The rally in the equity markets in the second half of 2023 has led to a sharp surge in the cutoff for stocks to qualify as largecaps and midcaps. On the latest list put out by the Association of Mutual Funds in India (Amfi), the smallest largecap stock now has a market capitalisation (m-cap) of Rs 67,000 crore, 35 per cent higher than in July 2023. In the case of midcaps, the cutoff has surged 26 per cent to Rs 22,000 crore.
The Tamil Nadu unit of the Bharatiya Janata Patty on Wednesday submitted a memorandum to Governor R N Ravi seeking action over what it claimed "benami" links to ruling DMK Ministers, legislators and MPs and "three scams" to the tune of about Rs 5,600 crore.
Billionaire Gautam Adani to two Union Ministers and Maharashtra Deputy Chief Minister Devendra Fadnavis among others on Sunday hailed India crossing $4 trillion mark though there was no official confirmation if the country has achieved the landmark. The finance ministry and the National Statistical Office did not immediately comment on the viral social media post on India's GDP crossing $4 trillion. Highly placed sources said that the viral news was incorrect and India was still shy of that landmark.
Biden also called for Israel to respect humanitarian law and minimise the loss of civilian life, saying he counselled Israeli officials during his trip to Tel Aviv "against letting their hurt and rage mislead them into making mistakes we ourselves have made in the past."
'Byju's financials only reflect the core business. At a group level, they are experiencing substantial losses.'
The Bombay high court on Wednesday granted interim protection from arrest to Bharatiya Janata Party leader Kirit Somaiya in a case of alleged misappropriation of funds collected in the name of saving the decommissioned naval aircraft carrier INS Vikrant.
The state has suffered losses of Rs 4,000 crore and the figure is likely to go up as estimates continue to pour in, he said.
Inflation data, global trends and foreign fund trading activity would guide equity market movement in a holiday-shortened week, analysts said. Stock markets would remain closed on Tuesday for Independence Day. "Macroeconomic indicators, rupee and FII activities will be pivotal in shaping market trends in the coming days.
Justice Tushar Rao Gedela also asked the police to file replies to their applications seeking interim release till the pendency of the petitions.
With different agencies showing divergent predictions regarding the southwest monsoon, the central government and states are gearing up to face adversity with various line ministries reportedly being directed to undertake mock drills and hold preparatory meetings. Around 56 per cent of the net cultivable area of the country is rain-fed, accounting for 44 per cent of foodgrain production. The June-September rains contribute around 73 per cent of the annual precipitation.
Domestic macroeconomic data announcements, global trends, quarterly earnings and foreign fund trading activity would dictate terms in the equity markets this week, analysts said. Besides, movement of rupee against the US dollar and global oil benchmark Brent crude price would also guide the trading pattern in the equity markets. "From a macroeconomic perspective, market participants will be closely observing key events like the upcoming release of the US manufacturing PMI data, US services PMI data and US non-farm payrolls scheduled between August 1 and August 4.
Simultaneously, the US has urged both India and Pakistan to take immediate steps to de-escalate tensions.
Union Finance Minister Nirmala Sitharaman on Monday said GST compensation to some states is delayed due to non-availability of AG's authenticated certificate, and that Kerala has not sent even a single such certificate since 2017-18. Replying to a supplementary question, she also said that Rs 86,912 crore has been released for the Goods and Services Tax (GST) compensation payable to all states up to May 31, 2022. She said as per law, GST Council decides to whom the GST compensation is to be released, not by the central government.
The airline is operating just 6-7 planes, with almost its entire fleet being grounded due to non-payment of rentals to lessors amid severe paucity of cash.
The apex court on July 28 granted bail to the two accused, noting that the actual involvement of Gonsalves and Ferreira in any terrorist act has not surfaced from any third-party communications.
'People are blowing up their entire retirement fund; they are selling their land and house to spend on one day for a marriage.'
The first crowd-funded Kannada film will be released on September 6 by PVR's Director's Rare.
The economy may grow by around 7 per cent this financial year as estimated by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), say economists with various organisations. The first advance estimates for 2023-24 will be released on Friday by the National Statistical Organisation (NSO), an exercise done for calculating ratios such as the fiscal deficit. The interim Budget will be presented on February 1.
Reddy directed the officials to treat the storm as a major challenge to avoid loss of life and property as the winds are expected to blow gales reaching speeds of up to 110 kilometres per hour.
As India's stock rises, the resolution of the border row may become even more difficult, warn Harsh V Pant and Kalpit Mankikar.
Wipro was the biggest gainer in the Sensex pack, rising 4.34 per cent, followed by HCL Tech, UltraTech Cement, Tata Steel, Tech Mahindra, NTPC, Infosys, Power Grid, Tata Consultancy Services and State Bank of India. Mahindra & Mahindra, ITC, Axis Bank, Nestle, Kotak Mahindra Bank and Asian Paints were among the laggards.
The judgement, however, paved the way for their release as all of them have already served as much time in jail.
However, finding the funds to fulfill them will be a herculean task.
The interim funding has not been forthcoming thus far, and as a result Jet has extended cancellation of international operations until April 18.
'We want to make sustainability affordable.' 'We tell everyone, don't just recycle, Craste it!'
The guidelines have been prepared in line with the National Education Policy (NEP) 2020 that has envisioned that top universities in the world will be facilitated to operate in India.
Gogoi and Sarma have been locked in a war of words on 'X' since Wednesday on the issue of the chief minister's wife's company allegedly being given a credit subsidy of Rs 10 crore.
The Quad summit to be hosted by India in 2024 is likely to enhance New Delhi's strategic intent.
The move is likely to help 4.59 lakh housing units across the country.
The overall reserves had dropped by $4.53 billion to $588.78 billion in the previous reporting week. In October 2021, the country's forex reserve had reached an all-time high of $645 billion. The reserves have been declining as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments.
The Border Roads Organisation says it will complete restoration of the Amarnath Yatra track by June 15, 2023.
'Life had its own plans and now I have learnt to go with the flow.'
'Some of the associations have not got funds for three years and they don't have reserves while others have done infrastructural work by digging into fixed deposits. Now they are supposed to get at least 105 crores (Rs 35 Cr x 3 years) plus interest. But I don't think anyone will get that kind of money at one go'
ICC announced equal prize money for men's and women's teams at ICC events while also making changes to the over-rate sanctions in Test cricket.
'The formula now is even if there is no profit there should be break-even.' 'We green-light a film only if we can see break-even in it.'
A 'White Paper' versus 'Black Paper' battle erupted on Thursday as the Centre and the Congress unveiled documents and crossed swords over the handling of the Indian economy during the nearly 10 years of the BJP-led NDA rule and the previous 10-year tenure of the Congress-led UPA government.
Jena said that 205 bodies of the total 288 have been identified so far and handed over to their families.
Former Board of Control for Cricket in India chief Jagmohan Dalmiya was arrested on Wednesday on charges of misappropriation of over Rs 2.90 crore of the cricket body's funds, but immediately released on bail of Rs 25,000. Dalmiya was granted bail as per the provisions of a high court order, which granted him anticipatory bail over two years ago, his lawyer Satish Maneshinde said.
India are hosting a motorsport event of this magnitude for the first time since the 2013 Formula 1 Indian Grand Prix, which was dropped from the calendar due to financial, taxation and bureaucratic issues.
NSE Indices on Wednesday changed the methodology for handling schemes of demerger involving index constituents. The index provider said a company undergoing demerger would now be retained in its indices. The move comes ahead of the proposed demerger of Reliance Industries' (RIL's) financial services arm. Under the rules prevailing thus far, RIL -- which has the highest weighting among the 50 Nifty components -- would have been required to be removed from the index, resulting in a churn by funds tracking the Nifty index.
