Foreign direct inflows increased by 26.4% to $22.4 billion during April-June, marking significant growth. Sectors like manufacturing and financial services saw major investment, with countries such as Singapore and the US contributing. This uptick is promising for India’s goal to attract more overseas investors diversifying beyond China.
Cera Sanitaryware, which approved a Rs 130-crore share buyback earlier this month, will open bidding on August 22 and close it on August 28. Eligible shareholders can place their bids during this period, with the settlement of bids expected to be completed by September 4.
George Kurian, Minister of State, filed his nomination for the upcoming Rajya Sabha by-election in Madhya Pradesh. He aims to fill the seat left vacant by Jyotiraditya Scindia. Given the BJP's substantial strength in the Madhya Pradesh assembly, Kurian is well-positioned for a secure win.
Union Minister Piyush Goyal expressed concerns about the rapid growth of e-commerce in India, citing its potential to encourage a sedentary lifestyle. He highlighted the need for a balanced approach, considering its impact on traditional retail businesses and employment. Goyal also raised issues related to predatory pricing and market disruptions by major e-commerce players.
Brace Port Logistics' IPO, which opened on August 19, saw massive demand, being subscribed 217 times so far on the final day. Retail and non-institutional investors led the bidding. The company seeks to raise Rs 24 crore from a fresh equity issue, with shares priced at Rs 76-80, to fund working capital and general purposes.
The hospitality sector in Dhaka faced considerable financial setbacks due to the recent anti-government protests. Significant booking cancellations occurred during the peak of the unrest in August, culminating in the ouster of Prime Minister Sheikh Hasina. Luxury and economy hotels reported low occupancy rates and reduced clientele in their restaurants, highlighting the crisis's impact.
SBI home loan interest rates vary between 8.50% to 9.65% and vary depending on the CIBIL Score. Banks and lending institutions charge a one-time fee on certain types of home loan known as processing fee.
A total of 86,659 shares changed hands on the counter till time (IST).
Axis Bank took the lead in credit card terminals within four years. By June 2024, it had 18.7 lakh terminals and a 20.8% market share. It targeted businesses with high UPI transactions and introduced low-cost card acceptance devices and the Neo merchant app to simplify payment processes, surpassing ICICI Bank's terminal count.
With about 25 years of experience in financial leadership roles, Rajesh Kini comes with a track record of driving growth by optimising financial performance, bolstering margins, strengthening fiscal health and enhancing operational efficiency, according to the company.
Romanian police raided Andrew Tate's residence amid ongoing investigations for human trafficking, rape, and criminal conspiracy. The anti-organized crime agency searched four homes, focusing on accusations including underage exploitation and money laundering. Tate, awaiting trial with his brother and two Romanian women, denies the charges. Previous court rulings and movements also highlighted.
Cryptocurrencies saw notable declines, with Bitcoin dropping by 2.3% and Ethereum falling by 2.8%, ahead of key U.S. economic data. Anticipated policy moves and labor data revisions could influence market directions. Experts suggested potential rallies for Bitcoin if jobless claims decrease, while other major cryptocurrencies like BNB and Solana also faced downturns.
Tax officers are setting up up special teams to expedite high-value litigation and reviewing decade-old cases for potential write-offs. This initiative is aimed at bolstering recovery and cutting down on funds locked in litigation.
On the technical charts, the 200-day moving average of the stock stood at Rs 3537.06.
BITS Pilani has secured $2.5 million in pledges from alumni Prem Jain, M Sreenivasa Reddy, and Preetish Nijhawan, bringing their endowment fund commitments to $15 million. This funding aims to support the institute's mission of fostering innovation, academic excellence, and enabling access for deserving students, as highlighted by Vice-Chancellor Prof. V Ramgopal Rao.
The Tripura State government shut all schools on August 21 and 22 due to extreme weather conditions. Chief Minister Manik Saha sought additional NDRF teams to aid the response efforts. A landslide caused by persistent rain killed three family members. The IMD forecasts continued heavy rainfall over the next two days.
The Relative Strength Index of the stock stood at 61.53 on Wednesday.
We also try to engage with the companies and try to help them along the way in terms of building up their governance standards, the board structure, in terms of transparency to the market, communication to the market and this is a long-term journey.
A Delhi court has asked the National Investigation Agency for a response regarding Kashmiri parliamentarian Rashid Engineer’s bail application. Rashid, arrested in a 2017 terror funding case, has been in Tihar jail since 2019. He was granted parole to take his parliamentary oath. Rashid was implicated in the case after an investigation into businessman Zahoor Watali.
"Black Myth: Wukong," a video game adaptation of the classic "Journey to the West," saw 2.2 million concurrent players on its first day. Chinese state media emphasized its cultural significance for Western players, while analysts observed its potential impact on the global gaming market. Pre-sales hit 400 million yuan, marking China's first notable AAA game.
Health insurance GST: Parthanil Ghosh of HDFC ERGO noted that the 18% GST on health insurance premiums has increased costs, affecting affordability. He suggested that reducing or exempting GST could lower premiums and improve penetration rates. Other challenges include financial literacy, trust issues, and the lack of a healthcare regulator, despite increased awareness post-pandemic.
On the technical charts, the RSI of the stock stood at 44.38.
