Top Stories | Israel attacks Lebanon, Jamie Dimon exclusive, Nifty near 26K, Mobikwik IPO and more
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In today’s edition of 10@10, Israel launched a full-scale offensive on Lebanon, with air strikes killing over 180 people and wounding more than 1,000, according to Lebanon’s health ministry. Israel reported striking 300 Hezbollah positions. Crude oil prices inched higher amid the conflict.
In an exclusive interview, JPMorgan CEO Jamie Dimon praised India’s growth trajectory, expressing optimism about its future. He refrained from endorsing either Donald Trump or Kamala Harris for the U.S. presidency and ruled out any plans to become the next U.S. Treasury Secretary.
The Indian stock market hit new record highs, with the Sensex and Nifty extending their bullish momentum. Nifty was near 26,000, while the Sensex approached 85,000.
A SEBI report revealed that 93% of individual traders incurred losses in futures and options over the past three years, with total losses exceeding ?1.8 lakh crore. Retail investors lost ?61,000 crore in FY24, while algorithms helped foreign funds make nearly ?59,000 crore in profits.
Prime Minister Narendra Modi met with top tech CEOs, including Google’s Sundar Pichai and Nvidia’s Jensen Huang, during his visit to New York. The U.S. and India signed an agreement to establish a semiconductor fabrication plant for military use.
SEBI approved Mobikwik’s IPO proposal, marking the company's second attempt at a public listing. Mobikwik aims to raise around ?700 crore, about one-third of what it had originally planned in its first IPO attempt in 2021.
Here are the top ten stories from the business, economy, and world.
Israeli airstrikes on Lebanon kill 180, over 730 injured in deadliest day of conflict
Israeli airstrikes in Lebanon killed more than 180 people on Monday, September 23, in what has become the deadliest single day since the outbreak of conflict in October, according to the Lebanese Health Ministry. The bombardment, which struck 300 targets, marks a new peak in the ongoing battle between Israel and the Hezbollah militant group.
Lebanon's Health Ministry reported that about 730 others, including women and children, were injured in the strikes, which followed a surge of violence last week after Hezbollah launched a series of retaliatory attacks on Israel. Prior to Monday’s escalation, the conflict had claimed the lives of 600 individuals in Lebanon, including both militants and civilians.
Jamie Dimon on India, Kamala Harris Vs Trump & more | Exclusive
In an exclusive interview, JPMorgan CEO Jamie Dimon lauded India’s impressive growth trajectory and shared his optimism for the country's future. When asked about the U.S. presidential race, he declined to endorse either Donald Trump or Kamala Harris and firmly dismissed any speculation about becoming the next U.S. Treasury Secretary.?
Here's a small teaser from the interview ??
Oil steady after weekly gain as Middle East conflict worsens
Oil was steady after a second weekly gain, with the focus on an escalation in the conflict between Israel and Hezbollah.
Brent traded above $74 a barrel after rising 4% in its biggest weekly advance since April, while West Texas Intermediate traded near $71. Hezbollah launched about 115 rockets, missiles and drones toward northern Israel on Sunday, leading to counterattacks against the Iranian-backed group in Lebanon.
The escalation — and fears it would drag in OPEC producer Iran — has led to the return of a risk premium in oil and helped Brent rise more than 8% from the lowest since 2021 earlier this month. However, that’s been kept in check by concerns over a worsening fuel demand outlook that have made hedge funds the most most bearish on diesel on record.
Nifty 50, Sensex scale record highs amid strong FPI inflows
The Nifty 50 and Sensex scaled record highs for a second consecutive session on Monday, with the former a little over 50 points away from reaching the 26,000 mark, as foreign inflows into the country increased after an interest rate cut by the United States.
The Federal Reserve's latest decision for a larger-than-usual 50 basis points interest rate reduction has fuelled hopes of it attracting more foreign money into the country.
The Sensex rose 384 points to end at 84,928.6. The Nifty 50 index advanced 148 points to finish at 25,939.
Retail investors lost ?61,000 cr in F&O trading in FY24, algo investors & FPIs gained: SEBI
A recent analysis by the Securities and Exchange Board of India (SEBI) has laid bare the financial struggles faced by retail investors in the equity futures and options (F&O) segment.
Over the three-year period from FY22 to FY24, a staggering 93% of over one crore individual traders experienced losses, with an average loss of ?2 lakh per trader, inclusive of transaction costs.
The aggregate loss over the three years amounted to over ?1.8 lakh crore. Even more concerning, the top 3.5% of loss-making traders—about 4 lakh individuals—suffered significantly higher average losses of ?28 lakh each, after accounting for transaction costs.
PM Modi attends 'fruitful' roundtable meeting with tech CEOs in New York
Prime Minister Narendra Modi attended a 'fruitful' roundtable meeting with the CEOs of leading tech companies in the US on Sunday (local time) at the Lotte New York Palace Hote, during the second leg of his three-day US visit.
The focus of the tech-roundtable meeting was artificial intelligency and quantum, biotechnology and life sciences, computing, IT and communication and semiconductor technologies.
The CEOs attending the meeting included —Julie Sweet of Accenture, Shantanu Narayan of Adobe, Lisa Su of AMD, Chris Viehbacher of Biogen, Chris Boerner of Bristol Myers Squibb, David Ricks of Eli Lily, Sundar Pichai of Google, Enrique Lores of HP, Arvind Krishna of IBM, Tim Archer of Lam Research, Dr Noubar Afeyan of Moderna, Hans Vestberg of Verizon, Thomas Coulfield of Global Foundries, Jenseng Huang of NVIDIA, Martin Schroeter of Kyndryl.
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Vodafone Idea management shares important updates on debt funding, AGR dues on analyst call
This funding is over and above the ?18,000 crore that it raised earlier this year through a Follow-On Public Offer (FPO), along with issuing preferential shares to its promoters.
CEO Akshaya Moondra, speaking on the analyst call, also highlighted that the company has initiated a fresh dialogue with the government on the likely remedies for the payment of the AGR dues.
Vodafone Idea's management said that the government has asked the company to put together a request package, which will detail what is required and the company is in the process of doing so.
"The AGR issue now rests with the government and there is very clear understanding at the government level that the company should not be asked to pay something that involves a calculation error," the management said on the analyst call.
SpiceJet raises ?3,000 crore via QIP with Goldman, Societe Generale among investors; Stock jumps0
Shares of aviation carrier SpiceJet Ltd. are trading with gains of as much as 10% on Monday, September 23.
SpiceJet has raised ?3,000 crore through sale of shares to qualified institutional buyers, providing a much-needed tailwind for the struggling low-cost airline.
Foreign entities, including Societe Generale - ODI, Goldman Sachs (Singapore) Pte - ODI, Discovery Global Opportunity (Mauritius) Ltd, Authum Infrastructure and Investment, and Troo Capital are among the investors who have been allotted shares under the airline's QIP that was oversubscribed.
The company will also receive ?750 crore additionally from previous funding.
Payment platform Mobikwik secures SEBI nod for ?700 crore IPO
Payment platform Mobikwik has received approval from the Securities and Exchange Board of India (SEBI) to raise Rs 700 crore through an initial public offering (IPO). With a face value of ?2 per share, the IPO is entirely a fresh issue of equity shares, with no offer for sale component.
Mobikwik plans to utilise ?250 crore for expanding its financial services arm, ?135 crore to drive growth in its payment services, and another ?135 crore towards investments in data, machine learning, and AI innovations.
The remaining ?70.28 crore will be allocated for capital expenditure in its payment devices business, alongside general corporate purposes.
India rejected RCEP to protect domestic economy from China's influence, says Piyush Goyal
In November 2020, 15 Asia-Pacific countries signed the Regional Comprehensive Economic Partnership (RCEP), forming the world’s largest trade pact. However, India, a significant regional economic player, chose to withdraw from the agreement. In a recent exclusive interview with CNBC, Commerce Minister Piyush Goyal shed light on India’s rationale behind opting out of this ambitious trade deal.
Piyush Goyal, who took charge of the Commerce and Industry Ministry in June 2019, explained that his first major challenge was dealing with the impending decision on India’s participation in the RCEP.
“We were at the fag end of negotiations with the RCEP. November 4 was the day we were told to accept joining the RCEP. I got only about three or four months to get a hang of what was happening,” Goyal said.
Anura Kumara Dissanayake takes oath as Sri Lanka's 10th President
Anura Kumara Dissanayake was sworn in as Sri Lanka's tenth president on Monday (September 25). The 55-year-old leader, who ran as head of the Marxist-leaning National People's Power coalition, defeated opposition leader Sajith Premadasa and 36 other candidates in the September 21 election.
Dissanayake received 5,740,179 votes, followed by Premadasa with 4,530,902.
Dissanayake was first elected to Parliament in 2000 and briefly held the portfolio of agriculture and irrigation minister under then-President Chandrika Kumaratunga. He ran for president for the first time in 2019 and lost to Rajapaksa.
Kiran Rao's 'Laapataa Ladies,' a satire on patriarchy, chosen as India's Oscars 2025 entry
Kiran Rao's "Laapataa Ladies" has been picked as India's official entry for Oscars 2025, the Film Federation of India announced here on Monday.
The Hindi film, a light-hearted satire on patriarchy, was chosen from a list of 29 films, including Bollywood hit "Animal", Malayalam National Award winner "Aattam" and Cannes winner "All We Imagine As Light".
The 13-member select committee headed by Assamese director Jahnu Barua "unanimously" decided on "Laapataa Ladies", produced by Aamir Khan and Rao, for reckoning in the best international film category at the Academy Awards.
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Phoenix M.
6 个月How much longer with this continue? If there are any terrorists in our World today they are Benjamin Netanyahu and the Internal U.S Government Threat Actors which continue to coax us and the world into thinking this is acceptable- instigating and permitting Global Violence without reservation. How much more will the world stand to the side and watch these Criminals light global citizens up? Frankly, It is beyond imaginable to think that any Leadership in the U.S would continue to endorse this terrorist Leadership. It is beyond denial that the Internal Threat Actors which push this violence forward have more control over our foreign policy then the current administration does at the moment. ? This administration Needs to serve Humanity and grow the Backbone to Call for Netanyahu's resignation. They continue to be controlled by the Threat Actors whom bare the hands which are currently wreaking havoc in All aspects of Modern Geopolitics, when they make these endorsements with threat instigators. ? It has been a trauma to Our *Middle Class* and the World for Our Taxes to have Funded Terrorism at the hands of these actors for 20 Years Now. Benjamin Netanyahu is single-handedly Initiating World War 3 and he needs to be stopped.