Recommendations Financial News

Indian astronaut is likely to fly to the International Space Station by April next year as part of the NASA-ISRO collaborative initiative, Science and Technology Minister Jitendra Singh said on Wednesday. Two Indian astronaut-designates Group Captains Shubhanshu Shukla and Prashanth Balakrishnan Nair are undergoing training in the US for the Axiom Space Ax-4 mission. ISRO has assigned Shukla for the Ax-4 mission while Nair would be the backup candidate. «An Indian astronaut will travel to the ISS by April next year,» Singh told a press conference here ahead of the first-ever National Space Day celebrations to mark the landing of Vikram lander on the Moon on August 23 last year. The theme for the National Space Day is 'Touching Lives while Touching the Moon: India's Space Saga'. On the occasion, ISRO will release on August 23 the scientific data collected by the Chandrayaan-3 mission that could be used by researchers.

Tata Motors on Wednesday said it has tied up with Delta Electronics India and Thunderplus Solutions to set up charging infrastructure for its range of electric commercial vehicles (CVs). As part of the MoU inked between the parties, 250 new fast-charging stations for electric commercial vehicles would be set up across the country. Strategically located in and around over 50 cities, including Delhi, Mumbai, Chennai, Bengaluru, Pune, and Kochi, among others, these new charging stations will significantly increase the existing network of 540 commercial vehicle charging points, Tata Motors said in a statement. Basis its understanding of the commercial EV movement, the commercial vehicle major will recommend optimal locations and nearest dealerships for setting up the fast-charging stations, the company said.

National Board of Education for Medical Studies (NBEMS) is likely to announce the results for the National Eligibility Cum Entrance Test (NEET) PG 2024 shortly. The NEET PG exam was held on August 11, 2024, at 416 centers across 170 cities in 31 states, with over 2.2 lakh candidates participating. Results will be accessible for download on the official NBEMS websites, natboard.edu.in and nbe.edu.in. Qualified candidates will be eligible for admission to MD/MS/PG Diploma and Post MBBS DNB Courses, Direct 6 Year DrNB Courses, and NBEMS Diploma Courses through counseling rounds. For further details, visit the official NBEMS website.

LTIMindtree Ltd. traded 0.18 per cent up at Rs 5718.35 at 01:34PM (IST) on Wednesday, even as BSE benchmark Sensex dropped 76.95 points to 80725.91. The scrip had closed at Rs 5707.95 in the previous session. The stock quoted a 52-week high price of Rs 6442.65 and 52-week low of Rs 4518.35, respectively. As per BSE data, total traded volume on the counter till 01:34PM (IST) stood at 21302 shares with a turnover of Rs 12.13 crore.

Mint delves deeper into the issue and what’s likely to come next. The telecom regulator sought comments from stakeholders on how to frame the terms and conditions to grant licences for services that fall under the new telecom law, which came into effect earlier this year.

Defence sector based mutual funds (including active and passive funds) have lost upto 5% in the last one month. These schemes gave a negative average return of around 4.04% in the said period. Only two funds based on the defence sector have completed one month of existence in the market. In the last one month, Nifty India Defence — TRI also lost around 5.13%. Motilal Oswal Nifty India Defence Index Fund, a passive fund based on defence sector, lost the most of around 5.21% in the last one month. Launched in July 2024, the scheme manages assets of Rs 2,330 crore as on July 2024.

Diversified auto ancillaries’ revenue growth stood at 23% YoY in Q1FY25, while their EBITDA increased by 29% YoY during the same period. In comparison, auto OEMs experienced a 9% revenue increase, with their EBITDA growth at 21%, according to a Nuvama note. The coverage included Bharat Forge, Endurance Technologies, CIE Automotive, SAMIL, Sona BLW Precision, Uno Minda, and Varroc Engineering.

Voltas Ltd. rose 0.61 per cent to Rs 1670.0 in Wednesday's trade as of 11:42AM (IST) even as the benchmark Nifty ruled at 24704.65, up 5.81 points. The scrip had closed at Rs 1659.75 in the previous session. The stock quoted a 52-week low of Rs 800.85 and a high of Rs 1676.0. The company quoted a market-cap of Rs 55257.75 crore on the BSE.

The Nifty future closed positive with gains of 0.45% at 24,707 levels on Tuesday. The India VIX was down by 3.46% from 14.32 to 13.82 levels.

JP Morgan maintained an overweight rating on Cyient while BofA and UBS have a buy call on Varun Beverages and Avenue Supermarts respectively.

Nifty index has been making higher highs and higher lows from the last three trading sessions and recently it bottomed out with support of 50 DEMA. Index filled a major gap down zones and scaled higher after a consolidation breakout above 24400 zones. “Now it (Nifty) has to continue to hold above 24650 zones for an up move towards 24850 then 25000 levels while support is seen at 24600 then 24500 zones,” said Chandan Taparia, Senior VP, Equity Derivatives and Technicals, Broking & Distribution at Motilal Oswal.

stock market indices closed higher on Tuesday, August 20. The frontline indices witnessed solid buying on positive global cues as both the Nifty and the Sensex index closed higher after Tuesday's trading session.

₹5 lakh cash or cash equivalent for either buying or selling options," said Rajesh Baheti, director, Crosseas Capital, one of India's largest arbitrage and jobbing firms. “Another suggestion is to have multiple index products expire on the same day in place of having just a single expiry per week per exchange." Baheti said these were part of his comments to Sebi's 30 July consultation paper titled “Measures to strengthen index derivatives framework for increased investor protection and market stability". Three of the most important recommendations of Sebi’s Secondary Market Advisory Committee (SMAC) are to increase the initial margin to trade, have only a single product expiry per week per exchange, down from the current five indices which expire each day of week, and increase in contract size from ₹5-10 lakh currently to ₹25-30 lakh.

constitutional mandates was also a concern that weighed heavily on the Second Administrative Reforms Commission (ARC) report of 2005 and is reflected in its 10th report titled — 'Refurbishing of Personnel Administration & Scaling New Heights'. The report reads how (senior executive system) SES — a western model — that draws the best talent from both the public and the private sector has its advantages; it may also have 'disadvantages specific to India'. Socio-cultural diversity apart, the report points to «the possible adverse impact of such recruitment (if done on a large scale) on the constitutional mandate for affirmative action as a result of the creation of a new recruitment channel at a senior level» besides conflict-of-interest concerns, lack of sufficient talent in the private sector and operational difficulties. Nevertheless, the Second ARC did recommend lateral entry from both — other services as well as private sector — preferably at no less than the additional secretary level for areas of expertise.

madrasas which impart religious education to students of other faiths and force them to attend worship practices contrary to their religious teachings will be stopped and legal action taken, Madhya Pradesh Chief Minister Mohan Yadav said on Tuesday. Yadav issued this warning during a meeting of cabinet ministers. The School Education Department has issued instructions enforcing a ban on religious teaching to students of faiths other than those prescribed by their respective religions, in compliance with Article 28(3) of the Constitution, as per an official release quoting Yadav. The chief minister said that government grants to madrasas (Islamic seminaries) that force students to study or participate in religious practices contrary to their own beliefs will be halted. Additionally, such institutions may face legal actions, including potentially cancelling their recognition.

data breach last week. Cybercriminals gained access to the personal information, including Social Security numbers, of billions of Americans in the shocking and harrowing data breach at National Public Data last week. It is alleged that the breach contains data dating back at least thirty years, and the fact that Social Security numbers are among the data has sparked a lot of privacy concerns. Are you pondering if it affected you and were you also among the victims? Here's how to ascertain it.

Vedanta Ltd. rose 0.61 per cent to Rs 445.25 in Tuesday's trade as of 01:14PM (IST) even as the benchmark Nifty ruled at 24721.85, up 149.2 points. The scrip had closed at Rs 442.55 in the previous session. The stock quoted a 52-week low of Rs 207.85 and a high of Rs 506.85. The company quoted a market-cap of Rs 174012.27 crore on the BSE.

«The next resistance for the Bank Nifty is at 51,900 to 52,000. So, I feel that market should do well. Bank Nifty should lead from here and at least I am expecting 1000-point rally in next three to four sessions in the Bank Nifty,» says Vinay Rajani, HDFC Securities. Firstly, if you look at the markets, it is 140 points up today, 24,700. We have also claimed the 2nd August highs that we had seen. So, how are you looking at the Nifty trajectory from here on? Vinay Rajani: So, basically, for the last four trading sessions Nifty has been rising and the all-time high for the Nifty was placed at 25,078, which was registered on 1st August and from that level we witnessed a correction and that correction went up to 23,900 odd level. If we were to take the 61.8%, which is the Fibonacci retracement level, Nifty has managed to close, it has surpassed that level, 24,625 was the level precisely, that retracement level that has been taken out. We have also taken out the crucial gap resistance, which was there around 24,686. So, now it is trading above that.

Crompton Greaves Consumer Electricals Ltd. fell 0.71 per cent to Rs 450.2 in Tuesday's trade as of 01:19PM (IST) even as the benchmark Nifty ruled at 24720.05, up 147.4 points. The scrip had closed at Rs 453.45 in the previous session. The stock quoted a 52-week low of Rs 262.1 and a high of Rs 470.5. The company quoted a market-cap of Rs 28939.26 crore on the BSE.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Note: The purpose of this article is only to share interesting charts, data points and thought-provoking opinions. It is NOT a recommendation. If you wish to consider an investment, consult your adviser. This article is strictly for educational purposes only.  Brijesh Bhatia has over 18 years of experience in India’s financial markets as a trader and technical analyst. He has worked with the likes of UTI, Asit C Mehta Financial Services, and Edelweiss Securities. Presently he is an analyst at Definedge. Disclosure: The writer or his dependents may or may not hold the stocks/commodities/cryptos/any other asset discussed in this article.