Signs of life in Venus planet? A research paper has found elements that are linked to life.
Brainbees Solution, known for its FirstCry brand, declared a price band of Rs 440-465 for its Rs 4,194 crore IPO, open from August 6-8. The IPO includes a fresh issue of Rs 1,666 crore and an offer for sale worth Rs 2,528 crore. Funds will support new stores, subsidiary investments, overseas expansion, and marketing.
China's manufacturing activity declined in July for the first time in nine months, according to a Caixin/S&P Global survey. The PMI fell to 49.8, below expectations. The decline in new orders led to the slowdown, attributed to weak demand and client budget cuts, despite recent efforts to stimulate consumption.
Rafael Nadal and Carlos Alcaraz were eliminated in the men's doubles quarterfinals at the Paris Games, losing 6-2 6-4 to the fourth-seeded American duo of Austin Krajicek and Rajeev Ram. The match took place at Court Philippe Chatrier, where Nadal has won his record 14 French Open titles and 22 Grand Slam trophies. The full house roared and sang to support Nadal and Alcaraz, especially as they tried to stave off defeat in the final game.
Maruti Suzuki Ltd. reported a 47% rise in net profit for Q1 FY25, reaching Rs 3,650 crore due to increased SUV sales and cost-saving measures. The company aims to launch one electric vehicle each year, starting in 2025. CNG vehicle sales climbed, overtaking diesel for the first time during this quarter, reflecting strong market demand.
Gold prices reached a two-week high following indications from U.S. Federal Reserve Chair Jerome Powell of possible interest rate cuts by September. Spot gold stood at $2,448.38 per ounce. Attention is on the forthcoming U.S. payroll report which may influence gold prices as the week concludes.
The BSE Sensex rose by nearly 286 points, achieving a record high, while Nifty remained above 24,950. Godrej Properties, Ambuja Cements, and Indus Towers were key stocks, showing various changes in their prices. Expert Riyank Arora provided stock recommendations based on existing chart patterns and trading volumes.
Vietnamese Prime Minister Pham Minh Chinh called for stronger economic cooperation with India, aiming for $20 billion in bilateral trade. Speaking in New Delhi, he highlighted opportunities in infrastructure, pharmaceuticals, and digital technology. Chinh invited Indian businesses to invest in Vietnam, focusing on strategic sectors and integrating Vietnamese companies into their supply chains.
India's HS Prannoy will face Lakshya Sen in the Round of 16 of the men's singles event after defeating Vietnam's Le Duc Phat in the final group game of the Paris Olympics. Prannoy started poorly, but managed to recover in the second game. In the third game, Prannoy maintained a lead, but Phat continued to push him down.
Indian table tennis player Sreeja Akula lost to world number one Yingsha Sun in the pre-quarterfinals of the women's singles competition at the Paris Olympics. She became the second Indian player to reach the round of 16 at the Olympics, following Manika Batra's 1-4 defeat to Japanese Miu Hirano.
Indian banks transferred $2.5 trillion, or 80% of GDP, through smartphones. However, the RBI is now raising liquidity requirements for mobile-linked deposits, drawing a parallel to the SVB failure. This move aims to ensure banks' stability but could affect credit growth and net interest margins.