Sebi employees and its chief Madhabi Puri Buch remain at odds over HR issues, despite recent negotiations. Around three-fourths of Sebi's officers oppose a September 4 statement blaming external elements for staff complaints. Employees have staged silent protests, while Buch has not directly engaged in the talks.
Vedanta Resources has successfully raised $900 million through a subsidiary by issuing five-year bonds at 10.875%. The funds will be used to refinance existing debt. The bond sale attracted strong interest from global investors, with orders totaling $1.45 billion, indicating confidence in Vedanta's growth and financial stability.
Prime Minister Narendra Modi attended the Ganesh Puja at the residence of Chief Justice of India, Justice DY Chandrachud, in New Delhi. The PM prayed for happiness, prosperity, and health. Ganesh Chaturthi, a 10-day festival celebrating Lord Ganesha, is marked by vibrant processions and traditional rituals across India and abroad.
A drop in oil prices is beneficial for India, a major crude importer. Paints, tyres, oil marketing companies, and airlines are set to gain from lower costs. However, oil exploration companies face challenges due to reduced realisations. Analysts note the positive impact on marketing margins and raw material costs for various sectors.
On the anniversary of the 9/11 attacks, President Joe Biden, former President Donald Trump, and Vice President Kamala Harris attended ceremonies at ground zero. Victims' relatives called for accountability and justice, urging leaders to address Saudi Arabia's alleged involvement. The event highlighted the ongoing impact of 9/11 on U.S. foreign policy and domestic security. The ceremony included reading victims' names and laying wreaths at various attack sites.
US Election 2024: Taylor Swift's endorsement of Vice President Kamala Harris for president has led to a significant increase in voter registration. Swift's Instagram post, which has received over 9.6 million likes, directs followers to a custom URL for voter registration. The post emphasizes the importance of research and early voting.
Doctors in West Bengal continue their protest over the RG Kar Medical College rape-murder case, demanding a transparent discussion with MoS Health Chandrima Bhattacharya. They insist on live telecasted talks to ensure transparency. The protest persists despite an invitation for closed-door talks from the state government.
Ireland's Data Protection Commission has launched an inquiry into Google's handling of EU users' personal data in developing its AI model, PaLM 2. This investigation is part of broader efforts to regulate data processing in AI development. Recently, social media platform X agreed not to use EU users' data for AI training without consent.
The ₹6,560 crore IPO of Bajaj Housing Finance set records with 64 times subscription on the final bidding day, attracting bids worth nearly ₹3.23 lakh crore. This surpassed Coal India's previous record of ₹2.36 lakh crore in 2010. The IPO also received 8.9 million applications, breaking Tata Technologies' record.
Trinamool Congress leader Kunal Ghosh supports the demand for justice in the RG Kar Medical College rape-murder case, urging the CBI to complete its investigation swiftly. Junior doctors are protesting, and patients are being affected. The victim's father is dissatisfied with Chief Minister Mamata Banerjee's handling of the case.
Domestic equities fell on Wednesday amid global volatility ahead of US inflation data and the Trump-Harris debate. The market is expected to consolidate at a higher zone with a focus on rate-sensitive sectors. Key stocks in the F&O ban include Balrampur Chini Mills, Hindustan Copper, and others.
Delhi and surrounding regions experienced heavy rainfall on Thursday, causing waterlogging and power outages in several areas. The Indian Meteorological Department (IMD) has issued a three-day rain alert, predicting more rain through the weekend. Strong thunderstorms, lightning, and gusty winds are expected, with rain intensity peaking on September 12 and 13. The impact has led to traffic disruptions and advisories for avoiding waterlogged areas. Rain in Delhi will ease by Sunday but may exceed the average September rainfall in the coming days.
U.S. central bankers are expected to initiate interest rate cuts next week with a quarter-percentage-point reduction. This move aims to lower recession risks despite persistent price pressures. Recent data shows core inflation remains steady, prompting cautious action from the Fed, which has maintained rates in the 5.25%-5.50% range since last year.
JSW MG Motor India anticipates electric vehicles to surpass internal combustion engine vehicles with the launch of Windsor, their third EV. Currently, EVs account for 35-40% of MG's sales. The new ownership program aims to make EVs more affordable by splitting EMI into fixed and variable components based on battery usage.
The new funding round would be led by investment firm Thrive Capital, which has previously invested in OpenAI. Tech giants Apple, Nvidia and Microsoft have also been part of the discussions, said the people, who spoke on condition of anonymity because of the nature of the discussions.
Gold prices remained flat after the U.S. inflation data release, with traders now focusing on upcoming economic indicators that could influence the Federal Reserve's policy decisions. Spot gold stood at $2,511.52 per ounce, while U.S. gold futures dipped slightly. Key data on producer prices and jobless claims are awaited.
Stocks in news: Shares of Tata Steel, Arvind Fashions, Route Mobile, Adani Ports, and NBCC will be in focus due to various news developments including investments, collaborations, and project approvals.
Oil prices remained stable on Thursday as concerns about lower demand offset gains from Hurricane Francine's impact on U.S. output. Brent crude futures for November rose slightly, while U.S. crude futures for October also saw a modest increase. The market's focus shifted back to lower demand and rising U.S. oil stockpiles.
The high-powered jury of the ET Startup Awards 2024 met in Bengaluru on Wednesday and picked out winners across eight categories after a dynamic discussion. More on this in today’s ETtech Morning Dispatch.
U.S. stock indexes closed higher on Wednesday, driven by gains in the technology sector, despite a disappointing inflation report. Nvidia shares surged on news of potential chip exports to Saudi Arabia. Political developments and the U.S. presidential debate also influenced market sentiment, with Kamala Harris gaining ground over Donald Trump.
Asian stocks rose on Thursday, driven by a tech rally that boosted Wall Street. Japan and South Korea saw gains, with the Topix index rising significantly. Traders are anticipating imminent US rate cuts despite elevated core inflation. Nvidia shares surged, while oil prices held steady amid Hurricane Francine's impact on key US oil zones.
A Soyuz spacecraft carrying two Russians and an American docked at the International Space Station after a fast trip of just over three hours. The crew includes mission commander Alexei Ovchinin, Ivan Vagner, and Donald Pettit. They join the existing crew of NASA and Russian astronauts. This mission follows a previous launch halted due to technical issues. Two astronauts will return with SpaceX next year due to problems with Boeing's Starliner capsule.
The US has approved the sale of High Altitude Anti-Submarine Warfare sonobuoys worth USD 52.8 million to India. This deal will enhance India's ability to conduct anti-submarine warfare operations using its MH-60R helicopters. The sale aims to strengthen the US-India strategic relationship and improve security in the Indo-Pacific and South Asia regions. Congress has 30 days to review the sale under the Arms Export Control Act.
