MAKE IN INDIA 2 0
India's defence production skyrockets to Rs 1.27 lakh crore in 2023-24, thanks to 'Make in India' success
Defence Minister Rajnath Singh announced that India achieved its highest-ever growth in defence production value for 2023-24, highlighting significant milestones for the Make in India initiative. He reiterated the government's commitment to fostering a favorable environment to establish India as a key global defence manufacturing hub.
India's auto retail sales register 0.73% annual growth in June on the back of prolonged heatwave
India's auto retail sales saw a 0.73 per cent annual growth in June, largely due to delayed monsoons in certain regions. The two-wheeler and three-wheeler segments saw positive YoY growth of 4.66 per cent and 5.1%, respectively. However, passenger vehicles, tractors, and commercial vehicles sales declined 6.7%, 28.3%, and 4.7%, respectively.
LIC raises stake in IDFC First Bank by 0.2% to 2.68% via private placement
IDFC First Bank has underperformed in the market over the past year, gaining only 3% and declining 8% year-to-date. The stock is currently trading 24% below its 52-week high of Rs 100.74.
What is SEBEX 2, India's new explosive that is one of the most powerful bomb?
India has introduced SEBEX 2, a high-performance explosive with a TNT equivalence of 2.01. Developed under the Make in India initiative by Economic Explosives Limited, SEBEX 2 enhances the effectiveness of various munitions without increasing weight. Certified by the Indian Navy, SEBEX 2, alongside SITBEX 1 and SIMEX 4, demonstrates India's growing capabilities in military technology, offering significant export potential and enhancing global security efforts.
PMAY-U 2.0 to build 1 crore houses in urban areas will be launched soon, says ministry officials
The Union Cabinet of Modi 3.0 government, in its first meeting held on June 10 under the chairmanship of Prime Minister Narendra Modi, approved government assistance for the construction of three crore houses under the PMAY.
AIF & PMS Conclave 2.0: Sunil Singhania on 4 'Ds' that make India a better choice for equity investing
In the post-pandemic era, while global discussions centered around recession and job losses, India stood out with its focus on growth. Highlighting India's democratic foundation as its core strength, the expert emphasized how the recent election results were accepted by all. This exemplifies the power and resilience of India's democratic system.
AIF & PMS Conclave 2.0: No permanent winners; past performance not a guarantee for future returns: Aashish Somaiyaa of WhiteOak MF
According to his analysis, the WhiteOak CEO advised against investing in the top-performing funds of the past three years. He highlighted that the best-performing fund from 2009-2011 fell to rank 162 in 2012-2014, while the second-best dropped to 40, and the third-best to 38, illustrating the volatility and unpredictability of fund performance over time.
Social Justice Ministry's 100-day plan: Accessible India 2.0, drugs-free India
Social Justice and Empowerment Minister Dr Virendra Kumar outlined the 100-day plan, emphasizing initiatives like Accessible India 2.0 and expanding the Nasha Mukt Bharat campaign.
Modi 3.0's agenda for Indian Railways: Focus on capacity expansion with new Vande Bharat, Amrit Bharat trains and reduced wait times
The Modi-led NDA government's third term focuses on infrastructure development, with Indian Railways enhancing passenger and cargo capacity. Key areas include increasing capacity, reducing waitlists, introducing new trains like Vande Bharat and Amrit Bharat, and enhancing safety measures. Modernization efforts aim to improve the passenger experience, with initiatives like the new sleeper variant of the Vande Bharat Express. The Integral Coach Factory is tasked with domestically producing bullet trains, reflecting a commitment to 'Make in India' and infrastructure growth
Apple WWDC 2024 AI live stream: Where and how to watch the event online?
Apple's WWDC 2024, starting tonight, will focus on software updates rather than new hardware. Key announcements include iOS 18 with AI features like Smart Recap and improved Siri, watchOS 11 with advanced health features, macOS 15 with AI-driven enhancements, and visionOS 2.0 for AR capabilities. The event will also introduce Apple Intelligence, a new AI system, and updates to apps like Settings, Control Centre, Messages, Photos, and Mail.
SIP, STP or lumpsum? How to invest as Dalal Street recovers from election shocker
Post-election market recovery raises concerns for mutual fund investors on choosing between lumpsum or SIP/STP investments for better returns. Bankbazaar.com CEO Adhil Shetty advises considering market conditions, risk appetite and financial goals for investment decisions in mutual funds.
India VIX cools off 30% to sub-20 levels as market gets back lost ground
India VIX fell below 20 on Wednesday amidst election outcome favoring NDA with a comfortable majority. Modi 2.0 government held its last cabinet meeting amid positive market sentiments.
SBI investors lose Rs 1 lakh crore as PSU bank tanks 13%
SBI shares plunged by 13%, wiping out Rs 1.07 lakh crore from market cap amid a broader sell-off in PSU bank stocks, impacted by lower-than-expected victory margins in the Lok Sabha elections. Expert views remain mixed, with bullishness on private banks.
PSU bank stocks tumble up to 20% as early counting trends lower than exit poll predictions
PSU bank stocks dropped up to 20% on BSE as BJP-led NDA led in early election trends, defying exit polls. Central Bank, Union Bank, Canara Bank, PNB, and others saw significant declines. Analysts favor private banks like ICICI and HDFC amid political uncertainty. Shares of the State Bank of India cracked 19%. Meanwhile, Punjab National Bank, Bank of Baroda, Canara Bank, and Bank of Maharashtra also shed between 17-20%.
Sebi launches saathi 2.0 personal finance app for investors
Sebi introduces 'Saathi 2.0': A mobile app revolutionizing personal finance by simplifying intricate concepts and offering essential tools like financial calculators, KYC procedures, mutual fund insights, stock exchange navigation, and a seamless investor grievance redressal mechanism.
Volkswagen India to offer 6 airbags across all variants Taigun and Virtus models
Volkswagen India announced that all variants of its Taigun and Virtus models, both rated 5-Stars by Global NCAP for safety, will now come equipped with six airbags. This move is part of Volkswagen's ongoing efforts to enhance its product offerings since the launch of its India 2.0 portfolio. The Taigun, a subcompact crossover SUV, debuted in September 2021, while the Virtus, a mid-sized sedan, was introduced in March 2022.
Sebi launches Saa₹thi 2.0 mobile app on personal finance
The updated Saa₹thi app comes with an user-friendly interface. Its comprehensive tools are aimed at simplifying complex financial concepts. It has financial calculators, modules that introduce and explain KYC procedures, mutual funds, ETFs, buying and selling shares on stock exchanges, investor grievances redressal mechanism, and the Online Dispute Resolution platform
Create joint culture: CDS Gen Chauhan to armed forces as govt looks at rolling out theatre commands
Chief of Defence Staff Gen Anil Chauhan emphasized the significance of theatre commands, marking a milestone in India's military preparedness and warfighting capabilities. He urged the armed forces to foster a joint culture and embrace "jointness 2.0", aiming for integrated operations and optimal resource utilization amidst evolving security challenges.
UPI’s rural push; India as software IPO destination
Happy Wednesday! The country’s central bank wants more rural users to log into Unified Payments Interface (UPI). This and more in today’s ETtech Morning Dispatch.
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