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DGFT on Tuesday said the Department of Defence Production has been authorised as the licensing authority for export of all items falling under the munitions category for military end-use. The Directorate General of Foreign Trade (DGFT) has notified the updated SCOMET (Special Chemicals Organisms Materials Equipment and Technologies) list for 2024. It said that India's export control list (SCOMET) has been updated, incorporating the recent changes in the control lists of the multilateral export control regimes, and certain policy amendments on the basis of inputs from relevant government organisations and stakeholders. «With the recent update, DGFT has also authorised the Department of Defence Production (DDP), Ministry of Defence, to be the licensing authority for export of all items falling under Category 6 of SCOMET for military end use,» it said in a statement.

GST Network will launch the Invoice Management System (IMS) from October 1 which will facilitate taxpayers in matching their records/invoices vis-a-vis issued by their suppliers for availing the correct Input Tax Credit (ITC). In an advisory to Goods and Services Tax (GST) payers, GSTN said to enable taxpayers to efficiently address invoice corrections/amendments with their suppliers through the portal, a new communication process called the IMS is being launched. «This will also facilitate taxpayer in matching of their records/ invoices vis-a-vis issued by their suppliers for availing the correct ITC,» GSTN said. IMS will allow the recipient taxpayers to either accept or reject an invoice or to keep it pending in the system, which can be availed later.

At this floor price, the size of the OFS is estimated to be around Rs 4,701 crore.

tariff-rate quota (TRQ) scheme to the US for the October 2024 — September 2025 period. Shipments under the TRQ enjoy relatively lesser customs duties. After the quota is reached, a higher tariff applies to additional imports. «The quantity of 8,606 MTRV (metric tonnes raw value) of raw cane sugar to be exported to USA under TRQ scheme from 01.10.2024 to 30.09.2025 has been notified,» the Directorate General of Foreign Trade (DGFT) said in a public notice. A similar quantity was notified in January also.

Supreme Court on Tuesday asked the Sahara group to submit a “scheme” for the sale of its immovable, domestic and offshore properties by Thursday. This is to raise money for refund of more than Rs 24,029 crore collected by its two entities — Sahara India Real Estate Corporation Ltd (SIRECL) and Sahara Housing Investment Corporation Ltd (SHICL) — from 3.3 crore bond investors, with an interest of 15% from March 2008, as directed by the apex court in a series of orders since August 2012. A bench comprising Justices Sanjeev Khanna, Bela Trivedi and MM Sundresh told Sahara’s senior advocate Kapil Sibal that “more than 10 years have passed, and you still haven't deposited the money… SEBI is seeking the remaining Rs 10,000 crore. How will you muster the remaining Rs 10,000 crore?” Sibal said that Sahara group did not have a fair opportunity to sell its properties to pay the balance amount and no one wanted to “touch its properties.”

Wall Street's main indexes opened lower on Tuesday as investors moved to the sidelines ahead of a slew of economic data reports due through the week that could influence the extent of monetary policy easing by the Federal Reserve this year. The Dow Jones Industrial Average fell 73.41 points, or 0.18%, at the open to 41,489.67.

AU Small Finance Bank has formally made an application to the Reserve Bank of India for voluntary transition to universal bank, the bank announced Tuesday. «We wish to inform (you) that the bank has submitted an application to the Reserve Bank of India to seek approval for voluntary transition from a small finance bank to universal bank on September 03, 2024,» the bank said in a regulatory filing to the stock exchanges. Transition to universal banks would mean that AU would have to follow easier regulatory norms in certain aspects — its capital adequacy requirement would come down to around 11.5% (including capital conservation buffer) from 15%, the priority sector lending norm would be lower at 40% instead of 75%, and the stipulation of having at least 50% of loan portfolio in loans less than Rs 25 lakh would no longer exist.

Ugar Sugar Works Ltd.(up 6.52%), Dhampur Sugar Mills Ltd.(up 0.41%), Triveni Engineering & Industries Ltd.(up 0.37%) and Vishwaraj Sugar Industries Ltd.(up 0.17%) stood among the top gainers.

Jawa Yezdi Motorcycles is set to launch the second model of Jawa 42 on Tuesday. This comes a few weeks after the company launched an updated version of the existing model of the same name. The second Jawa 423 is expected to be equipped with a bigger 334-cc engine from the Jawa 350 but with a different tune. Additionally, the new bike might come with some changes in the chassis with more operable dimensions. It is expected to have a six-gear transmission.

Mumbai airport have faced significant disruptions due to ongoing conflicts between two rival unions, affecting baggage handling and causing delays for passengers. The dispute centers around the allocation of wheelchair attendant jobs, a highly coveted task among airport loaders.

Adarsh Developers is close to a financial turnaround, as it repaid a Rs 750 crore structured finance facility from Edelweiss Alternative Asset Advisors raised in 2022. The repayment, aided by operational cash flow and lower-cost refinancing from banks, has helped the Bengaluru-based company reduce its cost of funds by 8-9 percentage points. The initial funding from Edelweiss, raised at over 20%, was used for reviving its residential projects and generating liquidity. Edelweiss had lent the money in two tranches, with Rs 450 crore in the first instalment. While Adarsh Developers used part of the Rs 1,900 crore it raised from a land sale to Mapletree Investments earlier this year to repay Rs 450 crore, it continued to finance the remaining debt.

Goldman Sachs believes gold has the highest potential for a near-term price hike due to its status as a preferred hedge against risk, while weak demand from China has led to a «more selective, less constructive» view of other commodities. «Imminent Fed rate cuts are poised to bring Western capital back into the gold market, a component largely absent of the sharp gold rally observed in the last two years,» Goldman analysts said on Monday in a note titled 'Go for Gold'. Spot gold has gained 21% so far this year, breaking successive records and hitting a historic high of $2,531.60 per ounce on Aug. 20.

AIPL plans to take the rental portfolio to nearly 5 million sq ft with multiple retail and office complex under construction, a senior executive said. Majority of the company’s commercial project are in Delhi-NCR while some are in Punjab as well. The company currently operates 1.4million sq ft and by Q2 2025, two projects, AIPL Statement and AIPL Autograph having total leasable area of 3.5 million sq ft would be ready.

On the BSE, Unitech Intnl(down 15.49 per cent), Gautam Gems(down 11.17 per cent), AXISCADES Engg Tech(down 10.79 per cent), Octavius Plantations(down 10.70 per cent) and Shri Balaji Valve Co(down 9.87 per cent) were among the stocks that plunged over 5 per cent during the session.

Hero MotoCorp Ltd.(up 0.97 per cent), Bharat Forge Ltd.(up 0.46 per cent), Eicher Motors Ltd.(up 0.17 per cent), Mahindra & Mahindra Ltd.(up 0.04 per cent) and Maruti Suzuki India Ltd.(up 0.03 per cent) were among the top gainers.

Indian tennis star Rohan Bopanna and his Indonesian partner Aldila Sutjiadi entered the semifinals of the US Open mixed doubles with a hard-fought win over Australian Matthew Ebden and Barbora Krejcikova of the Czech Republic here. The eighth seeded Indian-Indonesian pair registered a 7-6(4) 2-6 10-7 win over fourth seeds Ebden and Krejcikova in the quarterfinal that lasted one hour and 33 minutes on Monday night. Bopanna and Sutjiadi had earlier defeated Australian duo of John Pears and Katerina Siniakova of the Czech Republic 0-6 7-6(5) 10-7 in a second-round match. Bopanna and Sutjiadi will play American pair of Donald Young and Taylor Townsend in the semifinals.

VRL Logistics with a target price of Rs 660. The current market price of VRL Logistics Ltd. is Rs 544.8. VRL Logistics Ltd., incorporated in the year 1983, is a Small Cap company (having a market cap of Rs 4617.02 Crore) operating in Logistics sector.

rape and murder of a 10-year-old tribal girl in Balasore «very heart wrenching,» former minister and Biju Janata Dal (BJD) leader Pratap Keshari Deb said the law and order situation has "deteriorated" after the BJP came into power in the state. Speaking to ANI on Monday, Deb said «It is a very depressing and heart-wrenching episode that a minor girl has been raped and murdered. Last Saturday, we raised the issue from the opposition side, that after the BJP came into power, the law and order situation in the state has deteriorated.» Further, he said the BJP government needs to take action as here has been a «spurt of violence on communal lines» and a series of rape cases.

PNB Housing Finance with a target price of Rs 1164. The current market price of PNB Housing Finance Ltd. is Rs 954. PNB Housing Finance Ltd., incorporated in the year 1988, is a Mid Cap company (having a market cap of Rs 24918.33 Crore) operating in NBFC sector.

Gujarat Gas with a target price of Rs 755. The current market price of Gujarat Gas Ltd. is Rs 671. Gujarat Gas Ltd., incorporated in the year 2012, is a Mid Cap company (having a market cap of Rs 46810.53 Crore) operating in Gas & Petroleum sector.

Grasim Industries with a target price of Rs 3160. The current market price of Grasim Industries is Rs 2690. Grasim Industries Ltd., incorporated in the year 1947, is a Large Cap company (having a market cap of Rs 183122.43 Crore) operating in Diversified sector.