Ardour Investment Holding acquired a 0.69% stake in APL between November 17, 2024, and August 6, 2024. Meanwhile, Emerging Market Investment increased its stake in the company by an additional 1.13% between June 12, 2024, and August 5, 2024. As of the quarter ending in June, Ardour Investment Holding held 2.53% of APL, while Emerging Market Investment's stake was 6.57%.
The last date for submission of EoI/ proposals is September 21, the Ministry of Food Processing Industries said in a statement.
Coforge, an Indian IT firm, revealed that a North American client has claimed indemnity exceeding $11 million due to an alleged data breach. While negotiations are ongoing, Coforge intends to reject the demands, arguing they are not reasonably liable. No current legal actions have been taken against the company, highlighting the uncertainty surrounding the financial impact.
Sebi advised mutual fund companies to perform stress tests to enhance liquidity risk management, especially for small and midcap schemes. Ananth Narayan Gopalakrishnan emphasized the importance of better risk communication and proposed new initiatives such as low-ticket SIPs and simpler regulations for passively managed funds to encourage competition and innovation in the industry.
Indian automaker Mahindra & Mahindra and China's Shaanxi Automobile Group have agreed to establish a $3 billion joint venture to build a car manufacturing plant in India. The plant is set up in Gujarat, India, and includes an export-oriented, integrated manufacture hub for assembled cars, engines, and car batteries. The Indian government has required approval for any Chinese investment since 2020, following deadly clashes between the two neighbours.
Doval said that "as we head into the next 25 years, we are going to see India is going to pivot much of the world in terms of its economics and its geopolitics, and that's great news for India and Indians".
Saugata Roy (TMC) opposed the introduction of the bill saying that the Indian Carriage of Goods by Sea Act, 1925, has been serving its purpose for the past 100 years and The Carriage of Goods by Sea Bill, 2024, only has some minor amendments. "This superfluous legislation should be done away with, it does not help the country," Roy said.
Amazon India has established four hubs, including a temporary hub in West Bengal, to deliver urgent relief within 72 hours due to heavy rainfall and floods. Located strategically across different regions of India, these hubs help support communities hit by natural disasters, proving crucial in recent floods. Amazon has delivered shelter kits benefiting over 10,000 families.
Arshad Nadeem's gold medal in javelin at the Olympics is a testament to his village's incredible support. Despite financial struggles, local contributions funded his training, leading to historic success.
Quick commerce has significantly impacted India's retail landscape, quickly becoming a key growth channel for FMCG companies. Originally doubted, services like Blinkit and Zepto now drive substantial e-commerce sales. This trend puts pressure on traditional kirana stores and is set to expand beyond groceries, potentially disrupting the retail sector further.
BNP expressed dissatisfaction with India hosting Sheikh Hasina after her ousting. Gayeshwar Roy, a BNP leader, stressed the importance of India supporting all Bangladeshis rather than favoring one party. Roy also addressed perceptions of BNP's anti-India bias and stance on minority rights, clarifying their tactical relations with Jamaat-e-Islami for electoral politics.
Post-2008, global central banks shifted towards closer government collaboration to stabilize markets. Despite increased liquidity, inflation remained low until 2020. However, post-COVID fiscal measures spurred inflation, raising concerns about investments in equities amid high valuations.
A bench headed by Justice Suresh Kumar Kait listed the matter for hearing on September 19 and said Malik "may think again" about having legal representation in the case. The court also gave him time to think about either filing a reply or a written submission.
The Supreme Court of India has raised concerns over the meager pensions received by judges who spent their entire careers in the district judiciary before being elevated to the High Court. The pensions are between Rs 15,000 and Rs 25,000. The court, along with Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra, appealed to top law officers to use their influence to resolve the issue.
While jobs need to be created, the recent moves on that front should have been aimed to benefit MSMEs instead of big companies, says the Member of Parliament.
Questioning Yediyurappa's "moral right" to demand his resignation in connection with the MUDA site allotment 'scam', Siddaramaiah on Wednesday had urged that the former should retire from public life as he is an accused in a Protection of Children from Sexual Offences (POCSO) Act case.
Equity sectors to bet: The Budget 2024 has rationalised the capital gains regime taxation. The benefit of indexation has been partially taken away from houses, land and buildings purchased on or after July 23, 2024. The LTCG tax rate on equity has been hiked to 12.5%. However, it has also provided the guidance on sectors that are likely to reward equity investors in long run.
Railway Minister Ashwini Vaishnaw introduced the Railways (Amendment) Bill 2024 in Lok Sabha, aimed at granting statutory powers to the Railway Board. The bill seeks to merge the Railway Board Act, 1905, into the Railways Act, 1989, to streamline the legal framework and improve the Board's functioning and independence.
The Supreme Court partially stayed a Mumbai college's ban on 'hijab, burqa, cap, and naqab,' requesting a response from the educational society. The court emphasized that its interim order should not be misused and allowed the college to seek further intervention if necessary. This follows the high court's previous endorsement of the dress code.
But Ola has its own distribution model. So, it has been carrying the inventory which would have an impact on the working capital. Two, it has its own component manufacturing thought process also. It has its own gigafactoryproject and over the period that would shift the opex into the capex.
Muhammad Yunus, who won the 2006 Nobel Peace Prize for his pioneering microfinance work, has taken a super-portfolio encompassing transport, land, defence, aviation and energy.
