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Education Ministry in discussions to ease 1-km norm for EWS admissions
The education ministry is urging states to update Right to Education Act rules. This action follows Supreme Court orders for better implementation of the EWS quota. High-level discussions are also underway for neighborhood school criteria flexibility. States are being asked to frame RTE rules as per the Supreme Court's directives.
TPG acquires Aseem Infrastructure from NIIF with GIC, ICICI backing
Global private equity firm TPG is acquiring a full stake in Aseem Infrastructure Finance, a leading sustainable infrastructure debt financier. Partnering with Singapore's GIC and ICICI Bank, TPG's climate investing platform will take over the company, which has funded significant renewable energy and power transmission projects. Aseem Infrastructure, founded by NIIF, has disbursed over Rs 40,000 crore in loans, contributing to substantial greenhouse gas emission reductions.
Hitachi Energy, GE Vernova, Siemens rise up to 6% as Nomura calls recent correction an ‘overreaction’. 4 reasons why
Indian electrical equipment stocks rebounded, gaining up to 6% after global brokerage Nomura labelled the recent sell-off an "overreaction." Nomura highlighted that Chinese firms, granted a two-year tender exemption, historically secured minimal market share. They also noted capacity constraints among these firms, suggesting the exemption is a temporary measure, not a policy shift, thus limiting significant impact on domestic players.
Stocks in news: HDFC Bank, Vedanta Power, YES Bank, Sun Pharma, Waaree Energies
Indian markets surged for a third straight day, buoyed by global sentiment and strong performance from heavyweight stocks like HDFC Bank and YES Bank. Analysts note a technical breakout, though resistance looms. Several companies, including Dabur India and Vedanta Power, reported positive quarterly updates, while Tata Power withdrew a controversial distribution application. ONGC's leadership eligibility criteria have also been broadened.
NPCI's Dilip Asbe joins Swift's global supervisory board
Dilip Asbe, CEO of NPCI, has joined Swift's global supervisory board, a significant step for India's payment ambitions. This appointment, pending regulatory approval, grants India a voice in global payment standards, recognizing the success of UPI. Asbe's leadership has been pivotal in developing India's advanced payment systems, positioning the nation as a key influencer in shaping future cross-border financial infrastructure.
NPCI's Dilip Asbe joins Swift's global supervisory board
Dilip Asbe, CEO of NPCI, has joined Swift's global supervisory board, a significant step for India's payment ambitions. This appointment, pending regulatory approval, grants India a voice in global payment standards, recognizing the success of UPI. Asbe's leadership has been pivotal in developing India's advanced payment systems, positioning the nation as a key influencer in shaping future cross-border financial infrastructure.
Global Market Update: Europe's STOXX 600 hits record high, eyes best weekly gain since mid-May
Europe's STOXX 600 hovered near record highs on Friday and headed for its best week since mid-May, supported by gains in defence and cyclical stocks. Investors shrugged off near-term US rate concerns as easing Middle East tensions broadened the rally beyond technology shares. Siemens led gains in Germany, while defence stocks benefited from expectations of higher military spending amid escalating geopolitical risks.
ACME Green Molecules, Mitsubishi Gas Chemical sign $1 billion green methanol supply deal
India's first global green marine fuel pact sees ACME Green Molecules partnering with Japan's MGC to supply 100,000 tonnes of green methanol annually, valued at $1 billion. This significant deal aims to bolster the shipping industry's shift to low-carbon alternatives, meeting stringent international environmental standards. The renewable fuel, produced in Odisha, will support the global transition to sustainable energy markets.
Vedanta Power, Iron & Steel and Oil & Gas shares crash up to 8%. What’s triggering the selloff?
Vedanta shares saw profit-taking after a strong rally in newly demerged entities, with most segments falling up to 8% over 14 sessions. Vedanta Aluminium Metal outperformed and gained 2%, drawing bullish calls from brokers including Emkay and Citi, which see strong upside potential driven by global aluminium demand, cost efficiencies, and improving leverage, making it the preferred long-term pick.
Rajesh Palviya of Axis Sec suggests Five-Star Business, Apollo Tyres, Exide Industries shares to buy today
Sensex and Nifty 50 surged on Friday, driven by IT stocks amid optimism from softer US jobs data. Nifty 50 rose 0.83% to 24,375.65, with 15 of 16 sectoral indices in the green, reflecting positive market sentiment despite ongoing global uncertainties.
India emerging as reliable green fuel supplier: Renewable Energy Secretary Santosh Kumar Sarangi
India is emerging as a key global supplier of clean fuels, with significant long-term agreements for green ammonia and methanol to Japan. These deals, involving ACME Group and Japanese corporations, underscore India's growing role in international green hydrogen value chains. The nation's cost-competitive production capabilities are set to bolster global decarbonization efforts and energy security, as highlighted by Japan's Ministry of Economy, Trade and Industry.
India's solar sector a big opportunity, could become exporter to Europe: Renewables Norway CEO
India's burgeoning solar power sector is a significant driver for global climate action, according to Renewables Norway CEO Bard Vegar Solhjell. He highlighted India's potential to become a major exporter of solar components to Europe if it develops its manufacturing capabilities.