The combined market valuation of eight of the 10 most valued firms plunged by Rs 2,28,690.56 crore in a holiday-shortened last week, with HDFC Bank and Reliance Industries taking the biggest hit, amid an overall weak trend in equities.
Last week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent.
Equity markets were closed on Tuesday on account of Ganesh Chaturthi.
From the top-10 pack, Reliance Industries, HDFC Bank, ICICI Bank, Infosys, ITC, State Bank of India, Bharti Airtel and Bajaj Finance were the laggards while Tata Consultancy Services (TCS) and Hindustan Unilever were the gainers.
The market valuation of HDFC Bank plummeted by Rs 99,835.27 crore to Rs 11,59,154.60 crore. Shares of the company fell by nearly 8 per cent last week.
The valuation of Reliance Industries plunged Rs 71,715.6 crore to Rs 15,92,661.42 crore. The company's shares declined over 4 per cent past week.
ICICI Bank's valuation dropped Rs 29,41

HDFC Bank

LIC gears up to appeal against a hefty GST demand exceeding Rs 290 cr, encompassing penalties and interest

LIC, Life Insurance Corporation

Higher discounts on Russian oil this month may help Indian refiners reduce crude sourcing costs and trim fuel marketing losses even as Brent crude crosses $95/barrel, weakening the country's finances

oil refinery, crude oil, oil

When Chief Executive Officer Charlie Scharf took the reins at Wells Fargo in 2019, he quickly tagged the firm's wealth offerings as an area he'd seek to develop

Wells Fargo

The US provided Canada with intelligence after the killing of Sikh separatist Hardeep Singh Nijjar, but communications intercepted by Ottawa were more definitive and led it to accuse India of orchestrating the plot, The New York Times has reported citing sources.
The report came on Saturday as the top US diplomat in Canada confirmed that there was shared intelligence among Five Eyes partners that had prompted Canadian Prime Minister Justin Trudeau's offensive allegation against India in the killing of a Khalistani extremist on Canadian soil.
The allegations have infuriated India, which rejected the allegations as "absurd" and "motivated" and expelled a senior Canadian diplomat in a tit-for-tat move to Ottawa's expulsion of an Indian official over the case. India also accused Canada of being a safe haven for terrorists.
Nijjar, the chief of the banned Khalistan Tiger Force (KTF), was killed in Surrey in British Columbia on June 18. India had designated Nijjar as a terrorist in ...

Hardeep Singh Nijjar, Hardeep Nijjar

Here's how Bajaj Finserv Mutual Fund uses behavioural finance in its investment philosophy

Bajaj Finance

Several education consultancy agencies said they are getting panic calls from students and parents, who have already registered themselves

travel, canada

India's only Asian Games individual medallist in recurve section, Tarundeep Rai, feels at least one from the men's archery team could win a medal in the Hangzhou edition and end a 13-year-long drought in the continental showpiece.
Rai indicated that fellow Army colleague Dhiraj Bommadevara and Atanu Das, the senior most in the recurve team, stand a chance to become individual champion.
"Hopefully, I'll get a company (as an Asian Games individual recurve medallist) before I quit next year," Rai told PTI in an exclusive interview.
"I think my record will be broken this year. If they have their day, it can be a gold this time. Hopefully, I will find a company this time.
"I've a huge feeling that Indian men recurve archers will do better in individual events this time. More than the team we have a better chance in individual and teams like Korea, Japan, China, Malaysia and Indonesia are going to be strong medal contenders.
"A Games experience is totally different than a championship e

Tarundeep Rai

Monthly average rental of quality warehousing space in Delhi-NCR rose 19.9 per cent in the first six months of this year, according to a report by realtors body Credai and data analytics firm CRE Matrix.
In their joint report released on Thursday, Credai and CRE Matrix highlighted that the Grade-A warehousing stock crossed 163 million square feet in the first half of 2023, owing to rapid industrial growth.
During January-June period, the demand for Grade A warehousing space stood at 13 million square feet, whereas supply stood at 9.4 million square feet across six major cities. The vacancy level stood at a mere 8.8 per cent at the end of H1 2023, from the previous 10.5 per cent in the year-ago period.
These six cities are -- Delhi- NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Chennai and Hyderabad.
Rental costs too have witnessed a 10 per cent surge across India wherein  Delhi-NCR (almost 20 per cent) and Chennai (20.8 per cent) had the highest increments in rental rates

Eye on e-commerce, ESR plans one 'plug &amp; play' warehouse every quarter

Warehouse

Sensex, Nifty50 fall for a third day as FPIs intensify selling

markets, market rally, bull market, bear market, market, stock market, markets

iPhone maker Apple has plans to scale up production in India by over five-fold to around USD 40 billion (about 3.32 lakh crore) in the next 4-5 years, according to government sources.
According to the official, who did not wish to be named, the company has crossed the USD 7 billion production mark in the last financial year.
"Apple has plans to increase production in India to over USD 40 billion in the next 4-5 years. It has crossed USD 7 billion in the last fiscal," the official said.
An email query sent to Apple did not elicit any reply.
Apple manufacturers iPhones in India and has plans to start manufacturing Airpods from next year.
The officer said that Apple has no immediate plans to make iPads or its laptops in India.
"They don't have any plans to participate in IT hardware PLI. They may come at a later stage but as of now their focus is to scale up existing production levels," the officer said.
The company globally sold iPhones worth USD 191 billion and products worth USD

Bharat Biotech arm is setting up a Rs 1200 crore manufacturing site in Bhubaneshwar

Dr Krishna Ella

JP Nadda further stated that developments in railways will lead to a new era of connectivity and help make progress in the realisation of a developed India

Bharatiya Janata Party president JP Nadda

Lieutenant Governor V K Saxena has directed civic officials to revamp roads, pavements, parks, and sewerage and drainage systems in east Delhi areas, officials said on Sunday.
The Lt Governor's office will monitor the progress of the work and no status report will be accepted without photo or video evidence, they said.
The direction came after Saxena visited several areas of east Delhi, including Shashtri Park, Mansarovar Park, Seelampur, Shyam Lal College, Karkardooma, Surajmal Park, and Dilshad Garden.
He flagged the poor condition of roads, sanitation, encroachment, and clogged drains and directed civic agencies to begin the work immediately, officials said.
"Daily progress of work will be monitored by the LG Secretariat," an official said.
The  Lt Governor has specifically directed that no progress report from any agency would be accepted unless supported by before and after photographs, they said.
He asked all concerned agencies -- MCD, PWD, DDA, DJB -- to sort out the ...

Contractors will now be given funds every month, rather than on the basis of the milestone achieved

road construction, highway construction

In the Men's round, Santosh beat Bangladesh's Rahman Mohammad Fahad by 1-0. On the other hand, Arjun defeated the Philippines' Bersamina Paulo by 1-0

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Apple to scale up production over 5 times in India to $40 bn in 5 years

Bharat Biotech to invest Rs 3,000-4,000 crore for next leg of growth

Railways witnessed unprecedented transformation under PM Modi: JP Nadda

Carry out repair, beautification work in east Delhi areas: LG to officials

Asian Games: India chess team shines in round 1 of Chess tournament

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M-cap of 8 of 10 firms lose Rs 2.28 trn; HDFC, Reliance biggest laggards

LIC to challenge Rs 290 cr GST bill issued by Bihar tax authority

After lower sales in August, Russia ups discount on crude sale to India

Banking giant Wells Fargo prepares for wealth battle after $1 bn turnaround

US provided Canada intel on separatist Nijjar's killing, reports NYT

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