The good outcome of the G20 meet and India’s emergence as a dominant big player will force the UN to include India in all the decision making process. There is every chance that either China will be forced to toe the line or there could be change in the Veto power of the permanent UN members. The veto power of the UN Permanent members will have to be done away with, so that India can be a permanent member of the UN. High time that some changes need to be done.
The FO data shows higher Put build ups, which suggest that the markets are more than fully hedged. So, chances of markets moving up higher are more.
The markets are strong despite continuous FII selling since last many days and months. So, we can absorb foreign outflows so easily. India is going to progress at a rate, not seen before. FIIs may have to come back as there are no big investment alternatives in the World.
RBI on Friday announced that it will discontinue incremental ICRR in a phased manner. ICRR will be phased out 25% each on Sept 9 and Sept 23 while the rest will be released on October 7.
Reliance Industries has begun exploring a foray into semiconductor manufacturing, a move that could address its supply chain needs and cater to growing chip demand in India.
After Reliance, Tata Group set to announce AI partnership with Nvidia.
India is studying possible responses to a potential Chinese invasion of Taiwan following discreet inquiries from the US on how the South Asian nation could contribute in the event of a war.
India has restricted the sale of poor quality aluminium, copper and nickel from December 2023. This is to discourage sub quality imports.
Russia’s share in India’s crude oil imports fell to 34% in August from 42% in July. So, with crude oil prices declining, Russian market share goes down. However, since crude oil prices are up once again, we could see gain in Russian oil imports again.
Centre approves around 30 rail projects for Telangana.
NLC proposes a capex of Rs 82174 crores for mining and power generation capacity expansion by 2030.
British Government commits $629 million funding for Tata Steel’s Port Talbot unit.
India’s services PMI in August was at 60.1, slightly lower than in July.
Tata Consumer is trying to buy about 51% stake in Haldiram at a total company valuation of around $ 10 billion. Really big one.
Foxconn seeks to work with STMicro to build semiconductor factory in India.
The consumption of diesel rose 5% while that of Petrol increased 3% in August.