Purbalee Dutta, Author at Meghalaya Today

19Aug

By Purbalee DuttaNo Comments

Latest

Sensex Rises 450 pts & More

Equity benchmark indices climbed for the second consecutive session on Tuesday, driven by gains in auto stocks and Reliance Industries amid positive global sentiment. The Sensex rose 468.81 points (0.58%) to 81,742.56, while the Nifty gained 129.65 points (0.52%) to close at 25,006.60. Top gainers included Tata Motors, Reliance Industries, Adani Ports and SEZ, Bajaj Auto, and ETERNAL, with increases up to 4%. Key market drivers were: Auto shares jumped up to 6%, led by Ola Electric, Bajaj Auto, Hero MotoCorp, and others, boosted by reports of a possible GST cut on vehicles and China’s assurance to address rare earth magnet supply concerns. Reliance surged over 2% following Jio’s prepaid tariff changes and positive brokerage recommendations. Asian markets showed strength, ...

From HDFC Bank To ICICI Bank: These Banking, Financial Stocks Likely To Be In Focus Today

18Aug

By Purbalee DuttaNo Comments

Finance

From HDFC Bank To ICICI Bank: These Banking, Financial Stocks Likely To Be In Focus Today

Following credit rating upgrades by S&P Global Ratings, several banking and financial stocks, including HDFC Bank, SBI, and ICICI Bank, are expected to be in focus on Monday, August 18. On Friday, August 15, S&P upgraded the long-term issuer credit ratings of seven Indian banks—SBI, ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, Union Bank of India, and Indian Bank—just a day after raising India’s sovereign rating. Bajaj Finance, Tata Capital, and L&T Finance were also among the three financial institutions that received rating upgrades. A day earlier, S&P had upgraded ONGC, Power Grid, NTPC, and Tata Power to ‘BBB’ from ‘BBB–’ with a stable outlook. This marked India’s first sovereign upgrade from S&P since 2007, citing resilient growth and fiscal consolidatio...

LTIMindtree To Support AP’s Quantum Valley

12Aug

By Purbalee DuttaNo Comments

Latest

LTIMindtree To Support AP’s Quantum Valley

LTIMindtree, a technology consulting and digital solutions firm, has announced its collaboration with parent company Larsen & Toubro (L&T) and the Andhra Pradesh government to support the Amaravati Quantum Valley initiative. As part of this, LTIMindtree will establish a Quantum Centre of Excellence (CoE) within the valley. The CoE will focus on deep tech research, fostering quantum incubation and applied research that converts fundamental scientific advancements into practical industrial and societal applications. L&T will oversee the design, development, and management of the valley’s infrastructure, utilizing its large-scale construction expertise, according to a statement released on Monday. LTIMindtree confirmed its plans to work alongside the Andhra Pradesh government,...

11Aug

By Purbalee DuttaNo Comments

News

PG Electroplast Shares Fall 17%

Shares of PG Electroplast plunged another 18% on Monday, August 11, extending their 23% crash on Friday — the steepest single-day drop in the company's history. The continued sell-off followed disappointing June quarter earnings and a significant downgrade in full-year guidance. As a result, the stock has now lost nearly 50% year-to-date. Earlier in the day, around 1.04 crore shares, representing 3.7% of the company’s equity, were traded via multiple block deals at an average price of ₹500 per share, amounting to a transaction value of ₹526 crore. Despite the steep fall, brokerage firm Nuvama has retained its “buy” rating on PG Electroplast, though it slashed the price target by 35% to ₹710 from ₹1,100, implying a 25% upside from Friday’s closing. The brokerage also cut FY26 EPS ...

Trump Is Planning A Massive IPO Of The Government’s Mortgage Companies

9Aug

By Purbalee DuttaNo Comments

International

Trump Is Planning A Massive IPO Of The Government’s Mortgage Companies

President Donald Trump and his economic team are working on a potentially record-breaking stock sale of Fannie Mae and Freddie Mac—the government-backed mortgage firms that support the stability and affordability of the U.S. housing market. While the plan hasn’t been finalized, a senior official says the White House is considering an initial public offering (IPO) of up to 15% of the companies’ shares, which could generate around $30 billion, potentially the largest IPO ever. Trump has long considered taking the two firms public. His first administration attempted but failed to end their federal conservatorship, imposed during the 2008 financial crisis. Now, in his second term, Trump is revisiting the idea and has discussed it with top banking executives, including leaders at JPMorgan, ...

Gold Futures Hit Record High After Report Of US Tariffs On Gold Bars

8Aug

By Purbalee DuttaNo Comments

Cover story

Gold Futures Hit Record High After Report Of US Tariffs On Gold Bars

Gold futures surged to an all-time high on Friday following reports that the U.S. has imposed tariffs on imported 1-kilogram gold bars, while spot gold remained on track for its second consecutive weekly gain, driven by trade concerns and hopes of a U.S. interest rate cut. As of 03:05 GMT, spot gold was down 0.3% at $3,386.30 per ounce but had earlier touched its highest level since July 23. It has risen 0.7% this week. U.S. gold futures for December climbed 0.9% to $3,484.10 after reaching a record $3,534.10. The price gap between futures and spot widened over $100 after a report revealed that the U.S. had reclassified 1-kg and 100-ounce gold bars under a customs code now subject to higher tariffs—impacting Switzerland, the leading gold refining nation. The tariffs are expected to ...

LIC Ups Stakes In RIL, Infosys, Coforge; Trims HDFC, ICICI, Divi’s Labs In Q1

4Aug

By Purbalee DuttaNo Comments

India

LIC Ups Stakes In RIL, Infosys, Coforge; Trims HDFC, ICICI, Divi’s Labs In Q1

During the June 2025 quarter, Life Insurance Corporation of India (LIC), the country’s largest state-owned insurer, played a key role in supporting Indian equity markets amid volatility. LIC made net equity purchases worth over Rs 25,000 crore, increasing stakes in 94 companies while reducing holdings in 72. By June-end, LIC’s portfolio included 345 listed stocks valued at Rs 16.84 lakh crore, up 10% from Rs 15.26 lakh crore in March. Significant additions included Reliance Industries (2.56 crore shares worth Rs 3,840 crore), Info Edge India, and Tata Consultancy Services, with purchases valued at Rs 3,285 crore and Rs 2,890 crore, respectively. Other notable buys were Coforge, Infosys, Hindustan Unilever, HCL Technologies, Tata Motors, and Larsen & Toubro. On the sell side, LIC...

Shillong Ropeway Project Hit By PIL On Felling Trees

30Jul

By Purbalee DuttaNo Comments

News, Shillong

Shillong Ropeway Project Hit By PIL On Felling Trees

A Public Interest Litigation (PIL) filed in the Meghalaya High Court has stalled progress on the Shillong Ropeway Project due to concerns over tree felling in the Lawsohtun area. A state-level committee informed the court that numerous trees were cut down in East Khasi Hills’ Raid Laban Reserve Forest to make way for the Shillong Peak Ropeway Cable Car Project, initiated by the Tourism Department. Tourism Minister Paul Lyngdoh responded to the court's concerns, stating that the government had secured all required clearances, including permission from the Ministry of Environment, Forest, and Climate Change, prior to starting work. He emphasized that the project adhered to legal requirements and that the court had been duly informed of the approvals. Lyngdoh added that afforestation w...

25Jul

By Purbalee DuttaNo Comments

News, northeast

Meghalaya Heightens Border Vigilance

Amid ongoing eviction drives in Assam, Meghalaya Chief Minister Conrad K. Sangma on Thursday directed all district deputy commissioners—particularly those in border areas—to remain on high alert and report any cross-border movement immediately. Speaking after a high-level review meeting, Sangma stated that instructions have been issued to monitor regions bordering Assam, especially near eviction sites, to prevent any infiltration into Meghalaya. The meeting aimed to assess the potential impact on Meghalaya and enhance vigilance. The Chief Minister said continuous communication is being maintained with deputy commissioners, who are coordinating with block officials, police, village defence parties (VDPs), traditional leaders, and NGOs to ensure timely information flow and surveillanc...

23Jul

By Purbalee DuttaNo Comments

News, Shillong

SMB Evicts Illegal Hawkers From PB

Shillong Municipal Board (SMB) officials conducted a verification and eviction drive on Tuesday in the Khyndai Lad area following a Meghalaya High Court order. During the operation, goods were seized, and stalls of street vendors without valid certificates of vending (CoVs) were dismantled. SMB instructed all hawkers lacking valid CoVs to immediately remove their merchandise, warning that they would no longer be allowed to trade in the area. The inspection included district administration officials, police personnel, and members of the hawkers’ association. Acting on a state government directive, which set a July 22 deadline for unauthorized vendors to vacate, SMB had been verifying vending permits over recent days. According to SMB records, out of 407 hawkers in Khyndai Lad, 285 hold ...