Goa Chief Minister Pramod Sawant on Tuesday said that the first Vande Bharat Express launched in Goa today will improve faster connectivity of the State with Mumbai and also boost tourism and trade.
"I am very grateful to PM Modi and Ashwini Vaishnaw for running the Vande Bharat train in the state. The PM will flag this virtually. This (Vande Bharat train) will definitely help in the faster connectivity of Goa with Mumbai which will boost tourism and trade," Pramod Sawant said ahead of the ceremony to flag off the five Vande Bharat express trains from Bhopal.

Gold price declined Rs 310 in Saturday's early trade, with ten grams of 24-carat gold trading at Rs 60,440 according to the GoodReturns website. Silver price, on the other hand, rose Rs 600, with 1 kg of the precious metal selling at Rs 79,000.

The price of 22-carat gold dipped Rs 300, with the precious metal selling at Rs 55,400.

JSW Steel reported on Friday a 179 per cent year-on-year (YoY) rise in consolidated net profit at Rs 2,338 crore in the June quarter (Q1 FY24) on the back of higher sales and lower raw material cost. Net profit was Rs 838 crore in the year-ago period.

Consolidated revenue from operations was at Rs 42,213 crore, higher by 10.83 per cent as sales increased. Steel sales in Q1 FY24 stood at 5.71 million tonnes (mt), higher by 27 per cent YoY.

Prime Minister Narendra Modi will distribute more than 70,000 appointment letters to newly inducted recruits in government departments under the Rozgar Mela on Friday via video conferencing. The event will start at 10:30 am.

According to the Prime Minister's Office (PMO), the Rozgar Mela will be held at 44 locations across the country. The recruitments will take place across "central government departments and state governments/ union territories supporting this initiative".

Subhash Chandra is in talks with JC Flowers Asset Reconstruction Co (ARC) to buy back his family's shares in Dish TV for Rs 1,500 crore, Mint reported on Friday. With JC Flowers ARC's 24.19 per cent stake in the company, Chandra's total holding in the satellite TV operator will rise to 28.2 per cent, if the transaction goes forth.

Among the things Chandra has moved to regain are shares of Zee Learn and three properties including a Rs 2.8 crore bungalow in central Delhi.

Utkarsh Small Finance Bank (SFB) made a strong stock market debut on Friday, with its shares getting listed at Rs 40 apiece, a staggering 60 per cent premium over its issue price of Rs 25 per share on the National Stock Exchange (NSE). The stock opened at Rs 39.95 on the BSE.

At 10:02 AM, Utkarsh SFB was quoting at Rs 38.60, 54 per cent higher than the issue price on the NSE and BSE. The stock hit a low of Rs 37.20 in the intra-day trade. In comparison, the benchmark indices, Nifty 50 and S&P BSE Sensex, were down 0.7 per cent.

Bain Capital is the front-runner to take a majority stake in Adani Capital in a deal valued at around Rs 1,500 crore, Financial Express (FE) has reported. The deal is likely to be announced soon.

Private equity firms like Carlyle Group and Cerberus Capital Management are also in the race. The development is a result of Adani group's head Gautam Adani's decision to exit from non-core businesses and use this capital for his core ventures, people in the know told the newspaper.

Union Bank of India’s net profit more than doubled year-on-year (YoY) to Rs 3,236 crore in the quarter ended June 30, 2023 (Q1FY24) over rise in net interest income (NII), non-interest income, and a fall in provisions for bad loans.

Sequentially, the public sector lender’s profit went up 16 per cent from Rs 2,782 crore in Q4 FY23. Its stock closed 2.3 per cent higher at Rs 86.95 a share on the BSE.

Dr Reddy's Laboratories surged 2.6 per cent to hit a fresh 52-week high at Rs 5,360 in intra-day deals on Thursday after the company received 'clean chit' post the United States Food & Drug Administration (USFDA) routine inspection at the Andhra Pradesh (AP) facility.

At 10:40 AM, the stock quoted at Rs 5,346, up 2.4 per cent on the BSE as against a 0.1 per cent decline on the BSE benchmark index.

As Adani Group looks to raise funds from Indian banks after a major blow from the allegations made in the Hindenburg Research report, a consortium of banks led by the State Bank of India (SBI) has agreed to finance a substantial part of the Adani Group's Rs 34,000-crore polyvinyl chloride (PVC) project in Mundra, The Hindu Businessline (BL) has reported.

With credit support from SBI, the PVC project is set to achieve financial closure by the middle of August. The funding for the first phase of the project will be taken by the public sector banks which will pick up the bulk of the tab of around Rs 14,500 crore.

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