Three major wildfires simultaneously burned across Los Angeles, including the Pacific Palisades neighborhood, destroying over 1,000 homes and businesses. A critical water shortage hampered firefighting efforts, with depleted hydrants and water tanks. The crisis highlights the urgent need for improved water infrastructure and wildfire preparedness.
President-elect Donald Trump has blamed outgoing President Joe Biden and California Governor Gavin Newsom for the disastrous wildfires affecting Los Angeles. In a series of Truth Social posts, Trump criticised their handling of the crisis, particularly the lack of firefighting resources and water supplies. With over 100,000 people evacuated and significant damage done, Trump’s statements come as both political figures respond to the ongoing emergency.
AMFI's January 2025 stock re-categorization raises large-cap threshold to Rs 1 lakh crore. Stocks like CG Power, Polycab India, Info Edge, and Hyundai Motors move to the largecap segment.
A total of 205,854 shares changed hands on the counter till 11:16AM (IST)
BRS Working President K T Rama Rao, accused of unauthorized payments for the Formula E race, appeared before the Anti-Corruption Bureau in Hyderabad. Rama Rao defended the race as part of his vision for Hyderabad's sustainable mobility future and maintained his innocence. The case alleges substantial financial misappropriation.
Borosil Renewables announced the 50% expansion in its solar glass manufacturing capacity.
L&T, ONGC, Tata Motors, Tata Steel and Shriram Finance were among the top losers on NSE.
Groww Mutual Fund has launched two passive funds based on Railways PSU: Groww Nifty India Railways PSU Index Fund and Groww Nifty India Railways PSU ETF. The NFO opens on January 16 and closes on January 30, with continuous sale starting February 13. The funds aim for long-term capital appreciation, focusing on equity in the Nifty India Railways PSU Index.
India Budget 2025: Finance Minister Nirmala Sitharaman will present the Union Budget for 2025-26 in February. The focus might be on women due to their crucial contribution to the recent electoral success of the government. The previous budget had strong initiatives for women's empowerment, including increases in funds for the ministry of women and child development.
A total of 17,686 shares changed hands on the counter till 11:11AM (IST)
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Elon Musk said on Thursday that his company SpaceX will provide free Starlink terminals to affected areas in Los Angeles in the morning.
India Inc. is bracing for mixed Q3 results, with earnings growth expected to slow. Analysts predict a 2% Nifty EPS growth for FY25, with many companies facing challenges like sluggish demand, high input costs, and weak margins. Sectors like cement, oil and gas, and consumer goods are hit hardest, while financials, technology, and real estate are expected to show modest growth.
A total of 63,427 shares changed hands on the counter till 11:06AM (IST)
The NSE Nifty index was trading 141.41 points down at 23547.55
On Thursday, Prime Minister Narendra Modi virtually flagged off the Pravasi Bharatiya Express, a special tourist train aimed at connecting India's diaspora with its cultural and religious heritage. The train, which began its three-week journey from Nizamuddin railway station in Delhi, will visit several key destinations of tourism and religious significance across the country.
Income tax slab expectations: EY has released a press release urging the government to announce certain measures in Budget 2025 to boost consumption and accelerate India's growth. Some of these measures are hiking the basic exemption limit to Rs 5 lakh in the new tax regime, sorting out anomalies in the new capital gains tax regime, etc.
Japanese VC firm Enrission India Capital and existing investors Faad Network and Nab Ventures also participated in the funding round. The funds will be used to expand into new markets, drive product innovation, and enhance supply chain infrastructure.
Manufacturing Industry Budget 2025: India's ambition to emerge as a global manufacturing powerhouse has spotlighted diverse sectors, including medicinal plants, handicrafts, leather and footwear, gems and jewelry, and even the space industry. At the same time, the implementation of the four labor codes across states plays a pivotal role in boosting the industry's competitiveness and drawing investments.
Nomura has downgraded Shree Cement from ‘Buy’ to ‘Neutral,’ setting a target price of Rs 28,000. Additionally, the firm has downgraded ACC and Nuvoco from ‘Neutral’ to ‘Reduce,’ with target prices of Rs 1,920 and Rs 330, respectively.
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The stock traded at a P/E multiple of 78.69, while the price-to-book value ratio stood at 18.24.
During his visit to Andhra Pradesh, Prime Minister Narendra Modi emphasized the Centre's commitment to making the state a hub for futuristic technologies, such as green hydrogen. He announced a green hydrogen project in Visakhapatnam and discussed plans to boost industrial growth, infrastructure, and urbanization.
A total of 171,916 shares changed hands on the counter till 10:51AM (IST).