The fund house has not only excelled in the short term but has also become one of the top three to five in terms of asset under management (AUM) and folio growth over the past three years. This consistent performance has solidified Quant Mutual Fund’s position as a key player in the market.
Union minister K Rammohan Naidu announced efforts to make India a global aviation hub and start manufacturing aircraft. Speaking at the Asia Pacific Ministerial Conference on Civil Aviation, he highlighted infrastructure, integration, and innovation as key growth elements. The number of operational airports in India has grown significantly since 2014.
The Nifty Bank index closed 0.51 per cent down at 51010.0.
Aparna Yadav, step sister-in-law of Samajwadi Party chief Akhilesh Yadav, has taken charge as vice chairperson of the Uttar Pradesh state women commission. She expressed gratitude to Prime Minister Modi and the BJP for the opportunity, dismissing rumours of discontent over not receiving an assembly poll ticket.
As large auto companies get more open about their EV plans and launch more EV models, clarity is emerging even in the auto ancillary space. The auto ancillary companies which have been able to evolve to stay relevant for the EV eco system are showing better numbers. This process will take some time because some segments of the auto industry have not seen the launch of an EV product at scale. For example, in the case of two wheelers, while scooters have range, EV bikes are yet to come. But given the... Читать дальше...
NXP Semiconductors will invest over $1 billion in India to double its research and development efforts. The company, which has four semiconductor design centers in the country, aims to strengthen its presence in the automotive sector and other industries. India's semiconductor market is expected to reach $63 billion by 2026.
The Supreme Court is reviewing a 2021 verdict that ruled Directorate of Revenue Intelligence (DRI) officers are not authorized to recover duties on already cleared imported goods. The customs department argues there are errors in the judgement and seeks to establish DRI officers as proper customs officials under the Customs Act.
US Republican presidential candidate Donald Trump accused Democratic rival Kamala Harris of hating Israel and claimed that if she became president, Israel would not exist within two years. During a debate, Harris refuted the allegations, asserting her lifelong support for Israel and emphasizing the need for a ceasefire and a two-state solution.
India's consumption loan portfolio grew by 15.2% YoY to Rs 90.3 lakh crore as of March 2024, according to a CRIF High Mark report. The growth slowed from 17.4% in March 2023 due to deceleration in home loans. Personal loans and two-wheeler loans showed strong growth, while MSME lending displayed mixed results.
The Rural Development Ministry has approved the construction of roads in Madhya Pradesh, Maharashtra, and Kerala under various central schemes. The projects include 60 roads in Madhya Pradesh, 117 roads in Maharashtra, and 11 bridges in Kerala. These initiatives aim to improve rural connectivity and infrastructure across the states.
The 30-share BSE Sensex closed down 398.13 points at 81523.16
Vedanta has asked the Indian government to push Japan and South Korea to eliminate import duties on nickel sulphate used in EV batteries. Vedanta, which imports nickel ores and converts them into nickel sulphate, aims to boost exports due to low domestic demand. Nickel is critical for India's clean technology goals.
Indian benchmark equity indices ended lower on Wednesday in a highly volatile session, weighed down by auto, metal, and banking stocks.
The 30-share BSE Sensex closed down 398.13 points at 81523.16
The government has launched the Trade Connect ePlatform to provide comprehensive information on exports and imports. Developed with multiple agencies, it aims to assist both new and existing entrepreneurs by offering real-time access to trade-related data. The platform will be regularly updated and expanded to include additional services by 2025.
McDonald's is advancing towards a future with minimal human cashiers by introducing new digital ordering stations in the US. These stations, which can handle cash transactions and provide change, aim to reduce reliance on cashiers. Although human workers will remain in roles like food delivery and customer service, the new setup encourages customers to use kiosks or mobile apps, thus speeding up service and improving accuracy.
Union Minister Nitin Gadkari emphasized the need for the Indian automobile industry to focus on customer service, after-sales, and quality assurance. Speaking at the Auto Retail Conclave by FADA, he highlighted the sector's crucial role in driving economic growth and supporting the government's vision of a self-reliant India.
RBI data reveals a slowdown in bank credit to non-banking financing companies, with growth halving compared to last year. Outstanding credit exposure stood at Rs 15.3 lakh crore in July 2024. Personal loans also saw slower growth, influenced by regulatory measures and market conditions, signaling a potential moderation in overall credit offtake for FY25.
US Shutdown: US government services face disruption and federal workers may be furloughed if Congress fails to extend funding past Oct. 1. Essential services like Social Security, Medicare, and military operations would continue, but many agencies would scale back activities. National parks and scientific research could also be affected.
A TMC leader has labeled protesting doctors as 'anti-nationals' for defying a Supreme Court order to resume work. The junior doctors in West Bengal continue their protest, demanding justice for a colleague allegedly raped and murdered. They are also calling for the removal of top police and health officials.
The NSE Nifty index closed 122.65 points down at 24918.45
The Congress party has renewed its call for a Joint Parliamentary Committee investigation into the Adani Group, citing concerns about corruption, monopolization, and regulatory failures. Congress general secretary Jairam Ramesh highlighted the rapid financial turnaround of Diamond Power Infra Ltd, which was taken over by Gautam Adani's brother-in-law after its bankruptcy, and has since seen a dramatic increase in valuation and revenue.
Manipur Governor Lakshman Prasad Acharya left Imphal for Guwahati following student clashes with security forces. Manipur University has postponed all exams. Over 55 individuals were injured in the protests demanding the removal of key officials. Chief Minister N Biren Singh assured students their concerns would be addressed. Curfew and internet suspension remain in effect.
In a significant trademark infringement case, the Delhi High Court issued an injunction in favor of Amul, India’s largest dairy brand, against the Italian company Terre Primitive. Terre Primitive was found to be selling cookies and chocolate-covered biscuits under the name "Amuleti," which closely resembled Amul's trademark.
The offering includes a fresh issue of shares worth Rs 500 crore and an Offer For Sale by existing investors. The IPO opens on September 16 and closes on September 19.