BILKUL BAZAAR— The Daily News Wrap
Bilkul Bazaar
National Business News Highlights
1. RBI raises repo rate to 5.50%
The Reserve Bank of India raised the repo rate by 25 basis points to 5.50%, marking its first rate hike in nearly four years.
2. Sensex plunges over 1,000 points
Indian equity markets witnessed a sharp sell-off, with the Sensex falling more than 1,000 points and the Nifty declining over 370 points amid rate-hike and global market concerns.
3. TCS reports strong Q2 profit
Tata Consultancy Services reported a 15% year-on-year rise in second-quarter net profit to ₹13,884 crore, while its AI-related annualised revenue crossed $3 billion.
4. TCS announces ₹12 interim dividend
TCS declared an interim dividend of ₹12 per share following its September-quarter results.
5. Rupee weakens further against US dollar
The Indian rupee fell to around ₹96.8 against the US dollar amid pressure from higher crude prices and global market volatility.
6. Banks raise lending rates after RBI move
Several public-sector banks moved to increase lending rates following the RBI’s repo-rate hike, potentially raising borrowing costs for customers.
7. IPO activity remains strong
Several SME companies made their market debuts, while new IPO proposals and fundraising plans continued to emerge in India’s primary market.
8. Jio outlines major satellite connectivity plans
Jio announced plans involving a large satellite network and ground infrastructure as it looks to expand high-speed connectivity across India.
9. Brigade Group announces ₹40,000 crore investment plan
Brigade Group outlined plans to expand its development footprint significantly, with investments of around ₹40,000 crore planned across projects.
10. Vedanta announces first interim dividend after demerger
Vedanta announced its first interim dividend following its corporate restructuring, marking an important step in the company’s post-demerger financial strategy.
International Business News Highlights
1. Oil prices surge above $105 a barrel
Brent crude climbed above $105 a barrel as concerns over Middle East supply disruptions and attacks on shipping intensified.
2. Global stock markets come under pressure
European and Asian markets weakened while US equity futures also declined as rising oil prices and higher bond yields increased inflation concerns.
3. Samsung forecasts massive profit jump
Samsung Electronics reported a huge increase in quarterly operating profit, helped by strong demand for artificial-intelligence chips.
4. WTO raises global trade growth forecast
The World Trade Organization raised its forecast for global merchandise trade growth this year to 3.9%, citing strong AI-related investment and resilient supply chains.
5. IMF warns of global risks from oil, debt and AI
The IMF warned that high energy prices, record government debt and an uneven artificial-intelligence boom could create significant risks for the global economy.
Daily Quote of the Day
“In the middle of difficulty lies opportunity.”
— Albert Einstein
Note: You can support us by sponsoring this column. Write at infobilkul@gmail.com Thank You