After concluding his visit, PM Modi shared a post on X and thanked Austria's Chancellor, government, and people for their warm welcome and hospitality.
Some old horses are coming back into action.
Tata Play has expanded its global reach by partnering with Akash Digital TV in Bangladesh to offer its white label solution, Tata Play Binge. This collaboration allows Akash Digital TV to utilise Tata Play's Cloud technology, simplifying content access for OTT aggregators. Tata Play aims to enhance its platform internationally and generate revenue by providing end-to-end development opportunities for OTT aggregators worldwide.
Indian companies have raised a record $29.5 billion in the equity market through IPOs & FPOs in the first half of 2024, more than double the amount raised last year. Follow-on public offers accounted for 85% of the total proceeds. Analysts anticipate a potential record year for equity issuances.
Gold prices rose for the third session with investors awaiting U.S. inflation data for potential Fed rate cuts. Spot gold at $2,375.70. CPI, PPI may support rate cuts. Edward Meir sees possible further rise. FedWatch tool predicts rate cuts, discussed by Powell and House. Silver up 0.4%, platinum at $991.80, palladium at $992.30. Gold shines with low inflation.
Biden has faced doubts about his reelection chances after a weak and faltering performance in a debate against Republican former President Donald Trump late last month. Since then, some Democratic members of Congress and high- profile donors have publicly asked him to step aside as the party's candidate
Hemant Sharma, principal secretary of the Industries department with the additional charge of chairman of the Industrial Promotion and Investment Corporation of Odisha (IPICOL), will remain in the additional charge of principal secretary, MS & ME department.
IIHL seeks ₹ 4,300 crore NCD issue for Reliance Capital acquisition. Managed by RBI's Nageswara Rao Y under IBC, with NCLT approving ₹ 9,650 crore plan. Funds from domestic and global markets. Debentures secured by insurance share sales, Care Ratings assess. Escrow for repayments. Reliance General, Nippon Life stakes to Aasia Enterprise LLP. IIHL must retain 51% shareholding.
Nasdaq and S&P 500 hit records, driven by Nvidia, Apple gains. Powell's rate cut remarks, Taiwan Semiconductor's AI narrative influenced markets. Micron, AMD surged. Investors await U.S. inflation data. S&P sectors rose, tech leading. Intuit dropped; Illumina gained. Dow Jones rose. Second-quarter earnings, light trading volume noted. Comprehensive key points summarized.
Oil prices rose as U.S. crude and gasoline stocks fell, with Brent at $85.43 and WTI at $82.47. Influences include U.S. inflation data, Federal Reserve actions, Powell's comments, CPI and PPI reports, OPEC's forecast, Hurricane Beryl impact, economic growth, air travel, rate cut speculation, and interest rates affecting borrowing costs.
India’s $250 billion tech sector plays an important role in the economy, employing about 5.4 million people. Tech services make up about 7.5% of the country’s $3 trillion-plus gross domestic product.
The late monsoon arrival and heat waves have led to a projected 5% year-on-year inflation in June, driven by rising food and fuel prices. Central banks worldwide are incorporating climate risks into their models, as supply shocks from climate change present challenges in achieving price stability and economic growth.
Piramal Capital & Housing Finance raises $100 million social loan pre-funded by Standard Chartered Bank. The loan, benchmarked to SOFR, will support affordable housing, MSME business loans, and other social causes. The lender aims for 15% AUM growth in FY25 and plans to expand the retail business.
Religare Enterprises directed by SAT to apply for Burman family's open offer to increase stake. Sebi's show cause notice stayed temporarily. Dispute arises over open offer price and 'fit and proper' allegations. Court battles and accusations of fraud escalate between Religare and the Burmans.
Major life insurance companies, including Bajaj Allianz and Max Life, have raised term insurance premiums by 2-3%, with HDFC Life introducing a 10% hike for policyholders aged 60 and above, citing factors like age, health, and rising mortality rates.
As the 81-year-old tried to show his leadership credentials at a NATO summit in Washington, domestic calls have been growing for Biden to quit following his disastrous debate performance against Republican challenger Donald Trump. At least eight House Democrats have openly called on Biden to not seek reelection, but Peter Welch became the first in the Senate to explicitly do so as concerns rise over his age and fitness.
Shares of M&M dropped 8.4% following a 10% price cut on XUV700 SUVs, reducing the stock by 6.7% in Nifty. Kotak Securities targets ₹2,950, advising long-term investment. Despite profit booking, analysts foresee no revenue impact, emphasizing a solid order book and growth from February 2024's business strategy execution.
National Stock Exchange updates collateral criteria, leading to exclusion of stocks like Adani Power and Yes Bank. Over 1,000 securities affected. Changes in effect from August 1. Investors advised to review their portfolios.
Paint shares surged due to price hikes, led by Indigo Paints at 10.7%. Analysts foresee short-lived gains and pressure from Birla Opus. Nomura views price hikes favorably. Despite underperformance in 2024, Q1 earnings may be muted, keeping stocks range-bound. Anand Rathi sees opportunities. Elara Capital cites margin pressure and muted FY25 earnings, advising strategic investment.
The company is now taking risk mitigation measures such as skull sculpting and reducing carbon dioxide concentration in the blood to normal level in patients, the company's executives said in a live stream on social media platform X.
The IPO market in 2024 has seen strong investor interest with 38 companies listing at an average gain of 25%. While some stocks like Jyoti CNC Automation and Exicom Tele-Systems have surged 100-300%, others are trading below offer price. Major IPOs from Bharti Hexacom and Aadhar Housing Finance have performed well.
