Stock market update: Nifty Bank index advances 0.22%
The Nifty Bank index closed 0.22 per cent up at 51406.25.
The Nifty Bank index closed 0.22 per cent up at 51406.25.
On Monday, Nifty nearly hit 25k but retraced, while Sensex reached a new peak at 81,908. Both indices closed flat, with minimal changes.
Tiger Global, through its arm Internet Fund Pte, has acquired the shares at Rs 11.70 and will get around 549% return on investment through the IPO. The PE firm is selling about 63.6 lakh shares under the OFS and is likely to make a profit of Rs 49 crore.
Placements were tracked in the short-term training (STT) component across the first three versions of the scheme-PMKVY 1.0, PMKVY 2.0 and PMKVY 3.0-implemented from FY 2015-16 to FY 2021-22. However, in PMKVY 4.0, the current version of the scheme being implemented from FY 2022-23 onwards, placement is delinked, Jayant Chaudhary, minister of state (independent charge), ministry of skill development and entrepreneurship (MSDE) said in a written reply in the Lok Sabha on Monday.
Despite a recent pullback, the S&P 500 tech sector is trading at 29.5 times 12-month earnings estimates, near a two-decade high reached earlier this month. The overall market is also elevated historically, with the benchmark S&P 500 index trading at 20.7 times forward estimates, compared to its long-term average of 15.7, data from LSEG Datastream showed.
President Mohamed Muizzu thanked India and China for their significant contributions to stabilize the Maldives' economy. He announced loan deferments from China and the UAE, and ongoing talks with both China and India about currency swaps. Relations with India have improved after diplomatic negotiations related to military personnel and aircraft operations.
The Indian rupee hit a record low of 83.74 against the U.S. dollar on Monday, closing at 83.7275. Corporate dollar demand and local equity outflows added pressure. The Reserve Bank of India likely intervened to prevent further decline.
The Common University Entrance Test-Undergraduate (CUET-UG 2024) saw 22,920 candidates achieving perfect scores across 45 subjects, a slight increase in top scorers. Unlike previous years, this year's exams did not use percentile scores due to being conducted in a single shift.
sbi amrit vrishti special fd with higher interest rate: 8 important features
"The fire NOC (no-objection certificate) was issued to the building after it fulfilled all the norms. But there was no system to pump the water out from the basement. We have initiated the process of cancelling the fire NOC," a senior Delhi Fire Services official said.
A new scam, known as "Digital Arrest", has been doing rounds whereby scammers pose as officials and extort money from unsuspecting citizens over video calls.
The drowning of three students in Delhi's flooded basement highlights India's urban water challenges. Indian cities face severe oscillations between water scarcity and flooding due to climate change and poor infrastructure. Addressing these issues requires upgraded infrastructure, efficient urban planning, and sustainable practices, essential for economic growth and urban livability.
BEL Q1 Results 2024: Bharat Electronics (BEL) posted a 46% year-over-year increase in Q1 2024 standalone net profit, reaching Rs 776.14 crore. Revenue climbed 19.6% year-over-year to Rs 4,198.77 crore. However, quarterly net profit and revenue dropped significantly. Shares rose 5% post-results. BEL secured major contracts, including one with Armoured Vehicles Nigam Limited, boosting its order book.
Leader of Opposition Rahul Gandhi criticized the Modi government for removing indexation benefits on LTCG taxation in the new budget, claiming it betrays the middle class who supported Modi during COVID. He likened the current climate of fear to a 'chakravyuh,' asserting that it traps everyone, including BJP MPs, farmers, and workers, and vowed to dismantle it.
The government stated that ethanol blending with diesel is experimental and there are no plans to mandate it due to issues like deposit formation in fuel tanks. Minister Hardeep Singh Puri emphasized the need for further testing and safety considerations. Ethanol blending with petrol, however, has reached 15%, targeting 20%.
Vedanta Nico signed an agreement with AEsir Technologies to supply nickel for next-gen batteries. The partnership aims to develop nickel-zinc batteries, enhancing EV chargers, 5G telecom, and infrastructure. This move is expected to support the growing demand for EVs and sustainable technology.
India's installed power generation capacity has grown by around 80% over the last decade, reaching 4,46,190 MW in June 2024. The installed capacity of coal-based power has increased from 1,39,663 MW in March 2014 to 2,10,969 MW in June 2024, while the installed capacity of the renewable sector has increased from 75,519 MW to 1,95,013 MW.
The Central Bureau of Investigation (CBI) has accused Chief Minister Arvind Kejriwal of being the "sutradhar" in the excise policy scam. The CBI claimed that Kejriwal signed the excise policy, circulated it to his colleagues, and received their signatures within a single day during the COVID-19 pandemic. The CBI also filed its final chargesheet against Kejriwal, stating that he was present at the time Vijay Nair brought a copy of the excise policy to be entered into a computer.
The bench disposed of a petition filed by Mangalam Organics Ltd seeking contempt action against Patanjali for selling its camphor products despite a restraining order from the court.
The power and energy sector in India is projected to see a 9.01% workforce growth in the first half of 2024-25, driven by government initiatives towards a low-carbon future, according to a TeamLease Services report. The report indicates that 62% of organizations plan to expand their workforce, with Delhi, Bengaluru, and Mumbai leading in job locations.
Income tax payment: You can pay the income tax amount through net-banking, UPI, debit card, credit card and UPI QR. "Recently, the Canara Bank payment gateway on the Income Tax website began accepting American Express (AMEX) cards for tax payments. They are charging a fee of 0.9% plus GST for these transactions," as per Ankur Mittal, co-founder, cardinsider.com