In other news, the Adani Group is gearing up big time. They’re planning to almost double their spending this fiscal year and are eyeing a listing for their airports business by FY28. Overseas, Israel’s top court has ruled that ultra-orthodox men must now serve in the military, shaking up the status quo. And from the T20 World Cup, Afghanistan is rewriting history. They’ve stormed into the semi-finals after beating both Australia and Bangladesh.
Sensex, Nifty, and Nifty Bank hit new peaks as financials lead market to record high
Indian shares hit record highs on Tuesday, June 25, led by a strong rally in financials, with benchmark indices the Sensex, Nifty and Nifty Bank all notching intra-day peaks. The broader 50-share NSE Nifty50 hit an all-time high of 23,754 points, while the benchmark 30-share BSE Sensex soared to a record 78,165 points.
The Nifty Bank index also set a new peak at 52,747 points. At the close of trading, the Sensex had risen by 712 points to settle at 78,054. The Nifty gained 184 points, finishing at 23,721. The Nifty Bank surged by an impressive 902 points to end the day at 52,606.
In contrast, the Midcap Index slipped 209 points to close at 55,369, indicating a relative underperformance in the midcap space.
Adani Airports IPO: Parent company shares a major update on the timeline
Adani Enterprises will look to list its Airports business by financial year 2028, senior officials of the company told CNBC-TV18.
At the group level, there is also a plan to raise between $2 billion to $3 billion via equity in the current financial year, the officials said.
Since the flagship company went public in 1994, Adani Enterprises has incubated and listed six other independent businesses, which have a combined market capitalisation of over $10 billion.
Budget 2024: How the Indian Union Budget is prepared
With the BJP-led National Democratic Alliance (NDA) government back in power, India is looking forward to its complete Union Budget for FY24.
Although the date of the presentation of the Union Budget has not yet been confirmed, multiple media reports indicate that Finance Minister Nirmala Sitharaman will probably do so during the third week of July, which also happens to be the first week of Parliament’s Monsoon Session.
Delve into the process of preparing the Union Budget here.
Furthermore, insurance experts have outlined recommendations aimed at enhancing accessibility and fostering growth within the insurance sector in India.
Here’s an overview of their expectations
ICICI Bank at $100 billion market cap: Lender becomes sixth Indian firm to the landmark
Mumbai-based private lender ICICI Bank Ltd., on Tuesday, reached a market capitalisation of $100 billion after the stock gained over 2%. With this, India’s second-largest private lender had become the sixth Indian entity to enter the $100 billion market capitalisation club.
There were only five Indian companies, before ICICI Bank, that had a market capitalisation of over $100 billion. Reliance Industries tops the list with a market capitalisation of $236 billion, and TCS follows suit with a market value of $166 billion.
Congress’ K Suresh vs NDA’s Om Birla: Historic contest for Lok Sabha Speaker post, first elections ever
Congress MP K Suresh officially entered the race for the position of Lok Sabha Speaker, representing the Opposition, in response to the ruling National Democratic Alliance (NDA) nominating BJP MP Om Birla for the same role. This marks the first instance of a contested election for the Lok Sabha Speaker’s position in Parliament.
Following a meeting with Defence Minister and senior BJP leader Rajnath Singh, Congress leader KC Venugopal expressed disappointment over the government’s denial of the Deputy Speaker post to the Opposition. This led to the Opposition’s decision to nominate K Suresh as their candidate against Birla.
Delhi High Court stays the grant of bail to Arvind Kejriwal
The Delhi High Court ordered a stay on the grant of bail to Delhi CM Arvind Kejriwal. The HC upheld the Enforcement Directorate’s stance that the Trial Court did not give adequate time and consideration to their arguments. The Supreme Court is scheduled to hear the plea by Kejriwal challenging the stay of bail on June 26.
The court slammed the trial court for granting the Delhi Chief Minister bail. The ED argued that the documents presented by them were not fully considered. The trial court did not give adequate opportunity to ED and did not apply its mind to the records presented by them.
WikiLeaks’ Assange set to be freed after US espionage charge plea deal
WikiLeaks founder Julian Assange is due to plead guilty on Wednesday to violating U.S. espionage law, in a deal that will set him free after a 14-year British legal odyssey and allow his return home to Australia.
Assange, 52, has agreed to plead guilty to a single criminal count of conspiring to obtain and disclose classified U.S. national defence documents, according to filings in the U.S. District Court for the Northern Mariana Islands.
But what is WikiLeaks and why did it get Julian Assange in so much trouble?
Israel’s Supreme Court ends military exemption for ultra-orthodox
Israel’s Supreme Court has scrapped the long-standing military exemption for ultra-Orthodox Jewish seminary students, stirring up Netanyahu’s coalition. This move ends decades of controversy over who serves and who skirts the draft, heating up discussions amid ongoing conflicts in Gaza and Lebanon.
Additionally, the International Criminal Court has issued arrest warrants for former Russian defense minister Sergei Shoigu and top general Valery Gerasimov. They’re accused of orchestrating missile strikes on Ukraine’s electric infrastructure during Russia’s recent invasion.
China makes history with moon’s far side samples
China’s Chang’e 6 probe has returned to Earth, carrying precious samples from the moon’s far side—a historic first. The probe landed in Inner Mongolia, bringing back 2.5 million-year-old volcanic rock and other materials that could shed light on the moon’s geological diversity. This achievement marks a significant milestone in lunar exploration.
While past US and Soviet missions have collected samples from the moon’s near side, the Chinese mission was the first that has collected samples from the far side.
Afghanistan’s historic win sends them to ICC T20 World Cup semifinals
Afghanistan clinched a historic semifinal berth in the ICC T20 World Cup 2024 by defeating Bangladesh. Their 8-run victory (via DLS method) at Arnos Vale Ground, Kingstown, St Vincent on Tuesday, June 25 marks a significant milestone in their cricket journey.
Meanwhile, Australia’s journey in the tournament came to an end after a hard-fought match.
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