BUSINESS
Pearls Group Founder Nirmal Singh Bhangoo Dies Amidst Rs 45,000 Crore Ponzi Scam Case
Reports indicate that Bhangoo was taken to Deen Dayal Upadhyay Hospital in West Delhi after his condition worsened while he was in Tihar jail. Confirmation from either the jail officials or the Central Bureau of Investigation (CBI) is still pending.
Sensex Rises After Fed Chair Signals Possible September Rate Cut
The sub-market trends were strong with Nifty Midcap up 348 pints, 0.60 percent to 58,904, and the Nifty Smallcap up 105 points or 0.55 percent to 19,184.
BHEL Secures ₹11,000 Crore Order from Adani Power and Subsidiary Mahan Energen
The projects, with each 2×800 MW rating, are to be located in Kawai, Rajasthan, and Mahan, Madhya Pradesh. The company has to complete the Kawai Phase-II project within 49 months, the Kawai Phase-III within 52 months, and the Mahan Phase-III within 55 months from the date of award, according to a filing with the stock exchange.
Zoho CEO Sridhar Vembu Takes Aim at 'Liver Doc' Over Health Criticism
He described walking barefoot as a simple, free, and harmless habit, indicating that it has been normal practice in the countryside for generations. Vembu said he had got used to it so much that he does not think about it anymore. "It's worth a try," he encouraged.
Hyundai Motor and Kia EVs Earn Top Ratings in Major Global Crash Safety Tests
The models include the Genesis GV60, Hyundai's Ioniq 5 and Ioniq 6, and Kia's EV6 and EV9.
Government Greenlights Unified Pension Scheme, Benefiting 23 Lakh Employees Nationwide
The financial burden for arrears under this scheme has been outlined by the government as Rs 800 crore, with an anticipated annual cost increase of about Rs 6,250 crore in the first year. The scheme is likely to be implemented from April 1, 2025, and Central government employees will have the option to opt either for NPS or UPS. Existing subscribers of the Centre's NPS, too, will be provided with an option to shift to the UPS.
Cognizant Sues Infosys Over Trade Secrets; Infosys Denies Allegations
Infosys, in a statement, denied all allegations. The company asserted it is aware of the lawsuit and will defend its position in the court.
Indian Markets Poised to Respond Positively to US Rate Cut Announcement
The S&P 500 rallied Friday as market sentiment improved on Federal Reserve Chair Jerome Powell's dovish monetary policy stance, who reiterated that "the time had come" for an adjustment.
Audit Reveals Rs 8,884 Crore in Outstanding Loans to Indirect Entities by Anil Ambani's Reliance Home Finance
These auditing practices brought to light a number of lapses in its lending practices. Some of these anomalies related to the loan sanctioning process and the reclassification of loans to related parties just before disbursement as non-related loans. The trends in the repayment pattern of borrower entities, the auditors identified, included circular transactions and evergreening of loans in a number of transactions.
India's Forex Reserves Surge by $4.6 Billion, Reaching $674.7 Billion
In the week ended August 16, foreign currency assets, a major component of the reserves, increased by $3.6 billion to $591.6 billion, the RBI data showed.
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