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

Petroleum ministry pushes for car tax reduction

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The US Defence Department has added dozens of Chinese companies, including games and technology company Tencent, artificial intelligence firm SenseTime and the world's biggest battery maker CATL, to a list of companies it says have ties to China's military, prompting some to protest and say they will seek to have the decision reversed.
The US has in recent years sought to restrict sharing of advanced technology, including semiconductors and artificial intelligence, deeming it to be a threat to national security. The Defence Department updates its list of Chinese Military Companies, or CMC list, annually. With the latest revision it includes 134 companies.
The National Defence Authorisation Act of 2024 bans the Department of Defence from dealing with the designated companies beginning in June 2026.
Tencent's Hong Kong-traded shares fell 7.3 per cent on Tuesday and the company said it would initiate a reconsideration process to correct this mistake, seek talks with the Defence ...

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The Organization of the Petroleum Exporting Countries pumped 26.46 million barrels per day last month, down 50,000 bpd from November

OPEC

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

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

Xiaomi Pad 7 launched in India. OnePlus 13 along with Sapphire Blue Buds Pro 3 goes on sale. DailyObjects launch new Qi2-certified power banks. Redmi 14C sale. new Google AI features

Tech Wrap January 10

The document, purported to be from the U.S. Treasury, was being circulated among traders in Europe and Asia. Reuters could not verify the veracity of the document

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

Tech wrap Jan 10: Xiaomi Pad 7 launch, OnePlus 13 sale, DailyObjects LOOP

Crude prices jump more than 3% on concerns over more US sanctions on Russia

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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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