Officials announced that after the monsoon season, Himachal Pradesh, Uttarakhand, Sikkim, Arunachal Pradesh, and the Union Territory of Jammu and Kashmir will launch ground surveys to assess the vulnerability of glacial lakes, prompted by a glacial lake outburst flood (GLOF) in Sikkim in October 2023. The surveys, targeting select lakes at high altitudes, aim to understand and mitigate risks associated with GLOFs, which can cause significant damage downstream. Remote sensing data indicates notable expansion of many Himalayan glacial lakes... Читать дальше...
Nifty's upward momentum is expected to continue after surpassing the key resistance level of 24,400. According to Nagaraj Shetti of HDFC Securities, the index could reach 24,960 in the near term, with immediate support at 24,250.
Startup funding overall grew 16% sequentially to touch $79 billion in the last quarter, primarily driven by investments in AI, which became the largest sector for the first time, followed by healthcare and biotech. Outside of AI, cybersecurity company Wiz raised a billion-dollar in its latest funding round.
Indian market bounced back to hit fresh record highs on Tuesday tracking positive global cues. The S&P BSE Sensex hit a high of 80,397 while the Nifty50 hit a lifetime high of 24,443. Sectorally, buying was seen in healthcare, FMCG, realty, consumer durables and auto while selling was seen in energy, CPSE, telecom and oil & gas stocks.
The Ministry of Education reviewed NCERT guidelines for implementing bagless days in schools, aiming to make learning more experiential and stress-free. Suggestions include teaching students about local ecology, testing water purity, and visiting local monuments. The PSSCIVE will fine-tune its guidelines based on the review. The National Education Policy recommends a 10-day bagless period for grades 6-8, focusing on skill-building and engaging activities outside traditional classrooms.
Stocks owned for a longer period are often sold either to book profit or to exit it in anticipation of impending bearishness. This is termed as long unwinding.
Motilal Oswal and Kotak Mahindra differ in their Q2 earnings projections for the Nifty universe. While Kotak forecasts a nearly flat growth of 0.6%, Motilal Oswal projects a 4% increase in net profits. Both firms predict stronger growth when excluding global commodities. Motilal Oswal anticipates a 10% YoY increase for the Nifty excluding oil & gas and metals, while Kotak forecasts a 9.3% rise excluding oil marketing companies.
The government is considering relaxing the 45-day payment requirement to MSMEs to prevent large corporations from seeking other sourcing options. This potential change to Section 43B(h) of the Income Tax Act might be announced in the upcoming Budget on July 23. Last year's Budget introduced this clause to ensure timely payments to MSMEs, penalizing larger companies for delays by disallowing tax deductions on unpaid expenses.
BRS working president K T Rama Rao criticised Rahul Gandhi for "Oscar-level acting on protecting the Constitution" after several leaders defected to Congress. BRS plans legal action against defectors, including filing a petition in the Supreme Court. KTR called out Congress for violating constitutional principles despite promising electoral reforms.
Five stocks experienced significant short covering during the trading session on Tuesday. Short covering occurs when investors buy shares to close existing short positions, indicating a shift from bearish to bullish sentiment.
Kesoram Industries, a B K Birla group firm, reaffirms commitment to loss-making subsidiary Cygnet Industries Ltd, with plans to engage Futamura as strategic investor post cement business demerger. AGM attended by shareholders and schoolgirls, missing Manjushree Khaitan, chaired by Satish Narain Jajoo. CFO reveals fund infusion of Rs 45-60 crore needed for Cygnet to boost turnover to Rs 1,000 crore, focusing on innovative packaging products like biodegradable cellulose transparent paper.
India's food services sector is projected to grow from Rs 5.7 lakh crore to Rs 7.76 lakh crore by 2028, according to the National Restaurant Association of India's (NRAI) India Food Services Report 2024. This represents a CAGR of 8.1%, surpassing the RBI's GDP growth forecasts. The sector, currently the third largest industry after retail and insurance, is expected to employ one crore people by 2028, up from 85.5 lakh.
Dharamsala, perched amidst the Dhauladhar ranges, is home to the Dalai Lama and the Tibetan government-in-exile.
India's T20 World Cup-winning captain Rohit Sharma penned an emotional farewell note to former head coach Rahul Dravid, praising his man-management skills and humility. Dravid stepped down after India's T20 World Cup victory, with Rohit highlighting their close bond and Dravid's impact on the team's success. Both expressed mutual respect and admiration for each other, with Rohit acknowledging Dravid's influence on his career and personal growth.
Scientists from the Chinese Academy of Sciences have identified a highly resilient desert moss species, Syntrichia Caninervis, in Xinjiang, western China.
The Reserve Bank of India's FI-Index, which measures financial inclusion nationwide, rose to 64.2 in March 2024 from 60.1 in March 2023. This index reflects growth across all key parameters of financial inclusion. The index provides a single value ranging between 0 and 100, where 0 represents complete financial exclusion and 100 indicates full financial inclusion.
The Nifty IT index closed 0.2 per cent down at 37668.65.
Mumbai police have arrested Mihir Shah, the main accused in the Worli hit-and-run case, from Shahpur on the outskirts of Mumbai. Shah, 24, fled the scene after crashing his speeding BMW into a scooter early Sunday morning, killing Kaveri Nakhwa and injuring her husband, Pradeep. After the incident, Mihir's father, Rajesh Shah, and their family driver, Rajrishi Bisawat, were also arrested. Rajesh Shah allegedly advised his son to switch seats with the driver and discard evidence to avoid charges.
Cognizant’s CFO Jatin Dalal settled a non-compete lawsuit with Wipro for $505,087, covering legal fees, per SEC filing. Wipro cited confidentiality and compensation breaches after Dalal left in November 2023 and joined Cognizant on December 1. The Cognizant Human Capital Committee approved the payment. A similar lawsuit with Mohammad Haque was settled. The settlement terms remain confidential.
India is investing $1 billion in 12 hydropower stations in Arunachal Pradesh to support the region's infrastructure. The move may impact relations with China due to territorial disputes. Both countries are focusing on improving border infrastructure after recent clashes. Stay informed for further updates.
In the Nifty pack, 33 stocks closed in the green, while 17 stocks ended in the red.
