The tax on external remittances from India has led to a notable drop in spending abroad. In June 2024, total remittances fell 44% to $2.2 billion from $3.9 billion the previous year, and 8% from $2.4 billion in May. Key categories like travel and studies abroad experienced significant declines.
Delhi University received confirmation from over 65,800 candidates for undergraduate courses, filling nearly 92% of seats in the first round. With 83,678 candidates accepting their allotted seats, 65,483 secured their admission by paying fees. The university has 71,600 seats across 69 colleges for the upcoming academic session starting on August 29.
Aarti Drugs Share Price: Aarti Drugs' shares saw a 13% rise on the BSE following the company’s announcement of a potential share buyback, to be discussed on August 26, 2024. Historically, the company has completed five buybacks since 2016. Despite a year of minimal gains, its stock price increased by 10% over the last month.
A total of 713 shares changed hands on the counter till 12:07PM (IST)
A two-day disruption in Delhi could have a significant impact on the business of platforms such as Ola and Uber, for whom the national capital is an important market in terms of customer base. The 15 unions on strike represent over 400,000 taxi and auto rickshaw drivers in the national capital.
An Indian Air Force fighter jet accidentally dropped an inert practice bomb near Rathora village in Rajasthan due to a technical malfunction, causing an 8-feet deep crater. The incident happened during preparations for the 'Tarang Shakti' air combat exercise and did not harm life or property. An investigation is underway. This was relatively minor compared to a previous March 2022 incident where a missile was accidentally launched and landed in Pakistan.
The stock quoted a 52-week high price of Rs 2090.0 and low of Rs 1266.0.
Jeevan Pramaan Patra: The Digital Life Certificate, also known as DLC, can be filled out via the facial recognition feature on an Android smartphone. The Department of Pension and Pensioners' Welfare is currently carrying out Campaign 3.0 nationwide, encompassing 800 cities and towns across all districts from November 1 to November 30, 2024.
Interarch Building Products IPO share allotment was to be finalized, with investors checking allotment via BSE or registrar's site. It saw a 93.5 times subscription, indicating strong demand. The shares are set for August 26 listing, trading at a 40% premium in the unlisted market.
Kalyan Jewellers Share Price: Kalyan Jewellers' shares surged 7.5% following the reported acquisition of a Rs 1,300 crore stake by promoter Trikkur Sitarama Iyer Kalyanaraman from Highdell Investment. The exact value of the transaction is not yet known, but a significant portion was acquired by the promoter through 5 block deals.
The stock quoted a 52-week high of Rs 3621.95 and a 52-week low of Rs 1909.0.
The Supreme Court encouraged doctors to end their protests over the Kolkata doctor-murder case and return to work, assuring no negative actions would follow. Chief Justice Chandrachud reviewed reports from CBI and West Bengal, stressing the need for safer work conditions for doctors and women professionals at hospitals.
Senior TMC leader Abhishek Banerjee criticized the response to the recent rape and murder of a medic at RG Kar hospital in Kolkata, noting that 900 similar cases occurred in India during the protests. He called for a comprehensive anti-rape law with swift justice, urging state governments to pressure the central government for stricter measures.
Ola Electric Mobility's stock declined by 7% to Rs 128.2 due to profit booking. The company saw a 32% rise in revenue but also a larger net loss in Q1 FY25.
Transport Corporation of India revealed plans to consider a share buyback for the first time in its board meeting on August 24. Consequently, the stock soared 20% to a record high. Over the past year, the company's shares have shown robust growth, reflecting strong market performance.
Kolkata doctor rape-murder case SC hearing: The Supreme Court has started hearing a suo motu case concerning the rape and murder of a postgraduate medic at RG Kar Medical College and Hospital in Kolkata. The case is being reviewed by a bench including Chief Justice DY Chandrachud and justices J B Pardiwala and Manoj Misra.
Tim Walz, governor of Minnesota, accepted the Democratic vice presidential nomination with his son Gus proudly cheering from the front row. Gus, a high schooler with learning and anxiety disorders, embraced his father emotionally on stage. The Walz family's heartfelt moments and personal stories have captured national attention and support.
Brace Port Logistics finalized its IPO share allotment after a highly successful subscription process. The IPO, consisting of new equity, attracted massive demand. Investors could verify their allotment status online. The company's shares were projected to list at a substantial premium. Funds raised will support working capital and corporate initiatives.
Kamala Harris, the Democratic presidential nominee, chose Minnesota Governor Tim Walz as her running mate. Walz, who has a centrist reputation, committed to the campaign. He has faced criticism for his budget management and response to the George Floyd riots but is noted for supporting progressive policies on family aid, abortion, and transgender rights.
Delhi Minister Atishi issued Show Cause Notices to the Information and Publicity Department officials for an unauthorized Independence Day ad missing Chief Minister Arvind Kejriwal's photo. This violated approved directions and may result in cost recovery from officials' salaries. Atishi also addressed severe waterlogging concerns in a letter to the Union Railway Minister.
A total of 8,901 shares changed hands on the counter till 11:32AM (IST).
The MEA also mentioned that the catchment areas of the Gumti River that flows through India and Bangladesh have witnessed the heaviest rains of this year over the last few days. The flood in Bangladesh is primarily due to waters from these large catchments downstream of the dam.
