Stock Market Highlights: Indian markets declined for the second consecutive session, ending the week on a negative note on Friday. The 30-share Sensex slipped 241.30 points or 0.31 per cent

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Stocks to Watch, Jan 10, 2025: TCS, IREDA, Tata Elxsi will be in focus post their Q3 results, also, Swiggy, Zomato, Vi and others will be on the radar

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British telecom firm Vodafone has sold its entire stake in Indus Towers for Rs 2,800 crore, the telecom infrastructure firm said on Friday.
Vodafone has sold 7.92 crore or 3 per cent stake in Indus Towers and used Rs 890 crore from the proceeds to clear lenders dues, the company said in a regulatory filing.
"Vodafone Group Plc announces that it has successfully completed the placing of its remaining 79.2 million shares in Indus Towers Limited ("Indus") representing 3.0 per cent of Indus' outstanding share capital through an accelerated book build offering on 5 December 2024," the filing said.
The company held 3 per cent stake through its indirect wholly-owned subsidiaries, Omega Telecom Holdings Pvt Ltd and Usha Martin Telematics Limited.
"Residual proceeds of Rs 19.1 billion (USD 225 million) have been used to acquire 1.7 billion equity shares in Vodafone Idea Limited through a preferential allotment of shares (a "Capital Raise"), increasing Vodafone's shareholding in Vi to 24.39

Vodafone

US job openings rose unexpectedly in November, showing companies are still looking for workers even as the labour market has cooled overall.
Openings rose to 8.1 million in November from 7.8 million in October, the Labour Department reported Tuesday. They were down from 8.9 million a year earlier and a peak of 12.2 million in March 2022 as the economy was roaring back from COVID-19 lockdowns. But they still exceed pre-pandemic levels.
Economists had expected job openings to fall slightly in November.
Layoffs rose slightly in November, and the number of people quitting their jobs fell, suggesting that Americans are less confident in their ability to find better jobs elsewhere.
The American labour market has cooled from the red hot hiring of 2021-2023. Employers added 1,80,000 jobs a month in 2024 through November, not bad but down from 2,51,000 in 2023; 3,77,000 in 2022, and a record 6,04,000 in 2021.
When the Labour Department releases December hiring numbers on Friday, they're ..

US job

The greenback rose to a near six-month peak after the US data. It was up 0.4 per cent at 158.195 yen. Earlier in the global session, the dollar hit its highest since July of 158.425 yen

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The 18th Pravasi Bharatiya Divas convention will kick off in Bhubaneswar on Wednesday with the Odisha government leaving no stone unturned to showcase the state's rich culture and heritage in front of the NRIs who are coming here from 50 countries.
The convention will begin with the Youth Pravasi Bharatiya Divas event being organised by the Odisha government in partnership with the Ministry of Youth Affairs and Sports, officials said.
Prime Minister Narendra Modi will take part in the inaugural session on Thursday, while President Droupadi Murmu will preside over the valedictory session on Friday, they said.
Murmu will also confer the Pravasi Bharatiya Samman upon members of the Indian diaspora to recognise their achievements in various fields.
Trinidad and Tobago President Christine Carla Kangaloo is the chief guest of this edition, which is being held on the theme 'Diaspora's Contribution to a Viksit Bharat'. She will address the convention virtually.
Chief Secretary Manoj Ahuja

PM Modi, Indian diaspora in US

Subrahmanyan's '90-hour workweek' formula is one step ahead of Infosys founder Narayan Murthy's suggestion of working 70-hours a week

SN Subrahmanyan

Challenging the decision of the Biden Administration to investigate the activities of Indian billionaire Gautam Adani and his companies, an influential Republican lawmaker on Tuesday said such selective actions risk damaging critical alliance partners.
In a strongly worded letter to US Attorney General Merrick B Garland, Congressman Lance Gooden, member of the House Judiciary Committee, demanded answers on the Justice Department's selective prosecution of foreign entities and the potential harm such actions pose to US's global alliances and economic growth and that if there is any Geroge Soros connection to it.
The Department of Justice's selective actions risk damaging critical alliances with key partners like India, one of America's strongest allies in the Asia-Pacific region, Gooden said in his letter dated January 7.
Instead of pursuing cases with tenuous jurisdiction and limited relevance to US interests, the DOJ should focus on punishing bad actors at home, rather than chasing

Gautam Adani, Adani

The temporary work permits are the only real way to employ Indian immigrants in the US, since national caps make it nearly impossible for them to get a green card

H-1B Visa

Tamil Nadu Chief Minister M K Stalin on Friday said the National Eligibility-cum-Entrance Test would have been abolished had the Indi alliance captured power, but only the Central government can now cancel the test.
The DMK has consistently opposed NEET and was involved in efforts aimed at scrapping the test, he told the Assembly.
"NEET did not enter Tamil Nadu as long as our leader Kalaignar (late Chief Minister M Karunanidhi) and late Chief Minister J Jayalalithaa were in power. The exam was introduced only during your regime," Stalin said responding to the Leader of the Opposition AIADMK Edappadi K Palniswami's charge that the ruling dispensation had done precious little to abolish NEET despite its promise in the run-up to the 2021 assembly election.
"Does Opposition Leader Palaniswami not know that only the Union Government can cancel NEET? If the Indi alliance had come to power at the Centre, then NEET would have definitely been cancelled," Stalin said responding to a volley of

MK Stalin, Stalin

Indian Railways, which is mainly dependent on China for its forged wheel requirements, has collaborated with an Indian firm to reduce imports, officials said.
According to Railways, it has been importing various types of forged wheels required for locomotives and coaching stock (LHB) since the 1960s from the UK, Czech Republic, Brazil, Romania, Japan, China, Ukraine and Russia.
"During the year 2024-25, wheels worth approx Rs 900 Crore were imported from China and Russia/Ukraine and another 40,000 wheels were sourced from Steel Authority of India Limited (SAIL). Currently, due to the Russia-Ukraine Crisis, the majority of the import requirement of wheels is being met from China," a release from the Railway Ministry said.
The "requirement of wheels is projected to increase up to 2 lakh by 2026 onwards due to the induction of more and higher speed trains," it added.
According to the ministry, the existing domestic production capacity for 2024-25 is only 75,000 wheels. Hence, it has .

Railways, train

Modi said his thrust on "minimum government, maximum governance" was misinterpreted by some people who thought it meant fewer ministers or government employees

Narendra Modi, PM Modi, Modi, Nikhil Kamath, podcast

The rating agency's arm said that India's recent consumer price inflation at around 5 per cent was without clear evidence of a trend towards slowing price pressures

Most GCCs in India support critical business goals by using AI, data analytics, robotic process automation, and cloud services

India ranked third globally in terms of funding raised by fintech companies, behind the US and China, the report said

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Only the centre has the power to cancel Neet, clarifies TN CM Stalin

Indian Railways partners with RKFL, TWL to reduce reliance on China

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Stock Market Highlights: Sensex drops 241 pts, Nifty at 23,431; broader mkts sink 2%; TCS rallies 6%

Stocks to Watch, Jan 10, 2025: TCS, IREDA, Tata Elxsi, Swiggy, Zomato, SAIL

Vodafone exits Indus Towers, raises Rs 2,800 cr; clears Rs 890 cr dues

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