Experts Financial News

Lumax Auto Technologies on Saturday said it has inked a pact to acquire a majority stake in Greenfuel Energy Solutions from its existing shareholders for an undisclosed amount. The proposed acquisition will enable the company to enter into the green and alternate fuels segment which is expected to witness strong and accelerated growth in the coming years, Lumax Auto said in a statement. Greenfuel is a supplier of high-pressure fuel delivery and storage systems primarily for CNG and hydrogen automobiles.

Arunangshu Sarkar to the Oil and Natural Gas Corp board as the company’s first director (strategy and corporate affairs). The Appointments Committee of the Cabinet (ACC) has approved the oil ministry’s proposal to appoint Sarkar, group general manager (production) at ONGC to the board, the oil ministry said in a communication to the company on Saturday. He will stay in this position until his retirement. Nearly two years ago, while appointing Arun Singh, a retired BPCL chairman, as the new CEO of ONGC the government decided to restructure the ONGC board to revitalize the organization. The posts of director (offshore) and director (onshore) were abolished and replaced by two new positions of director (production) and director (strategy and corporate affairs) on the board.

Madhya Pradesh Chief Minister Mohan Yadav has stated that efforts are being made to preserve the sanctity and blessings of the Narmada River, with plans to ban liquor and meat shops in religious towns across the state. Speaking to on Saturday, CM Yadav said, «By bringing together all state government departments, we have made an effort to maintain the sanctity and blessings of Maa Narmada. We will aim to ban meat and liquor shops in religious towns. I hope the decisions taken will be reviewed in November. This is not a one-day process; it is an ongoing one.» Meanwhile, the Congress party has welcomed the government's decision, calling it a sacred initiative.

Haryana BJP Kisan Morcha president Sukhvinder Mandi joined the Congress party on Saturday as the state moves closer to the October 5 Assembly polls. Mandi, a former MLA from the Badhra assembly segment, joined the Congress in the presence of party leader Bhupinder Singh Hooda and Haryana Congress chief Udai Bhan. Mandi was hoping to get a ticket from Badhra but the BJP denied him. Mandi was welcomed into the Congress fold by Hooda and Bhan, a party statement said.

FPIs) bought Indian equities at a net worth over Rs 16,800 crore this week, taking the overall September tally to Rs 27,856 crore. The total investments by them now stand at Rs 70,737 crore, so far in 2024. In August, FPIs bought domestic shares worth Rs 7,322 crore which was down month-on-month from July when the total purchase stood at Rs 32,359 crore. While in June, they were net buyers at Rs 26,565 crore after remaining net sellers in April and May when they sold equities worth Rs 8,671 crore and Rs 25,586 crore respectively.

Nifty has closed at a fresh weekly closing high. The trading range too got wider; the index oscillated in a 680.20-point trading range. Volatility too plummeted significantly; the India VIX came off 17.53% to 12.55. While setting a distinctly contrast undertone as compared to the week before, the headline index posted weekly gains of 504.35 points (+2.03%). As we step into the fresh week, the undercurrent evidently remains strong. However, even with the buoyant trend and with the markets showing no signs of a letup, it is time that we follow this trend from now on with the utmost amount of caution.

Three interest rate cuts in, the Bank of Canada is now firmly entrenched in an easing cycle that has major implications for where Canadians’ money can earn them the best returns.

Uttar Pradesh and neighboring regions has moved north-northeastwards and weakened into a well-marked low pressure area. This low pressure system is currently situated over northwest Uttar Pradesh and its surrounding areas. It is expected to weaken further into a low pressure area. The IMD has issued rainfall alerts for many states including Himachal Pradesh, Haryana and Delhi.

grey market premium (GMP) on Kross' shares have reduced by half to Rs 24 from Rs 50 ahead of the listing of the stock on September 16, Monday. This is a 10% premium over the issue price of Rs 240 per share. The three-day initial public offering (IPO) which ended on September 11 got a strong response from all categories of investors though qualified institutional buyers (QIBs) hold the edge.

HSBC initiated coverage on Krishna Institute of Medical Sciences (KIMS) with a 'buy' rating while assigning 'reduce' rating to Global Health (Medanta) and Narayana Hrudayalaya. The brokerage has a 'buy' rating on Apollo Hospitals and Aster Healthcare. «We retain our positive view on the growth outlook for the hospital sector on intact structural drivers: An ageing population, more lifestyle related disorders, increasing healthcare insurance coverage, rising income levels, and better paying ability,» said the analysts at the brokerage.

early retirement goal.

V-Sciences Investments, an arm of Temasek Holdings, on Friday divested a 1.4 per cent stake in Godrej Agrovet for more than Rs 212 crore through an open market transaction. Temasek Holdings is a state-owned multinational investment firm in Singapore. As of March 31, 2024, the investment company held an SGD 389 billion of portfolio value. According to the bulk deal data available on the National Stock Exchange (NSE), V-Sciences Investments offloaded 27.10 lakh shares, or 1.41 per cent stake, in Godrej Agrovet.

ICICI Securities has approached the National Company Law Appellate Tribunal (NCLAT) challenging the National Company Law Tribunal's order approving the company's delisting application from the stock exchanges. On August 21, the NCLT's Mumbai bench dismissed two objections to the delisting scheme and allowed delisting. On Friday, Bengaluru-based investment manager Manu Rishi Guptha filed an appeal in the NCLAT, New Delhi. In an exchange filing, the ICICI Bank said it received an intimation from NCLAT on Friday that one shareholder of ICICI Securities holding 13, 050 shares of ICICI Securities has e-filed an appeal before NCLAT against the order of NCLT dismissing their application. Guptha and a few investors are opposing the terms of the proposed delisting of ICICI Sec.

foreign exchange reserves scaled a new high of $689.235 billion at the end of September 6, the Reserve Bank of India data showed. Forex reserves rose $5.248 billion in the week ending September 6, making it the fourth consecutive weekly rise backed by healthy dollar inflows. In the past four weeks, reserves rose by $19.2 billion.

Kishtwar (Jammu and Kashmir): Two army soldiers were killed in a gunbattle with terrorists in Jammu and Kashmir's Kishtwar district. The White Knight Corps confirmed the news on X, along with pictures of the soldiers. "#GOC White Knight Corps and all ranks salute the supreme sacrifice of the #Bravehearts; offer deepest condolences to the families," the White Knight Corps wrote on X.

Friday the 13th is widely known as an unlucky day in Western cultures. This superstition has existed for centuries and involves a combination of beliefs about the number 13 and the day Friday. Despite unclear origins, this idea persists today.

maritime tradition. Here's why this process has remained unchanged in modern aviation.

Tua Tagovailoa, appear to concur that the Miami Dolphins' top priority following Thursday night will be taking good care of the quarterback's health, given that the 26-year-old recently suffered his third recorded concussion in the previous two years. Medical professionals and a number of former NFL players who haven't wasted any time in pushing Tagovailoa to end his career agree that retirement is likely on the cards. Tagovailoa has previously considered retiring; after sustaining at least two head injuries in the 2022 season, he acknowledged as much. He decided not to retire, using his spirit of competition and subsequent return to land a lucrative contract extension this summer. Also Read: Being a new dad has changed Justin Bieber? He wants to make peace with ex-girlfriend Selena Gomez

September historically hasn't been kind to stock investors.

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BNP Paribas (the bank) for certain deficiencies in statutory and regulatory compliance. The central bank has also imposed penalties on Hewlett Packard Financial Services (India), SMFG India Credit Company, and Muthoot Vehicle & Asset Finance for non-compliance with certain norms. In a statement, the RBI said the penalty has been imposed on the bank for non-compliance with certain directions issued by it on 'Interest Rate on Advances'. Giving details, it said the statutory inspection for Supervisory Evaluation of the bank was conducted by it with reference to its financial position as of March 31, 2023.