The domestic markets closed slightly higher as Nifty surpassed the 25,000 milestone, amid a consolidation phase. The Nifty futures indicated a negative opening. Global markets showed mixed trends, and oil prices saw a minor rise. Several stocks entered the F&O ban, and multiple companies were due for Q1 results announcements.
Heavy rains caused significant route damage in Uttarakhand's Rudraprayag district, leading to major rescue efforts. The police, SDRF, and NDRF rescued 737 people by helicopter and 2,670 by other means. The Kedarnath Yatra was suspended for two days. Uttarakhand's Chief Minister conducted a ground inspection of the affected areas.
Sensex reached a new peak, closing 126 points higher, and Nifty crossed the 25,000 mark for the first time. Titan, Hindustan Zinc, ITC, Tata Motors, Zomato, Adani Enterprises, and SpiceJet shared their quarterly results. ITC reported a small rise, while Tata Motors and Adani Enterprises showed significant profit growth. SpiceJet canceled flights due to operational reasons.
Japanese stocks dropped for a second day amid growing expectations of further rate hikes by the central bank. Asian equities also declined, following Wall Street's losses due to weakening US economic data. The broad Topix index in Japan dropped more than 4%, while tech stocks like AI chipmaker SK Hynix fell sharply.
The United States called for accountability from India over an alleged assassination attempt on a US citizen by an Indian government employee last summer. Washington continues to raise concerns with Indian officials. Indian national Nikhil Gupta was charged in connection with the failed plot to kill Gurpatwant Singh Pannun in New York and extradited in June.
In a post on X, Rahul Gandhi said, "Apparently, 2 in 1 didn't like my Chakravyuh speech. ED 'insiders' tell me a raid is being planned. Waiting with open arms, @dir_ed. Chai and biscuits on me."
Viacom18 and Star India plan to finalize their merger by October after securing approval from the Competition Commission of India (CCI). Already sanctioned by creditors and shareholders, CCI's detailed market assessment will determine the merger's competitive impact. The combined entity will dominate both TV and streaming, holding substantial sports rights.
In the last two years, probably each segment of the financial services have gone through a scrutiny by the RBI. Yes, it did create short term headwinds for many segments as there was some bit of the tightening and of course the episode in which companies were banned also happened. But three simple questions, is a sector like financial services better placed after the clean up by RBI. Second, if an economy like India is growing, can it happen that this sector does not does not grow? Third, probably... Читать дальше...
The Reserve Bank of India has agreed to Tata Sons' restructuring plan, which exempts the holding company from mandatory stock exchange listing. Tata Sons has restructured to be a zero-debt entity, complying with RBI's regulations, and avoiding classification as an 'upper layer' non-bank finance company, potentially removing the need for listing by 2025.
After twelve consecutive quarters of growth, the cumulative workforce of five leading pure-play ER&D companies fell to 77,560 by June, highlighting the industry's cyclical nature compared to technology outsourcing, which is now starting to create jobs and improve campus placements.
All eyes are on the Olympic Games underway in Paris since last Friday. The IOC has called AI a ‘game changer in sport’. How is AI being used at the Olympics? ET explains.
India Inc had requested a phased transition to the new long-term capital gains tax regime proposed in FY25's budget, which eliminates indexation benefits for assets like property and gold. They suggested alternatives, including a higher tax rate with indexation or a lower rate without. The finance ministry is reviewing these proposals.
The Karnataka government withdrew a hefty ₹32,000 crore tax notice against Infosys, but the investigation continues under the Directorate General of GST Intelligence. The case, involving alleged IGST evasion, highlights issues within the GST enforcement mechanism's interpretation of the IT sector. Similar notices are anticipated for other IT companies in Bengaluru, Hyderabad, and Delhi-NCR.
After reaching a peak of Rs 710 on December 12th, 2023, HDFC Life stock experienced a 200-point range fluctuation. However, it found support above Rs 500 on June 4th, 2024. Following this, the stock rebounded sharply from a low of Rs 511 on June 4th, reclaiming key moving averages and signalling a positive trend for investors. The Supertrend indicator confirmed this bullish momentum with a buy signal on June 13th, propelling the stock to a remarkable 20% rally within a month.
Olympic Village is currently in the headlines but not for its accommodations but not because of its high-standard facilities. There are reports of food quality being rated as dismal by the Olympic athletes, except for one particular food item that has been in demand for the past few days since the Olympics began.
Bletchley Park will see the digital rebirth of Alan Turing, an important figure in artificial intelligence. Visitors will be able to interact with a virtual representation of Turing through an interactive project, which displays his accomplishments and legacy throughout history.
Yusuf Dikec, a Turkish shooter, is currently a social media sensation after his antics at the Paris Olympics 2024 in a shooting event that earned him a silver medal. Dikec did not even wear the gears that were expected in a shooting event and still managed to beat almost all his opponents to secure a medal position.
The gasoline cars often focus on superficial enhancements like sound systems and wheel designs in their mid-life upgrades. But in EV upgrades core technological improvements are made. This trend is driven by several factors.
My Hero Academia Chapter 430, releasing on August 4, 2024, marks the series' end. It follows Deku’s new role as a teacher, updates on Class 1-A, and introduces Dai, a new hero. Deku becomes a Pro Hero with the support of his friends.