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India and the US are working together towards becoming self-reliant in critical minerals, strengthening supply chains and adopting cutting-edge technologies, commerce and industry minister Piyush Goyal said Wednesday, adding that he will visit Washington early next month for the India-US CEO Forum. “With both of us suffering a common source of concern… common concern C…(there is) lots to be done. We have a lot to offer, you have a lot to offer,” he said at the US-India Business Council’s (USIBC) 49th Annual General Meeting. He said that India and US share one of the most strategic and consequential relationship with shared interests in bilateral and geopolitical issues.

The NSE Nifty index closed 122.65 points down at 24918.45, while BSE Sensex ended down 398.13 points at 81523.16.

Marico Ltd. gained 0.96 per cent to Rs 686.4 in Wednesday's trade. It hit a high of Rs 689.0 and low of Rs 675.05 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 573.62, while the 50-DMA was at Rs 658.48. 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 was trading 38.0 points up at 25079.1, while BSE Sensex was up 123.94 points at 82045.23 at the time of writing this report.

Swiggy may increase the fresh issue component of its upcoming IPO to ₹5,000 crore, and will seek the approval of its shareholders for the same at an extraordinary general meeting (EGM) on October 3, it said in a notice to shareholders. The food and grocery delivery company had initially planned to raise ₹3,750 crore in fresh capital in addition to a ₹6,664 crore offer for sale by existing investors. The final size of Swiggy's IPO could be different from the approval it is seeking from its shareholders. Swiggy has made a confidential filing of its draft prospectus for its IPO with the Securities and Exchange Board of India. The company's board of directors had first accorded its approval to the public offering back in April. Tuesday's development was first reported by online news portal Entrackr. Last week, Swiggy reported its financials for the year ended March 31, 2024. It recorded a 36% year-on-year growth in its operating revenue to ₹11,247 crore, while managing to reduce its net loss to ₹2,350 crore, 44% lower than a year ago.

Reserve Bank of India has imposed a penalty of ₹1.91 crore on Axis Bank and ₹1 crore on HDFC Bank for non-compliance with regulations. Both banks opened certain savings deposit accounts in the name of ineligible entities. The monetary penalty on Axis Bank pertains to violations done in FY23. The bank allotted multiple customer identification codes to certain customers instead of a unique customer identification code for each customer and obtained collateral security for agricultural loans up to ₹1.60 lakh in certain cases. Besides, Axis Bank's wholly-owned subsidiary undertook business as a technology service provider, which is a violation of the Banking Regulation Act.

BJP on Tuesday reacted strongly to Congress leader Rahul Gandhi's remarks regarding the Sikh community facing trouble in India. Union minister Hardeep Puri said Sikhs have never felt safer in India as they feel now. «He (Rahul Gandhi) says that Sikhs are facing troubles in wearing 'Turban' and 'Kada' in the country.

With this, the party has announced candidates for 87 out of 90 assembly seats. It is yet to announce candidates for Sirsa, Mahendergarh and NIT Faridabad.

S Jaishankar on Tuesday said India is open to pursuing business with China, but the question is in what sector and under what terms. He was speaking in Berlin at Germany's annual ambassadors' conference. Jaishankar stated that China was the world's second-largest economy and a premium manufacturer.

IndiGo has paid the reduced penalty of Rs 70 lakh imposed by regulator BCAS on the airline in connection with the incident of passengers having food on the Mumbai airport tarmac in January this year. The Bureau of Civil Aviation Security (BCAS) had imposed a fine of Rs 1.2 crore on the airline on January 18 for the incident that happened on January 14. In a filing to the BSE on Tuesday, IndiGo said that pursuant to an appeal, BCAS reduced the penalty to Rs 70 lakh through an order dated August 12. «There is a delay in submission of the disclosure within prescribed timelines since the company was in the process of reviewing the legal remedies available against the order. Post review, the Company has paid the revised/reduced penalty amount to BCAS on September 10, 2024,» the filing said.

This issuance comes at a time when banks have been aggressively mobilising capital through debt markets this year as credit growth remains much higher than deposit growth. Banks and financial institutions raise money through infrastructure bonds to finance long-term infrastructure projects. Indian Bank plans to raise funds for refinancing purposes.

Indian Air Force is cooperating with the local police in Jammu and Kashmir's Budgam in probing a complaint of alleged sexual assault that was lodged by a woman flying officer against a Wing Commander, an IAF official said. A first information report or FIR has reportedly been filed in the case by the local police after the women officer of the IAF filed the complaint against the senior officer.

The NSE Nifty index closed 104.7 points up at 25041.1, while BSE Sensex ended up 361.75 points at 81921.29.

Narendra Modi on Tuesday chaired the first governing board meeting of the newly formed Anusandhan National Research Foundation (ANRF), officials said. The meeting of the foundation, which will act as an apex body to provide high-level strategic direction towards scientific research in accordance with the recommendations of the National Education Policy (NEP), was attended by Education Minister Dharmendra Pradhan.

Guntur, Andhra Pradesh, where locals seized illicit liquor bottles while police were destroying them. The event took place at a dumping yard on Etukuru Road, with authorities present. They were trying to dispose of illegal alcohol worth Rs 50 lakh, confiscated in different cases.

Supreme Court. According to an order of the Appointments Committee of Cabinet issued on Monday, the ASGs have been appointed for a period of three years.

On the BSE, Samrat Forgings(down 10.94 per cent), Kansal Fibres(down 9.99 per cent), India Lease Dev(down 9.98 per cent), Amco India(down 9.35 per cent) and Adroit Infotech (down 8.02 per cent) were among the stocks that plunged over 5 per cent during the session.

Adani Green Energy on Monday said it has fully repaid its $750 million 'Holdco Notes' or bonds used to fund its expansion over the past three years, using its cash reserves and a fully funded redemption reserve account, avoiding the need for refinancing. In January, Adani Green had set aside funds to redeem the 4.38% Holdco Notes due on September 8, the company said in a statement.

Azure Power, backed by CDPQ and OMERS, has said it would prepay $310 million of green bonds maturing in December 2024 through a loan from state-run REC. Azure Power had issued this bond, a total of $350 million, 5.65% senior notes in 2019. The instruments were maturing in December 2024. Now, the company will prepay $310 million of the outstanding with a loan of ₹2,400 crore arranged by REC.

Congress Committee (AICC) on Monday demanded the dismissal of Manipur chief minister N Biren Singh in the wake of resumption of violence in the state, even as it accused the Centre of adopting a hands-off approach in dealing with the situation.