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Railways on Wednesday dismissed as «baseless» claims that passengers would be allowed to travel free of cost during the Maha Kumbh Mela, and said no such provision exists. «It has come to the attention of Indian Railways that certain media outlets are circulating reports claiming that passengers will be allowed to travel free of cost during the Maha Kumbh Mela,» it said in a statement. «Indian Railways categorically denies these reports, as they are entirely baseless and misleading,» the statement said. «Travelling without a valid ticket is strictly prohibited under the rules and regulations of Indian Railways and constitutes a punishable offense. There are no provisions for free travel during Maha Kumbh Mela or any other occasion,» the ministry added.

reinsurance support, industry sources said. Claims from the catastrophes such as Vijayawada and Vadodara floods have prompted reinsurers to demand revised pricing models and stricter underwriting practices, industry sources said. Fire and engineering insurance policies are typically bought by businesses, industrial units, and property owners to protect against risks like fire damage, machinery breakdown, and engineering-related perils. From January 1, Industrial All Risk (IAR) policies, a comprehensive fra-mework for industrial property and operations, will follow stricter pricing rules.

RBI) has lifted the business restrictions on Edelweiss Group's NBFCs, ECL Finance and Edelweiss Asset Reconstruction Co (ARC) after being satisfied with the remedial measures put by both companies. “Having satisfied itself based on submissions and remedial measures put in place by these companies to address the concerns of RBI and their commitment to ensure adherence to the regulatory guidelines at all times and on an ongoing basis, the Reserve Bank has decided to lift the afore-mentioned restrictions placed on ECL Finance Limited and Edelweiss Asset Reconstruction Company Limited, with immediate effect,” RBI said in a press release. On May 29, RBI had imposed restrictions on both companies for what it described as 'material' transgressions that allegedly involved 'evergreening of stressed assets'. ECL Finance was directed to cease and desist from undertaking any structured transactions in respect of its wholesale exposures, other than repayment and/ or closure of accounts while Edelweiss ARC was directed to stop acquisition of financial assets including security receipts (SRs) and reorganising the existing SRs into senior and subordinate tranches.

Singh, a Rajya Sabha member, had recently addressed a press conference in Delhi where he allegedly made allegations against Sulakshana Sawant, the wife of CM Pramod Sawant. Sulakshana Sawant filed a complaint in the civil court at Bicholim in north Goa. The ad-hoc civil judge heard the suit and issued a notice to Sanjay Singh, returnable on January 10, 2025.

Jindal Saw on Tuesday said it has inked a pact to acquire 31.20 per cent equity in ReNew Green Energy. However, the company did not divulge the financial details of this equity acquisition. In a filing, Jindal Saw said, «It has entered into a share purchase agreement with ReNew Green Energy Solutions Private Limited (RGES) to acquire shareholding up to 31.20 per cent equity share capital in ReNew Green MHH One Private Limited (RGMHH), which resulted RGMHH as an associate of the company». The acquisition is with an objective to procure electricity at a concessional rate, the company said.

The company is a subsidiary of European carmaker Skoda Auto. The price increase will apply to the company's entire portfolio, including the Kushaq, Slavia, Superb, and Kodiaq.

Adani Energy Solutions Ltd (AESL) on Tuesday said it has formed a new subsidiary entity for transmission, distribution and power supply. Adani Energy Solutions Step-Eleven Limited (AESSEL) has been incorporated with the Registrar of Companies, Ahmedabad, Gujarat, on December 17, 2024, and is yet to commence its business operations, the company said in an exchange filing.

Wall Street's main indexes opened lower on Tuesday, as investors grew cautious ahead of the Federal Reserve's interest rate decision later this week following strong retail sales data that pointed to consumers' continued resilience. The Dow Jones Industrial Average fell 61.0 points, or 0.14%, at the open to 43,656.47.

Production Linked Incentive (PLI) Schemes for 14 key sectors have been announced with an outlay of Rs 1.97 lakh crore to enhance manufacturing capabilities and exports. «As on August 2024, across 14 sectors, investment of Rs 1.46 lakh crore have been realised, which has resulted in incremental production/sales of over Rs 12.50 lakh crore, employment generation of over 9.5 lakhs, and exports surpassing Rs 4 lakh crore,» he added. Incentives of Rs 2,968 crore in eight sectors and Rs 6,753 crore in nine sectors during 2022-23 and 2023-24, respectively, have been disbursed.

Birla Estates, a wholly owned subsidiary of Aditya Birla Real Estate has acquired a land parcel covering 70.92 acres in Boisar in Maharashtra for Rs 104.3 crore. In September, the company concluded the deal to acquire over 24.5-acre land parcel in Thane’s Kalwa locality from Hindalco Industries for over Rs 537 crore. The board of directors of Hindalco Industries had approved this sale of land in July to Ekamaya Properties, a wholly owned subsidiary of Birla Estates. Prior to that, the developer, formerly known as Century Textiles and Industries, acquired the ownership rights of around 10-acre leasehold land parcel in Mumbai’s prime Worli locality from Wadia Group Chairman Nusli Wadia for Rs 1,100 crore.

Domestic benchmark index NSE Nifty ended 332.25 points at 24336.0, while the BSE Sensex closed 1064.12 points down at 80684.45.

Tata Motors on Tuesday said it has won an order for 1,297 bus chassis from Uttar Pradesh State Road Transport Corporation (UPSRTC). This marks the third order for the auto major from UPSRTC in a year, with a cumulative order size of over 3,500 units, Tata Motors said in a statement. The order was won through a competitive e-bidding process and the bus chassis will be delivered in a phased manner under mutually agreed terms, it added. The Tata LPO 1,618 diesel bus chassis is developed specifically for intercity and long-distance travel.

Opposition parties dubbed the draft laws — a Constitution amendment bill and an ordinary bill — as an attack on the federal structure, a charge rejected by the government. The bills were introduced after the opposition sought a division of votes. After electronic voting and a subsequent count by paper slips, the bills were introduced with 269 members in favour and 198 against.

pharma companies and government officials will meet Tuesday to iron out issues regarding over the counter (OTC) drugs. «Appropriate use of OTC drugs improves accessibility and affordability for treatment and prevention of commonly occurring conditions.

Omar Abdullah, another ally Trinamool too has targeted Congress for its allegations. Trinamool leader Abhishek Banerjee, who is also party chief Mamata Banerjee's nephew, said Congress should rather demonstrate how EVMs can be tampered with than making random charges. «People who raise questions on EVMs, if they have anything then they should go and show a demo to the Election Commission.

Delhi airport operator DIAL on Monday said the airport now provides connectivity to 150 destinations. On Sunday, Thai AirAsia X launched direct flights between Delhi and Bangkok-Don Mueang (DMK), marking the 150th destination connected to Delhi airport, according to a release. Delhi International Airport Ltd (DIAL) also said it has become the first airport in the country to connect 150 destinations. «Of all the long-haul destinations from India, 88 per cent of destinations are connected from Delhi and 56 per cent of all long-haul weekly flights departing from India, operate from Delhi.

Masayoshi Son will announce a $100 billion investment in the U.S. over the next four years during a Monday visit to U.S. President-elect Donald Trump's residence Mar-a-Lago, CNBC reported on Monday. Son will also promise in the joint announcement with Trump to create 100,000 jobs focused on artificial intelligence (AI) and related infrastructure, with the money to be deployed before the end of Trump's term, CNBC said, citing sources. The funding could come from various sources controlled by SoftBank, including the Vision Fund, capital projects or chipmaker Arm Holdings, CNBC said.

Bajaj Holdings & Investment Ltd. traded at Rs 11113.65 on BSE at 11:46AM (IST) on Monday, 0.19 per cent from previous close. The stock quoted a 52-week low price of Rs 7631.10 and a high of Rs 11515.10.

Bank of Baroda 0.07 per cent to Rs 258.05 in Monday's trade as of 11:51AM (IST). The stock hit a high price of Rs 259.70 and low of Rs 255.75 during the session. The return on equity (ROE) for the stock stood at 15.67 per cent. Traded volume on the counter stood at 11:51AM shares and turnover at Rs 5.69 crore around that time. The stock of Bank of Baroda quoted a 52-week high price of Rs 298.45 and 52-week low prices of Rs 214.85, respectively.

Zomato Ltd. 0.26 per cent to Rs 289.15 in Monday's trade. It hit a high of Rs 292.55 and low of Rs 286.45 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 226.55, while the 50-DMA was at Rs 270.39. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

The NSE Nifty index traded 96.15 points down at 24672.15, while BSE Sensex was 338.44 points at 81794.68 as of 10:55AM(IST)on December 16.