Indian Stock Market News 4th September 2024
Ghaziabad faces an imminent solid-waste management crisis with the saturation that has piled up at the solid-waste processing site situated at Pipeline Road, near Jagjiwanpur. This pressing dumping ground facility, in Jadarpur village near Pipal Kheri, has grown nearly 30 meters high. With this site reaching its threshold, Ghaziabad Municipal Corporation’s waste processing vendor has asked for an intervention with fire-fighting measures to extend the usability of the site for the next four months.
The Pipeline Road facility was adopted after the earlier facility in Morta was shut down in July last year following local objections. Morta had about 96,000 metric tonnes of solid waste, out of which almost 92,000 metric tonnes were remediated prior to its closure. The new site currently processes around 1,600-1,800 metric tonnes of garbage every day. Of this, 150 metric tonnes come from colonies under Ghaziabad Development Authority. However, the local villagers of the Pipeline Road facility also say that the plant should be relocated. The residents of the affected villages met District Magistrate Indra Vikram Singh on July 18 and briefed him about their problems.
Geron Engineering, the company operating the processing of waste, in its letter to the municipal corporation, has stated that the corporation is facing saturation in regard to its capacity for waste handling and accordingly, the corporation is dumping the same on the roadside as it lacks space for the same. The situation demands urgent attention to prevent further environmental and health hazards.
The attack on the Securities and Exchange Board of India, headed by Chief Madhabi Puri Buch, ensues after a group of officials wrote to the Finance Ministry on a toxic work environment. The letter-which reportedly says that harsh language, impossible targets, and micromanagement have become routine at the regulator-is titled “Grievances of SEBI Officers-A Call for Respect.”.
This unprecedented complaint describes the themes of public humiliation in the meetings, wherein top management is using unprofessional language and stringent monitoring of employees’ movements. She noted how mental health and work-life balance have been damaged to the maximum in her letter, reflecting that people are not “robots with a knob” in order to increase their output according to discretion.
These allegations, SEBI claims to have changed the format of review meetings. Thus, according to them, problems regarding the environment of the meetings have been overcome. But the letter written by the officials of SEBI gives a grim picture of a kind of leadership style that has left the employees demoralized and dissuaded from speaking up for apprehension of retaliation.
Adani Enterprises Ltd said it would launch its first-ever bond issue to individual investors on Wednesday in a bid to raise up to 8 billion rupees. The conglomerate has been trying to expand its funding resources after a dramatic short seller attack last year.
It is a strategic deal for the group, wherein 60 percent of the issuance is kept for high-net-worth individuals and retail investors, 30 percent for non-institutional investors such as corporations, and the remaining 10 percent for institutional buyers. The bonds come in two-, three-, and five-year maturities, offering yields between 9.25 percent and 9.90 percent. Major proceeds from the Offering would go to the prepayment or repayment of debt of the Company, while the rest is intended for general corporate purposes.
This follows the bond issuance taken as a test of investor confidence in the Adani Group following the fallout from the report of Hindenburg Research back in January 2023, which alleged corporate malfeasance against the group. The group has denied allegations, but the report sent Adani’s shares and bonds tumbling down. Success in this bond sale is expected to be judged on the post-issuance valuation for any signs of group recovery and investor sentiment.
Elon Musk’s satellite internet service, Starlink, would block access to the social network X after a court decision in Brazil. It had earlier changed tack and bowed to an order by Brazil’s top court to do so after initial resistance that included freezing the bank accounts of the company.
Justice Alexandre de Moraes from the Supreme Court of Brazil has issued this ban against X over the ongoing war against disinformation. The fight escalated to include Starlink after X failed to pay the fines imposed by the court. The judge also ordered the freezing of assets, including bank accounts, real estate, vehicles among other Starlink possessions in Brazil.
But Starlink, while being judicially and financially arm-twisted, took to X to say it complied with the order, although it, too criticized the freezing of its assets as illegal. The ruling marks a watershed moment in the ongoing battle by the judiciary in Brazil against technology companies over the proliferation of misinformation.
Nvidia, the biggest artificial intelligence and semiconductor company, suffered the largest one-day loss of market value, sliding $279 billion as shares fell 9.5%. The historic decline came as part of a broader market selloff after disappointing economic data pushed back against investor sentiment toward AI technologies that have powered much of this year’s stock market gain.
Its sharp fall came after Nvidia’s quarterly forecast missed lofty investor expectations. A group that almost tripled in market value earlier in the year – with a number of analysts then calling for the shares to continue to soar as demand for its chips soared – now raises questions on how much revenue tied to AI will justify large capital investments made in the sector.
This loss now tops the previous record for the largest one-day market value decline, set by Meta Platforms in February and underscores how volatile the technology-driven market has now become.
Japanese stocks slumped after Wall Street endured its worst rout since Aug. 5, led by technology shares. The Nikkei 225 Stock Average plunged up to 3.3%, the biggest drop since the market meltdown in August, while the broader Topix index fell around 3%.
The decline was deepened by a strong yen, which leaped around 1% against the dollar, as investors made new bets against the earnings outlook for exporters. Japanese banks were also victimized by selling after long-term U.S. Treasury yields plunged, on speculation that the Federal Reserve may cut interest rates in its battle to beat off recession.
Still, some analysts see this selloff as an opportunity to buy into the market, particularly with an impending leadership election in the ruling Liberal Democratic Party, which can substantially affect market sentiment. Business data from Japanese companies are generally healthy and optimistic for investors in the long run.
One of India’s largest pharmaceuticals company, Cipla informed that MK Hamied has resigned as its Vice Chairman and Non-Executive Director with effect from October 29 owing to advanced age and health-related issues. Hamied said, “It is with a tinge of sadness that I step down while at the same moment reiterate my commitment to Cipla.
Cipla’s board has agreed to Kamil Hamied’s appointment, son of Hamied, as Non-Executive Director, effective November 1, 2024. It marks the beginning of a new chapter in the stewardship of the company, with the baton passing to a new generation of the Hamied family leading Cipla since inception.
The retirement of MK Hamied from Cipla, one of the largest pharmaceutical companies of the world, marks an important juncture. Accordingly, his resignation came at a time when the company was facing some challenges and opportunities thrown up by the ever-evolving healthcare sector.
The World Bank has upgraded its estimate for India’s economic growth in FY25 to 7 per cent from 6.6 per cent. The upgrade reflects the strong momentum of the country’s economy, even as world growth remains below pre-pandemic levels.
World Bank Country Director for India Auguste Tano Kouame said that the Indian economy was on a sounder growth path, building upon past gains. According to the report, while global economic growth is likely to be muted, India’s medium-term growth rate will remain robust at an average of 6.7% over the next two fiscal years.
However, the report also notes that challenges include job creation, since urban unemployment rates stand high at an average of 17%. Private investment is seen gradually increasing to support a consumption recovery and help sustain economic growth, according to the World Bank.
Bollywood’s sweetheart Anushka Sharma marked her stylish return to the city after attending to her family in London. On Wednesday, Anushka was clicked at the Mumbai airport and raised several eyebrows for her all-black chic outfit.
All Anushka had put on at the airport to look stylishly comfortable was a black teeshirt with a similar-coloured open-buttoned jacket with a balloon hemline. She completed the simple outfit with loose black pants that had a fitted detailing at the waist, black flats, and minimum accessories-rectangle sunglasses and simple stud earrings.
Her glowing skin and effortlessly pulled look have served as yet another style inspiration for fans who would swoon over her latest look. Anushka’s return to Mumbai was reportedly because of an event organized by a particular brand, adding to the frenzy among her followers.
Fashionista Ananya Panday has been giving mixed vibes with her latest outfit choice. Busy promoting her new OTT series titled “Call Me Bae,” the “Liger” actress was spotted donning a black mini, which didn’t quite impress her fans.
While Ananya gets a lot of praise for her stylish looks, this dress simply didn’t impress many, drawing comparisons to internet sensation Uorfi Javed’s bold fashion choices. Social media was full of comments over the dress, and some of them even joked that Ananya had finally donned a dress like Uorfi’s signature style.
The mixed reviews notwithstanding, Ananya’s fashion choices remain in the news, with her promotional appearances making quite a splash online.
Exercising in the morning is considered by many to be one of the best ways to begin a day, but it is also an excellent means of receiving many health benefits that are independent of weight reduction. According to recent studies, working out between 7 and 9 am can be particularly effective for those looking to shed pounds. But the advantages of morning exercise extend far beyond that.
Early morning work-outs tend to bring about great clarity of mind, an extremely enhanced mood, and a good energy level during the day. In addition, workouts can regulate sleep patterns so that it is easily possible to wake up early in the morning and get on with the daily routine. The endorphin boost from the morning workout gets the tone of the day correct, minimizes stress levels, and improves general well-being.
These benefits certainly give a great drive to getting up those few minutes earlier and doing some morning exercise.
Saina Nehwal is one of the most decorated badminton players in India. She has hinted at the fact that her career is coming to a close because of arthritis in her knees. In an interview with a podcast recently, the legendary Indian shuttler revealed that her condition has turned worse, and it is really hard to train at the required level to compete with the best in the world.
Arthritis, considered for long as an elderly disease, is now striking down even much younger people, including athletes like Saina. The ailment has caused severe pain and discomfort, especially in the weight-bearing joints of the knees. Saina says she is not in a position to train as many hours as she used to, and will have to retire early.
The news has brought into focus how arthritis can batter the young adult segment, with experts saying that the condition can make a dent in the quality of life and even affect career possibilities. Saina’s frankness about her health problems has triggered a debate on the imperative need for young persons with arthritis to be adequately managed and treated.
13. Rishi Kapoor’s Daughter Riddhima Remembers Her Father on His Birth Anniversary
On the 72nd birth anniversary of late Bollywood actor Rishi Kapoor, his daughter Riddhima Kapoor Sahni took to social media and paid a heartwarming tribute to him. She remembered her father as Riddhima shared a picture from one of his birthday celebrations, stating how she misses him being around to celebrate with his grand-daughters.
Riddhima shared a photo of Rishi Kapoor, about to cut a birthday cake, with her daughter Samara sitting on his lap. She captioned the post, “Happy birthday, Papa. how I wish you were here celebrating your special day with both your grand daughters. your ‘bandari’ Sam is all grown up and baby Raha is the cutest is mini You.”
The emotional tribute was also shared by Rishi’s wife, Neetu Kapoor, who shared a repost of the message on her Instagram Stories. The late Rishi Kapoor, who breathed his last in 2020, is still one of the most loved personalities of Indian cinema, and tributes from his family keep coming as a dear memory among their fans.
Shraddha Kapoor became the second most followed Indian celebrity on Instagram, surpassing Priyanka Chopra, which the latter acknowledged very sportingly. Shraddha’s followers increased in the wake of her recent film “Stree 2” minting ₹401 crore worldwide within a week of release.
Over the feat, Shraddha took to Instagram to which Priyanka replied with raised hands and red heart and fire emojis to show her support for the younger actress. The rise has taken Shraddha to 92.7 million followers on Instagram, just a step behind Indian celebrity Virat Kohli.
Priyanka’s warm response to Shraddha’s achievement is proof that camaraderie between the two stars is going great as they were fighting for dominance on social media.
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Krystyna Pyszkova, Representing The Czech Republic, Crowned Miss World 2024!
Source: Google
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