BUSINESS
Sensex Reaches All-Time High, With Bharti Airtel and SBI Leading the Gains
Early trade saw Sensex and Nifty making a new all-time high of 84,862 and 25,911 respectively.
Tech and Biosciences CEOs Meet PM Modi, Express 'Immense Optimism' for Future Collaboration
His government was "committed to making India a global hub of semiconductor manufacturing" and a biotech powerhouse, PM Modi told them, as according to the Ministry of External Affairs press release. It said India's policy is "to promote AI for All, underpinned by its ethical and responsible use." PM Modi's X post called the roundtable "fruitful" and that they discussed technology and innovation while he "highlighted the strides made by India in this field." He met separately with Kris Singh, the CEO of Holtec International, which makes small nuclear reactors.
September Poised to Be Busiest Month for IPOs in 14 Years, According to RBI
This has been revealing in the primary equity market, particularly in the initial public offerings by small and medium enterprises, with massive oversubscriptions going all the way to mutual funds.
FIIs Invest ₹14,064 Crore in Indian Equity Market This Week, Trend Expected to Continue
Total FII investments up to 20 September stood at ₹33,699 crore. According to NSDL, this means total FII investment in India for the fiscal year at ₹76,585 crore. Market analysts believe the trend of FIIs buying will continue in the days ahead.
Inward FDI Sees 23.6% Surge to $27.7 Billion from April to July, Reports RBI
As per the latest bulletin of RBI, the net FDI for this period hiked to $5.5 billion compared to $3.8 billion for the same period of last year. The data of repatriation and divestment by foreign investors in India to the central bank increased to $15.9 billion for the first four months of FY25 as compared to $14.7 billion a year back.
India's Forex Reserves Increase by $223 Million, Reaching a New High of $689.45 Billion
It showed that for the week ended September 13, foreign currency assets, an important component of reserves, had however dipped by USD 515 million to USD 603.629 billion. In dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves.
Family Member of Ashneer Grover Arrested in BharatPe Fraud Case
Deepak Gupta, the brother-in-law to Madhuri Grover, has been arrested on the night of September 19. During investigation, it was found that accused Deepak Gupta was the Procurement Head at relevant time in the complainant company and he used to acknowledge the bogus deliveries of standees etc., on the basis of which the payments were made to the non-existent firms," a statement by the EOW said. Earlier, another accused in this case, Amit Bansal, was also arrested by the EOW.
Sensex Surpasses 84,000 for the First Time, Nifty Reaches Record High
By 11:16 a.m., the benchmark BSE Sensex had surged by 1,028 points or 1.21 per cent to 84,190 and Nifty managed to inch up by 287 points or 1.13 per cent to 25,700.
Banks must use UPI to create more digital opportunities to empower millions, Says Sitharaman
Speaking at an event in Pune, the Finance Minister said that a robust banking system can help achieve economic growth, social progress, and environmental sustainability, and as UPI spreads its wings, the banks can thrive along with it too. Based on the encouraging response received from several countries, the RBI is now focusing on making "UPI and RuPay truly global.".
India on Track to Become World’s Third-Largest Economy by FY 2030-31: S&P Global
This report focuses on infrastructure development and, therefore, strategic geopolitical effort in which these will be determinant while trying to maximize on larger benefits of trades to the country.
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