Stock market update: Nifty Bank index advances 0.34%
The Nifty Bank index closed 0.34 per cent up at 52455.9.
The Nifty Bank index closed 0.34 per cent up at 52455.9.
Swami Avimukteshwaranand Saraswati, the Shankaracharya of the Jyotish Peeth in Uttarakhand, met Shiv Sena (UBT) leader Uddhav Thackeray on Monday, expressing sympathy for Thackeray's betrayal and suggesting that Maharashtra's pain will persist until he becomes chief minister again. The seer criticized the betrayal as a sin and questioned the recent foundation stone laying of a Kedarnath temple in Delhi by Uttarakhand's chief minister.
The Republican convention, designed to project a softer image and focus on Trump's agenda, shifted dramatically after a shooting shook American politics. Amid heightened anxiety and calls for calm, the GOP remains undeterred in its convention plans, featuring over 100 speakers emphasizing everyday issues and Trump's policies.
The banking index needs a breakout above 52,500 levels to head towards 53,000, suggested experts. SBI, Bandhan Bank, PNB, and Bank of Baroda were among top gainers while ICICI Bank, Federal Bank, AU Small Finance Bank, and Axis Bank saw selling pressure.
China is pushing ahead with its ambitious sixth-generation fighter jet program, aiming for a prototype by 2028 and a meaningful design by the late 2030s. Experts highlight China's significant progress in aerospace technology, suggesting it could rival global leaders within two decades. This development comes as China seeks to enhance its military capabilities and strategic deterrence.
The Delhi government began the trial run of its mohalla bus service on Monday with two routes: Majlis Park to Pradhan Enclave and Akshardham to Mayur Vihar Phase III. Transport Minister Kailash Gahlot announced 2,080 buses under the scheme, aiming to improve last-mile connectivity. The trial will last a week, with a full rollout expected in two to three weeks.
Four BJP-affiliated nominated Rajya Sabha members retire, reducing party's strength in the Upper House. Vacancies in nominated category need to be filled to minimize NDA's reliance on external support. Elections for 11 vacant seats expected, with projections favoring NDA.
Sri Lanka is set to reduce power prices by 22.5% starting Tuesday to alleviate the financial strain on its population amid a severe economic crisis. The price cuts come after significant increases to meet IMF bailout conditions. The move is expected to benefit industries and low-income users, aiding economic recovery and maintaining inflation targets.
Ashok Leyland has secured a Rs 981.45 crore order from Maharashtra State Road Transport Corporation (MSRTC) for 2,104 Viking buses. This BSVI OBD II compliant bus order will be fulfilled from August 2024 to August 2025. The deal strengthens Ashok Leyland's market position, with MSRTC's fleet now predominantly featuring its buses.
Mukka Proteins, Kellton Tech, Godfrey Philips, Geojit Financial and ISMT Ltd, hit their fresh 52-week highs during the day.
Hindustan Unilever Limited (HUL) has agreed to sell its Pureit water business to AO Smith for Rs 601 crore. Pureit, launched two decades ago, generated Rs 293 crore in FY24. The sale aligns with HUL's strategy to focus on core categories. The transaction, expected to complete in three months, requires customary closing conditions.
Pakistan's government, led by Shehbaz Sharif, has raised the electricity base tariff for domestic consumers to PKR 48.84. The increase, approved by NEPRA, excludes those using up to 200 units per month for three months. Additionally, tariffs for commercial, agricultural, and general services consumers have also been raised.
The Nifty IT index closed 0.29 per cent down at 38911.35.
Competence Exports in Hajipur, Bihar, manufactures safety shoes for the Russian army and designer shoes for European markets. The facility, started in 2018, aims to generate local employment, employing 70% women among its 300 workers. They exported 1.5 million pairs of shoes worth Rs 100 crore last year, with plans to increase this by 50% next year. Despite infrastructure challenges, the company is expanding its market and developing high-end shoes for international brands, contributing significantly to Bihar's industrial growth.
In the Nifty pack, 34 stocks closed in the green, while 16 stocks ended in the red.
Varun Beverages Ltd's subsidiaries plan to manufacture, distribute, and sell PepsiCo's 'Simba Munchiez' snacks in Zimbabwe and Zambia. They will invest $7 million to set up manufacturing units, with operations starting by October 2025 in Zimbabwe and April 2026 in Zambia. The move aims to expand PepsiCo's snacks footprint and leverage VBL's distribution capabilities
Maire's Tecnimont and Nextchem secured a contract from Sembcorp Green Hydrogen India for an engineering design study of a green ammonia plant in India. The study will use Nextchem’s ArcHy tool to optimize plant efficiency. Maire CEO Alessandro Bernini highlighted the Group's commitment to energy transition and cost-effective decarbonization solutions.
Former US President Donald Trump survived an assassination attempt on Saturday, days before he becomes the official Republican presidential nominee.
India Post GDS Recruitment 2024: The Department of Posts has launched the India Post GDS Recruitment 2024 for Gramin Dak Sevaks, Branch Post Masters, and Assistant Branch Post Masters. Candidates can apply online from July 15 to August 5, 2024. Selection is merit-based, relying on Class 10th marks. Salaries range from Rs. 12,000 to Rs. 16,000 per month.
The project is scheduled to be completed in ongoing financial year 2024-25, Waaree Renewable Technologies Ltd (WAAREERTL) said in an exchange filing. "WAAREERTL has received a Letter of Award (LOA) for the execution of Engineering, Procurement and Construction works for solar power project of 30 MW DC capacity on turnkey basis," it said.
Banks in some states will be closed on Wednesday, July 17, 2024 on the occasion of Muharram. It is the first month of the Islamic calendar, and one of the four sacred months of the year.
Around 89 per cent of people surveyed by Localcircles have experienced call drops in the last three months, while nine in 10 have used Wi-Fi networks to make calls through calling and messaging apps. The survey was conducted between March and June and received a total of 32,000 responses from 362 districts.
A major Cambodian payments firm received crypto worth over $150,000 from a digital wallet used by North Korean hacking outfit Lazarus. The firm was unaware of the source of the funds. Investigations ongoing into the laundering of stolen crypto from multiple companies.
The Nifty Pharma index closed 1.13 per cent up at 20844.55.