India's silver imports are set to nearly double this year due to rising demand from solar panel and electronics makers. Investors are purchasing silver for better returns compared to gold. Imports might reach up to 7,000 tons. The import duty cut has also boosted investment demand.
Indian equity indices closed flat on Friday in a highly volatile session. Traders showed caution ahead of Federal Reserve Chair Jerome Powell's upcoming speech. Despite the muted performance, both NSE Nifty 50 and S&P BSE Sensex have gained around 3% in seven sessions due to US rate cut expectations and strong domestic inflows.
The National Human Rights Commission (NHRC) has initiated a suo motu investigation into a deadly explosion at a pharmaceutical plant in Andhra Pradesh's Anakapalli district, which killed at least 17 workers and injured many more. The NHRC is directing state officials to investigate potential safety violations and negligence, and has requested a detailed report within two weeks.
"We have seen some challenges there (SME platform). We request you to be extra careful as far as SME IPOs and fundraising are concerned because these small companies will become much, much bigger going forward," the banker-turned-capital markets regulator said.
The Nifty Auto index closed 1.12 per cent up at 25850.7.
Maharashtra Bandh on August 24: The Bombay High Court has restrained any political party or individual from calling a bandh in Maharashtra in light of the Badlapur sexual abuse case. Former CM Uddhav Thackeray announced the bandh for August 24, claiming it is for the protection of women, with no political intent. The bandh is expected to last until 2 pm.
Coca-Cola has announced that Greishma Singh will be the new market head for India Southwest Asia, succeeding Arnab Roy. Singh will take on the role starting September 1, 2024. She has been with the company for over 15 years and was previously Vice-President of Customer and Commercial Leadership for the same operating unit.
Telecom operator Jio has launched new country-specific roaming packs for destinations including the UAE, Canada, Thailand, and Saudi Arabia. These packs offer unlimited incoming SMS, outgoing calls (local and back to India), high-speed data with unlimited access beyond the Fair Usage Policy (FUP), and the option to receive incoming calls from any country.
Indian benchmark indices ended flat on Friday amid volatility, with traders cautious ahead of Federal Reserve Chair Jerome Powell's speech.
Tata Technologies shares surged 4.5% to Rs 1,054 on BSE after a block deal worth Rs 1,218 crore, representing 2.9% of equity took place. About 1.2 crore shares were traded at Rs 1,019.8 each, according to reports.
JNU students' union members marched to the Ministry of Education demanding increased scholarships but were blocked by police outside their campus, leading to clashes. The protest is part of a 13-day hunger strike beginning on August 11. Divisions exist within the student union about the strategy and scope of protests.
Pakistan is negotiating with Middle Eastern banks to borrow around USD 4 billion to meet its external financial needs. This is part of the USD 7 billion IMF Extended Fund Facility. Pakistan's total foreign borrowing is estimated at USD 20 billion for the fiscal year, with high financing costs and a low credit rating posing challenges.
India has addressed with Qatar reports regarding the seizure of the Guru Granth Sahib. The Indian embassy in Doha is in touch with the Sikh community in Qatar. One copy has been returned, and the government continues to urge for the resolution of the second copy. The matter is a priority for Indian authorities.
Ritesh D Ritelin, founder of Manzuri, aims to destigmatize sexual health in India by offering pleasure products for women. Despite government reluctance to acknowledge sex toys, Manzuri has grown successfully, he claims. Ritelin also claimed on a podcast that his net worth ranges from Rs 10 to Rs 12 crore.
With an interest rate cut already priced in for the Fed's September meeting, Powell's remarks will help investors determine whether the central bank will reduce rates by 25 or 50 basis points.
SpaceX is set to undertake its first private spacewalk with a crew comprising a billionaire entrepreneur, a retired military pilot, and two SpaceX engineers. The mission, part of Polaris Dawn, aims to test new equipment, including slim spacesuits and a no-airlock cabin, in preparation for future moon and Mars explorations.
Jay Shah, BCCI secretary, is the leading candidate to succeed Greg Barclay as ICC chair, with backing from England and Australia. His strong support from various cricket boards suggests he will be elected unopposed. If elected, Shah will become the youngest-ever ICC chief at 36, continuing a trend of prominent Indians in the role.
Engineering exports are expected to improve in the future as global forecasts for GDP growth remain at around 3% for 2024, says Arun Kumar Garodia, EEPC India Chairman.
Here are 9 ways to boost zinc in your meals for better immunity with Indian options:
Major cryptocurrencies rose on Friday ahead of Federal Reserve Chair Jerome Powell's Jackson Hole speech. Bitcoin and Ethereum gained 0.55% and 1.5%, respectively. Traders expect positive signals on rate cuts, boosting crypto. The global crypto market cap increased by 1% to $2.17 trillion.
It has gems jewellery and paint, consumer electronics, telecom, hospital, power, even it has power utility which is one of the highest growing segment and real estate. So, it is a combination of both cyclicals and non-cyclicals.
Rajiv Batra from JPMorgan predicts a difficult Q2 for India due to weather impacting demand but remains confident about long-term growth prospects. He favors healthcare, especially pharma and hospitals. Autos face stiff competition. Batra expects Indian markets to have a 13-15% CAGR and anticipates FII flows stabilizing after the US elections.
