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Gold prices continued their historic rally on Tuesday, driven by several global factors such as rising geopolitical tensions, fears of a US government shutdown, aggressive central bank purchases, and growing anticipation of US Federal Reserve rate cuts. On the Multi Commodity Exchange (MCX), gold reached a record ₹1,20,900 per 10 grams on October 7, while silver hovered near record levels at around ₹1,48,000 per kilogram. Internationally, spot gold edged up 0.1% to $3,962.63 per ounce, touching an all-time high of $3,977.19 earlier. US gold futures for December gained 0.2% to $3,985.30 per ounce. Jigar Trivedi, Senior Research Analyst at Reliance Securities, noted that gold’s surge is fueled by global economic uncertainty, geopolitical risks, central bank buying, and a weaker dollar. H...

Global investment firm Morgan Stanley projects that India’s benchmark BSE Sensex could rise to 89,000 by June 2026, indicating a potential upside of around 12% from current levels. This optimism is based on expectations of fiscal consolidation, stronger private investment, and sustainably low real interest rates. Despite flat returns from the Sensex and Nifty this year, Morgan Stanley believes investors are undervaluing India's growth prospects. It highlights key structural strengths such as favourable demographics, rising exports, fiscal discipline, and growing household investments in equities. In its base case scenario (50% probability), the Sensex is forecast to reach 89,000, reflecting 23.5x earnings, slightly above the historical average. The bull case (30% probability) sees the ...

The Meghalaya High Court has directed authorities in Shillong to launch an immediate crackdown on unlicensed street vendors operating in the bustling Laitumkhrah area, after a municipal report revealed widespread illegal vending without proper documentation. A bench comprising Chief Justice IP Mukerji and Justice W Diengdoh issued the order during a hearing on August 29, where the court took note of a Shillong Municipal Board (SMB) report that exposed serious lapses in regulatory oversight. According to the report, none of the 122 vendors identified in Laitumkhrah possessed valid vending certificates. Of these, only 22 were found to be “eligible” under government schemes, but even they lacked licenses. Adding to the confusion, another 48 individuals also claimed to be street vendors, brin...

Shares of Ola Electric Mobility surged up to 5 percent on Friday, reaching ₹57.50, and marking nearly 20 percent gains for the week. The rally was driven by policy support and company-specific developments, notably the company receiving Production Linked Incentive (PLI) certification for its Gen 3 scooter lineup. In a filing dated August 26, Ola announced it had received compliance certification under the PLI scheme for automobiles and auto components from the Automotive Research Association of India (ARAI), under the Ministry of Heavy Industries. The approval includes all seven models in the S1 Gen 3 range, such as the S1 Pro and S1 X variants. Ola noted that both its Gen 2 and Gen 3 scooters are now PLI-certified, with the latter forming the bulk of current sales — expected to boost pro...

The Indian stock market remained under pressure for the second straight session on Thursday, August 28, amid growing concerns over former U.S. President Donald Trump’s proposed 50% tariff on Indian imports. The Nifty 50 index slipped close to 1% during the session but managed to stay above the key 24,500 level, touching an intraday low of 24,507. Despite the decline, the absence of a sharp sell-off suggests that the market may already be factoring in the tariff impact and could be nearing a bottom. A positive update on the trade front might spark a recovery. Market experts believe that the current weakness reflects expectations that the proposed tariffs are temporary and part of Trump’s negotiation tactics. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted...

The Ministry of Finance has clarified that first-time borrowers are not required to have a minimum CIBIL score to be eligible for bank loans. During the recent monsoon session of the Lok Sabha, Minister of State Pankaj Chaudhary reaffirmed the Reserve Bank of India’s (RBI) stance, stating that banks cannot reject loan applications solely based on the absence of a credit score or credit history. According to the RBI’s Master Direction dated January 6, 2025, credit institutions must not deny loans to individuals just because they lack prior credit records. Chaudhary further explained that in a deregulated credit environment, lenders evaluate loan applications based on commercial judgment, internal policies, and various inputs — one of which is the credit information report. A CIBIL sc...

Kotak Mahindra Bank demonstrated steady performance, opening at Rs 2035.05 and moving in line with sector trends throughout the trading day. The stock currently trades above its 5-day, 20-day, and 200-day moving averages but remains below the 50-day and 100-day averages, reflecting mixed momentum over the short to medium term. With a market capitalization of Rs 4,01,823.78 crore, the bank has delivered a strong one-year return of 11.61%, outperforming the Sensex, which gained just 1.35% during the same period. However, its recent performance has been uneven, with a 6.66% decline over the past month, while the Sensex dropped slightly by 0.25%. Year-to-date, Kotak Mahindra Bank has returned 13.13%, compared to the Sensex’s 4.94%. Over three years, the bank’s growth stands at 7.64%, la...

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, ...

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,...

SHILLONG: (Jul 13) The Shooting Association of Meghalaya announced on Sunday that it has commenced a series of trials aimed at identifying the finest talent from the state, which is preparing to host the 2027 National Games. The 39th edition of the National Games, a highly regarded sporting event in the country, will take place in Shillong for the first time. This event will gather elite athletes from various disciplines across the nation. Officials express confidence that the exposure and experience acquired through the trials will provide a competitive advantage at the Games.