Banks in several states, including Karnataka, Odisha, Chandigarh, and Himachal Pradesh, are closed today to observe the important cultural events of Maharshi Valmiki Jayanti and Kumar Purnima. While the holidays are not listed in the official RBI calendar, the Uttar Pradesh government has also declared a holiday for Valmiki Jayanti. This adds to the already busy month of October with 21 total bank holidays, including national and regional festivals and the usual Saturdays and Sundays.
Category: Business Title: Sensex and Nifty Extend Winning Streak, Tech Stocks Rally Indian equities opened higher on Tuesday, with the Sensex and Nifty both recording gains in early trade. Sector-wise, there was a positive trend in metal and IT stocks. Meanwhile, global markets showed mixed results, with the Nikkei hitting a record high. On Wall Street, the S&P 500 and Nasdaq closed with gains, while the Dow Jones dipped.
As the Supreme Court gears up to hear Vodafone Idea's petition for quashing additional AGR demands, the telecom giant's share price declines by over 4%. The court has emphasized the need for a resolution, given the government's equity stake in the company. Meanwhile, Vodafone Idea has announced the appointment of a new CFO and its recent stock performance shows a mix of volatility and slight gains over different time periods. Stay updated on the latest developments with Vodafone Idea’s AGR case and its impact on the company’s share price.
As Indian markets open on Monday, pre-market updates show that benchmark indices are expected to take a hit due to mixed global cues and foreign investors selling off $2.7 billion worth of Indian equities in September. Japan's Nikkei 225 reached a record high, while markets in China and South Korea remained closed for holidays. In the US, the looming government shutdown and delay in funding deal negotiations continue to weigh on sentiment.
The state government of Andhra Pradesh, led by Chief Minister N Chandrababu Naidu, launched the Auto Driver Sevalo scheme to provide financial aid to registered auto drivers. Making a grand gesture at the launch event, Naidu, along with Deputy Chief Minister Pawan Kalyan and Education Minister Nara Lokesh, travelled 14 kilometres in an auto-rickshaw. The scheme falls under the broader Sevalo Pathakam initiative, which aims to support different sections of society affected by economic disparities. The event was attended by enthusiastic auto drivers' unions and supporters of the ruling alliance.
Bada Business, headed by renowned entrepreneur Dr. Vivek Bindra, has announced the launch of "Idea to IPO" - a groundbreaking program to revolutionize the way small and medium enterprises (SMEs) access growth funding and public credibility. This initiative offers a range of benefits, including lower entry barriers, improved debt access, and an easier roadmap for mainboard migration. The launch also coincides with the resolution of personal and professional misunderstandings for Dr. Bindra, positioning him to inspire and support Indian SMEs on their path to global expansion.
During his visit to Colombia, Lok Sabha Leader of Opposition Rahul Gandhi praises the success of Indian two-wheeler companies Bajaj, Hero, and TVS in the country, highlighting their achievements as an example of merit-based innovation instead of political patronage. This success also underscores India’s potential as a global hub for technologically advanced and cost-effective mobility solutions. Gandhi also takes a veiled dig at industrial groups in India that have allegedly benefited from political ties and criticizes the government-favored industrialist Adani. Apart from the automobile sector, Indian companies also have a strong presence in pharmaceuticals, IT, agrochemicals, and other industries in Colombia.
Mira Kapoor, a strong advocate of healthy and conscious choices, recently invested in Zama Organics, an organic grocery start-up founded by Shriya Naheta Wadhwa. The collaboration aligns with Mira's values and Zama's mission to provide trusted choices of healthy and organic products directly from farmers and artisans. With plans to expand their operations and digital presence, Zama Organics hopes to spread the message of sustainable and clean eating.
India's Border Roads Organisation (BRO) sets a new world record by constructing the highest motorable road at 19,400 feet, surpassing its earlier record at Umling La. This new route in Ladakh's Leh district is strategically vital, improving military logistics and promoting development in the region. It also showcases BRO's engineering excellence and commitment in constructing roads in some of the world's toughest terrains, including the Himalayas and neighboring countries.
In a ruling with implications for landlord-tenant disputes, the Bombay High Court has restored a trial court's decree in favour of the legal heirs of a deceased landlord who had sought eviction of his tenant for bona fide use of a property. The High Court held that the landlord's own assessment of his requirement should be given primacy, and that the appellate court had erred in relying on subsequent events to deny the eviction. The ruling clarifies that a landlord's need does not automatically cease upon their death or the marriage of their family members.