ICICI Bank is promoting a strong compliance culture to balance risk and rewards, according to CEO Sandeep Bakhshi's annual address to shareholders. The bank is also enhancing its digital capabilities and operational resilience. Bakhshi emphasizes prudent growth, high governance standards, and leveraging digital technologies to support India's economic transformation.
Congress general secretary Priyanka Gandhi did not attend Ambani's wedding and was not in the country at the time, as clarified by Supriya Shrinate. BJP MP Nishikant Dubey had falsely claimed her attendance during a Lok Sabha debate. Sonia Gandhi and Rahul Gandhi were also absent from the event.
Since Microsoft-backed OpenAI unveiled in February its text-to-video model Sora, which is not open for public use yet, Chinese companies have rapidly developed similar tools, with several launching models accessible to users.
The Nifty Pharma index closed 0.09 per cent down at 21562.55.
India's Reserve Bank's Monetary Policy Committee (MPC) began deliberations, likely to maintain the repo rate at 6.5% due to inflation concerns and steady economic growth. Experts anticipate no rate cuts, despite recent retail inflation rise and high food prices. The MPC's decision will be announced Thursday.
Mahila Samman Savings Certificate is a one-time, new small savings initiative for women beneficiaries. The scheme is accessible for investment until March 2025, with a two-year term.
The Congress has accused the government of economic mismanagement as the rupee fell to a record low of 84.09 against the US dollar. Factors include global market sell-offs and geopolitical tensions. Congress' Pawan Khera criticized the government for failing to retain investor confidence and stabilize the markets, exacerbating the rupee's decline.
In the Nifty pack, 19 stocks closed in the green, while 31 stocks ended in the red.
The S&P BSE Sensex closed at 78,593 while the Nifty50 settled at 23,992 on Tuesday. Sectorally, buying was seen in FMCG, IT and realty stocks while consumer durables, telecom, banks and PSU stocks saw selling pressure.
The Nifty Realty index closed 0.84 per cent up at 1000.6.
The average price of toned milk increased to Rs 51.83 per litre last year, up from Rs 39 in 2018-19. Minister Rajiv Ranjan Singh mentioned that milk prices are set by dairies considering their costs and market dynamics. Several government schemes are available to aid dairy farmers and enhance dairy infrastructure.
TBO stands out as one of the few established internet companies with a history of robust and consistent profitable growth, and exceptionally high return ratios. It achieved a GTV CAGR of 25% from FY17 to FY24 and has been profitable since FY16, with a PAT exceeding Rs 200 crore in FY24. Notably, this growth was fueled by strong internal accruals, with only Rs 60 crore raised from external funds pre-IPO.
Retail inflation for industrial workers dropped to 3.67% in June from 3.86% in May, driven by lower food prices. Compared to the previous year, June's inflation rate was lower at 3.67% in 2024, down from 5.57% in 2023. The CPI-IW for June 2024 increased to 141.4 points from May's 139.9 points.
The Nifty Auto index closed 0.75 per cent down at 24520.05.
Gold and silver have shown resilience, closing higher last week despite some late-week profit-taking driven by a weaker jobs report. The precious metals benefited from geopolitical tensions in the Middle East, heightened risk aversion, and dovish Federal Reserve expectations.
The 30-share BSE Sensex closed down 166.33 points at 78593.07
Three things determine how bad any recession will be: what the economic conditions were going in, what caused it, and what the policy response is. It’s worth taking each in turn.
Neeraj Chopra Olympics Match: Neeraj Chopra advanced to the men's javelin final at the Olympics with a throw of 89.34m, surpassing the automatic qualifying mark of 84m. Despite his fitness concerns, Chopra took the top spot in Group B. Indian competitor Kishore Jena and others like Arshad Nadeem also featured in action.
Neeraj Chopra, the reigning champion, advanced to the men's javelin throw final at the Paris Olympics with an impressive throw of 89.34m. Despite concerns about an adductor niggle, Chopra's performance in the qualification round secured his place in the final, scheduled for August 8. The event will be broadcast live on various Sports18 channels and available for live streaming on the JioCinema app and website.
The NSE Nifty index closed 63.05 points down at 23992.55
India exported non-basmati white rice valued at USD 122.7 million during April-May this fiscal year. Despite a present ban, exports continue to specific countries for food security. The government keeps a close watch on production and availability. Fisheries subsidies will remain unaffected by WTO fisheries subsidies agreement.
Union Minister Ravneet Singh Bittu expressed concern over attacks on Sikh shrines and Hindu temples in Bangladesh. He urged External Affairs Minister S Jaishankar to address the issue with Army authorities or the interim government. Bittu emphasised the safety of the Sikh community in Bangladesh, highlighting the historical significance of Gurdwara Nanak Shahi and Gurdwara Sangat Tola in Dhaka. He urged Jaishankar to ensure protection of these religious sites for the Sikh and Hindu communities in Bangladesh.
Digital gold is a unique offering that allows customers to invest in a traditional asset class in a modern and innovative format. Good returns and no-theft risk were among reasons for buying digital gold whereas uncertainties about investment processes deterred people from going for the option, a recent study conducted by Navi shows.
A total of 7,083 ECIRs or Enforcement Case Information Reports have been filed by the agency till July 31, minister of state for finance Pankaj Chaudhary said in a written reply to a question asked in the Rajya Sabha. "The rate of conviction obtained under PMLA is around ninety-three per cent," he said.