The United Arab Emirates is monitoring the case of Pavel Durov, founder of Telegram, following his arrest in France. The UAE's foreign ministry is ensuring Durov receives consular services. French authorities detained Durov over alleged misuse of Telegram for crimes like money laundering and child offences. France's judiciary will handle the case.
The Karnataka Congress plans a 'Raj Bhavan Chalo' march to demand prosecution of Union Minister HD Kumaraswamy in a mining lease case. Deputy CM DK Shivakumar highlighted pending appeals for sanction against several BJP-JDS leaders while addressing these allegations at a press conference. Key Congress members will join the march.
Samajwadi Party chief Akhilesh Yadav criticized BJP MP Kangana Ranaut for her comments on the farmers' protests, claiminig that her remarks were scripted by the BJP. The BJP, distancing itself from Ranaut's statements, emphasized that she is not authorized to speak on party policies and urged her not to make such comments again.
IG Petrochemicals and several other companies have set August 29 as the record date to determine eligible shareholders for dividend payments. Today is the last day to buy shares to qualify for these dividends. Investors who purchase shares on the ex-date do not qualify. Key stocks trading ex-dividend from Thursday are listed.
Heavy rains and deep depression have severely impacted Gujarat, causing flash-flood-like situations in several regions, including Surat. With schools closed and multiple fatalities reported, authorities are on high alert. Gujarat's Chief Minister held a meeting to oversee the relief operations and urged strict safety measures to prevent accidents near overflowing water bodies.
Japan's Nikkei share average declined on Wednesday, impacted by a strengthening yen that affected exporters and added caution ahead of Nvidia's earnings. The Nikkei dropped by 0.3%, with a mixed performance among automakers and semiconductor-sector shares. Toyota Motor rose, while chip-testing machinery giant Tokyo Electron pulled back significantly.
Gold prices remain largely unchanged, holding near a record high amid potential U.S. rate cuts and safe-haven demand due to the Middle East crisis. Spot gold is steady at $2,524.88 per ounce, while U.S. gold futures rose slightly. Investors are keenly awaiting upcoming inflation data for further market insights.
The U.S. dollar remains near a year-low against other currencies, with markets expecting a U.S. interest rate cut next month. The debate is whether it will be 25 or 50 basis points. Bitcoin fell over 6%, trading below $60,000. Currency markets are stable, awaiting further economic data this week.
With a surge in market activity, mutual fund houses are introducing New Fund Offers (NFOs). NFOs provide limited-time subscriptions for new schemes priced at ₹10 per unit. Financial planners advise careful consideration, preferring established open-ended schemes over new ones due to their track records and transparency.
Citibank N.A. has settled with SEBI by paying ₹40.2 lakh for violating foreign portfolio investor norms, after it was found that a team member had copied an end-client's signature without their knowledge, leading to a show cause notice from the regulator.
The April-June quarterly results of Indian companies were disappointing, with BSE 500 firms showing just an 8% revenue growth and a 3% profit rise. Analysts will closely monitor future earnings. Professionals from sectors such as automobiles, consumer goods, and healthcare are cautiously optimistic, expecting better performance due to favorable conditions in the upcoming months.
Stock indexes on Wall Street showed mixed results a day after the Dow Jones Industrial Average hit an all-time high. The S&P 500 rose 0.2% in afternoon trading, while the Dow dropped 19 points. Semiconductor company Nvidia gained ground, and Treasury yields held steady in the bond market.
Pavel Durov, the founder and chief of Telegram, is set to learn Wednesday whether he will face charges and even be remanded in custody after his weekend arrest by French authorities over alleged violations at the messaging app. - 'Nothing to hide' - When the initial 96-hour questioning period ends, the investigating magistrate can either free Durov or press charges and remand him in custody.
The National Stock Exchange is set to refile for an initial public offering with the Securities and Exchange Board of India after addressing regulatory issues. The IPO, expected to be India's largest, is anticipated to raise ₹30,000 crore. NSE aims to secure the no-objection certificate needed to proceed with its plans.
Adani Enterprises plans to launch a public bond issue worth ₹800 crore on September 4. The issue, managed by the Trust Group, AK Capital, and Nuvama Wealth Management, has a base size of ₹400 crore and an option to keep another ₹400 crore under the green shoe option. The bonds are expected to be rated A+.
The BJP in Bengal has called for a 12-hour strike in West Bengal, protesting police actions during student protests about a trainee doctor's rape and murder. Public transport may be disrupted, but emergency services will run normally. Schools, colleges, and government offices are likely to remain open, but it's best to check with institutions.
Pharma stocks have gained investor interest as the Nifty Pharma index reaches new highs. Amid economic uncertainties, defensive sectors like pharma offer minimal risk. Notable picks include Lupin, Sun Pharma, and Dr Reddy's. The sector saw significant foreign inflows, driven by the performance of the generic drug Revlimid.
