PAM Financial News

consumer demand recovery that began in October is raising expectations for a stronger second half of FY25, according to Systematix Institutional Equities report. While rural demand witnessed a slight uptick, urban consumption has remained largely unchanged, contributing to lower growth in 2QFY25. The demand trends for the quarter reflected a subdued market, much like the previous quarter, and were further impacted by seasonal factors like the monsoons and religious observances such as 'Shravan' and 'Shraadh.'

AAP MP Sanjay Singh on Friday accused Prime Minister Narendra Modi of favouring Gautam Adand alleged that he was responsible for major losses in the stock market. «The entire nation is in turmoil today. Nearly Rs 5.5 lakh crore of people's wealth has been wiped out in the stock market because of the fraud committed by Prime Minister Modi's friend, Adani,» Singh said. He recalled the Hindenburg report incident, stating that a similar crash had occurred then, but the Prime Minister remained silent. «Modi, who comments on minor thefts like a buffalo or mangalsutra being stolen, is quiet when lakhs of crores of public money disappear,» he added.

It outpaced competitors like the Tata Nexon (1,593 units), Mahindra XUV400 (602) and Tata Curvv (1,542 units), with 3,116 units sold. This innovative model separates the vehicle cost from the battery price, allowing buyers to pay battery EMIs based on usage, set at ₹3.5 per km.

BJD which was in power in Odisha from 2000 till June 2024, on Friday, said the allegations that state government officials took bribes from the Adani Group for supply of renewable energy to the state from the central pool, are «false and not based on fact.» Adani, India's second-richest man, and seven others, including his nephew Sagar Adani, have been charged by the US Department of Justice with paying bribes to unidentified government officials of several states including Odisha to buy expensive solar power, potentially earning more than USD 2 billion in profit over 20 years. Adani Group, however, denied the charges saying the allegations by US prosecutors are «baseless» and the conglomerate is «compliant with all laws» Former Odisha Energy minister and BJD MLA PK Deb said, «The types of allegations made in the name of Odisha are baseless and not based on facts.»

Vodafone Idea have slumped by around 65% from its 52-week high of Rs 19.15 on BSE. The stock had fallen 3.4% on Thursday after the Supreme Court of India granted telecom companies the right to claim credit for duties paid on parts such as tower components and green shelters. This decision overturns a previous judgment by the Bombay High Court, which had classified these items as non-capital goods, thereby denying the companies cenvat credit for the duties paid.

India's electronic production has more than doubled in the last six years to $115 billion in 2024, led by growth in mobile manufacturing by global firms such as Apple and Samsung. It is now the world's fourth-largest smart phone supplier. But the sector faces criticism for its heavy reliance on imported components from countries such as China.

Infrastructure company PNC Infratech on Friday said it has received approval from NHAI to transfer a 100 per cent stake held by it in its three subsidiaries (SPVs) for Uttar Pradesh road projects to Highways Infrastructure Trust. The company, in a regulatory filing, said the three highway projects are a part of the statutory process pursuant to the Rs 9,005 crore deal between PNC Infratech, PNC Infra Holdings (a subsidiary of PNC Infratech), and Highways Infrastructure Trust (HIT), an InvIT controlled by KKR & Co Inc, for 12 road assets. The three subsidiaries/SPVs, which got approval from the National Highways Authority of India (NHAI), are PNC Bithur Kanpur Highways Private Ltd, PNC Gomti Highways Private Ltd and PNC Aligarh Highways Private Ltd. The deal, signed in January 2024, involves the divestment of twelve road assets owned by PNC Infratech and PNC Infra Holdings for an enterprise value of Rs 9,005 crore.

Sameer Wankhede, former zonal director of the Narcotics Control Bureau (NCB), has urged the Bombay High Court to transfer the probe into an atrocities case against NCP leader Nawab Malik to an independent agency like the CBI. Wankhede, an additional commissioner in the Directorate General of Taxpayer Services and a member of the Mahar Scheduled Caste, alleged in his plea that police inaction in the matter has caused him and his family significant mental distress and humiliation. The Indian Revenue Services (IRS) officer had in August 2022 lodged a complaint with the suburban Goregaon police against Malik under the Scheduled Castes and Scheduled Tribes (Prevention of Atrocities) Act. The complaint alleged that Malik had during interviews and on social media made defamatory remarks against Wankhede and his family members based on his caste.

However, the current economic climate has made finding such jobs difficult, leading students, particularly from Telangana and Andhra Pradesh, to seek work within the Indian community. Babysitting is seen as a safe and viable option, with students earning between $13 and $18 per hour. Some employers also provide meals, accommodation, or both.

Andhra Pradesh BJP president D Purandeswari on Friday said the allegations emanating from the US against the Adani Group raises serious questions and claimed that all those linked to these allegations are associated with the Congress party. Business tycoon and Adani Group chairman Gautam Adani has been charged by US prosecutors over his role in an alleged years-long scheme to pay USD 250 million bribe to Indian officials in exchange for favourable terms for solar power contracts, an allegation refuted by the Indian conglomerate. «Recent allegations from the U.S. SEC (Securities and Exchange Commission) against the Adani Group have raised serious questions… this situation poses a significant question for Rahul Gandhi, since all individuals linked to these corruption allegations are associated with the Congress party and none are from the BJP,» said Purandeswari in a post on X.

The government reviews interest rates of small savings schemes quarterly. The Ministry of Finance said in a press release dated September 30, 2024, “The rates of interest on various Small Savings Schemes for the third quarter of FY 2024-25 starting from 1st October 2024 and ending on 31st December 2024 shall remain unchanged from those notified for the second quarter of FY 2024-25." Earn FD interest rates up to 8.25%: 3 banks that have revised FD rates in November 2024

IIT Kharagpur has partnered with z21 Ventures, an early-stage, operator-led venture capital firm founded by IIT Kharagpur alumni to launch a startup accelerator program tailored for final-year students. The total investment by z21 ventures in this partnership, which aims to foster innovation and entrepreneurship, will be Rs 2.5 crore, Rs 25 lakh initial investment per team, the institute said in a statement on Friday. Designed to harness the talent at KGP and transform ideas into market-ready ventures, the accelerator will offer participants access to mentorship, funding, and resources, empowering student entrepreneurs to create impactful products.

Supreme Court on Friday sought response from the Gujarat government on a plea filed by jailed self-styled godman Asaram seeking suspension of the life sentence imposed on him by a trial court in a 2013 rape case. A bench of Justices M M Sundresh and Aravind Kumar told the counsel appearing for Asaram that it would examine the issue only if there are medical grounds. «We will issue notice, but we will consider only on medical conditions,» the bench said while posting the matter for hearing on December 13. The Gujarat High Court on August 29 had rejected Asaram's plea for the suspension of life imprisonment in the case by a Gandhinagar court in 2023.

Supreme Court on Friday sought the response of the Gyanvapi Masjid Committee on an application filed by some Hindu worshippers seeking an Archaeological Survey of India (ASI) survey of the sealed area of the mosque, where a "Shivlinga" was claimed to have been found in Varanasi. A bench of Justices Surya Kant and Ujjal Bhuyan issued notice to the Committee of Management Anjuman Intezamia Masjid, which manages the mosque in the Gyanvapi complex and others on the application filed by some worshippers. The bench posted for hearing the matter on December 17. The bench said it will also hear same-day other petitions relating to the case, including an application to consolidate all suits and transfer them from the Varanasi district court to the Allahabad High Court.

Bitcoin, Ethereum, and Solana are go-to cryptos. However, that’s not where multifold gains are made; not at this point. Their large market caps limit their growth potential. New cryptos backed by substantial projects have a history of stealing the spotlight in bull markets. Which altcoins will take off in early 2025? Here are three top picks, based on presale activity.

BSE Odisha) has officially announced the results of the Odisha Teacher Eligibility Test (OTET) 2024 on November 22, 2024. Candidates who appeared for the exam can now access and download their marks through the official website, bseodisha.ac.in.

TDI Group, which has joint ventures with prominent real estate developers, has been served show cause notices by Haryana’s town planning authorities for violations of land use at the realty company’s township project in Panipat. Among the allegations levelled are that undetermined lands (UD Lands) in the township and green areas such as parks have been illegally sold in violation of town planning guidelines. “We have served show cause notices to them as the enforcement wing was intimated of these violations through complaints”, said Sunil Antil, district town planner, Panipat when contacted.

Elon Musk on Friday claimed that X, formerly the microblogging site Twitter, had become the number one news app on the App Store in India. Elon Musk shared the news via a post on X, saying, «X is now number 1 for news in India» https://x.com/elonmusk/status/1859814646280294886

Real estate brokerage firm Moneytree realty is expecting a 30% growth in sale value with residential and commercial real estate continues to do well. The company, which has set a target of Rs 500 crore in the first year of operation, is expected to close the year at Rs 750 crore and then touch Rs 1,000 crore in 2025. The company has tied up with leading developers in Delhi-NCR, Goa and Mumbai and banking on the boom in the residential segment to drive the growth.

Dr. Venkatesh Movva, an orthopedic doctor specialising in Sports Medicine, recently shared his expert advice on The Ranveer Show podcast. He revealed which exercises are best avoided to keep your body safe and injury-free. Some of his suggestions might surprise you.