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MotoGP in Noida: UP Govt to fund 50% cost for hosting racing event for 3 years
The Uttar Pradesh government will contribute over 50% of the required funds for MotoGP Bharat, the premier motorcycle racing event, starting next year. The event, scheduled for March at the Buddh International Circuit near Greater Noida, requires a total of Rs 150 crore. The state government will contribute Rs 80 crore, facilitated through Invest UP, while the authorities of Noida, Greater Noida, and Yamuna Expressway will each contribute Rs 12.5 crore.
NIT Mizoram achieves impressive placement record for 2023-2024 academic session with 86.7% overall placement
NIT Mizoram posted an 86.7% placement rate for 2023-2024, with the highest salary package at 14.5 LPA and an average over 7 LPA. Over 75 companies, including Adobe, Deloitte, Vedanta, and Mahindra & Mahindra, recruited students. Among the students, Shristi Sharma and Nishant Nitin Mishra, who secured four job offers, praised the Training and Placement Office. Internships, part of the curriculum, involved 100% student participation with organizations like SAIL, Indian Railways, and Google, offering stipends between ₹5,000 to ₹20,000 per month.
Samvardhana Motherson raises $350 million via bonds
The bonds were sold by a subsidiary, SMRC Automotive Holdings Netherlands, and are priced at 140 basis points above the five-year US treasury, currently trading at about 4.30%. After taking into account the costs, the bond was priced at a yield of 5.72%.
US has sent Israel thousands of 2,000-pound bombs since Oct. 7
The Biden administration has sent Israel large quantities of munitions, including over 14,000 MK-84 2,000-pound bombs and thousands of Hellfire missiles, since the Gaza war began. These shipments, aimed at replenishing Israel's military supplies, reflect substantial U.S. support despite international calls to limit arms. While one shipment was paused over concerns about its impact in densely populated areas, other deliveries continue. The ongoing conflict has heightened international scrutiny and sparked political debate within the U.S., particularly among young Democrats. The administration maintains sufficient stockpiles and works with industry partners to produce more weapons.
Elon Musk addresses his harsh remarks at Cannes Lions Festival; Here's what he said
Elon Musk clarified his controversial comments on free speech at the Cannes Lions advertising festival, addressing advertiser concerns about content moderation on X. He emphasized the platform's commitment to free speech over censorship, even at the cost of losing advertisers. X CEO Linda Yaccarino supported Musk's stance, highlighting the platform's role in enabling information independence. Musk reiterated the importance of authenticity and free speech, despite occasional personal missteps.
Own midcaps? Do a check & balance exercise to avoid decision of haste: 7 midcaps from different sectors with an upside potential of upto 49%
Every now and then the market goes through phases, where it prefers a certain set of stocks, not based on sector but based on the overall market cap. So, sometimes it is large caps, at other mid-caps. Now this partially happens, due to the flows which are coming to markets. For example, if more flows are coming to mid-cap or multicap schemes there is bound to be out performance in the mid-cap space. Now what it does is that it tends to create a sudden surge in mid-cap. Similarly when there is an outflow like the kind of one which we saw in March this year, midcap stocks tend to decline sharply. Essentially, it is the flows which impact the broader matrix of how midcaps behave. So there are phases not owning a midcap stocks appeared to sin and then there phase, where owning them appears to be sin. But if one focuses on the underlying business and some critical parameters, there is a possibility of getting rid of these phases of anxiety which keep coming to the street and create long term wealth.
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OPEC+ extends major oil production cuts until 2025 to stabilise market
OPEC+ has announced an extension of its substantial oil production cuts into 2025, aiming to stabilise the market amid sluggish demand growth, elevated interest rates, and increasing U.S. oil production. The group will maintain its current reduction of 5.86 million barrels per day (bpd), with specific cuts being extended and gradually phased out.
Adani Ports signs 30-year concession to operate container terminal at Dar es Salaam Port in Tanzania
Adani Ports and Special Economic Zone on Friday said its wholly owned subsidiary Adani International Ports Holdings Pte Ltd (AIPH) has signed a 30-year concession agreement with the Tanzania Ports Authority to operate and manage Container Terminal 2 at the Dar es Salaam Port in Tanzania. The Dar es Salaam Port is a gateway port with a well-connected network of roadways and railways, Adani Ports and Special Economic Zone (APSEZ) said in a statement.
Ind-Ra upgrades Adani Green Energy's rating, outlook stable
The ratings also reflect Ind-Ra's expectation of favourable operational to under-construction book ratio, given the operational capacity of nearly 10.9 GW, and an increase in annual capacity addition targets to 5GW.
Samvardhana Motherson's stock target rise up to Rs 180. Should you buy, sell or hold?
Brokerages raised target prices for auto components maker Samvardhana Motherson International to Rs 180 as it reported a two-fold jump in net profit to Rs 1,444 crore for Q4FY24. Shares traded 1% higher on BSE at Rs 148.
Airtel's $100b market capitalisation reflects a stable economy under a solid leader: Sunil Mittal
Sunil Bharti Mittal, Chairman of Bharti Enterprises, emphasized that Airtel's resurgence post the challenges posed by Reliance Jio's entry and the AGR ruling showcased India's stable economy and supportive policies under strong leadership. Reflecting on Airtel's path to the $100-billion milestone, Mittal highlighted the company's resilience amidst industry disruptions. He noted that Airtel's achievement as the first-generation Indian company to reach this milestone was significant, especially considering the competitive landscape.
India seen to emerge as an economic superpower in impending problem-ridden global financial landscape
Global recession risks have diminished, but inflation concerns threaten financial stability. The IMF, World Bank, and rating agencies forecast a slowdown in global growth, citing Middle East conflicts, financial stress, persistent inflation, and reduced international trade as key risks. The IMF's Global Debt Monitor reveals global debt at $235 trillion, or 238% of global GDP, raising fears of a debt crisis. Fiscal prudence may suffer as many nations face elections this year.
More aid getting from US pier to people in Gaza, officials say, after troubled launch
A new U.S. pier project in Gaza is aiding Palestinians, but challenges persist. The pier, intended to bring food and supplies, faced initial turmoil with aid trucks being overrun. After a brief suspension, alternate routes were chosen for safety. While the pier contributed 27 trucks of aid, Gaza needs 600 daily to avert famine. Israeli operations in Rafah hinder aid flow, emphasizing the need for open land crossings alongside the pier's efforts to help 2.3 million Palestinians.
FY24 milestone year for Tata Consumer Products: N Chandrasekaran
Tata Consumer Products, led by N. Chandrasekaran, highlights a milestone year in its 2023-24 annual report. Completing the amalgamation of Tata Coffee, integrating brands like Tata Soulfull and NourishCo, and acquisitions like Capital Foods and Organic India, signal a transformative phase. Revenue growth, expanded distribution, and increased market capitalization underscored its success.
South Korea could be the next big study abroad destination
South Korea's popularity in India is growing, driven by its diverse cultural appeal and increasing interest from Indian students. Scholarships from the South Korean government and universities attract international students. The country is becoming a favorable destination for businesses due to regulatory advantages.
Sebi mulls facilitating MFs to invest in overseas funds with exposure to Indian securities
The Sebi caveat is such overseas funds should not be more than 20% of their net assets. The move would help keep Indian fund of funds (FoFs) true to their label, coupled with cost effectiveness, for investors.
Fusion MicroFinance to raise $25 mn from DFC
Fusion MicroFinance is raising $25 million from the US International Development Finance Corporation (DFC) for growth capital, following a $20 million loan facility. The micro loan lender has already received $20 million from DFC. Fusion, founded in 2010, has assets under management of Rs 11,476 crore.
Nevermind those EVs — oil demand keeps growing
Oil demand concerns persist as Brent crude prices have been fluctuating. Gasoline consumption are rising despite push for electric vehicles.
Despite $125 billion debt, why is Pakistan increasing its defence budget to 18000 crore rupees
Pakistan faces economic strain with a $124.5 billion foreign debt, 42% of its GDP. It boosts military capabilities through major arms imports, mainly from China, accounting for 82% from 2019 to 2023. Despite economic woes, it increases defense spending by 15.4% in the national budget, totaling 18000 crore Pak rupees. This military expansion includes submarines from China. Reports suggest Pakistan may have secretly supplied arms to Ukraine, contradicting its neutrality stance. Public discontent grows due to economic hardships and perceived military dominance in resource allocation.
Luxury homes overtake the affordable segment. What gives?
Factors contributing to the luxury housing boom in India include rising incomes, the trend of premiumization, and pent-up demand post-pandemic. Additionally, the investment appeal of luxury real estate, shortage of luxury apartments in prime locations, and growing NRI investments further fuel this segment's growth.
IndiGo in long haul for bigger market share
The company’s international expansion will be gradual given that the aircraft delivery is expected in 2027. A critical question is whether the airline will be able to retain the advantage of a low-cost carrier once it expands in international markets, which would increase its operating costs.
Company registrations drop in April, but LLPs continue to scale fresh peak
In April 2023-24, company registrations fell 3.7%, while LLPs surged 36%. The trend continued from the previous year, reflecting optimism and growth prospects despite technical challenges and a high base effect.
L&T Q4 Results: Profit jumps 10% YoY to Rs 4,396 crore; dividend declared at Rs 28/share
L&T Q4 Results: The Board has also recommended a final dividend of Rs 28 per share of the face value Rs 2 each for the financial year ended March 2024. L&T received orders worth Rs 3.02 lakh crore at the group level during the year ended March 2024, registering a 31% YoY growth.
US growth slowed sharply last quarter to 1.6 per cent pace, reflecting an economy pressured by high rates
The state of the US economy has seized Americans' attention as the election season has intensified. Although inflation has slowed sharply, to 3.5 per cent from 9.1 per cent in 2022, prices remain well above their pre-pandemic levels.
Need a reformed Security Council that better reflects geographical, developmental diversity of the UN today: India
India has underscored the need for a reformed UN Security Council that better reflects the geographical and developmental diversity of the United Nations today, emphasising that the majority of the world body's membership supports calls for expanding permanent seats in the powerful organ. India has been at the forefront, especially leading the Global South, demanding reforms in the United Nations and seeking a place as a permanent member of the 15-member UN Security Council.
Bengaluru International Airport records highest passenger traffic in financial year 2023-24
Kempegowda International Airport marked its busiest year yet, welcoming 37.53 million passengers and handling 4,39,524 metric tonnes of cargo in the fiscal year 2023-24. Among these, 32.86 million were domestic passengers and 4.67 million were international passengers.
Delhi airport among world's top 10 busiest airports: ACI
Releasing the list on Monday, the ACI also said the global total passenger forecast for 2023 stands close to 8.5 billion (850 crore), reflecting a remarkable recovery of 93.8 per cent from pre-pandemic levels and 27.2 per cent higher than 2022.
Canada will reject 606,000 study permits in 2024. Here are the calculations behind its international student cap
Canada has unveiled its plan to reduce study permits for international students through a national cap model. The Net Zero First Year Growth Model aims to stabilize post-secondary student intake in 2024, with a target of 485,000 approved study permits.
Canada moves up a crucial deadline for international students looking for work permits after graduation
The Canadian government will enforce a new rule for international students ahead of schedule. Starting May, graduates of certain college programs will no longer qualify for post-graduation work permits. Other changes to the PGWP program aim to streamline processes and address housing shortages caused by a surge in international student permits.
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