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Ril hits new record high, Akasa Air launches next summer and more

As stock markets light up with new 52-week and all-time highs, the power situation, particularly in some parts of India, is cause for concern. Reliance Industries Ltd (RIL) shares rose two percent on Monday, hitting an all-time high of Rs 2,724.70 after the group announced two acquisitions over the weekend. Interglobe Aviation has rallied in the recent past, closing 4.7 percent in the green on Monday at Rs 2055 per share. For all of these stories and everything in between, here’s some top news of the day

ECONOMY / BUSINESS

Akasa Air, backed by Rakesh Jhunjhunwala, receives NOC from Ministry of Aviation; Flights from 2022

Akasa Air, the airline company sponsored by billionaire investor Rakesh Jhunjhunwala, has received clearance from the Ministry of Civil Aviation, the holding company SNV Aviation Private Limited announced on Monday. Continue reading

GST Breather for the gambling industry, casinos and racetracks in India

In a major development for the online gambling industry, casinos and racetracks in the country, the GST Secretariat has asked the GST Council to clarify the GST rate and the applicability of the levy to these services, sources told CNBCTV18. This follows a corresponding instruction from the Punjab Haryana High Court

Indian Economy Moving to Rapid Recovery: Treasury Department Report

Strategic reforms and the swift vaccination campaign have put the country on the path to rapid recovery by allowing the economy to weather “the devastating waves” of the COVID-19 pandemic, according to the Treasury Department’s monthly economic report. Sustained and robust growth in agriculture, strong rebound in manufacturing and industry, resumption of services and buoyant revenues suggest the economy is doing well, the September review said. Continue reading

MARKETS

RIL reaches new record high in green push; Shares up 2% on acquisition of REC Solar, Sterling & Wilson

Reliance Industries Ltd (RIL) shares rose two percent on Monday, hitting an all-time high of Rs 2,724.70 after the group announced two acquisitions over the weekend. RIL was also the largest contributor to Nifty’s profits today, offsetting the losses of TCS and Nifty IT. Continue reading

Kotak Institutional Equities Raises Interglobe Aviation Price Target; here is the reason

Interglobe Aviation has rallied in the recent past, closing 4.7 percent in the green on Monday at Rs 2055 per share. Indigo’s parent company is up 8 percent last month and an impressive 30 percent in the past six months. The stock is now just 10 percent off its 52-week high of Rs 2,300. Continue reading

Sent before Mount 18k but ends at a record 17,946 as the market extends gains to day three; IT stocks collapse

Indian stock benchmarks climbed to new highs on Monday, extending their winning streak to the third straight trading session. Gains in banking, automotive, metals and consumer goods stocks drove the headline indices higher, but heavy losses in the IT basket limited the upside. Analysts were expecting more quarterly financial results from India Inc for domestic cues after TCS opened earnings season last week. Continue reading

WORLD

Who was Abdul Qadeer Khan, “Father of Pakistan’s Atomic Bomb”?

After India carried out a nuclear test in 1974, Khan reportedly wrote to then Pakistani Prime Minister Zulfikar Ali Bhutto, joining his country’s clandestine nuclear development efforts. Continue reading

China says it has carried out beach landing exercises in the province across from Taiwan

China’s military said Monday it was conducting beach landing and assault drills in the province directly across from Taiwan, although it did not associate the drills with current tensions with Taipei. Continue reading

Vietnam COVID-19 Curbs Hit Factories And Workers; Top brands suffer during the Christmas season

The COVID-19 pandemic has forced the Vietnamese government to close factories and disrupt global supplies of clothing, electronics, cars and shoes to some of the top brands in the US. Continue reading

INDIA

Home Secretary Amit Shah meets with power and coal ministers amid power failure concerns

Union Interior Minister Amit Shah held a meeting with Energy Minister RK Singh and Coal Minister Pralhad Joshi on Monday amid reports of ongoing coal shortages in the country. Continue reading

Stalemate in Ladakh: 13. Talks at commanders level between India and China cannot defuse border tensions

Talks between Indian and Chinese army commanders that took place on Sunday on the Chushul-Moldo border to withdraw troops from key areas of friction along their border have not eased the 17-month stalemate. Continue reading

Five army personnel killed in terrorist shootings in Poonch district

Five military personnel, including a Junior Commissioned Officer (JCO), were killed in a bitter shootout with terrorists during an anti-insurgency operation in the Poonch district of Jammu and Kashmir on Monday. Continue reading

You I

SBI customers can now submit their ITR free of charge via YONO; here is how

State Bank of India (SBI) customers can now file their income tax returns (ITR) for free via the bank’s YONO app. The largest lender in the country allows its customers to use Tax2Win through the app to file ITR. Continue reading

MG Motor enters the mid-size SUV segment; Astor launches at Rs 9.78 lakh

MG Motor India announced on Monday that it has launched a new Astor model priced between Rs 9.78 lakh and Rs 16.78 lakh (ex Showroom Delhi), putting it in the fast-growing mid-size SUV segment of the country advances. The model, which would compete with Hyundai Creta, Kia Seltos and Skoda Kushaq, has a personal AI assistant and the first autonomous technology (level 2) in its segment. Continue reading

(Edited by: Anshul, Aditi Gautam)

First published: October 11, 2021, 8:50 p.m.

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