Uttar Pradesh's Cabinet approved Tata Sons' Rs 650 crore proposal to build an Ayodhya 'museum of temples,' funded through Tata's CSR. Additionally, Rs 100 crore was allocated for Ayodhya's development, and helicopter services will start in Lucknow, Prayagraj, and Kapilvastu. The museum will showcase India's temple history with a potential light-and-sound show.
The newly-elected BJP government in Odisha is exploring a phased liquor ban to tackle alcohol addiction, according to Social Security Minister Nityananda Gond. He highlighted plans to follow other states like Gujarat and Bihar in gradually reducing liquor sales, aiming for a liquor-free Odisha in the future. The government also intends to combat drug use to promote public health, amidst recent debunking of rumors regarding an imminent statewide liquor ban.
Here are seven bizarre phobias that are less commonly known:
Global tyre giants Michelin, Bridgestone, and Goodyear, along with potential investors Yokohama and Birla Tyre, are set to invest around Rs 3,000 crore in India's manufacturing sector under a government scheme linking imports to local investment. This initiative, aimed at boosting domestic production, follows the Centre’s import restrictions.
Nifty ended Wednesday session 147.5 points higher and formed a new peak at 23,889 level to form a long bull candle on the daily charts.
"Shiromani Akali Dal Working Committee reposes complete faith in the leadership of party president Sukhbir Singh Badal and urges detractors not to play into the hands of Panth's enemies. The committee asks the president to lead the efforts to expose conspiracies against the party, 'panth' and Punjab," said the party in a post on X.
Fiberweb India, Somi Conveyor, Amines Plastic, Precot Meridian and AGC Networks, hit their fresh 52-week highs during the day.
Macquarie Capital warned that farm loan waivers could negatively impact banks' asset quality, particularly for public sector banks. States like Telangana, Jharkhand, and Punjab are either implementing or considering such waivers. Macquarie's Suresh Ganapathy highlighted that these waivers create moral hazards and deteriorate credit culture, as even reliable farmers might start defaulting.
Analysts attribute DEE Development's impressive debut to its robust competitive position, well-established client base, diverse range of products, strong order book, and consistent financial performance.
The Nifty Auto index closed 0.92 per cent down at 25018.9.
Matter Motors secures significant funding from diverse investors, propelling expansion plans. With a competitive market landscape, the company aims to deliver innovative electric motorcycles globally, targeting European markets like Turkey and Spain for growth.
India Ratings and Research predicts that vehicle financiers will increase the share of used vehicles in their AUM due to rising new vehicle prices, food inflation, heat wave, moderation in capacity utilization due to elections, and slowing rural economy. The agency also expects a decrease in FY25 growth rates from FY24 levels. The agency expects non-bank finance companies to focus on used vehicles as assets class, presenting a favorable risk-return in terms of asset quality and pricing power.
In the Nifty pack, 25 stocks closed in the green, while 25 stocks ended in the red.
Financial flows also increased leading to accretion in foreign exchange reserves during the fourth quarter amounting to USD 30.8 billion, it said. The country's foreign reserves, as of June 14, 2024, stood at USD 652.9 billion. The report said even though the FDI inflows continued, there has also been a rise in outward FDI, leading to a reduction in net flows, the report said.
Valley of flowers, great lakes trek and more trekking destinations ideal for July
The Japanese yen declined by up to 0.4%, reaching 160.39 against the dollar, surpassing the threshold that previously triggered market intervention by officials in April. The significant disparity in interest rates between Japan and the U.S. continues to exert pressure on the yen, despite efforts to curb its depreciation.
During the year ended on March 31, 2024, the bank infused additional capital of Rs 489.67 crore in SBI General Insurance Company Ltd. The company has also allotted ESOP (Employee Stock Ownership Plan) to employees and consequently, the bank's stake has decreased from 69.95 per cent to 69.11 per cent.
Inox Green Energy Services on Wednesday said its board of directors has approved a proposal to raise up to Rs 1,050 crore through issuance of equities and convertible warrants.
These top 5 small-cap mutual funds have returned over 56% in the past year.
Al Hassan convicted of war crimes in Timbuktu for reign of terror by insurgents in 2012. Victims faced corporal punishment, imprisonment. Prosecutor highlighted the atrocities. Court issued reparation order post conviction of Ahmad Al Faqi Al Mahdi.
There are three types of budgets: balanced, surplus, and deficit, based on how accurate these projections are. The three distinct budget kinds are discussed below.
Post-Emergency, I rose as a leader advocating for democratic values, recognized for my contributions in the fight against oppressive regimes. Through my diverse experiences and writings, I demonstrated unwavering dedication to upholding democratic principles and fostering positive societal change.