The Ministry of Home Affairs launched an online portal to fast-track visas for technicians under Production Linked Incentive (PLI) schemes, primarily aiding Chinese vendors. This initiative aims to reduce visa processing time from 4-5 months to within 30 days, addressing delays in visa approvals critical for domestic manufacturing firms.
Union Food and Public Distribution Minister Prahlad Joshi announced that tenders for increasing grain storage capacity are awarded transparently online, a process adopted by many INDIA bloc-governed states. In the Lok Sabha, Joshi addressed concerns raised by TMC MP Sudip Bandyopadhyay about FCI godown capacity and private sector involvement. Joshi assured that storage issues were resolved, with plans for additional silo godowns through a transparent tendering process.
Sensex and Nifty traded higher on Wednesday, driven by gains in banking and IT stocks as global trend allays traders’ fears about US recession.
House purchase affordability in India's top eight property markets remained stable in the first half of 2024, according to Knight Frank India’s Affordability Index. This stability is attributed to steady interest rates since the end of 2023. Ahmedabad was the most affordable city with an Equated Monthly Instalment (EMI) to income ratio of 21% for an average household.
We already have a few projects undergoing and we will possibly win a few more projects going forward. And we are definitely looking for opportunities in distribution where we are engaged with some of the state governments of the distribution reforms that they can carry out in their state as we have done in Odisha.
The CBI searched 15 locations in Chhattisgarh over alleged nepotism in the 2022 public service commission exam. "Ineligible" relatives of politicians and officials secured lucrative government jobs. Key figures implicated include former PSC chairperson Taman Singh Sonwani and ex-secretary Jeevan Kishore Dhruv. The search targeted 16 candidates appointed to high-ranking positions.
Realisations in the poultry segment were higher from sales of day-old chicks and adult broiler birds, which are reared for consumption, the company said in an exchange filing.
The enthusiasm for Ola Electric's IPO dwindled as its grey market premium dropped. The IPO, initially seeing a premium of 18-20%, faced negative sentiments. Despite 4.26 times oversubscription and Rs 2,700 crore from anchor investors, negative trends prevailed. The company's revenues grew, yet losses escalated in fiscal 2024.
Sterlite Power won orders worth Rs 1,500 crore in the first quarter of FY25, adding to an order book of Rs 6,560 crore. This growth was driven by high-performance, green products and specialized services. The company saw a 15% QoQ increase, aligning with India's economic outlook, according to CEO Reshu Madan.
"Whether the reversal in risk asset prices will prove to be a mere bottom-picking before the sell-off continues or investors have taken the time to thoroughly assess the medium-term implications of the US job data is open for debate," said Tamas Varga of oil broker PVM.
India's Telecom Regulator, TRAI, will initiate a consultation process within a month to establish terms, conditions, and modalities for administratively allocating spectrum for satellite-based telecom services. TRAI Chairman Anil Kumar Lahoti highlighted the growth of India's satellite communications industry and its potential to advance the nation. The government has requested TRAI's input on spectrum allocation for specific satellite-based services, with a consultation paper expected by early September covering pricing and related topics.
Considering the upper price band of Rs 415, the stock is expected to list at a marginal premium of 3.62%. The weak GMP is reflective of the overall market sentiments as most analysts earlier anticipated a healthy debut for the company.
Amid ongoing political unrest in Bangladesh, the Commerce and Industry Minister, Piyush Goyal called the situation concerning and extended his wishes for D smooth transition.
Commerce Minister Piyush Goyal urged the seven BIMSTEC nations to reconsider the slow-moving free trade agreement (FTA) negotiations, suggesting a shift to a preferential trade agreement that could expedite progress. At the CII BIMSTEC Business Summit 2024, he also proposed local currency trade to address trade imbalances within the bloc.
Hasina held power for 15 consecutive years, maintaining strong relationships with both the UPA and NDA governments in India. Her sudden departure is an unexpected turn for New Delhi.
BJP MP Karan Bhushan Singh, the son of former Wrestling Federation of India (WFI) chief, expressed dissatisfaction over Vinesh Phogat's disqualification from the Paris Olympics on Wednesday, calling it a loss for the country. He indicated that the Federation would consider the situation and explore possible actions.
On the technical charts, the 200-day moving average of the stock stood at Rs 377.02.
Only about two weeks back, we won a big project in Odisha. And we expect that going forward many more projects we will be bidding very aggressively and take a pole position in transmission business too.
The UPSC will notify Puja Khedkar of her cancelled IAS candidature within two days, following a Delhi High Court hearing. The court allowed Khedkar to challenge the cancellation at the Central Administrative Tribunal and clarified that it had not judged the case's merits. The cancellation stemmed from alleged misrepresentation in her UPSC application.
A total of 1,266 shares changed hands on the counter till 02:04PM (IST).
According to sources, the diplomats and officials of the Indian High Commission continue to remain in Bangladesh, while non-essential staff and their families returned on Wednesday morning.
During the unrest in Bangladesh, false narratives on social media are inciting anti-India sentiments. Multiple fake accounts spread disinformation accusing Indian RAW officers of infiltrating Bangladesh, fueling hatred. Suvrokamal Dutta attributes this to Pakistan's ISI aiming to destabilise Bangladesh. Fact-checkers debunk the claims, emphasising the need to counter misinformation targeting Indian security agencies. Geopolitical analysts warn of the dangerous implications for regional stability and urge vigilance against divisive tactics.
Pine Labs' Setu has launched UPISetu, a UPI-focused payments platform in collaboration with Axis Bank. The platform supports diverse payment features and aims to enhance transaction success rates. Additionally, Setu introduced Sesame, a large language model designed for the BFSI sector. UPI transactions have seen substantial growth, reaching significant figures in early August.
ETMarkets reviewed Dolly Khanna's portfolio for the June quarter and observed that she held approximately 21 stocks, each with a stake exceeding 1%.
The stock quoted a 52-week high price of Rs 979.8 and a 52-week low of Rs 509.05.