Floating changing rooms on Ganga in Varanasi soon
These are being developed under supervision of Varanasi Smart City Limited, on the instruction of the U.P. government. Key Points
Hindustan TimesNykaa surges 8% on reports of block deal worth Rs 75 crore
Shares of Nykaa jumped 7.86% on reports of 5.54 million shares changing hands in block deals worth Rs 75 crore. Key Points
FinancialexpressThis Indian-origin mom's $1.3 billion startup is changing school conveyance in US. Details here
Zum, founded by Ritu Narayan, started as a self-financed Uber-like platform offering parents a reliable transportation solution with a mobile app for scheduling rides and tracking children's locations, now worth $1.3 billion with contracts in multiple states. Key Points
mintReady for re-rating once again? 4 stocks from textile sector with upside potential of up to 24%
In past 3 years, a host of sectors have been making a comeback. There are two kinds of comebacks, first is in terms of macro structure of the business witnessing an improvement and hence the bottomline showing an improvement and second is in the stock price performance. Both are very different and that's the most important needed to be taken into account. In last 8-9 years, there has been a policy-level effort to revive sectors like textiles for two reasons. First, it is a labor-intensive sector and impacts a large number of people. Second, there was an opportunity to cut imports and push exports. All the policy efforts were having a moderate impact but then came Covid and China plus one came into the picture, changing the whole picture externally. Internally, help came in the form of the PLI scheme which helped some companies reduce cost of capital and resources for expanding. This list is drawn from Stock Reports Plus, powered by Refinitiv, with over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum. Key Points
Economic Times3D visuals, hiking trails: See how maps and navigation apps are changing
There’s an app that watches the driver for signs of drowsiness; another lets users point to any 3-sq-m lot on the planet. Take a look. Key Points
Hindustan Times
The changing pattern of monsoon—Heavy rainfall events on the rise
The most awaited weather phenomenon in the country—Southwest Monsoon—is changing pattern and how. Earth Sciences Minister Kiren Rijiju today told the Parliament that “cold desert” Ladakh received 64 per cent more rains last year. Key Points
The Tribune IndiaNBFCs overtake bank stocks in FY24. Here’s why
Non-Banking Financial Companies (NBFCs) have seen increased optimism in their stocks due to expectations of interest rate cuts and peaking government bond yields. NBFCs, which rely on bank borrowings and non-convertible debentures (NCDs), benefit from a changing rate environment, especially those with a higher share of floating rates. The recent decline in government bond yields indicates market expectations of a dovish stance by the RBI. Additionally, the competition in the wholesale borrowing market is expected to ease after the HDFC Bank and HDFC Ltd merger. However, factors such as credit growth and asset quality also need to be considered when evaluating the sector. Key Points
Economic Times