With Housing Development Finance Corporation's (HDFC's) merger with HDFC Bank becoming effective on July 1, the merged entity is set to become the top weight in the benchmarks S&P BSE Sensex and the National Stock Exchange Nifty indices, dislodging the country's most valuable company, Reliance Industries (RIL), from its perch. HDFC will stop trading after July 13. At present, RIL has a weighting of close to 12 per cent in the Sensex and 10.3 per cent in the broad-based Nifty. Meanwhile, HDFC Bank and HDFC have weights of 9.9 per cent and 6.8 per cent in the Sensex and 8.8 per cent and 6 per cent in the Nifty, respectively.
Three senior executives have resigned from Byju's at a time when the most valuable edtech company has been trying to address challenges such as due diligence issues, legal battles with lenders, challenges in raising fresh capital, and a markdown in its valuation by investors. Prathyusha Agarwal, the chief business officer of Byju's, has quit, according to sources. They said Himanshu Bajaj, business head of Byju's tuition centres, and Mukut Deepak, business head for Class 4 to 10, have also moved on.
Above-normal heatwave days are predicted in most parts of central, east and northwest India during this period.
Maruti Udyog Limited continued to lead the Indian automotive market in customer satisfaction and dealer service bagging the J D Power Asia Pacific 2002 award for the category for the third consecutive year, while two Hyundai models bagged the awards.
Describing India as an important member of the Quadrilateral Security Dialogue (the Quad) and a crucial partner for stability in the Indo-Pacific, the letter said that the lawmakers support the deepening strategic partnership between the two countries.
Rainfall in August is predicted to be below normal (less than 94 per cent of LPA), but the situation is expected to improve comparatively in September, the IMD said.
In a post on X, Modi said, "Happy to have welcomed @POTUS @JoeBiden to 7, Lok Kalyan Marg. Our meeting was very productive."
Its success script: Investing more in local content ecosystem; growing its partnership footprint.
An American began a 6,000-mile (9,656-km) voyage on Sunday in Japan, attempting to become the third person and the first woman to cross the Pacific Ocean by herself in a rowboat.
'The future of BRICS is under stress as Chinese attempts to expand the platform are being resisted by India and Brazil.' 'Beijing is focused on a quick expansion with the aim of giving the platform a distinctly anti-Western orientation, which New Delhi and Brasilia seem to have no interest in,' notes Harsh V Pant.
The destabilising and corrosive behaviour of the Chinese Community Party in the Indo-Pacific region is simply not helpful and some of the defence infrastructure that is being set up by China near its border with India is alarming, US Army's Pacific Commanding General Charles A Flynn said on Wednesday.
Over half, or 269 NSE 500 stocks, have given over 10-fold (10x) returns in the last two decades, finds a recent report by Goldman Sachs that analysed 10 major markets across emerging and developed markets (EM/DM) that covered 6,700 stocks. The report examined '10-baggers' - stocks that have generated at least 10x total returns within a rolling 5-year period over the past two decades. Some of the prominent ones that comprise these 269 stocks in the Indian context stocks that delivered over 10x total returns over a 5-year rolling period since 2000 as per Goldman Sachs includes Westlife Foodworld, Bharti Airtel, Adani Total Gas, Patanjali Foods, Larsen & Toubro, BEML, Blue Star, Shree Cement, Lupin, Godrej Industries, Astral, Adani Enterprises, Hindustan Petroleum and Deepak Fertilisers.
Biden welcomed Prime Minister Modi at the Summit and said "it is wonderful to see you again in person".
As it winds down its retail bank in the country, American lender Citi on Tuesday said it will be hiring 80 bankers in India over the next three years for its commercial banking vertical. The move is part of a plan to hire 350 bankers in Citi Commercial Bank Asia Pacific over the next three years, as per a statement. As per reports, the bank, which had taken a decision to exit the retail banking business in most of the markets globally, is in advanced stage of selling the business in India, with Axis Bank leading the race.
India is one of the few countries in the region that enjoys good relations with both Israel and Saudi Arabia, and IMEC would allow it to recreate the old Spice Route to Europe. All this is in jeopardy now, notes Rajeev Srinivasan.
A healthy growth in India's services segments has helped the country's total exports and imports of goods and services to cross the $800 billion mark during the first half of 2023, despite a slowdown in global demand, think tank GTRI said in a report on Monday. According to the analysis of the Global Trade Research Initiative (GTRI), exports of goods and services rose by 1.5 per cent to $385.4 billion during January-June this year, as against $379.5 billion in January-June 2022. Imports, however, dipped by 5.9 per cent to $415.5 billion during the six months of this year, as against $441.7 billion in January-June 2022.
China will not be allowed to use the southern port of Hambantota for military purposes, Sri Lankan President Ranil Wickremesinghe has said, apparently attempting to allay fears in India and the United States about China's increasing maritime presence in the strategic Indo-Pacific region.
Prime Minister Modi's visit saw India and the US signing several major deals to boost cooperation in key areas such as defence, space and trade.
Minutes after taking off from a launch pad in South Texas, the rocket appears to have exploded above the Gulf of Mexico.
The Indian and Chinese troops have been locked in a tense border standoff in eastern Ladakh since May 5, 2020, when a violent clash between the two sides erupted in the Pangong lake area.
Modi's visit to the US will commence in New York, where he will lead the celebrations of the International Day of Yoga at the headquarters of the United Nations on June 21.
'There are certain critical deficiencies like shortage of fighter squadrons and force multipliers which must be addressed on priority to retain our combat edge'
India on Thursday dismissed China's objection to the joint Indo-US military exercise near the Line of Actual Control in Uttarakhand's Auli, saying it did not give a veto to third countries on these issues.
Krithi Krithivasan is the kind of person one might look to when the need is to calm things down and put things back on track.
Russia needs to be held accountable for the tragic loss of lives in Ukraine following its 'terrible' invasion of that country, Australian Prime Minister Scott Morrison said on Monday at a virtual summit with his Indian counterpart Narendra Modi.
New York City Mayor Eric Adams said he was proud that the State Assembly and the State Senate have passed the bill making Diwali a New York City Public School holiday.
Pompeo explains how the Donald Trump administration succeeded in bringing India on board the Quad grouping.
In its set of recommendations, the China Committee said that economic sanctions against China in case of an attack on Taiwan will be most effective if key allies such as G7, NATO, NATO+5, and Quad members join, and negotiating a joint response and broadcasting this message publicly have the added benefit of enhancing deterrence.
Personal Computer (PC) shipments in Asia Pacific region declined by 2.6 per cent to 30.3 million units in the second quarter of 2012 compared to the same period in the previous calendar year, Gartner said on Friday.
India and Japan on Thursday agreed to enhance military exercises and defence cooperation as the two countries emphasised that the bilateral special strategic and global partnership plays a crucial role in ensuring a free, open and rules-based Indo-Pacific, amidst China's aggressive behaviour in the region.
President Biden has been forced to turn his attention to domestic politics, as he works to hash out a deal with Republicans to prevent the US from defaulting on its debts at the end of this month.
It is the first mega exercise involving the two aircraft carriers after induction of the indigenously-built INS Vikrant in September.
Upon his return, the PM is slated to get a gala welcome from the Bharatiya Janata Party.
Sitharaman said the notion that across the board in India, violence against Muslims is happening is a fallacy.
India as the G20 host has a 'unique role' to play in bringing about an end to the war in Ukraine due to its 'longstanding historical' ties to Russia, the United States has said, expressing hope to work closely with New Delhi to find a way to stop the conflict.
Wipro Ltd on Wednesday reported a 9.6 per cent drop in its net profit in the second quarter, on lower earnings from clients in non-US markets. The company reported a net profit of Rs 2,649.1 crore in July-September quarter, compared to Rs 2,930.6 crore in the same period a year back, the company said in a statement. Revenues rose to Rs 22,539.7 crore in the quarter under review, from Rs 19,667.4 crore a year-ago.
'Having India as a credible deterrent vis-a-vis Chinese ambitions in the Indian Ocean and South Asian region is a desirable short-term outcome.'
Nitisha Negi, was one of the five Indian footballers who were swept away by a huge wave on Sunday when they ventured into the seawaters after the completion of the Games. The Pacific Games were not recognised by the International School Sports Federation, the parent international body. The Indian contingent had around 120 members.
The WHO on Tuesday issued a product alert over contaminated syrup by an Indian manufacturer, warning that it is unsafe for use, especially in children, and may result in serious injury or death.
The resolution condemns additional Chinese provocations, including China's use of military force to change the status quo along the Line of Actual Control, construction of villages in contested areas, publication of maps with Mandarin-language names for cities and features in the Indian state of Arunachal Pradesh, and expansion of Beijing's territorial claims in Bhutan.
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