BUSINESS
Nifty Experiences a Pullback Rally in Recent Market Movement
Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services, highlighted the Nifty's smart recovery in the last hour, closing with a gain of 74 points at 21,619 levels. The sectoral performance presented a mixed picture, with notable buying activity in media, IT, metals, and consumer durable stocks.
Gold Dips by Rs 50, Silver Records a Decline of Rs 450 in Latest Market Trends
Providing insights, Saumil Gandhi, senior commodities analyst at HDFC Securities, mentioned, "Gold traded slightly lower on Wednesday, with spot gold prices (24 carats) in the Delhi markets trading at Rs 63,150/10 grams, down Rs 50 against the previous close."
India Set to Become Third Largest Economy by FY28, Aiming for Developed Nation Status with USD 30 Trillion GDP by 2047: Finance Minister
During the Amritkal, marking 100 years of India's Independence in 2047, Sitharaman highlighted the focus on sunrise industries and the impact of the Modi government's FDI policy, which attracted USD 595 billion in the last 9 years.
NITI CEO Subrahmanyam Envisions Viksit Bharat as a Concrete Possibility, Not Merely a Dream
The NITI Aayog CEO highlighted the massive expansion in physical and digital infrastructure in India, stating that the country is outperforming other emerging economies. He underscored the importance of all states achieving development to ensure the nation as a whole becomes 'viksit' (developed).
Musk Opts Out of Vibrant Gujarat; Official Invites Tesla to Explore Investment Opportunities
Managing Director of Gujarat Industrial Development Corporation, Rahul Gupta, emphasized the state's keen interest in attracting Tesla to India and highlighted that Gujarat is already home to several electric vehicle manufacturers.
PM Modi Affirms India's Global Role as a Growth Engine, Trusted Ally, and Pillar of Stability
Addressing the rapidly changing world order, PM Modi characterized India as 'vishwa mitra' or a friend of the world. He highlighted the consensus among major rating agencies that India is poised to become one of the world's top three economies in the coming years.
ArcelorMittal's Hazira Site Set to Become World's Largest Single-Location Integrated Steel Plant
Speaking at the Vibrant Gujarat Summit 2024 in Ahmedabad, Mittal expressed confidence in commissioning the full site within the next five years, thanks to the support from the Gujarat government. He emphasized that ArcelorMittal is not only investing in steel but also venturing into emerging sectors like renewable energy and green hydrogen.
SBI's Planned Dollar-Denominated Bond Issuance Receives BBB- Rating from S&P and Fitch
According to S&P, "S&P Global Ratings today assigned its 'BBB-' long-term issue rating to benchmark-sized notes that the London branch of State Bank of India (SBI) proposes to issue."
Global Business Leaders Praise PM Modi’s Vision Amid Unveiling of Investment Plans
Sanjay Mehrotra, CEO of Micron, expressed gratitude for PM Modi's vision to open semiconductor manufacturing in India. Micron's facility in Gujarat aims to be operational by early 2025, creating numerous direct and community jobs.
7.3% GDP Growth Very Positive, Economic Climate Encouraging: SBI Chairman
The GDP growth forecast of 7.3% surpassed earlier predictions, including the Reserve Bank of India's upward revision from 6.5% to 7%. Khara refrained from discussing the State Bank of India's business outlook due to the institution's current silent period.
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