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

Nuclear power has been in the news with NTPC announcing a partnership with the US-based Clean Core Thorium Energy (CCTE) to develop thorium-based fuel for use in nuclear reactors

Nuclear power, Building reactors

China on Tuesday said the 6.8-magnitude earthquake near one of Tibet's holiest cities, which claimed at least 126 lives, caused no damage to any dams or reservoirs in the country.
The statement by the Ministry of Water Resources came as the earthquake highlighted concerns raised by experts about China's plan to build the world's largest dam on the Brahmaputra River in Tibet near the Indian border.
According to regional disaster relief headquarters, the quake jolted Dingri County in Xigaze in Tibet Autonomous Region in China at 9:05 am local time.
At least 126 people have been confirmed dead and 188 others injured, the state-run Xinhua news agency reported.
Following the earthquake, China's Ministry of Water Resources stated that inspections found no impact on dams or reservoirs in the region, according to the Hong Kong-based South China Morning Post.
China in December approved the construction of the dam, stated to be the world's biggest infra project costing USD 137 billion, rais

Nepal earthquake, tibet earthquake

Falls short of RBI estimate; better showing in agri and manufacturing expected in H2

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

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 ruling TMC on Friday suspended its former Rajya Sabha MP Santanu Sen and ex-MLA Arabul Islam for alleged "anti-party activities", the party's vice-president Jayprakash Majumdar said.
The action comes as the party continues to grapple with internal discord.
Sen, a doctor by profession and seen as a loyalist of TMC national general secretary Abhishek Banerjee, had criticised the police for its investigation into the rape and murder of the medic at the RG Kar Medical College and Hospital.
His vocal stand on the issue created a furore within the party, especially given his close ties to the young leader.
He could not be reached for comment.
Islam, on the other side, has been in the news for all the wrong reasons over the years. A leader from Bhangore on the outskirts of Kolkata, his tiff with party MLA Saukat Mollah has often resulted in embarrassment for the top leadership.
The suspensions signal the TMC leadership's effort to restore discipline within the ranks in the run-up to

TMC supporters

Markets regulator Sebi on Friday came out with a procedure for seeking a waiver or reduction of interest concerning recovery proceedings initiated by it for failure to pay penalty.
Under this, Sebi said the applicant's requests for waiver/reduction is required to be submitted to the relevant recovery officer, with documentation supporting the fulfilment of three criteria from Section 220(2A) of the Income Tax Act, 1961.
Section 220(2A) allows the waiver or reduction of this interest under specific conditions.
The criteria include payment of such an amount causing genuine hardship to the applicant; default was due to circumstances beyond the applicant's control and the applicant has cooperated in any related inquiry.
In its circular, Sebi said applications are allowed only if the notice of demand has already been served and the principal amount due is fully paid.
The Sebi's recovery officer will forward the application to the competent authority, which will take a decision within 1

SEBI

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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My benchmark lies in how I prepare my team for future: PM in debut podcast

TMC suspends ex-MP Santanu Sen, ex-MLA Arabul Islam over internal discord

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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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