centre in collaboration with a not-for-profit body ISAP to help women farmers scale up their business. The project is being run on a pilot basis to initially reach out to 20,000 rural women entrepreneurs across six states -- Himachal Pradesh, Uttarakhand, Uttar Pradesh, Bihar, Haryana and Rajasthan, Nasscom Foundation CEO Nidhi Bhasin said at the launch of "DigiVaani Call Center". "DigiVaani will be one place where rural women entrepreneurs will be able to call and get the information around various schemes available for them, which can help them scale up their business, be it government scheme or any other information that can be of help for them.
Equity benchmark Sensex on Monday crashed about 1,546 points to sink below the 58,000-level due to across-the-board selloff tracking sluggish global markets. Besides, persistent foreign capital outflows continued to affect the market sentiment, traders said. Benchmark indices started the session on a weaker note and the selling intensified during afternoon trade, with almost all sectoral indices ending in the red. The 30-share BSE Sensex ended 1,545.67 points or 2.62 per cent lower at 57,491.51.
Adani Green Energy entered the list of top-10 most valued companies in terms of market capitalisation (m-cap) in the country on Monday after its stock price zoomed 16.3 per cent to hit a new high of Rs 2,701.6 on the BSE. Adani Green Energy's m-cap now stands at Rs 4.22 trillion, surpassing Bharti Airtel, which has an m-cap of Rs 4.16 trillion. With today's rally, the stock has zoomed about 25 per cent in the last two trading days after UAE's International Holding Company (IHC) agreed to invest Rs 3,850 crore in Adani Green Energy through preferential issue.
'Consumers are willing to increase travel spends by 20-30 per cent versus pre-pandemic.'
Foreign portfolio investors (FPIs) are likely to seek from the finance ministry a six-month extension of the date for complying with the amendments to the Prevention of Money-Laundering Act (PMLA), citing implementation challenges. Sources said FPIs, through their custodians, were planning to approach the ministry, highlighting key concerns and seeking more clarification. The ministry, through a notification on March 7, lowered the threshold for reporting ultimate beneficial ownership (UBO) for non-profit organisations and politically exposed persons to 10 per cent from 25 per cent.
Equity benchmark Sensex rebounded 143 points on Friday, boosted by gains in index majors Reliance Industries, TCS and ICICI Bank amid a mixed trend in global markets. The 30-share index ended 142.81 points or 0.24 per cent higher at 59,744.65. Similarly, the NSE Nifty rose 66.80 points or 0.38 per cent to close at 17,812.70.
After years of being sequestered by the pandemic, some intrepid travellers are planning to settle their score with the novel coronavirus. With fewer or no travel curbs, they are eager to get back on the road, again. Hotels and tour operators, too, are eager to shed excess Covid baggage. And this year's Diwali promises to add that extra layer sparkle with the introduction of new flights.
Equity indices slipped in the negative territory on Wednesday after a two-day breather, with the BSE Sensex tumbling 709.54 points following weak trends in global markets. Unabated foreign fund outflows also played spoilsport for the bourses. The 30-share BSE Sensex tanked 709.54 points or 1.35 per cent to settle at 51,822.53. During the day, it declined 792.09 points or 1.50 per cent to 51,739.98.
Tech Mahindra was the top gainer in the Sensex pack, rising over 3 per cent, followed by Dr Reddy's, PowerGrid, Kotak Bank, Sun Pharma, ICICI Bank and M&M. On the other hand, IndusInd Bank, Asian Paints, Maruti and Bharti Airtel were among the laggards.
The Sensex pull-back was mainly staged by constant selloffs in banking shares, led by ICICI Bank, Axis Bank and IndusInd Bank. Of the Sensex constituents, 19 shares suffered losses.
HDFC Bank was the top loser in the Sensex pack, shedding over 3.5 per cent, followed by Bajaj Finance, L&T, HDFC, Bajaj Finserv, HDFC and Kotak Bank.
Investors' wealth eroded by over Rs 4.90 lakh crore on Friday amid a sharp fall in equities. The 30-share BSE Sensex tanked 1,020.80 points or 1.73 per cent to settle at 58,098.92. During the day, it tumbled 1,137.77 points or 1.92 per cent to 57,981.95. The market capitalisation of the BSE-listed firms plummeted by Rs 4,90,162.55 crore to Rs 2,76,64,566.79 crore on Friday.
BlackBuck, India's leading online trucking platform, has closed a $67 million round of equity financing. The round was led by Tribe Capital, IFC Emerging Asia Fund and VEF. Existing investors Wellington Management, Sands Capital, and International Finance Corporation also participated in the round. The investment has made the Bengaluru-based company a 'unicorn,' or a startup valued at more than $1 billion, according to the firm. The company will use these funds to further penetrate the market and launch new service offerings for its customer base.
Equity benchmarks had another rough day on Monday, with the Sensex plummeting 1,457 points and the Nifty tumbling to the 15,774 level, mirroring an extremely weak trend in global markets along with unrelenting foreign fund outflows. Index majors ICICI Bank, Infosys and Reliance Industries bore the brunt of heavy selling. The 30-share BSE Sensex tumbled 1,456.74 points or 2.68 per cent to settle at 52,846.70.
Unlike Israeli company NSO, whose sale of Pegasus cyber tech grabbed worldwide attention, and other manufacturers of offensive-cyber products, Cellebrite operates in a grey area between security exports and civilian ones.
Benchmark indices Sensex and Nifty gave up early gains to close lower for a fourth straight session on Thursday due to selling in IT and banking shares amid weak global equities. The 30-share BSE benchmark settled 98 points or 0.18 per cent lower at 53,416.15. During the day, it hit a high of 53,861.28 and a low of 53,163.77. The broader NSE Nifty also pared initial gains and ended 28 points or 0.18 per cent down to settle at 15,938.65.
Falling the second consecutive session, equity benchmark Sensex dropped over 140 points on Friday, tracking weakness in banking and energy stocks amid a mixed trend overseas. Investors also remained concerned over persistent foreign fund outflows, traders said. The 30-share BSE index ended 143.20 points or 0.24 per cent lower at 58,644.82. Similarly, the NSE Nifty shed 43.90 points or 0.25 per cent to close at 17,516.30.
'Jin Jiang had invested in Louvre Hotels.' 'Louvre, a couple of months ago, took a majority in Sarovar hotels.' 'So they are coming in now.' 'Look at the Chinese -- two quarters ago they took 25 percent in Hilton.' And then HNA also took majority in Carlson (Radisson).'
The Budget oration of the finance minister and the confidence with which she delivered it, along with the measures and the recent upsurge in the economy would all contribute to unleashing the storied 'animal spirits' and help the economy run on the growth path quite smoothly. Or so the government hopes, notes Shreekant Sambrani.
Market benchmarks gave up intra-day gains to close in the red for the sixth session on the trot on Friday, capping a bruising week which saw a massive dash for safety amid rate hikes by global central banks and fears of slowing growth.
Cooking gas LPG price on Wednesday was hiked by Rs 50 per cylinder, the third increase in rates since May on firming international energy prices. Non-subsidised LPG now costs Rs 1,053 per 14.2-kg cylinder in the national capital, up from Rs 1,003 previously, according to a price notification of state-owned fuel retailers. Common households pay non-subsidised rates for the cooking gas they buy, after the government restricted subsidy to just poor beneficiaries who got connections under the Ujjwala scheme.
Tata Steel was the top gainer in the Sensex pack, zooming 7.57 per cent, followed by Sun Pharma, IndusInd Bank, L&T, ITC and HCL Tech.
After two years of a record low interest-rate regime, Indian corporate houses are experiencing a sharp and abrupt increase in funding costs. With the Reserve Bank of India last month making an unequivocal turn towards policy tightening amid high inflation, firms looking to tap the capital markets for funds are ending up shelling out more. The yield on the benchmark triple-A-rated corporate bonds maturing in three years has climbed 98 basis points (bps) since the policy rate hike in May. It was last at 7.47 per cent, Bloomberg data showed.
Over 22 passenger and commercial vehicle makers and 18 two- and three-wheeler makers will take part amid proximate security.
'Meiteis started feeling insecure stating that the illegal immigrant population is growing in the valley, and that the majority community would become a minority.'
Edtech unicorn Vedantu has laid off 385 employees, nearly 11.6 per cent of the company workforce, according to sources. This move is being seen as part of a drive in the edtech sector towards profitability via cost-savings and consolidation, as funds dry up, they said. The Bengaluru-based firm has laid off over 1,100 employees (both full-time and contractual), so far, this year.
