The Reserve Bank of India fined IndusInd Bank for violating deposit interest rate rules. The bank faced a regulatory inspection. IndusInd Bank's shares have dropped 42% this year. The bank's recent quarter saw profit decline. Analysts predict improvement in coming quarters. Anand Rathi forecasts growth and sets a target price of Rs 1,496.
The UAE braces for unsettled weather. Low-pressure systems and cold air are converging. Clouds will gather, bringing rain to coastal areas, islands, and northern and eastern regions. Winds will shift, potentially stirring dust and sand. Seas will be rough, especially in the Arabian Gulf and Oman Sea. Residents are advised to stay updated on weather forecasts.
The consortium will bring together the heft of some of Silicon Valley's most valuable companies and will leverage their products to provide a more efficient way of supplying the U.S. government with cutting-edge defence and weapons capabilities, the Financial Times reported.
Assam and West Bengal police arrested two suspected Jamaat-ul-Mujahideen Bangladesh terrorists in Murshidabad. A suspected Tehreek-ul-Mujahideen member, Javed Munshi, was arrested in Canning. Munshi allegedly aimed to revive the Muslim League. He reportedly planned to flee to Bangladesh. Police seized a book, CD, and documents. Munshi has a history of terror-related activities.
These stocks' 50-day SMA crossed below their 200-day SMAs on December 20
The Governor-General's XI will face England in a thrilling 50-over cricket match. Alyssa Healy returns from injury. Nicole Faltum will captain the team. Charli Knott is vice-captain. The match is a warm-up for the Ashes Series. It showcases Australia's rising stars. Catch the action live on Foxtel and Kayo Sports.
Ashoka Buildcon signed an agreement with the Bihar government. The company will invest Rs 9,000 crore. This investment will create a green hydrogen plant. The plant will include a 1,250 MW solar project. The project's first phase will be in Begusarai. The first phase will take 1.5 to 2 years to complete.
A woman was set ablaze and killed aboard an F train at the Coney Island-Stillwell Avenue station in a shocking act described by Police Commissioner Jessica Tisch as “one of the most depraved crimes one person could possibly commit.” Authorities apprehended the suspect shortly after the attack, thanks to vigilant citizens. The incident, coupled with rising subway crime, has left New Yorkers shaken and reignited concerns about transit safety and public policy.
Identical Brains Studios' ₹20 crore IPO, subscribed over 500 times, is set for NSE SME debut on December 26. Allotment status can be checked on NSE and Bigshare Services websites. Grey market price hints at a strong listing, with funds earmarked for expansion and working capital. The company, a VFX studio, anticipates industry growth amidst a booming market.
Vedanta set December 24 as the record date for an Rs 8.5 per-share interim dividend. This marks the company's fourth interim dividend for FY25, totaling Rs 3,324 crore and bringing the fiscal year's total payout to Rs 16,798 crore. Investors must hold shares by December 24 to be eligible.
On Saturday, Albanian Prime Minister Edi Rama announced Albania was shutting down TikTok from early 2025. In a statement released within hours, a TikTok spokesman said: "We are seeking urgent clarity from the Albanian government." The decision to block the social network came less than a month after a 14-year-old was killed and another injured in a fight near a school in Tirana.
Zomato will replace JSW Steel in the BSE Sensex on December 23, becoming the first new-age tech company to join the index. This move is projected to bring $513 million into Zomato. Zomato's stock has surged significantly in the past year, outperforming the Sensex. The company's improved financials and successful relaunch of Zomato Gold contributed to its growth.
Unimech Aerospace IPO GMP: Unimech Aerospace's Rs 500 crore IPO opens today, closing on December 26. Priced at Rs 745-785 per share, the IPO combines fresh equity and an offer for sale. Proceeds will fund expansion, with a GMP of Rs 480 indicating strong investor interest. Analysts recommend subscribing, citing growth potential in aerospace and other sectors.
Delhi’s tableau has been excluded from the Republic Day parade for the fourth consecutive year, sparking a heated exchange between AAP and BJP leaders. Chief Minister Arvind Kejriwal criticised the BJP for allegedly sidelining Delhi and its citizens, while the BJP accused Kejriwal of politicising the issue. The Defence Ministry clarified that an expert panel evaluates proposals and a new three-year roster aims to ensure equal representation for all States and Union Territories.
Authorities apprehended three Bangladeshi individuals at Agartala Railway Station. They were attempting to enter India illegally. The suspects aimed to travel to another state, possibly Kolkata. A joint operation involving GRP, RPF, BSF, and intelligence agencies led to the arrests. Further investigation is underway, with more arrests expected. The suspects will appear in court on Monday.
Six Osmania University Joint Action Committee members were arrested for vandalizing actor Allu Arjun's home following the Sandhya Theatre Tragedy. Protestors threw tomatoes, damaged property, and clashed with security. The incident follows public disagreements between Arjun and the government regarding the tragedy where a woman died during a crowd surge at the 'Pushpa 2' premiere.
Stocks to Buy: The Nifty index saw a sharp drop on Friday, with stocks like Angel One and HPCL declining. Analyst Pravesh Gour suggests Angel One could find support at 2800, while HPCL needs a breakout above 420. Anant Raj, near its all-time high, shows strength and may target 1000.
Delhi's air quality plunges to a 'severe' AQI of 409, dominated by hazardous PM2.5 pollution. Stage IV of GRAP remains in effect, restricting construction and truck entry. Light rain is forecasted, offering potential relief but also a risk of increased humidity exacerbating pollution. Temperatures are expected between 8°C and 20°C.
The US stock market is predicted to rise further in 2025. A strong economy, falling interest rates, and growth-focused policies are expected to drive gains. However, high inflation and stock valuations pose challenges. Experts predict around 10% growth. The current bull market is historically short, suggesting further upside potential. Economic indicators are positive, but policy uncertainty and inflation remain concerns.
President-elect Donald Trump has appointed Indian-origin entrepreneur Sriram Krishnan as Senior Policy Advisor for Artificial Intelligence. Krishnan, a former Twitter and Microsoft employee, will work alongside David Sacks to maintain America's leading position in AI and shape national AI policy. Expressing gratitude, Krishnan affirmed his commitment to serving the country and ensuring continued American AI leadership.
Jeff Bezos has debunked reports claiming a $600 million Aspen wedding to fiancée Lauren Sánchez, calling the rumours "completely false." The couple, engaged since May 2023, has not finalised their wedding plans despite ongoing speculation. Sánchez also denied the reports, stating they were "not true." The false claims included a luxury venue and extravagant celebrations, which Bezos criticised as misleading and unfounded.
Oil prices saw a slight uptick following positive U.S. inflation data, sparking hopes of relaxed monetary policies and boosted demand. Brent crude edged up to $73.20 a barrel, while WTI reached $69.77. This rebound followed a previous dip due to global economic concerns. Meanwhile, the Druzhba pipeline, supplying oil to parts of Europe, resumed operations after a brief technical disruption.
Gold prices held steady following Friday's gains driven by a weaker dollar and Treasury yields. Slowing U.S. inflation contributed to the rise. Fed officials hinted at potential rate cuts next year. Demand in India remained subdued due to price volatility.
Happy Monday! Indian risk investors registered bigger exits in 2024 compared to a year before.This and more in today’s ETtech Morning Dispatch.
Delhi BJP leaders criticized Arvind Kejriwal's governance, citing alleged inaction on women's safety, infrastructure issues, and corruption. They questioned his motives for raising concerns about Delhi's exclusion from the Republic Day parade tableau, highlighting his past protests and alleged mismanagement.