AVP Financial News

Defence Research and Development Organisation (DRDO) successfully conducted a flight trial of its long-range hypersonic missile on November 16, 2024, from Dr APJ Abdul Kalam Island, off-the-coast of Odisha. This hypersonic missile is designed to carry various payloads for ranges greater than 1500km for all the Services of the Indian Armed Forces. The missile was tracked by various range systems, deployed in multiple domains. The flight data obtained from down-range ship stations confirmed the successful terminal manoeuvres and impact with a high degree of accuracy.

Rahul Gandhi compared Prime Minister to US President Joe Biden on Saturday, saying both have 'memory' challenges. «My sister was telling me that she heard Modi ji's speech where he has been speaking the same thing that we have been speaking all along. I don't know, maybe he has memory loss. Like the former US President of America (Biden) used to say something here and there. He had to be reminded from behind that you should not be speaking this, you need to be speaking this,» said Gandhi. He added, " There the Ukraine President had come (to visit Biden in the US) and the US President spoke of the Russian President Putin had come, then people from behind had to tell him that it was the Ukraine President who had arrived, he (Biden) had a memory loss. Similarly our Prime Minister is suffering from memory loss. I don't know he might even come and claim that the state government is giving you Rs 7,000 per quintal on Soybean," said Rahul Gandhi while addressing a campaign rally in Amravati.

Latur Lok Sabha constituency, is witnessing conflict between Congress dynasts, with caste and sugar factories playing a big role. This has long been a bastion of the Congress, and the party leaders are placing their hopes on the popularity of late Chief Minister Vilasrao Deshmukh. Amit Deshmukh, one of his sons, is running against Archana Patil-Chakurkar, the daughter-in-law of Shivraj Patil-Chakurkar, a former Union Home Minister and Speaker of the Lok Sabha. Patil, a veteran Congress leader is politically inactive but his face is seen on posters of both BJP and Congress candidates.

National Conference President Farooq Abdullah has reaffirmed his commitment to restoring statehood to Jammu and Kashmir, expressing confidence that it will be achieved. «How many days have passed since the new government was formed? How many weeks? Will the statehood come from the sky? I have no doubt that we will get the statehood,» Abdullah told reporters. The state was bifurcated into two Union Territories following the abrogation of Article 370 in 2019. Political parties in the state have been demanding early restoration of statehood.

Ministry of External Affairs (MEA) announced on Saturday that Shri Anurag Srivastava, an officer of the Indian Foreign Service (IFS) from the 1999 batch, has been appointed as the next High Commissioner of India to the Republic of Mauritius. Currently serving as Joint Secretary in the Ministry, Srivastava is expected to assume the role shortly. The appointment underscores the importance India places on its longstanding ties with Mauritius. Mauritius, a key partner in the Western Indian Ocean region, shares deep historical, cultural, and demographic links with India.

Maharashtra Assembly Elections, Central Railway will run special suburban trains on November 19-20, and November 20-21, to facilitate the movement of election personnel and the public. According to an official release, these trains will operate on the Main Line (CSMT-Kalyan) and Harbour Line (CSMT-Panvel). CSMT-Kalyan special, CSMT to Panvel Special and Panvel to CSMT Special trains will run on November 19-20

Commonwealth of Nations. According to Marie Claire, in spite of many individuals believing that she genuinely deserved a Nobel Peace Prize for her diplomatic efforts, it was eventually revealed that she declined such nominations. Marie Claire reported that a senior courtier indicated that Buckingham Palace was approached multiple times by Commonwealth leaders for guidance on nominating her, but eventually they were politely told that the Queen did not wish to be considered for the honor. Also Read: Will Jan 6 Capitol rioters be pardoned under Donald Trump’s Presidency?

Argentina's Lionel Messi and Brazil's Vinicius Junior had frustrating nights in South American World Cup qualifying. While Messi could not help his team avoid a 2-1 defeat at Paraguay, Vinicius Junior missed a second-half penalty as Brazil was held to a 1-1 draw at Venezuela on Thursday. Argentina will remain on the top of the 10-team round robin competition with a 22 points in 11 matches, Brazil is provisionally in third place in the standings with 17 points. Also on Thursday, Ecuador beat Bolivia 4-0. The Ecuadorians remain in fifth position with 16 points, while Bolivia is in eighth place with 12 points.

Rising electricity demand and ambitious targets for renewable energy capacity expansion, over the next few years led to fund managers buying stocks like NHPC, KEI, Inox Wind Energy and IEX. With government spending likely to resume in the second-half of the fi nancial year, some fund managers bought into cement stocks like Ramco Cement and Ambuja Cement.

November 2024 bank holidays: Banks will be closed for 13 days in November; state-wise bank holiday list

Murugappa Group has signed a deal to acquire German specialty chemicals firm Hubergroup for an enterprise value of $310 million, a move that will help it expand in the global print and packaging sector. The acquisition was finalised this week and will see Murugappa, along with investment firm Avenue Capital Group, take full ownership of Hubergroup from Cornelius Treuhand Holding, pending regulatory approval. The transaction includes $160 million to refinance Hubergroup's debt and a $150-million equity infusion from Murugappa besides working capital, according to sources familiar with the matter.

Happiest Minds Technologies reported a 15.3% year-on-year (YoY) fall in net profit at Rs 49.5 crore for the September quarter (from Rs 58.5 crore a year ago) dented by higher investment costs during the quarter. Sequentially, the profit fell 3% from the first quarter’s Rs 51 crore profit. Revenue for the second quarter jumped 28.3% YoY and 12.5% quarter-on-quarter (QoQ) to Rs 521.64 crore. The drop in profit was primarily due to salary increments for most of its employees rolled out from July 1, impacting 2.30% of its profitability, the addition investments towards its new sales team and into its GenAI business.

goods and services tax (GST) registered taxpayer and want to claim any pending input tax credit (ITC) for FY 2023-24 or amend any errors or omissions under GST then note the last date to do so is November 30, 2024, by filing a specified GST form. If you miss this opportunity, then you may lose out on claiming input tax credit (ITC) if any remains to be claimed for FY 2023-24. Needless to say, if you do not get the benefit of claiming input tax credit then it will result in loss as you can't offset your output tax liability with input tax credit.

Swiggy listed at Rs 421, an 8% premium over its issue price of Rs 390 on Wednesday, becoming the latest new-age company to debut on public markets. The stock closed at Rs 455.95 on the NSE,reaching Rs 464 during the day’s session. The past three years have seen significant IPOs from tech companies, the latest being Ola Electric, FirstCry, and Awfis. Here's a snapshot of notable new-age market debuts and Day 1 gains:

Peel Regional Police issued a statement on Tuesday clarifying that they have not received any direct threats against places of worship in the Region of Peel, amid rising tensions and concerns across the country. The police department's reassurance comes amid heightened tensions, prompting an increased police presence around places of worship. «Peel Regional Police is aware of community concerns, particularly at places of worship, regarding demonstrations and perceived threats. Peel Regional Police wish to clarify that we have not received any direct threats against any place of worship in the Region of Peel,» the Peel Regional Police said in their statment.

Nykaa, on Tuesday reported a 24% year-on-year increase in operating revenue for the second quarter at Rs 1,875 crore. Consolidated net profit for the Mumbai-based company rose 66% to Rs 13 crore in the quarter ended September 30. Gross merchandise value (GMV) rose 24% to Rs 3,652 crore. Within this, the beauty vertical posted a 29% increase in GMV to Rs 2,783 crore, driven by a 31% rise in new customer acquisition.

Enforcement Directorate (ED) on Tuesday launched raids across 17 locations in poll-bound Jharkhand and West Bengal as part of its money laundering probe into alleged illegal infiltration of Bangladeshi nationals. The federal agency had, in September, registered a case, under relevant provisions of Prevention of Money Laundering Act (PMLA) to probe alleged illicit funds generated through infiltration of the trafficking of Bangladeshi nationals, including women, into Jharkhand. The ED's (ECIR), Enforcement case information report, equivalent to an FIR, is based on an earlier FIR registered by the Jharkhand Police in June.

Jake Paul will fight against Mike Tyson in the much awaited event which is set to be live streamed on Netflix this week. The fight between Paul and Tyson will be taking place on Friday, November 15. The fight was earlier scheduled to take place on July 20. «Jake Paul vs. Mike Tyson» was postponed in May after Tyson became nauseous and dizzy on a flight from Los Angeles in May. His representatives said it was due to an ulcer. Tyson, who is regarded as one of the greatest heavyweight boxers ever, is now 58 years old and Paul is 27. Netflix has released a documentary titled as «Countdown: Paul vs. Tyson». The fight will take place at AT&T Stadium in Arlington, Texas.

MTNL has defaulted on a total payment of Rs 5,726.29 crore, comprising a principal amount of Rs 5,492 crore raised from various banks and an interest of Rs 234.28 crore, the company said in a regulatory filing. The company shared that its total financial debt now stands at Rs 32,097.28 crore — 40 times more than its consolidated annual income of Rs 798 crore. Union Telecom Minister Jyotiraditya Scindia on Tuesday told reporters that there is no insecurity about the debt raised by MTNL as it is backed by a sovereign guarantee and the company's business will be transferred to BSNL.

Mamata Banerjee on Tuesday announced that the state government will reconstitute the 16 development boards under the Gorkhaland Territorial Administration (GTA) within the next one-and-half-month and will form of a special monitoring cell to screen the functioning of the various boards in the hills. The decision was taken after a meeting convened by the Chief Minister with the Gorkhaland Territorial Administration (GTA) officials, including the GTA chief executive Anit Thapa. “The development boards in the hills will be reorganized within the next couple of months for the purpose of smooth functioning. Anit Thapa will be chairman of the monitoring cell. District Magistrates of Darjeeling and Kurseong will be part of the team,” Chief Minister told the media after the meeting.

The two sides had started coordinated patrols in the first week of the month after completing disengagement in both Demchok and Depsang in the last week of October. The two sides have agreed to carry out one patrol each by both sides every week in Depsang and Demchok. In each area, one patrol would be carried out by Indian troops and one patrol would be done by the Chinese troops, defence sources told ANI.