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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.
SBI Card share price up 0.51 per cent
A total of 39,849 shares changed hands on the counter till 01:03PM (IST).
Infra cos step up hiring betting on govt focus on sector
India's infrastructure sector is hiring millions in unskilled, semi-skilled, and skilled labor segments, with expectations that the new government will continue investing in infrastructure development, including highways, roads, and airports. An estimated 9.8 million jobs are expected to be created in FY25, driven by strategic investments and ambitious plans for transportation and logistics development.
India's services growth picks up in June on record rise in exports
India's services sector saw robust growth in June, driven by strong demand and record export orders, according to the HSBC India Services PMI by S&P Global. The index rose to 60.5, indicating expansion. Hiring reached its highest in nearly two years, while positive sentiment dipped slightly due to market uncertainty.
UP cabinet passes draft of UP NIRMAN Bill-2024 to attract investors
The Uttar Pradesh government passed the draft of the Uttar Pradesh Nodal Investment Region for Manufacturing (Construction) Area Bill (NIRMAN)-2024 in a bid to boost the state's economy to one trillion dollars. The bill aims to create Special Investment Regions (SIRs) to attract big investors. The decision will promote economic development, ease of doing business, and create new job opportunities. Additionally, the cabinet approved a proposal for a Memorandum of Understanding between ITPO and MSME to encourage industrial investment.
IT stocks: A comeback which just needs a bit more confirmation; 7 stocks with an upside potential of up to 23%
Just before the expiry of the June series contract, bulls were seen in a segment of the market which has been long ignored by them — IT stocks. Because the upward movement was taking place at the end of expiry, one could not rule out the element of short covering. If one looks a bit deeper in the trend in IT stocks, two things have become clear. That while the news and opinion has been negative, the price action has not been so bad as has been painted. Now let's look at what happened in the IT sector and why there could be a case for contrarian buying. Yes, the sector has some headwinds which not many had thought would appear two years back. But the bigger question is whether this phase of underperformance is about to get over or not. It might be time to shed the bias of negativity around large IT players.
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Will Nifty give up 24,000 or make new highs this week? 7 factors to decide
Looking ahead, market focus will shift to upcoming releases including US and Indian manufacturing Purchasing Managers' Index (PMI) data, alongside a pivotal speech from the Federal Reserve Chair. Meanwhile, attention within India remains fixed on the progress of the monsoon season, with the India Meteorological Department confirming its onset in Delhi and other parts of North India.
Post tariff hikes: Users could spend Rs 47,500 crore more, trade up data plans
The recent hefty tariff hikes by major Indian telecom companies, Reliance Jio and Bharti Airtel, are expected to significantly increase consumer spending on telecom services, potentially adding Rs 47,500 crore annually. These increases, aimed at boosting 5G monetisation, raise the cost of entry-level 5G plans by up to 71%. Analysts anticipate a 15-17% rise in average revenue per user (ARPU) for Jio and Airtel, driven by up-trading to higher data allowance plans. Despite risks of subscriber churn, the hikes are seen as pivotal for enhancing profitability and investment returns in the telecom sector.
F&O Radar| Deploy Bull Call Spread in TCS to capitalize potential up-move
The stock then took support around the level of 3,650, from where it resumed the journey upwards and following a brief consolidation of a few sessions, the stock showed strength as a strong bullish candle was formed on Thursday.
Vraj Iron and Steel IPO picks up pace on Day 2. Check subscription, GMP and other details
The initial public offer (IPO) of Vraj Iron and Steel picked up pace on the second day of the bidding process. The issue was subscribed over 8 times so far, driven by strong interest from retail and non-institutional investors.
External debt up 6 per cent to $663 billion as of March 2024
In March 2024, India's external debt reached $663.8 billion, showing a $39.7 billion increase from the previous year. The valuation effect and a decline in short-term debt share contributed to this change, with debt service ratio rising to 6.7% of current receipts. Additionally, the ratio of international financial assets to liabilities increased to 74.0%.
Not AI, IT hiring not picking up because of global slowdown in IT spend: Ramani Dathi, Teamlease Services
Ramani Dathi says there is no major uptick as far as demand for IT pros is concerned. There are a few set of clients, especially the GCCs and to some extent, who are able to maintain the current run rate of revenues and headcounts for Teamlease, but to show a massive growth or a double-digit growth, the IT services hiring has to be back on track.
Up to 84,000% returns! 15 multibaggers that turned Rs 1 lakh into at least Rs 50 lakh in 3 years
15 companies show over 5,000% growth, turning Rs 1 lakh into Rs 50 lakh in 3 years. Diamond Power Infrastructure and Dhruva Capital Services lead with up to 84,000% returns. Expert advice urges caution and sector-specific focus for investors eyeing multibagger stocks.
UP Public Service Commission paper 'leak': Water bottle trick uncovered after arrest of 5 engineers
Six individuals arrested in Prayagraj for the paper leak of the Review Officer/Assistant Review Officer Examination-2024, which originated from a printing press in Bhopal. The individuals arrested include a printing press worker. The STF reported the seizure of a laptop, six mobile phones. Earlier, ten other individuals had been arrested in relation to this case.
Axis Bank entities to up stake in Max Life Insurance at Rs 336 crore
Axis Bank and its subsidiaries have approved increasing their stake in Max Life Insurance to 19.99% through a Rs 336 crore cash deal. This move aims to bolster Axis Bank's presence in the life insurance sector, following earlier regulatory approvals for equity infusion in Max Life.
Juneteenth 2024: Banking and postal services to remain shut in the US? All you need to know
Juneteenth 2024 is a federally recognized holiday and some services in the United States may remain closed on this occasion. Know which of them are not going to be operating and which are to stay open in major US cities. Some major facilities across the US are staying shut for this occasion, which may see some of your plans change.
ONDC is bulking up financial services play with consumer-facing apps
Tata Group's super app Tata Neu and credit marketplace Paisabazaar are conducting pilot studies for credit disbursals through the ONDC network, with lenders like DMI Finance and Aditya Birla Finance already integrated.
SBI to monetise subsidiaries after scaling up their businesses: Chairman Khara
SBI Chairman Dinesh Kumar Khara stated that the bank plans to wait for its subsidiaries like SBI General Insurance and SBI Payment to enhance their operations before considering monetisation through the capital market to boost valuation and returns for SBI. With loans worth Rs 5 trillion in the pipeline from the corporate sector, Khara indicated a shift towards credit-seeking behavior for working capital and expansion, signaling potential for private sector growth and value creation by SBI.
SP to honour some defeated INDIA bloc candidates with 'sammansad' title: Akhilesh Yadav
SP chief Akhilesh Yadav has accused the BJP of administrative scams in the Lok Sabha elections on some seats in Uttar Pradesh. He announced to honor the defeated candidates of the INDIA bloc with the title of 'sammansad'. Yadav stated that the people in the Lok Sabha constituencies have given their full support and respect to the candidates of the INDIA bloc, considering them true representatives of the people. He congratulated all the newly-elected MPs of the INDIA bloc in UP and wished them to continuously move forward for the protection and security of the Constitution, democracy, and reservation by strengthening the PDA (Pichhda, Dalit, Alpsankhyak) family with the mission of public service and social justice.
Rahul Gandhi will sit in Rae Bareli every Saturday, Sunday to solve people's problems: Dinesh Singh
BJP's Rae Bareli candidate Dinesh Pratap Singh, who lost to Rahul Gandhi, announced a partial leave on weekends to attend to family responsibilities. Singh assured locals he will continue serving them on weekdays. Rahul Gandhi secured 6,87,649 votes, while Singh received 2,97,619. Singh urged locals to rely on Gandhi for support, as he will address their issues on weekends. Despite the defeat, Singh expressed gratitude to his voters and questioned Gandhi's victory, attributing it to temporary support from SP voters.
UPS to make some parcel-tracking tags in India
United Parcel Service (UPS), the world's largest parcel delivery company, is in discussions with various Indian state governments to produce tracking tags for packages in the country. UPS aims to capitalize on India's semiconductor investments, aligning with Prime Minister Narendra Modi's goal of bolstering the nation's chip manufacturing capabilities
Memorial Day 2024: What will remain open and what will be closed? Here are details
Memorial Day began in the 19th century as Gen. John Logan issued an order in 1868 to observe May 30 as a day of remembrance for those who died serving in the Civil War. While all Northern states recognized Decoration Day as a holiday by 1890, Southern states chose to observe it on separate days.
Government to evaluate four financial sector schemes of finance ministry
The Development, Monitoring, and Evaluation Office of NITI Aayog will soon conduct assessments of four key financial sector initiatives administered by the Department of Financial Services: Pradhan Mantri Jan Dhan Yojana (PMJDY) initiated in 2014, along with the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Stand-up India (SUPI) program. The objective is to scrutinize the schemes regarding their reach and effectiveness among the intended beneficiaries and to explore potential enhancements to the insurance scheme benefits.
British PM Rishi Sunak apologises for 'infecting thousands with tainted blood', says its 'a day of shame for the British state'
British PM Rishi Sunak apologized for a cover-up by the NHS, revealed in a report, where over 30,000 people were infected with HIV and Hepatitis C due to contaminated blood products in the 1970s-90s, leading to 3,000 deaths. Sunak pledged compensation, calling it a "day of shame." The report highlighted failures in testing and a subtle cover-up. Campaigners hailed the report as a step towards justice, with Sunak promising to "right this historic wrong" with a 10 billion pound compensation package.
10 Best Vest Harness for Dogs: Ensure Maximum the Safety of Your Pet
Do you know that regular walks and running sessions can elevate your pet’s mental and physical health in the long run? Therefore, it is important to invest in a premium quality vest harness for dogs so that they can feel maximum comfort during walking, running, and training sessions. In today’s article, we have curated a list of the 10 most recommended vest harnesses for dogs made from super comfortable and highly durable materials.
Starlink experiencing degraded service, Elon Musk says satellites under pressure
Starlink, the satellite unit of Elon Musk's SpaceX, is experiencing a degraded service, its website showed on Saturday, adding that the team is investigating the issue.
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