India's equity benchmarks achieved new highs on Monday, with the Nifty closing just below the 25,000 mark at 24,836.10. Sensex also reached record levels before ending at 81,355.84. Initial gains were pared by selling pressure. Investors remain cautious as they await the US Federal Reserve's meeting later this week.
On Tuesday morning, 18 coaches of the Mumbai-Howrah Mail derailed near Chakradharpur, between Rajkharswan West Outer and Barabamboo in Jharkhand. The accident, which occurred at 3:45 AM near Badabamboo, approximately 80 km from Jamshedpur, resulted in two fatalities and 20 injuries. West Singhbhum Deputy Commissioner confirmed the casualties and reported that rescue operations are underway to assist those affected.
Happy Tuesday! Ola Electric founder and CEO Bhavish Aggarwal spoke to us on taking the four-year-old EV startup public. This and more in today's ETtech Morning Dispatch.
Indian markets began strong but ended flat after profit booking. This week, central bank meetings from the US, UK, and Japan will be in focus, especially for interest-sensitive sectors like banking. Volatility is expected. Oil prices declined amid concerns about Chinese demand. Investors closely monitor these developments.
The construction of Ayodhya's Ram Temple, overseen by Nripendra Mishra, experienced delays due to reduced workers caused by weather conditions. Mishra cited a two-month delay unless more workers join. Since the ‘Pran Pratishtha’ ceremony in January, the temple has seen over 1.5 crore visitors, with numbers increasing daily.
Asian markets started lower as investors reduced their positions ahead of significant upcoming events like central bank decisions and major economic data. Equities in Japan and Australia dropped, with futures in Hong Kong indicating a similar trend. Treasuries had gains, while US stock futures saw a slight decline.
Early Tuesday, massive landslides struck near Meppadi in Kerala's Wayanad district, trapping hundreds of people. The Kerala State Disaster Management Authority (KSDMA) has deployed Fireforce and NDRF teams, with another NDRF team en route. Additionally, two teams from the Kannur Defence Security Corps are assisting in the rescue efforts. The Kerala Chief Minister confirmed that all government agencies are actively involved in the operations, addressing fears that many individuals are trapped.
Domestic markets saw a slow start after an initially strong session. Tata Consumer, Varun Beverages were in focus due to results announcements. ACC and HPCL reported substantial profit declines. Quess Corp and India Cements had notable financial transactions. ITD Cementation won a significant order, and Tata Steel acquired equity shares in T Steel Holdings.
This will be the first equity fundraising by an Adani Group company since Adani Enterprises called off its ₹20,000 crore follow-on public offer (FPO) in February last year after having raised the amount.
While the recent upmove in largecaps has made them cover some of the differential which has developed in the valuations between mid and large stocks, if one looks at the long term average, there is still a scope for mean reversion. But as an investor, even in a bull market, it would be better to stay prepared for a volatile phase. So a part of the incremental exposure should be going to largecap stocks. The reason: there is enough evidence of large caps doing relatively well in the corrective phase of the markets. Читать дальше...
Direct ecommerce, or brands selling directly to consumers through their digital platforms, has risen to 10-15% of India’s online retail market of $70-75 billion now, from 2-3% five years ago, according to data. Why are these brands focussing on their own channels for sales and cutting reliance on marketplaces?
The reduction in long-term capital gains (LTCG) tax on unlisted securities announced in the Union budget stands to benefit startup staffers holding employee stock option plans (Esop). Founders and tax experts told ET that employees will gain if their shares are bought by an investor during a secondary funding round.
The Digital Personal Data Protection (DPDP) Act 2023 will be released for public review in a couple of weeks, as per official sources. The government aims to notify the rules in the current session of Parliament.
Existing investors like Peak XV Partners and Venture Highway also participated. It last raised $4.4 million in 2023 in a funding round led by Peak XV Partners' Surge scale-up programme.
“The budget will help keep the growth outlook healthy,” Singh told ET, when asked if the first full budget of the new government had done enough to boost growth, and if the bank would revise its FY25 projection. A month ago, the World Bank pushed up India’s growth forecast for the current financial year to 6.6%, from 6.4% estimated in January.
Manu Bhaker, the 22-year-old shooter who won a bronze medal on Sunday at the Paris Olympics, has been flooded with congratulatory wishes by brands that have never sponsored her or are associated with her in any manner.
The specialty chemical stock faced strong resistance around the 600 level in May 2020 and again in August 2020. However, after breaking through this level, it became a key support. The stock found support in March 2021, January 2024, and June 2024 on the weekly charts. Following the momentum, it held above the 216-week long-term moving average on the weekly charts.
Elon Musk who is the CEO of Tesla has extended his support to Donald Trump despite the former president’s views on EV vehicles. There is a reason and it is connected to Musk’s larger business success. The company has benefitted from various subsidies provided by the Government but has been impacted due to competition from within the US and increasing competition from China.
As day four at the Paris Olympics 2024 arrives, there is a lot of sporting action up on offer, with some notable events like artistic gymnastics, where Simone Biles could be seen winning a medal for team USA. Here's the important updates around the July 30 schedule at Paris Olympics and where you can watch all the action live.
Guy Ritchie's most recent television series combines thrilling action scenes and audacious stunts with a real-life WWII mission. It presents a covert operation with five courageous operators on a high-stakes assignment, bringing their exciting journey to the screen.
A teenager in Nebraska has been accused of intentionally derailing a train
Paris Olympics 2024 has become the home for record-breaking feats and achievements and Nic Fink has become yet another name in this list, after becoming the oldest ever Olympian to win a medal, here at Paris Olympics 2024. Here are some more insights into the game.