According to a recent report by the Reserve Bank of India, India has provisionally created 46.7 million jobs in the fiscal year 2023/24, bringing the total employment in the country to 643.3 million. This marks a significant growth in employment as the country's employment growth rate increased to 6% in fiscal 2024.
In the Nifty pack, 22 stocks closed in the green, while 27 stocks ended in the red.
ICICI Prudential has launched ICICI Prudential Nifty Oil & Gas ETF. NFO open till July 18. Aims to mirror Nifty Oil & Gas Index returns, managed by Nishit Patel and Priya Sridhar, benchmarked against Nifty Oil & Gas TRI.
Budget 2024: The State Bank of India (SBI) has suggested that the government should proceed with disinvestment of public sector banks (PSBs) as they are in good condition. The SBI's research report, titled 'Prelude to Union Budget 2024-25', argues for the consolidation of existing government-owned banks. The report also seeks clarity on the privatisation of IDBI Bank, which is being sold by the government and Life Insurance Corporation of India.
Attention LIC shareholders: Shareholders are advised by the Life Insurance Corporation of India (LIC) to update their Permanent Account Numbers (PANs). Dividends will be paid to members who own equity shares of the Corporation, either in physical or electronic form.
Scandron announced receiving DGCA Type Certification for its Agri-Drone model, SNDAG010QX8, supporting efforts to enhance Indian agriculture. The rotorcraft, certified for agricultural tasks, aims to improve crop yields through tasks like spraying fertilizers, crop surveillance, and livestock management. Magellanic Cloud's involvement strengthens India's drone market and supports the Make in India initiative.
M1 NXT, an international trade financing platform, has appointed Munindra Verma as its new CEO. Verma, who previously worked at YES Bank, will expand the platform's Global Financiers network and lead efforts to integrate digital technologies. Mynd Group promoter and director Sundeep Mohindru said Verma's expertise in innovative financial solutions will help establish M1 NXT as a trusted provider of international trade finance solutions for Indian businesses.
India is set to trial coking coal imports from Mongolia later this month, aiming to reduce its reliance on Australian supplies. Major steel producers like JSW Steel and SAIL will receive initial shipments, exploring alternative routes beyond Chinese ports. This strategic move addresses volatile supply issues and diversifies sources amid geopolitical tensions with China.
Baroda BNP Paribas Manufacturing Fund through its NFO has collected around Rs 1,370 crore from investors. The new fund offer or NFO was open for subscription from June 10 to June 24.
The Nifty Pharma index closed 0.63 per cent down at 20325.8.
From FY19 to FY24, India's mineral production growth has stagnated, with many major minerals seeing only single-digit growth or decline, per an SBI Research report. To unlock its mineral potential, India must overhaul its value chain—from exploration to recycling—alongside comprehensive fiscal reforms, enhancing competitiveness and fostering sustainable economic growth.
Polo forest, vadodara, saputara and other road trip destinations from ahmedabad in Gujarat.
Just before the election results were announced, some domestic and foreign brokerages came out with a report about a set of stocks which were called Modi stocks. The number varied from 50 to 55 stocks. The reason why they were called modi stocks was the fact that these stocks were from sectors which were expected to get renewed policy push once the third term of the Modi government started. This list had stocks which would power data centers, which is essentially an AI play to green energy stock... Читать дальше...
Uttar Pradesh has signed more than 150 defence manufacturing deals worth ₹25,000 crore, focusing on boosting India's defence production and exports. The projects, part of the UP Defence Industrial Corridor, will create 40,000 jobs across six districts. With notable companies like Adani Defence and BrahMos Aerospace involved, the initiative aims to propel the state's industrial value chain and support India's self-reliance in defence. Significant milestones include the delivery of AK-203 rifles and the development of a BrahMos missile plant.
Diamond Power Infrastructure announced on Monday that it has secured a Rs 409 crore order from Adani Green Energy for the supply of various LV/MV cables. The order, which includes GST, is expected to be fulfilled by December 2024. The company clarified that none of its promoters or related groups have any interest in this transaction, and it does not qualify as a related party transaction.
Tesla shareholders and CalPERS contest Richard Tornetta's $7 billion fee request overseen by Chancellor McCormick. Tornetta's win voided Musk's $56 billion pay, but Tesla argues it didn’t benefit. 1,500 letters submitted. Fee justified at 33%, references Dell Technologies case. Monday's hearing moved; billing rates start at $275/hour, with Tesla suggesting $13.6 million.
This financing is a part of Tata Realty's broader commitment to advance its sustainability efforts and elevate the standard of green commercial spaces across India.
Divis Labs, Titan Company, BPCL, Shriram Finance and Adani Ports SEZ were among the top losers on NSE in today's trade.
Faizan Sheikh, a 34-year-old mechanic, was arrested by the Madhya Pradesh Anti-Terrorism Squad (ATS) for allegedly planning lone-wolf attacks on security forces. Sheikh, influenced by the Indian Mujahideen (IM) and Islamic State (IS), was helping families of eight SIMI activists killed in a 2016 police encounter. ATS Inspector General Ashish stated that Sheikh conducted reconnaissance for attacks and was highly radicalized. The ATS recovered weapons, mobile phones, and extremist literature from him. Читать дальше...
Profit-taking, weak Asia cues drag markets lower. ITC, RIL gains were not enough to counter HDFC Bank, Titan drag. In sectoral performance, Nifty Bank, Auto, Media, Metal, Pharma, Realty, and Consumer Durables ended lower, while Nifty FMCG, IT, and Oil & Gas closed higher. Among individual stocks, PC Jeweller surged to lock in the 10% upper circuit after receiving approval from Punjab National Bank (PNB) for a one-time settlement of its outstanding dues.
The first Budget of Narendra Modi's third term will be presented on July 23, with the dates being officially announced. Finance Minister Nirmala Sitharaman is all set to table the Budget.
The Nifty Auto index closed 0.54 per cent down at 25260.5.
India's FY25 fiscal deficit target is set at 5.1% of GDP, aiming for 4.5% by FY26. Presented by Nirmala Sitharaman on July 23, it stresses job creation, MSME credit, vocational programs, food processing, public debt sustainability, land reform, rural economy, green finance, and political capital. Focus areas include services exports and the domestic food supply chain, according to Goldman Sachs.
Indian benchmark equity indices ended the day with marginal changes in a volatile market on Monday. While stocks like ITC and Infosys saw gains, losses in HDFC Bank, Titan balanced out the overall performance.
