Tata Power Solar Systems Ltd has partnered with ICICI Bank to offer financing options for solar units to residential and corporate customers. Loans up to Rs 90 lakh are available with collateral-free options and up to 20-year tenures for higher loans with collateral, making it easier to invest in solar energy.
Adani Power: Bangladesh owes $800 million to Adani Power Ltd. for electricity from its coal-fired plant in Jharkhand. Unpaid dues could disrupt electricity supply. The interim government is negotiating with Adani to resolve this and seeking additional IMF loans to manage economic challenges. Adani's international expansion carries significant financial and geopolitical risks.
The United Arab Emirates has accepted the credentials of an ambassador from Afghanistan's Taliban government, officials said, becoming just the second country after China to do so. "The decision to accept the credentials of the ambassador of Afghanistan reaffirms our determination to contribute to building bridges to help the people of Afghanistan."
Ideal Technoplast's SME IPO, booked over 50 times on the final day, has a price band of Rs 121 per share. The GMP is Rs 15. Proceeds will fund capital expenditures and corporate needs.
Sharad Pawar, chief of NCP (SP), highlighted the rise in atrocities against young girls and women in Maharashtra, urging the home department to be vigilant. Addressing the Badlapur incident, he emphasized the need for strict action. The opposition alliance, Maha Vikas Aghadi, has called for a Maharashtra Bandh on August 24 to protest such crimes.
Maharashtra Bandh Tomorrow: The Maha Vikas Aghadi (MVA) in Maharashtra has declared a statewide bandh on August 24 to protest against the alleged sexual assault of two minor girls in Badlapur. The bandh aims to emphasize the importance of women's safety. No official notification has been issued regarding school and college closures.
Public Sector Undertakings (PSUs) in India have seen their market capitalisation rise by 4% over 24 months, and now represent 15% of the market. Despite unchanged earnings metrics, their valuation multiples have expanded significantly. ROE is improving, and substantial capex suggests future growth.
Indian analysts have not respected liquidity so much. One year back, on 11th of September last year, midcap was called mad cap and we are speaking almost in a year.
Power demand in India is expected to grow by 15 GW annually over the next six years, a significant increase from the 11 GW per year observed in the past decade, according to Additional Secretary Power Srikant Nagulapalli. By 2030, an additional 85 GW of demand during solar hours and over 90 GW during non-solar hours is anticipated.
The Calcutta High Court has directed the SIT to transfer case-related documents against former RG Kar Hospital principal Dr. Sandeep Ghosh to the CBI. Ghosh is under investigation for financial irregularities and is also expected to undergo a polygraph test related to the rape-murder case of a doctor, scheduled for the next hearing on September 7.
Mumbai police have shut down the Telegram group BJ Tech Knowledge, which illegally streamed content from major broadcasters like Disney Star, Viacom18, Sony, and Zee. The operator, Balaji Asaram Jaybhaye, was arrested following a complaint by Disney Star. The group had 5000 users and sold URLs for Rs 300 each.
QVC Exports IPO: The SME IPO of QVC Exports was subscribed over 200 times, reflecting strong interest from retail and non-institutional investors. The issue, which closed today, had a price band of Rs 86 per share, with 50% reserved for retail investors and 50% for other investors. In the unlisted market, shares are trading with a GMP of Rs 80, indicating a 93% premium over the issue price
Neuralink, led by Elon Musk, has successfully enabled its second human recipient to design 3D objects and play Counter-Strike 2 using a brain-computer interface. The recipient, Alex, found playing such video games highly satisfying. This advancement follows the initial trials with fewer complications, revealing promising future applications for the technology.
Drishti IAS, a renowned coaching institute in Mukherjee Nagar, plans to relocate to Noida after its Delhi centre was shut by the MCD. The shutdown followed a basement flooding incident in Delhi's Old Rajender Nagar that claimed three lives. Students and other institutes are also exploring new locations due to regulatory issues.
Kolkata's Sealdah court remanded Prime accused Sanjay Roy to 14 days in a doctor's rape and murder case, causing national outrage. Roy was arrested on August 10.
Bangladesh's interim government has revoked the diplomatic passports of ousted prime minister Sheikh Hasina and all former cabinet members following her resignation amid a student-led uprising. The diplomatic privileges revocation also includes the recently dissolved Parliament members and their spouses. This move comes as Sheikh Hasina, currently in India, may face extradition under a treaty between the two countries given the serious charges against her.
India's envoy to the UN stressed the need for a comprehensive global strategy to fight terrorism, linking it to peace, security, and development. Highlighting India's role in peacebuilding, he called for structural changes in international financial institutions and advocated for better representation of Africa in the Security Council. India's significant developmental initiatives and partnerships were also showcased.
SEBI has proposed faster rights issues and flexible allotment to selective investors, aiming to streamline fundraising for listed companies. The regulator suggests reducing the timeline and intermediaries involved, making the process as simple as a preferential issue.
The reality is mutual fund is losing HNI money to complex products, that is the reality. You may want to close your eyes when the cat drinks the milk. HNIs have moved money to PMSes in spite of risk being higher, concentration being higher, taxation being higher, commissions being higher. I think the last one makes my point.
Mpox in India: Karnataka Medical Education Minister Sharan Prakash Patil assured the public that there is no need to worry about the mpox outbreak, as no cases have been detected in India. Free testing facilities are available at Victoria Hospital, and the government is prepared, with measures including screening at international airports.
Kamala Harris, Vice President of the United States, has accepted the Democratic Party's nomination for the upcoming presidential election. In her speech, Harris emphasized national unity and pledged to build a strong middle class. Harris highlighted her career and her promise to prioritize the American people over partisan interests.
McCoy Mart aims to grow its customer base to 100,000 professionals and targets a revenue of Rs 100 crore for the fiscal year 2024-2025.
Rajiv Batra from JPMorgan discusses the robust performance of Indian equity markets and the current trend of sectoral rotation among investors. He notes the shift towards private banks, IT, and FMCG stocks. Batra advises considering rural demand growth over premiumisation and long-term investments in selective PSU stocks due to government initiatives.
The Centre has sanctioned Rs 40 crore for flood-affected Tripura. Union Home Minister Amit Shah stated that multiple rescue teams and resources have been deployed to assist in relief efforts. Over 65,000 people are in relief camps, with approximately 17 lakh impacted by the flooding and landslides.