Rail Vikas Nigam Limited (RVNL) has surpassed public sector undertaking (PSU) oil marketing company, Bharat Petroleum Corporation (BPCL) and lender, Punjab National Bank (PNB), in market capitalisation (market cap) ranking as the stock of the state-owned civil construction company continued its upward movement on strong order inflows from railways.

Shares of RVNL hit a new high of Rs 643.95 as they rallied 5.5 per cent on the BSE in Thursday’s intra-day trade after the company said it has received Letter of Acceptance (LoA) from Central Railway for “OHE modification work for Up-gradation of existing 1 x 25 kV Electric Traction System to 2 x 25 kV AT Feeding System in Amla-Nagpur Section in Nagpur division of Central Railway to meet 3000 MT loading target."

Former Reserve Bank of India (RBI) Governor Raghuram Rajan has called on India to prioritise the enhancement of its services sector over the expansion of manufacturing to achieve sustainable economic growth and create jobs. Speaking at the Annual World Bank Conference on Wednesday, Rajan argued that manufacturing is not the "holy grail" for India’s economic success.

Rajan highlighted that the manufacturing sector faced challenges due to limited export absorption and was no longer competing against high-cost labour in the US.

Eighteen people lost their lives and more than 30 were injured when a double-decker sleeper bus rammed into a milk container on the Lucknow-Agra Expressway in Unnao district, Uttar Pradesh, on Wednesday.

The incident occurred at 5:15 am.

Uttar Pradesh Chief Minister Yogi Adityanath expressed his condolences to the families of the deceased and instructed the district administration to ensure the injured receive proper treatment. He also wished for their speedy recovery.

After Prime Minister Narendra Modi met his Russian counterpart, Vladimir Putin, the White House Press Secretary Karine Jean-Pierre reiterated the US’s stance over the ongoing war in Ukraine and urged New Delhi to support international efforts for a peaceful resolution in the war-torn country, leveraging its longstanding relationship with Moscow to encourage President Putin to end the war.

Further speaking about the war, she emphasized that it is crucial for all allies, including India, to support efforts towards a peaceful resolution in Ukraine.

Markets regulator Sebi on Tuesday issued a circular outlining the filing requirements for alternative investment funds (AIFs) schemes that opt for a dissolution period to deal with their unliquidated investments.

The move aims to provide flexibility to AIFs and their investors in managing such investments that are not sold due to lack of liquidity.

The AAP on Tuesday claimed a "fake inquiry" has been ordered against its senior leaver Satyendar Jain in a graft case related to CCTV installation in the city "at the behest of the BJP" to stop the good work of the Arvind Kejriwal government.

Delhi Lieutenant Governor V K Saxena has approved a vigilance department recommendation for a probe against jailed former Delhi minister Jain for allegedly taking bribes to waive a penalty imposed on a company over a delay in the installation of CCTV cameras in the city.

The Union Budget for fiscal 2024-25 (FY25) will be presented on July 23, 2024. A lot of ink will focus on what the budget should include. However, here we focus on what the Budget is can exclude / avoid, and rightly so.

Most crucially, the government must abstain from fiscal profligacy in the upcoming Budget. The fiscal deficit must not be allowed to widen beyond the original target of 5.1 per cent of GDP for FY25. As a corollary to the latter, the market borrowings should not be increased beyond the previously announced figure for FY25.

India and Russia are looking to raise bilateral trade to $100 billion by 2030, balance the lopsided trade, eliminate non-tariff trade barriers, and explore the possibility of a Eurasian Economic Union (EAEU)-India Free Trade Area.

A joint statement issued after multiple rounds of talks between Prime Minister Narendra Modi and Russian President Vladimir Putin on Tuesday also announced that both nations plan to establish a bilateral settlement system using national currencies.

Congress leader and Leader of Opposition Rahul Gandhi is scheduled to visit Manipur on Monday. Security has been tightened in the Jiribam district of the state with authorities imposing a ban on aerial photography using drones, officials said. He is also scheduled to meet flood victims of Assam on Monday, party leaders said.

A notification by the Jiribam district magistrate on Sunday said as part of enhanced security measures, aerial photography or videography through drones, balloons, or any other means is strictly prohibited.

At least 131 wild animals have died so far in floods in the Kaziranga National Park while 96 others have been rescued, an official said on Monday.

The dead animals include six rhinos, 117 hog deer, including 98 by drowning, two by vehicle hits and 17 during treatment, two sambar, a rhesus macaque and an otter due to drowning in the park.

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