Benchmark equity index Nifty50 hit a record peak of 25,129.6 on Wednesday, slightly closing higher than the previous day, driven by gains in IT stocks. Sensex closed at 81,785, gaining 74 points. LTIMindtree, Wipro, Divi's Labs, Bharti Airtel, and Infosys were top gainers, while Maruti Suzuki and Asian Paints lagged.
Sebi highlighted that certain corporate actions can artificially boost investor sentiment, leading to increased stock purchases. This, in turn, allows promoters to sell their shares at inflated prices. The regulator cautioned investors against relying on unverified social media posts and rumours when investing in SME stocks. Instead, investors should exercise caution and be mindful of such market manipulation patterns.
Kevan Parekh has been named the new Chief Financial Officer of Apple Inc., effective January 1, 2025. Having joined Apple in 2013, Parekh has progressed through various leadership roles. His promotion follows Luca Maestri, the current CFO. Tim Cook praised Parekh's financial acumen and understanding of Apple’s operations.
The Nifty50 closed higher after hitting a record 25,129.6, led by IT stocks. Here are the stocks that witnessed maximum movement in today’s session.
The Union Cabinet has approved two new railway lines and one multi-tracking project worth Rs 6,456 crores, spanning Odisha, Jharkhand, West Bengal, and Chhattisgarh. These projects will boost logistical efficiency, increase freight traffic by 45 MTPA, and provide improved connectivity to around 30 lakh people in 1,300 villages.
Foreign banks from Japan and the Middle East are eyeing majority stakes in India's Yes Bank and IDBI Bank, as existing investors look to divest. Yes Bank has attracted interest from Sumitomo Mitsui Banking Corp and Emirates NBD, while IDBI Bank has seen interest from Fairfax Group and Kotak Mahindra Bank.
Apple has signed a content deal with Indian telecom operator Bharti Airtel to capture a larger share of India's $28 billion entertainment market. Leading streaming platforms in India include Disney+Hotstar with a 26% market share, Amazon Prime Video with 23%, Netflix with 13%, ZEE5 with 11%, JioCinema with 7%, and Sony LIV with 4%.
In a surprising move, a bulldozer demolished parts of the Kotwali police station's wall in Uttar Pradesh’s Siddharthanagar district. This incident was part of a drive to reclaim government land for road expansion. Officials faced resistance from the stationed police but emphasized that no illegal structure, including police buildings, would be spared.
Ned vs US Playing 11: The United States and Netherlands are set to face off in the final league stage match of the T20I Tri-Series on August 28 at Sportpark Duivesteijn, Voorburg. The match starts at 5:30 PM IST and will be streamed live on Fancode. Both teams promise a high-intensity game with key players expected to make impact performances.
The Union Cabinet led by PM Modi has approved the development of 12 Industrial Smart Cities under the National Industrial Corridor Development Programme. The cabinet also allowed expansion of the Agricultural Infrastructure Fund, announced three new railway projects, and granted equity support for hydropower development in northeastern states, aimed at boosting infrastructure and employment opportunities.
While the currency touched an intraday low of 83.9675, it managed to hold above its all-time low, underpinned by "intermittent offers (on USD/INR)" by state-run banks, a senior trader at a foreign bank said.
On Wednesday, the Union Cabinet, led by Prime Minister Narendra Modi, approved Rs 4,136 crore in equity support for hydropower development in northeast India. The scheme, running from FY 2024-25 to FY 2031-32, aims to support around 15,000 MW of hydro capacity. Funding will come from a 10% Gross Budgetary Support for the North Eastern Region.
Sundaram Alternate Assets projects a 14% CAGR for Indian family offices and a 5% rise in alternative investments over three years. Family offices are increasingly shifting towards AIFs and startups.
BSE shares surged 5% to Rs 2,834.80 after NSE resumed its much delayed public offering. Despite BSE's Q1 revenue soaring 181% YoY, net profit dropped 40%. Over the past year, BSE stock has risen 207%, with a recent 3% increase.
Gunther VI, a German Shepherd, is the world's richest dog with a net worth of $400 million. Inherited from his ancestor, Gunther VI lives a lavish life, owning properties, sports teams, and even a music group
The journey to growth looks very-very promising and we are pretty excited for the next 5 years, 10 years. As we all know we continue to see a lot of growth in the SIPs, literally the SIP volumes have gone up almost 40% in the last year or so, we are seeing a lot of lump sum flows also ex of SIPs.
President Droupadi Murmu calls for India to address the 'perversion' of crimes against women, citing the recent Kolkata hospital incident. She emphasizes changing the mindset that sees women as lesser beings, and stresses the need for both state and society to counter this issue and ensure safety for women.
The Union Cabinet has approved 12 new industrial smart cities under the National Industrial Corridor Development Programme, investing Rs 28,602 crore to boost domestic manufacturing and economic development. These projects will bring the total number of industrial cities in India to 20, including the eight currently in progress.
The Union Cabinet, led by Prime Minister Narendra Modi, has approved the expansion of the Agricultural Infrastructure Fund (AIF). The initiative aims to bolster agricultural infrastructure, support viable community farming assets, include integrated processing projects, align with PM-KUSUM Component-A, and extend credit guarantee for FPOs through NABSanrakshan Trustee Company Pvt. Ltd.
Motilal Oswal Asset Management Company has announced its assets under management (AUM) have surpassed Rs 1 lakh crore as of August 26, 2024. This milestone reflects the company’s robust growth strategy and product innovation. The company credits its success to strong fund performance, strategic partnerships, and a diverse range of investment products.
The Nifty 50 bounced back from a subdued start to reach all-time highs on Wednesday, fueled by gains in IT stocks. Six Nifty 50 stocks hit new 52-week highs, underscoring robust performances across multiple sectors.
The CBI has initiated a polygraph test on Kolkata Police ASI Anup Dutta to investigate his alleged connections with Sanjay Roy, accused in the rape and murder of a trainee doctor at RG Kar Medical College. This follows permission from a Kolkata court and Dutta's prior questioning by the agency.
On Wednesday, the Union Cabinet approved three railway projects valued at Rs 6,456 crore. These projects, spanning Odisha, Jharkhand, West Bengal, and Chhattisgarh, will expand the Indian Railways network by approximately 300 kilometers. They include the construction of 14 new stations and will improve connectivity for about 1,300 villages and over 30 lakh people.