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25.10 / 16:27
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Courts
Varanasi court rejects Hindu side's plea for survey through excavation in Gyanvapi complex
Gyanvapi complex. The lawyer representing the Hindu side, Madan Mohan Yadav, said Civil Judge Senior Division Yughul Shambhu rejected the petition. Following a July 2023 order of the district court, the Archaeological Survey of India (ASI) carried out a scientific survey of the Gyanvapi premises, located next to the Kashi Vishwanath temple here, to determine whether the mosque was constructed over a pre-existing structure of a Hindu temple. The ASI submitted its survey report to the district court in a sealed cover on December 18.
25.10 / 14:53
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Investigations
Bengaluru building collapse: Owner supervised construction via WhatsApp video calls
WhatsApp video calls, according to Hennur police investigating the incident, as reported by TOI. This unusual method of remote supervision by the owner, Muniraja Reddy, 52, a civil engineer, has raised concerns among investigators. Authorities are now examining whether this remote management contributed to the building's collapse. Deputy Commissioner of Police (East) D Devaraj stated that Muniraja Reddy is currently hospitalised due to health issues. He will undergo the arrest procedure once he recovers. His son, Bhuvan Reddy, and head mason Murugesha have already been presented in court and remanded to judicial custody for 14 days.
25.10 / 14:53
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Societe Generale sells 0.5% stake in IndusInd Bank for Rs 421 crore
IndusInd Bank's shares for Rs 421 crore through an open market transaction. According to the bulk deal data available on the National Stock Exchange (NSE), Paris-headquartered Societe Generale offloaded 39.30 lakh shares or 0.50 per cent stake in IndusInd Bank. The shares were disposed of at an average price of Rs 1,070.61 apiece, taking the transaction value to Rs 420.80 crore.
25.10 / 14:53
markets
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2020
rowing
India's foreign exchange reserves drop by $2.163 billion amid investor sell-off
foreign exchange reserves dipped by another $2.163 billion in the week ending October 18 to $688.267 billion, amid a massive sell-off by foreign institutional investors in the local equity market. This is the third week in a row that the forex reserves fell — cumulatively by 16.618 billion from the all-time high of $704.885 billion, according to data released by the Reserve Bank of India. The FII offloaded around $10 billion worth of equity investments in the first three weeks of October, making it the biggest monthly sell-off from the Indian stock market beating the $7.9 billion sale seen during the pandemic-led market crash in March 2020.
25.10 / 13:51
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International
Strong festive season drives demand for gold fuelled by prices, online sales
demand for gold bars and coins remains strong during the festive season, partly fuelled by the rise in gold prices and expectations of further increases. This trend is further enhanced by sales across online marketplaces, making gold more accessible, according to a World Gold Council report released on Friday. High prices coupled with an inauspicious period in the Hindu calendar for making purchases of valuable items from mid-September to early October, kept consumers away from jewellery buying. However, market reports indicate early signs of a resurgence in gold buying due to various ongoing festivals, with demand largely driven by wedding purchases. Retailers are actively implementing marketing campaigns to stimulate sales, said Kavita Chacko, Research Head, India of World Gold Council.
25.10 / 11:49
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prevention
India's forex reserves fall by $2 billion to $688 billion
Reserve Bank of India (RBI) on Friday. The RBI keeps a close watch on the foreign exchange markets and steps in when needed to keep things stable. The central bank's actions such as managing liquidity and selling dollars, are meant to prevent big swings in the exchange rate and to reduce the risk of a sharp drop in the Indian rupee. RBI's approach does not set a specific target for the rupee's value but aims to maintain stability in the foreign exchange markets.
25.10 / 10:51
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reports
Shriram Finance Q2 Results: Net profit jumps 18% to Rs 2,071 crore; Rs 22 per share dividend declared
Shriram Finance on Friday reported a profit after tax (PAT) growth of 18.3% at Rs 2,071.26 crores as against Rs 1,750.84 crores recorded in the same period of the previous year. The Net Interest Income (NII) for the second quarter ended September, 30 2024 increased by 16.37% and stood at Rs 5,606.74 crores as against Rs. 4,818.18 crores in the same period of the previous year. The company's board declared an interim dividend of Rs 22 per share and has set the record date on November 7, 2024.
25.10 / 09:07
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International
HPCL Q2 Results: Net profit slumps 98% YoY to Rs 143 crore, revenue rises 5%
Hindustan Petroleum Corporation (HPCL) on Friday reported that its consolidated net profit fell 97.5% year-on-year (YoY) to Rs 142.67 crore as against Rs 5,826.9 crore reported in the corresponding quarter of the last fiscal year. HPCL’s revenue for the quarter rose 5.3% YoY to Rs 1,07,754.9 crore, up from Rs 1,02,288.6 crore in the corresponding quarter of the previous year.
24.10 / 10:43
24.10 / 10:43
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country
Traffic
Govt aims to develop 50 more airports in 5 years: Aviation minister K Rammohan Naidu
K Rammohan Naidu on Thursday said the government aims to set up 50 more airports in the next five years and pitched for further developing the country's airport ecosystem that will also help in boosting job creation. In the last 10 years, the number of airports has doubled to 157. Naidu said that 50 more airports are expected to be developed in the next five years and 200 more in the next 20 years. The minister was speaking after inaugurating the Airbus India and South Asia Headquarters — Training Centre in the national capital.
24.10 / 09:39
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reports
Strides Pharma Science Q2 Results: Firm psosts net profit of Rs 94.66 crore
Strides Pharma Science Ltd on Thursday reported a consolidated net profit of Rs 93.66 crore in the second quarter ended September 2024. The company had posted a net loss of Rs 149.45 crore in the corresponding period last fiscal, Strides Pharma Science said in a regulatory filing. Revenue from operations in the quarter under review stood at Rs 1,201.11 crore as against Rs 999.43 crore in the year-ago period, it added.
24.10 / 08:37
security
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Healthcare
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Trade
Max Healthcare shares fall 1.15% as Nifty drops
Max Healthcare Institute Ltd. slipped 1.15 per cent to Rs 903.75 in Thursday's trade. It hit a high of Rs 913.45 and low of Rs 889.0 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 852.12, while the 50-DMA was at Rs 925.36. 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.
24.10 / 02:51
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electronic
The "good guy" BofA MD who lost his job in July found a new one
Oliver Mudie, the former nicest guy in Bank of America's London equities team, has got a new job.
23.10 / 13:13
Boeing
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Research
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International
Boeing reports USD 6 bn quarterly loss ahead of vote by union workers who crippled production
Boeing reported a massive loss of more than USD 6 billion in its third quarter, dragged down by a work stoppage and charges tied to its commercial aircraft and defence programmes. Boeing lost USD 9.97 per share for the period ended Sept 30, with an adjusted loss of USD 10.44 per share. Analysts polled by Zacks Investment Research were calling for a loss of USD 10.34 per share. Revenue totalled USD 17.84 billion, matching Wall Street estimates. The biggest news of the day, however, is likely to come Wednesday evening, when the International Association of Machinists and Aerospace Workers reveals whether striking union members will return to factories after crippling production.
23.10 / 12:57
Provident
Google
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Highways
country
Schools
Road ministry decides to double 'defect liability period' under EPC contracts to 10 years: Gadkari
Nitin Gadkari on Wednesday said the government has decided to double the 'defect liability period' to 10 years for contractors of engineering, procurement and construction (EPC) projects. Currently, under EPC projects, the responsibility for maintenance of national highways lies with the government after the defect liability period (5 years) is over. «The quality of roads built under EPC mode is not good. The defect liability period under EPC mode is 5 years… and within 3 years, there are lots of problems on roads,» Gadkari said at an event here. The road transport and highways minister noted that the roads built under BOT (build-operate-transfer) or HAM (Hybrid Annuity Model) mode are in good condition because the responsibility of maintenance of roads lies with the contractor and he has to pay the price.
23.10 / 11:15
markets
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Pharmaceuticals
Share market update: Most active stocks in today's market in terms of volume
The NSE Nifty index closed 36.6 points down at 24435.5, while BSE Sensex ended down 138.74 points at 80081.98.
23.10 / 08:03
security
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trends
Trade
Siemens shares fall 2.51% as Nifty gains
Siemens Ltd. slipped 2.51 per cent to Rs 7053.8 in Wednesday's trade. It hit a high of Rs 7263.5 and low of Rs 7053.8 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 6171.89, while the 50-DMA was at Rs 7101.35. 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.
23.10 / 06:31
UPS
security
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trends
Trade
Ambuja Cements shares up 0.9% as Nifty gains
Ambuja Cements Ltd. gained 0.9 per cent to Rs 563.1 in Wednesday's trade. It hit a high of Rs 564.9 and low of Rs 554.6 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 614.59, while the 50-DMA was at Rs 613.55. 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.
23.10 / 06:03
23.10 / 06:03
markets
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Remark
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International
EY Fires Employees for attending online classes: Sacked workers say firm itself promoted multitasking
EY) has terminated the employment of several employees in the United States for attending multiple online training sessions during the firm's learning week earlier this year. The company stated that this action violated its global code of conduct and ethics. The dismissals occurred last week, and some of the affected employees shared their experiences with The Financial Times.
23.10 / 00:43
markets
WhatsApp
trends
2020
Broader market gets the feeling of Covid deja vu
small-cap stocks have tumbled by 25-70% from their yearly highs. The slump in nearly one-third of the stocks has been as severe as the Covid-led sell-off in March 2020. Among 1,472 stocks with a market capitalisation of over Rs 1,000 crore, 29 have plunged between 50% and 70% from their yearly highs, while 533 have fallen between 25% and 50%.
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