Monday, October 02, 2023

Government approves extension in central deputation tenure of UIDAI CEO Amit Agrawal

NEW DELHI:The Appointments Committee of the Cabinet (ACC) has approved extension in central deputation tenure of Amit Agrawal as the CEO of Unique Identification Authority of India (UIDAI) for a period of one year beyond November 2, 2023 i.e. up to November 2, 2024 or until further orders, whichever is earlier.

Adani commissions first 400 KV grid in Mumbai, to boost power supply by 1000 MW

MUMBAI: In order to address the growing needs of power for the country’s commercial capital, the Adani Energy Solutions Ltd (AESL) has commissioned Mumbai’s first 400-KV grid line, an official said here on Monday.

Digital ID verification checks to surpass 70 bn globally in 2024

NEW DELHI: The number of digital identity verification checks will surpass 70 billion in 2024, growing 16 per cent on the previous year’s number of 61 billion, a new report showed on Monday.

RBI-MPC’s decision on repo rate may be unanimous but not on the stance: Economists

CHENNAI: While there will be unanimity on not changing the repo rate from the current 6.5 per cent, there will be divergence within the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) as to the stance, said senior economists.

Cars, SUVs turn costlier amid rising demand in festive season

NEW DELHI: Consumers will have to shell out more as automobile manufacturers have hiked prices of hot-selling cars and SUVs from October 1 amid rising demand in the festive season.

Samsung likely to narrow chip losses in Q3 due to production cuts

Seoul:Samsung Electronics is expected to reduce its chip deficit in the third quarter, thanks largely to a continued cut in its chip output, according to analysts.

AI-generated ripoffs of original books being sold on Amazon, authors cry

LONDON: Several authors have been left shocked after seeing artificial intelligence (AI)-generated ripoffs of their books being sold on e-commerce giant Amazon.

FPIs turned sustained sellers in Sep having sold stocks for Rs 26,689 cr

NEW DELHI: September has witnessed a clear trend reversal and after sustained buying in the previous three months, the FPIs have turned sustained sellers in the month having sold stocks for Rs 26,689 crore in the cash market, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Air India acquired three brand new aircraft this week, says CEO Wilson

NEW DELHI: Air India CEO Campbell Wilson on Friday said that the airline had, this week, acquired three brand new aircraft including first Airbus A350, and two Boeing 737MAX.

Nifty faces profit booking after strong start

NEW DELHI: On the first day of the October series, Indian markets started strong and continued to build on the gains through the session, barring last 45 minutes of trade, where Nifty witnessed minor profit booking and fell more than 100 points from day’s high of 19726, says Devarsh Vakil - Deputy Head Retail Research, HDFC Securities.

RBI to maintain rates, real estate sector to be disappointed

CHENNAI: Only an unforeseen and sustained increase in inflation may compel the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) to revise upwards the repo rate, said the Chief Economist at Anand Rathi Shares and Stock Brokers.

Nifty falls 165 points on selling pressure as oil prices surge

NEW DELHI: Nifty opened flat but soon witnessed selling pressure on account of surge in oil prices and weak global cues.

ICICI Lombard stock reacts after company receives GST show cause notice of Rs 1728 crore

NEW DELHI: After receiving warning from Directorate General of GST Intelligence (DGGI) for failing to pay tax of around Rs 1,728 crore for a period of five years beginning in July 2017 and ending in March 2022, ICICI Lombard General Insurance finished the day 1.7 per cent down, says Vaibhav Vidwani, Research Analyst, Bonanza Portfolio.

CDIL unveils new EV semiconductor packaging line in India, to make 600 mn units annually

NEW DELHI: In a fillip to India’s semiconductor journey, Continental Device India Private Limited (CDIL) on Thursday became the first Indian company to start production of Silicon Carbide devices for electric vehicles (EVs). With the new surface mount semiconductor packaging line, CDIL’s total capacity at the facility will increase to 600 million units annually.

India sees marked improvement in Global Terrorism Index: FICCI CASCADE report

NEW DELHI:Sanjay Kumar Agarwal, Chairman, Central Board of Indirect Taxes and Customs (CBIC) said on Thursday that as India is rising as a global force in international trade and interconnectedness have transcended geographical boundaries, the challenge of illicit trade looms larger than ever before.

Money laundering via illicit trade hovering at 5% of India’s GDP: FICCI study 

NEW DELHI: India Inc. is worried over the staggering growth in illicit trade and views it as a threat to the economy and security of the country that needs to be tackled on a war footing.

Nifty rebounds after Nomura upgrade

NEW DELHI:Domestic equities rebounded into positive territory on Wednesday after Nomura upgraded its rating on the Indian Markets to ‘Overweight’, says Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Hardeep Puri launches hydrogen fuel cell powered bus, says domestic demand to increase by 4 times

NEW DELHI: Hydrogen is deemed as the fuel for future with immense potential in helping India meet it’s decarbonisation targets and its global demand for hydrogen is expected to increase by four to seven times to 500-800 million tonnes by 2050, Union Petroleum Minister Hardeep Singh Puri said on Monday.

Burman family announces open offer for Religare Enterprises

NEW DELHI: Entities belonging to the Burman family on Monday announced an open offer to the public shareholders of Religare Enterprises Limited (REL) to acquire upto 26 per cent of the expanded voting share capital of REL.

India is the most expensive stock market in the world

NEW DELHI: Even after the recent correction, Nifty is trading around 20 times FY 24 earnings, making India the most expensive market in the world, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Teen-focused neo-banking platform Akudo to shut down operations

NEW DELHI: Leading US-based investment firm Y Combinator-backed Akudo, a teenagers-focused neo-banking platform, is shutting down its core UPI and card business, media report said.

Pakistan's economy on edge of precipice, warns World Bank

Islamabad: Pakistan is in its tipping point crisis where it should decide to remain a laggard with 40 per cent population living below the poverty line under elite capture and policy decisions driven by strong vested interests of military, political and business leaders or change course to take off for a brighter future, local media reported.

itel S23+ with 3D curved AMOLED display under Rs 15K expected to launch on Sep 26 in India

NEW DELHI: The anticipation surrounding itel's newest masterpiece, the S23+, has reached a fever pitch, and for good reason. itel Mobile India is expected to launch the S23+, India’s first smartphone with a 3D curved AMOLED display priced under Rs 15,000 on September 26 in the country.

FIIs selling to the tune of Rs 16,934 cr in Sep

NEW DELHI: The Fed's hawkish pause message has created a global risk-averse sentiment in global equity markets, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Nifty down 232 points as volumes on NSE close to highest in recent times

MUMBAI: Nifty opened lower with a gap on Wednesday and fell through the day to end lower for the second session, said Deepak Jasani, Head of Retail Research at HDFC Securities.

SpiceJet flight makes precautionary landing at Kolkata Airport

KOLKATA: A SpiceJet aircraft made a precautionary landing at the Netaji Subhash Chandra Bose International Airport here on Wednesday, after a crack was detected on a window glass of the flight.

 No evidence Huawei can produce advanced phone chips at scale: US

San Francisco:US Commerce Secretary Gina Raimondo has said that there is no evidence to suggest that Chinese conglomerate Huawei can produce smartphones with advanced semiconductors at scale, the media reported.

Sensex cracks more than 600 points due to multiple headwinds

NEW DELHI: There are too many challenges for the market in the near-term. Brent crude at $94, the dollar index above 105, the two-year US bond yield at 5.09 per cent and the INR at record lows against the dollar are strong headwinds, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

On Vihaan 1st anniversary, Air India CEO lists plans, pilot safety & efficiency measures

NEW DELHI: Celebrating Air India's Vihaan first anniversary, CEO Campbell Wilson on Friday highlighted its various accomplishments, future objectives, and specifically discussed measures taken to combat pilot fatigue which is a significant contributor to flight disruptions.

MP govt to provide LPG cylinder at Rs 450 under Ujjwala and Ladli Behna schemes

BHOPAL: The LPG gas connection holders registered under the Ujjwala Yojana and Ladli Behna Yojana in the poll-bound Madhya Pradesh will be entitled to get a cylinder for Rs 450.

SAP Labs India to double its AI talent base by 2024

BENGALURU: SAP Labs India on Thursday said it will double its artificial intelligence (AI) talent base in the country by 2024, to infuse its portfolio with AI capabilities that meet the demand of an evolving business landscape.

VFS Global renews India’s visa contract for Sweden

NEW DELHI: The Swedish Ministry of Justice has awarded VFS Global the global tender to provide visa services in 37 countries, including India.

AWS partners ISRO, IN-SPACe to boost space-tech innovations in India

NEW DELHI: Amazon Web Services (AWS) India on Wednesday said it has signed a strategic MoU with the Indian Space Research Organisation (ISRO) and Indian National Space Promotion and Authorization Centre (IN-SPACe) to support space-tech innovations through cloud computing.

Mutual funds increase weightage in technology, metals, consumer durables sectors

NEW DELHI: In August, mutual funds showed an interest in technology, metals, consumer durables, and chemicals leading to a month on month rise in their weights, according to a report by Motilal Oswal Financial Services.

Nasscom appoints SAP executive Sindhu Gangadharan as Vice Chairperson

NEW DELHI: IT industry's apex body Nasscom on Tuesday announced the appointment of Sindhu Gangadharan, SVP and MD, SAP Labs India and Head, SAP User Enablement, as Vice Chairperson.

UP International Trade Show will display state's potential

LUCKNOW: More than 2,000 producers from Uttar Pradesh will showcase their products in the UP International Trade Show 2023, scheduled to be organised in Greater Noida from September 21 to 25.

Indicators skewed towards possible correction for small cap stocks

NEW DELHI: August saw continued outperformance of the small/midcap space over large caps while the small cap indices have rebounded more than 40 per cent since the March bottom, and tactical indicators are skewed towards a possible correction, Bandhan Mutual Fund said in a report.

Nifty ended its five-month winning streak in August

NEW DELHI: Nifty ended its five-month winning streak in August'23. After scaling new highs in July, the benchmark saw some profit booking and consolidation in August, says a report by Motilal Oswal Financial Services.

 Global 5G mobile subscriptions reach 1.3 bn, India adds most overall users

NEW DELHI: Global 5G subscriptions grew by 175 million in the second quarter (Q2) while India accounted for the most net addition of overall mobile subscriptions with over seven million new users in the period, a new report showed on Tuesday.

Selective banning of OTTs to create regulatory uncertainty in India: Consumer groups

NEW DELHI: Raising their concerns over the proposed regulation by the Telecom Regulatory Authority of India (TRAI) to selectively ban OTT apps in the event of a law and order situation, at least 11 consumer groups on Monday said the proposal would lead to overregulation and would create regulatory uncertainty in the domestic market.

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