Two Trades for Today: A life sciences firm for almost 8.5% upmove, a mid-cap realty stock for close to 6% rise
Although the markets could not escape the global negativity, the Indian equities remained resilient. The Nifty opened expectedly with a gap down on Friday; however, it formed its low point in the early minutes of the trade. After that, throughout the day, the markets gradually tried to improve and recover their losses. The Index was indeed able to come off the lows but continued staying negative throughout the day. The headline Index Nifty 50
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India Gazette
26 minutes ago
- India Gazette
PM Modi, Cyprus President Christodoulides attend Business Roundtable in Limassol
Limassol [Cyprus], June 15 (ANI): Prime Minister Narendra Modi and the President of Cyprus, Nikos Christodoulides, attended a business roundtable event on Sunday. Upon his visit to the country, President Christodoulides called PM Modi's visit historic and 'a new chapter in a strategic partnership that knows no limits.' Earlier in the day, while sharing the events that PM Modi will attend, MEA Spokesperson Randhir Jaiswal said, 'Our ties with Cyprus are historic, warm, and enduring. Today, on arrival at the airport, he was received by the President of Cyprus. This is reflective of how strong our ties are. This was a special gesture from the Cyprus side.' He said the business roundtable would discuss ideas for strengthening the India-Cyprus business partnership. Notably, MEA Spokesperson Jaiswal said that the business partnership would explore newer areas of engagement such as 'data, innovation, digital payments, shipbuilding, ports'. Prime Minister Narendra Modi on Sunday received a heartfelt welcome from the Indian diaspora in Limassol, as he arrived in Cyprus as part of his three-nation tour. PM Modi was seen being greeted by the diaspora with bouquets as he arrived at his hotel and the Prime Minister also engaged with the diaspora, exchanging greetings and acknowledging their support. In a post on X, Prime Minister Modi thanked the Indian community for their affection. He wrote, 'I thank the Indian community for the affection. India will keep working to deepen ties with Cyprus in the times to come.' He also shared the highlights of the day in a post on X. In a post on X, the President of Cyprus too extended a warm welcome to PM Modi. Calling it a 'historic visit', he said that the visit would see a new chapter in the India-Cyprus partnership. 'Welcome to Cyprus Prime Minister @narendramodi! Here, at the EU's southeastern frontier and gateway of the Mediteranean. A historic visit, A new chapter in a strategic partnership that knows no limits. We make a promise to advance, transform, prosper more. Together Cyprus-India-EU' EAM Jaishankar upon arrival in Lacarna, met the Foreign Minister Constantinos Kombos and underscored how the visit by PM Modi would deepen the lonstanding bilateral ties. He wrote on X, 'Delighted to meet FM @ckombos of Cyprus on my arrival at Larnaca. Confident that PM @narendramodi's visit to Cyprus will deepen our longstanding bilateral ties and the India - EU partnership.' PM Modi, accompanied by a large delegation of around 100 officials, is visiting Cyprus at the invitation of President Nicos Christodoulides. The visit holds significance as Cyprus has been a consistent supporter of India's positions on Kashmir, cross-border terrorism, and reforms in the United Nations Security Council. Cyprus takes over the rotating presidency of the Council of the European Union from January 1. The visit will reaffirm the shared commitment of the two countries to deepen bilateral ties and strengthen India's engagement with the Mediterranean region and the European Modi's visit follows an invitation extended to him by Christodoulides and comes eight years after then-President Nicos Anastasiades visited India. (ANI)
India Gazette
26 minutes ago
- India Gazette
"Gateway to Europe, mutual trade reached USD 150 million, real potential...is much more than this:" PM Modi at India-Cyprus CEO Forum
Limassol [Cyprus], June 16 (ANI): Prime Minister Narendra Modi on Sunday (local time) emphasised India's significant progress and economic strengths, while addressing the India-Cyprus CEO Forum. PM Modi said that Cyprus has been a trusted partner for India and has made significant investments in the country. Many Indian companies have also established a presence in Cyprus, which is seen as a gateway to Europe. The mutual trade between India and Cyprus has reached USD 150 million, but PM Modi believes there is much more potential for growth and cooperation. 'Cyprus has been our trusted partner for a long time and there has been significant investment from here in India. Many Indian companies have also come to Cyprus; in a way, Cyprus is seen as a gateway to Europe. Today, the mutual trade has reached 150 million dollars, but the real potential of our relations is much more than this...,' said PM Modi. He highlighted India's growing economic prowess, with the country set to become the third-largest economy in the world in the near future. Addressing the India-Cyprus CEO Forum, PM Modi emphasised India's rapid growth and its potential for collaboration with Cyprus. PM Modi said, '...In the last one decade, India has become the fifth largest economy of the world and in the very near future, we are moving very fast towards becoming the third largest economy of the world. Today, India is one of the fastest-growing emerging economies in the world... Today, India has a clear policy...' PM Modi highlighted a 'digital revolution' over the past decade, following his government's third consecutive election win, citing that '50 per cent of the world's digital transactions take place in India through Unified Payments Interface i.e. UPI.' 'It has happened after 6 decades that the same government has been elected for the third consecutive time. There has been a digital revolution in the last 10 years. Financial inclusion has become an example of this. Today, 50 per cent of the world's digital transactions take place in India through Unified Payments Interface i.e. UPI,' said PM Modi. The Prime Minister welcomed talks to include Cyprus in UPI, similar to France and said, 'Many countries, like France, are associated with it. Talks are going on to include Cyprus in this and I welcome it.' He highlighted India's growing economic strength and its focus on futuristic infrastructure development. PM Modi also detailed focus areas, including the new Manufacturing Mission, maritime and port development, shipbuilding, and a rapidly expanding civil aviation sector. 'We are investing more than a hundred billion dollars annually in the development of futuristic infrastructure in India. In this year's budget, we have started the Manufacturing Mission. Our focus is on maritime and port development. We are also giving priority to shipbuilding and shipbreaking. A new policy is also being brought for this. The civil aviation sector is also moving forward rapidly. Innovation has become a strong pillar of India's economic strength. Our more than 1 lakh startups sell solutions, not just dreams...,' said PM Modi. PM Modi also divulged that the Cyprus Stock Exchange and the National Stock Exchange (NSE) have agreed to cooperate in Gujarat International Finance Tec-City (GIFT City), promoting economic collaboration and investment opportunities. 'I am happy that Cyprus Stock Exchange and NSE (National Stock Exchange) have agreed on cooperation in GIFT City in my home state, Gujarat...,' added PM Modi. The Prime Minister stated that India is committed to concluding a Free Trade Agreement (FTA) with the EU by the end of the year, building on the momentum gained in negotiations and following the ambitious FTA agreed upon with the UK last month. PM Modi welcomed the establishment of the India, Cyprus, and Greece Business and Investment Council, which can serve as an important platform for economic cooperation and growth. 'Last month, an ambitious FTA was agreed between India and the UK. We are committed to concluding a free trade agreement between India and the EU by the end of this year. There is momentum in its negotiation. I welcome the establishment of the India, Cyprus, and Greece Business and Investment Council. This is a very good initiative and can become an important platform for economic cooperation. My team has noted everyone's ideas and suggestions. We will follow these by making an action plan. I also invite you to visit India...,' said PM Modi. PM Modi also thanked Cyprus President Nikos Christodoulides for receiving him at the airport. 'I want to express my gratitude to the President for today, he came to receive me at the airport. He organised a bigger round table with the business leaders. I also sincerely thank you for the positive thoughts they have given me and our partnership,' he said. PM Modi is visiting Cyprus from June 15-16, at the invitation of President Christodoulides, the first by an Indian prime minister in over 20 years. (ANI)
Time of India
an hour ago
- Time of India
Opening up space and nuclear sectors most unexpected decisions of Modi government: Minister Jitendra Singh
File photo: Space minister Jitendra Singh NEW DELHI: Space minister Jitendra Singh said on Sunday that opening the space sector to private enterprises and this year's announcement allowing foreign investment in the nuclear sector are 'some of the most unexpected decisions made in the last 11 years under the leadership of PM Narendra Modi'. On ushering in reforms, the minister said: 'Over the last 10 years, some of the most unexpected decisions made were not even demanded, like opening the space to the private sector and this year's announcement about the nuclear sector... When it was realised that to move on from where we were, we could not wholly depend on government sources and resources, PM Modi allowed us to bring in the private sector and the results have been phenomenal'. About the space sector, Singh said: 'We were a minimal economy till about 4-5 years ago. Today the sector is worth $8 bn and the pace of its growth is so fast that in the next 8-10 years, we hope to grow five times more to $45 bn. Which means that in the years to come, India's space economy is going to be a very important component of its growth story..." Under PM Modi's leadership, India is not just chasing the future—it's engineering it. 'With the Rs 6,003.25-cr National Quantum Mission, which involves 150+ scientists, and 43 top institutions, Bharat is boldly shaping the next frontier with Quantum technology, using Indian talent to make a global impact,' he pointed out.
