The rebound suggests the conglomerate, once termed "deeply overleveraged" by research firm CreditSights, is finding favor with investors again

Image: Bloomberg

Bloomberg

A constitution bench has reviewed the challenge to the abrogation of Article 370, exploring the constitutionality of the process and its impact on Jammu and Kashmir's special privileges

Supreme Court, Manipur violence

Business Standard

Ahuja was appointed as MD and CEO in May 2018. Manu Ahuja was an alumnus of XLRI Jamshedpur and Thapar Institute of Engineering, Patiala

Manu Ahuja

The combined market valuation of seven of the 10 most valued firms climbed Rs 3,04,477.25 crore last week, with HDFC Bank and LIC emerging as the biggest gainers amid an overall optimistic trend in equities.
Last week, the BSE benchmark rallied 2,344.41 points or 3.47 per cent. On Friday, the 30-share BSE Sensex rose 303.91 points, or 0.44 per cent, to hit its new peak of 69,825.60. The index touched the highest intra-day level of 69,893.80.
HDFC Bank, Life Insurance Corporation of India (LIC), ICICI Bank, Tata Consultancy Services, and Reliance Industries were among the companies that recorded additions in their market valuation.
HDFC Bank's valuation soared by Rs 74,076.15 crore to Rs 12,54,664.74 crore.
The market capitalisation (mcap) of Life Insurance Corporation of India jumped by Rs 65,558.6 crore to Rs 4,89,428.32 crore at close on Friday. LIC had reclaimed the Rs 5 lakh crore-mark after the shares of the company hit a 52-week high on the bourse on Thursday.
However, at cl

HDFC Bank

Press Trust of India

Foreign portfolio investors (FPIs) injected Rs 26,505 crore into the Indian equity markets in the first six trading sessions of this month on expectations of political stability after the BJP stormed to power in three major states and robust economic growth.
This came following a net investment of Rs 9,000 crore in October. Before this, overseas investors withdrew 39,300 crore in August and September, data with the depositories showed.
Going forward, FPI inflows are likely to continue, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
According to the data, FPIs made a net investment of Rs 26,505 crore in Indian equities in this month (till December 8).
Kislay Upadhyay, the founder of FidelFolio Investments, attributed the FPI inflows to the outcome of major state elections that signalled political stability going forward..
"The indication of political stability after the 2024 General elections, strong growth momentum in the Indian economy, inflation

The price range for the transaction has been fixed at Rs 120-121 per share, said sources

Zomato is now allowing its users to build multiple carts at one time

The near 17 per cent fall in the premium of National Insurance Company dragged the overall premium of public sector units

Insurance

A powerful earthquake shook the South Pacific island nation of Vanuatu on Thursday evening, but countries in the region said there was no threat of a tsunami.
The magnitude 7.1 earthquake was located 123 kilometers (76 miles) south of the town of Isangel on the island of Tanna, the US Geological Agency said. It said the quake was centred at a depth of 48 kilometers (30 miles).
The chance of fatalities and large economic losses in the sparsely populated area was low, it said.
Vanuatu has a population of about 337,000, with about 1,200 living in Isangel.
The area is part of the Ring of Fire, an arc of seismic faults around the Pacific Ocean where most of the world's earthquakes occur.
A 7.7 magnitude earthquake in May created small tsunami waves in Vanuatu.

Earthquake, quake

The North Bengal business meet has elicited investments worth Rs 24,000 crore which would be implemented in a span of one to two years, an official of the West Bengal government said on Thursday.
Chief secretary of the West Bengal government H K Dwivedi said that the investment proposals have been received from various sectors.
Business organisations and trade bodies of eight districts in the northern part of West Bengal have participated in the business meet held here on Thursday, he said.
Dwivedi said the state government has been very proactive in encouraging investors to make investments in West Bengal and has been extending support for the same.
He said that after the present government came into power in the state, there have been notable industrial investments in North Bengal.
Discussions on the overall development of the infrastructure of North Bengal also took place at the business meet, he added.

Economic growth

The Civil Aviation Ministry has a tariff monitoring unit (TMU) that monitors airfares between 30 days to one day ahead of a scheduled flight

Jyotiraditya Scindia

Tata Steel, Vedanta, NMDC among mining giants exploring the opportunity

mineral block, mining

RBI MPC: Reserve Bank's Monetary Policy Committee decides to keep the repo rate unchanged at 6.5% and also keeps the FY24 inflation forecast unchanged at 5.4%

RBI Governor Shaktikanta Das kept the repo rate unchaged on friday but raised GDP projections

The point is that businessmen look to prosper; what they seek to minimise is uncertainty, which denotes risk. Beyond that they are politically agnostic, writes T N Ninan

Modi, narendra modi, BJP

On Monday, SC will deliver its verdict on a batch of pleas challenging the abrogation of Article 370 of the Constitution which conferred special status on the erstwhile State of J&K

Raise coverage under food security Act: Supreme Court tells Centre

Supreme Court

The 14-year political journey of TMC leader Mahua Moitra has encountered both upheaval and elevation, as her expulsion from Parliament in a cash-for-query case marked the culmination of her tumultuous parliamentary term.
Despite the abrupt brakes to her parliamentary career for the time being, the opposition's unwavering support painted a contrasting picture, underscoring Moitra's enduring impact in present-day Indian politics.
Moitra, a first-time MP representing Krishnanagar Lok Sabha seat, found herself expelled from the Lok Sabha on Friday.
The Ethics Committee's report, holding her accountable for accepting gifts and illegal gratification, paved the way for her expulsion.
Following a contentious debate where Moitra was denied the opportunity to speak, Parliamentary Affairs Minister Pralhad Joshi proposed a motion to expel the Trinamool member for "unethical conduct," a motion that was adopted through a voice vote.
In response to her expulsion, Moitra strongly criticised the .

Mahua Moitra

A delegation of BJP MLAs led by its Chief Minister-designate Vishnu Deo Sai on Sunday evening reached the Raj Bhavan in Raipur to stake claim to form the next government in Chhattisgarh.
Senior BJP MLA Brijmohan Agrawal told reporters, We have handed over a letter to the Governor stating that Sai ji has been elected as the legislative party leader.
However, Agrawal said that the date of the swearing-in ceremony would be informed later.
Sai (59), a prominent tribal leader, was earlier in the day picked as the leader of the BJP's legislative party in Chhattisgarh during a meeting of 54 newly elected party MLAs at Kushabhau Thakre Parisar, the party's state headquarter, here, a BJP functionary said.

Vishnu Deo Sai

Heavy fighting raged overnight and into Sunday across Gaza, including in the devastated north, as Israel pressed ahead with its offensive after the US blocked the latest international push for a cease-fire and rushed more munitions to its close ally.
Israel has faced rising international outrage and calls for a permanent cease-fire after the killing of thousands of Palestinian civilians.
Nearly 85 per cent of Gaza's 2.3 million people have been displaced within the besieged territory, where UN agencies say there is no safe place to flee.
The United States has lent vital support to the offensive once again in recent days, by vetoing United Nations Security Council efforts to end the fighting that enjoyed wide international support, and by pushing through an emergency sale of over USD 100 million worth of tank ammunition to Israel.
Israeli Prime Minister Benjamin Netanyahu thanked US President Joe Biden for the important ammunition for the continuation of the war, and for supporting 

An Israeli army flare is seen over the Gaza Strip

Negotiators have been urged to narrow down their options so they can agree on how to save Earth from disastrous levels of warming and help vulnerable societies adapt to weather extremes as the clock runs down on United Nations climate talks.
COP28 President Sultan al-Jaber told journalists Sunday afternoon that negotiators were making good progress, just not fast enough.
Am I satisfied with the speed and the pace? al-Jaber said, as protesters could be heard nearby calling for the end of fossil fuels. The answer is no. ... Time has come for us to shift gears. Time has come for us to deliver.
There some were signs negotiators were moving forward on Sunday: A new draft agreement on global adaptation goals  which will determine how poor countries will brace themselves for climate change-fuelled weather extremes like drought, heat and storms  was released.
The draft text expresses concern over the gap between the money needed for adaptation and how much countries are getting, but it ...

cop28

He further observed that "our civilizational ethos and constitutional commitment reflect our deep dedication to respecting, safeguarding, and nurturing human rights which is in our DNA"

Rajya Sabha Chairman Jagdeep Dhankhar

AAP national convenor Arvind Kejriwal and Punjab Chief Minister Bhagwant Mann launched the "Bhagwant Mann Sarkar Tuhade Dwar" scheme, aimed at providing citizen-centric services to people at their doorstep, on Sunday.
Under the scheme, people will get 43 services, including issuance of certificates of birth, marriage, death, income, residence, caste, rural area, border area, backward area, pension, payment of electricity bills and land demarcation.
Addressing a gathering here after the launch of the scheme, Delhi Chief Minister Kejriwal said it is a historic day not only for Punjab, but also for the country.
"The work that is going to commence in Punjab is not less than any revolution. It is a revolutionary step," said Kejriwal, who was accompanied by Mann.
"You do not need to go to offices. Your work will be done at your doorstep," he added.
Kejriwal said as many as 43 government services will be delivered at the doorstep of people.
He said to avail these services, people will h

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Chhattisgarh's next CM Vishnu Deo Sai reaches Raj Bhavan to meet Governor

Heavy fighting across Gaza as Israel presses ahead with renewed US support

At COP28, sticking points remain on fossil fuels and adapting to climate

India is a role model in human rights, says Vice President Dhankhar

Kejriwal, CM Mann launch scheme in Punjab to deliver services at doorstep

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M-cap of 7 most valued cos add Rs 3.04 trn; HDFC Bank, LIC biggest gainers

FPIs invest Rs 26,505 cr in equities in first six sessions of December

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