State-owned Bank of Maharashtra is planning to raise Rs 5,000 crore in equity this year as part of a two-year strategy to pare the government stake to 75% to conform to the market regulation.
A survey by LocalCircles reveals that six out of 10 Indians are spending 50% or more on vegetables every week compared to previous months. The shortage of vegetables and fruits in mandis has led to a spike in prices of fresh farm produce, including onion, potato, and tomatoes. Tomato prices have soared to Rs 80-100 per kg, with some state governments stepping in to prevent traders from hoarding supplies.
Puja Khedkar, a probationary IAS officer, addressed allegations of misusing disability and OBC quotas in securing her civil service position, stating she will present her case to the investigating committee. She emphasized that the committee's decision should be respected by all parties involved. Khedkar refrained from commenting further, stating her focus remains on her duties. She emphasized the importance of due process and the presumption of innocence until proven guilty, expressing confidence... Читать дальше...
Prices of key spices like cumin seeds, coriander seeds, chillies, and turmeric have decreased by 2% to 10% over the past two months, providing relief amidst firm inflation in staples like cereals and vegetables. Factors contributing to this decline include reduced domestic and export demand, ample stocks, and expectations of favorable upcoming sowing seasons.
Spanish football sensation Lamine Yamal has grabbed eyeballs after being the youngest player to score in a Euro Cup. Now, he has broken yet another record for appearing in a major international tournament at the age of just 17.
The Reserve Bank of India has directed banks to provide defaulting borrowers with a minimum of 21 days to respond before classifying their accounts as "fraud." This follows a Supreme Court ruling mandating that banks cannot declare an account as fraudulent without issuing a show-cause notice and allowing the borrower a chance to respond.
Budget 2024 insurance changes: The government is set to introduce a Bill proposing significant changes to the Insurance Act. This could include of composite licenses for the insurance companies that allows life insurers to offer health and general insurance policies, simplifying investment rules, and facilitating easier registration for intermediaries and allowing insurers to distribute other financial products. This would create a more holistic insurance market with insurers offering bundled products catering to diverse customer needs.
In Monday's trading session, five stocks witnessed a long unwinding.
Zen Technologies and its subsidiary AI Turing Technologies have introduced advanced defense solutions including Prahasta, an AI-driven quadruped robot for real-time 3D mapping. Other innovations include Hawkeye, an anti-drone camera, Barbarik-URCWS, the world's lightest remote weapon station, and Sthir Stab 640, a stabilized sight for armored vehicles. These products aim to enhance mission planning, navigation, and combat effectiveness while reducing personnel risk. Zen Technologies' Chairman highlighted... Читать дальше...
It signals a shift in view on security from extreme bearishness to bullishness.
In 2024, premium consumption sees growth despite slower car and smartphone sales. SUVs and Rs 10 lakh vehicle sales rose 13%, with Maruti Suzuki up 20%. SUVs formed 63% of sales (Society of Indian Automobile Manufacturers). Premium smartphones (Rs 30,000+) and large TVs (50-inch plus) grew, driven by Xiaomi, Motorola, and Google (Counterpoint Research). Amazon India’s 5G sales hit 81%, driven by no-cost EMIs. Premium FMCG categories, driven by younger consumers, also grew, with washing liquids seeing a 50% volume rise.
SBI MF, Kotak MF, Axis MF, Quant MF and Aditya Birla Sun Life MF were among the fund houses which shopped for HDFC Bank shares worth Rs 6,800 crore. At the end of June, the total number of shares held by all mutual funds in HDFC Bank stood at 154.26 crore versus 150.20 crore crore shares at the end of May.
Karnataka, KDEM, and ANSR unveiled the Karnataka GCC Landscape Report. Minister Kharge emphasized GCC growth, a new policy and regulations. Bengaluru and tech clusters remain hubs. Lalit Ahuja praised ANSR’s role in innovation and talent. Ekroop Caur highlighted Karnataka’s leadership. The state may host 330 Forbes firms by 2030, advancing software product innovation.
Tamil Nadu Chief Minister MK Stalin has rejected Karnataka's decision to release 8000 cusecs of Cauvery water and called for an all-party meeting to explore options for its mandated share. The DMK regime is pursuing the matter vigorously to get Karnataka to comply with the Cauvery Water Regulatory Committee's (CWRC) order, which asks for one tmc ft of water for 20 days from July 12.
An AR-15-style semiautomatic rifle was used by Thomas Mathew Crooks to shoot at former President Donald Trump. Known as “America’s rifle” by the NRA, the AR-15 is common in mass shootings, customizable for lethality, and banned in nine states due to its military-style features.
The company will develop around 10 lakh square feet and is expected to generate revenue of over Rs 1400 crore with residential project.
Panun Kashmir criticized the BJP, accusing it of exploiting the Kashmiri Pandit exodus for political gain while neglecting the community for a decade. Chairman Ajay Chrungoo condemned the government's indifference and failure to support Kashmiri Hindus, calling for a separate Union Territory for their rehabilitation and criticizing the BJP's alleged bias and disrespect towards the community's issues.
Around 57% equity mutual funds have outperformed their respective benchmarks in June. As many as 159 out of 281 open-ended equity diversified funds outperformed the benchmarks in June, according to a study by PL Wealth Management.
Prashant Kishor's 'Jan Suraaj' campaign is gaining support as a political alternative, especially among Muslims in Bihar. Speaking at Haj Bhawan, Kishor highlighted that his campaign, aiming to contest the 2025 assembly polls, resonates within the Muslim community. He criticized the RJD, urging Muslims to support candidates aligned with Gandhi and Ambedkar's ideals.
The number of entries that require TDS or TCS is steadily rising. This is something that businesses and individuals find cumbersome. Finance ministers continually add to this list, posing compliance challenges and financial costs. Taxmen, however, love it and argue that TDS and TCS help them gather data crucial for tracking evasion.
The Delhi High Court has listed a plea by the Enforcement Directorate (ED) challenging bail granted to Chief Minister Arvind Kejriwal in a money laundering case involving the alleged excise scam. The ED argued that the trial court's order was "perverse", "one-sided" and "wrong-sided" and that the findings were based on irrelevant facts. Kejriwal, who was arrested by the ED and the CBI in March and June, argued that discretionary orders of bail cannot be set aside merely on "perceptions and fanciful imagination" of the prosecution.
Automobile retail sales increased by 9% year-on-year in the June quarter of FY25, reaching 61,91,225 units, up from 56,59,060 units in the same quarter of FY24, according to the Federation of Automobile Dealers Associations (FADA). Passenger vehicle sales grew by 2.53% to 9,20,047 units. Despite strong bookings, high competition, excess supply, and discounting posed challenges. Extreme heat led to an 18% drop in showroom walk-ins in May. Two-wheeler sales rose by 12.56% to 45,54,255 units, while... Читать дальше...
The Supreme Court will examine Maharashtra's challenge to the remission granted to gangster-turned-politician Arun Gawli, who is serving a life sentence. Gawli, aged 71, claims eligibility for early release under a 2006 policy for aged and infirm prisoners. The state opposes this, citing Gawli's serious crimes.
