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URL stringclasses 1 value	Article url stringlengths 62 259	title stringlengths 0 214	subtitle stringlengths 0 6.35k ⌀	content stringlengths 0 36.8k	article datetime stringlengths 16 16 ⌀	article date stringclasses 115 values	article time stringlengths 5 17
moneycontrol.com	https://www.moneycontrol.com/news/india/climate-activist-sonam-wangchuk-among-120-people-from-ladakh-detained-before-entering-delhi-12832974.html	Climate activist Sonam Wangchuk among 120 people from Ladakh detained before entering Delhi	Sonam Wangchuk, in a post on Instagram shortly before being detained, shared visuals from the Delhi border, where amid huge police presence their buses were stopped..Related stories.	Around 120 people from Ladakh including climate activist Sonam Wangchuk, who had marched to the national capital demanding sixth schedule status for the Union Territory, have been detained by the Delhi Police at the city's border, police sources said. According to Delhi Police sources, the detained people, including Wangchuk, have taken to Alipur and other police stations along the city border. Wangchuk and others wanted to spend the night at the border. They were initially requested to go back as prohibitory orders were imposed in Delhi but when they did not stop, the policemen who were already deployed at the border, detained about 120 men, including Wangchuk, police officer said. They have been kept at Alipur Police Station and other nearby police stations at the Delhi-Haryana border, the officer said, adding that they will be released after some time.I AM BEING DETAINED...along with 150 padyatrisat Delhi Border, by a police force of 100s some say 1,000.Many elderly men & women in their 80s and few dozen Army veterans...Our fate is unknown.We were on a most peaceful march to Bapus Samadhi... in the largest democracypic.twitter.com/iPZOJE5uuMSonam Wangchuk (@Wangchuk66)September 30, 2024 Women participating in the march were not detained, the source said, adding that the detentions were done in view of prohibitory orders banning gatherings of five or more persons in north and central Delhi. Wangchuk, in a post on Instagram shortly before being detained, shared visuals from the Delhi border, where amid huge police presence their buses were stopped. The climate activist could be seen interacting with police officials in the video. In his post, Wangchuk said several vehicles of Delhi Police and Haryana Police were accompanying their buses and while they initially thought they were being escorted, as they approached the national capital, it was clear they were going to be detained. "As we are approaching Delhi, it appears we are not being escorted, we are being detained," Wangchuk said. He said around 1,000 police personnel have been deployed at the Delhi border and they have been informed that heavy deployment of security forces has been done at the Ladakh Bhawan in Delhi, and in areas where students from Ladakh reside. "It appears they don't want to allow this padyatra to take place," he said. The 'Delhi Chalo Padyatra' was organised by the Leh Apex Body (LAB), which along with Kargil Democratic Alliance (KDA), are jointly spearheading an agitation over the past four years in support of statehood, extension of the Constitution's sixth schedule, early recruitment process along with a public service commission for Ladakh and separate Lok Sabha seats for Leh and Kargil districts. Delhi Police on Monday banned the gathering of five or more persons, people carrying banners, placards arms and or protests in the central part and bordering areas for the next six days in the national capital, citing law and order issues, including calls of protests given by several organisations. According to an order issued from the Delhi Police Headquarters, Police Commissioner Sanjay Arora has directed to impose the section 163 (which was earlier section 144 of CrPC) of Bharatiya Nagarik Suraksha Sanhita in the districts of New Delhi, North and Central and all police stations jurisdiction sharing the borders with other states. The prohibitory order will remain effective till October 5.	2024-10-01 07:51	2024-10-01	07:51
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/jindal-steels-expansion-strategy-to-propel-growth-in-long-run-says-motilal-oswal-12832956.html	Jindal Steel's expansion strategy to propel growth in long run, says Motilal Oswal	Jindal Steel & Power Ltd (JSPL).Related stories.	Jindal Steel & Power Ltd (JSPL)is setting itself up for significant growth with an ambitious capacity expansion plan at its Angul facility in Odisha. The expansion, expected to be completed by Q1 FY27, will increase the company's crude steel capacity by 65 percent to 15.9 million tons per annum (mtpa) and finished steel capacity by 83 percent to 13.75 mtpa, positioning JSPL as the fourth-largest steel producer in India. According to a recent report byMotilal OswalÂ , this move is seen as a key driver of JSPL's future growth. With a capex plan of Rs 31,000 crore, JSPL is allocating 75 percent of its funds towards the Angul expansion, with additional investments in its captive power plants and new projects like micro-pelletisation. Post-expansion, the share of flat steel products is expected to rise to 55 percent, a significant increase from the current 30-35 percent. Motilal Oswal has reiterated its 'Buy' rating on JSPL with a target price of Rs 1,200 and expects JSPL's capacity expansion and cost-optimisation strategies to deliver long-term value. JSPL's shares closed nearly one percent higher in the previous session at Rs 1,038. The stock has gained nearly 40 percent on a year-to-date (YTD) basis, outperforming the Nifty 50 which gained 18 percent during the same period. Follow our live blog for all the market action JSPL aims to boost its operating margin by enhancing raw material integration, increasing its captive power plant share, shifting to a higher flat steel mix (approximately 55 percent), and expanding its value-added products (VAP), which currently make up 67 percent of its portfolio. In addition, JSPL has started coal production at the Gare Palma IV/6 mine, with further developments in its Utkal C, B1, and B2 mines expected to contribute to cost-effectiveness and higher margins. Motilal Oswal's report highlights the strength of the Indian steel market, with demand driven by infrastructure projects, increased construction activity, and rising demand for automobiles, renewable energy, and consumer goods. As a result, JSPL is projected to grow its steel volumes by 18 percent YoY in FY25 to 9 million tons and by 25 percent YoY in FY26 to 11 million tons. Despite a recent correction in metal pricesâ€”long steel down 5 percent and flat steel down 10 percent in Q2 FY25â€”the outlook remains optimistic. While global steel prices have been impacted by sluggish demand and oversupply from China, Motilal Oswal notes that "prices have bottomed out and recent measures by China to boost its economy would positively impact the domestic steel prices going forward." JSPL has also significantly reduced its net debt from Rs 39,100 croreÂ in FY19 to around Rs 10,400 croreÂ in Q1 FY25.	2024-10-01 07:50	2024-10-01	07:50
moneycontrol.com	https://www.moneycontrol.com/technology/oneplus-13-with-6-82-inch-curved-screen-snapdragon-8-gen-4-soc-tipped-to-launch-in-october-article-12832942.html	OnePlus 13 with 6.82-inch curved screen, Snapdragon 8 Gen 4 SoC tipped to launch in October		The OnePlus 13 is anticipated to launch in China this October, succeeding the OnePlus 12, which was launched globally at the start of this year. Ahead of the official launch, a senior OnePlus official has teased the front design of the smartphone. Ahead of its launch, many leaks and reports have suggested several other features of the OnePlus 13 as well. OnePlus China head Louis Lee has shared a new post on Weibo confirming that, like last yearâ€™s OnePlus 12, the upcoming OnePlus 13 will have an â€˜Oriental Screenâ€™ BOE X curved screen. Moreover, since itâ€™s going to be the second generation BOE X curved display, it is expected to have even more outstanding durability. Additionally, many leaks indicate that the OnePlus 13 could sport a 6.82-inch 2K 10-bit LTPO display with a refresh rate of 120Hz. It is also expected to be powered by the Qualcomm Snapdragon 8 Gen 4 SoC, which will launch later this month. Further, the OnePlus 13 is rumored to feature a revamped camera module. We could have a 50MP Sony LYT-808 primary sensor with an f/1.6 aperture, a 50MP ultra-wide lens, and a 50MP periscope telephoto shooter with 3X optical zoom. The device may also have 100W wired fast charging, and come equipped with a substantial 6,000mAh battery. While OnePlus has yet to reveal the exact launch date of the OnePlus 13 in India, the device will follow its China launch at the end of this year or the start of next year in the Indian market.	2024-10-01 07:50	2024-10-01	07:50
moneycontrol.com	https://www.moneycontrol.com/news/business/softbank-to-invest-500-million-in-openai-report-12832966.html	SoftBank to invest $500 million in OpenAI: Report	The company is raising $6.5 billion in the form of convertible notes..	Japanese telecom company SoftBankâ€™s Vision Fund will invest $500 million in OpenAIâ€™s latest funding round, The Information reported on Monday, citing a person familiar with the deal. SoftBank declined to comment, while OpenAI did not immediately respond. The company at the heart of the artificial intelligence boom is raising $6.5 billion in the form of convertible notes,Reutersexclusively reported earlier this month. Apple reportedly dropped out of plans to participate in the large funding round, which currently values the artificial intelligence startup at $150 billion before the SoftBank investment. However, the valuation will be contingent on whether the ChatGPT-maker can upend its corporate structure and remove a profit cap for investors. The deal represents SoftBankâ€™s first investment in the Sam Altman-led firm, the Information report said. Reutersreported on Wednesday that OpenAI is working on a plan to restructure its core business into a for-profit corporation that will no longer be controlled by its non-profit board.	2024-10-01 07:42	2024-10-01	07:42
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/world-street-powell-hints-at-smaller-cuts-ahead-aston-martin-issues-profit-warning-pepsicos-new-venture-and-more-12832959.html	World Street \| Powell hints at smaller cuts ahead, Aston Martin's profit warning, PepsiCo's new venture and more	World Street offers a sneak peek into the world of business and economy..Related stories.	US Federal Reserve Chair Jerome Powell remarked that the recent half a percentage rate cut should not spark expectations of similar big-sized cuts in the future.Â British luxury brand Aston Martin has sounded alarms on profits attributing to industry-wideÂ challenges, especially in China, the world's largest auto market. US drugmakerÂ PfizerÂ plans toÂ sell about $3.25Â billion stake in Haleon, the company behind the toothpaste brand Sensodyne.Â PepsiCo in reportedly talks toÂ acquire tortilla-chip makerÂ Siete Foods for over $1Â billion. All this and more in the October 1 edition of World Street. Hold your horses Federal Reserve Chair Jerome Powell clarified on Monday that the recent half-point interest rate cut shouldnâ€™t be seen as a sign of continued aggressive action, while adding thatÂ rate cuts will be much smaller in quantum going ahead.Â â€śIf the economy evolves as expected, policy will gradually shift toward a more neutral stance. However, weâ€™re not on a predetermined path,â€ť Powell said to the National Association for Business Economics. â€śThere are risks on both sides, and weâ€™ll make decisions on a meeting-by-meeting basis.â€ť Powell also hinted that, if the data holds, two additional rate cuts are expected this year, but in smaller, quarter-point increments,Â taking a step away from market expectations of more aggressive easing. I see RED! British luxury carmaker Aston Martin, popularÂ for its iconic models featured in James Bond films, has issued a profit warning, citing industry-wide challenges and ongoing difficulties in China's auto market. The company also slashed its profit margin and production targets for the year, lowering it byÂ roughly 1,000 units due to supply chain disruptions and China's persistent macroeconomic weakness. Aston Martin also expects its 2024 EBITDA to fall below last yearâ€™s mark,Â whileÂ the company no longer anticipates achieving positive free cash flow in the second half of the year. Additionally, its full-year gross margin is now projected to fall below 40 percent, down from its previous target. Minting Money Pfizerâ€™s stake sale in British consumer healthcare company and maker of Sensodyne, Haleon has been upsized to 640 million shares, worth approximately $3.25 billion, due to strong investor demand,Â Reuters reported on Monday. Last year, Pfizer, the largest shareholder in Haleon,Â hinted at plans to gradually reduce its stake in a â€śslow and methodicalâ€ť manner over the coming months. Earlier on Monday, it was announced that Pfizer originally aimed to sell around 540 million shares, which would lower its stake in the Sensodyne maker from 22.6 percent to 16.2 percent. New beginnings PepsiCo is in advanced discussions to acquire Texas-based tortilla-chip maker Siete Foods for over $1 billion, according to a report by the Wall Street Journal. Siete Foods, owned and operated by the Garza family, has garnered significant attention during the sale process, attracting interest from private-equity firms and other food companies. While the deal could be announced soon, thereâ€™s still a chance the talks could fall through. The acquisition highlights the competitive landscape for Siete Foods, which has drawn strong interest from various potential buyers. Easing landscape Beijing became the fourth major Chinese city toÂ ease home-buying restrictions, joining Shanghai and Shenzhen in efforts to stimulate demand and support the struggling property market. The city will lower the minimum down payment ratio to 15 percent for first-time buyers, while second-home buyers will see their minimum down payment reduced to 20Â percent, according to a statement by the city's Commission of Housing and Urban-Rural Development. Additionally, restrictions for non-local buyers will be relaxed, with the requirement for continuous social insurance or income tax payments in central areas reduced to three years, down from the previous five-year threshold.	2024-10-01 07:40	2024-10-01	07:40
moneycontrol.com	https://www.moneycontrol.com/news/business/stocks/india-glycols-shares-in-focus-post-capacity-expansion-12832860.html	India Glycols shares in focus post capacity expansion	India Glycols.	India Glycolsshares will remain in focus on October 1 after company announced capacity expansions at their Kashipur plant in Uttarakhand. The company has successfully enhanced its grain-based distillery capacity by 100 KLPD, bringing the total to 500 KLPD. Additionally, the bio-fuel ethanol plant capacity has increased by 180 KLPD, resulting in a new total of 590 KLPD. Furthermore, India Glycols has expanded its facilities for value-added chemical products by 2,500 MT/year, raising the total capacity to 7,500 MT/year. This facility has also been commissioned. The remaining expansions are expected to be completed by Q1 FY26. Catch all the market action on our live blog The work for enhancement of grain-based distillery capacity by 180 KLPD and the bio-fuel ethanol plant (Ethanol to Bio-Fuel conversion) by 90 KLPD at Gorakhpur (Uttar Pradesh) is in progress and the same is expected to be commissioned by Q4/FY25. Moreover, in September, the company formed a partnership with Amrut Distilleries for the manufacturing and marketing of premium brands, indicating a strategic move to expand its product portfolio.	2024-10-01 07:39	2024-10-01	07:39
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/bank-of-maharashtra-stock-in-focus-as-psu-bank-launches-qip-to-raise-rs-3500-crore-12832963.html	Bank of Maharashtra stock in focus as PSU bank launches QIP to raise Rs 3,500 crore	Bank of Maharashtra has launched its Qualified Institutions Placement (QIP) issue on September 30. The floor price has been fixed at Rs 60.37 per share. The issue size is expected to be Rs 3,500 crore.Related stories.	Bank of Maharashtra shares are in focus on October 1 after the public sector bank launched a qualified institutional placement (QIP) to raise up to Rs 3,500 crore. The bank set a floor price of Rs 60.37 per share, slightly higher than the previous closing price of Rs 59.83. In its regulatory filing,Bank of Maharashtramentioned it may offer a discount of up to 5% on the floor price. The PSU bank aims to raise Rs 1,750 crore through the base issue and an additional Rs 1,750 crore via a greenshoe option, planning to sell up to 8.6% of its stake or 61 crore shares through the QIP. Earlier on April 26, the bankâ€™s board approved raising Rs 7,500 crore for the current financial year through various modes. Shareholders later approved this on June 12, agreeing to fundraising options such as FPO, rights issue, QIP, preferential issue, and ESPS, according to an exchange filing. Also Read \|ÂStock Radar: Bank of Maharashtra, Tata Power, Unichem Labs, Alphageo India, SpiceJet in focus on Tuesday Bank of Maharashtra stock has surged 32 percent so far this year, compared to an 18 percent rise in benchmark Nifty. In the last one year, the counter has risen around 22 percent, underperforming Nifty which gained 32 percent during this period. The lender reported a net profit rose on 47 percent on-year at Rs 1,293.5 crore for the quarter ended June 2024, owing to higher net interest income (NII) on the back of strong business growth numbers. Its NII, the difference between interest earned and interest expended, rose 20 percent YoY to Rs 2,799 crore for the April-June period. The bank's credit-deposit ratio increased to 78.17 percent for the quarter, and its asset quality improved with gross non-performing assets (NPA) falling to 1.85 percent at the end of June against 1.88 percent in the previous quarter.	2024-10-01 07:38	2024-10-01	07:38
moneycontrol.com	https://www.moneycontrol.com/news/business/stocks/tata-power-shares-in-focus-on-mou-with-rajasthan-govt-with-investment-of-rs-1-2-lakh-cr-12832861.html	Tata Power shares in focus on MoU with Rajasthan govt with investment of Rs 1.2 lakh cr	Tata Power.	Tata Powershares will remain focus on October 1 after the company signed a Memorandum of Understanding (MoU) with the Government of Rajasthan with an investment plan of ~ Rs 1.2 lakh crore, is set to span over the next decade. The initiative aims to transform Rajasthan into a power surplus state, focusing on providing 24/7 clean, affordable, and reliable energy. Key areas of investment include renewable energy projects, manufacturing, transmission, distribution, nuclear power, rooftop solar installations, and EV charging infrastructure. The agreement encompasses a comprehensive approach to the power value chain, emphasizing generation, transmission, and distribution (T&D) reforms. It also includes cutting-edge renewable projects such as solar, wind, hybrid solutions, and battery energy storage systems (BESS). Catch all the market action on our live blog The company has successfully commissioned 1 GW of solar projects and 185 MW of wind projects in the state, along with 130 MW of rooftop solar installations.	2024-10-01 07:38	2024-10-01	07:38
moneycontrol.com	https://www.moneycontrol.com/news/world/japans-new-pm-shigeru-ishiba-set-to-be-formally-anointed-unveil-cabinet-12832960.html	Japan's new PM Shigeru Ishiba set to be formally anointed, unveil cabinet	Shigeru Ishiba.	Shigeru Ishiba was set to be voted in by parliament as Japanâ€™s next prime minister on Monday and unveil his cabinet as he seeks to heal party divisions and prepare for an Oct. 27 election. The 67-year-old former defence minister, who won a close-fought contest to lead the ruling Liberal Democratic Party last week, is virtually assured of being formerly designated premier on Tuesday due to his partyâ€™s majority in parliament. The result of the vote is expected around 1:40 p.m. (0440 GMT) which will then be followed by the Emperor formally appointing Ishiba, and his cabinet, in a ceremony at Tokyoâ€™s Imperial Palace. Ishiba is also expected to hold a late press conference on Monday. The veteran lawmaker, seen as somewhat of an outsider in his party who failed at four previous leadership bids, has already begun picking government and party officials who will contest the upcoming general election with him. So far those include two rival candidates in the leadership race, Katsunobu Kato as finance minister and Yoshimasa Hayashi to stay on as chief cabinet secretary, a pivotal post that includes the role of top government spokesman, two sources familiar with the appointments told Reuters earlier. A close Ishiba ally, Takeshi Iwaya, a former defence chief, will take over as foreign minister, while Gen Nakatani will return to the defence ministry, a position he held in 2016, said the sources, who asked not to be identified because they are not authorized to speak to the media, confirming earlier media reports. Yoji Muto, a former junior minister, will take charge at the economy, trade and industry ministry, a separate source said. Not included in his picks, however, is Sanae Takaichi, the hardline conservative he beat by 215 votes to 194 on Friday in the closest leadership election in almost seven decades. Takaichiâ€™s absence could make it difficult for Ishiba to manage a fractious ruling group roiled by scandals that have sapped its public support.	2024-10-01 07:27	2024-10-01	07:27
moneycontrol.com	https://www.moneycontrol.com/news/business/ipo/diffusion-engineers-ipo-allotment-today-after-115x-subscription-to-rs-158-crore-ipo-heres-how-to-check-status-12832949.html	Diffusion Engineers IPO allotment today after 115x subscription to Rs 158-crore IPO; here's how to check status	Diffusion Engineers shares were trading at a grey market premium of Rs 55, indicating a 32% listing premium, ahead of the allotment finalisation..Related stories.	Diffusion Engineers Ltd will likely finalise the allotment of shares on October 1, following a successful Rs 158-crore IPO that received 114.5 times subscription in the price range of Rs 159-168 per share. The strong investor interest came despite a sharp correction in the secondary market on September 30. Non-institutional investors subscribed 207.60 times their reserved portion of Diffusion Engineers IPO, while qualified institutional buyers and retail investors subscribed 95.74 times and 85.61 times, respectively. Investors who participated in the IPO can check their allotment status on the official website of the registrar, Bigshare Services. Diffusion Engineers IPOallotment status: Direct link to check on Bigshare Services Step 1:Open the direct link to the registrar. (Click on this URL - https://ipo1.bigshareonline.com/IPO_Status.html). Step 2:Select Diffusion Engineers from the dropdown menu. Step 3:Enter PAN, Application number, or DP client ID. Step 4:Click Submit. Step 5:The allotment status will be displayed on the screen. Also read \|Â5 public issues open for subscription on Oct 1; check full IPO update Diffusion Engineers IPO allotment status check on BSE Step 1:Visit the BSE website. Step 2:Click on 'Investors' under the main menu. Step 3:Navigate to 'Investor Services' and select 'Status of Issue Application'. Step 4:Choose 'Equity' as the issue type. Step 5:Fill in the details, including PAN and issue name, to view the status. Diffusion Engineers IPO GMP today The shares of Diffusion Engineers were trading at a grey market premium (GMP) of Rs 55, suggesting a listing premium of 32 percent over the upper price band. Use of IPO proceeds Out of the IPO proceeds, Rs 71.4 crore will be utilised to expand the company's existing manufacturing facility, and Rs 30.4 crore will be spent on setting up a new manufacturing unit in Nagpur. An additional Rs 22 crore will go towards working capital, while the remaining funds will be allocated for general corporate purposes. The Maharashtra-based company is involved in the manufacturing of welding consumables, wear plates and parts, and heavy machinery for core industries. It also offers specialised repair and reconditioning services for heavy equipment, operating out of four facilities in Nagpur, Maharashtra. Shares of Diffusion Engineers are expected to be credited to the demat accounts of eligible investors by October 3, with trading set to begin on the BSE and NSE on October 4.	2024-10-01 07:24	2024-10-01	07:24
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/first-tick-top-10-global-cues-for-todays-trade-48-12832525.html	First Tick: Top 10 global cues for todayâ€™s trade	Market Today.Related stories.	Indian benchmark indices Sensex and Nifty 50 are likely to see a muted openingÂ on October 1, tracking cues from GIFT Nifty trading around 26,002, a short while ago this morning. Track the latest updates onÂGIFT Nifty right here on Moneycontrol. Bears took charge of Dalal Street on September 30 and dragged the BSE Sensex more than 1,300 points and Nifty below 25,800, intraday, amid rising geopolitical tensions and ahead of Federal Reserve Chair Jerome Powell's speech later tonight. At close, the Sensex was down 1,272.07 points or 1.49 percent at 84,299.78, and the Nifty was down 368.20 points or 1.41 percent at 25,810.80. Here is how financial markets across the globe fared overnight: GIFT Nifty (Flat) The GIFT Nifty is trading flat, indicating a muted start for the day. Nifty futures were trading at 26,002 at 07:00 am IST. Asian Equities (Up) Asian markets were trading higher on Tuesday, after Federal Reserve Chair Jerome PowellÂ indicated the recent outsized cutsÂ enacted by the US central bank should not be interpreted as a sign that future moves will be as aggressive.Change From Previous Close (%)MTD (%)YTD (%)TopizÂ 1.32Â 1.10Â 11.80Nikkei1.551.3413.53Hang SengÂ -Â -Â -Taiwan0.74Â 0.4221.10KospiÂ -Â -Â -US Equities (Gain) The S&P 500 sputtered to a record high close on Monday, rebounding from a brief setback after Federal Reserve Chair Jerome Powell said the U.S. central bank is in no hurry to implement further interest rate cuts. The Dow also posted an all-time closing high. The three major U.S. stock indexes registered gains for the quarter and for the month. Powell, at a National Association for Business Economics conference in Nashville, Tennessee, said he sees two more rate cuts, totaling 50 basis points, this year as a baseline if the economy evolves as expected. The Dow Jones Industrial Average rose 17.15 points, or 0.04 percent, to 42,330.15. The S&P 500 gained 24.31 points, or 0.42 percent, at 5,762.48 and the Nasdaq Composite advanced 69.58 points, or 0.38 percent, to 18,189.17.Change From Previous Close (%)MTD (%)MTD (%)Dow JonesÂ 0.04Â 13.11S&P5000.4221.67Nasdaq0.3812.90US Bond Yield (Down) Treasuries extended declines, pushing short-term yieldsÂ higher, after Chair Jerome Powellâ€™s cautious stance in sayingÂ the Federal Reserve will lower interest rates â€śover time,â€ť whileÂ re-emphasizing that the overall economy remains on solidÂ footing. .The US 10-year Treasury yield slipped 25 bps at 3.77 percent and the US 2-year bond yield was down 23 bps to 3.63Â percent, in the early trade on Friday.Current PriceMTDYTDUS 10-Year TreasuryÂ 3.77Â 3.904.57US 2-Year TreasuryÂ 3.63Â 3.915.04Dollar Index (Flat) The US dollar gained against major peers on Tuesday after Federal Reserve Chair Jerome Powell pushed back overnight against bets on more supersized interest rate cuts.Current PriceMTDYTDDollar IndexÂ 100.80Â 101.65106.17Asian currencies (Down) All the Asian currencies were trading lower in the early trade on Tuesday, while on month-to-date all currencies appreciated with the Thai Baht rising more than 5 percent and the Malaysian Ringgit adding nearly 5 percent.Change From Previous Close (%)MTD (%)YTD (%)Indonesian RupiahÂ -0.099Â 2.54Â 1.71South Korean Won-0.3741.34-2.23Japanese Yen-0.2082.07-2.02Philippines Peso-0.192Â 0.449-1.35Thai Baht-0.2895.265.43Taiwan Dollar-0.3210.866-3.71China Renminbi-0.110Â 1.501.66Malaysian Ringgit-0.8424.8310.52Singapore Dollar-0.0081.702.73Gold (Up) Gold steadied after tumbling the most sinceÂ August as traders pared bets on the pace of rate cuts by theÂ Federal Reserve.Change From Previous Close (%)MTD (%)YTD (%)GoldÂ 0.07Â 0.08Â 27.80Silver0.0380.3931.44Crude (Gains) Oil prices were steady on Tuesday as the prospect of additional supply entering the market amid lacklustre global demand growth offset concerns that the escalating Middle East conflict could disrupt exports in the key producing region.Change From Previous Close (%)MTD (%)YTD (%)US West TexasÂ 0.10Â 0.07Â -4.76Brent Crude0.150.01Â -6.79LME Commodities (Mixed) The commodities prices were trading mixed with Aluminium and Copper down more than 1 percent each, while Nickel added more thanÂ 3 percent.Change From Previous Close (%)MTD (%)YTD (%)AluminiumÂ -1.32Â -Â 9.54CopperÂ -1.54Â -14.84Nickel3.05Â -5.49LeadÂ -0.11Â -Â 1.33Zinc0.05Â -16.25Fund Flow Action The foreign institutional investors (FIIs) extended their sellingÂ as they sold equities worth Rs 9792 crore on September 30, while domestic institutional investors extended their buying as they bought equities worth Rs 6645 crore on the same day.30th SeptMTDYTDFII Net FlowsÂ -9,791.9315,423.32Â -1,27,112.88DII Net FlowsÂ 6,645.8Â 31,860.233,37,463.94Hope you're all set for today's trade, we wish you a profitable day ahead.	2024-10-01 07:14	2024-10-01	07:14
moneycontrol.com	https://www.moneycontrol.com/technology/fortnite-creator-epic-games-sues-google-samsung-heres-why-article-12832951.html	Fortnite creator Epic Games sues Google, Samsung, hereŌĆÖs why	Epic Games.Related stories.	The developer of popular game Fortinite -- Epic Games -- has filed a lawsuit against Google and Samsung. The game developer said that the two companies coordinated efforts to block competition in app distribution on Samsung devices. This is a fresh case against Google by Epic Games as it had sued the tech giant earlier as well. ŌĆ£Our litigation alleges that SamsungŌĆÖs recent implementation of the Auto Blocker feature was intentionally crafted in coordination with Google to preemptively undermine the U.S. District CourtŌĆÖs remedy following the juryŌĆÖs verdict in EpicŌĆÖs case against Google,ŌĆØ said Epic Games. Earlier, the jury found that GoogleŌĆÖs app store practices are illegal, including the unlawful agreements Google enters into with phone manufacturers such as Samsung. Epic Games has wanted companies to allow other app stores, which it alleges SamsungŌĆÖs Auto Blocker feature doesnŌĆÖt do. Auto Blocker is a setting that Samsung introduced on their mobile devices in October 2023 as an opt-in feature that disables the userŌĆÖs ability to install apps from any sources other than the Google Play Store and the Samsung Galaxy Store. The game developer argues that as the worldŌĆÖs largest Android phone manufacturer, SamsungŌĆÖs Galaxy Store is well-positioned to be a meaningful competitor to the Google Play Store. "The shady handshake deals proposed by senior Google executives to Samsung and the agreements they have entered into were designed to disadvantage competition and enrich GoogleŌĆÖs bottom line at the expense of developers and consumers,ŌĆØ Epic Games argued. The developer is asking the court to prohibit SamsungŌĆÖs and GoogleŌĆÖs anti-competitive and unfair conduct and mandate that Samsung eliminate the Auto Blocker by default and enable competition. ŌĆ£The juryŌĆÖs decision was unanimous and clear; GoogleŌĆÖs agreements with OEMs to block competition are illegal. This applies not only to Google, but to the device manufacturers that collude with them. We will take all necessary steps to ensure this decision is fully upheld,ŌĆØ Epic Games added.	2024-10-01 07:07	2024-10-01	07:07
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/fed-sees-no-hurry-to-cut-rates-as-confidence-in-economy-grows-powell-says-12832947.html	Fed sees no 'hurry' to cut rates as confidence in economy grows, Powell says	As Fed chair Jerome Powell spoke, financial markets leaned more heavily into bets that the Fed would cut rates in quarter-percentage-point increments, and now see that as the likely pace through the middle of next year..Related stories.	Federal Reserve Chair Jerome Powell indicated on Monday the U.S. central bank would likely stick with quarter-percentage-point interest rate cuts moving forward and was not "in a hurry" after new data boosted confidence in ongoing economic growth and consumer spending. "This is not a committee that feels like it is in a hurry to cut rates quickly," Powell told a National Association for Business Economics conference, even though the policy-setting Federal Open Market Committee kicked off its easing cycle with a larger-than-expected half-percentage-point reduction at its September 17-18 meeting. "We will do what it takes in terms of the speed with which we move," Powell said, to try to keep inflation progressing towards the Fed's 2% target while maintaining a low unemployment rate.But, with discussion over whether the U.S. central bank might approve another large reduction to account for the fast decline of inflation since last year, Powell said the baseline was currently for two quarter-percentage-point reductions by the end of this year, as indicated in policymakers' updated economic projections released earlier this month. "If the economy evolves as expected, that would be two more cuts" by year's end, for a total reduction of half a percentage point more, he told the crowd in Nashville, Tennessee.His comments rested heavily on confidence in continued economic growth that was buoyed by recent data revisions that raised estimates of income, spending and savings and showed gross domestic income growing faster than thought. The revisions to government reports on GDI have removed a "downside risk to the economy and suggests spending can continue at a healthy level," Powell said. GDI is an alternate measure of economic growth, similar to gross domestic product, but with income rather than output as the yardstick. A gap between the two led Fed officials to worry that output might be weaker than thought, but the two converged when the estimate of GDI was increased. The economy "is in solid shape," Powell said. As Powell spoke, financial markets leaned more heavily into bets that the Fed would cut rates in quarter-percentage-point increments, and now see that as the likely pace through the middle of next year. The outcome will still hinge on incoming data, including the September U.S. employment report due to be released on Friday and the October employment report, which is due on Nov. 1, just days before the central bank's November 6-7 meeting. Stocks eased slightly after Powell's remarks, though major indices closed higher on the day. Yields on U.S. Treasuries climbed. 'RISKS ARE TWO-SIDED' Powell said the U.S. economy seems poised for a continued slowdown in inflation that will let the Fed reach a more neutral level of interest rates "over time." "Disinflation has been broad-based, and recent data indicate further progress toward a sustained return to 2%," he said. "We are not on any preset course. The risks are two-sided, and we will continue to make our decisions meeting by meeting." The Fed's policy rate is currently set in the 4.75%-5.00% range. Economic projections released at the meeting earlier this month showed the median policymaker expectation was for the rate to decline further to the 4.25%-4.50% range by the end of this year, to the 3.25%-3.50% range by the end of 2025, and for policy easing to end in 2026 with the rate around the longer-run estimated "neutral" level of 2.9%. Powell's reference to "two-sided" risks points to the open debate Fed officials will have as data accumulate. In an interview on Monday with Reuters, Atlanta Fed President Raphael Bostic, for example, said he expected an "orderly" pace of rate cuts moving forward, but was open to another half-percentage-point cut if coming employment reports show a significant weakening in job growth. Both he and Fed Governor Michelle Bowman said the fact that inflation stripped of volatile food and energy costs remained at 2.7% in August was a reason not to cut too fast. The most recent inflation data showed a headline rate of just 2.2%. Powell, however, said he felt that "broader economic conditions ... set the table for further disinflation." Goods prices have been declining, while the once-sticky aspects of the service industry saw inflation now "close to its pre-pandemic pace," Powell said. Progress on housing inflation has been "sluggish," the Fed chief said, but "the growth rate in rents charged to new tenants remains low. As long as that remains the case, housing services inflation will continue to decline." The job market remains "solid," he said, with a 4.2% unemployment rate still a low level and around that which Fed officials consider sustainable in the long run with inflation at the central bank's target. "Overall, the economy is in solid shape; we intend to use our tools to keep it there," Powell said, adding that the Fed had made "a good deal of progress" in lowering inflation without a sharp rise in joblessness.	2024-10-01 07:05	2024-10-01	07:05
moneycontrol.com	https://www.moneycontrol.com/news/business/ipo/ipo-today-5-public-issues-open-for-subscription-on-oct-1-diffusion-engineers-forge-auto-allotments-awaited-12832683.html	IPO today: 5 public issues open for subscription on Oct 1; Diffusion Engineers, Forge Auto allotments awaited	The IPO market is set for significant action today, with five issues open for public subscription and multiple share allotments expected..Related stories.	The primary market is set to continue buzzing with activity on the first day of October, with five IPOs open for subscription. In addition, share allotments for Diffusion Engineers and other companies are expected today. Hereâ€™s a quick look at the companies raising funds in today's busy market, along with the share allocation updates. IPO share allotments today: Diffusion Engineers:The share allotment is set to take place today, October 1, after the IPO was subscribed 114.49 times. Diffusion Engineers public issue was open from September 26 to 30. Divyadhan Recycling Industries:Share allocation will take place today, October 1, after its subscription period, which ran from September 26 to 30. Forge Auto International:Shares will be allotted today, following the close of its subscription on September 30. Nexxus Petro Industries:The share allotment will be completed today, October 1, after subscriptions closed on September 30. The companyâ€™s shares are scheduled to list on October 4. Sahasra Electronics:Share allotments will also be processed today, with the listing expected on October 4, following the close of its IPO on September 30. IPOs open for public subscription: NeoPolitan Pizza and Foods:The SME issue, which opened for public subscription on September 30, will close on October 4. Share allotments are likely to occur on October 7. Paramount Dye Tec:This SME issue, which opened on September 30, is set to close on October 3, with allotment expected on October 4. Subam Papers:This public issue, also open since September 30, will close on October 3. The share allotment is likely on October 4. HVAX Technologies:The IPO, which opened on September 27, concludes today, October 1. Allotment is scheduled for October 3, with listing expected on October 7. Saj Hotels:The subscription for this issue, which began on September 27, will also close today, with share allotments set for October 3 and listing on October 7.	2024-10-01 07:02	2024-10-01	07:02
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/daily-voice-rbi-unlikely-to-announce-rate-cut-decision-before-2025-but-surprise-cut-cannot-be-ruled-out-says-this-senior-fund-manager-12832930.html	Daily Voice: RBI unlikely to turn dovish before 2025, but surprise cut cannot be ruled out, says this senior fund manager	Deepak Ramaraju is the Senior Fund Manager at Shriram AMC.Related stories.	"The RBI is unlikely to take any rate cut decision before CY 2025. However, a surprise rate cut cannot be ruled out," Deepak Ramaraju, Senior Fund Manager at Shriram Asset Management Company said in an interview toMoneycontrol. According to him, the RBI is expected to track the inflation data closely. The evolving geopolitical situation, rainfall distribution and sowing of kharif crops will be the factors that RBI will be looking at, he said. Among sectors, "likely margin pressure temporarily and stretched valuation keeps us cautious on infrastructure and industrial space," said Deepak Ramaraju, who has over 20 years of diverse experience including 16 years of expertise in equity markets. However, government spending and sustainable order flows along with a cut in interest rate may be beneficial from an earnings perspective over the medium to long term, he added. Are the valuations in small & midcaps highly expensive? Does it mean there are fewer opportunities in both segments? The Mid and Small Cap indices (Nifty Midcap 50 and Nifty Small Cap 100 index) have generated returns to the extent of approximately 48 percent and 59 percent, respectively over the last one-year period. Valuation-wise, they are expensive on a TTM (trailing twelve months) basis, and the P/BV is above the 2x Standard deviation level. Above-normal returns in the past attracted a lot of inflows through mutual funds. Small-cap funds witnessed inflows of Rs 3,209.3 crore in August (up significantly from Rs 2,109.2 crore in July) while mid-cap funds had inflows of Rs 3,054.58 crore (Rs 1,644.2 crore in July). Return expectation over the near term may be moderate and additional funds may flow towards largecap and flexicap categories as well to take advantage of better valuation and diversification. However, in the long term, a rate cut by RBI may result in an upmove of mid and small-cap funds. Are you cautiousÂ on infrastructure and industrial space from here on? The order book received by these companies is robust. However, execution can be a challenge for infrastructure and industrial companies. With China announcing the stimulus, commodities may rally further. Hence margins can be under pressure temporarily. Also stretched valuation keeps us cautious on this space. However, government spending and sustainable order flows along with a cut in interest rate may be beneficial from an earnings perspective over the medium to long term. Is financialisaton a big investment opportunity? A material shift towards financialisaton of savings increased more after the demonetization in 2016. This is corroborated by the Economic Survey Report of 2024, which states that in the last four years, retail investors have increased their investment in stock markets through systematic investment plans (SIPs) attracted by the huge returns from the equity markets. This has led to an increase in the number of demat accounts with both depositories (CDSL & NSDL) to 1,514 lakh in FY24 (1,145 lakh in FY23) and also a significant jump in registered investor base at NSE. As of FY22, on average, an Indian household holds 77 percent of its total assets in real estate, 7 percent in other durable goods, and 11 percent in gold. Hence there is ample scope for opportunity in the financialization theme. Do you see a change in policy stance by RBI in October and the first interest rate cut in December? Post the Fed rate cut in September; all eyes are on RBIâ€™s monetary policy in October. RBI is expected to closely track the inflation data. The evolving geopolitical situation, rainfall distribution and sowing of kharif crops will be the factors that RBI will be looking at. They are unlikely to take any rate cut decision before CY 2025. However, a surprise rate cut cannot be ruled out. Are you bullish on the power and power ancillary space, considering the finalisation of National Electricity Plan 2023 to 2032? Recently, the Ministry of Power approved the National Electricity Plan (NEP) for both central and state transmission systems, aiming to meet the peak demand of 458 GW by 2032. This plan will involve a significant investment of Rs 9.15 lakh crore, marking a major step in the development of India's infrastructure. The primary beneficiaries will include transmission companies, EPC players, equipment manufacturers, as well as companies producing switchgear, cables, and related components. The government is placing a stronger emphasis on sustainable energy, with a larger share of spending directed towards renewables. This presents a promising long-term investment opportunity.	2024-10-01 07:00	2024-10-01	07:00
moneycontrol.com	https://www.moneycontrol.com/news/world/oil-steadies-as-middle-east-tensions-vie-with-libyan-supply-outlook-12832938.html	Oil steadies as Middle East tensions vie with Libyan supply outlook	Israelâ€™s military said it has begun targeted raids against Hezbollah targets in southern Lebanon..	Oil steadied at the start of the fourth quarter as geopolitical risks in the Middle East, with Israel beginning ground raids inside Lebanon, vied with the prospects of a return of Libyan supply. Brent for December traded near $72 a barrel after it ended Monday modestly higher, with West Texas Intermediate above $68. Israelâ€™s military said it has begun targeted raids against Hezbollah targets in southern Lebanon. Libya is preparing to restore production after its two rival governments reached a compromise, according to people familiar with the situation. The global crude benchmark plunged almost 17% last quarter, and is now lower year-to-date. Expectations that OPEC+ will make good on plans to bring back production, as well as a slowdown in China â€” even after massive stimulus was unveiled last week â€” have weighed on prices. OPEC+ will hold an online monitoring meeting on Wednesday, as the alliance prepares to increase production. The group will start restoring supply in December and isnâ€™t discussing any new proposals, Russian Deputy Prime Minister Alexander Novak said last week. Israel had been stepping up its assault on Hezbollah in Lebanon since it killed the Iranian-backed groupâ€™s chief on Friday. Oil prices have so far not reacted to the escalation, with the production and transport of crude in the Middle East not affected by the hostilities.	2024-10-01 06:43	2024-10-01	06:43
moneycontrol.com	https://www.moneycontrol.com/news/world/israel-says-it-has-begun-targeted-ground-raids-in-lebanon-12832934.html	Israel says it has begun ŌĆśtargetedŌĆÖ ground raids in Lebanon	The military said troops backed by airstrikes and artillery launched ground raids "a few hours ago" targeting militant group Hezbollah "in villages close to the border"..Related stories.	Israel said Monday night that it had begun ŌĆ£targeted ground raidsŌĆØ in southern Lebanon, escalating a campaign to root out Hezbollah despite international appeals for restraint. The Israel Defense Forces said its forces are striking targets ŌĆ£located in villages close to the borderŌĆØ that ŌĆ£pose an immediate threat to Israeli communities in northern Israel.ŌĆØ The attacks further expanded the campaign against the Iran-backed organization following IsraelŌĆÖs killing of its leader Hassan Nasrallah on Friday, even as the US, the European Union and Arab powers call for a cease-fire. Israel has shifted its focus to Lebanon with its war against Hamas in the Gaza Strip at a standstill. An IDF statement on X said the ground operations were carried out based on ŌĆ£precise intelligence against Hezbollah terrorist targets and infrastructure in southern Lebanon.ŌĆØ Israeli airstrikes continued on Monday, with IDF reporting earlier that one had destroyed a ŌĆ£surface-to-air missile launcher storage facilityŌĆØ near BeirutŌĆÖs international airport. Washington had expected Israel to launch a limited ground incursion into Lebanon but has cautioned Prime Minister Benjamin NetanyahuŌĆÖs government against a larger and longer-term operation that risks a direct confrontation with Tehran, according to a US official with knowledge of the situation, who asked not to be identified discussing strategy. Israeli Defense Minister Yoav Gallant told tank crews deployed along the border earlier Monday that the killing of Nasrallah wasnŌĆÖt the final step in the fight against Hezbollah and that ŌĆ£we will employ all the capabilities at our disposal.ŌĆØ Netanyahu has said the goal of crushing Hezbollah is to end rocket attacks by the Iran-backed group that forced tens of thousands of Israelis from their homes in northern Israel. A similar exodus has been seen in southern Lebanon amid IsraelŌĆÖs retaliation. While most of HezbollahŌĆÖs senior leadership has been killed and much of its arsenal destroyed, Israeli officials say it retains substantial capability to inflict losses on Israeli forces and fire missiles across the border. NasrallahŌĆÖs deputy, Naim Qassem, said on Monday that the group remains ready to fight on the ground. Moshe Davidovich, a representative of Israeli communities on the western end of the border region with Lebanon, said he had attended a meeting where Gallant vowed to remove any threat from Hezbollah six miles (10 kilometers) miles from the border. ŌĆ£We received a promise that the IDF would do everything required in order to clean out all of the terrorist nests that threaten the State of IsraelŌĆÖs northern border, our evacuated communities,ŌĆØ Davidovich told Channel 12.The US official, who asked not to be identified discussing private deliberations, said the Biden administration is worried the Israeli military may overreach. Asked Monday morning whether the White House was aware of a possible Israeli incursion, President Joe Biden called again for a halt to the fighting. ŌĆ£IŌĆÖm more aware than you might know and IŌĆÖm comfortable with them stopping,ŌĆØ Biden said. ŌĆ£We should have a cease-fire now.ŌĆØ The Biden administration has failed several times to limit and shape IsraelŌĆÖs military response since Oct. 7, when Hamas in Gaza killed about 1,200 people and kidnapped more than 200 in southern Israel. Hezbollah began its rocket attacks the next day and has vowed to continue until Israel ends the campaign in Gaza, which has left more than 40,000 people dead according to the Hamas-run Health Ministry. Both Hezbollah and Hamas are backed by Iran, which Netanyahu has said is IsraelŌĆÖs biggest threat.	2024-10-01 06:26	2024-10-01	06:26
moneycontrol.com	https://www.moneycontrol.com/news/world/israeli-forces-start-targeted-ground-raids-in-south-lebanon-12832934.html	Israeli forces start 'targeted ground raids' in south Lebanon	The military said troops backed by airstrikes and artillery launched ground raids "a few hours ago" targeting militant group Hezbollah "in villages close to the border"..	The Israeli military said Tuesday that troops have started "ground raids" in villages in southern Lebanon, after militant group Hezbollah said it had targeted "enemy soldiers" at the countries' border. A Lebanese security official said Israel had also conducted at least six strikes on south Beirut after Israel's army ordered residents in the Hezbollah stronghold to evacuate. Despite international calls for de-escalation, Israel earlier vowed to keep fighting Hezbollah and sealed part of the border after killing the Iran-backed group's leader. Israeli Defence Minister Yoav Gallant warned the battle was not over even after the massive strike on Beirut that killed Hezbollah chief Hassan Nasrallah on Friday, dealing the group a seismic blow. The military said troops backed by airstrikes and artillery launched ground raids "a few hours ago" targeting militant group Hezbollah "in villages close to the border". Israel informed its main weapons supplier Washington of the incursions, US State Department spokesman Matthew Miller told journalists. US President Joe Biden earlier on Monday indicated he opposed an Israeli ground operation. "We should have a ceasefire now," he said. Hezbollah fighters were "ready if Israel decides to enter by land", the group's deputy leader Naim Qassem said in a first televised address since Nasrallah's death. In a statement, Hezbollah said it "targeted" Israeli troops carrying out "movements" in orchards near the border, with a source close to the group saying the soldiers were "right on the border". There was no immediate comment from Hezbollah following the Israeli army's announcement of the ground raids, but the group's al-Manar television reported the Israeli statement announcing the raids on its Telegram channel. Lebanon's national army, dwarfed by Hezbollah's military power, was "repositioning" troops farther from the border, a military official told AFP. World leaders have urged de-escalation, with United Nations Secretary-General Antonio Guterres's spokesman Stephane Dujarric saying: "We do not want any sort of ground invasion." Hezbollah 'targets' troops Earlier this month, Israel launched a wave of deadly air strikes aimed at Hezbollah across Lebanon, the latest of which killed 95 people on Monday, according to Lebanon's health ministry. On Monday evening, the Israeli military called on people in three districts of southern Beirut to evacuate. "You are located near interests and facilities belonging to the terrorist Hezbollah group," Israeli military spokesman Avichay Adraee said. "For your safety and the safety of your family members, you must evacuate the buildings immediately and stay away from them." AFP correspondents in the capital heard explosions and saw a flash around ground level. As Israel announced its ground raids, Syria's official news agency SANA said the country's air defence systems were intercepting "hostile targets" in the Damascus area. There was no immediate comment from the Israeli military, which has carried out hundreds of strikes on Syria in recent years. 'Everyone is afraid'Â He said the killing of Nasrallah was "an important step, but it is not the final one". Hezbollah began low-intensity strikes on Israeli troops a day after its Palestinian ally Hamas staged its unprecedented attack on Israel on October 7, which triggered Israel's devastating assault on the Gaza Strip. The border clashes rapidly escalated this month. On Monday, the Israeli army declared an area of the border strip a "closed military zone". Israel's strikes on Lebanon have killed hundreds of people over the past week and forced up to a million to flee their homes, according to Lebanese officials. Hezbollah and other groups launched rockets, drones and some missiles at Israel over the same period, causing some injuries but no deaths. Israeli Prime Minister Benjamin Netanyahu accused Iran, which backs Hamas, Hezbollah and other armed groups, of plunging "our region deeper... into war". "There is nowhere in the Middle East Israel cannot reach," Netanyahu warned. Iran has said Nasrallah's killing would bring about Israel's "destruction", though the foreign ministry said Monday that Tehran would not deploy any fighters to confront Israel. Lebanese Prime Minister Najib Mikati called for a ceasefire based on a recent US-French proposal, urging "an end to the Israeli aggression against Lebanon". Earlier on Monday, an Israeli strike hit a building in central Beirut, with an armed Palestinian group saying it had killed three of its members. The strike, the first in the city centre in years, sparked panic. Central Beirut resident Kahier Bannout, 42, said it was "supposed to be a safe area -- not a war zone". "EveryoneÂ is afraid." Lebanon's Health Minister Firass Abiad said more than 1,000 people have been killed since September 17. UN refugee agency chief Filippo Grandi said: "Well over 200,000 people are displaced inside Lebanon", while more than 100,000 have fled to neighbouring Syria. 'Little time'Â France on Monday evening said it was deploying a naval ship to Lebanon as a "precaution" in case it decided to evacuate French citizens. Foreign Minister Jean-Noel Barrot, the first high-level diplomat to visit Beirut since the Israeli strikes intensified, said "there is still hope" for a ceasefire, "but there is little time". US Secretary of State Antony Blinken said diplomacy was the best path forward for the region. Washington "will continue to work... to advance a diplomatic resolution" for the Israel-Lebanon border, and for a Gaza ceasefire and hostage-release deal, he said. The United States, Qatar and Egypt tried for months to broker such a deal, which Netanyahu's domestic critics accused him of obstructing. In Gaza, AFP journalists said the number of Israeli air strikes has dropped significantly in recent days. A UN Satellite Centre assessment issued Monday said "two-thirds of the total structures in the Gaza Strip have sustained damage" in nearly a year of war. Hamas's October 7 attack on IsraelÂ resulted in the deaths of 1,205 people, mostly civilians, according to an AFP tally based on IsraeliÂ official figures that include hostages killed in captivity. Israel's retaliatory military offensive has killed at least 41,615 people in Gaza, most of them civilians, according to figures provided by the Hamas-run territory's health ministry. The UN has described the figures as reliable.	2024-10-01 06:05	2024-10-01	06:05
moneycontrol.com	https://www.moneycontrol.com/news/world/israeli-strikes-hit-beiruts-southern-suburbs-12832932.html	Israeli strikes hit Beirut's southern suburbs	The Israeli military said Tuesday troops have started "targeted ground raids" in villages of southern Lebanon..	At least two Israeli strikes hit Beirutâ€™s southern suburbs late on Monday, a security source said, with Reuters reporters seeing two flashes of light and hearing loud blasts coming from the neighbourhood. The Israeli military had warned an hour earlier that it would strike specific buildings in the typically densely populated southern suburbs, saying armed group Hezbollah was using them as facilities and telling residents to leave. Many residents had fled the area in recent days after a spike in Israeli strikes but ended up sleeping in the streets of the city as shelters were full. Families had toldReutersthey had struggled to find taxis to get them out of the district fast enough. Fears of a ground invasionÂ spiked on Monday, with Lebanese troops pulling back from the border with Israel and a US official saying Israeli soldiers looked set to enter Lebanon.	2024-10-01 05:55	2024-10-01	05:55
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/trading-plan-will-nifty-take-support-at-25700-bank-nifty-hold-52500-12832928.html	Trading Plan: Will Nifty take support at 25,700, Bank Nifty hold 52,500?	Nifty Trading Strategy.Related stories.	The Nifty and Bank Nifty recorded bearish candlestick pattern formations with a gap-down opening, falling sharply along with a negative crossover in the momentum indicator RSI (Relative Strength Index) on September 30. As a result, experts anticipate further selling pressure in the upcoming sessions. The Nifty 50 may find support at 25,700 on a closing basis, but if this level fails, 25,500 could act as a crucial support. However, on the higher side, 26,000 is likely to be a key hurdle for the index. The Bank Nifty needs to defend the 52,500-52,400 support area on a closing basis, while 53,500 is expected to act as a resistance on the upside. On Monday, the Nifty 50 plunged 368 points, or 1.4 percent, to 25,811, while the Bank Nifty dropped 856 points, or 1.6 percent, to 52,978. On the NSE, 1,536 shares declined, while 988 shares advanced. Nifty Outlook and Strategy Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities Technically, the Nifty has retraced almost 50 percent of its previous upward move (from the September 18 low to the September 27 high), making 25,800 to 25,750 an immediate support range, with 26,000 serving as immediate resistance. In the next few sessions, the 25,750 to 26,000 levels will be critical to monitor. The momentum indicator MACD (Moving Average Convergence Divergence) is in buy mode on both daily and weekly charts, though it has entered sell mode on the hourly charts. This suggests that the current correction may be short-lived and likely to reverse once it finds support, as the medium-term positional trend remains upward and intact. From a derivatives perspective, the 26,000 strike has seen the highest Call additions, and there has been significant Put unwinding between the 26,000 to 26,300 strikes. On the Put side, 25,800 is an immediate support level, as it has witnessed some additions, but Call writers currently hold an advantage for the upcoming weekly expiry. The PCR (Put Call Ratio) is at 0.67, indicating bearishness. The maximum pain and modified maximum pain levels are at 25,950 and 25,823, respectively, and the index is trading below these levels, which is another bearish signal. Therefore, both technically and from a derivatives standpoint, the short-term trend appears to be sideways to negative, though the positional trend remains positive, as long as 25,300 holds. Key Resistance: 26,000, 26,200 Key Support: 25,800, 25,750, 25,600 Strategy: Buy on dips near 25,750, with a stop-loss at 25,600 and a target of 26,000. Pravesh Gour, Senior Technical Analyst at Swastika Investmart The Nifty has formed an Evening Star-like candlestick pattern on the daily chart, indicating a bearish reversal. This pattern consists of three candles: a large bullish candle, a small-bodied candle, and a bearish candle. The Nifty is currently trading around 25,800, which acts as an immediate support level at the 9-DMA. Below this, the 20-DMA at 25,500 will serve as important support in case of further corrections. On the upside, 26,000 and 26,150 have now become crucial resistance levels. Key Resistance: 26,000, 26,150, 26,277 Key Support: 25,800, 25,500 Strategy: Consider selling on rallies near 26,000, with a stop-loss at 26,150 and a target of 25,500. Rohan Shah, Technical Analyst at Asit C Mehta Investment Interrmediates After three consecutive weeks of upward momentum, the Nifty reacted sharply lower upon reaching the Potential Reversal Zone (PRZ) of a bearish ABCD Harmonic Pattern on the daily chart. The selling pressure was broad-based. Currently, the market lacks leadership from heavyweight stocks, and with the index being overbought across all time frames, itâ€™s likely that the bearish momentum may extend further in the coming sessions. Overall, the price structure remains bullish, so any dip should be seen as a buying opportunity. In the past, the index has found support around the 20- and 50-day EMAs (Exponential Moving Averages), and we expect any dips toward these levels to present fresh buying opportunities. Key Resistance: 26,000, 26,300 Key Support: 25,550, 25,300 Strategy: Utilize dips toward 25,550-25,500 as a buying opportunity, with a stop-loss below 25,300 and a target of 26,000-26,300. Bank Nifty - Outlook and Positioning Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities There has been long unwinding in several strong private sector banks, contributing to the Bank Nifty's weakness. The momentum indicator MACD remains in buy mode on both daily and weekly charts, though it has entered sell mode on the hourly charts. In the derivatives market, there has been substantial Call writing from the 53,000 to 54,000 strikes, with significant Put unwinding between the 53,500 and 54,000 levels. The PCR is at 0.58, indicating bearishness, but it is approaching oversold territory, typically in the range of 0.50 to 0.45. If it reaches oversold levels during the weekly expiry, a sharp bounce due to short covering could occur. Therefore, while the short-term trend is negative, the positional trend is positive, and a near-term bounce cannot be ruled out. Key Resistance: 53,500, 53,700 Key Support: 52,800, 52,500 Strategy: Buy on dips near 52,750, with a stop-loss at 52,500 and a target of 53,300-53,500. Pravesh Gour, Senior Technical Analyst at Swastika Investmart There was heavy profit booking around the 54,500 level, breaking the important support at 53,350 on the daily chart. The Bank Nifty's structure has become distorted. Immediate support levels are at 52,900 and 52,500, while bullish momentum may persist as long as the index stays above 53,000. On the upside, resistance is marked at 53,500, 54,000, and 54,500. Key Resistance: 53,500, 54,000 Key Support: 52,900, 52,500 Strategy: Consider selling on rallies near 53,500, with a stop-loss at 54,000 and a target of 52,500. Rohan Shah, Technical Analyst at Asit C Mehta Investment Interrmediates The Banking Index traded in sync with the benchmark index and faced selling pressure from all-time highs, aligning with the 1.27 percent external retracement level of its prior decline (53,357-49,655). We expect the downside momentum to continue toward 52,600 and 52,100, which coincides with short-term moving averages and key Fibonacci retracement levels. Overall, the banking index has been trading in an upward-sloping channel for several months, and based on recent price action and momentum indicators, we view the current decline as normal profit-taking. Dips toward these support levels would present fresh buying opportunities. Key Resistance: 53,600, 54,350. Key Support: 52,600, 52,100 Strategy: Buy around the support zone of 52,600-52,500, with a stop-loss below 52,100 and a target of 53,600.	2024-10-01 01:50	2024-10-01	01:50
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/trade-spotlight-how-should-you-trade-aditya-birla-capital-indraprastha-gas-kims-pcbl-jindal-steel-and-others-on-tuesday-12832919.html	Trade Spotlight: How should you trade Aditya Birla Capital, Indraprastha Gas, KIMS, PCBL, Jindal Steel and others on Tuesday?	Top Buy Ideas.Related stories.	Bears gained more strength for another session, pushing the Nifty 50 down by 368 points on September 30. The breadth was negative, with 1,536 shares declining against 988 shares advancing on the NSE. Given the weak sentiment, the index is expected to sustain its downtrend in the upcoming sessions. Below are some trading ideas for the near term: Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities Indraprastha Gas\| CMP: Rs 558.55 Indraprastha Gas has provided a breakout from a symmetrical triangular pattern with a bullish crossover in its daily as well as weekly MACD (Moving Average Convergence Divergence). It has closed above its maximum pain and modified maximum pain levels of Rs 550 and Rs 555, respectively. A close above Rs 560 will further fuel upward momentum, as the Rs 560 strike has the highest Call base. The stock has bounced back due to short covering and now has provided a breakout with long additions, indicating that the uptrend is likely to continue. Strategy: Buy Futures Target: Rs 580, Rs 595 Stop-Loss: Rs 547 Jindal Steel & Power\| CMP: Rs 1040 Jindal Steel has been consolidating and is in the process of forming a symmetrical triangular pattern in its wave 4. Following this, an upward breakout is likely in its wave 5, which will take prices to the upper end of the rising channel. The momentum indicator MACD has turned bullish on the daily charts, indicating that the short-term trend is sideways to positive. From a derivatives point of view, there is heavy Call writing in the range of Rs 1,040 and Rs 1,060 levels, above which short covering is likely. There is a strong buildup on the Put front from Rs 1,000 to Rs 960 strikes, indicating that the stock may find good support at lower levels. The stock is trading above its modified maximum pain levels of Rs 1,021 and around its maximum pain level of Rs 1,040. So, above the Rs 1,040 and Rs 1,060 strikes, the stock is likely to see further uptrend, eventually breaking out of this consolidation. Strategy: Buy Futures Target: Rs 1,080, Rs 1,100 Stop-Loss: Rs 1,019 Chambal Fertilisers and Chemicals\| CMP: Rs 529.5 Chambal Fertilisers has provided a breakout from a falling trendline. The momentum indicator MACD has turned bullish from the zero-reference line on the daily charts. From a derivatives point of view, the stock has seen strong Put additions from Rs 450 to Rs 530 strikes, while Rs 530 to Rs 550 strikes also witnessed good additions on the Call front. Once the range of Rs 530 to Rs 550 is cleared, there will be a clear uptrend in the stock. Based on the technical breakout, Put additions, and bullish crossover in its momentum, the probability of an upward breakout from a derivatives point of view is also higher. Strategy: Buy Futures Target: Rs 557, Rs 570 Stop-Loss: Rs 516 Pravesh Gour, Senior Technical Analyst at Swastika Investmart PCBL\| CMP: Rs 577.6 On a longer horizon, PCBL is exhibiting traditional bullish momentum, forming higher highs and higher lows. It has broken out of an upward channel formation pattern. The counter has a lucrative structure as it is trading above all significant moving averages. The momentum indicator RSI (Relative Strength Index) is positively poised, while MACD is witnessing a centerline crossover on the upside. On the higher side, Rs 600 is acting as an important psychological level; above this, we can expect the level of Rs 660+ in the near short term. On the lower side, Rs 520 will act as major support during any correction. Strategy: Buy Target: Rs 660 Stop-Loss: Rs 520 Century Textiles and Industries\| CMP: Rs 2,850 Century Textiles has broken a triangle formation on the daily chart and shows a strong bullish setup, having retested its previous breakout level of Rs 2,700 after reaching a fresh all-time high. The overall structure appears lucrative, as the stock is trading above all of its moving averages. On the upside, Rs 2,900-2,940 are key resistance levels, and a breakout above this zone could lead to a move towards Rs 3,000+ in the short to long term. On the downside, Rs 2,690 serves as important support during any potential correction. Strategy: Buy Target: Rs 3,084 Stop-Loss: Rs 2,690 Krishna Institute of Medical Sciences\| CMP: Rs 556.55 KIMS is again gaining momentum after building a strong base at the Rs 540 mark. On the weekly chart, we can observe a breakout from a Flag formation. Now, the 20-DMA (Days Moving Average) of Rs 540 is an important support level. On the upside, Rs 580 is an immediate horizontal resistance line; above this, bullish momentum may take it towards the Rs 600+ mark. The stock is trading above all of its important moving averages with a positive bias in momentum indicators. Strategy: Buy Target: Rs 600 Stop-Loss: Rs 530 Rohan Shah, Technical Analyst at Asit C Mehta Investment Interrmediates Aditya Birla Capital\| CMP: Rs 237.5 On the daily scale, Aditya Birla Capital registered a breakout from an Inverted Head & Shoulders price pattern with noticeable volumes. Despite recent weakness in the broader markets, the stock managed to hold strong, highlighting inherent strength in price. Based on the price pattern and volume activity, we expect the price to surpass its previous swing high. Strategy: Buy Target: Rs 258 Stop-Loss: Rs 227 SRF\| CMP: Rs 2,498 SRF has been trading sideways for many months, with Rs 2,700-2,800 acting as resistance, while the 100-week EMA is providing key support. Recently, the price has witnessed buying momentum from the 100-week EMA, with strong, noticeable volumes and high delivery readings. The momentum indicator RSI, trading above the 50 reading and giving a positive moving average crossover, complements the bullish bias on price. Strategy: Buy Target: Rs 2,750 Stop-Loss: Rs 2,360	2024-10-01 01:24	2024-10-01	01:24
moneycontrol.com	https://www.moneycontrol.com/news/world/israel-conducting-limited-ground-operations-against-hezbollah-informs-us-12832918.html	Israel informs US of 'limited' ground operations against Hezbollah in Lebanon	After two weeks of intensive airstrikes and a string of assassinations of Hezbollah commanders, Israel has suggested ever more strongly that a land invasion is looming..	Israel has told the United States it is conducting limited ground operations focused on Hezbollah infrastructure in Lebanon near the border with Israel, the State Department said on Monday. "This is what they have informed us that they are currently conducting, which are limited operations targeting Hezbollah infrastructure near the border," State Department spokesperson Matthew Miller told reporters. Asked to confirm they were limited ground operations, he said: "That is our understanding."The Pentagon has announced that a Force of U.S. Military Personnel numbering several Thousand, is preparing for Immediate Deployment to the Middle East, in order to Boost Security in the Region and if necessary, assist in the Defense of Israel.OSINTdefender (@sentdefender)September 30, 2024 Indications grew on Monday that Israel was on the verge of sending ground troops into Lebanon, two weeks into an assault on the Iranian-backed Hezbollah militia that culminated in the assassination of its leader, Sayyed Hassan Nasrallah. A US official who spoke on condition of anonymity told Reuters the positioning of Israeli troops suggested a ground incursion could be imminent. After two weeks of intensive airstrikes and a string of assassinations of Hezbollah commanders, Israel has suggested ever more strongly that a land invasion is looming. The Israeli attacks on militant targets in Lebanon are part of a conflict stretching from the Palestinian territories of Gaza and the occupied West Bank to Iranian-backed groups in Yemen and Iraq. The escalation has raised fears that the United States and Iran will be sucked into the conflict. Miller said that the United States continues to support a ceasefire between Israel and Hezbollah but added that military pressure can at times enable diplomacy. He cautioned that military pressure can also lead to miscalculation and unintended consequences.	2024-10-01 00:50	2024-10-01	00:50
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/stock-radar-bank-of-maharashtra-tata-power-unichem-labs-alphageo-india-spicejet-in-focus-on-tuesday-12832914.html	Stock Radar: Bank of Maharashtra, Tata Power, Unichem Labs, Alphageo India, SpiceJet in focus on Tuesday	Stocks in News.Related stories.	Let's catch up on the latest news from the stock market. From significant investments to major deals, fund raising and appointments, hereâ€™s a quick look at which stocks will be in focus in today's trade: Stocks To Watch Bank of Maharashtra The public sector lender launched its Qualified Institutions Placement (QIP) issue on September 30. The floor price has been fixed at Rs 60.37 per share. The issue size is expected to be Rs 3,500 crore, reports CNBC-TV18, quoting sources. NTPC Subsidiary NTPC Green Energy has signed a Memorandum of Understanding (MoU) with the Rajasthan Government for the development of 25 GW of renewable energy projects in Rajasthan. Tata Power Company The company has signed a Memorandum of Understanding (MoU) with the Rajasthan Government for an investment plan of Rs 1.2 lakh crore in renewable energy projects, and manufacturing, transmission, distribution, nuclear power, rooftop installations, and EV charging. Tata Consumer Products Vikram Grover has resigned as MD and CEO of Nourishco Beverages, effective September 30. Nourishco Beverages merged with Tata Consumer. Indian Railway Catering and Tourism Corporation The Board has appointed Gaisingam Kabui, GGM (Finance), as Chief Financial Officer (CFO) of the company, effective October 1. The Ministry of Railways has conveyed that Rabindra Nath Mishra (IRAS, EDF/C&PPP, Railway Board) may be entrusted with the additional charge of Director (Finance) in IRCTC, effective October 1. Andhra Cements The Board has approved the Draft Letter of Offer for the rights issue amounting to Rs 180 crore. The company has filed the Draft Letter of Offer with the Securities and Exchange Board of India, BSE, and the National Stock Exchange of India for approval of the rights issue. Zuari Industries Shareholders have approved the re-appointment of Athar Shahab as the Managing Director of the company for 3 years, effective November 14, and Alok Saxena as Whole-time Director of the company for 2 years, effective July 1. India Glycols The company has added further capacity of 100 KLPD to its existing grain-based distillery, 180 KLPD to the existing bio-fuel ethanol plant, and 2,500 MT per year capacity for new value-added chemical products at Kashipur, Uttarakhand. Additionally, work on expanding grain-based distillery capacity by 180 KLPD and the bio-fuel ethanol plant by 90 KLPD at Gorakhpur, Uttar Pradesh is in progress, and the same is expected to be commissioned by Q4FY25. Unichem Labs The company has signed an asset purchase agreement with Bayshore Pharmaceuticals, USA. Bayshore USA will sell its product approvals and all goodwill associated with 9 USA ANDAs, and generics formulations marketing/distribution business in the US market (Unichem Pharmaceuticals, USA) as a going concern (through slump sale or transfer of the entire business (debt-free) and goodwill associated with the business) to Unichem Labs, for $2.65 million and $10 million, respectively. Bayshore USA is a step-down subsidiary of Unichem's parent company Ipca Laboratories. Piramal Pharma Subsidiary Piramal Pharma Solutions has announced an $80 million investment plan to expand its sterile injectables facility in Lexington, Kentucky. Alphageo India The company has received a contract worth Rs 131.63 crore from Oil India (Duliajan, Assam) for 2D seismic data acquisition in the Ganga-Punjab basin. Premier Explosives Srihari Pakalapati has resigned from the post of Chief Financial Officer (CFO) of the company due to personal reasons, effective September 30. Blue Dart The logistics company announced its general price increase, effective January 1, 2025. The average price increase will range between 9 percent and 12 percent. Customers signing up between October 1 and December 31, 2024, will not be impacted by the price increase. Bulk Deals Cyient DLM HDFC Mutual Fund bought a 0.5% stake in the company at an average price of Rs 667 per share, while Morgan Stanley Asia Singapore Pte - ODI sold a 0.54% stake in the company at the same price. Hindustan Oil Exploration Company BofA Securities Europe SA bought a 0.54% stake in HOEC at an average price of Rs 230 per share. However, Ramasamy Jeevanandam sold a 0.6% stake in HOEC at an average price of Rs 230.05 per share. SpiceJet Plutus Wealth Management LLP bought a 0.66% stake in the airline company at an average price of Rs 59.95 per share, amounting to Rs 50.95 crore. Results Today Shree Tirupati Balajee Agro Trading Company Stock Trades Ex-Date for Split Integrated Industries F&O Ban Balrampur Chini Mills, Bandhan Bank, Hindustan Copper, RBL Bank	2024-10-01 00:12	2024-10-01	00:12
moneycontrol.com	https://www.moneycontrol.com/news/business/banks/mc-exclusive-uday-kotak-is-my-greatest-strategic-asset-says-ashok-vaswani-md-kotak-mahindra-bank-12832904.html	MC Exclusive \| Uday Kotak is my greatest strategic asset, says Ashok Vaswani, MD, Kotak Mahindra Bank	Ashok Vaswani, MD & CEO, Kotak Mahindra Bank.Related stories.	"People spend millions of dollars on coaches and consultants. I'm getting it for free," said Ashok Vaswani, the managing director and chief executive of Kotak Mahindra Bank, describing his relationship with Uday Kotak, the founder and largest shareholder of the bank. Speaking to Moneycontrol, Vaswani said he told Kotak before assuming the corner office at 27, Bandra Kurla Complex, Kotak Mahindra Bank's headquarters, that whenever he needed anything, he would seek help from Kotak. Vaswani was also very appreciative of Kotak's contribution to the bank. "It's not easy (for Kotak) to walk away from something you've built over a long period of time. You must give him huge credit for being able to do that. He doesn't sit in the building, and he's just like any other director, though obviously, he is far more informed". "He is my greatest strategic asset," Vaswani said, referring to Kotak's encyclopaedic knowledge of the organization he founded in 1985 and his knowledge of the sector. Kotak Mahindra Bank received a banking licence in 2004. Speaking about the induction process, Vaswani said he did not know Kotak. "I did not know Uday before. Therefore, I told him that when I need something, from the firm's point of view, I'm going to knock on your door," he said. While Kotak and Vaswani are alumni of Mumbai's renowned Sydenham College of Commerce and Economics, they got to know each other when the bank zeroed in on Vaswani sometime in 2023 to succeed Kotak as the MD & CEO. "He was a year or two senior to me (in college) but I did not know him at all. I met him during the (recruitment)process. I used to be in New York. We met physically some three or four times, but virtually, every Sunday, we spent a lot of time talking about the bank. We spoke about what we could do and where we would take things. It was quite a fascinating process". Interestingly, Vaswani explained that when he joined, he had a set of hypotheses about Kotak Bank and would constantly refer back and check on it. "Now that has become like the Bible for us at Kotak. When we get to the next level of granularity, you see it all come to life," he said with confidence. That brought us to the next question: Does Vaswani operate the bank with a fair degree of freedom? This question is in the minds of many people who have been closely watching the bank. Vaswani was quick to reply that there is only one neck to choke, and it is his. "Why would he get me here if he didn't give me the freedom? We obviously have structured meetings, and hopefully, I've kind of built that relationship that I can pick up the phone and talk to him and say, this is what I'm thinking about it". In September 2023, Uday Kotak ended his 18-year-long association with the bank as its MD and CEO and assumed the role of a non-executive, non-independent board member. Over a month later, the Reserve Bank of India approved the appointment of Vaswani to take over from Kotak. While Vaswani's banking career spans 35 years, between Citibank and Barclays, Kotak Mahindra Bank is his first stint with an Indian bank. When asked if his assessment of the bank before he took the job turned out right, "I would say for the most part of it, the assessment was spot on", he added while adding that on technology-related aspects, it has turned out to be a little tougher than he expected.	2024-10-01 00:03	2024-10-01	00:03
moneycontrol.com	https://www.moneycontrol.com/news/business/banks/mc-exclusive-will-look-at-every-inorganic-opportunity-ashok-vaswani-md-ceo-kotak-mahindra-bank-12832899.html	MC Exclusive \| Will look at every inorganic opportunity: Ashok Vaswani, MD & CEO, Kotak Mahindra Bank	Ashok Vaswani, MD & CEO, KOtak Mahindra Bank.Related stories.	Affirming that inorganic options will remain an integral part of the bankâ€™s strategy to grow scale, Ashok Vaswani, managing director and CEO of Kotak Mahindra Bank, said every single opportunity will be pursued. When asked about the ongoing sale of IDBI Bank, Vaswani said the same logic would hold. Speaking to Moneycontrol, Vaswani said Kotak Mahindra Bank is clear that it needs to scale up. â€śScaling is going to come both organically and inorganically. Every single opportunity inorganically, weâ€™re going to look at it, and thereâ€™s no question about it,â€ť he affirmed. He was, however, categorical in asserting that the acquisition targets need to gel with the bankâ€™s strategic objectives and should make sense financially. â€śThatâ€™s true of IDBI, and thatâ€™s true of any other opportunity that comes alongâ€ť. To put things in context, the Life Insurance Corporation of India (LIC) and the government initiated the divestment process at IDBI Bank in October 2022.Â Several investors submitted letters of intent in early 2023. According to media reports, Canadian private equity major Fairfax, Kotak Mahindra Bank and Middle Eastâ€™s Emirates NBD are seen as top contenders to pick up the 60 percent stake which has been placed for divestment. While media reports suggest that the Reserve Bank of India may have cleared a few names, including the three potential investors, for the purpose of divestment, Vaswani did not want to comment further on the matter. â€śIâ€™m not even sure where we are in the process,â€ť he said. Kotak Mahindra Bank, valued at approximately $44 billion (Rs 3.59 lakh crore), has retained its position as the fourth largest private bank since its acquisition of ING Vysya Bank in an all-stock deal in 2015. It is anticipated that the stake sale in IDBI Bank may conclude by March 2025. When asked if Kotak Mahindra Bank is exploring other options, Vaswaniâ€™s response was that valuations of potential acquisition targets are rich now. â€śI honestly look at all kinds of opportunities. We looked at an opportunity and just closed a microfinance company. Right now, valuations are very richâ€ť. In February last year, Kotak Mahindra Bank concluded the acquisition of Sonata Finance Pvt Ltd, a lender focused on microfinance loans, for a consideration of Rs 537 crore.	2024-10-01 00:02	2024-10-01	00:02
moneycontrol.com	https://www.moneycontrol.com/news/india/land-allotment-controversy-siddaramaiahs-wife-offers-to-return-14-sites-to-muda-12832913.html	Land allotment controversy: Siddaramaiahâ€™s wife offers to return 14 sites to MUDA	Karnataka CM Siddaramaiah.	Karnataka Chief Minister Siddaramaiahâ€™s wife Parvathi has written to MUDA Commissioner expressing her willingness to return the 14 sites in the Mysuru upmarket. In a letter to the Mysuru Urban Development Authority (MUDA) Commissioner she said she was allotted the 14 alternative sites in the third and fourth phase of Vijayanagar in Mysuru against the usage of her three acres and 16 Guntas of land in Kesare village under Kasaba Hobli in Mysuru. â€ťI am willing to return the 14 sites by way of cancelling the sale deed. I want MUDA to acquire these sites. I request you to take step in this direction at the earliest,â€ť Parvathi said in her letter. The letter comes against the backdrop of Karnataka Lokayukta police registering a case against Siddaramaiah on the directions of a special court in connection with the land allotment.Incidentally, the Enforcement Directorate on Monday booked the CM, Parvathi and some others in a money laundering case linked to the land allotment case, taking cognisance of the Lokayukta FIR.	2024-09-30 23:18	2024-09-30	23:18
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/sebi-approves-amendments-to-summary-proceedings-for-handling-violations-by-intermediaries-12832331.html	SEBI approves amendments to summary proceedings for handling violations by intermediaries	The regulator met with its Board on September 30..Related stories.	Market regulator SEBI has approved amendments to reintroduce summary proceedings and make it easier to handle violations by intermediaries, when such violations are apparent. This announcement was made post SEBI's board meeting on September 30. In a release, the regulator noted that "in order to handle cases of certain violations of securities laws by intermediaries, in an expeditious and more efficient manner, the Board approved amendments to the SEBI (Intermediaries) Regulations, 2008 for inclusion in the provisions for summary proceeding". As per the regulator, the provisions would "enhance the board's ability to act in an efficient manner in protecting the interest of investors and would be applicable in situations such as expulsion as a member by stock exchange or clearing corporation, termination of depository participant agreements by depository, claim(s) of return or performance which are not permitted by the Board, non-payment of specified fees to the Board or to such body as may beÂ specified andÂ non traceability of a person at its physical address and email address amongst others". Also read:SEBI board meeting: Slew of decisions announced but mum on Madhabi Puri Buch and F&O framework Further, the regulator noted that a Standard Operating Procedure (SOP) would be put in place to ensure that "principles of natural justice are followed and the outcome of the summaryÂ proceeding is proportionate to the nature of violation". In July this year, SEBI had released a consultation paper proposingÂ summary proceedings for minor violations by market intermediaries. According to the consultation paper, the goal was to streamline the resolution process.	2024-09-30 23:17	2024-09-30	23:17
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/sebi-board-meeting-slew-of-decisions-announced-but-mum-on-madhabi-puri-buch-and-fo-rules-12832853.html	SEBI board meeting: Slew of decisions announced but mum on Madhabi Puri Buch and F&O framework	..Related stories.	The board of the capital markets regulator Securities and Exchange Board of India (SEBI), which met on Monday, approved a slew of changes in rules governing primary and secondary markets along with mutual funds and FPIs but kept mum on any matter related to disclosures & conflict of interest related to chairperson Madhabi Puri Buch. There was also no announcement related to the derivatives segment, which was keenly awaited by the markets. This assumes significance as this was the first board meeting of the capital markets watchdog after Buch came under attack with Hindenburg making serious allegations against the chairperson on August 10.Â Subsequently, Congress spokesperson Pawan Khera levelled a series of charges against her. Among other things,Khera alleged that Buch received income from ICICI Bankduring her tenure as capital markets regulator chief, raising fresh scrutiny about potential conflict of interest. Meanwhile, the SEBI board was also mum on any decisions related to the F&O segment even as it was highly expected that the board would take a final call on strengthening the index derivatives framework. Once rolled out, this new framework is expected to have a significant impact on the securities market,Âputting an end to the gambling-like trading behaviourthat had taken off with daily expiries of index-derivative contracts. On July 30, SEBI floated a consultation paper that proposed a framework under which there would only be weekly expiries of these derivatives contracts (one index-based weekly contract per stock exchange), the minimum contract valueÂ would be increased to Rs 15-20 lakh at launch and thenÂ later to Rs 20-30 lakhÂ (to deterÂ retail investors), strike prices would be rationalised, and so on. Since both the finance minister Nirmala Sitharaman and Buch have commented on the urgency to act on the trading behaviour in the F&O or futures and options segment and since the submission deadline for public comments was more than a month agoâ€”on August 20â€”it was highly expected that the SEBI board would deliberate on the framework in the meeting and arrive at a decision. Meanwhile, in a 23-pages release issued late on Monday, the board of the capital markets regulator said thatÂ it has approved an ASBA-like mechanism for the secondary market, enhanced the scope of T+0Â settlement cycle, eased the compliance requirements for Investment Advisors/Research Analysts, enabled faster rights issue process withÂ flexibility of allotment to specific investors, and gave the final go-ahead for the 'New Asset Class' among other things. The market regulator has mandated that qualified stock brokers, whichÂ include some of the biggest broking firms in terms of trading volume and client funds,Âeither provide UPI-block mechanism, or ASBA like facility for secondary market, or the three-in-one trading account facility from February 1, 2025. A three-in-one trading accountÂ is a combination account thatÂ has a savings account, demat account and trading account. The regulator said that clients can either choose these options orÂ continue with the existing facility of trading by transferring funds to Trading Members (TMs). The UPI block mechanism refers to a system wherein investors can trade in the secondary markets by blocking funds in their bank account instead of transferring them upfront to their broking firm.Â The money would be debited from the bank account only when the shares are credited in the demat account of the investor. The regulator has alsoÂenhanced the scope of optional T+0 settlement cycleby deciding that the number of stocks eligible for trading under optional T+0 settlement will be increased in a phased manner from the current 25 to top 500 in terms of market capitalisation. "All registered Stock Brokers can offer access to the optional T+0 settlement cycle to their investors. Stock Brokers are free to charge differential brokerage for the same," stated the SEBI release. The board of the capital market regulator, which met on Monday, alsogave the final go-ahead for the new productwith the minimum ticket size pegged at Rs 10 lakh per investor across all investment strategies of the new product in a particular AMC. "Offerings under the new product will be referred to as â€˜Investment Strategiesâ€™, to maintain clear distinction from the schemes offered under the traditional Mutual Funds. The minimum investment limit for the new product will be INR 10 lakh per investor across all investment strategies of the new product in a particular AMC. The new product is intended to add depth and variety to the investment landscape of the country through a new asset class," stated a release issued by SEBI on Monday. The market regulator has alsoeased the norms for faster rights issue, which is meant to be more appealing than the current market favourite -- preferential allotment route.Â This new route can be completed in 23 days from the issuer's board meeting approving the rights issue, versus the present timeline of 317 days, and faster than the 40 working days needed for completion of preferential allotment. The board also cleared the much awaitedÂ liberalisedMutual Funds Lite (MF Lite) framework for passively managed schemes of mutual funds. As per the SEBI release,Â under theÂ MF Lite framework there would be a series of relaxed regulatory requirements designed to facilitate easier entry into the mutual fund market. The first being eligibility criteria for sponsors. Under the framework,Â the barriers related to net worth, track record, and profitability would be lowered, allowing more entities to enter the mutual fund space. Secondly, simplified responsibilities for trustees are expected to ease compliance burdens and encourage new market participants. Third, in regards to approval process and disclosures, the amendments would allow for streamlining the approval process and reducing the disclosure obligations for passive schemes, making it less cumbersome for asset management companies (AMCs) to operate in this segment. SEBI alsoannounced changes to regulations governing ODI(Offshore Derivative Instruments) disclosures. The regulator said that a monitoring and compliance mechanism will be established to ensure that ODI-issuing Foreign Portfolio Investors (FPIs) submit relevant information about ODI subscribers to the depositories, as well as segregated portfolio-level information to the Designated Depository Participant (DDP) or Custodian. Additionally, non-compliance with these disclosure requirements will result in the redemption of ODIs or liquidation of segregated portfolios within 180 days. Defaulting ODI subscribers will be ineligible to subscribe to or hold any positions through ODIs from any ODI-issuing FPI. On a different note, the market regulator hasÂ given more time to report certain material events, has said that disclosures relating toÂ tax litigations and disputes need to be made based on materiality, and has made disclosure of fines or penalties mandatory only if it crosses a threshold as against disclosure of all fines/penalties within 24 hours. SEBI has announced theseease-of-doing business measuresunderÂ Listing RegulationsÂ (LODR Regulations) and Capital Issue Regulations (ICDR Regulations). Meanwhile, the market regulatorÂ will now accepta recognised degree fromÂ a foreign universityor institution in finance or law or accountancy or business management for grant of certificate of registration for merchant banker. Until now, under SEBI (Merchant Bankers) Regulations, 1992, only those withÂ professional qualification from a government-recognised Indian institution could apply for the registration.	2024-09-30 23:16	2024-09-30	23:16
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/sebi-approves-investor-friendly-and-uniform-norms-for-nomination-facilities-12832879.html	SEBI approves "investor-friendly and uniform norms" for nomination facilities	The Board also approved consistent norms for nominations across demat accounts and mutual fund investments..Related stories.	The Securities and Exchange Board of India (SEBI), in its board meeting held on September 30, has approved amendments to the SEBI (Mutual Funds) Regulations, 1996, and the SEBI (Depositories and Participants) Regulations, 2018. According to the regulator, the goal of these amendments isÂ to enhance investor convenience and introduce uniform standards for nomination facilities across the Indian securities market. Key changes include increasing the maximum number of nominees from three to ten, allowing nominees to act on behalf of incapacitated investors with appropriate risk mitigation checks and balances, and simplifying the transmission process to nominees with minimal documentation. Additionally, unique identifiers for nominees will be required, including PAN, passport numbers, or Aadhar numbers. Also read:SEBI board meeting: Slew of decisions announced but mum on Madhabi Puri Buch and F&O framework The Board also approved consistent norms for nominations across demat accounts and mutual fund investments. Some of the provisions include: Nominees will act as trustees for the legal heirs of investors, ensuring that assets are managed responsibly after an investor's death, the rule of survivorship will apply in cases of joint holdings, providing clarity on asset distribution among surviving joint holders as well as specific guidelinesÂ to govern the operation of accounts following the death of the Karta in a Hindu Undivided Family (HUF). Nomination will be optional for joint demat accounts and jointly held mutual fund folios, while any opt-out for singly held accounts will require due confirmation to ensure that the investor's wishes are clearly documented. Additionally, there will be no limit on the number of times a nominee can be changed.	2024-09-30 23:15	2024-09-30	23:15
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/sebi-board-announces-enhancements-to-to-settlement-cycle-number-of-scrips-to-be-increased-12832903.html	SEBI board announces enhancements to T+O settlement cycle; number of scrips to be increased	an optional Block Deal window mechanism will be introduced under the T+0 settlement cycle (operating from 8:45 am to 9 am), alongside the existing block windows under the T+1 settlement cycle..Related stories.	The Securities and Exchange Board of India (SEBI) announced significant enhancements to the optional T+0 settlement cycle following a review of its Beta version and feedback from various stakeholders. This announcement was made post the September 30 board meeting. Firstly, the number of scrips eligible for trading under the optional T+0 settlement cycle will be gradually expanded from the current 25 to include the top 500 stocks based on market capitalization. Secondly, all registered stock brokers will have the opportunity to offer access to the optional T+0 settlement cycle to their clients and are permitted to charge differential brokerage fees for transactions conducted under this expedited settlement cycle. Also read:SEBI board meeting: Slew of decisions announced but mum on Madhabi Puri Buch and F&O framework In order to facilitate seamless participation in the optional T+0 settlement cycle, SEBI has mandated that brokers designated as Qualified Stock Brokers (QSBs) must establish systems to accommodate their clients effectively. Additionally, these QSBs must meet a minimum threshold of active clients to qualify. Custodians are also required to implement the necessary systems. SEBI will provide an appropriate timeframe for implementation, determined through consultations with all relevant stakeholders. Additionally, an optional Block Deal window mechanism will be introduced under the T+0 settlement cycle (operating from 8:45 am to 9 am), alongside the existing block windows under the T+1 settlement cycle. However, the release noted that the earlier proposal to transition from optional T+0 settlement to optional instantaneous settlement is currently not under consideration. The optional T+0 settlement in the equity cash market will also continue to coexist with the existing T+1 settlement cycle.	2024-09-30 23:13	2024-09-30	23:13
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/sebi-will-now-recognise-foreign-university-degrees-for-merchant-bankers-registration-12832905.html	Sebi will now recognise foreign-university degrees for merchant bankers registration	The regulator has excluded promoters' shares from entitlement ratio calculations if they opt out of buy-back and disclosing the same in the public announcement publicly and prominently..Related stories.	The market regulatorÂ will now accept a recognised degree fromÂ a foreign university or institution in finance or law or accountancy or business management for grant of certificate of registration for merchant banker. Until now, under SEBI (Merchant Bankers) Regulations, 1992, only those withÂ professional qualification from a government-recognised Indian institution could apply for the registration. After meeting with its Board, the Securities and Exchange Board of India (Sebi) announcedÂ ease-of-doing business measures for merchant bankersÂ including the following: UnderÂ SEBI (Merchant Bankers) Regulations, 1992 1.Discontinuing the requirement of submitting statement specifying Merchant Bankersâ€™ responsibilities separately. Exempting common Independent Director between Issuer and Merchant Banker from the definition of associate subject to recusal by the said Independent Director in respect of the issue, on both the Issuerâ€™s and the Merchant Bankerâ€™s Boards. Also read:ÂSebi eases LODR and ICDR Regulations; not all tax penalties and fines need to be disclosed henceforth 2.Merchant Bankers acting as an Underwriter would need to fulfil their underwriting obligations before finalizing the basis of allotment i.e. before T+2. UnderÂ SEBI (Bankers to an Issue) Regulations, 1994 1.In addition to managing issue related activities currently permitted under SEBI (Bankers to an Issue) Regulations, 2014, Bankers to an Issue wouldÂ now also be permitted to carry out activities as required under applicable regulations such as open offers, buy-backs and such other activities as may be specified by SEBI. UnderÂ SEBI (Buy-Back of Securities) Regulations, 2018 1.Exclusion of promoters' shares from entitlement ratio calculations if they opt out of buy-back and disclosing the same in the public announcement publicly and prominently. 2.Disclosure of the entitlement ratio on the cover page of the Letter of Offer and providing a link for shareholders to check their buy-back entitlement. 3.Permitting companies to issue shares for subsisting obligations which are convertible during the buy-back period provided disclosures of subsisting obligations and their impact is disclosed in the public announcement	2024-09-30 23:07	2024-09-30	23:07
moneycontrol.com	https://www.moneycontrol.com/news/india/ahead-of-polls-maharashtra-govt-releases-rs-2399-crore-subsidy-to-cotton-soybean-growers-12832906.html	Ahead of polls, Maharashtra govt releases Rs 2,399-crore subsidy to cotton, soybean growers	The scheme provides a subsidy of Rs 5,000 to farmers with a cap of up to two hectares of land.	The Maharashtra government on Monday disbursed Rs 2,399 crore to cotton and soybean growers under a new scheme that provides a Rs 5,000 per hectare subsidy to farmers. Farmers who cultivated cotton and soybean in the 2023 kharif season and had registered themselves on the state governmentâ€™s portal for the same received the subsidy amount directly into their bank accounts. As many as 49,50,000 agriculturists received the subsidy amount, which was directly transferred into their bank accounts, and the total outlay was Rs 2,398.93 crore, said an official from the state agriculture department.Chief Minister Eknath Shinde, his deputies Devendra Fadnavis and Ajit Pawar launched the subsidy scheme, targeted at farmers and unveiled just ahead of the assembly polls which are likely to be held in November. Agriculture Minister Dhananjay Munde was also present on the occasion. The scheme provides a subsidy of Rs 5,000 to farmers with a cap of up to two hectares of land.The agriculture department issued a statement saying there are 96 lakh cultivators of cotton and soybean in the state, of which 68,06,923 were able to upload relevant information on the government portal for subsidy distribution.	2024-09-30 22:56	2024-09-30	22:56
moneycontrol.com	https://www.moneycontrol.com/news/india/rg-kar-case-court-extends-judicial-custody-of-ex-principal-suspended-cop-till-oct-4-12832900.html	RG Kar case: Court extends judicial custody of ex-principal, suspended cop till Oct 4	RG Kar case: Court extends judicial custody of ex-principal, suspended cop till Oct 4.	A Kolkata court on Monday extended the judicial custody of the former principal of RG Kar hospital and a suspended police officer till October 4 in connection with the rape-murder of a trainee doctor at the state-run medical facility. The court also asked the CBI, which is investigating the case, to interrogate Sandip Ghosh and Abhijit Mondal, the suspended officer-in-charge of Tala Police Station, in jail. The central probe agency, during Monday's hearing, had prayed for a three-day CBI custody. The court, however, asked the CBI officers to interrogate the duo in jail, and sent them to judicial custody till October 4. It asked the federal agency to approach the court again in case the accused "did not cooperate" in the interrogation. The CBI had earlier this month arrested Mondal and added charges of evidence tampering against Ghosh, who was in judicial custody after being arrested on September 2 in connection with alleged financial irregularities at RG Kar hospital. Mondal also faces accusations of tampering with evidence, delaying registration of FIR and other related offences. The RG Kar Medical College and Hospital is located in the jurisdiction of the Tala police station in north Kolkata. The body of the post-graduate trainee doctor was found in the seminar hall of the hospital on August 9.	2024-09-30 22:44	2024-09-30	22:44
moneycontrol.com	https://www.moneycontrol.com/news/companies-2/tata-steel-ends-legacy-steelmaking-at-uks-largest-steelworks-12832888.html	Tata Steel ends 'legacy steelmaking' at UK's largest steelworks	Tata Steel said that many of the existing â€śheavy endâ€ť assets, such as blast furnaces and coke ovens, at Port Talbot had reached the end of their operational life (file photo).Related stories.	The Port Talbot plant in South Wales, owned by Tata Steel, reached a significant milestone on September 30, when its Blast Furnace 4 ceased operations after over 100 years, marking an end of "legacy" steelmaking as the UK's largest steelworks transitions towards greener steelmaking. Steelmaking at the site is now set to resume in 2027-2028 as part of a British government-backed investment programme of around GBP 1.25 billion in Electric Arc Furnace-based steelmaking, using UK-sourced scrap steel. The Mumbai-headquartered steel major said it is looking ahead to a â€śbrighter, greener futureâ€ť for the historic site and sustaining more than 5,000 jobs. "I am deeply conscious how difficult today is for everyone associated with our business. Throughout this transition, we are doing everything possible to minimise the impact on all those who are affected by the changes we are making,â€ť Rajesh Nair, CEO of Tata Steel UK, said in a statement. â€śToday marks a significant event in the history of iron and steelmaking in the UK as the legacy steel-making assets in Port Talbot close, having reached their end-of-life. It is important at this juncture, to pause, recognise and credit the huge contribution of the many thousands of people and the technologies that have sustained our industry and communities here for generations,â€ť he said. Tata Steel'sUK chief noted how Port Talbot represents a steel plant where industrial processes and new technologies have been introduced over time to enhance output and set standards for other steelmakers. He added: â€śIn that tradition, we are planning a brighter, greener future through our GBP 1.25 billion investment in low CO2 scrap-based steelmaking, which will sustain more than 5,000 jobs across the UK, and which will also give Tata Steel businesses across the UK a competitive market advantage. â€śI also believe our ability to supply customers with the highest quality low CO2 steels will provide a catalyst for others to co-invest in the South Wales region, and we look forward to future collaborations between business partners, academia, governments and communities that will secure that future.â€ť Tata Steelâ€™s planned GBP 750 million investment in low-CO2 green steelmaking will be augmented by the GBP 500 million Grant Funding Agreement signed off earlier this month with the UK government. The company said that many of the existing â€śheavy endâ€ť assets, such as blast furnaces and coke ovens, at Port Talbot had reached the end of their operational life. Sustaining the current configuration any longer, or further investment in the traditional heavy end, was not economically or environmentally viable, Tata Steel UK pointed out. Following the closures earlier this year of the deep-water harbour, Morfa Coke Ovens, Blast Furnace 5 and Continuous Caster 2, the planned iron and steelmaking asset closures are completed this week with the cessation of the Sinter Plant, Blast Furnace 4 and primary steelmaking, along with some secondary steelmaking and energy systems. Meanwhile, Tata Steel has started to share detailed drawings and virtual reality simulations of the new Electric Arc Furnace (EAF) with local communities, customers and the local planning department. The company also expects to announce the EAF equipment manufacturer in the coming weeks. Some of the secondary steelmaking assets and two remaining continuous casters are being retained for major investments in advance of the start of the EAF. During the transition period, supply chain arrangements are to be in place to serve customers until the EAF is commissioned. Steelworkersâ€™ trade unions, which have undertaken industrial action and talks with the company over this transition, expressed sadness at the end of an era of steelmaking which will result in an estimated 2,800 redundancies. Roy Rickhuss, general secretary of the Community Union, said it was an "incredibly sad and poignant day" for the British steel industry. "Last year, Community and GMB (Union) published a credible alternative plan for Port Talbot which would have ensured a fair transition to green steelmaking and prevented compulsory redundancies. Tata's decision to reject that plan will go down as a historic missed opportunity," he said. Earlier this month, Business and Trade Secretary Jonathan Reynolds told the House of Commons that the Labour government had succeeded in going much further than the previous Tory governmentâ€™s pact with Tata Steel, delivering a minimum voluntary redundancy payout of GBP 15,000 for full-time employees plus a GBP 5,000 â€śretentionâ€ť payment. The pact also includes an offer of paid-for training to give workers a steady income and upskill them for the jobs of the future. The Department for Business and Trade (DBT) had announced that alongside making the largest investment in the UK steel industry in decades, Tata Steel has also committed to work with the government to evaluate new investments in steel.	2024-09-30 22:41	2024-09-30	22:41
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/sebi-eases-lodr-and-icdr-regulations-not-all-tax-penalties-and-fines-need-to-be-disclosed-henceforth-12832881.html	Sebi eases LODR and ICDR Regulations; not all tax penalties and fines need to be disclosed henceforth	Additional time (3 hours instead of 30 minutes) given for disclosure of outcome of the meeting of the board of directors that concludes after trading hours..Related stories.	The market regulator hasÂ given more time to report certain material events, has said that disclosures relating toÂ tax litigations and disputes need to be made based on materiality, and has made disclosure of fines or penalties mandatory only if it crosses a threshold as against disclosure of all fines/penalties within 24 hours. After meeting with its Board on September 30, the Securities and Exchange Board of India (Sebi) has announced ease-of-doing business measures underÂ Listing RegulationsÂ (LODR Regulations) and Capital Issue Regulations (ICDR Regulations. Among them, there wereÂ changesÂ relating to material events/information, including additional time givenÂ for certain material events and adding threshold to the reporting of fines and penalties. Under the new norms, the listed entity need to disclose fines and penalties only if they cross Rs 1 lakhÂ when they are issued byÂ sector regulators / enforcement agencies and only if they cross Rs 10 lakh when they are issued by other authorities. Currently, they have to disclose all fines and penalties within 24 hours. The other ease-of-doing business measures relating to material events/information are as given below: 1.Additional time (3 hours instead of 30 minutes) for disclosure of outcome of the meeting of the board of directors that concludes after trading hours. 2.Additional time (72 hours instead of 24 hours) for disclosure of litigations or disputes involving claims against the listed entity subject to maintaining such information in structured digital database as specified. The other changesÂ include: 1.Introduction of single filing system for listed entities to file relevant reports, documents etc. on one exchange which will be automatically disseminated at the other exchange(s) 2.ntegration of periodic filings into two broad categories viz., Integrated Filing (Governance) and Integrated Filing (Financial), to minimize the number of filings done on a periodic basis. 3.System driven disclosure of shareholding pattern and revision in credit ratings by Stock Exchanges thereby reducing the reporting requirements on listed entities. 4.Detailed advertisement of financial results in newspapers would be optional for listed entities. 5.Providing additional time of 3 months to fill up vacancies in Board Committees at listed entities and to fill up vacancies in Board, Committees and Key Managerial positions at listed entities coming out of the CIRP under Insolvency and Bankruptcy Code, 2016. For entities looking to be listed, following measures were announced: 1.Combining â€˜pre-issue advertisementâ€™ and â€˜price band advertisementâ€™ as a single advertisement and mandating disclosure of certain information through a QR code link. 2.Permitting issuers to voluntary disclose proforma financials for acquisition or divestment already undertaken or proposed to be undertaken from issue proceeds in case of public issue, rights issue and QIPs. 3.Â Allowing issuers with outstanding Stock Appreciation Rights (SARs) to file DRHP where such SARs are granted to employees only and are fully exercised for equity shares prior to the filing of the RHP. 4.Harmonization of the provisions of ICDR and LODR Regulations with respect to thresholds for identification of material subsidiary, disclosures related to material litigation, material agreements, qualifications of compliance officer etc	2024-09-30 22:41	2024-09-30	22:41
moneycontrol.com	https://www.moneycontrol.com/news/business/real-estate/max-estates-sells-rs-4100-crore-worth-housing-properties-within-30-days-of-launch-in-gurugram-12832893.html	Max Estates sells Rs 4,100 crore worth housing properties within 30 days of launch in Gurugram	With this successful launch, Max Estates has revised the guidance for the total Gross Development Value potential of this project to Rs 4,800 crore in FY25..	Realty firm Max Estates Ltd has sold residential properties worth Rs 4,100 crore in the last one month at its new project in Gurugram. Max Estates launched its first residential project in Gurugram named â€™Estate 360â€™ on August 27. â€ťWithin 30 days of the launch, Estate 360 has garnered a pre-sales booking value of around Rs 4,100 crore surpassing the guidance of around 4,000 crore provided by the company for FYâ€™25,â€ť Max Estates said in a statement. With this successful launch, Max Estates has revised the guidance for the total Gross Development Value potential of this project to Rs 4,800 crore in FY25. The project is located at Sector 36A, Dwarka Expressway, Gurugram. The project will also have flats for seniors to be managed by Antara Senior Living with a dedicated healthcare centre open to all residents of the community. Max Estates is the real estate arm of the Max Group.	2024-09-30 22:39	2024-09-30	22:39
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/sebi-eases-rights-issue-compliance-cuts-down-completion-time-to-23-days-from-317-days-12832877.html	Sebi eases rights issue compliance, cuts down completion time to 23 days from 317 days	This mechanism would be even faster than the preferential allotment route that takes 40 working days..Related stories.	The market regulator has eased norms for faster rights issue, which is meant to be more appealing than aÂ current market favourite--preferential allotment route. This new route can be completed in 23 days from the issuer's board meeting approving the rights issue, versus the present timeline of 317 days, and faster than the 40 working days needed for completion of preferential allotment. In a statement released after meeting with its Board on September 30, the Securities and Exchange Board of India (Sebi) stated, "With a view to facilitate ease of doing business, to enable faster Rights Issue along with the flexibility of allotment to specific investors and giving an investment opportunity to existing shareholders, the Board has approved the following5. 1 Rights Issue to be completed in 23 working days from the date of Issuerâ€™s Board Meeting approving Rights Issue, as against present average timelines of 317 days. This mechanism would be even faster than the preferential allotment route that takes 40 working days. In addition, it would give existing shareholders of the company an opportunity to participate even more, in the future potential growth of the company. 2.Discontinuation of the current requirement of filing Draft Letter of Offer with SEBI for issuance of its observation, instead it will be filed with Stock Exchanges for its in-principle approval, as the entity is already a listed entity. Stock Exchanges would confirm that the issuer is in compliance with LODR disclosure requirements. 3.Rationalization of content of Letter of Offer to contain only the relevant incremental information regarding rights issue viz. object of issue, price, record date, entitlement ratio etc 4.Dispensing with the mandatory requirement of appointment of a Merchant Banker by an Issuer and making it optional subject to completion of rights issue within the timeline of 23 working days. Assigning ancillary activities of Merchant Bankers in rights issue to the Issuer company, Registrar to issue and Market Infrastructure Institutions. 5.Stock Exchanges and Depositories to concurrently carry out activities of Registrar to the issue, namely, validation of applications and finalisation of basis of allotment. Further, Stock Exchanges and Depositories to develop a system for automated validation of the applications in a period of six months. 6.Permitting promoters to renounce their rights entitlements to any specific investor(s) and allowing the issuer to allot under-subscribed portion of rights issue to any specific investor(s), provided appropriate disclosures are made through advertisement in this regard. 7.Appointment of Monitoring Agency will be mandatory for all rights issue irrespective of the issue size, to monitor the use of proceeds of the issue 8.Rights Issues of issue size less than 50 crore rupees, have been brought under the purview of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.	2024-09-30 22:18	2024-09-30	22:18
moneycontrol.com	https://www.moneycontrol.com/news/india/chairman-of-vardhman-group-duped-with-fake-supreme-court-hearing-report-12832876.html	Chairman of Vardhman Group duped with fake Supreme Court hearing: Report	Oswal is one of the most high-profile figures to have been embroiled in such a scam.Related stories.	Indian police are investigating an elaborate scam that swindled a prominent businessman out of $830,000 by summoning him to a fake online hearing before Indiaâ€™s Supreme Court and making a threat of jail which caused him transfer the funds. While digital and online frauds are increasingly common in India, a police official of Punjab told Reuters on Monday that duping someone by holding a purported Supreme Court session was unheard of. Details of the case emerged after police said on Sunday they arrested two people on the complaint of S.P. Oswal, the 82-year-old chairman of India's Vardhman Group. Oswal said fraudsters posing as federal investigators approached him as a suspect in a money laundering case. They also organized an online court hearing where someone impersonated India's Chief Justice D.Y. Chandrachud and then he was ordered to deposit his funds in an account as part of the investigation. "They made a Skype call regarding the court hearing ... as per a Supreme Court order I was directed to release all my funds to into a secret supervision account," Oswal told police authorities, according to a case document Reuters reviewed on Monday. The Supreme Court's registrar and Chandrachud's office did not respond to Reuters queries. Oswal also did not respond. Police on Monday said they had recovered $600,000 from the accused, saying it was considered to be India's largest recovery so far in such cases. Oswal's case documents said he was threatened with a so-called digital arrest, a rising trend in India where scammers interrogate people on video calls and blackmail them into making payments for violations of the law that they never committed. India's government in May warned the public that a rising number of cases of "digital arrests" were being reported where cyber criminals sometimes wear police uniforms and pose as law enforcement officers from studios modeled on police stations or government offices. More than 1,000 Skype IDs involved in such activities had been blocked. Oswal is one of the most high-profile figures to have been embroiled in such a scam. He leads a five-decade-old textile company which has a turnover of $1.1 billion and a presence in more than 75 countries.	2024-09-30 22:17	2024-09-30	22:17
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/sebi-eases-norms-for-ras-ias-reduces-educational-qualification-experience-and-networth-requirements-12832736.html	Sebi eases norms for RAs, IAs; reduces educational qualification, experience and networth requirements	The regulator's senior officials have spoken about Sebi's intent to encourage more entities to register..Related stories.	The market regulator has eased compliance norms for research analysts (RAs) and investment advisors (IAs).Â The new norms will haveÂ reduced requirements in educational qualification, experience, refreshing the certificationÂ and networth; and will allow entities to function as both RAs and IAs and to seek registration as part-time RA or IA; and willÂ have guidelines on model portfolios given by RAs. In a press statement issued after meeting with its Board on September 30, the Securities and Exchange Board of India (Sebi) stated, "The Board approved the proposal of review of the regulatory framework forIAs and RAs to facilitate ease of doing business by providing relaxation in eligibility criteria for registration and simplifying the compliance requirements." Some of the key proposals are: Relaxation in eligibility criteria for IAs and RAs: 1.The minimum qualification requirement is to be reduced to graduate degree in specified fields. 2.There shall be no requirement of experience for registration as IA and RAs. 3.IAs/RAs shall be required to have base certifications (NISM SeriesXA and XB for IAs, and NISM-Series-XV for RAs) only initially at the time of registration. There shall be no requirement to obtain base certifications afresh subsequently. However, a certification based on incremental changes/developments would be required. 4.Net-worth requirement shall be replaced with a reduced requirement of deposits, as specified. Ease in compliance requirements of IAs and RAs: 1.Applicants shall be allowed to seek registration as both IA and RA. 2.Â Applicants (individual/partnership firm) engaged in other business activities and employment (other than related to securities and subject to certain conditions), shall be allowed to seek registration as Part-time IA/ Part-time RA. They shall be required to disclose the nature of other activities and shall ensure that there is no conflict of interest between IA/RA activities and their full time business activities. 3.IAs shall have the flexibility to change the modes of charging fees (fixed fee mode or AUA based mode) to clients subject to the fee being within the relevant threshold. Maximum fee has also been prescribed for RAs from their clients. Fee related proofs would apply only to clients other than accredited investors and non-individual clients. 4. The requirement for corporatization by individual IAs has been relaxed. The threshold would now be 300 clients or fee collection of RsÂ 3 crore during the financial year, whichever is earlier as compared with the existing threshold of 150 clients. 5.Proxy advisers shall be exempted from the Research Analyst Administration and Supervision Body (RAASB) framework. Clarifications/changes to align with the evolving nature of the business: 1.Clarity in the scope of investment advice provided by IAs- only Investment advice related to securities under purview of SEBI shall fall under the purview of IA Regulations. 2.Use of Artificial Intelligence in IA and RA services- the responsibility of investment advisory services/research services lies solely withÂ the IA/ RA, irrespective of the scale and scenario of IA/ RA using AI tools. 3.Guidelines for recommendation of model portfolios by RAs. 4.Clarity in applicability of IA and RA Regulations to trading call providers- Trading call providers shall not fall under SEBI (Investment Advisers) Regulations, 2013 and would need to comply with SEBI (Research Analysts) Regulations, 2014, On August 6, the regulator had floated a consultation paper on these changes. The consultation paper was released a few days after Sebi's Whole-Time Member Kamlesh Varshney had discussed this as part of seven-part strategy to manage the increase in the number of finfluencers who operate as unregistered advisors. Varshney was speaking at Ficci's 21st Annual Capital Markets Conference held on August 2. One part of the strategy was to ease norms for registered advisors and analysts, so that it becomes easier for more people to register themselves and come under the regulator's purview.	2024-09-30 22:04	2024-09-30	22:04
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/sebi-announces-expansion-of-definition-of-connected-person-under-insider-trading-regulations-12832423.html	SEBI announces expansion of definition of connected person under insider trading regulations	The regulator noted that these changes will not impact the existing provisions of the Code of Conduct applicable to designated persons and their immediate relatives, ensuring that no additional disclosures will arise from these amendments..Related stories.	Market regulator SEBI has announced theÂ expansion of the definition of "connected person" under insider trading regulation. In a release that was shared after the quarterly board meeting held on September 30, the regulator announced that the board has expanded the definition of connected person to include a firm or its partner or employee where a â€śconnected personâ€ť is also a partner, as well as individuals sharing a household or residence with a â€śconnected person.â€ť Additionally, the provisions related to connected persons will now apply to â€śrelativesâ€ť rather than just â€śimmediate relatives.â€ť As per the SEBI release, a new definition of â€śrelativeâ€ť will also include the spouse, parents (including parents of the spouse), siblings (including siblings of the spouse), and children (including children of the spouse), along with their spouses. The regulator noted that these changes will not impact the existing provisions of the code of conduct applicable to designated persons and their immediate relatives, ensuring that no additional disclosures will arise from these amendments. In a July 29 consultation paper, SEBI had proposed expanding the definition of "connected persons" under the SEBI (Prohibition of Insider Trading) Regulations (PIT Regulations) to include a broader range of relatives. Currently, connected persons are individuals who may have access to unpublished price-sensitive information (UPSI) due to their profession or employment, as well as their immediate relatives like parents, siblings, and children.	2024-09-30 22:00	2024-09-30	22:00
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/sebi-board-meeting-silence-on-chairperson-controversies-no-changes-to-derivatives-framework-asba-like-facility-for-secondary-market-facility-review-of-iaria-regulations-framework-for-new-asset-12832863.html	Sebi board meeting: Silence on Chairperson controversies, no changes to derivatives framework, Asba-like facility for secondary market facility, review of IA/RIA regulations, framework for new asset class, MF Lite	The regulator met with its Board on September 30..	The market regulatorÂ didÂ notÂ announce any change to the index-derivatives framework, and did not make any statement onÂ disclosuresÂ and conflict of interest issuesÂ relating to the Chairperson Madhabi Puri Buch too,Â following its meeting with its Board. The Securities and Exchange Board of India (Sebi) met with its Board on September 30. However, significant measures were announced following the meeting relating to the new asset class that will fall between the mutual fund and PMS; introduction ofÂ liberalised Mutual Funds Lite (MF Lite) framework for passively managed schemes of mutual funds; easier compliance norms for research analysts and investment advisors; qualified stock brokers (QSBs) having to provide either ASBA-like facility or three-in-oneÂ trading facility for secondary-market investors; including offshore derivative instruments (ODIs) andÂ segregated portfolios of FPIs under additional disclosure norms and other measures related to ease-of-doing business. (This is a developing story.)	2024-09-30 21:54	2024-09-30	21:54
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/trade-setup-for-tuesday-top-15-things-to-know-before-the-opening-bell-58-12832852.html	Trade setup for Tuesday: Top 15 things to know before the opening bell	Nifty Trade Setup.Related stories.	The market extended its selling pressure for another session, with the Nifty 50 falling sharply by 368 points to 25,811 and forming a long bearish candlestick pattern with a gap-down opening on September 30. This indicates a bearish reversal pattern. Hence, the index may correct further in the upcoming sessions. The next support to watch will be 25,500, which coincides with the 50 percent Fibonacci retracement from the September low to high, while resistance lies at 26,000 on the higher side, according to experts. Below are 15 data points we've gathered to help you identify profitable trades: Here are 15 data points we have collated to help you spot profitable trades: 1)Key Levels For TheNifty 50 Resistance based on pivot points: 26,043, 26,124, and 26,254 Support based on pivot points: 25,783, 25,703, and 25,573 Special Formation: The Nifty 50 negated the higher highs of the previous eight consecutive sessions, falling below both the 5-day and 10-day EMAs (Exponential Moving Averages) with above-average volumes. Additionally, there was a negative crossover in the momentum indicator RSI (Relative Strength Index at 61.3) on both the daily and weekly charts, which is a negative sign. 2)Key Levels For TheBank Nifty Resistance based on pivot points: 53,516, 53,705, and 54,010 Support based on pivot points: 52,905, 52,716, and 52,411 Resistance based on Fibonacci retracement: 53,358, 54,365 Support based on Fibonacci retracement: 52,629, 52,057 Special Formation: The Bank Nifty formed a long bearish candlestick pattern and continued its lower highs-lower lows formation for another session with above-average volumes. The index also dropped below its 10-day EMA and is 500 points away from the 20-day SMA (Simple Moving Average of 52,477), which is expected to be crucial support to watch. There was also a negative crossover on the momentum indicator RSI on both the daily and weekly timeframes. The index was down by 856 points or 1.6 percent, settling at 52,978. 3)Nifty Call Options Data According to the weekly options data, the maximum open interest was seen at the 26,000 strike (with 88.6 lakh contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 27,000 strike (87.46 lakh contracts) and the 26,200 strike (69.97 lakh contracts). Maximum Call writing was observed at the 26,000 strike, which saw an addition of 66.11 lakh contracts, followed by the 26,100 and 25,900 strikes, which added 43.57 lakh and 39.6 lakh contracts, respectively. The maximum unwinding was seen at the 25,000 strike, which shed 57,025 contracts, followed by the 25,300 and 25,200 strikes, which shed 29,900 and 23,125 contracts, respectively. 4)Nifty Put Options Data On the Put side, the 25,000 strike holds the maximum open interest (with 51.15 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 26,000 strike (49.82 lakh contracts) and the 25,800 strike (41 lakh contracts). The maximum Put writing was observed at the 25,600 strike, which saw an addition of 11.89 lakh contracts, followed by the 25,800 and 25,700 strikes, with 10.74 lakh and 7.44 lakh contracts added, respectively, while the Put unwinding was seen at the 26,200 strike, which shed 20.14 lakh contracts, followed by the 25,000, and 26,100 strikes, which shed 16.31 lakh and 15.08 lakh contracts, respectively. 5)Bank Nifty Call Options Data According to the weekly options data, the maximum open interest was seen at the 54,000 strike, with 35.88 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 53,500 strike (32.38 lakh contracts) and the 53,400 strike (17.16 lakh contracts). Maximum Call writing was visible at the 53,500 strike (with the addition of 29.76 lakh contracts), followed by the 53,400 strike (16.57 lakh contracts) and the 53,600 strike (14.11 lakh contracts), while the maximum unwinding was seen at the 52,000 strike, which shed 74,040 contracts, followed by the 51,800 and 52,200 strikes, which shed 15,480 and 8,505 contracts, respectively. 6)Bank Nifty Put Options Data On the Put side, the 52,000 strike holds the maximum open interest (with 22.53 lakh contracts), which can act as a key support level for the index. This was followed by the 52,500 strike (20.68 lakh contracts) and the 53,000 strike (18.27 lakh contracts). The maximum Put writing was observed at the 52,500 strike (which added 8.69 lakh contracts), followed by the 52,800 strike (7.52 lakh contracts) and the 52,400 strike (5.76 lakh contracts), while the Put unwinding was seen at the 54,000 strike, which shed 14.37 lakh contracts, followed by the 53,500 and 53,800 strikes, which shed 6.16 lakh and 5.01 lakh contracts, respectively. 7)Funds Flow (Rs crore) 8)Put-Call Ratio The Nifty Put-Call ratio (PCR), which indicates the mood of the market, dropped to 0.84 on September 30, from 1.16 levels in the previous session. The increasing PCR, or being higher than 0.7 or surpassing 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market. If the ratio falls below 0.7 or moves towards 0.5, then it indicates selling in Calls is higher than selling in Puts, reflecting a bearish mood in the market. 9)India VIX After snapping a four-day losing streak, volatility bounced back sharply, though it remains at lower levels, which is still favourable for bulls. However, if volatility spikes above the 14 mark, then bulls may need to be concerned. The India VIX, the fear gauge, rose by 6.9 percent to 12.79 levels. 10)Long Build-up (39 Stocks) A long build-up was seen in 39 stocks. An increase in open interest (OI) and price indicates a build-up of long positions. 11)Long Unwinding (39 Stocks) 39 stocks saw a decline in open interest (OI) along with a fall in price, indicating long unwinding. 12)Short Build-up (81 Stocks) 81 stocks saw an increase in OI along with a fall in price, indicating a build-up of short positions. 13)Short-Covering (25 Stocks) 25 stocks saw short-covering, meaning a decrease in OI, along with a price increase. 14)High Delivery Trades Here are the stocks that saw a high share of delivery trades. A high share of delivery reflects investing (as opposed to trading) interest in a stock. 15)Stocks Under F&O Ban Securities banned under the F&O segment include companies where derivative contracts cross 95 percent of the market-wide position limit. Stocks added to F&O ban: Balrampur Chini Mills, Bandhan Bank, Hindustan Copper, RBL Bank Stocks retained in F&O ban: Nil Stocks removed from F&O ban: Nil Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.	2024-09-30 21:53	2024-09-30	21:53
moneycontrol.com	https://www.moneycontrol.com/technology/usts-second-kochi-campus-to-create-over-3000-jobs-in-5-years-article-12832827.html	UST's second Kochi Campus to create over 3,000 jobs in 5 years, says CEO	Representative image.	United States-based information technology company USTÂ on September 30 said itsÂ upcoming Kochi campus will help create more than 3,000 jobs in the next five years. The company currently employs more than 2,800 people at its existing facility in Kochi. The foundation stone for USTâ€™s new Kochi campus, which will be built on a sprawling nine-acre land at Infopark Kochi Phase 2, was laid, by Krishna Sudheendra, Chief Executive Officer, UST, the company said in a release. TheÂ 10-storeyedÂ and 4,400-seater campus in Kochi will be completed in three years. It will be UST's second-owned campus in India after Thiruvananthapuram. SudheendraÂ said that the new campus will not only strengthen USTâ€™s presence in the region but also attract more clients and create new work opportunities. Kochi boasts of advanced infrastructure, a large and highly skilled workforce, and a supportive business environment, the company said. With the aim of having its own campus in the city, UST had started the pre-construction work before the coronavirus pandemic.	2024-09-30 21:48	2024-09-30	21:48
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/sebi-board-meeting-no-changes-to-index-derivatives-framework-12832422.html	Sebi Board Meeting: No changes to index derivatives framework	Market participants had been closely watching this meeting's outcome to see if the regulator would rollout a new framework to govern index derivatives..Related stories.	In an anti-climax, the capital markets regulator did not make any changes to the index-derivatives rules. The Securities and Exchange Board of India (Sebi) met with its Board on September 30. Market participants had been closely watching this meeting's outcome to see if the regulator would implement the proposals made through a consultation paper released a few months ago. But no announcement was made on this front following the meeting. On July 30, 2024, the regulator proposed tighter derivatives regulations to boost market stability and protect small investors, including increasing contract sizes by as much as four times, collecting options premium upfront and reducing the number of weekly contracts. Also read:ÂSebi fines NSE's subsidiary KRA Rs 12 lakh over violations including failure to report cyberattacks Currently, there are index-based contracts that expire every day. The regulator is proposing to allow weekly contracts of one index of an exchange. If this comes to pass, there will be two expiries a week. Moneycontrol had exclusively reported on July 9 that the regulator was considering a new framework based on the recommendations of the Working Committee on Futures and Options. Sebi had appointed an expert committee last month to address excessive speculation driven by high retail participation in recent years. In the consultation paper, the regulator had also suggested reducing weekly option contracts.The regulator has suggested increasing the contract size by multiple times, to make it harder for retail investors to participate in it or in a kind of "reverse sachetization". As the paper said, "Given the inherently higher risk in derivatives and the large amount of implicit leverage, increase in minimum contract size would result in reverse sachetization of such risk bearing products." The consultation paper had also suggested other changes such as fewer strike prices, to stop people from gambling on cheap options on faraway strike prices. To curb this, the consultation paper had suggested few changes such as strike interval be uniform near prevailing index price (4 percent around prevailing price) and the interval to increase as the strikes move away from prevailing price (around 4 percent to 8 percent); and not more than 50 strikes to be introduced for an index derivativescontract at the time of contract launch.	2024-09-30 21:48	2024-09-30	21:48
moneycontrol.com	https://www.moneycontrol.com/news/india/india-opened-five-new-missions-in-first-100-days-of-modi-govts-3rd-term-12832840.html	India opened five new missions in first 100 days of Modi govt's 3rd term	India opened five new missions in first 100 days of Modi govt's 3rd term.Related stories.	Boosting its diplomatic footprint, India opened new missions in Albania, Gabon, Georgia, Latvia and Timor-Leste in the first 100 days of the Modi government's third term, according to a document prepared by the Ministry of External Affairs (MEA). India also opened two consulates â€” one in Auckland and the other in Barcelona during the period, it said. The document also listed Prime Minister Narendra Modi's hosting of the third Voice of Global South Summit in the virtual format in August. The summit was attended by 173 dignitaries including 21 heads of state/governments, 34 foreign ministers and 118 ministers/vice ministers from 122 countries. In the summit, Modi proposed creation of a human-centric "Global Development Compact" for the Global South to facilitate trade, sharing of technologies and concessional financing based on India's growth journey. India hosted the summit in sync with its commitment and priorities for the Global South or the developing countries. The document prepared by the MEA also listed important projects such as the Maritime Rescue Coordination Centre (MRCC) in Sri Lanka, re-launching ferry service between India and Sri Lanka and handing over of the Zoroaster vessel to Seychelles after refit in India. It also mentioned Modi's visits to Italy (G7), Russia, Austria, Poland, Ukraine, Singapore and Brunei. It said India continued to strengthen maritime cooperation in accordance with Prime Minister Modi's vision of SAGAR (Security and Growth for All in the Region). The document specifically cited India holding maritime security dialogues with Australia and Vietnam.	2024-09-30 21:47	2024-09-30	21:47
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/sebi-approves-proposal-to-ensure-odis-are-subject-to-disclosure-requirements-12832488.html	SEBI approves proposal to ensure ODIs are subject to disclosure requirements	The Board has also approved a proposal requiring FPIs to issue ODIs (excluding those with government securities as underlying assets) only through a dedicated FPI registration, which will not permit proprietary investments..Related stories.	Market regulator SEBI announced changes to regulations governing ODI (Offshore Derivative Instruments) disclosures at its Board meeting on September 30. At the board meeting, the regulator noted that a monitoring and compliance mechanism will be established to ensure that ODI-issuing Foreign Portfolio Investors (FPIs) submit relevant information about ODI subscribers to the depositories, as well as segregated portfolio-level information to the Designated Depository Participant (DDP) or Custodian. Additionally, non-compliance with these disclosure requirements will result in the redemption of ODIs or liquidation of segregated portfolios within 180 days. Defaulting ODI subscribers will be ineligible to subscribe to or hold any positions through ODIs from any ODI-issuing FPI. The SEBI Board has also approved proposals to prohibit ODI-issuing FPIs from issuing ODIs that reference derivatives andÂ hedging their ODIs with derivative positions on stock exchanges. As per the SEBI press release, "ODIs will only include cash equity, debt securities, or other permissible non-derivative investments as underlying assets, and they must be fully hedged on a one-to-one basis throughout the life of the ODI. Existing ODIs that are hedged with derivatives must be either redeemed or hedged with cash positions on a one-to-one basis within one year from the issuance of these guidelines." The Board has also approved a proposal requiring FPIs to issue ODIs (excluding those with government securities as underlying assets) only through a dedicated FPI registration, which will not permit proprietary investments. In an August 6 circular, SEBI suggested that additional disclosure norms applicable to certain FPIs through the August 2023 circular be made applicable to offshore derivative instrument (ODI) subscribers and to segregated portfolios of FPIs.	2024-09-30 21:46	2024-09-30	21:46
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/sebi-mandates-qualified-stock-brokers-gives-either-asba-like-facility-or-3-in-one-account-for-secondary-market-investors-12832846.html	Sebi mandates qualified stock brokers gives either ASBA-like facility or 3-in-one account for secondary-market investors	With UPI like facility, investors can block an amount for trading in their bank accounts..Related stories.	The market regulator has mandated that qualified stock brokers either provide UPI-block mechanism, or ASBA like facility for secondary market, or the three-in-one trading account facility from February 1, 2025. A three-in-one trading accountÂ is a combination account thatÂ has a savings account, demat account and trading account. After meeting with its Board on September 30, the Securities and Exchange Board of India (Sebi) issued a press statement to thisÂ effect. The regulator said that clients can either choose these options orÂ continue with the existing facility of trading by transferring funds to Trading Members (TMs). The press release stated: "One of the two facilities to be mandatorily offered by Qualified Stock Brokers (QSBs) and other incidental matters."It added, "Taking into account the feedback of various stakeholders and keeping in view the significant potential benefits to investors, the Board has approved that â€“1.1 In addition to the current mode of trading, the Qualified Stock Brokers (QSBs) shall provide either the facility of trading supported by blocked amount in the secondary market (cash segment) using UPI block mechanism (ASBA like facility for the secondary market) or the 3-in-1 Trading Account facility, with effect from February 1, 2025." 1.2 Clients of the QSBs will have the option, to either continue with the existing facility of trading by transferring funds to Trading Members (TMs) or opt for the facility stated at Para 1.1 above, as provided by the QSB. (This article will be updated.)	2024-09-30 21:36	2024-09-30	21:36
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/sebi-announces-mf-lite-framework-for-passive-funds-12832836.html	SEBI announces MF Lite framework for passive funds	The MF Lite consultation paper also spoke about the introduction of hybrid passive funds..Related stories.	Market Regulator SEBI announced a much awaitedÂ liberalised Mutual Funds Lite (MF Lite) framework for passively managed schemes of mutual funds. In a press release post the SEBI Board meet, the regulator noted that under theÂ MF Lite framework there would be a series of relaxed regulatory requirements designed to facilitate easier entry into the mutual fund market. The first being eligibility criteria for sponsors. Under the framework,Â the barriers related to net worth, track record, and profitability would be lowered, allowing more entities to enter the mutual fund space. Secondly, simplified responsibilities for trustees are expected to ease compliance burdens and encourage new market participants. Third, in regards to approval Process and Disclosures, the amendments would allow for streamlining the approval process and reducing the disclosure obligations for passive schemes, making it less cumbersome for asset management companies (AMCs) to operate in this segment. In a July 2024 consultation paper, SEBI proposed a relaxed regulatory framework for the mutual funds (MF) sector for passively managed funds. As per the consultation paper, the capital markets regulator noted that fund housesÂ that choose not to offer actively managed schemes do not require the same level of oversight as those that do. At a recent AMFI Board meeting, SEBI Chairperson Madhabi Puri Buch had hinted that MF Lite would be launched soon.	2024-09-30 21:33	2024-09-30	21:33
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/sebi-board-gives-final-go-ahead-for-new-asset-class-minimum-ticket-size-pegged-at-rs-10-lakh-12832417.html	SEBI board gives final go-ahead for new asset class; minimum ticket size pegged at Rs 10 lakh	SEBI announces details on new asset class.Related stories.	The Securities and Exchange Board of India (SEBI) has approved theÂ introduction of a 'new asset class' to bridge the gapÂ between mutual funds and portfolio management services (PMS). The board of the capital market regulator, which met on Monday, gave the final go-ahead for the new product with the minimum ticket size pegged at Rs 1o lakh per investor across all investment strategies of the new product in a particular AMC. "Offerings under the new product will be referred to as â€˜Investment Strategiesâ€™, to maintain clear distinction from the schemes offered under the traditional Mutual Funds. The minimum investment limit for the new product will be INR 10 lakh per investor across all investment strategies of the new product in a particular AMC. The new product is intended to add depth and variety to the investment landscape of the country through a new asset class," stated a release issued by SEBI on Monday. In July this year, SEBI had released a consultation paper asking industry for feedback to launch a new asset class that would be between a portfolio management service and a mutual fund, to allow investors with a higher investable amount to take more risk. As per the consultation paper, this new asset class would be aimed atÂ investors with investable surpluses of Rs 10-50 lakh, with a minimum entry requirement of Rs 10 lakh. The asset class would offer higher returns with greater risk. Investment strategies would include Long-Short Equity Funds, which involve taking both long and short positions, and Inverse ETFs/Funds. Globally, such strategies exist in markets like the U.S. and Australia, but they are currently unavailable in India. Eligible mutual funds with at least Rs 10,000 crore in assets or managed by experienced fund managers would be permitted to launch these products. Additionally, the paper had suggested that total gross exposure, including derivatives, cannot exceed 100% of net assets. SEBI had at that time invited feedback from the Association of Mutual Funds in India (AMFI) and individual asset management companies, with suggestions. "The new product also aims to curtail the proliferation of unregistered and unauthorized investment schemes/entities, which often promise unrealistic high returns and exploit investorsâ€™ expectations for better yields, leading to potential financial risks," stated the SEBI release issued on Monday. "The new product aims to provide investors with a professionally managed and well regulated product that offers greater flexibility, higher risk-taking capabilities for higher ticket size, while ensuring that appropriate safeguardsÂ and risk mitigation measures are in place.... safeguards for the new product will include; no leverage, no investment in unlisted and unrated instruments beyond those already permitted for Mutual Funds and derivatives exposure limited to 25% of AUM for the purposes other than hedging and rebalancing," it added.	2024-09-30 21:29	2024-09-30	21:29
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/sebi-fails-to-announce-any-change-in-index-derivatives-framework-12832422.html	Sebi fails to announce any change in index derivatives framework	Market participants had been closely watching this meeting's outcome to see if the regulator would rollout a new framework to govern index derivatives..Related stories.	In an anti-climax, the capital markets regulator did not make any changes to the index-derivatives rules. The Securities and Exchange Board of India (Sebi) met with its Board on September 30. Market participants had been closely watching this meeting's outcome to see if the regulator would implement the proposals made through a consultation paper released a few months ago. But no announcement was made on this front following the meeting. On July 30, 2024, the regulator proposed tighter derivatives regulations to boost market stability and protect small investors, including increasing contract sizes by as much as four times, collecting options premium upfront and reducing the number of weekly contracts. Also read:ÂSebi fines NSE's subsidiary KRA Rs 12 lakh over violations including failure to report cyberattacks Currently, there are index-based contracts that expire every day. The regulator is proposing to allow weekly contracts of one index of an exchange. If this comes to pass, there will be two expiries a week. Moneycontrol had exclusively reported on July 9 that the regulator was considering a new framework based on the recommendations of the Working Committee on Futures and Options. Sebi had appointed an expert committee last month to address excessive speculation driven by high retail participation in recent years. In the consultation paper, the regulator had also suggested reducing weekly option contracts.The regulator has suggested increasing the contract size by multiple times, to make it harder for retail investors to participate in it or in a kind of "reverse sachetization". As the paper said, "Given the inherently higher risk in derivatives and the large amount of implicit leverage, increase in minimum contract size would result in reverse sachetization of such risk bearing products." The consultation paper had also suggested other changes such as fewer strike prices, to stop people from gambling on cheap options on faraway strike prices. To curb this, the consultation paper had suggested few changes such as strike interval be uniform near prevailing index price (4 percent around prevailing price) and the interval to increase as the strikes move away from prevailing price (around 4 percent to 8 percent); and not more than 50 strikes to be introduced for an index derivativescontract at the time of contract launch.	2024-09-30 21:28	2024-09-30	21:28
moneycontrol.com	https://www.moneycontrol.com/news/economy-2/maharashtra-govt-okays-houses-for-project-hit-people-on-mumbai-salt-pan-land-names-adani-group-body-12832842.html	Maharashtra govt okays houses for project-hit people on Mumbai salt pan land; names Adani group body	The Adani group-controlled Dharavi Redevelopment Project will be responsible for implementing this decision (representational image).Related stories.	The Maharashtra cabinet approved the utilisation of 255 acres of salt pan land in Mumbai to develop houses for slum rehabilitation project-affected people, assigning the implementation task to Adani group's Dharavi Slum Redevelopment Project. The salt pan land utilisation decision also covers the beneficiaries of affordable housing and similar schemes. The state government had written to the Centre to transfer the salt pan land in Mumbai on lease. With the assembly polls looming, the cabinet meeting on on September 30 chaired by Chief Minister Eknath Shinde, cleared 38 proposals, some of them related to strengthening road and metro rail infrastructure in Mumbai and surrounding areas. The Adani group-controlled Dharavi Redevelopment Project will be responsible for implementing this decision (to develop houses for slum rehabilitation project-affected people), the government stated. ALSO READ:Will take back Dharavi contract from Adani group if it does not obey state govt, says Fadnavis The 255.9 acres of salt pan land to be acquired include 120.5 acres in mauje Kanjur, 76.9 acres in Kanjur and Bhandup and 58.5 acres in mauje Mulund. According to the government, the additional chief secretary of the state housing department is designated to sign an agreement with the Union government for the land lease transfer. The cost of rehabilitating people living on salt pan land will be borne by a special purpose vehicle (SPV). Earlier this month, the Centre approved the transfer of 255.9 acres of salt pan land in Mumbai to the Dharavi Redevelopment Project Pvt Ltd (DRPPL), a joint venture between Adani Realty Group and the Maharashtra government, for building rental housing for slum dwellers. Monday's cabinet meeting also approved a host of other decisions, which were:A proposal to offer rental housing for residents of Dharavi ineligible for permanent housing under another scheme as part of the redevelopment project. DRPPL will survey eligible and non-eligible residents and determine the land requirements for their housing. The proposal underscores the importance of ensuring no financial burden on the state treasury while implementing the credit-linked subsidy.The state ports development department's proposal to appoint JSW Infrastructure as the developer for the Murbe multipurpose port, with an estimated cost of Rs 4,259 crore, in neighbouring Palghar district for which a detailed project report (DPR) will be prepared.Interest-free loan of Rs 1,354 crore to MMRDA (Mumbai Metropolitan Region Development Authority) for the proposed tunnel road construction connecting Orange Gate in Mazgaon and Marine Drive. The government will bear the land acquisition expenditure estimated to be Rs 433 crore and provide the fund to MMRDA.Accepted revised proposal of Rs 12,200 crore for the Thane Ring Metro project. The proposed 29-km Thane metro loop would be 29 km long and have 20 stations on the surface and two underground.In a major boost to urban transport, the government cleared a proposal for constructing a tunnel between Thane and Borivli (Mumbai). The project entails developing a six-lane twin tunnel spanning 11.85 km with an estimated cost of Rs 18,838 crore, according to a press release.The government also gave its nod to the Animal Husbandry Department's proposal to provide a daily Rs 50 subsidy per animal to gaushala (cow shelter) operators, whose functioning will be monitored by the Maharashtra Cow Shelter Commissionerate.Allot three land parcels totalling 37 acres to the Sports Authority of India (SAI) to set up national centres of excellence on leased land with an annual rent of Rs 1 for the next 30 years.Expand economic support for scheduled caste and Nav Bauddh farmers under the Krishi Self-reliance scheme, increasing the subsidy for new irrigation wells to Rs 4 lakh and Rs 1 lakh for repairs. Conditions regarding annual income caps and well depth have also been relaxed.Home Guards will see their daily allowances rise from Rs 570 to Rs 1,083, with other allowances doubling, impacting the state treasury by Rs 795 crore.Renaming of 26 more Industrial Training Institutes, bringing the total to 40.Establishment of the Sant Narhari Maharaj Economic Development Corporation for goldsmiths and the Shri Vasvi Kanyaka Corporation for the Arya Vaishya community, each with Rs 50 crore in share capital.On the lines of SARTHI and BARTI, the cabinet approved the setting up of Vasantrao Naik Research and Training Institute to focus on the Gor Banjara community's research and economic upliftment, funded with Rs 50 crore.To enhance organ donation awareness, a dedicated critical care department will be established in all 25 government medical colleges, creating 150 new posts. The number of organ transplantations has gone up from 4,990 in 2013 to 12,666 in India, the statement said.The cabinet regularised 4,860 special teachers following Supreme Court directives and decided that Metro 3 project-affected residents from Girgaon and Kalbadevi in Mumbai would pay Rs 1,000 in stamp duty for new homes, with the remainder waived.Gratuity for state government employees will rise from Rs 14 lakh to Rs 20 lakh, effective September 1, also applying to employees of state-aided institutions, agricultural and non-agricultural colleges.	2024-09-30 21:26	2024-09-30	21:26
moneycontrol.com	https://www.moneycontrol.com/news/india/make-people-sip-cow-urine-before-garba-pandal-entry-in-indore-says-bjp-leader-12832845.html	Make people sip cow urine before garba pandal entry in Indore, says BJP leader	Make people sip cow urine before garba pandal entry in Indore, says BJP leader.	A BJP functionary from Indore district on Monday urged organisers to make people sip "gaumutra" (cow urine) before letting them in garba pandals during Navratri festival as a Hindu can never refuse this precondition. The Congress questioned the BJP leader's call, terming it a new tactic of polarisation by the saffron party. Proposing "aachman", BJP district president Chintu Verma told reporters that the aachman practice has great significance in Sanatan culture. "We have requested organisers to ensure devotees do aachaman with cow urine before allowing them to enter garba pandals," he said. According to Hindu customs, aachaman means taking a sip of water while reciting mantras for purification before starting religious rituals. Queried about the rationale behind this demand, Verma said sometimes some people join these events which generate certain discussions. "Aadhaar card can be edited. However, if a person is a Hindu, he will enter the Garba pandal only after aachaman of cow urine and there is no question of refusing it," he reasoned. MP Congress spokesman Neelabh Shukla alleged that BJP leaders are silent on the plight of cow shelters and are only interested in politicising this issue. "Raising the cow urine aachman demand is the BJP's new trick of playing polarisation politics,'' he said and demanded BJP leaders sip cow urine before entering pandals and post videos on social media.	2024-09-30 21:18	2024-09-30	21:18
moneycontrol.com	https://www.moneycontrol.com/news/india/days-after-arvind-kejriwal-resigns-from-cm-post-dtc-directs-removal-of-political-posters-12832843.html	Days after Arvind Kejriwal resigns from CM post, DTC directs removal of 'political posters'	Arvind Kejriwal resigned earlier this month saying he would return as the chief minister of Delhi only after getting a "certificate of honesty" from the people in the upcoming Assembly polls.	Delhi Transport Corporation (DTC) has directed for the removal of all â€ťpolitical posters and bannersâ€ť from its buses and depot premises, days after AAP supremo Arvind Kejriwal resigned from the chief minister post, officials said. Kejriwal resigned earlier this month saying he would return as the chief minister of Delhi only after getting a â€ťcertificate of honestyâ€ť from the people in the upcoming Assembly polls. The operation department of DTC under the Delhi government, in a communication to all the regional managers and depot managers on September 27, directed them to remove all political posters from the buses and depot premises with immediate effect. It instructed the depot managers to follow the directions and submit a compliance report. Posters were put up on the low-floor DTC buses requesting the drivers to follow the lane. These posters also carried Kejriwalâ€™s photos who was then the chief minister, along with a picture of Transport Minister Kailash Gahlot. â€ťItâ€™s not that there are many political posters. The instruction from the competent authority is being implemented and whatever posters are there either on the buses or the depots have been removed,â€ť said a senior government officer. The posters of the chief minister or ministers are often used in publicity materials in awareness campaigns which is not unusual. However, if someone is not holding the post of chief minister or minister then the poster of such a person can not be there on official property, he added.	2024-09-30 21:17	2024-09-30	21:17
moneycontrol.com	https://www.moneycontrol.com/news/india/mahayuti-govt-responsible-for-maharashtras-financial-ruin-landslide-defeat-awaits-it-congress-12832839.html	Mahayuti govt responsible for Maharashtra's financial ruin, landslide defeat awaits it: Congress	Mahayuti govt responsible for Maharashtra's financial ruin, landslide defeat awaits it: Congress.Related stories.	The Congress on Monday accused the Mahayuti government of bringing about Maharashtra's "financial ruin" and said the "incoming" Maha Vikas Aghadi government will restore the state's economic growth story, delivering on both existing subsidies and other commitments. Congress general secretary in-charge communications Jairam Ramesh cited Union minister Nitin Gadkari's remarks that the Maharashtra government's "Ladki Bahin" scheme could affect the timely payment of subsidies in other sectors to hit out at the Bharatiya Janata Party (BJP). "After the landslide defeats faced by Mahayuti candidates across Maharashtra in the Lok Sabha elections, the khokhe sarkaar's strategists came up with the Ladki Bahin Yojana to salvage their fortunes. It was a purely political ploy, introduced without any forethought or concern for the finances of the state," Ramesh said in a post on X. "Now, Nitin Gadkari, a senior Union minister, has admitted that Maharashtra is in such fiscal distress that it cannot pay out subsidies for other schemes," he added. The Congress leader then cited "facts about the financial ruin" brought about by the BJP's "puppet sarkar" in Maharashtra. Due to an "emergency fund shortage", the aid for the families of farmers who died by suicide was cancelled and was restored only after pressure from the opposition, he claimed. More than 400 contractors of the public works department (PWD) have not been paid for 15 months, Ramesh said. "Maharashtra's fiscal deficit has crossed Rs 1 lakh crore, and the total debt burden has crossed Rs 7 lakh crore â€” that is almost 20 per cent of the state GDP, and the 2nd-highest in India. Due to the ruinous spending and mismanagement of funds, Maharashtra's GDP growth has slowed to just over 5 per cent this year. Meanwhile, Telangana is growing at 13 per cent, and Karnataka and Himachal are growing at 10 per cent," he said. "The Mahayuti is a government of horse-trading and back-room politics. It does not have public legitimacy, nor does it have the ability to govern. It is a political alliance built on the shared interest of looting from the state's exchequer," the Congress leader alleged. Ramesh said the Mahayuti government has overseen a decade where the once nation-leading state of Maharashtra has fallen behind other top-performing states. "A landslide defeat awaits the Mahayuti. The incoming MVA sarkar will restore Maharashtra's economic growth story, rescue it from fiscal mismanagement, and deliver on both existing subsidies and other commitments to Maharashtra's families," he said. Assembly polls are due in Maharashtra later this year.	2024-09-30 21:06	2024-09-30	21:06
moneycontrol.com	https://www.moneycontrol.com/news/india/pm-modi-speaks-to-israels-netanyahu-says-terrorism-has-no-place-in-our-world-12832837.html	PM Modi speaks to Israel's Netanyahu, says terrorism has no place in our world	Prime Minister Narendra Modi and his Israeli counterpart Benjamin Netanyahu (File Image).	Prime Minister Narendra Modi onÂ September 30 spoke with his Israeli counterpart Benjamin Netanyahu about the recent developments in West Asia and asserted that terrorism has no place in our world. It is crucial to prevent regional escalation and ensure the safe release of all hostages, Modi said. â€śSpoke to Prime Minister @netanyahu about recent developments in West Asia. Terrorism has no place in our world. It is crucial to prevent regional escalation and ensure the safe release of all hostages,â€ť Modi said on X. India is committed to supporting efforts for an early restoration of peace and stability, PM Modi said. While PM Modi did not mention any specific incident, Israeli strikes in Lebanon last week killed seven high-ranking commanders and officials from the Hezbollah militant group, including the group's leader Hassan Nasrallah. Hezbollah had been firing rockets and missiles into northern Israel after Hamas' October 7 attack from Gaza into Israel sparked a war there.	2024-09-30 21:03	2024-09-30	21:03
moneycontrol.com	https://www.moneycontrol.com/news/india/i-pray-you-live-till-125-modi-will-continue-to-be-pm-for-long-rajnath-singhs-dig-at-mallikarjun-kharge-12832826.html	I pray you live till 125; Modi will continue to be PM for long: Rajnath Singh's dig at Mallikarjun Kharge	Rajnath Singh.Related stories.	Defence Minister Rajnath Singh on Monday took a jibe at Mallikarjun Khargeâ€™s remarks on Prime Minister Narendra Modi, saying he prays that the Congress president lives till 125 years as Modi will continue to remain the PM for a long time. At an election rally in Jammu on Sunday, Kharge felt dizzy but resumed his speech after a brief pause, saying he wonâ€™t die before Modi is removed from power. Addressing a rally in poll-bound Haryanaâ€™s Charkhi Dadri, Rajnath Singh said the Congress president has said that he would remain alive till Modi is not removed from the chair.â€ťI pray to God that you live till 125 years and till then Modi ji will remain the prime minister,â€ť said Singh.Addressing the rally on Sunday, Kharge had said, â€ťI am 83 years old. I am not going to die so early. I will stay alive till PM Modi is removed from powerâ€ť.Union Home Minister Amit Shah described Khargeâ€™s remarks as â€ťabsolutely distasteful and disgracefulâ€ť.During his address at the poll rally, the defence minister asked people to vote for the BJP in the October 5 Haryana assembly polls.He said â€ťnon-stopâ€ť development is taking place in Haryana under the BJP regime and appealed to people not to let a â€ťfull stopâ€ť happen.â€ťIf you press the wrong button then Haryana which is going upward will go into the basement,â€ť he said On the issue of â€™one nation, one electionâ€™, Singh said the BJP-led Centre has decided that a bill will be brought in this regard. Lashing out at the Congress, Singh asked the leaders of the opposition party not to mislead the people of Haryana.He said the quantum of investments which came to Haryana under the BJP regime was never received in the history of the state.Seeking to highlight the difference between the BJP regime and the Congress dispensation, Singh cited an example of Himachal Pradesh where the grand old party was in power.He said the Congress government in the hill state was unable to pay salaries to its employees and they were holding protests for the same. They are not getting dearness allowance, he further said.Chiding the Congress government in HP, he said before coming to power, it had promised Rs 1,500 per month for women but the assurance has not been fulfilled yet. He also referred to the Congress-ruled Karnataka and said the chief minister there was facing corruption accusations.Praising the Nayab Singh Saini-led BJP government in Haryana, Singh said it was giving minimum support prices on 24 crops and no other state was doing this.Referring to â€ťpro-farmersâ€ť moves of the BJP-led Centre, he said that farmers are being provided urea at Rs 300 per bag as against its price of Rs 3,000 in other countries. Under the Kisan Samman Nidhi, farmers are being given Rs 6,000 per annum, he said, adding that till now, Rs 3.25 lakh crore has been disbursed.On the alleged infighting in the Haryana Congress over who will become the chief minister, Singh said the BJP has already announced its chief ministerial face. â€ťA senior Congresswoman leader was upset for many days. She is speaking todayâ€¦ but I think she is not speaking from her heart,â€ť he said in an apparent reference to Dalit leader Kumari Selja.He said when the Congress was in power in Haryana, government jobs were not given without â€™kharchi-parchiâ€™ (bribe and favouritism).After the BJP came to power, it ended this system, he said.	2024-09-30 20:56	2024-09-30	20:56
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/bulk-deals-hdfc-mutual-fund-buys-0-5-stake-in-cyient-dlm-12832819.html	Bulk deals: HDFC Mutual Fund buys 0.5% stake in Cyient DLM	Representational image.Related stories.	HDFC Mutual Fund purchased 4 lakh shares (0.50 percent) of Cyient DLM Limited at Rs 667 per share. Meanwhile, Morgan Stanley Asia Singapore PTE - ODI sold 4.34 lakh shares (0.55 percent). VPK Global Ventures Fund - Scheme 1 sold 1.6 lakh shares (0.77 percent) of Essen Speciality Films Ltd at Rs 454.9 per share. BOFA Securities Europe SA bought 7.14 lakh shares (0.54 percent) of Hindustan Oil Exploration Company Ltd at Rs 230 per share, while Ramasamy Jeevanandam sold 8 lakh shares (0.60 percent) at Rs 230.05 per share. Several transactions took place in Vipul Limited. Nischay Housing Private Limited bought 11.5 lakh shares (0.82 percent), Setu Securities Private Limited purchased 7.5 lakh shares (0.53 percent), 7M Developers LLP bought 10 lakh shares (0.71 percent) while Shri Bajrang Commodity acquired 7.25 lakh shares (0.51 percent). These shares were bought atÂ at Rs 34.5 per share. Srestha Finvest Limited purchased 11 lakh shares (0.78 percent) at Rs 34.47 per share, Moneyplant Gold & Jewellery Trading L.L.C. bought 12 lakh shares (0.85 percent) at Rs 34.5 per share. Zeta Global Funds (OEIC) PCC Limited - Zeta Series B Fund PC acquired 15.27 lakh shares (1.08 percent) at Rs 34.5 per share, and Bridge India Fund purchased 15.48 lakh shares (1.10 percent) at the same price. Sumarg Education Resources Private Limited bought 14.5 lakh shares (1.03 percent) of Vipul Limited at Rs 34.5 per share, while Marwadi Shares and Finance Ltd. purchased 17.51 lakh shares (1.24 percent) at Rs 34.4 per share. Punit Beriwala HUF sold 19.34 lakh shares (1.37 percent) of Vipul Limited at Rs 34.5 per share, and Sunita Beriwala sold 1.29 crore shares (9.16 percent). Plutus Wealth Management LLP purchased 85 lakh shares (0.66 percent) of SpiceJet Ltd at Rs 59.95 per share.	2024-09-30 20:55	2024-09-30	20:55
moneycontrol.com	https://www.moneycontrol.com/news/india/india-made-strides-in-environmental-protection-over-last-two-decades-govt-data-12832830.html	India made strides in environmental protection over last two decades: Govt data	India's increased its protected area 16 percent in two decades.	India has made strides in environmental protection by increasing the total protected area and mangrove cover over the last decade, according to a report released by the Ministry of Statistics and Programme Implementation. The report noted that protected areas, as defined by the International Union for Conservation of Nature (IUCN), including wildlife sanctuaries and biosphere reserves, have increased 72 percent in number and 16 percent in the area over the last two decades (2000-2023) to 1,78,641 square km. The number of national parks has gone up to 106 from 87 two decades ago, and wildlife sanctuaries have increased to 573 from 478. Conservation reserves have grown four times to 123 from 29 in 2000. It further noted that the country's mangrove cover also increased by 8 percent during the last decade (2013-21) to 4,992 square kilometres from 4,628 square kilometres. â€śThe report provides the framework for the compilation of the Ocean Accounts along with data for some of the extent and the condition parameters related to the oceans,â€ť the ministry noted. Ocean accounts are expected to help the government ascertain the damage to the environment in pursuit of economic activity. The report also leverages information from Soil Health Cards to determine soil nutrient value.	2024-09-30 20:45	2024-09-30	20:45
moneycontrol.com	https://www.moneycontrol.com/technology/beats-solo-buds-review-good-enough-but-miss-a-beat-or-two-article-12832653.html	Beats Solo Buds review: Good enough but miss a beat or two	Beats Solo Buds.	Yes, my headline reads â€śGoogle enoughâ€ť and I have enough reason to say that for Beatsâ€™ new Solo Buds. First and foremost, thereâ€™s some Apple and some Beats in it with the sole idea of striking a balance of both worlds. But, the deal breaker part is that it works with both Apple ecosystem as well as Android (via the Beats app). Beats Solo Buds case Before dwelling deep into the review, letâ€™s get to know the Solo Buds. What is it and who is it for? Beat Solo Buds is priced at Rs 6,990. For Beats branding and the legacy, the brand carries â€“ not a big asking price. Itâ€™s compact and comes with the smallest case weâ€™ve seen on any earbuds. One solid reason behind this is the lack of a battery pack within the case â€“ again something that weâ€™ve not seen before. But, if you look beyond that, there are a lot of interesting aspects of the Beats Solo Buds. For instance, it comes with a dual-layer driver that claims to deliver full acoustic range and even without the battery, the earbuds themselves are rated at 18 hours on a single charge most importantly, it comes with Appleâ€™s chip to support quick pairing and better audio processing. I have been using the Beats Solo Buds for a while now and hereâ€™s my review. DesignI have already established the idea of the Beats Solo Buds case being small â€“ the smallest â€“ to be precise. Let me make it more clear to you. It is almost the same thickness as the Galaxy Z Fold 6 or you can say small enough to fit in a skinny jean coin pocket without added effort and it weighs just 22 grams. Talking about the design, the case has a pill shape to it â€“ something youâ€™ll find common in Beatsâ€™ design language. The case is all plastic, but the matte finish makes it premium and smooth to the touch. Also, the hinge mechanism that manages the opening and closing mechanism of the small flap up top is sturdy. The closing and opening feel is so satisfying that it can easily replace the fidget spinner. At the back, youâ€™ll find the Type-C charging port and the base is flat so it stays still when placed upright unlike the AirPodsâ€™ case. So, the case is good and the design language continues to the buds as well. The buds are compact too â€“ Length: 2.05cm/0.81in, Width: 1.85cm/0.73in, Height: 1.9cm/0.75 in, Weight: 5.7g â€“ to be precise. Beats Solo Buds are tiny by design. I thought it would be difficult to put back in the case. But to my surprise, the elements of the buds are put together so well that it feels natural to put it on and back to the case. The end part has a flat design that makes it easier to grip. Plus, the ear tip side has that shape to help it get the right fit for almost everyone. The icing on the cake is the additional tips â€“ XS, S, M and L â€“ are included in the box. For me, the M-size worked like magic.Overall, the Solo Buds features a good design and tries to cater for the audience who want something compact and ergonomic. The comfort level is also top-notch here. I used it for like 6 hours daily in the office, 2 hours at the gym and then while scrolling through Reels in bed and not once did I feel the Solo Buds uncomfortable. Audio performanceI am a 90s kid and people of my age can relate to Beats for more than what today's generation will. What I want to say is that the brands always had that aspirational value and it still has. But beyond the brand value, it was the sound quality that always blew peopleâ€™s minds then and even today. Sure, the Beats Solo Buds are still Beats â€“ at least the branding everywhere says that. But, thereâ€™s this combination of Beats nostalgia and Appleâ€™s modern take on the sound signature. Why I am saying this is because the Beats earphones and headphones have always sounded so warm and punchy. I still remember that loud and sort of bass-heavy sound signature. Itâ€™s there in Beats Solo Buds. But thereâ€™s some Apple as well. Remember I mentioned that Beats Solo Buds are trying to strike the right balance and this is what I meant with that line. So, the Beats Solo Buds are loud, clear and the vocals are good as well. But, at the same time, it is also calm and composed and feels at peace. So, when you need that extra bass effect, youâ€™ll get it. What you wonâ€™t get is that extra rumble effect that older Beats headphones used to offer. And, thatâ€™s a good thing. The entire sound tuning of Beats Buds Solo makes it feel more premium and polished than any other Beats earbuds out there. What made it love the Beats Solo Buds even more is the soundstage â€“ it is wide and really wide â€“ without those additional features, spatial audio, etc. I mean you can listen to the beats from a song or movie playing at some corner in the background with vocals at the centre and thatâ€™s more than impressive. Beat Solo Buds sound quality is impressive. But, what about everything else? Well, there are a few things that I feel are missing and should have been included with it, especially at this price. The first thing that can bother many people is the lack of auto-play and pause functions. I mean, the earbuds keep playing the audio even when you take them out â€“ requiring you to manually pause the song or movie you are listening to. The second missing feature is Active Noise Cancellation. Yes, I know, it is not that expensive. But you can find ANC in this price range. I am not asking for much, but at least a basic level of ANC could have taken the entire experience of the Solo Buds to another level, especially considering how good the passive noise cancellation of the Buds is. The third thing â€“ the lack of a battery pack in the charging case. Well, this might not be a big deal. But, not having an additional charge to keep the buds fueled up and ready for action is something that gets me anxious. Thankfully the battery life is good and I will discuss that later. aBeats Solo Buds are rated to deliver up to 18 hours of battery life and in my testing, the earbuds last for several days with an average listening time of around 4 hours daily. This is something not that common for TWS earbuds. Also, it supports fast charging. So, in case you need a quick top-up, you can charge it for around 5 or 10 minutes for several hours of listening time. VerdictThe Beats Solo Buds offer a compact, ergonomic design and impressive sound quality, striking a balance between Beats' sound signature and Apple's refined tuning. The wide soundstage and comfortable fit make them great for daily use. However, the lack of features like auto-pause, Active Noise Cancellation, and a battery pack in the case could be deal breakers for some, especially at this price. Despite these omissions, the solid battery life and sound performance make the Solo Buds a decent option.	2024-09-30 20:33	2024-09-30	20:33
moneycontrol.com	https://www.moneycontrol.com/news/business/economy/capex-spending-of-formal-manufacturing-firms-surpassed-pre-covid-level-in-fy23-employment-growth-at-11-year-high-12832814.html	Capex spending of formal manufacturing firms surpassed pre-Covid level in FY23, employment growth at 11-year high	Capex spends surpassed pre-Covid level in FY23.Related stories.	Employment in the formal manufacturing sector rose at the fastest pace in 11 years in 2022-23, as capital spending by firms rebounded beyond pre-Covid levels, according to a Moneycontrol analysis of Annual Survey of Industries data released on September 30. Employment growth picked up to 7.4 percent in FY23 compared with 7 percent in FY22, marking the second consecutive year of over 7 percent expansion. Meanwhile, companies also invested more in the capital, with the capex of the formal sector rising 77 percent to Rs 5.85 lakh crore in FY23 from Rs 3.3 lakh crore in FY22. Capex spending had declined to around Rs 3 lakh crore from Rs 4.16 lakh crore in FY20. Profits of formal sector firms also rose during this period to Rs 9.76 lakh crore. Emoluments to workers were also up at 14.2 percent compared with 15.9 percent growth witnessed in FY22. â€śThe results show that the Gross Value Added (GVA)Â grew by 7.3% in current prices in the year FY23 over FY22. Increase in input was 24.4% while output grew by 21.5% in the sector in FY23 over FY22,â€ť the ministry stated. Formal manufacturing is still concentrated in specific states. Data shows that the top five states accounted for 54 percent of the total manufacturing value added of the country and 55 percent. â€śMaharashtra ranked first in 2022-23 followed by Gujarat, Tamil Nadu, Karnataka and Uttar Pradeshâ€ť in terms of gross value added. The top five states employing highest number of persons in this sector were Tamil Nadu, Maharashtra, Gujarat, Uttar Pradesh and Karnataka.	2024-09-30 20:32	2024-09-30	20:32
moneycontrol.com	https://www.moneycontrol.com/news/india/no-water-supply-in-parts-of-west-delhi-on-october-1-and-2-12832825.html	No water supply in parts of west Delhi on October 1 and 2	No water supply in parts of west Delhi on October 1, 2.	Water supply will be affected in parts of west Delhi for 16 hours on October 1 and 2, an official statement of the Delhi Jal Board said. The affected areas include Varun Niketan, Raja Garden, Ramesh Nagar, Khyala, Rani Bagh, Moti Nagar, Shanta Puri Tagore Garden, Tilak Nagar, Rajouri Garden, Hari Nagar and adjoining areas, it said. "Due to major repair work in the 1100 mm dia header line feeding to 1100 mm dia West Delhi Main and 1200 mm dia Pitampura Main inside plant premises of Water Treatment Plant Haiderpur Ph-l, the water supply in the affected areas shall not be available or available at low pressure from the morning of October 1 (10 am) to October 2 (2 am), i.e., for 16 hours," the statement said. The DJB has advised residents of the affected areas to make judicious use of water and store an adequate amount in advance as per their requirement during the shutdown period. Water tankers will be available on demand from the DJB helpline or the central control room, it said.	2024-09-30 20:29	2024-09-30	20:29
moneycontrol.com	https://www.moneycontrol.com/news/companies-2/bel-inks-pact-with-isro-to-boost-indigenisation-of-defence-and-space-production-12832820.html	BEL inks pact with ISRO to boost indigenisation of defence and space production	TWTAs developed by SAC, ISRO, and manufactured by BEL will be used in satellite communication and navigation payloads (representational image).	Defence PSU Bharat Electronics Limited (BEL) on September 30 said it has signed a Memorandum of Understanding with the Space Applications Centre (SAC), ISRO to collaborate, indigenise, and develop infrastructure for manufacturing space-grade Travelling Wave Tube Amplifiers (TWTAs) in India. The MoU that was signed at SAC Ahmedabad will give a boost to the indigenisation of defence and space production and save foreign exchange for the country,BELsaid. â€śTWTA is a complex multi-disciplinary technology involving controlled interaction of microwave with electron beam under ultrahigh vacuum conditions. State-of-the-art fabrication and manufacturing facility for TWTAs has been established at BEL,â€ť the defence PSU said. TWTAs developed by SAC, ISRO, and manufactured by BEL will be used in satellite communication and navigation payloads, microwave remote sensing radar payloads, scientific missions or probes and inter-spacecraft communications links. These items are integral parts of various communication and microwave remote sensing payloads, it added.	2024-09-30 20:23	2024-09-30	20:23
moneycontrol.com	https://www.moneycontrol.com/news/business/ipo/vikram-solar-files-draft-papers-for-ipo-with-fresh-issue-rs-1500-crore-ofs-of-1-74-crore-shares-12832811.html	Vikram Solar files draft papers for IPO with fresh issue Rs 1,500 crore, OFS of 1.74 crore shares	Vikram Solar IPO.Related stories.	Vikram Solar, one of the largest solar photo-voltaic modules manufacturers, has filed draft papers with the capital markets regulator SEBI for fund raising via initial share sale on September 30. The IPO consists of fresh issue of Rs 1,500 crore worth shares, and an offer-for-sale of 1.74 crore equity shares by promoters Gyanesh Chaudhary, Vikram Capital Management, and Anil Chaudhary. Promoters' shareholding in the company stands at 77.64 percent, while the public shareholders including Arpit Khandelwal, and Asnu Finvest own 22.36 percent stake. The solar solutions provider may consider raising Rs 300 crore funds via private placement (the pre-IPO placement). If the company raises funds in pre-IPO placement, the said amount will be reduced from the fresh issue. Also read:ÂDiffusion Engineers IPO subscribed 114.5 times on final day, check latest grey market premium With manufacturing facilities in Falta SEZ (Kolkata), and Oragadam (Chennai), Vikram Solar commenced manufacturing operations in 2009 with an installed solar PV module manufacturing capacity of 12.00 MW, which has increased up to 3.50 GW capacity. It is currently undertaking greenfield and brownfield expansion plans, which are expected to increase its capacity to 10.50 GW by FY26 and 15.50 GW by FY27. The company intends to utilise Rs 793.4 crore out of the fresh issue proceeds for setting up of 3,000 MW solar cell and 3,000 MW solar module manufacturing facility by subsidiary VSL Green Power in Tamil Nadu, which is the Phase-I project, and Rs 603 crore for expanding the same solar module manufacturing facility from 3,000 MW to 6,000 MW which is the Phase-II project. Also read:ÂSwiggy, Hyundai India, Acme Solar, Vishal Mega Mart, Mamata Machinery IPOs get SEBI approval The Kolkata-based company competes with the listed peers like Premier Energies (which listed in September), and Websol Energy System. Its financial performance has seen strong improvement in the reported past years. As per the draft papers, net profit in the fiscal 2024 grew significantly by 450 percent to Rs 79.7 crore compared to Rs 14.5 crore in the previous year, with strong operating margin performance. EBITDA (earnings before interest, tax, depreciation, and amortisation) during FY24 grew by 114 percent to Rs 398.6 crore with margin increasing 690 bps to 15.9 percent in FY23. Revenue from operations stood at Rs 2,511 crore for the year ended March 2024, higher by 21.1 percent from Rs 2,073.2 crore in the previous year. The book running lead managers handing its IPO will be JM Financial, Nuvama Wealth Management, UBS Securities India, Equirus Capital, and PhillipCapital India.	2024-09-30 20:13	2024-09-30	20:13
moneycontrol.com	https://www.moneycontrol.com/news/world/russia-plans-sharp-defence-spending-hike-in-2025-12832816.html	Russia plans sharp defence spending hike in 2025	Vladimir Putin.Related stories.	Russia plans to boost its defence budget by almost 30 percent next year as it diverts resources to its Ukraine offensive, spending more on the military than welfare and education combined, a draft budget showed on Monday. Moscow had already ramped up military spending to levels not seen since the Soviet Union era, pumping out missiles and drones to fire on Ukraine and paying lucrative salaries to its hundreds of thousands of soldiers fighting on the front lines. The latest planned increase in spending will take Russia's defencebudgetto 13.5 trillion rubles ($145 billion) in 2025, a document published on the parliamentary website showed, up from 10.4 trillion in 2024. That figure does not include some other resources being directed to the military campaign, such as spending that Russia labels as "domestic security" and some outlays classified as top secret. Combined spending on defence and security will account for around 40 percent of Russia's total government spending, seen at 41.5 trillion rubles in 2025. Before sending the draft budget to the Russian parliament, Moscow trumpeted an increase in investment and social welfare alongside higher military outlays. The "top priority" of the budget was to be "social support for citizens", Finance Minister Anton Siluanov told a televised government meeting on September 24. "The second is the provision of expenditures on defence and security, providing the resources for the special military operation and support for families of those participating in the special military operation," he added, using Russia's official language for its Ukraine offensive. But the draft budget suggest that military spending has crowded out spending on other areas of the economy. Planned spending on "national defence" is more than twice that allocated to areas Moscow labels as "social policy". Ukraine has also been forced to accelerate its own military spending as it battles the Russian offensive. Kyiv will allocate more than 60 percent of the country's entire budget to defence and security next year. But Russia's $145-billion defence budget dwarfs Ukraine's at $54 billion, with Kyiv reliant on Western military and financial aid to continue fighting. - 'Truth is on our side' -The budget announcement came as Russian President Vladimir Putin marked what he calls "Reunification Day" -- the moment when Moscow annexed four southern and eastern Ukrainian regions in 2022. Russia claimed to annex the Ukrainian regions of Lugansk, Donetsk, Zaporizhzhia and Kherson in September 2022 but it does not fully control any of them. "The truth is on our side. All goals set will be achieved," Putin said in a combative address marking the second anniversary of the occasion. The Kremlin has pursued a relentless assault on eastern Ukraine in recent months, pressing its advantage as Ukrainian soldiers grapple with exhaustion and continuous bombardment. On Monday, the Russian army said its troops had "liberated" the Ukrainian village of Nelipivka, which had a population of around 1,000 before the conflict began in February 2022. The village is one of several dozen that Russia claims to have captured in recent months, pressing forward even as Kyiv mounts a cross-border offensive into Russian territory. Nelipivka lies just north of the Ukrainian town of New York, where Kyiv claimed to have made rare gains earlier in September. The main target of Moscow's assault in recent months has been the Ukrainian logistics hub of Pokrovsk, a city on road and rail routes that supply Kyiv's forces across the frontline. - 'One-to-one talks' -Russia meanwhile launched a fresh wave of missile and drone attacks at Ukraine overnight, some of which were aimed at the capital, Kyiv. "The enemy carried out another massive attack with drones on the Kyiv region overnight. Air defence forces worked effectively in the region," said the head of the Kyiv regional military administration, Ruslan Kravchenko. Wreckage from some of the downed barrage caused fires but there were no casualties or hits on critical infrastructure, he added. Ukrainian Foreign Minister Andriy Sybiga was in Budapest on Monday to meet Hungarian counterpart Peter Szijjarto. Hungarian Prime Minister Viktor Orban is the only European Union leader to have maintained close ties with the Kremlin since the conflict began and has refused to allow EU military support for Kyiv. "The one-to-one talks between Andriy Sybiga and Peter Szijjarto lasted about an hour, twice as long as planned," the Ukrainian foreign ministry said, without elaborating. Hungary has previously blocked substantial EU funds for Ukraine, a source of frustration for Ukrainian President Volodymyr Zelensky and his EU allies.	2024-09-30 20:11	2024-09-30	20:11
moneycontrol.com	https://www.moneycontrol.com/news/world/top-hamas-commander-killed-in-lebanon-was-a-un-employee-on-administrative-leave-unrwa-says-12832817.html	Top Hamas commander killed in Lebanon was a UN employee on administrative leave, UNRWA says	The top Hamas commander in Lebanon was killed in an Israeli strike.Related stories.	A Hamas top commander in Lebanon who was killed in an Israeli strike was a United Nations employee placed on administrative leave, said the UN agency for Palestinian refugees. Fatah Sharif was killed with his wife, son and daughter in an airstrike on Al-Buss refugee camp, one of 12 dedicated to Palestinian refugees in Lebanon, in the southern port city of Tyre on Monday. The Israeli military confirmed it had targeted him. Sharif was not open about his affiliation with the Palestinian militant group and its armed wing. Critics of UNRWA have repeatedly blasted it for not doing enough to root out Hamas militants from its ranks, and some seized on Sharifâ€™s ties to both organizations. Israelâ€™s diplomatic mission in Geneva posted on X saying that Hamas announced Sharif's death, "And guess what was the second job of Mr Sharif? He was a principal, head of @UNRWA teachers association in Lebanon.â€ť The mission added: â€śThis case proves that there is a deep problem in @UNRWA, the way they do due diligence about who they are hiring.â€ť UNRWA spokesman Jonathan Fowler said Sharif â€śwas an UNRWA employee who was put on administrative leave without pay in March and that he â€śwas undergoing an investigation following allegationsâ€ť the agency received "about his political activities.â€ť A Hamas statement praised Sharif for his â€śeducational and jihadist workâ€ť and called him â€śa successful teacher and an outstanding principalâ€ť for generations of Palestinian refugees. The UNRWA teachersâ€™ union and other Palestinian groups had periodically staged protests in front of the UN agency's office in Beirut since Sharifâ€™s suspension, alleging it targeted him for his political stances. Earlier this month, the union staged a sit-in during a visit to Lebanon by UNRWA Commissioner-General Philippe Lazzarini, saying it awaited â€śpositive and fair outcomesâ€ť in the case of his suspension.	2024-09-30 20:09	2024-09-30	20:09
moneycontrol.com	https://www.moneycontrol.com/news/india/govt-extends-export-benefits-under-rodtep-till-sep-2025-12832812.html	Govt extends export benefits under RoDTEP till Sep 2025	It was launched in January 2021 and was there till September 30.	The government on Monday extended benefits under the RoDTEP scheme for exports made from domestic tariff area (DTA) units for one year till September 30, 2025. The scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) provides for refund of taxes, duties and levies that are incurred by exporters in the process of manufacturing and distribution of goods and are not being reimbursed under any other mechanism at the centre, state, or local level. It was launched in January 2021 and was there till September 30. The Directorate General of Foreign Trade (DGFT) said in a notification that for Advance Authorisation (AA) holders, Export Oriented Units (EOUs) and Special Economic Zones (SEZs), the scheme is extended till December 31 this year. â€ťThe RoDTEP scheme is being extended for exports made from DTA units till September 30, 2025, and AA/EOU/SEZ units till December 31, 2024,â€ť it said. It added that the revised rates under the scheme are also notified for implementation with effect from October 10 this year, once the ICEGATE portal gets updated with new rates. ICEGATE registration is a pre-requisite for filing of all customs-related documents such as bill of entry, and shipping bills online. In FY23, the scheme supported USD 450 billion worth of exports at the cost of Rs 13,020 crore. While in 2021-22, the scheme aided USD 421 billion in exports and cost Rs 12,100 crore. The rate of tax refund under the scheme ranges from 0.5 per cent to 4.3 per cent of the value of the product.	2024-09-30 19:59	2024-09-30	19:59
moneycontrol.com	https://www.moneycontrol.com/news/india/pm-modi-to-visit-jharkhand-on-oct-2-will-lay-foundation-stone-inaugurate-projects-worth-rs-83300-cr-12832808.html	PM Modi to visit Jharkhand on Oct 2; will lay foundation stone, inaugurate projects worth Rs 83,300 cr	PM to visit Jharkhand on Oct 2; will lay foundation stone, inaugurate projects worth Rs 83,300 cr.Related stories.	Prime Minister Narendra Modi will visit Jharkhand on October 2 during which he will lay the foundation stone and inaugurate various projects worth over Rs 83,300 crore. Prime Minister Modi will launch Dharti Aaba Janjatiya Gram Utkarsh Abhiyan with a total outlay of over Rs 79,150 crore, a statement issued by the Prime Minister's Office (PMO) said. He will inaugurate 40 Eklavya Schools and also lay the foundation stone for 25 Eklavya Schools. At around 2 pm, he will lay the foundation stone, launch and inaugurate various projects worth over Rs. 83,300 crore in Hazaribag, Jharkhand. "In line with his commitment to ensure comprehensive and holistic development of tribal communities across the country, the prime minister will launch Dharti Aaba Janjatiya Gram Utkarsh Abhiyan with a total outlay of over Rs 79,150 crore," it said. The Abhiyan will cover around 63,000 villages benefitting more than five crore tribal people in 549 districts and 2,740 blocks across 30 states and UTs. It aims to attain saturation of critical gaps in social infrastructure, health, education and livelihood through 25 interventions implemented by 17 ministries and departments of the Government of India, the statement said. In order to boost the educational infrastructure for the tribal communities, Prime Minister Modi will inaugurate 40 Eklavya Model Residential Schools (EMRS) and lay the foundation stone for 25 EMRS worth over Rs 2,800 crore. Prime Minister Modi will inaugurate and lay the foundation stone for multiple projects under Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM-JANMAN) worth over Rs 1360 crore. It includes more than 1380 km of road, 120 Anganwadis, 250 multi-purpose centres and 10 school hostels. Further, he will also unveil a series of landmark achievements under PM JANMAN, which include electrification of more than 75,800 Particularly Vulnerable Tribal Groups (PVTG) households in around 3,000 Villages, operationalisation of 275 mobile medical units and 500 Anganwadi centres, establishment of 250 Van Dhan Vikas Kendras and the saturation of more than 5,550 PVTG Villages with â€˜Nal se Jalâ€™, the statement said.	2024-09-30 19:52	2024-09-30	19:52
moneycontrol.com	https://www.moneycontrol.com/news/india/india-logs-8-more-rain-than-normal-in-monsoon-2024-highest-since-2020-12832804.html	India logs 8% more rain than normal in monsoon 2024, highest since 2020	Representative image.Related stories.	The 2024 southwest monsoon season officially ended on September 30, with India recording 934.8 mm rainfall, 108 percent of the long-period average and the highest since 2020, according to India Meteorological Department data. Central India received 19 percent more rainfall than the long-period average for the region, the southern peninsula recorded 14 percent more than normal, and northwest India saw 7 percent more than usual. East and northeast India registered 14 percent less rainfall than normal, the data showed. The country experienced a rainfall deficit of 11 percent in June, followed by an excess of 9 percent in July, 15.7 percent in August, and 10.6 percent in September. In the 2023 monsoon season, India had recorded 820 mm rainfall, which was 94.4 percent of the long-period average of 868.6 mm. The country logged 925 mm of rainfall, 106 percent of the long-period average, in 2022; 870 mm in 2021; and 958 mm in 2020. The IMD had predicted above-normal rainfall (106 percent of the long-period average) for the monsoon season this year. It also accurately forecast below-normal monsoon rainfall for northeast India, normal rainfall for the northwest, and above-normal rainfall for central and southern peninsular regions. The monsoon is critical for India's agricultural sector, with 52 percent of the net cultivated area dependent on it. This primary rain-bearing system is also essential for replenishing reservoirs that provide drinking water and support power generation across the country.	2024-09-30 19:40	2024-09-30	19:40
moneycontrol.com	https://www.moneycontrol.com/news/world/harris-trump-shift-plans-after-hurricane-helenes-destruction-12832805.html	Harris, Trump shift plans after Hurricane Helene's destruction	Harris, Trump shift plans after Hurricane Helene's destruction.Related stories.	Hurricane HeleneŌĆÖs deadly devastation has scrambled the presidential candidatesŌĆÖ campaign plans, with Kamala Harris returning early from a campaign visit to Las Vegas to attend briefings and Donald Trump heading to Georgia to see the storm's impact. The death toll is close to 100 people and rising, with some of the worst damage caused by inland flooding in North Carolina. In addition to being humanitarian crises, natural disasters can create political tests for elected officials, particularly in the closing weeks of a presidential campaign. At the beginning of a rally in Las Vegas on Sunday, Harris said ŌĆ£we will stand with these communities for as long as it takes to make sure that they are able to recover and rebuild.ŌĆØ President Joe Biden was scheduled to speak about his administration's response to Hurricane Helene on Monday morning. He plans to visit areas affected by the storm later this week, with efforts to not disrupt response efforts. Trump, speaking in Erie, Pa., on Sunday, described the storm as ŌĆ£a big monster hurricaneŌĆØ that had ŌĆ£hit a lot harder than anyone even thought possible.ŌĆØ He criticized Harris for attending weekend ŌĆ£fundraising events with her radical left lunatic donorsŌĆØ in California while the storm hit. ŌĆ£She ought to be down in the area where she should be,ŌĆØ Trump said. The White House said Harris would visit impacted areas ŌĆ£as soon as it is possible without disrupting emergency response operations.ŌĆØ She also spoke with Gov. Roy Cooper of North Carolina, and she received a briefing from Federal Emergency Management Agency Administrator Deanne Criswell while she was traveling.	2024-09-30 19:40	2024-09-30	19:40
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/block-deals-trans-galactic-trading-fz-sells-0-01-stake-in-vodafone-idea-12832787.html	Block deals: Trans Galactic Trading FZ sells 0.01% stake in Vodafone Idea	Block deals.Related stories.	On September 30, 196.34 lakh shares were sold via block deals. Bajaj Auto Limited Neelima Bajaj Family Trust sold 39,000 shares (0.01 percent) at Rs 12,350 per share. Bachhraj & Co Private LimitedÂ was the buyer. Both are promoter entities. At close, the stock was trading 2.46 percent lower at RsÂ 12,355. Bajaj Finserv Limited Kumud Nimisha Family Trust and Kumud Neelima Family Trust each sold 5 lakh shares (0.06 percent each), for at Rs 1,985 per share. Bachhraj & Co Private LimitedÂ was the buyer. Both are promoter entities. At close, the stock was trading 2.04 percent lower at RsÂ 1,969.65. Vodafone Idea LimitedTrans Galactic Trading FZ sold 99.99 lakh shares (0.01 percent) at Rs 10.32 per share. Findoc Investmart Private Limited was the buyer. At close, the stock was trading 2.72 percent lower at RsÂ 10.37. Trent LtdDodona Holdings Limited sold 10.83 lakh shares (0.30 percent shares) at Rs 7,465 per share. Siddhartha YogÂ was the buyer. At close, the stock was trading 3.49 percent lower at RsÂ 7,560.10. RBL Bank Hydra Trading Private Limited sold 75.12 lakh shares (1.24 percent)at Rs 203 per share. Cronus Merchandise LLP was the buyer. At close, the stock was trading 1.7 percent lower at RsÂ 204.	2024-09-30 19:35	2024-09-30	19:35
moneycontrol.com	https://www.moneycontrol.com/technology/amazon-great-indian-festival-sale-sees-over-2-lakh-customers-buy-their-first-smartphone-apple-and-samsung-the-most-trusted-brand-article-12832793.html	Amazon Great Indian Festival sale sees over 2 lakh customers buy their first smartphone, Apple and Samsung, the most trusted brands	Amazon.Related stories.	The Amazon Great Indian Festival 2024 commenced on September 27, featuring 24-hour early access for Prime members. With a wide array of deals, cashback schemes, and affordability options like No-Cost EMI and exchange offers, theÂ e-commerce platform saw nearly 11 crore customer visits in the first two days of the sale. Now, according to an Amazon press release, the smartphone category has emerged as a key sales sector during the Great Indian Festival sale with more than 2 lakh customers buying a mobile smartphone for the first time. The premium smartphone category (above Rs 30,000) in particular saw a remarkable 30% year-on-year (YoY) growth. Moreover, Apple, Samsung, and OnePlus have been the most preferred brands by Amazon customers. Amazon has also confirmed that 70% of these smartphone sales have come from Tier 2 cities and smaller towns. This marks a significant shift in consumer preferences toward premium smartphones. If we talk about televisions (TVs), Amazon has confirmed that Samsung, Xiaomi, and Sony have been the most preferred brands, as nearly 80% of TV orders came from Tier 2 and 3 cities. Additionally, large-screen TVs have contributed to almost 50% of total television sales in the first 48 hours. Gaming laptops also saw 19X growth in the Great Indian Festival sale compared to pre-festive periods. Premium gaming laptops, powered by the 40-series graphic cards, recorded a 35X surge in sales, while Intel Core Ultra laptops saw 36X growth. Amazon has also confirmed that the tablet category saw its biggest turnaround in the Rs 30,000-Rs 50,000 price range. Moreover, demand for iPad and Samsung tablets grew by 63X and by 12X respectively YoY in the first 48 hours of the sale.	2024-09-30 19:32	2024-09-30	19:32
moneycontrol.com	https://www.moneycontrol.com/news/business/rbi-observes-irregular-practices-in-grant-of-loans-against-gold-jewellery-12832791.html	RBI observes irregular practices in grant of loans against gold jewellery	Representative image.Related stories.	The Reserve Bank of India (RBI) on September 30 said that it has observed irregular practices in granting of loans against a pledge of gold ornaments and jewellery in select supervised entities (SEs). The major deficiencies include shortcomings in the use of third parties for sourcing and appraisal of loans, valuation of gold without the presence of the customer, and inadequate due diligence and lack of end use monitoring of gold loans, the RBI said in a release. Further, the deficiencies also include lack of transparency during auction of gold ornaments and jewellery on default by the customer, weaknesses in monitoring of LTV, and incorrect application of risk-weights, the release added. The central bank found this out after carrying out a review of the adherence to prudential guidelines as well as practices being followed by SEs with regard to loans against pledge of gold ornaments and jewellery. The review as well as the findings of the onsite examination of select SEs by the Reserve Bank revealedÂ several irregular practices in this activity, the release further stated. The RBI has advised all SEs to comprehensively review their policies, processes and practices on gold loans to identify gaps, including those highlighted in this advice, and initiate appropriate remedial measures in a timebound manner. Action taken with regard to the above may be informed to the Senior Supervisory Manager (SSM) of the Reserve Bank within three months of the date of this circular, the release said.	2024-09-30 19:28	2024-09-30	19:28
moneycontrol.com	https://www.moneycontrol.com/news/business/ipo/diffusion-engineers-ipo-subscribed-114-5-times-on-final-day-check-latest-grey-market-premium-12832788.html	Diffusion Engineers IPO subscribed 114.5 times on final day, check latest grey market premium	Diffusion Engineers IPO.Related stories.	The initial share sale ofDiffusion EngineersÂ garnered strong interest from investors even on the final day of bidding, September 30, as the IPO was subscribed 114.5 times despite sharp correction in the secondary market. The company that makes welding consumables, wear plates and parts, and heavy machinery for core industries launched its IPO on September 26 to raise Rs 158 crore, which solely comprises a fresh issue. The price band was Rs 159-168 per share. Investors have bought 75.54 crore equity shares during three days of subscription, against the offer size of 65.98 lakh equity shares, bids data available on the exchanges showed. Non-institutional investors topped the list, buying 207.60 times the part set aside for them, while qualified institutional buyers and retail investors bought 95.74 times and 85.61 times the allotted quotas. Also read:ÂSwiggy, Hyundai India, Acme Solar, Vishal Mega Mart, Mamata Machinery IPOs get SEBI approval Employees, too, were aggressive in bidding the issue, picking 95.03 times the reserved portion. The Maharashtra-based company has reserved 50,000 equity shares for its employees who will get shares at a discount of Rs 8 per share to the final IPO price. Diffusion Engineers, which offers specialised repair and reconditioning services for heavy machinery and equipment, will spend Rs 71.4 crore and Rs 30.4 crore out of the net fresh issue proceeds (total IPO funds less issue expenses) for expansion of existing manufacturing facility, and setting up of a new manufacturing facility in Nagpur, respectively. Further, Rs 22 crore will be utilised for working capital requirements and the remaining funds for general corporate purposes. Also read:ÂAll Time Plastics files IPO papers with Rs 350 crore fresh issue and OFS of 52.5 lakh shares The company will finalise the basis of allotment of IPO shares by October 1, and the equity shares will be credited to the demat accounts of eligible investors by October 3. Investors can start trading in its equity shares on the BSE and NSE, effective October 4. Its IPO shares were available at more than 30 percent premium over the upper price band in the grey market, observers said. The grey market is an unofficial market wherein IPO shares can be bought and sold till the listing. The company operates its business through four manufacturing facilities in Nagpur, Maharashtra. It also involves in trading of anti-wear powders and welding and cutting machinery.	2024-09-30 19:23	2024-09-30	19:23
moneycontrol.com	https://www.moneycontrol.com/news/business/shapoorji-pallonji-gets-bondholders-approval-to-postpone-rs-1800-cr-interest-payment-to-december-end-12832707.html	Shapoorji Pallonji gets bondholders' approval to postpone Rs 1,800 cr interest payment to December end	SP Group had to make an interest payment of close to Rs 1,800 crore on these NCDs by September 30..Related stories.	Shapoorji Pallonji (SP) Group has secured lender approval to defer a massive Rs 1,800 crore interest payment due on September 30 on its Rs 14,300 crore non-convertible debentures (NCDs) sold last year to December 31, people familiar with the development said. The approval from lenders was received last week, the people said, requesting anonymity. In June last year, SP Group entity Goswami Infratech raised Rs 14,300 crore through rupee-denominated zero-coupon NCDs from a group of investors, including Cerberus Capital, Varde Partners, Canyon Capital, Davidson Kempner, as well as existing lenders Deutsche Bank, Edelweiss Special Opportunities Fund and Ares SSG. SP Group had to make an interest payment of close to Rs 1,800 crore on these NCDs by September 30. Moneycontrol reported on September 19 that SP group was is in talks with its lenders, including Davidson Kempner and Deutsche Bank, to raise around Rs 2,000 crore in additional debt to make the interest payments, in the event the approval to extend the deadline did not come through. The request for extension of payment timelines was necessitated because sale of certain assets - Gopalpur port - as well as the pending IPO of group company Afcons Infrastructure has taken longer than anticipated. In January, Shapoorji sold the Dharamtar port to JSW group and a consideration of Rs 250 crore received from the sale was paid to the NCD holders. On March 26, SP Group said it had entered into an agreement with Adani Ports and Special Economic Zone to sell a 95 percent stake in Gopalpur Port in Odisha for Rs 1,349 crore. Adani Ports will purchase a 56 percent stake in the port from SP Group and 39 percent from Orissa Stevedores. In its notice to the NCD holders earlier this month, SP group said that the government of Orissa has approved the change in shareholding of Gopalpur port and the group expects to soon receive a formal approval, and thus hopes to consummate the deal by end of September or early October. SP group will receive a consideration of Rs 850 crore from this sale. The group had envisaged that the sale of these port assets could fetch it approximately Rs 1,500 crore, but the sale considerations have fallen short of those targets. Additionally, Shapoorji is targeting an October launch for the Rs 7,000-crore IPO of Afcons Infrastructure Ltd. As part of the IPO, Goswami Infratech will sell shares worth Rs 5,750 crore, which is to be used towards reducing the groupâ€™s debt. Simultaneously, SP group is also looking to part refinance a loan taken against shares of Tata Sons, held by Sterling Investment Corp. Pvt Limited, which owns a little more than 9 percent of Tata Sons. Moneycontrol reported on May 6 that SP group has begun talks with Power Finance Corporation (PFC) to secure as much as $1.2 billion to refinance part of the Rs 20,000 crore debt availed against Tata Sons shares. The funds, according to SP Groupâ€™s corporate filings, were raised by the Mistry family through Sterling Investment Corp. Pvt Ltd (SICPL), which owns a little more than nine percent of Tata Sons. The bonds, with a maturity of 3.5 years were sold in 2021, were primarily subscribed by alternative investment manager Ares SSG and hedge fund Farallon Capital. A spokesperson for SP Group could not be immediately reached for a comment.	2024-09-30 19:16	2024-09-30	19:16
moneycontrol.com	https://www.moneycontrol.com/news/business/crude-price-volatility-experts-warn-against-fuel-price-cuts-this-election-season-12832690.html	Crude price volatility: Experts¬†warn¬†against fuel price cuts this election season	In India, low crude oil prices could translate into a reduction in prices of diesel and petrol..Related stories.	While election season is typically an opportune time to announce oil price cuts, the ongoing crude price volatility ‚Äďwith crude prices oscillating between $90 and $70 per barrel ‚Äď could make such a move tricky this time, oil ministry sources and experts said. A senior oil ministry official recently said that the oil marketing companies (OMCs) have not reduced retail fuel prices despite sinking crude oil prices due to high volatility, adding that the companies would further monitor prices before deciding on a price cut. With crude prices hitting three-year lows recently and staying around $70 a barrel for a month now, state-run oil OMCs have the fiscal space to cut prices but they may prefer to further monitor the situation, according to experts. ‚ÄúThe government is likely to wait for some more time to see if the slump in oil prices is transitory or will last. The benefit will flow if the decline in oil prices stays. There is a demand slump from China but also because of geopolitical risks. Our sense is that oil will not stay at the current levels as the average oil price is expected at $80 per barrel for this year, lower than last year, said DK Joshi, Chief Economist at rating agency Crisil. Opportunity to cut fuel prices Petrol & Diesel Rates Today Monday, 30th September, 2024 PetrolRate in Mumbai Today Monday, 30th September, 2024 DieselRate in Mumbai Today In India, low crude oil prices could translate into a reduction in prices of diesel and petrol‚ÄĒwhich the OMCs have kept unchanged since March citing volatility in crude prices. ‚ÄúThere is a combination of oversupply and weak demand in the oil market. The advanced countries are reeling under slow growth. There is a massive slowdown in China, which is a cause of concern for the oil market. Elections in the advanced countries are also creating uncertainty. There is uncertainty in the global economy. Do not think the OMCs can cut prices at this point. Too much fluctuation in the retail market is not good for the Indian economy,‚ÄĚ NR Bhanumurty, Director, Madras School of Economics, toldMoneycontrol. ‚ÄúThe OMCs rather use the profits to transfer resources to the government as a contribution to non-tax revenue. Along with that, the OMCs have past subsidy dues of around Rs 25,000 crore to be paid to upstream oil companies like OIL and ONGC. The OMCs would rather use it to repay that. The additional resources can also be used to set up a price stabilisation fund for the oil market similar to that exists for agriculture,‚ÄĚ he added. Oil prices recently have primarily been driven by global demand despite the Organisation of Petroleum Exporting Countries (OPEC) enforcing supply cuts. The prices slumped to the lowest in three years in mid-September. Oil exporting countries, majorly concentrated in the Middle East, have been unable to support prices as demand remains weak from China, the world‚Äôs largest crude importer and second-largest consumer, and dwindling demand from other countries as well as they move towards cleaner fuels. Some experts, however, believe a price cut by OMCs would help reduce inflation and boost consumption demand in the country. ‚ÄúIt is opportune time for OMCs to cut prices to reduce headline inflation. The RBI also targets headline inflation. Consumption demand will also get a boost as transport affects all other prices. Fuel price is like interest rate change. The government should revert to oil prices at the pump being related to global prices. This will surely help in improving the overall macroeconomic situation,‚ÄĚ Rajiv Kumar, former Vice Chairman, NITI Aayog. What's causing the volatility? Continuing its downward trend, crude oil in September witnessed a striking dent as prices began hovering close to $70 per barrel and nosedived to around $69 a barrel on September 10‚ÄĒthe lowest since December 2021. Slowing consumption from China due to weaker-than-expected economic growth and deeper penetration of cleaner fuels and electric vehicles in the country has weighed on crude prices. OPEC cut its forecast for oil demand growth from China to 653,000 barrels per day (bpd) from 700,000 bpd for 2024, in its latest oil report. Moreover, the US is pumping record-high levels of crude oil this year, leading to worries of an oversupply in the market amid dwindling demand. Oil supply for other countries including Libya and some Middle-East countries is also expected to rise. Morgan Stanley earlier in the month said that the global oil market is facing a period of demand weakness similar to those seen during recessions. ‚ÄúThe weak demand from China has led to a slump in global crude oil prices, not excess supply from the US or OPEC. Also, the GDP growth of India hovering around 7 percent and not more, and the overall global economy also not showing huge momentum has led to weak demand. In the advanced countries, the overall oil demand is not on the rise. There is also oversupply by Russia. There is a disconnect in the market about understanding the oil supply situation,‚ÄĚ said Kumar. Crude oil in 2024 Global oil prices have been highly volatile this year, breaching $90 per barrel in April due to geopolitical tensions in the Middle East, before plummeting to around $70- $72 a barrel currently due to demand concerns from China. The first half of the year saw relatively high prices on account of supply cuts from OPEC and its allies (OPEC+) and Middle-East tensions. However, prices soon began plummeting in the year due to the limited impact of the war on the crude oil market. Crude prices further declined on the oil cartel‚Äôs decision to withdraw voluntary cuts starting September 2024. OPEC has now, however, decided to delay the planned increase in the group‚Äôs output for two months starting October, stating that it could further pause or reverse the hikes. Impact on India: Petrol, diesel prices At home, retail fuel prices are determined by the OMCs based on international oil prices as India is dependent on imports for around 87 percent of its crude requirements. Typically, OMCs revise retail petrol and diesel prices daily, based on the rolling average of international benchmark prices over the past 15 days. However, the companies had left¬†fuel¬†prices unchanged since March despite a correction in crude oil prices. The companies had last reduced the prices of petrol and diesel by Rs 2 per litre across the country in March ahead of the Lok Sabha elections. ‚ÄúLow crude oil price is gainful for India as it impacts inflation, CAD and bond yields. Some benefit is already flowing to other forms of fuel which are directly linked to global prices, the issue is only in the case of petrol and diesel,‚ÄĚ said Joshi. Performance of oil companies In recent quarters, state-run OMCs including Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have booked strong profits, recovering entire losses made by them in 2022 and 2023. The Indian refiners were hit in the first quarter of the current fiscal (Q1FY25) with their net profits declining sharply from the last year due to weak refining margins. Despite weak gross refining margins, the state-run OMCs have managed to book decent profit in the quarter, owing to declining crude prices coupled with a freeze on retail fuel prices for Indian consumers. The companies are expected to make high profits in the second quarter, considering the slump in crude prices. Oil import bill India‚Äôs oil import bill was cut by 16 percent year on year in 2023-24 helped by declining crude prices, showed oil ministry data. In FY24, India‚Äôs oil import bill stood at $132 billion as it imported 232.5 million tonnes of crude oil. Even though, India imported almost the same amount of oil in the previous year but import bill was reduced helped by lower prices. With over 85 percent import dependency, weak crude prices translate into lower import bill for India. For August 2024, the crude oil import bill of India was $11.6 billion.	2024-09-30 19:14	2024-09-30	19:14
moneycontrol.com	https://www.moneycontrol.com/news/india/nazrallahs-killing-sparks-wave-of-reactions-from-kashmir-mufti-to-abdullah-who-said-what-12832779.html	Nazrallah's killing sparks wave of reactions from Kashmir: Mufti to Abdullah â€“ Who said what?	Israel's killing of Hezbollah leader Hassan Nasrallah sparked protests in Srinagar and Budgam districts of Jammu and Kashmir. (Reuters Photo).Related stories.	Anti-Israel protests erupted in Kashmir a day after the killing of Hezbollah chief Hassan Nazrallah in the southern Beirut suburb of Dahiyeh on Friday. The development was confirmed by the Israel military and the Lebanese armed group Hezbollah on Saturday. Over the weekend, hundreds of Kashmiri protesters took to the streets holding up pictures of Hezbollah, chanting slogans of â€śOh martyrs of Palestine, we are with you!â€ť and carrying signs and banners with messages denouncing Israel and the United States. The incident, which came in the midst of the ongoing Assembly elections in Jammu and Kashmir â€” the first since the abrogation of Article 370 â€” also sparked a flurry of reactions from political parties based in the Kashmir province. Who said what? Mehbooba Mufti (PDP):Among the first to react to the development, PDP chief and former Jammu and Kashmir Chief Minister Mehbooba Mufti denounced Israelâ€™s action in Lebanon and cancelled her election campaign in solidarity with the â€śmartyrs of Lebanon and Gaza especially Hassan Nasarullahâ€ť. â€śCancelling my campaign tomorrow in solidarity with the martyrs of Lebanon and Gaza especially Hassan Nasarullah. We stand with the people of Palestine and Lebanon in this hour of immense grief and exemplary resistance,â€ť Mufti wrote in a post on X. Omar Abdullah (JKNC):Former Chief Minister and vice-president, National Conference, Omar Abdullah said the killing of Nasrallah in an Israeli airstrike indicates that war is hovering around the region. He said that his party condemns the Israeli aggression on Palestinians, and demanded that the international community pressurise Israel to stop killing people in Palestine and Lebanon. â€śWhat happened yesterday (Nazrallahâ€™s killing), it looks like war is hovering around the region. The Government of India and the prime minister along with other international leaders should put pressure on Israel to stop the killings so that peace is established in the region," Abdullah said. Aga Syed Ruhullah Mehdi (JKNC):Reacting to the Hezbollah chiefâ€™s killing, National Conference MP Aga Syed Ruhullah Mehdi announced that he had called off his campaign for NC candidates in Kashmir and termed Nasrallahâ€™s â€śmartyrdomâ€ť as a â€śgrave loss to the Palestinian resistanceâ€ť. â€śThey want to break the spine of the Palestine resistance, they want to weaken it. His (Hezbollah chief Hassan Nasrallahâ€™s) martyrdom caused a grave loss to the resistance...They are fighting Israel for their existence and Israel is trying to weaken it...This is a great loss...He was a great power against Israel, he had provided strength to the resistance...This (calling off election campaign) was a protest, we also wanted to express solidarity with them. People of J&K understand the injustice done by Israel to Palestine...People of J&K have always stood with the people of Palestine," he said. Iltija Mufti (PDP):Daughter of former CM Mehbooba Mufti and grand-daughter of PDP founder and ex-CM Mufti Mohammad Sayeed, Iltija Mufti defended her motherâ€™s decision to call off the campaign for the Assembly polls. â€śIsraelâ€™s murderous regime continues to enjoy unbridled impunity as it carpet bombs Lebanon while simultaneously carrying out a systematic genocide in Gaza. We mourn the death of Hassan Nasrallah & those martyred today,â€ť she said in a post on X on Saturday. Hilal Akbar Lone (JKNC):Joining ranks with his party colleague and MP, Hilal Akbar Lone, the National Conference candidate from Sonawari also called off his campaign for the elections. â€śKindly be informedâ€¦Our all programmes for tomorrow are canceled over the martyrdom of Sayyed Hassan Nasrallah. Our hearts are ripped! (sic),â€ť Lone said in a post on X on Saturday. Imran Raza Ansari (Peopleâ€™s Conference):The sitting MLA from Pattan whose family has long had complete hold over the seat, Imran Raza Ansari, a Shia cleric, and the Peopleâ€™s Conference candidate, also called off his campaign in protest against the Hezbollah chiefâ€™s killing. â€śA lion has fallen, his roar still remains. In every heartbeat his struggle sustains. I am suspending all campaigning activities to honour the supreme sacrifice made by Shaheed Sayed Hassan Nasrallah,â€ť he said in a post on X. The reactions by Kashmir leaders have come in for for criticism from BJP leaders who have questioned their stand on the killing of a militant leader while choosing to remain silent when Hindus were being killed in Bangladesh. Kavinder Gupta (BJP): â€śThese are crocodile tears and people understand the intent behind this,â€ť Gupta said, reacting to the decision by Mehbooba Mufti to call off her poll campaign. â€śWhy does Hassan Nasarullah's death pain, Mehbooba Mufti? When Hindus in Bangladesh are attacked and killed they are tight-lipped,â€ť he said. Anurag Thakur (BJP):The BJP MP, who is campaigning in Jammu and Kashmir for the party, slammed Mufti for cancelling her campaign in protest against Nasralah's killing. "These are the parties that supported separatists, terrorists and those who were involved in stone-pelting incidents. Parties like JKNC, PDP and Congress support terrorism. They are aware of what is happening in Gaza but are unable to see what's happening with Hindus in Dhaka. They are unable to see the killings of thousands of people due to terrorism. They are in favour of terrorism and not democracy," the former Union minister said.	2024-09-30 19:13	2024-09-30	19:13
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/sebi-fines-nses-subsidiary-kra-rs-12-lakh-for-violations-including-failure-to-report-cyberattacks-12832780.html	Sebi fines NSE's subsidiary KRA Rs 12 lakh over violations including failure to report cyberattacks	The Seb order noted the entity's attempts to take corrective actions..	Market regulator SEBI has fined NSE Data and Analytics Ltd, formerly known as DotEx International Ltd, Rs 12 lakhs over irregularities with respect to BCP/DR Â policy, delay in sending acknowledgement letters, and irregularities in system audit reports and cyber security audit framework, among others. NSE Data and Analytics is a KYC Registration Agency (KRA) and a 100 percent step-down subsidiary of NSE Ltd. In an order dated September 30, the Securities and Exchange Board of India (SEBI) stated, "The evidence/observations on record against noticee, ostensibly suggest irregularities with respect to BCP/DR (business continuity plan/disaster recovery) policy, delay in sending acknowledgement letters, irregularities w.r.t system audit reports and cyber security audit framework viz, non closure of VAPT activity within timelines and failure to get the same reflected in the Cyber security audit report, failure to capture ATR of previous SCOT meetings in the subsequent meetings, failure to include clauses pertaining to reporting of Cyber-attacks, threats, cyberincidents and breaches in its policy documents and clauses pertaining to periodicity of conducting cyber-security audit in its policy document, non-validation of KYC records and non segregation of operations and Infrastructures cannot be taken leniently and such violations deserve to be adequately penalised. The very purpose of the said provisions is to deter wrong doing and promote ethical conduct in the securities market. The Noticee (NSEÂ KRA)Â was under an obligation to abide by the provisions of the Intermediaries Regulations, KRA Regulations and SEBI circulars, which it failed to do during the IP." It added, "Although the noticee has stated that it had taken various corrective steps, the fact that irregularities were committed by the noticee during the aforementioned IP (investigation period) which cannot be ignored. The noticee being a registered intermediary is expected to adhere to fair practices and maintain a high degree of professionalism in the conduct of its business. The violations as established above certainly deserve imposition of penalty on the noticee." (This is aÂ developingÂ story.Â The article will be updated.)	2024-09-30 19:09	2024-09-30	19:09
moneycontrol.com	https://www.moneycontrol.com/news/india/enforcement-directorate-books-karnataka-cm-siddaramaiah-others-in-muda-case-12832739.html	ED books Karnataka CM Siddaramaiah, others in MUDA land scam case	Karnataka CM Siddaramaiah.	The Enforcement Directorate on September 30 booked Karnataka Chief Minister Siddaramaiah and some others in a money-laundering case linked to the Mysuru Urban Development Authority (MUDA), taking cognisance of a recent state Lokayukta FIR, news agency PTI reported citing sources. The federal agency has filed an enforcement case information report (ECIR) to book the chief minister and others, the report added. According to the procedure, the ED is empowered to summon the accused for questioning and even attach their assets during the investigation. A First Information Report (FIR) was filed against the CMand others in the Mysuru Urban Development Authority (MUDA) site allotment scam. The FIR was registered by the Lokayukta police on September 27 following a court order. The FIR registered by the Lokayukta police in Mysuru named Siddaramaiah as accused number one (A1) in the case, his wife BM Parvathi as A2, brother-in-law Mallikarjuna Swamy as A3, and Devaraju as A4 -- from whom Mallikarjuna Swamy purchased land and gifted it to Parvathi. On September 25, a Special Court in Bengaluru had ordered a Lokayukta police probe against CM Siddaramaiah in connection with MUDA land scam case. In the case, it is alleged that compensatory sites were given to Siddaramaiah's wife in an upmarket area in Mysuru, which had higher property value as compared to the location of her land that was "acquired" by MUDA. Also Read \|Â MUDA scam intensifies: Will Karnataka get a new chief minister soon? Opposition parties like BJP and JD(S) are calling for the chief minister's resignation and demanding that the case be handled by CBI. However, CM Siddaramaiah has said he will take the legal route. The Karnataka government has also withdrawn general consent given to CBI to investigate cases in the state, alleging that the agency was "biased". The Congress leadership, including Leader of the Opposition in the Lok Sabha Rahul Gandhi and party president Mallikarjun Kharge, are yet to comment on the issue, indicating they are holding off on a decision regarding a change in leadership in Karnataka. (With PTI inputs)	2024-09-30 18:59	2024-09-30	18:59
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/fiis-net-sell-shares-worth-rs-9792-crore-diis-net-buy-rs-6646-crore-12832712.html	FIIs net sell shares worth Rs 9,792 crore, DIIs net buy Rs 6,646 crore	In the year so far, FIIs have net sold shares worth Rs 1.39 lakh crore, while DIIs have bought Rs 4.19 lakh crore shares..Related stories.	Domestic Institutional Investors (DII) net bought shares worth Rs 6646 croreÂ while ForeignÂ institutional investors (FIIs) net sold shares worth Rs 9792 crore, provisional data from NSE showed on September 30. DIIs boughtÂ Rs 17,881 crore worth of shares and sold shares worth Rs 11,235 crore. Meanwhile, FIIsÂ purchasedÂ Rs 16,621 crore in shares and offloaded equities worth Rs 26,413 during the trading session. In the year so far, FIIs have netÂ sold shares worth Rs 1.39 lakh crore, while DIIs have bought Rs 4.19 lakh crore shares. Also read:ÂTaking Stock: Profit booking drags Nifty below 25,850, Sensex slips 1,272 pts; media, metals shine Market ViewIt was yet another volatile day on the market.Â At close, the Sensex was down 1,272.07 points or 1.49 percent at 84,299.78, and the Nifty was down 368.20 points or 1.41 percent at 25,810.80. Except metal, all indices closed in the red.Â Hero MotoCorp, Trent, Axis Bank, Reliance Industries, and Bharat Electronics were among the top losers on the Nifty, while gainers were JSW Steel, Hindalco Industries, NTPC, Tata Steel, and Britannia Industries. On today's market, Vikram Kasat, Head - Advisory, PL Capital - Prabhudas Lilladher noted that the Indian market reflected bearish sentiment today. But added that despite the downturn, sectors like consumer durables and automobiles may see increased demand during the upcoming festive season, although rising inflation could temper growth. "Attention will also be on key economic data releases in the coming weeks, including: Infrastructure Output, Current Account Balance, Manufacturing PMI, WPI Inflation. Additionally, upcoming RBI policy decisions could significantly influence market direction,â€ť he said.	2024-09-30 18:56	2024-09-30	18:56
moneycontrol.com	https://www.moneycontrol.com/news/india/supreme-court-asks-iit-dhanbad-to-grant-admission-to-dalit-youth-who-lost-seat-for-not-depositing-fees-12832776.html	Supreme Court asks IIT Dhanbad to grant admission to Dalit youth who lost seat for not depositing fees	The top court used its extraordinary powers under Article 142 of the Constitution in asking the IIT Dhanbad to admit Atul Kumar into its Electrical Engineering BTech course.	The Supreme Court on Monday came to the rescue of a Dalit youth, who had lost his seat in IIT Dhanbad after missing the deadline to deposit a fee, by asking the institute to admit him to the BTech course. â€śWe cannot allow such a young talented boy to go away. He cannot be left in lurch,â€ť a bench comprising Chief Justice D Y Chandrachud and Justices JB Pardiwala and Manoj Misra said. The top court used its extraordinary powers under Article 142 of the Constitution in asking the IIT Dhanbad to admit Atul Kumar into its Electrical Engineering BTech course. â€śWe are of the view that a talented student like the petitioner who belongs to a marginalised group who did all to secure admission should not be left outâ€¦ we direct that candidate is granted admission to IIT Dhanbad and let him be in the same batch to which he would have been granted admission if the fees would have been paid,â€ť the bench said in the order. Article 142 of the Constitution empowers the top court to pass any order in the interest of justice. The parents of Atul Kumar, 18, failed to deposit Rs 17,500 as the acceptance fee by June 24, the deadline for depositing the requisite fees for blocking the seat. The parents of the youth also approached the National Commission for Scheduled Castes, Jharkhand Legal Services Authority and the Madras High Court to save the hard-earned seat. Kumar, the son of a daily wager, hails from a below poverty line (BPL) family living at Titora village in Muzaffarnagar district of Uttar Pradesh. The National Commission for Scheduled Castes also expressed its inability to help him. As he had taken JEE at a centre in Jharkhand, the youth had also moved the Jharkhand State Legal Services Authority which suggested him to approach the Madras High Court as it was IIT Madras that had conducted the exam. The high court had asked him to approach the top court.	2024-09-30 18:53	2024-09-30	18:53
moneycontrol.com	https://www.moneycontrol.com/news/business/delhi-hc-asks-spicejet-to-respond-to-lessors-execution-petition-on-return-of-aircraft-engines-12832775.html	Delhi HC asks SpiceJet to respond to lessors' execution petition on return of aircraft engines	Delhi HC asks SpiceJet to respond to lessors' execution petition on return of aircraft engines.Related stories.	The Delhi High Court on Monday asked low-cost airline SpiceJet to file its reply to a petition seeking execution of an order directing it to ground three aircraft engines and hand those over to their lessors. The court also asked the airline to file an affidavit listing out its assets and posted the execution petition for further hearing on November 13. Justice Manmeet Pritam Singh Arora also issued a court notice to the Directorate General of Civil Aviation (DGCA), with a direction to its competent officer to remain present in the court on November 13, along with a status report confirming due compliance of the court's August 14 order. The court said in its status report, the DGCA will mention the status of the re-delivery of the engines. The high court had, in its August 14 order, directed SpiceJet to ground the three engines by August 16 and hand those over to their lessors within 15 days. The single-judge bench had directed the airline to offer prior inspection of the engines to the lessors â€” Team France 01 SAS and Sunbird France 02 SAS â€” through their authorised representatives at the Delhi airport within seven days. SpiceJet had challenged the order before a division bench of the high court, which upheld the decision. Later, the Supreme Court also upheld the high court's order. On Monday, SpiceJet's counsel submitted that they are ready to hand over the engines but for returning those, a technical device called engine stand is required to be procured. "We are not using the engines but it will take approximately 30 days at our end to procure those stands. If they (lessors) can procure it sooner, they are at liberty to do so," senior advocate Amit Sibal, appearing in the court on behalf of SpiceJet, said. The submission was opposed by senior advocate Rajshekhar Rao, who represented the lessors in the matter. He said the airline was aware since August 14 that there was a direction for re-delivery of the engines and their inaction in procuring the engine stands till date cannot be countenanced. The court granted liberty to the lessors to procure an engine stand at an earlier date at the risk and cost of the airline. "It is a matter of record that there was no stay granted to the judgment debtor (airline) after the August 14 order and the order of the division bench is also of September 11 and there is no explanation on record by the judgment debtor for not making arrangements for an engine stand unit after the passing of the September 11 judgment," it said. Regarding the direction in the August 14 order for an inspection of the engines, SpiceJet's counsel said the airline will ensure that the inspection is offered to the lessors on or before October 7, subject to the lessors providing the names of their representatives during the course of the day. He said the directions for re-delivery of the engines, in accordance with the August 14 order, will be complied with. The lessors' counsel said since the directions in the August 14 order, which were upheld by the high court's division bench and the Supreme Court, were not complied with by the airline within the time granted in the order, the lessors have sent two e-mails to DGCA officials. However, no response has been received from the DGCA, the lawyer said. The single-judge bench passed the August 14 order on pleas moved by the lessors seeking a direction to SpiceJet to hand over the possession of the three engines on the termination of the lease agreements. It was stated in the pleas that following the termination, the plaintiffs had directed the airline to ground and re-deliver the engines and pay all outstanding dues, but the carrier had failed to do so. "It is, however, clarified that the defendant will remain liable for making payments, which it undertook in an order dated May 29, 2024, towards the admitted outstanding of USD 4.8 million and towards the weekly payments arising on account of the use of the engines under the aegis of this court. "The return of the engines does not absolve the defendant from its liability for the payments, which have admittedly fallen due, and to that extent the plaintiff is entitled to recover the said amount from the defendant through execution of the order dated May 29, 2024," the court had said.	2024-09-30 18:52	2024-09-30	18:52
moneycontrol.com	https://www.moneycontrol.com/news/business/tcs-to-announce-q2-results-on-oct-10-board-likely-to-consider-second-interim-dividend-for-fy25-12832768.html	TCS to announce Q2 results on Oct 10, firm's board to consider second interim dividend for FY25	TCS to announce Q2 results on Oct 10, board likely to consider second interim dividend for FY25.	IT major Tata Consultancy Services Ltd (TCS) on September 30 said its board will meet on October 10 to announce second quarter results. Thecompanyalso said, in an exchange filing, that its board will "consider declaration of second interim dividend to the equity shareholders". "The second interim dividend, if declared, shall be paid to the equity shareholders of the CompanyÂ whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Friday, October 18, 2024, which is the Record Date fixed for the purpose," said TCS. "... a meeting of the Board of Directors is scheduled to be held on Thursday, October 10, 2024 to approve and take on record the audited condensed standalone and consolidated financial results of the Company under Indian Accounting Standards (Ind AS) for the quarter and six month period ending September 30, 2024," said TCS in a regulatory filing. In July, TCS had announced an interim dividend of Rs 10 per share for the financial year 2024-25 (FY25).Â The Q2 earnings conference call will be held at 7 pm on October 10, said the Tata group company. On September 30, TCS' shares on BSE closed nearly 1 percent lower at Rs 4,271 apiece.	2024-09-30 18:50	2024-09-30	18:50
moneycontrol.com	https://www.moneycontrol.com/news/india/us-mission-opens-2-5-lakh-additional-visa-slots-for-indians-12832769.html	US Mission opens 2.5 lakh additional visa slots for Indians	US Mission opens 2.5 lakh additional visa slots for Indians.	The US Mission in India has opened an additional 250,000 visa appointments for Indian travellers, including tourists, skilled workers and students, officials said on Monday. â€Ż The recently released new slots will help Indian applicants take timely interviews, facilitating the travel which is the backbone of the people-to-people ties that underpin the US-India relationship, they said. "Prime Minister Narendra Modi and President Joe Biden set an ambitious goal to improve and expedite the visa process and I am proud to say that we have delivered on that promise.â€ŻOur consular teams at the embassy and four consulates work tirelessly to ensure that we meet the surging demand," said US Ambassador to India Eric Garcetti. More than 1.2 million Indians have travelled to the United States in 2024, a 35 per cent increase over the same period in 2023.â€Ż "The US Mission to India has already surpassed one million nonimmigrant visa applications for the second consecutive year.â€Ż "During our student visa season this summer, we continued to process record numbers, and all first-time student applicants were able to obtain an appointment at one of our five consular sections around India," the US Embassy said in a statement here. "We are now focused on bringing families together, connecting businesses, and facilitating tourism. At least six million Indians already have a nonimmigrant visa to visit the United States, and each day, the Mission issues thousands more," it added. In 2023, the US issued over 1.4 lakh student visas to Indians, which is more than in any other country in the world, also setting a record for the third year in a row, according to the figures released by the US Embassy and Consulates in India earlier this year.	2024-09-30 18:43	2024-09-30	18:43
moneycontrol.com	https://www.moneycontrol.com/news/india/aaib-probing-airprox-incident-involving-el-al-qatar-airways-planes-over-arabian-sea-12832735.html	AAIB probing airprox incident involving EL AL, Qatar Airways planes over Arabian sea	AAIB probing airprox incident involving EL AL, Qatar Airways planes over Arabian sea.	The Aircraft Accident Investigation Bureau (AAIB) is probing an airprox incident involving planes of EL AL Israel Airlines and Qatar Airways over the Arabian Sea in March this year and the agency is analysing the data pertaining to the aircraft and flight crew. Generally, airprox or air proximity refers to two planes being closer in the airspace beyond the mandated separation requirement. On March 24, the minimum separation between the two planes was lateral 9.1 nautical miles or around 1 minute of each other whereas the standard separation should have been 10 minutes, according to AAIB's preliminary report on the incident. The incident took place in the Mumbai Flight Information Regions (FIR). EL AL Israel Airlines' Boeing 777 aircraft was flying from Israel to Bangkok while Qatar Airways' Boeing 777 plane was operating from Doha to Male. AAIB is investigating the incident as it happened in the Mumbai Flight Information Region. In the preliminary report, AAIB said evidence collected during the Airport Authority of India, Mumbai ATS unit visit are being analysed. "Documents and data received from M/s EL AL Israel Airlines Ltd. and Qatar Airways pertaining to the involved aircraft and flight crew are being analysed," it added.	2024-09-30 18:36	2024-09-30	18:36
moneycontrol.com	https://www.moneycontrol.com/news/india/united-in-triumph-nita-ambani-celebrates-indias-olympics-and-paralympics-athletes-12832685.html	United in Triumph: Nita Ambani celebrates India's Olympics and Paralympics athletes	Nita Ambani with the Indian Hockey Team during the Reliance Foundationâ€™s United in Triumph event at Antilia , Mumbai India on 29th September..Related stories.	Reliance Foundation chairperson and IOC member Nita Ambani honoured Indiaâ€™s Olympic and Paralympic athletes on September 29Â at her residence Antilia in Mumbai. The event titled â€˜United in Triumphâ€™ celebrated the unifying power of sports by bringing together 140 Olympians and Paralympians on one platform, celebrating their success and remarkable journeys with a focus on unity and inclusivity. Speaking at the event, Nita Ambani said: â€œThis is truly historic. Over the last two months, ourÂ Olympians and Paralympians proudly took the tricolor to the world! Tonight, for the first time, they are all under one roof. Tonight, for the first time, there are over 140 Olympic and Paralympic athletes who have come together on the same platform. United in Triumph, United in Celebration and United in the inclusive spirit of sport." She also spoke about women in sports and hailed the contribution of female athletes to the countryâ€™s Olympic successes. She said, "Their successes are even more special because of the difficulties women face in pursuing professional sport. Not just economic challenges, even getting permission from their families, or finding facilities to train, access to physios and rehab centres, or simply how far they have to travel from their villages to reach a coach. Itâ€™s a long and difficult journey for girls to get recognized in sports. And despite that, our female athletes have reached the pinnacle of success. They are sending out a strong message to the little girls who are watching â€“ a message that they are unstoppable and that nothing is impossible for them!" Among the attendees were Olympic and Paralympic medalists such as Neeraj Chopra, Manu Bhaker, and Murlikant PetkarÂ -- India's first-ever Paralympic gold medalist. Also present were Devendra Jhajharia, the first Indian to win two Paralympic gold medals and the President of the Paralympic Committee of India, alongside Sumit Antil, Nitesh Kumar, Harvinder Singh, Dharambir Nain, Navdeep Singh, and Praveen Kumar, among others. The ceremony was also attended by Indian sporting legends like Deepa Malik, Sania Mirza, Karnam Malleswari, and Pullela Gopichand. Along with Indiaâ€™s star athletes, Bollywood actors Kartik Aryan and Ranveer Singh, who have acted in sport centric movies also attended the event.	2024-09-30 18:31	2024-09-30	18:31
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/sebi-fines-anand-rathi-for-various-violations-including-not-settling-funds-of-inactive-clients-12832716.html	Sebi fines Anand Rathi for various violations, including not settling funds of inactive clients	The brokerage was also found to have passed on the penalty for short-collection of margin to clients..Related stories.	The market regulator has fined Anand Rathi Share and Stock Brokers Ltd Rs 10 lakh for various violations of norms. In an order dated September 30, the Securities and Exchange Board of India (Sebi) stated that the brokerage did not settle fundsÂ of inactive clients, passed on penalty for short collection of upfront margins onto clients, did not collect adequate margins from clients, had not done adequate capacity planning and set appropriate triggers to monitor capacity utilisation, had not reported technical glitches in seven instances and did not review business continuity plan adequately. The order stated, "It is observed that the Noticee (Anand Rathi Share and Stock Brokers) was under a statutory obligation to abide by and comply with the provisions of the Circulars / directions issued by SEBI and stock exchanges, which they failed to do during the inspection period. The very purpose of the said provisions is to deter wrongdoing and promote ethical conduct in securities market. While remedial action has been taken in some cases, Noticee being a registered intermediary is expected to take the statutory compliances seriously and take extra care to maintain a high degree of professionalism in the conduct of their business. The violations as established above certainly deserve imposition of penalty." Also read:ÂSebi fines Nirmal Bang for violation done by brokerage's authorised person It added that the penalty imposed by MCX and NCDEXÂ was being taken into consideration while imposing penalty. (ThisÂ article will be updated.)	2024-09-30 18:30	2024-09-30	18:30
moneycontrol.com	https://www.moneycontrol.com/technology/oneplus-pad-2-review-a-solid-ipad-alternative-article-12832737.html	OnePlus Pad 2 review: A solid iPad alternative	OnePlus Pad 2.Related stories.	Android tablets have largely struggled to escape the iPadâ€™s long shadow. When the iPad was launched, there was a flurry of mediocre Android tablets. The perception that no one but Apple could get the tablet rightly persisted for quite a while. But things are changing. In recent years, Android tablets have quietly been levelling up by offering a blend of hardware and software at competitive prices. Plus, thereâ€™s a market for non-iPad tablets â€” people who donâ€™t want to buy the iPad for a myriad reasons. Samsung, Xiaomi, and most recently OnePlus have upped the ante when it comes to tablets. OnePlus Pad 2 comes as a successor to a rather good debut in the tablet space from OnePlus last year. What also works in the favour of the Pad 2 is that OnePlus has created an ecosystem for the device to thrive. But is it worth your money? Read on to find out more: OnePlus Pad 2 review: Design and display The OnePlus Pad 2, while visually similar to its predecessor, has a new design that exudes a premium aesthetic with its sleek, unibody metal design. The rounded edges and the flattened top give it a striking look. At 584 grams, the tablet â€” without the keyboard â€” is rather portable and easy to carry around. OnePlus has experimented with the keyboard this time. Thereâ€™s a new two-piece smart keyboard. The back case is now separate and can attach nicely to the rear of the tablet. The keyboard sticks to the magnets that are attached on the tablet. This gives it a kickstand look and reminiscent of the early generation Microsoft Surface devices. The new matte Nimbus Grey colour provides a more sophisticated aesthetic to the OnePlus Pad 2 compared to its predecessor. But I am not sure if this is a design that would be appreciated by many. For starters, it takes time to get used to the two-piece stand. The keyboard when attached does seem a bit wobbly all the time. Not to forget, it totally kills the whole laptop vibe as it is literally impossible to keep the tablet on your lap with the keyboard and work on it. Also, the keyboard is on the heavier side at close to 504 grams. The OnePlus Pad 2 features a vibrant 12.1-inch 3K display. This slightly larger screen, coupled with the unique 7:5 aspect ratio, delivers a more immersive viewing experience, especially for content consumption and productivity tasks. One of the most notable improvements is the increased brightness, reaching a peak of 900 nits. This makes the OnePlus Pad 2 significantly more usable in outdoor settings, ensuring crisp and clear visuals even under direct sunlight. The combination of a larger, higher-resolution display with enhanced brightness makes the Pad 2 one of the better Android tablets out there. Especially in this price range. OnePlus Pad 2 review: Performance Itâ€™s no surprise to see AI features coming to tablets as well. OnePlus brings its AI phone features like AI Eraser 2.0, Smart Cutout 2.0, and AI Toolbox, to the OnePlus Pad 2. The Recording Summary tool effectively converts recorded audio into text summaries, while Scan Document leverages AI for efficient document scanning. While these AI enhancements offer value at a competitive price point, I am not sure if many users would use them frequently. Speaking of OnePlus phone features, OnePlus has been creating an ecosystem of its devices and it is very much at display on the OnePlus Pad 2. For instance, OnePlus has introduced Auto Connect, a feature designed to seamlessly connect the tablet to a paired OnePlus smartphone's cellular network. To enable this functionality, users must be logged into their OnePlus account on both devices â€” very much like Apple. Also, thereâ€™s a new Content Sync feature, which allows for convenient transfer of photos, videos, and other files between OnePlus smartphones and the Pad 2. Thatâ€™s not all as thereâ€™s another feature called the Notification Sync. This enables users to view and respond to smartphone notifications directly from the tablet's physical keyboard. Itâ€™s baby steps into creating an ecosystem of devices but OnePlusâ€™ attempt is certainly notable. If you have the OnePlus earbuds, then pairing them is quite seamless as well. The OnePlus Pad 2 strikes a balance between performance and portability, offering a powerful Snapdragon 8 Gen 3 processor and a large 9,510mAh battery. The tablet's 12GB of RAM and variable 144Hz refresh rate ensure smooth multitasking and responsive app switching. Whether browsing the web, watching videos, or listening to music, the Pad 2 delivers a seamless and enjoyable experience. The battery easily lasts for over 12 hours of heavy use, and the fast charging capabilities allow for quick top-ups. Another thing that is improved on the OnePlus Pad 2 is the introduction of Open Canvas â€” an interface borrowed from OnePlus Open. Multitasking is much better on the OnePlus Pad 2 but its bogged down by certain Android and Oxygen OS limitations. However, the Pad 2 falls short in a few areas. The lack of expandable storage can be limiting for users who require significant storage space for media or files. Additionally, the cameras are underwhelming, particularly for photography enthusiasts. But having said that, not many people actually use their tablets to shoot any images or videos, so OnePlus can be given a pass on it. While the six speakers provide excellent audio quality, the absence of a 3.5mm headphone jack may be inconvenient for some users. Finally, the reliance on facial recognition for biometric authentication can be limiting for those who prefer fingerprint sensors. While the face unlock feature works well, it may not be as convenient or secure as a fingerprint scanner, especially in certain lighting conditions. The OnePlus Pad 2 runs on OxygenOS, a custom Android skin that closely resembles stock Android. While it includes a few OnePlus-specific apps, most of these can be easily deleted to maintain a clean and uncluttered interface. OnePlus has committed to providing three years of OS updates and four years of security updates. The OnePlus Pad 2's versatility is enhanced by its optional accessories. Take the new stylus â€” the Style 2 â€” which is sold separately but gets upgraded features. The Stylo 2, a magnetically attachable stylus, provides a natural writing experience with haptic feedback and fast response times. Ideal for artists and notetakers, the stylus can also be used for general navigation and simple tasks like creating grocery lists. Its 16,000 levels of pressure sensitivity cater to creative professionals, while the integrated haptic motor provides tactile feedback for gestures and pen-tip vibrations. The Stylo 2 doubles as a laser pointer when you press and hold the flat side near the tip, adding a touch of convenience to presentations and interactions with the display. While the accessories add significant value to the OnePlus Pad 2, they also increase the overall cost. The Smart Keyboard is highly recommended for those who require a keyboard for productivity, but the Stylo 2 may be less essential for casual users who don't have artistic or note-taking needs. OnePlus Pad 2 review: Verdict The OnePlus Pad 2 is a powerful Android tablet that does well on performance, display quality, and battery life. Its versatile capabilities make it suitable for gaming, consuming content and getting some routine work done. TheOnePlus Pad 2 starts at Rs 39,999 for the 8GB +128GB variant and Rs. 42,999 for the 12GB + 256GB variant. Thatâ€™s just the tablet. If you want the keyboard, then thatâ€™s another Rs 8,499. The Stylo 2 is another Rs 7,499. If you want a fully-loaded OnePlus Pad 2 â€” even with the base variant â€” it will cost you close to Rs 56,000. If you are in the market for an iPad alternative, the OnePlus Pad 2 is definitely worth a dekko.	2024-09-30 18:26	2024-09-30	18:26
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/thomas-cook-to-develop-ai-solutions-for-indias-travel-sector-12832732.html	Thomas Cook to develop AI solutions for India's travel sector	India is among the top two sources of students going abroad for education, accounting for 40% of the total international higher education expenditure worldwide..	Thomas Cook has formed a joint venture with Atirath Technologies to co-develop AI solutions for travel sector, the company said on September 30. Travel services company Thomas Cook India has formed a joint venture with Atirath Technologies to co-develop Artificial Intelligence (AI) solutions for India's travel sector, the company said on September 30. The JV will hold equal stake in Indian Horizon Marketing Services, presently wholly-owned subsidiary of Thomas Cook India. "The JV company will facilitate developing a suite of proprietary intellectual property for the travel domain utilizing Artificial Intelligence (AI), which will assist the Thomas Cook Group," the company said in a statement. The authorised capital of the JV company is Rs 3 crore. India is among the top two sources of students going abroad for education, accounting for 40% of the total international higher education expenditure worldwide. The company has cited Uber trips data that suggest Indians are travelling extensively, with the number of oversees travellers being second only to Americans. This is being updated	2024-09-30 18:24	2024-09-30	18:24
moneycontrol.com	https://www.moneycontrol.com/news/india/prayagraj-medical-student-death-family-alleges-abuse-case-registered-against-3-doctors-12832734.html	Prayagraj medical student death: Family alleges abuse, case registered against 3 doctors	Representative image.Related stories.	Police have registered an FIR against three doctors of Swaroop Rani Nehru (SRN) Hospital for their alleged involvement in the case of the suspicious death of Dr Kartikeya Srivastava, MS student of Motilal Nehru Medical College, officials said on Monday. On the complaint of the deceased's sister Dr Aditi Srivastava, a case was registered late Sunday night against SRN's Hospital Dr Shivam Gupta, Dr Sachin Yadav and Dr Anamika under Section 103 (murder) of the Bharatiya Nyaya Sanhita, Deputy Commissioner of Police, (City) Abhishek Bharti said. Dr Srivastava alleged physical and mental abuse by a second-year senior student. Dr Kartikeya Srivastava (28), a second-year MS student of Orthopaedics, was found dead in his car on Saturday night at SRN Hospital affiliated with Motilal Nehru Medical, police said earlier. ACP Kotwali Manoj Kumar Singh on Sunday said that Dr Kartikeya Srivastava, a resident of Kotdwar in Uttarakhand, allegedly committed suicide by injecting himself with a poisonous substance. DCP Bharti said on Monday that the postmortem report of the deceased Kartikeya Srivastava is yet to come, only after which the real cause of death will be known. In the FIR, Dr Aditi Srivastava alleged that since her brother was a Junior Resident and his second-year senior Shivam Gupta used to physically and mentally abuse him. Kartikeya had complained about this to Associate Professor (Orthopaedics) Sachin Yadav several times, but he did not take any action. According to the complaint, knowing that Kartikeya had a problem with his leg, Sachin Yadav made him stand for 36 to 48 hours. Apart from this, a girl named Anamika, currently a Junior Resident (ophthalmology), was Kartikeya's friend for a year and suddenly stopped talking to him. It said, that when Kartikeya spoke to Anamika about this, she told him that she was with someone else. While artikeya never called her after this, Anamika would call him from time to time. The complainant said that she suspects that Anamika's friend may have killed Kartikeya to get rid of him. A detailed probe into the matter is underway, DCP said.	2024-09-30 18:22	2024-09-30	18:22
moneycontrol.com	https://www.moneycontrol.com/news/business/personal-finance/finmin-keeps-rate-of-interest-for-small-savings-schemes-unchanged-for-q3fy25-12832731.html	FinMin keeps rate of interest for small savings schemes unchanged for Q3FY25	The government notifies the interest rates on small savings schemes, majorly operated by post offices and banks, every quarter.	The government on Monday left the interest rates on various small savings schemes unchanged for the quarter beginning October 1, 2024. "The rates of interest on various Small Savings Schemes for the third quarter of FY 2024-25 starting from 1" October, 2024 and ending on 31 December, 2024 shall remain unchanged from those notified for the second quarter (1" July, 2024 to 30 September, 2024) of FY 2024-25," said a finance ministry notification. As per the notification, deposits under the Sukanya Samriddhi scheme will attract an interest rate of 8.2%, while the rate on a three-year term deposit remains at 7.1 per cent. The interest rates for popular PPF and post office savings deposits scheme too have been retained at 7.1 per cent and 4 per cent, respectively. The interest rate on the Kisan Vikas Patra will be 7.5 per cent, and the investments will mature in 115 months. The interest rate on the National Savings Certificate (NSC) will remain at 7.7 per cent for the July-September 2024 period. Like the current quarter, the Monthly Income Scheme will earn 7.4 per cent for investors. The government notifies the interest rates on small savings schemes, majorly operated by post offices and banks, every quarter.	2024-09-30 18:15	2024-09-30	18:15
moneycontrol.com	https://www.moneycontrol.com/news/india/rg-kar-case-sc-says-tardy-progress-by-west-bengal-govt-in-cctv-installation-construction-of-toilets-12832711.html	RG Kar case: SC says 'tardy' progress by West Bengal govt in CCTV installation, construction of toilets	Supreme Court.	The Supreme Court on Monday calledÂ called the progress by West Bengal government in CCTV installation, construction of toilets and separate resting rooms as 'tardy'. The apex court was hearing the rapeÂ Â and murder case at RG Kar Hospital. Additionally, the court has ordered the Bengal government to complete ongoing work by October 15. Resuming hearing the suo motu case related to the rape and murder of a postgraduate medic at the RG Kar Medical College and Hospital in Kolkata, the top court inquired about the steps taken by the West Bengal government regarding the installation of CCTV cameras and the construction of toilets and separate resting rooms. The CJP said that the current focus is on rape and financial irregularities related to the RG Kar case. He assured that while the investigation is centered on this matter, other aspects will not be overlooked. The CJI mentioned the possibility of expanding the investigation if necessary, highlighting the existence of a broader nexus related to the alleged mafia discussed by the lawyer. The top court on September 17 had said it was disturbed by the findings given in a status report filed by the Central Bureau of Investigation (CBI) in the rape-murder case but refused to divulge the details, saying any disclosure may jeopardise the ongoing investigation.	2024-09-30 18:14	2024-09-30	18:14
moneycontrol.com	https://www.moneycontrol.com/elections/assembly-election/jammu-and-kashmir/srinagar-sees-surge-in-garland-sales-ahead-of-assembly-elections-article-12832726.html	Srinagar sees surge in garland sales ahead of assembly elections	With political parties ramping up their campaign activities, garlands have become a hot commodity.Related stories.	As Kashmir prepares for the third and final phase of assembly elections on October 1, garland sellers in Srinagar are experiencing a remarkable boom in business. With political parties ramping up their campaign activities, garlands have become a hot commodity, flying off the shelves in key markets such as Maharaja Bazar, Bohri Kadal, and Koker Bazar. Local vendors said that the demand for garlands has surged significantly since the election process began, marking a notable shift after a decade of political silence in Jammu and Kashmir. Prices for garlands vary widely, ranging from Rs 100 to Rs 1,000, with extravagant 'money garlands' priced as high as Rs 1 lakh. Feroz Sofi, a local dealer, said, "Since the election season kicked off, our garland business has seen a substantial uptick. We offer various patterns and prices for leaders and candidates. While garlands were primarily sold for weddings in the past, elections have dramatically increased our demand." Garlands, considered symbols of good fortune, are sourced from states like Rajasthan, Surat, and Delhi. Among the most popular varieties are the 'Moti Haar' and 'Mantri Haar,' which are currently in high demand. Sellers express their joy at the renewed political activity, which has revitalised their business. Tariq Ahmed, a shop owner in the bustling Maharaja Bazar, welcomed the change and said, "It's a positive step for us. Our livelihood is improving, and there's a sense of optimism in the market." "We provide a range of garlands, including Moti Haar and Mantri Haar, as well as bouquets. Mantri Haar is particularly popular right now, along with money garlands, which vary in price based on customer demand," Ahmed said. Political supporters are purchasing garlands in bulk, with traders from neighbouring districts flocking to Srinagar to meet the rising demand. The humble garland has become an essential element in this high-stakes election season. Aijaz Ahmed, another local garland seller, said, "During elections, business typically increases as supporters buy garlands and dry fruits for candidates. "The workload certainly increases, and we stock up as we do for festivals like Eid. While garlands are also sold during wedding seasons, elections provide a significant boost to our trade, especially since this is the first (assembly) election in 10 years." Out of the 40 assembly seats going to the polls in the third phase, 24 are located in Jammu region and 16 in north Kashmir. As the election day approaches, garland sellers in Srinagar are not only celebrating the revival of their business but also embracing the renewed political engagement in the region.	2024-09-30 18:12	2024-09-30	18:12
moneycontrol.com	https://www.moneycontrol.com/news/business/mumbai-property-registrations-down-16-yoy-in-september-amid-shradh-and-higher-home-prices-12832517.html	Mumbai property registrations down 16% YoY in September amid 'shradh' and higher home prices	Year-on-year registrations in September for Mumbai is down by 16%.Related stories.	Property registrations in Mumbai for September declined by 16 percent over the corresponding month in 2023, according to figures from the Maharashtra revenue department, accessed by Knight Frank. This trend was seen amid the inauspicious "shradh" month, in which many refrain from purchases such as property, coincided with a large part of the month. Some observers added that some investors retreating from purchasing real estate in a heated market may have also contributed to the slowdown in registrations. In 2023, the "shradh" period was observed from the end of September to October 14. As per figures at 5:30 pm today, a total of 9,005 properties were registered in Mumbai in September 2024, against 10,694 units in September 2023. The registration figures for the current month also represent a month-on-month decline, with 11,631 registrations reported in August, according to the data. The residential segment contributed 80 percent to the total registrations, according to Knight Frank. The contribution to the exchequer as a result of the registrations also reduced both annually and sequentially in September, with around Rs 872 crore collected in the form of stamp duty till 5:30 pm on September 30 as against Rs 1,127 crore in the same month last year, and Rs 1,062 crore in August 2024. According to a leading real estate broker in Mumbai, many would-be homebuyers, as well as those investing in real estate, have also taken a step back and deferred purchases, as home prices remain high in most suburbs of the city and affordability has shrunk. As per a report last week, published by Anarock,residential real estate prices across India have spiked by as much as 37 percentbetween the July-September quarter of 2022, to the same quarter in 2024. According to an analyst at a brokerage firm, a sense of "fatigue" has seeped into real estate purchases, besides the seasonality factor, as well as political and bureaucratic churn that often affect project launches and sales. The analyst added that with home prices rising across most markets, especially in Mumbai, and salaries for entry-level homebuyers not increasing by a significant level, homebuying sentiment may currently be at a low.	2024-09-30 18:05	2024-09-30	18:05
moneycontrol.com	https://www.moneycontrol.com/news/world/how-israels-deep-intelligence-penetrated-secret-bunkers-hiding-hezbollah-chief-nasrallah-12832499.html	How Israel's deep intelligence penetrated secret bunkers hiding Hezbollah chief Nasrallah	Since 1992, Nasrallah was at the helm of Hezbollah affairs but went underground following the 2006 Second Lebanon War..	Israel has changed the course of the long-raging conflict in the Middle East after assassinating Hezbollah chief Hassan Nasrallah in a bold airstrike last week. The intricate details ofIsrael's operation to eliminateone of Hezbollah's top leaders underscore the depth of Mossad's intelligence capabilities. According to a report in The Guardian,Israel's intelligence was so deepthat it already knew about the secret location where Nasrallah and other top Hezbollah leaders - also slain in the operation - would meet. Even on Friday, the Hezbollah chief held a meeting inside one of these bunkers but Israel knew about it in advance and usedUS-made bunker-bustersto eliminate him. The bunker was reportedly 60-feet underground. Earlier, French newspaper Le Parisien had reported that an Iranian mole had informed the Israelis about Nasrallah's movements. Israel apparently had kept its eye on the location of the secret meeting for some time, indicating that the planning was done days in advance. The commander of the 69th Squadron of F-15I jets involved in the operation, identified in Israeli media only as Lt. Col. M, said that aircrews prepared for "several days" leading up to the strike. However, they were informed of the specific target only a few hours prior to the mission. The strike, one of the most significant on an urban center in recent history, pierced through the bunker with nearly 80 tons of explosives, including around 85 specialized "bunker-buster" bombs. Elusive target Intelligence penetration was critical for Israel since Nasrallah was hardly ever seen in public and would spend most of his time in underground bunkers. Since 1992, Nasrallah was at the helm of Hezbollah affairs but went underground following the 2006 Second Lebanon War. The Times of Israel reported that Nasrallah, who used to travel extensively across Lebanon before 2006, started restricting himself to underground bunkers after several attempts on his life. In fact, Israel tried to kill the Hezbollah chief as many as three times during the war, sources told The Financial Times. During that war, Israel attempted to kill Nasrallah three times, according to sources cited by the Financial Times. Eyal Zisser of Tel Aviv Universityâ€™s Middle Eastern Studies Department told The Times of Israel that Nasrallah's life changed "dramatically" after 2006. As a result, he appeared in public barely four or five times in the last 22 years. The report further said that people who used to meet Nasrallah were often blindfolded or driven around Beirut to prevent his location from getting exposed. It was in late May when Nasrallah was seen recently. He visited his ailing mother in a Beirut hospital, the report said. Escalation of conflict Israeli strikes have not only killed Nasrallah but six of his other top commanders in the last 10 days. They have also hit what the military says are thousands of militant targets across large parts of Lebanon. Over 1,000 people have been killed in Lebanon, nearly a quarter of them women and children, according to the Health Ministry, and the government says the fighting may have displaced up to a million people. Hezbollah has significantly increased its rocket attacks in the past week to several hundred daily, but most have been intercepted or fallen in open areas. Several people have been wounded in Israel. There have been no fatalities since two soldiers were killed near the border on September 19. (With inputs from agencies)	2024-09-30 18:01	2024-09-30	18:01
moneycontrol.com	https://www.moneycontrol.com/news/trends/legal/karnataka-hc-orders-ola-to-pay-rs-5-lakh-compensation-in-sexual-harassment-case-involving-cab-driver-12832717.html	Karnataka HC orders OLA to pay Rs 5 lakh compensation in sexual harassment case involving cab driver	The petitioner, who was subjected to the harassment, had initially approached OLA with her complaint.Related stories.	The Karnataka High Court on Monday directed ANI Technologies, the parent company of OLA Cabs, to compensate a woman with Rs five lakh after she allegedly faced sexual harassment by one of their drivers during a trip in 2019. Justice M G S Kamal, presiding over a single-judge bench, also instructed OLA's Internal Complaints Committee (ICC) to initiate a proper inquiry in line with the Sexual Harassment of Women at Workplace (Prevention, Prohibition, and Redressal) Act, 2013 (POSH Act). The inquiry is to be concluded within 90 days, and a report must be submitted to the District Officer. Additionally, ANI Technologies has been ordered to pay Rs 50,000 to cover the petitionerâ€™s litigation expenses. The Court emphasised that all parties must comply with Section 16 of the POSH Act, ensuring confidentiality of the identities involved. The Court had reserved its order on August 20. The petitioner, who was subjected to the harassment, had initially approached OLA with her complaint, but the company's ICC, following advice from external legal counsel, declined to investigate, claiming it lacked jurisdiction. The woman then sought relief from the High Court, requesting a directive for OLA to examine her complaint and for the Ministry of Women and Child Development to ensure the company adheres to POSH guidelines. She also urged the state to implement protective regulations for women and children using taxi services. The Court has further directed the Karnataka State Road Safety Authority to expedite its proceedings regarding the notice issued to ANI Technologies, with a deadline of 90 days for completion. The state government has been ordered to pay a penalty of Rs one lakh for failing to respond adequately to the petition. During the proceedings, the petitionerâ€™s counsel argued that OLA functions as a transport company, not merely a platform, and should bear responsibility for its driversâ€™ actions. The counsel for OLA, however, contended that the drivers are independent contractors, and not employees, and the company should not be held liable under labour laws.	2024-09-30 17:54	2024-09-30	17:54
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/baazar-style-retail-shares-zoom-nearly-10-as-company-opens-two-new-stores-in-west-bengal-12832650.html	Baazar Style Retail shares zoom nearly 10% as company opens two new stores in West Bengal	Bazaar Style Retail is one of the leading players in the value retail market in West Bengal and Odisha..Related stories.	Baazar Style Retail share price advanced nearly 10 percent in September 30 trade after the company announced opening of two new stores. The stock touched an intraday high of Rs 385 per share on the NSE, rising 9.69 percent from its previous close.Baazar Style Retailstock gained after three days of consecutive fall. The company's announcement to open two new stores at Ramrajatala, West Bengal and another at Metro Cinema Hall in Kolkata,Â West Bengal led to the sharp uptrend in the share price of the company. With this, the total number of stores as on date stands at 184,Â the company said. Rekha Rakesh Jhunjhunwala-backed Baazar Style Retail Ltd made aÂ flatÂ debut on Dalal Street this September, with its shares listing at Rs 389 on both NSE and BSE. Baazar Style Retail is a key player in the value retail sector, with a strong presence in West Bengal and Odisha. The company also has significant operations in Assam, Bihar, Jharkhand, Andhra Pradesh, Tripura, Uttar Pradesh, and Chhattisgarh. On September 25, the company reported a standalone loss of Rs 39 lakh for the quarter ended June 30, 2024, compared to a profit of Rs 5.5 crore in the same period last year. However, the loss has reduced from Rs 6.5 crore in the March quarter. Meanwhile, standalone revenue from operations grew 21 percent to Rs 276 crore in Q1FY25, up from Rs 228 crore in Q1FY24.	2024-09-30 17:48	2024-09-30	17:48
moneycontrol.com	https://www.moneycontrol.com/news/business/markets/mixed-september-auto-sales-elevated-discounts-12832695.html	Analysts predict mixed September auto sales, elevated festive season discounts	As for passenger vehicles, Motilal Oswal suggests that retailÂ sales are expected to decline by 8-10 percent year-on-year (YoY) as the conversion of inquiries into bookings is taking longer than anticipated across regions..Related stories.	As auto companies prepare to announce their wholesale figures on October 1 and 2, analysts forecast mixed volumes, with the festive season expected to boost wholesale numbers. Analysts also observe an improving sentiment in rural areas, bolstered by monsoon rains that have been six percent above normal. International brokerage UBS suggested that the impact of the early festive period this time coupled with the inauspicious period â€“ â€˜Shradh Pakshaâ€™ from September 17â€“October 2 will likely be reflected in September. However, UBS has retained its 'buy rating onTVS MotorandEicher Motors, while maintaining a sell' onHero MotoCorpandBajaj Auto. The brokerage highlighted significant discounting in the two-wheeler segment on e-commerce platforms, a trend expected to persist through the festive season. However, overall sentiments remain favourable, driven by a sustained recovery among first-time buyers, especially in rural areas, says Yes Securities. While urban demand remains strong, rural demand in regions like the west, central, and south has been outpacing urban for the past 5-6 months. The Ganesh festival sales saw a 5-7 percent growth across both urban and rural markets, and festive-to-festive growth is expected to hit 14-15 percent, despite a high base. Domestic 2W wholesales are anticipated to register a 7-12 percent YoY growth across major OEMs, except Eicher Motor's Royal Enfield (RE), where a 3 percent YoY decline is expected. As for passenger vehicles, Motilal Oswal suggests that retail sales are expected to decline by 8-10 percent year-on-year (YoY) as the conversion of inquiries into bookings is taking longer than anticipated across regions. Discounts for Maruti Suzuki have moderated by 5-10 percent month-on-month (MoM) in September 2024, depending on the variant. Meanwhile, Tata Motors has introduced price cuts across its vehicle range, excluding the Punch. The price reductions range from Rs 10,000-80,000 for the Nexon, Rs 15,000-30,000 for the Tigor, Rs 15,000-60,000 for the Tiago, and Rs 50,000-180,000 for the Safari and Harrier. In the commercial vehicle (CV) segment, both medium and heavy commercial vehicles (MHCVs) and light commercial vehicles (LCVs) are estimated to see a 10-12 percent YoY decline in retail sales, primarily due to seasonal monsoon effects. A delay in government tendering processes is also contributing to postponed purchases by fleet operators, especially for tippers. Yes Securities expects tractor sales to grow by 8-10 percent year-on-year (YoY), partly due to a low base, though sentiments remain weak with signs of gradual improvement. The rain deficit in northern states like Bihar, Haryana, Punjab, and the North East has further weighed on demand, while most of central and northern India have received normal rainfall, and western and southern states have seen excess rains. Tractor volumes are expected to pick up in October-November, driven by festive demand and sowing activity for key crops such as paddy, oilseeds, pulses, and sugarcane, the brokerage said. "Additionally, the Jharkhand state government has announced a 50 percent subsidy on approximately 4,000 units in September 2024. Despite a high base, we anticipate 5-8 percent growth in dispatches for Mahindra & Mahindra and Escorts,"Â Yes Securities added. The Nifty Auto index closed 27,027, lower by over 2 percent after major names such as Bajaj Auto,Tata Motors,M&M, and Hero MotoCorp tumbled in today's session.	2024-09-30 17:44	2024-09-30	17:44
moneycontrol.com	https://www.moneycontrol.com/news/business/ipo/swiggy-hyundai-india-acme-solar-vishal-mega-mart-mamata-machinery-ipos-get-sebi-approval-12832670.html	Swiggy, Hyundai India, Acme Solar, Vishal Mega Mart, Mamata Machinery IPOs get SEBI approval	Hyundai Motor India, Swiggy IPOs.Related stories.	Swiggy, Hyundai Motor India, Acme Solar Holdings, Vishal Mega Mart, and Mamata MachineryÂ got approval from the capital markets regulator SEBI to go ahead with their IPO plans. The regulator issued observation letter to Swiggy, and Hyundai Motor India on September 24, and Vishal Mega Mart on September 25, while Acme Solar Holdings, and Mamata Machinery receivedÂ the observation letter on September 27. In SEBI parlance, the issuance of observation letter on the draft papers means the company can launch its initial public offering within the next one year from the receipt of letter. Prosus and SoftBank-backed Swiggy, the second largest food delivery giant in India, had filed confidential papers with the regulator for an initial public offering (IPO) in April this year. Further, it has filed its updated draft red herring prospectus with the regulator on September 26 for its IPO which is a mix of fresh issue of equity shares worth up to Rs 3,750 crore, and an offer-for-sale of 18.52 crore equity shares by the existing shareholders. Accel India, Apoletto Asia, Alpha Wave Ventures, Coatue PE Asia, DST EuroAsia, Elevation Capital, Inspired Elite Investments, MIH India Food Holdings, Norwest Venture Partners, and Tencent Cloud Europe will be the selling shareholders in the offer-for-sale. The food tech giant may raise Rs 750 crore via private placement before the launch of its initial public offering. It will reduce the fresh issue size to the extent of the said amount if the pre-IPO placement is undertaken. Prosus (32 percent), SoftBank (8 percent), Accel (6 percent) are key investors in Swiggy, apart from Elevation Capital, DST EuroAsia, Norwest Venture, Tencent Cloud, INQ Holding, OFI Global China, Coatue PE Asia, and Inspired Elite. This will be the second food delivery company available for trading on the bourses if it lists, after Zomato. Kotak Mahindra Capital Company, Citigroup Global Markets India, Jefferies India, Avendus Capital, JP Morgan India, BofA Securities India, and ICICI Securities are acting as the book running lead managers to the issue. (More to Come...)	2024-09-30 17:41	2024-09-30	17:41
moneycontrol.com	https://www.moneycontrol.com/news/business/economy/nature-of-manufacturing-employment-witnessing-a-shift-mc-analysis-12832678.html	Nature of manufacturing employment witnessing a shift: MC Analysis	Employment shift from traditional jobs.Related stories.	Equipment manufacturing and machinery repair are fast becoming Indiaâ€™s major employers, with the focus shifting away from traditional industries, according to a Moneycontrol analysis. While the post-pandemic period witnessed the fastest increase in manufacturing employment over the last decade, the nature of employment also shifted during this period. The government announced the Production Linked Incentive scheme in 2020. Analysis of RBI data shows that half of the 6 million jobs generated between 2020-21 and 2022-23 came from electrical and optical equipmentâ€”this includes smartphonesâ€”basic metals and fabricated metal products, and other manufacturing, repair, and installation industries. This also correlates with industry-level GDP estimates. While manufacturing output from the corporate sector increased 30 percent between 2020-21 and 2022-23, electronic and optical industry jumped 67 percent. Computer and peripheral equipment was up 95 percent during this period. Repair and machinery installation was up 257 percent. Traditional or employment-heavy industries still account for 40 percent of job creation, but their share is reducing. In 2022-23, 40 percent of people employed across manufacturing sector were in food processing and textiles, the ratio was 44 percent a decade ago and 49 percent in 2004-05. In contrast, the share of transport and electrical equipment in manufacturing jobs went up from 4.4 percent in 2004-05 to 10.1 percent in 2022-23. Other manufacturing now accounts for 12.7 percent share of employment compared with 8.9 percent in 2004-05.	2024-09-30 17:40	2024-09-30	17:40
moneycontrol.com	https://www.moneycontrol.com/news/india/karnataka-hc-halts-probe-against-fm-nirmala-sitharaman-others-in-electoral-bonds-case-12832633.html	Karnataka HC halts probe against FM Nirmala Sitharaman, others in electoral bonds case	Finance minister Nirmala Sitharaman.	Karnataka high court on Monday stayed the probe against Union finance minister Nirmala Sitharaman and several others in connection with the electoral bonds scheme. A single judge bench of Justice M Nagaprasanna passed the order on a plea filed by BJP leader Nalin Kumar Kateel. "Section 383 mandates any informant should have been put into fear. It is only then extortion can be established. Criminal law can be set into motion by any person. But in cases of 384, it can be set into motion only by the aggrieved ... Who is the complainant here becomes significant ... In this case, permitting further proceedings atleast until the objections have been filed will become an abuse of the process of law. Therefore, further proceedings are stayed until the next date," the court said, according to Bar & Bench. On Saturday, a case was registered against Sitharaman and others on the directions of a lower court in Karnataka, following a complaint relating to the now-scrapped electoral bonds scheme. The FIR accused the finance minister of extortion and allied offences. According to police, an FIR was registered under IPC sections 384 (punishment for extortion), 120B (criminal conspiracy) and 34 (acts done by several persons in furtherance of common intention) against Sitharaman, ED officials, office-bearers of the BJP at state and national level, based on the order of a special court. BJP Karnataka chief B Y Vijayendra, party leader Nalin Kumar Kateel have also been named in the FIR. The complaint was lodged by Adarsh R Iyer, Co-President of 'Janaadhikaara Sangharsha Parishath' (JSP) alleging that the accused "committed extortion under the guise and garb of electoral bonds and benefitted to the tune of 8,000 and more crore of rupees." The complainant further alleged that Sitharaman through the clandestine aid and support of ED officials facilitated extortion of thousands of crores of rupees for the benefit of others both at the state and national levels. "The entire extortion racket under the garb of electoral bonds has been orchestrated hand in glove with officials of BJP at various levels." The Supreme Court in February had struck down the electoral bond scheme, saying it violates the right to information and the freedom of speech and expression under the Constitution. (With inputs from PTI)	2024-09-30 17:36	2024-09-30	17:36