Author: Supriya Jena

  • Sugar Stocks Rally as Nifty and Sensex Climb: Key Winners and Losers

    Sugar Stocks Rally as Nifty and Sensex Climb: Key Winners and Losers

    However, some companies lost value. Dalmia Bharat Sugar dropped by 1.30%, and Kothari Sugars fell by 0.69%.

    Overall, the Nifty50 index ended the day up by 181.11 points at 24,457.15. The BSE Sensex also performed well, closing up 597.67 points at 80,845.75. Some top gainers in the Nifty pack included Adani Ports (up 6.0%), NTPC (up 2.59%), and Adani Enterprises (up 2.33%).

    On Tuesday, many sugar companies saw their share prices go up! Balrampur Chini Mills Ltd. increased by 2.85%, and Bajaj Hindusthan Sugar Ltd. followed closely with a 2.77% rise. Other gainers included EID Parry (up 2.20%), KCP Sugar (up 2.14%), and Uttam Sugar (up 1.78%).

    On the flip side, Bharti Airtel fell by 1.41%, and Hero MotoCorp decreased by 1.09%.

  • 1.45 Crore Registrations Under PM Surya Ghar Muft Bijli Yojana!

    1.45 Crore Registrations Under PM Surya Ghar Muft Bijli Yojana!

    The PM Surya Ghar Muft Bijli Yojana is making waves! Recently, a government report revealed that about 1.45 crore people have signed up for this scheme, and they’ve completed around 6.34 lakh solar panel installations on rooftops. The goal of this project is to set up 1 crore solar rooftops in homes by the year 2027, with a budget of ₹75,021 crores.

    According to Union Minister Shripad Naik, the scheme has recorded 1.45 crore registrations and 26.38 lakh applications, with 6.34 lakh solar panels already installed. Such projects aim to help families save on electricity costs and promote green energy.

    As of now, the government has issued subsidies to 3.66 lakh applicants, which are processed quickly within 15 to 21 days. When it comes to solar panel installations, Gujarat is leading the way with 2,86,545 installations, followed by Maharashtra with 1,26,344, and Uttar Pradesh with 53,423. The ministry is working closely with various groups like REC, DISCOMs, and vendors to solve any issues that might come up during the project.

    This initiative is not just about saving money; it’s about making a cleaner and greener planet for everyone.

  • Gold Prices Fall Again, Silver Surges: Understand the Trends!

    Gold Prices Fall Again, Silver Surges: Understand the Trends!

    Gold prices fell for the second day in a row, dropping by Rs 200 to Rs 79,000 for every 10 grams in the national capital, according to the All India Sarafa Association. On Monday, gold was priced at Rs 79,200 for the same amount.

    In contrast, silver prices jumped up by Rs 2,400, reaching Rs 92,400 per kg, up from Rs 90,000. Traders say the rise in silver prices is mainly due to its demand in industries.

    Gold with 99.5% purity also dropped by Rs 200, closing at Rs 78,600 for 10 grams, down from Rs 78,800 on Monday. In futures trading on the Multi Commodity Exchange (MCX), gold for February delivery went up by Rs 146, or 0.19%, to Rs 76,833 per 10 grams. Meanwhile, silver for March delivery increased by Rs 1,251, or 1.38%, to Rs 92,061 per kg.

    Around the world, Comex gold futures rose by $7.40, or 0.28%, reaching $2,665.90 per ounce. Just the day before, gold and silver prices were highly influenced by a stronger dollar after U.S. President Donald Trump threatened to impose heavy tariffs on BRICS countries. This news worried traders and pushed the dollar up, also causing the Indian rupee to weaken significantly.

    Gold’s safe demand was affected by signs of a hold in the Israel-Hezbollah ceasefire, but tensions between Russia and Ukraine still encouraged some buying of gold. Chintan Mehta, the CEO of Abans Holdings, mentioned that gold prices stayed steady because of better-than-expected U.S. manufacturing PMI data, which helped boost the dollar’s strength. He also noted that Christopher Waller, a U.S. Federal Reserve governor, is still hopeful about falling inflation and a strong job market, hinting at possible interest rate cuts in December.

    In the Asian market, silver is trading 1.93% higher at $31.46 per ounce.

  • Amagi Acquires Argoid AI to Revolutionize Streaming Services

    Amagi Acquires Argoid AI to Revolutionize Streaming Services

    Amagi, a successful tech company based in Bangalore, has just bought Argoid AI, a company that specializes in using artificial intelligence (AI) to help streaming services recommend shows and schedule content automatically. This acquisition will help Amagi provide smarter tools for media companies to plan, share, and earn money from their content.

    Argoid AI is famous for creating advanced AI tools that make finding and watching content easier for viewers. By combining their technology with Amagi’s existing services—like Amagi NOW and CLOUDPORT—Amagi hopes to offer better, faster, and more personalized choices for media companies.

    Baskar Subramanian, Amagi’s CEO, said, “We’re excited to use Argoid’s AI technology to make our cloud solutions even better for our customers.” Together, the two companies plan to tackle common challenges in streaming, such as helping viewers find the content they want and keeping them engaged.

    The deal brings Argoid AI’s talented engineers and creators into Amagi. The founders—Gokul Muralidharan, Soundararajan Velu, and Chackaravarthy E—will help guide the future direction of Amagi’s technology. Gokul Muralidharan stated, “We’re excited to join Amagi, a leader in media technology. This partnership will help us deliver even better solutions for our customers.”

    Amagi helps various famous brands like A+E Networks UK, NBCUniversal, and more to create, distribute, and profit from their channels more easily.

  • Stock Market Update: Nifty Drops, Sensex Rises with Key Movers

    Stock Market Update: Nifty Drops, Sensex Rises with Key Movers

    NEW DELHI: Today, several stocks hit their lowest prices in a year, including Aki India, C.E. Info Systems, Dhanvarsha Finvest, Akshar Spintex, and GIR Natureview. The main stock market index, NSE Nifty, dropped by 181.11 points, finishing at 24,457.15. However, the BSE Sensex saw a nice rise, closing up by 597.67 points at 80,845.75.

    On a positive note, some stocks reached new highs today. These include Madhav Copper, BSL Ltd, Enviro Infra Engineering, Dharamsi Morarji, and Banaras Beads. Among the winners in the Nifty 50 index were Adani Ports SEZ, NTPC, Adani Enterprises, L&T, and SBI.

    However, not all stocks performed well. Top losers today were Bharti Airtel, Hero MotoCorp, ITC, HDFC Life, and Sun Pharma.

  • Villagers Cancel Re-Election Amid EVM Controversy in Maharashtra

    Villagers Cancel Re-Election Amid EVM Controversy in Maharashtra

    A group of villagers in Markadwadi, Maharashtra, wanted to hold a new election using paper ballots after the recent assembly polls. However, they decided to abandon their plans after police warned them about possible legal trouble.

    The villagers believed their winning candidate, Uttam Jankar of the NCP (SP), didn’t get enough votes in their village. During the voting, Jankar received only 843 votes compared to his rival, BJP’s Ram Satpute, who got 1,003 votes. This made the villagers suspicious of the Electronic Voting Machines (EVMs).

    To prevent any conflicts, local officials banned voting from December 2 to 5. When the villagers tried to prepare for the new voting, police arrived and warned them that even casting one vote could lead to serious consequences. Jankar met with police and villagers to discuss the situation. After hearing the police’s warning that they would confiscate materials for the polling, the villagers decided to cancel the voting.

    Despite this setback, Jankar and the villagers plan to continue their fight for fairness by taking their concerns to the Election Commission and the courts. One villager reported that of the 2,000 eligible voters, about 1,900 voted, but they are worried that the EVM results are not accurate.

    In the recent Maharashtra elections, the majority party, Mahayuti, won 230 out of 288 seats, while Jankar’s NCP (SP) got 41 seats and the opposition managed only 46 seats.

  • Bulgari Shifts Focus to India as China’s Luxury Market Declines

    Bulgari Shifts Focus to India as China’s Luxury Market Declines

    Bulgari, the famous Italian brand known for luxury jewelry, watches, and perfumes, is setting its sights on India for growth. The company’s CEO, Jean Christophe Babin, shared in an interview that as demand in China declines, India presents a big opportunity.

    Recently, Bulgari launched its first online store in India with Tata CLiQ Luxury. Babin believes India is a strong market for luxury goods, especially compared to other regions facing challenges. He noted that China’s luxury market has matured, leading to slower growth as the economy faces issues like a real estate crisis.

    Luxury brands, including Bulgari, are looking to countries outside China to continue expanding their businesses. This strategy, called “China+1,” is gaining popularity among global companies trying to diversify after difficulties caused by COVID-19 and geopolitical issues.

    Many luxury companies, like LVMH (which owns Bulgari), have seen sales drop in China due to economic struggles. Reports indicate that discounts on luxury items have reached up to 50% as Chinese consumers are now more cautious with their spending. Even well-known brands are feeling the impact, with billions lost in market value.

    While the luxury market in China is declining, India is experiencing an upswing in luxury demand. The wealthy class in India continues to grow, with a new billionaire added every five days. This trend is also spreading to smaller cities where people are becoming more affluent and willing to spend on luxury goods.

    According to reports, the number of wealthy individuals in India is increasing rapidly, and many global luxury brands are now focusing on India as a main market. As luxury demand rises in India, it offers a promising future for brands like Bulgari.

  • Kolkata Tea Prices Jump 18%: What’s Driving This Surge?

    Kolkata Tea Prices Jump 18%: What’s Driving This Surge?

    Kolkata’s tea prices have gone up by 18% from January to October this year compared to last year. The reason for this increase is that tea production has dropped significantly—by about 66.39 million kilograms, leading to a total of 1,112.11 million kilograms produced this year.

    During a recent meeting between Assam tea growers and Union Minister Piyush Goyal, he emphasized the importance of producing high-quality tea and following health and safety rules. He urged the Food Safety and Standards Authority of India (FSSAI) and state governments to keep a close watch on these standards. The Minister also mentioned that there would be no extension allowed for tea plants to stay open after November 30, 2024, although top-quality tea producers could apply for special exceptions according to the Tea Board’s rules.

    Another important point discussed was the need to control too much tea in the market so that prices don’t fall too low. The meeting also highlighted that selling 100% dust-grade tea through auctions will continue. This measure has helped keep the prices of dust-grade tea steady after the auction process changed.

    With production set to stop after December 1, 2024, India’s overall tea production is expected to be less than last year. Bad weather in Assam and West Bengal has led to a drop in crop yields. While tea prices have risen recently, the lower production has affected earnings across the industry. The India Tea Association is worried that prices might drop in November compared to September, with prices falling between Rs 15 to Rs 40 per kilogram in auction centers across North India

  • Supreme Court Delays Death Sentence in Shocking Jharkhand Rape-Murder Case

    Supreme Court Delays Death Sentence in Shocking Jharkhand Rape-Murder Case

    New Delhi: The Supreme Court has temporarily stopped the death sentence of a 30-year-old man named Rahul Kumar, who was found guilty of raping and killing a 19-year-old engineering student in Ranchi, Jharkhand. A group of judges, Justices Surya Kant, Pankaj Mithal, and Ujjal Bhuyan, have requested the trial and high court documents in their translated form. This means that the death penalty is on hold for now.

    On September 9, the Jharkhand High Court confirmed the death sentence handed down to Kumar by a lower court. The horrifying crime happened on December 15, 2016. Three years later, in December 2019, Kumar was sentenced to death.

    The High Court described the case as extremely shocking, saying that a promising young woman’s life was taken in a terrible way. The court shared details from the autopsy report, which provides evidence of the brutal act. Kumar had planned the crime, bringing tools like an electric wire to strangle the victim and lubricant oil to set her body on fire afterward.

    The judge noted that the strangulation was so severe that the wires embedded into her neck. After committing the crime, Kumar fled the scene. The High Court criticized him, saying that the crime was not a sudden act but something that was carefully planned.

  • India’s GST Hike: Fizzy Drinks to Face 35% Tax Increase!

    India’s GST Hike: Fizzy Drinks to Face 35% Tax Increase!

    On Monday, a group in charge of deciding taxes in India agreed to raise the tax on fizzy drinks to 35% from 28%. This change is aimed at making unhealthy items that are often linked to health problems, like cigarettes and tobacco, more expensive. The final choice about these new taxes will be made by a meeting of top government officials on December 21.

    Right now, India has four tax levels: 5%, 12%, 18%, and 28%. The new 35% rate will be added for these unhealthy items. Currently, items that are considered necessary, like food, either have no tax or a very low tax, while luxury items, like cars and washing machines, have higher taxes. The proposal would also mean a special rate of 35% on tobacco products and fizzy drinks.

    The news about higher taxes caused the shares of Varun Beverages, a major partner with PepsiCo in India, to fall by over 5%. Most of their money comes from selling fizzy drinks, which have been struggling because of the high taxes. Despite this, their shares have shown some growth over the last month and six months.

    A report showed that the high taxes in India make it hard for carbonated drinks to grow and reach their full business potential. Comparisons by the World Bank reveal that India has one of the highest total tax rates on sugary drinks, standing at 40% in 2023