HYDERABAD NEWS TODAY
India's economic growth masks deepening income inequality & sectoral disparities
The Indian economy is experiencing robust GDP growth, macroeconomic stability, and significant foreign capital inflows. However, there is a stark disparity in growth rates between the top 20% and the rest of the population. Despite a GDP growth rate of 8% for FY24, domestic consumption growth remains sluggish at 4%, highlighting income inequality as the wealthiest 20% accumulate 92% of the country's savings.
Mumbai rains: IMD issues orange alert after monsoon rains flood India's financial capital
An 'orange' alert for heavy to very heavy rainfall has been issued in Mumbai by the India Meteorological Department, with a 'Yellow' alert for heavy rain tomorrow. Heavy rains inundated Mumbai on Monday, causing flooding on roads and railway tracks. More than 300 mm of rain fell in six hours, leading to waterlogged streets and disruption of local train services. The Mumbai airport also faced runway closures and flight diversions due to heavy showers and low visibility.
Mumbai Rains: Flights issue advisory, refund instructions
Mumbai Rains: Mumbai experienced heavy rains early Monday, causing significant traffic congestion and slow vehicle movement at Mumbai airport. IndiGo and Vistara issued advisories to passengers, urging them to allow extra travel time due to weather conditions. Vistara informed customers of expected delays en route to the airport, while IndiGo mentioned that flights to and from Mumbai were affected by the rains, offering options for alternate flights or full refunds.
India vs Zimbabwe T20 Live Streaming: When and where to watch today's match? Here are all details
Ind vs Zim Live Streaming: India's T20 World Cup campaign is set to begin with a five-match T20I series against Zimbabwe in Harare. Shubman Gill, 24, will lead India with young stars like Riyan Parag, Abhishek Sharma, and Rinku Singh. India is the stronger team against Zimbabwe in men's T20 internationals, having won six of the eight encounters. Abhishek Sharma, who scored 484 runs in 16 matches at a strike-rate of 204.22, will open with him in the series.
PVR INOX shares rally 6% after addition of new screens in Hyderabad
PVR INOX unveiled a new cinema at Gachibowli, providing a premium movie experience at Prism Mall with 4K projection and Dolby ATMOS sound.
UltraTech to buy 23% stake in India Cements for Rs 1,885 crore
UltraTech Cement approved acquiring a 23% stake in India Cements for Rs 1,885 crore at Rs 267 per share, describing it as a financial investment. The deal, which has been described as a "financial investment" by the Aditya Birla Group company, would be done in cash payment. UltraTech's stock surged 6% to Rs 11,811, and India Cements rose 12.5% to Rs 295.75 on the news.
Stocks in news: L&T Finance, Ambuja Cement, Vodafone Idea, Puravankara, Wipro
Equity indices hit record levels on Thursday after lower-than-expected inflation hints at RBI interest rate cut. L&T Finance, Ambuja Cement, Vodafone Idea, Puravankara, NITCO, Wipro, Nalco, Suven Pharma, and MosChip Technology make significant moves. Adani Group-owned Ambuja Cement acquires Penna Cement at Rs 10,422 crore. Morgan Stanley buys 3.13 crore equity shares in L&T Finance.
Stocks in news: ZEE, M&M Financial, Dr Reddy's, Wipro, Biocon
Domestic markets rally on exit polls predicting Modi government's massive mandate. ZEE, M&M Financial, Dr Reddy's, Wipro, Biocon in focus. ZEE to discuss fundraising. M&M Financial reports increased disbursements. Dr Reddy's opens biologics facility in Hyderabad. ICICI Bank partners with Adani One for co-branded credit cards with airport-linked benefits. RVNL awarded Rs 440 crore project by South Central Railway.
Hyderabad to get pre-monsoon rains this week. Check IMD's weather forecast for next 7 days
Hyderabad rains trended on social media with pre-monsoon showers providing relief from the heat. Monsoon is expected to reach Telangana in the second week of June. The India Meteorological Department forecasts favorable conditions for the Southwest Monsoon's progression into additional regions.
Can BJP's Madhavi Latha defeat Asaduddin Owaisi in a big Lok Sabha election 2024 upset? Exit poll results offer a clue
Madhavi Latha has gained social media attention due to exit polls indicating a close race with four-time MP Asaduddin Owaisi in Hyderabad. Exit polls forecast a tight contest between Congress and BJP in Telangana, with BRS facing significant losses. Prime Minister Narendra Modi recently praised Latha for her articulate interview, boosting her campaign. Besides being a businesswoman, she is a Bharatnatyam dancer and former NCC cadet, known for advocating against triple talaq.
Telangana Exit Polls 2024 Live Updates: BJP to make gains in Telangana with 7-9 seats, according to ABP-C Voter exit poll
Exit Polls 2024 Telangana News Live: One of the BJP's prominent faces, Madhavi Latha, saw a case registered against her for allegedly checking the identity of burqa-clad women by asking them to show their faces. Latha claimed that rigging occurred in Riyasat Nagar, alleging police inaction. "Rigging is going on inside," she asserted in a video posted by BJP Telangana. Latha is fighting AIMIM supremo Owaisi in the Hyderabad consituency.
Amit Shah's doctored video: Delhi Police summons Telangana CM Revanth Reddy
The Delhi Police has summoned Telangana Chief Minister Revanth Reddy for questioning on May 1 regarding a doctored video of Union Home Minister Amit Shah circulating on social media. The Congress has warned of similar actions against BJP leaders in Congress-ruled states, while the BJP has filed a complaint with the Election Commission, alleging that the Congress circulated the "deep fake and morphed" video of Shah to disrupt the election process.
Shubman Gill to play 100th IPL game as Gujarat locks horns with Delhi today
As he takes the field for Gujarat Titans (GT) during the Indian Premier League (IPL) clash against Delhi Capitals (DC) at the Arun Jaitley Stadium on Wednesday, skipper Shubman Gill will be featuring in the 100th match of his career in the cash-rich league.
Kerala man surprises parents with UPSC rank
When the 2023 civil services exam results were announced on Tuesday, it took a family by surprise. Ramkumar, a retired school principal from a port city, and his family were shocked to learn that their son Siddharth had secured the fourth rank. They had no idea he had even taken the test or interview until they saw the news on TV.
Investing in smallcaps in volatile times: Just do a bit of hard work and add a pinch of patience
In a period where small-cap stocks underperformed significantly, leading to a situation where large investors were calculating their losses in their small-cap holdings, there would be a group of steadfast enthusiasts who continue to see potential in small caps. Investing in these stocks, even amidst turmoil, can be sensible for those prepared to maintain their investment for three to five years. However, it's crucial to recognize the distinction between high-quality and poor-quality businesses across the small, mid, and large-cap spectrums, as well as the difference between the intrinsic value of a stock and the overall value of the company. Certain niche small businesses may still generate significant returns over time if they are held long enough. On the other hand, if one's approach to small-cap investments is merely based on the absolute value of a stock with hopes of a tenfold increase, then it's a misconception. Stock market investing, whether in small, mid, or large caps, should not be driven by unrealistic expectations; otherwise, it leads to nothing but undue stress, rather than substantial returns.
Bharat Dynamics announces 2:1 stock split, interim dividend of Rs 8.85/share
The Board, at its meeting earlier on Thursday, also approved the appointment of Gayatri Prasad, General Manager (Finance) as the Chief Financial Officer of the company, consequent to a cessation of Srinivasulu as Director (Finance) and CFO on January 31.
Stocks in news: Devyani International, Eureka Forbes, Home First Finance, Brigade Ent, LTIMindtree
Yum Restaurants has sold its entire stake in Devyani International, which operates KFC and Pizza Hut, through an open market transaction on Wednesday.
Ram Mandir Inauguration bank holiday: Are all banks closed today?
Ram Mandir Inauguration bank holiday: The Centre and PSU banks have both declared a half-day for all of their offices. But are private banks open on January 22, 2024 i.e., today?
Formula E could return to India as soon as 2025: co-founder Alberto Longo
Formula E, the all-electric street racing series, is eager to return to India in 2025 despite the cancellation of the Hyderabad E-Prix. Co-founder Alberto Longo confirmed that discussions with other cities in India to host a race will begin soon. In an interview with PTI ahead of the season-opening Mexico E-Prix, Longo stated, "We are working to coming to India in the future, we will be starting conversations with different cities in India soon. But we will be looking to race in India in the future, hopefully as soon as 2025."
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