In early trade on April 18, the share price of Power Grid Corporation of India surged by nearly 4 percent following the company’s successful bid in tariff-based competitive bidding for establishing inter-State transmission systems. These projects will be executed on a build, own, operate, and transfer (BOOT) basis. The bid for transmission projects in Rajasthan and Gujarat. They will handle evacuating power...
Business
Elon’s Starlink one step away from getting greenlit in India with in-principle govt nod
Days before his scheduled meeting with Prime Minister Narendra Modi in India, Elon Musk’s satellite internet venture Starlink has received an in-principle approval from the telecom ministry. This approval clears a critical hurdle that the venture has been facing for almost three-and-a-half years. The approval process is now at the desk of communications minister Ashwini Vaishnaw, awaiting final vetting by the home ministry over certain security matters,...
Sensex, Nifty tumble as conflict in West Asia spooks investors
Stock markets took a beating on Monday with benchmark Sensex and Nifty tumbling over 1 per cent as escalating conflict in the West Asia and weak trends from global markets unnerved investors. Falling for the second session in a row, the 30-share BSE Sensex tanked 845.12 points or 1.14 per cent to settle at a more than two-week low of...
Elon Musk’s India visit to last 48 hours, may unveil plans for Starlink service
Tesla Inc. chief Elon Musk’s much-awaited India visit will last around 48 hours during which the billionaire will make mega announcements, including plans to start Starlink services in India, sources told CNBC-TV18 on April 12. The channel reported that Musk will be in India on April 21 and 22 and the Tesla CEO and his team will meat government officials and industry...
HAL gets Rs 65K cr MoD tender for 97 more Tejas Mark 1A fighter jets
In what could be the government’s largest-ever purchase of indigenously-built military equipment, the Ministry of Defence (MoD) has issued Hindustan Aeronautics Ltd (HAL) a request for proposal (RfP) for 97 Tejas Mark 1A fighter aircraft. A HAL spokesperson has confirmed that the defence public-sector undertaking (DPSU) has been given three months to respond to the MoD’s RfP with a detailed proposal....
Bitcoin reclaims $70,000 level as halving is just around the corner
In the run-up to the bitcoin halving event, bitcoin prices regained $70,000 on Thursday in the international crypto markets. The most popular crypto token traded around $70,600, rising 4.5 per cent in the past 24 hours. Meanwhile, ethereum rose 3.4 per cent to trade at $3,552, Binance Coin rose 4.5 per cent to trade at $604, Solana spiked 6.26 per cent to trade at...
Sensex closes above 75k for the first time; investors earn over ₹2 lakh cr in a day
The domestic share market witnessed healthy buying across sectors on Wednesday, April 10, despite mixed global cues as investors awaited the US inflation numbers, due later today, to get cues on the US Fed interest rate trajectory. Indian stock market benchmark the Sensex closed above the 75,000 mark for the first time while the Nifty 50 also ended at its...
Robust economy fires up Indian equities; latest run up includes most sectors
Just a day after India’s stock market reached Rs 400 trillion in combined market capitalisation of all BSE-listed firms, the Sensex hit the 75,000-mark for the first time on April 9. NSE Nifty 50 also rose above 22,750 to hit a new high. The Sensex was up 382 points at 75,124.28 at open. The latest 5,000-point run in the index came...
Sensex Climbs 200 Points Hits 75k Mark For The First Time
Domestic benchmark indices Sensex and Nifty scaled fresh all-time highs on Tuesday led by buying action in IT and auto stocks. The BSE Sensex topped the 75,000 mark for the first time while its broader counterpart Nifty50 topped the 22,750 level. With the Q4 earnings season beginning this week, investors will be keenly eyeing that for further cues. Higher oil...
Vistara cuts 10% daily flights in April to stabilise its operations
Vistara announced on Sunday that it will be cancelling 10 per cent of its daily flights in April to provide a ‘much-needed buffer’ in pilot rosters. The airline typically operates about 350 flights daily. Since April 1, Vistara has been compelled to cancel over 150 flights, reportedly due to a specific faction of pilots unexpectedly calling in sick at the...
Gold prices soar to new high for seventh day in a row
Gold prices, on Thursday, soared to a new lifetime high of Rs 69,908 per 10 gm on India’s Multi Commodity Exchange (MCX) after the price of the precious metal scaled a new all-time high in the international market for the seventh consecutive trading day. Gold futures contract on the MCX for June 2024 expiry opened at Rs 69,868 per 10...
Vistara Flight Cancellations Escalate; Civil Aviation Ministry MonitorsOperations, Seeks Report
A day after cancelling up to 50 flights, Vistara on Tuesday morning called off at least 38 flights scheduled to take off from key cities due to shortage of pilots. The Civil Aviation Ministry has taken due note of the situation and is monitoring the operations of the airline. It has also sought a detailed report over the frequent delays...