'Do what India needs': Noel Tata on Tata Trusts' roadmap

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Bengaluru, Aug 2 (IANS) Declaring that businesses must ultimately serve society and not merely generate wealth, Tata Trusts Chairman, Noel Tata on Sunday spoke about the roadmap for India’s largest philanthropic organisation, signalling a strategic intent towards creating enduring assets in healthcare and education in particular, while seeking greater accountability in social spending.In a comprehensive articulation of the Trusts’ future direction, Noel Tata speaking at the Indian Institute of M…

Futures and options market to stay open till 3:40 PM from Aug 3

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Mumbai, Aug 2 (IANS) Investors will witness significant changes in stock market trading from Monday (August 3), as the Securities and Exchange Board of India (SEBI) implements a revised trading framework aimed at strengthening price discovery, improving market efficiency and aligning India’s market structure with global standards.A key feature of the new framework is the introduction of a Closing Auction Session (CAS) for Futures and Options (F&O)-eligible, or Category I, stocks in the equit…

Elon Musk's wealth plunges by over $600 billion as SpaceX, Tesla shares tumble

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New Delhi, Aug 2 (IANS) Elon Musk has seen his personal fortune shrink by more than $600 billion in just over a month after a sharp decline in the shares of SpaceX and Tesla, even as he continues to double down on artificial intelligence, autonomous driving and robotics.Musk’s net worth has fallen to around $684 billion from a peak of nearly $1.33 trillion reached on June 16, when SpaceX briefly propelled him to become the world’s first-ever trillionaire.The wealth erosion alone exceeds the tota…

Persistent Systems' Q1 net profit falls 8.7 pc sequentially to Rs 483 crore

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Mumbai, Aug 2 (IANS) IT major Persistent Systems Limited on Sunday reported an 8.7 per cent quarter-on-quarter (QoQ) decline in its consolidated net profit for the first quarter of the financial year 2027 (Q1 FY27).According to the company’s exchange filing, consolidated net profit stood at Rs 483 crore during the April-June quarter, compared with Rs 529 crore in the preceding quarter (Q4 FY26).Revenue from operations rose 6.1 per cent sequentially to Rs 4,303 crore from Rs 4,056 crore in the Ja…

Renewables hit record high, coal's share in India's power mix falls to one-year low in July

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New Delhi, Aug 2 (IANS) The share of coal in India’s electricity generation mix fell to its lowest level in a year in July as renewable energy production climbed to a record high, reflecting the country’s growing clean-energy capacity even as overall power demand remained strong.Government data showed renewable energy accounted for 20 per cent of India’s power-generation mix during the month.Renewable electricity generation rose 30 per cent year-on-year to 36.25 billion kilowatt-hours (kWh) in J…

West Bengal's tea, fisheries and handicrafts sectors to gain from 9 landmark FTAs: Piyush Goyal

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New Delhi, Aug 2 (IANS) Union Commerce and Industry Minister Piyush Goyal on Sunday said that West Bengal is set to benefit significantly from the nine landmark Free Trade Agreements (FTAs) concluded under the leadership of Prime Minister Narendra Modi, with enhanced market access expected to boost the state’s exports and economic growth.In a post on social media platform X, the minister said the FTAs would provide greater opportunities for tea growers, fisherfolk, artisans engaged in traditiona…

RBI revises deposit rules to enhance transparency, uniformity; new norms effective October 1

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Mumbai, Aug 2 (IANS) The Reserve Bank of India (RBI) has revised the regulatory framework governing deposit interest rates, introducing measures aimed at enhancing transparency and ensuring uniform treatment of depositors across banks. The new rules, notified on Friday, will come into effect from October 1.The revised directions will apply to commercial banks, small finance banks, regional rural banks (RRBs), local area banks, payments banks and urban cooperative banks.Under the new framework, b…

Nine of top-10 most-valued firms add Rs 2.51 lakh crore in market cap

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Mumbai, Aug 2 (IANS) Nine of India’s 10 most-valued companies together added Rs 2.51 lakh crore in market capitalisation last week, driven by a strong rally in the domestic equity markets.The gains came as benchmark indices ended the week on a strong note. The Sensex advanced 2,034.87 points, or 2.67 per cent, while the Nifty climbed 616.15 points, or 2.59 per cent.Among the top-10 companies by market value, Reliance Industries, Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India (SBI), Ta…

Sensex may test 79,200, Nifty seen heading towards 24,850 next week: Analysts

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Mumbai, Aug 2 (IANS) After staging a strong comeback this week, the Indian equity benchmarks are expected to remain on a positive footing in the near term, with the Sensex likely to test the 79,000–79,200 zone and the Nifty 50 eyeing 24,850, provided key resistance levels are decisively crossed, market analysts said on Sunday.The Indian stock market snapped its recent losing streak during the week as softer crude oil prices, easing geopolitical tensions, encouraging first-quarter FY27 earnings…

India's coal output rises 7.5 pc to 69.75 MT in July, dispatch jumps 17 pc

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New Delhi, Aug 2 (IANS) India’s coal production rose 7.51 per cent year-on-year (YoY) in July 2026 to 69.75 million tonnes (MT) (provisional), driven by higher output from state-run miner Coal India Ltd. (CIL) and steady growth across the sector, according to the Ministry of Coal on Sunday.The country’s coal production stood at 64.88 MT in July 2025, as per its official statement.Coal dispatch recorded an even stronger performance during the month, increasing 17.34 per cent year-on-year to 86.33…