The Ministry of Home Affairs on Friday granted the Central Bureau of Investigation (CBI) sanction to prosecute Rashtriya Janata Dal (RJD) leader and former Railway Minister Lalu Prasad Yadav in the land-for-job case.

The case involves alleged irregularities during Lalu Prasad’s tenure as Union Railway Minister from 2004 to 2009, during which jobs were reportedly offered in exchange for land parcels transferred or gifted to Lalu Prasad’s family or associates.

Indostar Capital Finance shares surged as much as 13 per cent on the BSE, clocking a 52-week high of Rs 339.7 per share on Friday. The rally in the stock came after the company's board approved the sale of its subsidiary, IndoStar Home Finance Private Limited (IHFPL) to WITKOPEEND B.V for an amount of Rs 1,750 crore.

However, the stock soon pared gains and at around 9:49 AM was up 4.08 per cent at Rs 313.65 per share on the BSE. In comparison, the BSE Sensex traded at 83,322.08, around 137 points higher around the same time.

The Adani Group has emerged as the frontrunner to acquire a 46.64 per cent promoter stake in ITD Cementation India, a move that is expected to bolster the infrastructure conglomerate’s in-house civil engineering expertise, according to a report by the Economic Times. If the acquisition goes through, it will be valued at Rs 5,888.57 crore (approximately $700 million), which includes a fully subscribed open offer to follow the promoter stake purchase.

The impact of the US Federal Reserve’s rate cut might be muted in India as much of it was already priced in, Chief Economic Advisor V Anantha Nageswaran said on Thursday.

Speaking on the issue, Economic Affairs Secretary Ajay Seth told reporters that the Fed rate cut would not have a significant impact on foreign inflows into India.

Anil Ambani-promoted Reliance Infrastructure (R-Infra)’s board on Thursday approved a preferential issue to raise Rs 3,014 crore through the issuance of up to 12.56 crore equity shares at a price of Rs 240 per share.

The company said the preferential issue will be made to Risee Infinity Private Limited, a promoter group company, and to other investors, namely Florintree Innovation LLP and Fortune Financial & Equities Services Private Limited, resulting in an increase in the promoters’ equity stake.

Coordinated attacks across Lebanon targeted communication devices, resulting in devastating consequences. In the latest attacks, at least 20 people lost their lives and over 450 were injured, authorities said, according to a report by Al Jazeera.

The latest attack comes just a day after 12 people were killed and more than 2800 others were wounded in a coordinated explosion of pagers in Lebanon.

US stocks shot higher on Wednesday after the Federal Reserve cut interest rates by 50 basis points, the high side of estimates for its first cut in more than four years.

Citing a "greater confidence" that inflation is moving towards the central bank's 2% target, the Fed cut rates by half of a percentage point, as it now focuses on keeping the labor market healthy.

Market capitalisation of major telecom service provider Bharti Airtel crossed Rs 10 trillion for the first time ever after the company's stock price hit a new high of Rs 1,673.35, gaining 1 per cent on the Bombay Stock Exchange (BSE) in Thursday’s intra-day trade.

The combined market cap of Bharti Airtel (Rs 9.52 trillion) and Bharti Airtel’s partly paid shares (Rs 49,526 crore) touched Rs 10.02 trillion in intra-day trade.

NTPC in focus: Share of the state-owned NTPC jumped as much as 4.34 per cent to hit a fresh all-time high of Rs 431.85 per share on Thursday, September 19, 2024. Notably, NTPC is the top gainer on both NSE and BSE.

The surge in the NTPC share price came after the company filed Initial Public Offering (IPO) papers for its green energy arm, NTPC Green Energy Limited (NGEL).

The rupee rose 6 paise to 83.70 against the US dollar in early trade on Thursday, reflecting strong investor sentiment after the US Federal Reserve decided to cut interest rate in line with market expectations.

The rupee also got support from lower crude oil prices, positive domestic equity markets as well as inflow of foreign funds, forex traders said.

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