Stock market update: Nifty IT index 0.49%
The Nifty IT index closed 0.49 per cent at 43188.85.
The Nifty IT index closed 0.49 per cent at 43188.85.
Mumbai International Airport (MIAL) reported a 6.3% year-on-year growth in passenger traffic, reaching 5.48 crore in 2024, up from 5.16 crore in 2023. The airport also recorded 3,46,617 air traffic movements, marking a 3.2% increase. December was the busiest month, with 50.5 lakh passengers and a 3.4% growth in arrivals and departures.
Iran and Russia are set to sign a strategic cooperation agreement without a mutual defence clause, unlike Moscow's pacts with North Korea and Belarus. Iran emphasizes its independence, security, and self-reliance. The agreement will be formalized after talks between Presidents Putin and Pezeshkian in January.
Israeli Prime Minister Netanyahu revealed a "last-minute crisis" with Hamas delaying an expected ceasefire and hostage release deal. Despite U.S. President Biden and Qatar confirming the agreement, heavy Israeli strikes continue, raising concerns about the sustained instability and humanitarian crisis in Gaza.
Prime Minister Narendra Modi will inaugurate the Bharat Mobility Global Expo on Friday, showcasing over 100 new vehicle models and technologies. The event aims to highlight sustainable advancements in the automotive sector, supporting Modi's vision to reduce carbon emissions. The expo takes place from January 17-22 across three venues in Delhi and Noida.
Waaree Renewable Technologies reported a 16.7% YoY net profit decline to ₹53.50 crore for Q3 FY24, despite a 12.4% income rise. The company announced a ₹1/share interim dividend and saw its stock drop 7.2% amid CFO resignation and market volatility.
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The Advanced Light Helicopter (ALH-Dhruv) will be absent from the Republic Day flypast due to a fleet grounding after a crash. The probe into the incident is ongoing. The Light Combat Aircraft (LCA) Tejas will also be absent. The parade will showcase 22 fighter jets, 11 transport planes, seven helicopters, and three Dornier surveillance aircraft.
LTIMindtree Q3 Results: Revenue from operations in Q3 FY25 stood at Rs 9,661 crore, a 7.1% increase from Rs 9,017 crore in the same period last year. However, profit after tax declined 13.2% sequentially to Rs 1,251 crore compared to Q2 FY25.
In the Nifty50 index, 32 stocks closed in the green, while 18 stocks ended in the red.
Ministry of Defence has signed a Rs 2,960 crore contract with Bharat Dynamics Limited for the supply of MRSAM systems to the Navy. This deal underscores the ‘Aatmanirbhar Bharat’ initiative and will create significant employment opportunities. With India focusing on defence self-reliance, the Navy has made notable strides under the ‘Make in India’ programme, achieving remarkable milestones like constructing advanced naval platforms and expanding defence exports globally.
BP will reduce its workforce by around 4,700 staff and cut 3,000 contractor positions as part of CEO Murray Auchincloss' cost-cutting plan. This follows Auchincloss' commitment to slash costs by $2 billion by 2026 to address investor concerns and after Bernard Looney's resignation. BP's workforce stands at approximately 90,000 employees.
The rally was driven by a decline in U.S. inflation in December, raising expectations of additional interest rate cuts by the Federal Reserve.
TikTok might face a potential ban in the United States if the Supreme Court appears unlikely to block a law that requires TikTok to either be divested from its China-based parent company, ByteDance, or shut down in the U.S. on Jan. 19. The law stems from concerns about the Chinese government accessing Americans' data.
In the Nifty 50 index, 32 stocks ended in the green, while 18 stocks closed in the red in today's trade.
India's apparel exports surged by 11.6 per cent to USD 11.31 billion during April-December of this fiscal year due to robust growth in markets including the US, UK, and Germany, as reported by AEPC. The positive trend signifies a strategic moment for India to enhance its global market presence and attract foreign investment.
The Indian National Congress has approached the Supreme Court to defend the Places of Worship (Special Provisions) Act, 1991, aimed at preserving the religious character of places as they existed in 1947. Multiple petitions have challenged the Act, citing violations of fundamental rights. Congress argues the Act is essential for secularism and the nation's communal harmony.
The 30-share BSE Sensex closed up 318.74 points at 77042.82
The Supreme Court of India has scheduled February 13 for the final hearing of appeals in the 2002 Godhra train burning case. The Gujarat government's appeal for the death penalty for 11 convicts, whose sentences were commuted to life imprisonment by the High Court, will also be addressed. The bench emphasized no adjournments would be permitted.
Suzuki Motor Corporation is using India as a production hub for electric vehicles. The company plans to introduce multiple electric models, including compact and affordable cars. This move aims to meet the growing demand for electric vehicles in India. Suzuki will also export these vehicles to other global markets.
Today’s NYT Mini Crossword grid, with its mix of pop culture references, science-related terms, and everyday phrases, catered to a wide audience.
The Nifty Realty index closed 0.67 per cent at 927.05.
EPF account transfer on switching jobs: The requirement for an employee to submit online transfer claims via the previous or current employer has been removed for specified cases listed below.
Indian Oil Corp (IOC) is seeking high-sulphur oil from the spot market due to expected impacts from new U.S. sanctions on Russian supplies. Indian and Chinese refiners are looking for alternatives. IOC also issued a tender for sweet crude. Spot premiums for Middle Eastern crude have surged due to strong demand.