Defence stocks have been on a slippery slope since the presentation of the Union Budget for 2024-25 (FY25). Shares of Garden Reach Shipbuilders & Engineers, for instance, have lost 26.9 per cent, while Cochin Shipyard is down 20.8 per cent since the Union Budget presentation (July 23). BEML has dropped 15.3 per cent, Mishra Dhatu Nigam 13.2 per cent, and DCX Systems 13.4 per cent, according to ACE Equity data.

Energy-to-telecom conglomerate Reliance Industries at its annual general meeting on Thursday made several key announcements, including a proposal to issue 1:1 bonus shares, plans to rank among the world’s top 30 companies, and detailed timelines for its new energy business.

Its Chairman and Managing Director Mukesh Ambani, however, did not share any details on a potential listing of the company’s retail and telecom divisions, a key announcement that the market was hoping for.

Vice President Kamala Harris and her running mate, Minnesota Gov. Tim Walz, will sit down Thursday for their first major television interview of their presidential campaign as the duo travels in southeast Georgia on a bus tour.

The interview with CNN's Dana Bash will give Harris a chance to quell criticism that she has eschewed uncontrolled environments, while also giving her a fresh platform to define her campaign and test her political mettle ahead of an upcoming debate with former President Donald Trump set for September 10.

Reliance shares in focus:Reliance Industries (RIL) share price was up 0.64 per cent at Rs 3014.95 per share on the BSE ahead of its annual general meeting (AGM) on Thursday. At 10:13 AM; the share price was trading 0.31 per cent higher at Rs 3,005. By comparison, the BSE Sensex was trading 0.27 per cent higher at 82,006 levels.

The Central Government has proposed allowing the sale of raw sugar in the domestic market, a move that would overturn a regulation in place for more than six decades, which restricted the commodity’s sale exclusively for export, according to a report by The Economic Times. The proposal is part of the draft ‘Sugar (Control) Order, 2024’, issued by the Ministry of Consumer Affairs, Food, and Public Distribution.

IndiGo block deal: IndiGo share price today fell 2.9 per cent intraday to Rs 4,714.9 per share on the BSE on Thursday. The slide in indiGo share price came after nearly 22.65 million shares changed hands on the counter on the BSE amid block deals.

At 9:15 AM, a block of 22,652,485 shares changed hands on the BSE at a price of Rs 4,762.55 per share.

As many as 28 people lost their lives in rain-related incidents in Gujarat over the past three days.

Gujarat is facing severe flooding due to ongoing heavy rainfall, prompting the India Meteorological Department (IMD) to issue a ‘red alert’ for Thursday. The IMD has indicated that the deep depression over Saurashtra and Kachchh is likely to strengthen as it approaches the northeast Arabian Sea, potentially leading to more heavy rainfall in the region.

The Securities and Exchange Board of India (Sebi) plans to mandate the UPI block mechanism, also known as the ASBA-like facility, in the secondary market for Qualified Stock Brokers (QSBs).

QSBs are brokers with larger client sizes and thus more significance in the market ecosystem. Till now, the facility is mandatory only in the primary market (IPOs) and is currently optional for brokers to provide in the secondary market from January 2024.

Demanding enactment of stricter anti-rape laws by the Centre, TMC leader Abhishek Banerjee said he will move a private member's bill in the Lok Sabha.

The TMC national general secretary said that if the Centre "fails" to enact a stricter law that would ensure quick trial and sentencing of those found guilty, he will lead protests in Delhi.

Karnataka Home Minister G Parameshwara indicated on Wednesday that a delegation of ruling Congress legislators may meet President Droupadi Murmu to complain against Governor Thaawarchand Gehlot over his action of giving sanction for prosecution of Chief Minister in the Mysuru Urban Development Authority (MUDA) case.

He said a tentative plan has been made in this regard and a call is likely to be taken on the move after considering developments in the court.

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