30/09/2024
- The monsoons are on time. It has reached Maharashtra and may soon reach Gujarat in the next few days. Monsoons on time and expected to be above normal. That will drive rural economy.
- The markets will be eagerly waiting for the contours of the new cabinet and the July full-fledged budget for the year. That will certainly guide the economy and the markets.
- RBI has hiked 24-25 GDP forecast at 7.2%.
- Adani, ICICI launch co-branded credit card.
- SEBI might further speed up the IPO clearances, which now is down to about 90 days and could go down further.
- Canara Bank seeks regulatory nod to convert software subsidiary into NBFC.
- NHAI has announced an average about 5% increase in toll rates across the country beginning Monday.
- With a GDP growth of 8.2% in 23-24, India can aim to grow at 8-9% in 2024-25. Possible triggers could be additional spending on infrastructure, commissioning of various PLI projects, cut in CRR and interest rates driving loan based spending on housing, cars etc, more affordable housing projects, increased tourism, business tourism and medical tourism.
- Tata Motors on Tuesday said its board has approved to set up a wholly owned subsidiary to house commercial vehicles business. The company has proposed the name of the new unit as TML Commercial Vehicles Limited. So, two companies will be carved out. One will be Commercial vehicles and another one will be passenger vehicles, electric vehicles, JLR etc.
- RIL on Tuesday said its wholly owned subsidiaries have completed the registration of a sub-lease deed for 3750 acres of land in Maharashtra, where it plans to develop a global economic hub.
- Byju’s lenders start bankruptcy proceedings against its US assets.
- SBI MF top Rs 10 trillion in assets, first fund house to achieve this milestone.
- Markets regulator SEBI on Wednesday relaxed timelines for disclosure of material changes by Foreign Portfolio Investors (FPIs). The regulator categorised material changes notified by FPIs into two groups. Type I group includes changes that require FPIs to seek fresh registration, or which affect any privileges or exemptions available to such foreign investors and Type II includes all other material changes. In its circular, SEBI said that FPIs are required to report Type I changes within seven working days and provide supporting documents within 30 days and Type II changes require notification and supporting documents within 30 days.
- ECB jumps ahead of US Fed and cuts interest rates by 25 bps for the first time since 2019.
- Voter turnout dropped about 1.61% from 67.4% in 2019 to 65.79% in 2024.
- ITC shareholders approve demerger of hotels business with about 99.6% majority. Hotels business will get listed soon.
- Air passenger traffic grows 5.1% in May.