logo
Eternal, private banks lift Sensex 150 pts higher, Nifty over 25,100

Eternal, private banks lift Sensex 150 pts higher, Nifty over 25,100

Time of India3 days ago
Indian benchmark indices Sensex and Nifty50 opened higher on Tuesday, buoyed by strong earnings from top private lenders and Eternal (Zomato). Investors also remained cautious ahead of a potential trade deal with the US, with the August 1 deadline approaching.
The BSE Sensex was trading 193 points, or 0.24%, higher at 82,393. The Nifty50 was up 43 points, or 0.17%, trading at 25,134 around 9:20 am.
Explore courses from Top Institutes in
Select a Course Category
Project Management
Design Thinking
Operations Management
PGDM
Data Analytics
Leadership
MCA
Digital Marketing
Data Science
others
Technology
Cybersecurity
Data Science
Finance
healthcare
Artificial Intelligence
Management
MBA
Degree
Healthcare
Public Policy
CXO
Others
Product Management
Skills you'll gain:
Portfolio Management
Project Planning & Risk Analysis
Strategic Project/Portfolio Selection
Adaptive & Agile Project Management
Duration:
6 Months
IIT Delhi
Certificate Programme in Project Management
Starts on
May 30, 2024
Get Details
Skills you'll gain:
Project Planning & Governance
Agile Software Development Practices
Project Management Tools & Software Techniques
Scrum Framework
Duration:
12 Weeks
Indian School of Business
Certificate Programme in IT Project Management
Starts on
Jun 20, 2024
Get Details
From the Sensex pack, Eternal, Trent, Tata Steel, BEL, ICICI Bank, and HDFC Bank were among the top gainers, while Infosys, UltraTech Cement, Sun Pharma, and Kotak Bank opened in the red.
Eternal hit the 10% upper circuit after reporting a 70% year-on-year jump in Q1 revenue from operations to Rs 7,167 crore, driven by strong growth in its quick commerce and food delivery segments.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Three Indian infra investment trusts eye $500 million debt in coming weeks, sources say
Three Indian infra investment trusts eye $500 million debt in coming weeks, sources say

Economic Times

time16 minutes ago

  • Economic Times

Three Indian infra investment trusts eye $500 million debt in coming weeks, sources say

Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Three Indian infrastructure investment trusts , including the National Highways Infrastructure Trust , are planning to raise up to 43 billion rupees ($499 million) through corporate bonds in the coming weeks, three sources familiar with the matter is in talks with merchant bankers and investors to raise around 15 billion rupees through three-year bonds, the sources, who did not want to be named because the discussions are private, said. Cube Highways Trust is likely to tap the market for about 10 billion rupees in debt, with maturities ranging between three and five IRB Infrastructure Trust is preparing for its debut bond issuance, targeting roughly 18 billion rupees through a dual-tranche offering with five and 10-year tenors. None of the infrastructure investment trusts , or InvITs, responded to Reuters emails seeking typically raise capital through a combination of units and issuances have gained traction in recent months amid falling yields. According to Prime Database, InvITs and real estate investment trusts (REITs) together raised more than 178 billion rupees in the January-June three InvITs are in discussions with investors, including the International Finance Corporation, which has previously invested in debt issued by several InvITs, including Cube Highways, according to a termsheet from an earlier last tapped the bond market in January, while Cube Highways raised funds through bonds in firms and pension funds participated in NHIT's previous bond offering, and the sources said they expect mutual funds to show interest this time, given that the tenor aligns with their investment horizon.($1 = 86.3825 Indian rupees)

Maha: Outstanding Agri loans to various banks surge to Rs 37,392 crore
Maha: Outstanding Agri loans to various banks surge to Rs 37,392 crore

Hans India

time19 minutes ago

  • Hans India

Maha: Outstanding Agri loans to various banks surge to Rs 37,392 crore

Mumbai: Amid hope for a crop loan waiver decision by the MahaYuti government as promised ahead of assembly elections, the arrears towards agriculture loan repayable to banks as on June this year have been reported at Rs 37,392 crore. According to the data compiled by the state cooperation department, of the Rs 37,392 crore, the district central cooperative banks (DCCBs) have yet to recover arrears of Rs 15,492 crore, nationalised banks Rs 18,00 crore, regional rural banks Rs 800 crore and private banks Rs 3,000 crore. The increasing outstanding dues are adversely impacting the finances of these banks. Nearly 20.37 lakh bank accounts of farmers have outstanding dues. The department sources on Thursday hinted that the arrears due to non-repayment by farmers towards crop loan, short, medium and major loans are expected to grow further as the farmers expect an early decision on crop loan waiver. Further, the department sources said that farmers are not repaying the loans despite the appeal made by the Deputy Chief Minister, Ajit Pawar and Agriculture Minister Manikrao Kokate to clear their dues at the earliest without waiting for the announcement of crop loan waiver. The government, on the last day of the monsoon session on July 18, announced the establishment of a committee to look into the crop loan waiver issue and the present state of agricultural stress. Cooperation Minister Babasaheb Patil said, 'The government has set up a committee to study the crop loan waiver option. It is a matter of concern that even the financially sound farmers are not repaying the loan. The financial health of district central cooperation banks, which play a major role in the rural economy, is becoming delicate. They are expected to land in big financial trouble.' According to the cooperation department sources, crop loans worth Rs 70,000 crore on average are disbursed annually in the state. Of which, 65 per cent of loans are disbursed by nationalised banks and 35 per cent by district central cooperative banks. 'Financially sound farmers with large land holdings opt for loans from the nationalised banks, while farmers having small and marginal holdings take loans from district central cooperative banks.' Sources said that the financial condition of many district central cooperative banks, including Nashik, Wardha, and Nagpur district banks, has become fragile. Even the financially sound district central cooperative banks are likely to face similar financial problems if the arrears from farmers towards agriculture loans increase in future. 'The government provides agricultural loans at concessional interest rates. However, farmers are not in the mood to repay loans as they anxiously wait for a decision on the crop loan waiver. However, if the farmers continue to repay loans, then there is every possibility that the rural agricultural credit system may collapse,' warned sources from the cooperation department.

Delhi court reserves verdict on issuing notice to Robert Vadra in land deal case
Delhi court reserves verdict on issuing notice to Robert Vadra in land deal case

Hans India

time19 minutes ago

  • Hans India

Delhi court reserves verdict on issuing notice to Robert Vadra in land deal case

New Delhi: A Delhi court on Thursday reserved its decision on issuing a notice to businessman Robert Vadra, son-in-law of former Congress President Sonia Gandhi, in connection with a money laundering case linked to a land deal in Haryana's Shikohpur. The Rouse Avenue Court will likely pronounce its verdict on July 31 regarding the issuance of a notice to Vadra, the husband of Congress MP Priyanka Gandhi Vadra. The Enforcement Directorate (ED) had filed a prosecution complaint under the Prevention of Money Laundering Act (PMLA), claiming that Vadra's Skylight Hospitality 'fraudulently' purchased 3.53 acres of land situated in the village of Shikohpur in Haryana's Gurugram district through 'false declaration'. During the hearing, advocate Zoheb Hossain, appearing for the ED, stated that the sale deed falsely declared a payment of Rs 7.5 crore, whereas in reality, no such payment was made. This amount was paid at a later stage to evade stamp duty, a fact that has been confirmed by key witnesses, added Hossain. Further, the federal anti-money laundering agency claimed that Vadra, 'through his personal influence', obtained a commercial license on the land purchased. As per the ED, the land was later sold to DLF at a higher price, and this aspect of the case is still under investigation. In April this year, Vadra was questioned in multiple rounds by the ED, during which his statement was also recorded. The land purchase deal in question was executed in February 2008 when Congress was at the helm in Haryana, and Bhupinder Singh Hooda was the Chief Minister. The mutation process, which usually takes months, was done the next day. Months later, Vadra received a permit to develop a housing society on the land, and the value of the plot increased. He sold it to DLF in June at Rs 58 crore. Suspecting the proceeds to be part of a money laundering scheme, the ED has been probing the trail behind the windfall gains. In October 2012, IAS officer Ashok Khemka (now retired), who was then posted as the Director General of Land Consolidation and Land Records-cum-Inspector-General of Registration of Haryana, cancelled the land purchase deal, citing procedural irregularities. Later in 2013, an in-house government panel gave a clean chit to both Vadra as well as DLF. When the BJP-led government came to power, an FIR was registered by the Haryana Police against former Chief Minister Hooda, Vadra, and others.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store