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Latest Market News Today Live Updates September 19, 2024: US Fed rate cut: Here's how US Central Bank's decision will impact Indian stock market; Experts weigh in

Latest Market News Today Live Updates: Follow Mint's market blog for real-time updates on your favourite companies. This blog keeps you informed on all things Dalal Street and global markets.

Business Line

Pfizer launches ‘Analytics Gateway’ in India, its first dedicated global commercial analytics centre

The centre is expected to accelerate data science and AI solutions to meet Pfizer’s ambitions in modernising marketing and creating an agile sales force

The Economic Times

Gold continues to glitter, jumps Rs 170 to Rs 73,264 per 10 gm on global cues

Gold prices continued to shine bright by rallying Rs 170 to Rs 73,264 per 10 grams on the MCX on Wednesday amid a bullish trend in the international markets ahead of the US Federal Reserve interest rate decision. In the futures trade on the Multi Commodity Exchange (MCX), gold contracts for October delivery was trading higher by Rs 170, or 0.23 per cent, at Rs 73,264 per 10 grams.

The Economic Times

How has Nifty performed after Fed cut rates in last three decades?

Despite the Fed's actions over the past two decades, the Nifty has shown resilience, ending with gains 64% of the time after Fed announcements. However, outliers exist, such as the nearly 7% drop in October 2008 following a rate cut during the global financial crisis.

The Economic Times

India largest market by volume, 2nd largest by value for French spirit maker Pernod Ricard

India has become the largest market by volume and second-largest by value for French spirit maker Pernod Ricard. The company, known for brands like Chivas Regal and Glenlivet, reported a 6.1% growth in net sales in FY24. India now contributes 12% to Pernod Ricard's global revenue, focusing on premiumisation and expanding exports.

The Economic Times

Cabinet approves setting up of National Centre of Excellence for Animation on lines of IITs, IIMs

The Union Cabinet has approved the establishment of the National Centre of Excellence for Animation, Visual Effects, Gaming, Comics and Extended Reality in Mumbai. This initiative aims to position India as a global content hub, enhance soft power, and attract foreign investments in the media and entertainment sector.

The Economic Times

Extending battery life with cutting-edge rejuvenation technology

Global warming is escalating due to rising greenhouse gases from fossil fuel use. Scientists are advocating for recycling and reuse, especially in battery management. Lead-acid batteries can be rejuvenated to extend their lifespan, reduce e-waste, and support a circular economy. This technology offers economic and environmental benefits.

The Economic Times

Nepalese billionaire owner of Wai Wai noodles plans pre-IPO funding for India unit in 2025

Nepalese conglomerate CG Corp Global plans a pre-listing fundraise in early 2025 for its India unit, Wai Wai noodles. The funds will be used to expand operations, with an IPO expected in the first quarter of 2026. The company also aims to grow in Europe and Sri Lanka.

The Economic Times

Chevron to set up $1 billion Chevron ENGINE centre at RMZ Ecoworld 30-series in Bengaluru

RMZ Corporation has leased over 3 lakh sq ft of office space to Chevron Global Technology & Services in Bengaluru. This space will house Chevron's first global captive centre outside the US. The facility, located in RMZ Ecoworld, will be operational by year-end and can accommodate over 2000 employees.

The Economic Times

MSME segment will continue to grow by 15%; expect lower NPA by year-end, says Capri Global MD

Rajesh Sharma, MD of Capri Global Capital Limited, discusses the company's strategies for handling NPAs in the MSME segment and plans for growth in gold loans and affordable housing. The company aims to achieve a 25-30% annual growth rate over the next few years, with an AUM target of Rs 25,000 crore to Rs 30,000 crore.

The Economic Times

Infosys, IIT Madras, others join AI Alliance

Founded in 2023, the AI Alliance is a global community technology developers, researchers and industry leaders dedicated to advancing safe and responsible AI through open innovation.

Business Line

Broker’s Call: Narayana Hrudayalaya (Reduce)

HSBC Global Research

Mint

ReNew to monetize its solar manufacturing business, says chairman

The Nasdaq-listed ReNew Energy Global may approach private equity players to raise funds, its founder, chairman and CEO Sumant Sinha said. The company has commissioned two solar manufacturing plants at Jaipur, Rajasthan, and Dholera, Gujarat, with a cumulative capacity of 6.4 GW solar modules.

CNBC TV18

Market will be disappointed if the US Fed cuts rates by less than 50 basis points, says a global expert

Mark Matthews of Bank Julius Baer & Co discussed why the market would be disappointed if the Fed cuts rates by only 25 basis points and whether foreign investors will return to India anytime soon.

Business Standard

Bang Overseas Ltd leads losers in 'B' group

Renaissance Global Ltd, Ecos (India) Mobility & Hospitality Ltd, SpiceJet Ltd and Imagicaaworld Entertainment Ltd are among the other losers in the BSE's 'B' group today, 18 September 2024.

The Economic Times

Reliance Capital, DHFL, IL&FS failure highlights not wanted: Audit watchdog seeks changes in norms

The National Financial Reporting Authority (NFRA) has proposed aligning a key accounting standard with global norms to protect investor interests. This move targets listed private companies and aims to address multiple accounting lapses. Despite resistance from some auditors, NFRA emphasizes the need for updated standards to handle complex financial systems.

Business Standard

Diamond sector faces severe crisis with factory closures, job losses: GTRI

India's diamond sector is facing a severe crisis as both imports and exports have sharply declined in the past three years, which has triggered defaults, factory closures, and widespread job losses, think tank GTRI said on Wednesday. It said that while export returns have surged, a large inventory of unprocessed rough diamonds is piling up due to reduced orders and growing competition from lab-grown diamonds. "This has triggered defaults, factory closures, and widespread job losses. Tragically, more than 60 people in Gujarat's diamond sector have committed suicide, reflecting the severe financial and emotional strain India's diamond sector is facing," Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. He said that immediate action is essential to address these problems and safeguard the future of the sector. According to the think tank data, a 24.5 per cent drop in rough diamond imports from USD 18.5 billion in 2021-22 to USD 14 billion in 2023-024 shows weaker

Business Standard

HEG, Graphite India soar up to 12.5% today; here's what's driving the rally

HEG, Graphite India share price today: Resonac Graphite has announced a minimum 20 per cent of global price increase on all new orders

Business Standard

India presents opportunity, world moving into Indian era: Salesforce

Customer relationship management-focused Salesforce's chairman and chief executive Marc Benioff has said the world is moving into an "Indian era". Speaking to reporters on the sidelines of the annual "Dreamforce" event here, Benioff said the opportunities in India are "exciting" and the company has invested in the country aggressively. "You can see that the world is moving into the Indian era. There is no question that we are going to move into an incredible moment in India," he said. The city-headquartered global company which is aiming to close FY25 with a revenue of USD 38 billion has over 11,000 employees in the country. A bulk of the employee base serves the global client base, while the increasing adoption of digital technologies has made India business also grow. "We do all kinds of things in India including engineering and support but also we go to market in India," Benioff said, adding that it serves large customers like the auto major Bajaj group. He said the company has

Business Line

Vaibhav Global stock dips after credit rating upgrade

E-tailer Vaibhav Global bags credit rating upgrade for improved financial performance

Business Line

Fed rate cut anticipation drives market volatility; tech stocks slump

Global markets showed cautious optimism ahead of the Fed’s announcement, with most Asian stocks rising in early trade

The Economic Times

Stocks to buy today: Cummins India, NTPC among top trading ideas for September 18, 2024

The Indian market is expected to rise on Wednesday, influenced by positive global trends. Nifty futures closed positively at 25,448 levels on Tuesday. Options data suggests a broader trading range between 25,000 to 25,800 zones. Analysts recommend holding above 25,350 for an upward move towards 25,550 and 25,750 zones.

The Economic Times

Microsoft, BlackRock to launch $30 billion fund for AI infrastructure

BlackRock and Microsoft are set to launch a $30 billion fund to invest in AI infrastructure, including data centers and energy projects. The Global AI Infrastructure Investment Partnership aims to enhance AI supply chains and energy sourcing, with Nvidia providing expertise. The fund could mobilize up to $100 billion with debt financing.

Business Standard

India will contribute to 35% of global energy demand in 2 decades: Puri

Over the next two decades, India will contribute to 35 per cent of the global increase in energy demand, Indian Minister Hardeep Puri said here on Tuesday at a multinational conference held to deliberate on the world's energy needs. The 52nd Gastech Exhibition & Conference kicked off Tuesday with strategic insights from the world's five leading energy ministers, including India's, at the George R Brown Convention Center. The event, themed 'Transforming Energy Through Vision, Innovation, and Action,' brought into focus a need for global energy stability and rapid decarbonisation. In his keynote address, Union Minister of Petroleum & Natural Gas, Hardeep Singh Puri underscored India's increasingly dominant role in the global energy landscape. "If global demand is increasing by one per cent, ours is surging three times faster. Over the next two decades, India will contribute to 35 per cent of the global increase in energy demand," he said. He framed India's challenge as an ...

Mint

Contract manufacturing, in-house use part of Adani group's chip play

Adani group’s semiconductor fabrication unit in JV with Tower Semiconductor in Maharashtra’s Raigad district, is expected to pave way for the ports-to-cement conglomerate to create a foundry-model where it will make chips for consumption across its own entities but for global fabless firms as well

The Economic Times

India will contribute to 35% of global energy demand in next 2 decades: Puri at Gastech

India will account for 35% of the global increase in energy demand over the next two decades, according to Minister Hardeep Puri at the Gastech Conference. The event highlighted India's significant role in global energy, focusing on balancing availability, affordability, and green transition.

Mint

Latest Market News Today Live Updates September 18, 2024: Western Carriers India IPO day 4: GMP, subscription status, review. Apply or not?

Latest Market News Today Live Updates: Follow Mint's market blog for real-time updates on your favourite companies. This blog keeps you informed on all things Dalal Street and global markets.

The Economic Times

India scores on subsidies for green H2: ReNew CEO

The global adoption of green hydrogen is slower than expected due to its higher cost compared to grey hydrogen. ReNew's CEO, Sumant Sinha, highlights the need for subsidies and mandates to drive progress. India is advancing faster with subsidies and procurement tenders. Europe and Japan face challenges in subsidy implementation.

The Economic Times

With Hourglass, HUL feels time is ripe to enter India luxury cosmetics

Hindustan Unilever is set to launch its global beauty brand Hourglass in India, marking its entry into the luxury cosmetics market. The brand will be available both online and offline. This move aligns with HUL's strategy to focus on high-margin, low-penetration categories and cater to the growing demand for premium beauty products in India.

Business Standard

Markets hinge on Jerome Powell emulating Greenspan to avoid a recession

To Kristina Hooper, chief global market strategist at Invesco, the US economy looks set to avert a recession as the Fed starts easing policy just ahead of the US election

Business Standard

Modi 3.0 100 days: Commerce ministry takes steps to support MSME exporters

The commerce ministry has taken a host of steps during the 100 days of the Modi 3.0 government for MSME exporters who are facing global challenges due to geo-political tensions. The measures included launching of 'Trade Connect e-Platform' to empower SMEs by giving them access to information and guidance on trade, the commerce ministry said on Tuesday. This platform will connect these enterprises to over six lakh IEC (import-export code) holders, 185 Indian Mission officials and over 600 Export Promotion Council members with the Department of Commerce. Briefing the media, Commerce Secretary Sunil Barthwal said that in the first 100 days, the ministry held meetings with exporters to understand their problems and find ways to resolve those issues. "This e-connect portal will provide all sorts of information to an exporter," he said adding for MSME and other exporters, this portal will become a single point by which they can explore new geographies for shipments. The secretary said t

Business Standard

Petroleum product exports shrink 14% in August as global demand cools

Exports in this category have decreased by nearly 3 per cent to 18.1 mt in the first five months of 2024-25, largely due to sluggish diesel exports

Mint

India records highest mainboard listed cos at over 5,450 in first half of 2024, captures 25% of global IPO volume

India's IPO market stands out with 25% of global listings in early 2024, totaling over 5,450 companies.

Business Line

SP Group attracts global investors as it deleverages balance sheet

Existing investors have also committed to stay invested through its growth phase

Mint

Koo co-founder Mayank Bidawatka to launch Billion Hearts Software to create digital products for global users

Mayank Bidawatka, co-founder of Koo, is launching Billion Hearts Software Technologies. The startup will be operational in a few months, he says.

Mint

Stocks to buy: Axis Bank to Zydus Life—SMC Global Securities lists four stocks to bet on this week; Check TP, upside

Stocks to buy: Domestic brokerage SMC Global Securities has recommended four stocks to buy this week based upon the fundamental and technical analysis in the current market scenario

The Economic Times

Industry body sees domestic zinc consumption doubling in less than decade

The International Zinc Association predicts that India's zinc demand will double in less than a decade, driven by energy transition, battery technology, automobiles, infrastructure, and steel sectors. Currently consuming around 1.1 million tonnes of zinc, India is ahead of global consumption patterns. Zinc's role in reducing carbon emissions and supporting renewable energy infrastructure is crucial.

Business Line

Sensex, Nifty edge higher as auto stocks rally; markets await Fed decision

The slight uptick came amid cautious trading as investors awaited key policy decisions from global central banks

Business Standard

Air India launches $400 million upgrade to transform flying experience

Air India overhaul: The revamp comes as the airline ramps up its international operations amid stiff competition from global carriers

The Economic Times

University of Melbourne launches Global Centre in Delhi

The University of Melbourne has launched its first centre in Delhi, named the Melbourne Global Centre, to promote its educational offerings and foster collaboration between India and the university. This hub will not function as a teaching centre or offshore campus but will serve as a central point for showcasing the university’s research, educational programs, and community engagement initiatives. It will also host cultural events, art exhibitions, and lecture series.