The National Financial Reporting Authority (NFRA) has fined Deloitte Haskins & Sells LLP Rs 2 crore for lapses in auditing Zee Entertainment during the 2018-19 and 2019-20 financial years. 

NFRA imposes Rs 2 crore fine on Deloitte for audit lapses

The regulator had suo motu examined the audit file for the statutory audit of Zee Entertainment Enterprises Ltd (ZEEL) for the given periods to assess whether the auditor committed any professional misconduct.

The National Financial Reporting Authority (NFRA) has imposed a fine of Rs 2 crore on Deloitte Haskins &amp; Sells LLP as well as penalties on two chartered accountants for lapses in the auditing of Zee Entertainment Enterprises Ltd during the 2018-19 and 2019-20 financial years.
Along with slapping a fine of Rs 10 lakh, A B Jani has been barred from taking up any audit work for 5 years, while the fine is Rs 5 lakh on Rakesh Sharma, and the debarment period is 3 years.
Jani was the Engagement Partner (EP), and Sharma was the Engagement Quality Control Review (EQCR) Partner for the audit of the company for 2018-19 and 2019- 20.
The regulator had suo motu examined the audit file for the statutory audit of Zee Entertainment Enterprises Ltd (ZEEL) for the given periods to assess whether the auditor committed any professional misconduct.
After examining the audit file and responses of the audit firm to its queries as well as other records, NFRA said prima facie auditors had not discharged their professional duties under the Companies Act as well as the Standards on Auditing (SA).
In its 30-page order dated December 23, NFRA said auditors failed to meet the relevant requirements of the SAs and violated the Act in respect of certain significant related party transactions.
The watchdog has imposed a monetary penalty of Rs 2 crore on Deloitte Haskins &amp; Sells LLP, apart from penalties on Jani and Sharma.
Both individuals have been debarred from "being appointed as an auditor or internal auditor or from undertaking any audit in respect of financial statements or internal audit of the functions and activities of any company or body corporate," for varying periods.
The ban on Jani and Sharma is for 5 and 3 years, respectively.
A Deloitte spokesperson said it has received the NFRA order against the firm and two retired partners.
"We are currently reviewing the order to determine our next course of action," the spokesperson said in a statement.
In September 2018, the ZEEL Chairman, who is also the promoter of Essel Group of companies, issued a letter to Yes Bank, committing Rs 200 crore fixed deposit of ZEEL as a guarantee for the loans given by Yes Bank to a promoter group company Essel Green Mobility Ltd.
The bank appropriated the fixed deposit in July 2019 towards the settlement of loan amounts due from seven promoter group companies.
"Neither the creation and maintenance of fixed deposit nor its reappropriation by the bank was with the approval of the board or shareholders of the company. The statutory auditors failed to identify and report this misrepresentation," the regulator said.
Further, NFRA said its examination showed that the auditors were grossly negligent, failed to apply professional scepticism and due diligence, did not adequately challenge the management's assertions, and failed to evaluate the reporting of suspected fraud.
This was evident from unauthorised guarantees/securities, premature closure of the fixed deposit by the bank and unauthorised use of ZEEL's funds for settling the loan of the promoter group companies, with the knowledge of the Chairman of the group and management of ZEEL, the regulator said in the order.
A show cause notice was issued to the audit firm and the two auditors, and after considering their responses, the watchdog found that the audit firm and the two auditors "are guilty of professional misconduct".
Subsequently, the latest order was passed by it.

As global markets enter 2025, uncertainty over policy directions and economic challenges loom large, with investor focus shifting toward reforms and geopolitical developments.

Asian Markets Edge Higher Amid Dollar Strength and Holiday Calm

As global markets enter 2025, uncertainty over policy directions and economic challenges loom large, with investor focus shifting toward reforms and geopolitical developments.

Asian stocks saw modest gains on Tuesday, navigating a subdued holiday trading week as investors digested the implications of elevated U.S. Treasury yields and fewer anticipated Federal Reserve rate cuts in 2025. The dollar remained near a two-year high, maintaining pressure on commodities and emerging markets.
Regional Market Highlights
The MSCI Asia-Pacific ex-Japan index climbed 0.35%, tracking Wall Street&rsquo;s overnight rise. However, Japan&rsquo;s Nikkei dipped 0.37%, while the Topix inched down 0.03%.
In China, the CSI300 index rose 0.5%, and the Shanghai Composite added 0.47%. Hong Kong's Hang Seng index led gains with a 0.7% jump.
Despite gains, investor sentiment toward China remains cautious due to a sluggish economic recovery and persistent real estate woes. Ronald Temple, Chief Market Strategist at Lazard, warned of potential growth hurdles, citing the ongoing property crisis and possible trade tensions with the U.S.
Corporate Developments in Focus
Japan: Nippon Steel&rsquo;s bid for U.S. Steel faced delays as the Committee on Foreign Investment in the United States (CFIUS) cited unresolved national security concerns.
Meanwhile, Honda's shares soared nearly 17%, while Nissan&rsquo;s eased 0.07%, as both companies confirmed merger talks, signalling a strategic pivot in response to rising competition from Chinese EV makers.
Currencies: The dollar index held firm at 108.11, driven by robust U.S. Treasury yields, with the two-year yield at 4.33% and the 10-year at 4.58%.
The yen weakened to a five-month low at 157.11 per dollar, prompting Japan&rsquo;s Finance Minister to reaffirm Tokyo's readiness to intervene against excessive currency fluctuations.
Global Economic Context
Markets are now pricing 35 basis points of U.S. rate cuts for 2025, significantly below previous expectations. Analysts at Citi Wealth noted that the Fed&rsquo;s outlook would be shaped by U.S. labour market trends and policies on tariffs and immigration.
U.S. consumer confidence dipped unexpectedly in December, reflecting post-election uncertainty.
Meanwhile, global central banks urged caution ahead of President-elect Donald Trump&rsquo;s January inauguration, citing potential economic policy shifts involving tariffs, taxes, and immigration.
Commodities and Oil
The dollar&rsquo;s strength and high bond yields weighed on gold, which held at $2,615.59 per ounce after a 1% drop last week. Brent crude futures rose 0.37% to $72.90 per barrel, while U.S. crude gained 0.35%, reaching $69.48.
As global markets enter 2025, uncertainty over policy directions and economic challenges loom large, with investor focus shifting toward reforms and geopolitical developments. (With Inputs from Agency)

India’s crude oil imports rose by 2.6% year-on-year in November to 19.07 million metric tons, driven by strong economic and travel activity, according to government data.

Oil Prices Edge Higher Amid Strong U.S. Economic Data, Rising Indian Demand

India&rsquo;s crude oil imports rose by 2.6% year-on-year in November to 19.07 million metric tons, driven by strong economic and travel activity, according to government data.

Oil prices edged higher on Tuesday in light trading ahead of the Christmas holiday, buoyed by robust U.S. economic data and increased oil demand in India, the world&rsquo;s third-largest oil importer.
Brent crude futures rose 33 cents (0.45%) to $72.95 a barrel, while U.S. West Texas Intermediate (WTI) crude futures climbed 29 cents (0.42%) to $69.53 a barrel as of 0114 GMT.&nbsp;
Strong U.S. economic indicators, including a surge in new orders for key manufactured goods in November and a rebound in home sales, signalled a resilient economy heading into the year-end. As the top global oil consumer, U.S. demand remains a key market driver.
Short-term traders are awaiting data from the American Petroleum Institute (API) later Tuesday, with analysts predicting a 2-million-barrel drop in U.S. crude inventories for the week ending Dec. 20, indicating healthy demand. The Energy Information Administration is set to release its data on Friday.
WTI crude hovered around $69.50 over the last three sessions, with limited market activity ahead of the holiday season. Tony Sycamore, an IG market analyst, noted a likely narrow trading range around this level until Wall Street reopens on Dec. 27.
India&rsquo;s crude oil imports rose by 2.6% year-on-year in November to 19.07 million metric tons, driven by strong economic and travel activity, according to government data.
In the Middle East, mediators from Egypt, Qatar, and the U.S. have advanced efforts to broker a ceasefire between Israel and Hamas. While significant progress has been made, key differences remain unresolved, according to officials from both sides. (With Input from Agencies)

On December 23, 2024, Nifty Bank and FMCG sectors posted strong gains, while Nifty Auto saw a slight decline. Read the latest market update on sector performance and key trends in the Indian stock market.

Nifty Bank and FMCG Lead Gains; Nifty Auto Declines – Market Summary December 23, 2024

On December 23, 2024, Nifty Bank and FMCG sectors showed strong gains, while Nifty Auto faced a slight decline. Discover the latest trends and sector performance in the Indian stock market.

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<div class="relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8">On December 23, 2024, Nifty Bank and FMCG saw strong gains, while Nifty Auto faced a slight decline. The market showed positive momentum, driven by key sectors like banking and FMCG.</div>
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The Nifty indices on December 23, 2024, showed a mixed performance across different sectors, highlighting both opportunities and challenges within the Indian stock market.
<img src="https://cdn.editorji.com/67695a227ea5b_1734957602.png" width="458" height="260">
This article provides an overview of the performances of Nifty 50, Nifty Bank, Nifty IT, Nifty Auto, Nifty FMCG, Nifty Infra, Nifty Energy, and Nifty Metal, giving a snapshot of each sector's movements.
Detailed Performance Analysis
1. Nifty 50:
The Nifty 50 showed a steady performance with a +0.70% increase, gaining 165.95 points to close at 23,753.45. This reflects the resilience in the broader market, driven by a positive sentiment in key sectors like financials and technology.
<img src="https://cdn.editorji.com/67695b469ecf4_1734957894.png" width="513" height="228">
Key Takeaway:
The Nifty 50 indicates moderate growth, with a promising outlook as it benefits from the stability in major blue-chip stocks.
2. Nifty Bank:
The Nifty Bank sector demonstrated significant strength, rising by +1.10%, with a gain of 558.40 points. This increase points to a solid performance in the banking sector, which has been a key contributor to market growth.
<img src="https://cdn.editorji.com/67695b55c9cce_1734957909.png" width="504" height="224">
Key Takeaway:
A solid rally in the Nifty Bank suggests that investor confidence in the banking sector remains strong, supported by economic recovery and improving credit growth.
3. Nifty IT:
The Nifty IT sector posted a modest gain of +0.13%, adding 57.30 points. While the growth is relatively muted, the positive trend continues, especially driven by the tech giants and strong export demand.
<img src="https://cdn.editorji.com/67695b83b32fa_1734957955.png" width="441" height="196">
Key Takeaway:
The Nifty IT sector remains stable, with moderate growth driven by the global demand for IT services and digital transformation.
4. Nifty Auto:
The Nifty Auto sector witnessed a slight decline of -0.10%, losing 22.25 points. This performance could be attributed to the challenges in the automotive sector, including high raw material costs and production challenges.
<img src="https://cdn.editorji.com/67695b9a223da_1734957978.png" width="461" height="205">
Key Takeaway:
Nifty Auto faces headwinds, but a recovery in demand for electric vehicles and other innovations could support long-term growth.
5. Nifty FMCG:
The Nifty FMCG sector showed a healthy gain of +0.96%, increasing by 534.25 points. This suggests continued consumer demand for essential goods, as well as a positive outlook for the sector in the post-pandemic period.
<img src="https://cdn.editorji.com/67695bab39e53_1734957995.png" width="446" height="198">
Key Takeaway:
The Nifty FMCG index remains a strong performer, benefiting from steady consumer demand and increased consumption in urban and rural areas.
6. Nifty Infra:
The Nifty Infra sector gained +0.68%, adding 57.70 points. This is reflective of ongoing investments in infrastructure development and the government's focus on the sector for long-term growth.
<img src="https://cdn.editorji.com/67695bbd266bc_1734958013.png" width="455" height="202">
Key Takeaway:
Nifty Infra continues to benefit from government initiatives and infrastructure projects, indicating a positive outlook for the sector.
7. Nifty Energy:
The Nifty Energy sector also saw a rise of +0.68%, adding 237.15 points. This performance suggests a recovery in energy stocks, driven by rising global energy prices and demand for clean energy solutions.
<img src="https://cdn.editorji.com/67695bcc92cad_1734958028.png" width="493" height="219">
Key Takeaway:
Nifty Energy is benefiting from rising energy prices and increasing investments in renewable energy, positioning it well for future growth.
8. Nifty Metal:
The Nifty Metal sector showed an impressive gain of +0.89%, gaining 78.15 points. The surge is attributed to the global recovery in metal prices and increased demand for commodities.
<img src="https://cdn.editorji.com/67695bd6a80a9_1734958038.png" width="477" height="212">
Key Takeaway:
The Nifty Metal index continues to benefit from the global commodity rally, with strong demand for metals in industrial applications and infrastructure projects.
Conclusion: Sector-wise Performance Snapshot
On December 23, 2024, the Nifty indices showed varied results across different sectors:
Nifty Bank led the charge with significant gains, followed by steady growth in Nifty 50, FMCG, and Energy. Nifty IT and Infra posted modest gains, while Nifty Auto faced a slight decline.
Nifty Metal continued to thrive due to strong demand for commodities.
This indicates a mixed sentiment in the Indian stock market, with sectors like banking and FMCG seeing strong growth, while others like auto face challenges. Overall, the market shows positive momentum, driven by key sectors that are poised for long-term growth.

Get the latest global stock market update for December 23, 2024. U.S. markets show gains, Europe remains stable, and Asia and India exhibit positive growth, with key indices like the Dow Jones, NASDAQ, Nikkei 225, and Nifty 50 showing strong momentum

Global Stock Market Update: U.S. Gains, Europe Stable, Asia & India Show Optimism – December 23, 2024

Explore the global stock market performance on December 23, 2024, with U.S. markets rising, Europe showing stability, and positive momentum in Asia and India, including key indices like Dow Jones, NASDAQ, Nikkei 225, and Nifty 50.

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<div class="relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8">On December 23, 2024, U.S. markets rose, driven by tech and industrial gains. European markets were stable, while Asia and India showed positive momentum.</div>
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The international stock market indices showed varied performances on December 23, 2024, reflecting the economic sentiment across different regions.
In this article, we analyze the performance of key global indices including the S&amp;P 500, Dow Jones Industrial Average, NASDAQ Composite, FTSE 100, DAX, CAC 40, IBEX 35, Nikkei 225, Hang Seng, Nifty 50, and BSE Sensex.
<img src="https://cdn.editorji.com/676955f865cd1_1734956536.png" width="428" height="243">
These indices are grouped by their respective regions to provide a comprehensive view of the global market landscape.
Regional Breakdown of Global Indices Performance
1. North America:
<img src="https://cdn.editorji.com/6769578b3e218_1734956939.png" width="421" height="187">
S&amp;P 500: The index saw a positive movement of +1.09%, adding 63.77 points to close higher. The index is supported by the positive momentum from key technology and healthcare sectors.
<img src="https://cdn.editorji.com/676957cd90e5d_1734957005.png" width="452" height="201">
Dow Jones Industrial Average: This index performed exceptionally well, showing a +1.18% increase, adding 498.02 points to close strongly. A strong performance in industrials and financials helped the index to stay in the positive zone.
<img src="https://cdn.editorji.com/676957f6d2003_1734957046.png" width="432" height="192">
NASDAQ Composite: The tech-heavy index gained +1.03%, adding 199.83 points. The continued strength of the tech sector has been the key driver of this rise.
Key Takeaways for North America:
North American indices are riding high on positive sentiment in the tech, industrial, and financial sectors, with Dow Jones leading in points gained.
The NASDAQ's growth indicates continued investor confidence in technology stocks.
2. Europe:
FTSE 100: The UK index showed a modest increase of +0.11%, adding 9.16 points. The index showed stability despite global economic uncertainties.
<img src="https://cdn.editorji.com/6769581d32cc6_1734957085.png" width="446" height="198">
DAX: The German index remained nearly flat, with a slight loss of 0.48 points, reflecting a -0.00% change. This shows a wait-and-see approach by investors in Germany.
<img src="https://cdn.editorji.com/676958384610f_1734957112.png" width="416" height="185">
CAC 40: France&rsquo;s index experienced a slight dip of -0.07%, losing 5.34 points. The overall economic outlook in the region remains cautious.
<img src="https://cdn.editorji.com/67695855b8617_1734957141.png" width="434" height="193">
Key Takeaways for Europe:
FTSE 100 and DAX show resilience with minor fluctuations, while CAC 40 is slightly underperforming. Investors are cautious in Europe, with mixed sentiment driven by regional economic concerns.&nbsp;
3. Spain:
IBEX 35: Spain&rsquo;s index fell by -0.19%, losing 22.30 points. The slight decline is due to market consolidation in the region.
<img src="https://cdn.editorji.com/676958620ea73_1734957154.png" width="464" height="206">
Key Takeaway for Spain:
The IBEX 35 reflects minor volatility, signaling a period of adjustment in the Spanish stock market.&nbsp;
4. Asia:
Nikkei 225: Japan&rsquo;s index posted an impressive rise of +1.19%, adding 459.44 points. The rally was driven by strength in technology and consumer goods stocks.
<img src="https://cdn.editorji.com/6769588366fa2_1734957187.png" width="459" height="204">
Hang Seng Index: Hong Kong&rsquo;s index rose by +0.82%, adding 162.43 points, indicating a positive sentiment despite geopolitical tensions in the region.
<img src="https://cdn.editorji.com/67695896c4d0e_1734957206.png" width="468" height="208">
Key Takeaways for Asia:
Nikkei 225's robust performance is a sign of confidence in Japan&rsquo;s market, supported by strong technology and consumer sectors.
Hang Seng's positive movement highlights regional recovery in Asia.
5. India:
Nifty 50: The Indian index saw a modest rise of +0.70%, gaining 165.95 points. This reflects positive market sentiment following economic reforms and a bullish outlook for Indian equities.
<img src="https://cdn.editorji.com/676958ad7f365_1734957229.png" width="464" height="206">
BSE Sensex: The index also posted a gain of +0.64%, adding 498.58 points, driven by gains in key sectors like IT and financials.
<img src="https://cdn.editorji.com/676958b526b7c_1734957237.png" width="486" height="216">
Key Takeaways for India:
Nifty 50 and BSE Sensex show stable growth, backed by the performance of the financial and IT sectors.
India&rsquo;s market sentiment remains optimistic, with strong investor confidence.
Conclusion: A Global Snapshot
The global stock market indices saw varied performances on December 23, 2024. Key takeaways include:
North America: Positive growth led by the Dow Jones and NASDAQ indicates a bullish outlook for the U.S. market.
Europe: Mixed performances in FTSE 100, DAX, and CAC 40, showing stability but cautious sentiment in the region.
Asia: Strong growth in Nikkei 225 and Hang Seng signals optimism, particularly in Japan and Hong Kong.
India: Nifty 50 and BSE Sensex showed moderate growth, reflecting positive sentiment in Indian equities.
Overall, the U.S. markets are leading the charge, while Asian and Indian indices are showing optimism.
European markets are maintaining stability but with more caution, particularly in Germany and France.

Analyze the Nifty 50 stocks on December 23, 2024, with a focus on the top losers like HEROMOTOCO, MARUTI, and BAJAJFINSV. Explore key technical indicators such as MACD, RSI, and EMA to understand market trends and potential for stock recovery.

Nifty 50 Stock Analysis – December 23, 2024: Top Losers & Technical Indicators

Explore a detailed analysis of Nifty 50 stocks on December 23, 2024, focusing on the top losers like HEROMOTOCO, MARUTI, and BAJAJFINSV. Understand key technical indicators such as MACD, RSI, and EMA to gauge the market trends and potential for a stock rebound.

On December 23, 2024, Nifty 50 stocks showed mixed performance. HEROMOTOCO led losses with bearish indicators, while MARUTI and BAJAJFINSV also faced declines. HCLTECH and HDFCLIFE showed neutral to oversold conditions, suggesting potential for a rebound.

The Nifty 50 stocks experienced a mixed performance on December 23, 2024, with HEROMOTOCO leading the losses.
The analysis of key technical indicators such as the RSI, MACD, and EMA shows that many of these stocks are under pressure, with the potential for either further declines or possible reversals depending on market conditions.
<img src="https://cdn.editorji.com/676952542e443_1734955604.png" width="416" height="236">
Traders and investors should monitor the RSI for signs of oversold conditions, and the MACD for any positive crossovers, as these could signal a change in trend.
1. HEROMOTOCO &ndash; Stock Analysis for December 23, 2024
Opening Price: 4365.00 Closing Price: 4272.60 High Price: 4375.50 Low Price: 4258.35 % Change: -1.55% Points Change: -67.35 Volume: 931,136
Key Technical Indicators:
50 EMA: 4597.79 200 EMA: 4631.09 10 EMA: 4447.18 20 EMA: 4530.72 RSI: 22.53 (Indicating oversold conditions) MACD: -85.31 MACD Signal: -55.17
Analysis:
HEROMOTOCO witnessed a significant decline of -1.55% today, closing at 4272.60.
<img src="https://cdn.editorji.com/676952a597735_1734955685.png" width="413" height="209">
EMA Indicators: The stock is trading far below both the 50 EMA and 200 EMA, showing a strong bearish trend. The 10 EMA is also lower than the 20 EMA, which further supports the negative sentiment.
<img src="https://cdn.editorji.com/676952cd0d43b_1734955725.png" width="416" height="154">
RSI: The RSI of 22.53 signals that the stock is in the oversold zone, meaning it could be due for a rebound, but this is contingent upon broader market conditions.
<img src="https://cdn.editorji.com/676952df5c772_1734955743.png" width="408" height="151">
MACD: The MACD is negative (-85.31) and below its signal line (-55.17), confirming a downtrend. A crossover of the MACD and signal line could indicate a reversal, but currently, the trend is bearish.
2. MARUTI &ndash; Stock Analysis for December 23, 2024
Opening Price: 10928.00 Closing Price: 10822.00 High Price: 10989.80 Low Price: 10755.40 % Change: -0.73% Points Change: -79.05 Volume: 237,094
Key Technical Indicators:
50 EMA: 11105.03 200 EMA: 11110.18 10 EMA: 11037.56 20 EMA: 11086.10 RSI: 35.81 MACD: -40.08 MACD Signal: -0.35
Analysis:
MARUTI dropped by -0.73% today, ending at 10822.00.
<img src="https://cdn.editorji.com/676952fab3ca4_1734955770.png" width="417" height="211">
EMA Indicators: The stock is below both the 50 EMA and 200 EMA, suggesting a bearish trend. Additionally, the 10 EMA and 20 EMA are both below the 50 EMA, further indicating that the stock could face additional downward pressure.
<img src="https://cdn.editorji.com/676953235eb97_1734955811.png" width="416" height="154">
RSI: The RSI of 35.81 suggests that the stock is not yet in the oversold zone, but there is room for further declines before a potential reversal.
<img src="https://cdn.editorji.com/6769533069a40_1734955824.png" width="419" height="155">
MACD: The MACD is negative, at -40.08, indicating the bearish momentum remains intact. The signal line is near zero, which might indicate the stock is approaching a neutral position in the short term.
3. HCLTECH &ndash; Stock Analysis for December 23, 2024
Opening Price: 1918.50 Closing Price: 1903.00 High Price: 1939.40 Low Price: 1899.15 % Change: -0.44% Points Change: -8.35 Volume: 2,058,262
Key Technical Indicators:
50 EMA: 1906.37 200 EMA: 1898.32 10 EMA: 1927.16 20 EMA: 1918.86 RSI: 49.22 MACD: 11.04 MACD Signal: 13.97
Analysis:
HCLTECH closed with a modest loss of -0.44%, finishing at 1903.00.
<img src="https://cdn.editorji.com/67695360df0b1_1734955872.png" width="415" height="210">
EMA Indicators: The stock is slightly above the 50 EMA and 200 EMA, which suggests some bullish sentiment. However, it is still facing resistance near its 10 EMA and 20 EMA, which is pointing to a potential short-term consolidation.
<img src="https://cdn.editorji.com/67695375ca62f_1734955893.png" width="410" height="152">
RSI: The RSI of 49.22 indicates that the stock is in neutral territory, neither overbought nor oversold. This suggests that there may be limited immediate upside potential, but the stock is not under significant selling pressure either.
<img src="https://cdn.editorji.com/676953814d58e_1734955905.png" width="419" height="155">
MACD: The MACD is positive, at 11.04, indicating the stock is in a bullish trend. However, it is close to its signal line of 13.97, signalling that momentum may slow down if the stock fails to break resistance levels.
4. HDFCLIFE &ndash; Stock Analysis for December 23, 2024
Opening Price: 625.05 Closing Price: 622.55 High Price: 626.45 Low Price: 613.60 % Change: -0.20% Points Change: -1.25 Volume: 2,923,839
Key Technical Indicators:
50 EMA: 648.37 200 EMA: 654.97 10 EMA: 629.47 20 EMA: 638.06 RSI: 28.84 MACD: -10.07 MACD Signal: -9.67
Analysis:
HDFCLIFE had a minor drop of -0.20%, closing at 622.55.
<img src="https://cdn.editorji.com/676953aba3670_1734955947.png" width="421" height="213">
EMA Indicators: The stock remains significantly below the 50 EMA and 200 EMA, indicating the presence of a bearish trend. The 10 EMA is still lower than the 20 EMA, confirming that short-term momentum is negative.
<img src="https://cdn.editorji.com/676953dc7b98e_1734955996.png" width="413" height="153">
RSI: The RSI of 28.84 places the stock in the oversold zone, meaning there could be a potential for a price rebound. However, confirmation from other indicators is necessary.
<img src="https://cdn.editorji.com/676953eb48811_1734956011.png" width="416" height="154">
MACD: The MACD is negative, at -10.07, and below the signal line, which suggests that the downward trend is still dominant. A crossover of the MACD above the signal line could signal a reversal.
5. BAJAJFINSV &ndash; Stock Analysis for December 23, 2024
Opening Price: 1583.00 Closing Price: 1563.40 High Price: 1594.75 Low Price: 1560.55 % Change: -0.40% Points Change: -6.25 Volume: 1,017,369
Key Technical Indicators:
50 EMA: 1627.59 200 EMA: 1629.73 10 EMA: 1614.76 20 EMA: 1623.72 RSI: 30.33 MACD: -7.15 MACD Signal: 1.31
Analysis:
BAJAJFINSV ended the day with a slight decline of -0.40%, closing at 1563.40.
<img src="https://cdn.editorji.com/676953f8c8ebb_1734956024.png" width="423" height="214">
EMA Indicators: The stock is trading below both the 50 EMA and 200 EMA, indicating a bearish trend. Additionally, the 10 EMA and 20 EMA are positioned below the 50 EMA, suggesting further bearish momentum in the short term.
<img src="https://cdn.editorji.com/67695403cbd44_1734956035.png" width="424" height="157">
RSI: The RSI of 30.33 signals that the stock is in the oversold zone, which might present a buying opportunity, but the negative MACD indicates that the stock could continue to experience downward pressure.
<img src="https://cdn.editorji.com/6769540e6738a_1734956046.png" width="437" height="162">
MACD: The MACD is negative, at -7.15, signalling that the stock&rsquo;s downward trend is continuing. The signal line is above the MACD, confirming the bearish momentum.
Key Takeaways:
HEROMOTOCO experienced the largest loss, down -1.55%, reflecting significant weakness, with the stock's technical indicators showing oversold conditions.
MARUTI and BAJAJFINSV also faced declines of -0.73% and -0.40%, respectively, both stocks trading below their long-term EMAs, signalling bearish momentum.
HCLTECH saw a smaller loss of -0.44% and appears neutral, with a positive MACD and an RSI in the mid-range.
HDFCLIFE saw a decline of -0.20% but is in the oversold region according to its RSI, which could signal a potential rebound.
Most stocks have a negative MACD, indicating that bearish trends are still strong in the short term.

Get a detailed technical analysis of the top Nifty 50 gainers on December 23, 2024, including JSWSTEEL, ITC, HINDALCO, TRENT, and HDFCBANK. Explore key indicators like EMA, RSI, and MACD for insights into stock trends and potential.

Top Nifty 50 Gainers on December 23, 2024: Technical Analysis of JSWSTEEL, ITC, HINDALCO, TRENT, and HDFCBANK

Explore the technical performance of top Nifty 50 gainers on December 23, 2024, including JSWSTEEL, ITC, HINDALCO, TRENT, and HDFCBANK. This detailed analysis covers key indicators like EMA, RSI, and MACD to highlight the short-term and long-term trends.

On December 23, 2024, Nifty 50 saw solid gains from JSWSTEEL, ITC, HINDALCO, TRENT, and HDFCBANK. TRENT led with strong bullish indicators, while HDFCBANK showed sustained growth. JSWSTEEL and HINDALCO faced resistance despite short-term gains.

Today, the Nifty 50 index saw significant movements, particularly among its top gainers.
This article explores the performance of the top stocks&mdash;JSWSTEEL, ITC, HINDALCO, TRENT, and HDFCBANK&mdash;on December 23, 2024, focusing on key technical indicators such as Exponential Moving Averages (EMA), Relative Strength Index (RSI), and Moving Average Convergence Divergence (MACD).
These indicators provide valuable insights into the short-term and long-term potential of these stocks.
<img src="https://cdn.editorji.com/676943686e139_1734951784.png" width="501" height="378">
Detailed Technical Analysis of the Top Gainers
1. JSWSTEEL
Price Action: The stock opened at ₹936, reached a high of ₹950.95, and a low of ₹921.60, closing at ₹937.05, marking a 2.15% increase with a +19.70 points change.
EMA: The stock remains below both its 50-day EMA (₹971.10) and 200-day EMA (₹971.28), signalling a bearish long-term trend.
RSI: RSI stands at 37.78, indicating neutral market sentiment, without being oversold or overbought.
<img src="https://cdn.editorji.com/67694959c9528_1734953305.png" width="500" height="185">
MACD: The MACD is negative (-8.18) and below the signal line (-0.09), confirming a short-term bearish sentiment.
<img src="https://cdn.editorji.com/6769496ba4354_1734953323.png" width="500" height="185">
Key Takeaways:
Bearish Long-Term Trend: Despite today's positive movement, long-term technical indicators suggest caution.
RSI &amp; MACD Analysis: The stock has the potential to rise but may face resistance in the future.
2. ITC
Price Action: ITC opened at ₹471.20, hit a high of ₹477.70, and a low of ₹467.60, closing at ₹474.25, marking a 2.07% rise with a +9.60 points change.
<img src="https://cdn.editorji.com/67694989700d9_1734953353.png" width="500" height="253">
EMA: The stock is trading above its 200-day EMA (₹470.24) but below its 50-day EMA (₹469.83), suggesting a mixed outlook.
RSI: RSI at 54.84 shows balanced market sentiment with no extreme overbought or oversold conditions.
<img src="https://cdn.editorji.com/676949a1755d1_1734953377.png" width="502" height="192">
MACD: MACD is negative (-0.49) and below the signal line (-0.79), suggesting a cautious outlook despite today&rsquo;s gain.
<img src="https://cdn.editorji.com/676949adb74ed_1734953389.png" width="507" height="194">
Key Takeaways:
Neutral Sentiment: ITC shows potential for further upside, but the stock is under pressure from the MACD and RSI readings.
Mixed EMA Outlook: Short-term resistance is expected near the 50-day EMA.
3. HINDALCO
Price Action: HINDALCO opened at ₹625.55, touched a high of ₹635.90, and a low of ₹625.55 before closing at ₹634.15, reflecting a 1.85% increase with +11.50 points change.
<img src="https://cdn.editorji.com/676949f7ccde7_1734953463.png" width="503" height="242">
EMA: The stock remains below its 50-day EMA (₹652.08), but above its 200-day EMA (₹652.71), suggesting a slight downtrend.
RSI: RSI at 39.17 is close to oversold conditions, which could indicate an impending price reversal.
<img src="https://cdn.editorji.com/67694a0d023d2_1734953485.png" width="507" height="194">
MACD: The MACD is below the signal line (-5.57), indicating that the stock may face resistance in its short-term bullish run.
<img src="https://cdn.editorji.com/67694a1858e47_1734953496.png" width="500" height="185">
Key Takeaways:
Bearish Medium-Term Outlook: Although showing a short-term gain, the stock remains under pressure in the long term.
Watch for Reversal: The stock may bounce back if RSI shows a reversal from oversold territory.
4. TRENT
Price Action: TRENT opened at ₹6,870, reached a high of ₹7,070, and a low of ₹6,860.05, closing at ₹6,946, marking a 1.68% increase with +114.45 points change.
<img src="https://cdn.editorji.com/67694a2ecacb3_1734953518.png" width="494" height="250">
EMA: The stock is above both its 50-day EMA (₹6,841.36) and 200-day EMA (₹6,791.50), indicating strong bullish momentum.
RSI: RSI at 55.80 shows that the stock is in an uptrend, nearing overbought conditions.
MACD: MACD at 62.65 above the signal line suggests strong bullish momentum, confirming a potential for continued price growth.
Key Takeaways:
Strong Bullish Momentum: Both RSI and MACD indicate that TRENT is likely to continue its upward trend in the near term.
RSI Caution: As RSI nears overbought territory, watch for potential pullbacks if the momentum fades.
5. HDFCBANK
Price Action: HDFCBANK opened at ₹1,782, touched a high of ₹1,806, and a low of ₹1,781.30, closing at ₹1,801, marking a 1.67% rise with +29.50 points change.
EMA: The stock is above both its 50-day EMA (₹1,809.87) and 200-day EMA (₹1,801.31), indicating a strong bullish trend.
RSI: RSI at 47.73 indicates a neutral sentiment, with no overbought or oversold conditions. MACD: MACD at 3.08, above the signal line, suggests that the stock is in a steady uptrend.
Key Takeaways:
Sustained Bullish Momentum: HDFCBANK remains in a strong uptrend, supported by its position above the key EMAs.
Neutral RSI: No overbought or oversold condition, giving the stock room to grow.
Conclusion:
On December 23, 2024, the Nifty 50 experienced a day of solid performances, particularly from TRENT, HDFCBANK, JSWSTEEL, ITC, and HINDALCO.
TRENT emerged as the top gainer, with its strong technicals, including bullish MACD and RSI, signalling further growth potential.
HDFCBANK continues to hold a strong position above key EMAs, supported by positive MACD and neutral RSI. JSWSTEEL and HINDALCO showed short-term gains, but their longer-term trends remain slightly bearish, as indicated by their EMAs and MACD readings.
Key Takeaways:
MACD &amp; RSI Analysis: TRENT and HDFCBANK show strong bullish momentum, while JSWSTEEL and HINDALCO may face resistance in the long run.
Watch EMAs: Stocks above their 50-day and 200-day EMAs, like TRENT and HDFCBANK, signal strong trends, while those below, like JSWSTEEL, may struggle.

From the 30 blue-chip stocks, Bajaj Finance, HDFC Bank, ITC, ICICI Bank, Bharti Airtel, Tata Steel, Reliance Industries and Axis Bank were the biggest gainers.

Indian Stock Market stage sharp recovery after five days of fall

From the 30 blue-chip stocks, Bajaj Finance, HDFC Bank, ITC, ICICI Bank, Bharti Airtel, Tata Steel, Reliance Industries and Axis Bank were the biggest gainers.

Equity benchmark indices Sensex and Nifty bounced back sharply on Monday morning after five days of steep decline amid value buying at lower levels and a rally in global markets.
Buying in blue-chip stocks also helped in markets recovery.
The 30-share BSE benchmark Sensex jumped 628.34 points to 78,669.93 in early trade. The NSE Nifty surged 219 points to 23,806.50.
From the 30 blue-chip stocks, Bajaj Finance, HDFC Bank, ITC, ICICI Bank, Bharti Airtel, Tata Steel, Reliance Industries and Axis Bank were the biggest gainers.
New entrants Zomato and Sun Pharma were the laggards.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the positive territory.
Wall Street ended higher on Friday.
In the past five days, the BSE benchmark tanked 4,091.53 points or 4.98 per cent, and the Nifty slumped 1,180.8 points or 4.76 per cent.
Nifty is witnessing a relief rally today after last week's sell-off, but caution still lingers with FIIs selling, Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,597.82 crore on Friday, according to exchange data.
Global oil benchmark Brent crude climbed 0.47 per cent to USD 73.28 a barrel.
The 30-share BSE benchmark tumbled 1,176.46 points or 1.49 per cent to settle at 78,041.59 on Friday. The Nifty tanked 364.20 points or 1.52 per cent to 23,587.50.
(Except for the headline, this story has not been edited by Editorji News Desk and is published from a syndicated feed.)

The International Air Transport Association (IATA) represents around 340 airlines, including Indian carriers, that account for more than 80 per cent of the global air traffic.

India has potential to be key sustainable aviation fuel producer: IATA

The International Air Transport Association (IATA) represents around 340 airlines, including Indian carriers, that account for more than 80 per cent of the global air traffic.

India has the potential to be a key producer of sustainable aviation fuel by utilising its ethanol supplies and availability of lipids feedstocks like non-edible industrial oils, according to a senior official at the global airlines&rsquo; grouping IATA.
With decarbonisation in focus, efforts are being made to reduce emissions and over the years, Indian carriers have operated some flights with a blend of Sustainable Aviation Fuel (SAF) and traditional Aviation Turbine Fuel (ATF).
Hemant Mistry, Director of Net Zero Transition at the International Air Transport Association (IATA), said the ecosystem for SAF has developed but there is more work to be done.
&ldquo;There are some very good opportunities for India right now. One is in terms of SAF feedstocks like agricultural waste... There is a growing understanding of what to do for SAF production. We are talking to a number of companies to understand how we can collaborate... Oil companies,&rdquo; Mistry told PTI in a recent interview in Geneva.
The International Air Transport Association (IATA) represents around 340 airlines, including Indian carriers, that account for more than 80 per cent of the global air traffic.
&ldquo;India, the third largest ethanol producer and consumer today, has the potential to emerge as a key SAF producer utilising its existing and advanced ethanol supplies.
&ldquo;At IATA, we see sustainable, low-carbon-intensity ethanol as a promising feedstock to propel India&rsquo;s aviation sector growth,&rdquo; Mistry said.
This year, global SAF production is estimated at 1 million tonnes (1.3 billion litres), lower than the earlier projection of 1.5 million tonnes (1.9 billion litres) but higher than the volume of 0.5 million tonnes (600 million litres) recorded in 2023, according to IATA.
As the aviation sector pursues ambitious efforts for decarbonisation, IATA has said SAF production growth is disappointingly slow.
While noting that India is poised to emerge as the world&rsquo;s third-largest aviation market, Mistry said there is also the opportunity for the country to emerge as a SAF hub in the region.
&ldquo;The position can be further strengthened by the early adoption of innovative global accounting practices where India&rsquo;s SAF supplies can cater to the global aviation market, a true mark of act local, think global,&rdquo; he noted.
India is one of the world&rsquo;s fastest-growing civil aviation markets and airlines are expanding their fleets as well as networks to cater to the rising traffic demand.
On mandating the use of SAF, Mistry pointed out that the mandate is a work for scale but that can only come later. &ldquo;You can&rsquo;t have a mandate without technology maturity. That is a big risk.&rdquo;
In 2025, IATA expects SAF production to touch 2.1 million tonnes (2.7 billion litres).
India has the availability of lipids feedstocks like non-edible industrial oils, animal fats and tallows where the supply chains are not well developed with limited supply for biodiesel production, Mistry said.
The country&rsquo;s surplus annual biomass availability is estimated to be more than 200 Mt.
With multiple options available for road fleets, lipids-based feedstock must be used for India&rsquo;s SAF value chains. These oily feedstocks can be utilised at existing refineries by ASTM-qualified HEFA co-processing pathways, Mistry said.
Consultancy Deloitte, in a report in October this year, said India has the potential to produce 8-10 million tonnes of Sustainable Aviation Fuel (SAF) by 2040, and investments worth USD 70-85 billion will be required to achieve the projected production.
On the priorities under the SAF umbrella, Mistry said it is a question of more support to get the technologies to maturity and enable some sort of market development.
&ldquo;We should not have feedstock criteria that are regionally divergent. We should have sustainability criteria that are universally acknowledged,&rdquo; he added.
There are 11 certified pathways to make SAF and the HEFA method (Hydrotreated Esters Fatty Acids) is projected to account for around 80 per cent of the production in the next five years.
HEFA method utilises used cooking oil and animal fats, among others.
As per the airlines&rsquo; grouping, SAF volumes could be boosted by increasing investments to scale up production through the other certified pathways, in particular Alcohol-to-Jet (AtJ) and Fischer-Tropsch (FT), which use biological and agricultural wastes and residue.
&ldquo;The airline industry&rsquo;s decarbonisation must be seen as part of the global energy transition, not compartmentalised as a transport issue... Renewable fuel refineries will produce a broad range of fuels used by other industries, and only a minor share will be SAF, used by airlines,&rdquo; IATA Senior Vice President Sustainability and Chief Economist Marie Owens Thomsen said last week.
(Except for the headline, this story has not been edited by Editorji News Desk and is published from a syndicated feed.)

“The Indian equity market recorded its steepest weekly decline since June 2022, with the Nifty losing 4.77 per cent. The week began with the US Federal Reserve’s announcement, which significantly altered market sentiment.

Market Cap of India's top-10 most valued firms slumps Rs 4.95 lakh Crore

&ldquo;The Indian equity market recorded its steepest weekly decline since June 2022, with the Nifty losing 4.77 per cent. The week began with the US Federal Reserve&rsquo;s announcement, which significantly altered market sentiment.

The combined market valuation of all the top-10 most valued firms plunged Rs 4,95,061 crore last week, in line with a bearish trend in equities, where Tata Consultancy Services and Reliance Industries faced the sharpest erosion.
Last week, the BSE benchmark tanked 4,091.53 points or 4.98 per cent.
&ldquo;The Indian equity market recorded its steepest weekly decline since June 2022, with the Nifty losing 4.77 per cent. The week began with the US Federal Reserve&rsquo;s announcement, which significantly altered market sentiment.
&ldquo;Led by Chair Jerome Powell, the Federal Reserve revised its outlook to only two rate cuts in 2025 instead of the previously anticipated four. This shift in policy dampened market confidence,&rdquo; Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd, said.
The market capitalisation (mcap) of Tata Consultancy Services (TCS) slumped from Rs 1,10,550.66 crore to Rs 15,08,036.97 crore.
The valuation of Reliance Industries tumbled Rs 91,140.53 crore to Rs 16,32,004.17 crore.
HDFC Bank&rsquo;s market valuation eroded by Rs 76,448.71 crore to Rs 13,54,709.35 crore and that of Bharti Airtel tanked by Rs 59,055.42 crore to Rs 8,98,786.98 crore.
The mcap of State Bank of India plunged Rs 43,909.13 crore to Rs 7,25,125.38 crore and that of ICICI Bank diminished by Rs 41,857.33 crore to Rs 9,07,449.04 crore.
The valuation of Infosys plummeted by Rs 32,300.2 crore to Rs 7,98,086.90 crore and that of Life Insurance Corporation of India (LIC) fell by Rs 20,050.25 crore to Rs 5,69,819.04 crore. Hindustan Unilever&rsquo;s mcap declined by Rs 12,805.27 crore to Rs 5,48,617.81 crore and that of ITC went lower by Rs 6,943.5 crore to Rs 5,81,252.32 crore.
In the ranking of the top-10 firms, Reliance Industries retained the most valued firm title followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, State Bank of India, ITC, LIC and Hindustan Unilever.
(Except for the headline, this story has not been edited by Editorji News Desk and is published from a syndicated feed.)

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Win-Win Strategies Post-Digitalization with Ray Wang &amp; Vala Afshar&nbsp;on Day 3 at Nasscom&nbsp;Tech and Leadership Forum 2022

Win-Win Strategies Post-Digitalization with Ray Wang & Vala Afshar

Win-Win Strategies Post-Digitalization with Ray Wang & Vala Afshar on Day 3 at Nasscom Tech and Leadership Forum 2022

Nasscom Tech & Leadership Forum 2022 Day 3

Win-Win Strategies Post-Digitalization with Ray Wang &amp; Vala Afshar&nbsp;on Day 3 at Nasscom&nbsp;Tech and Leadership Forum 2022

The Supreme Court has ruled that banks can charge over 30% interest on credit card dues, overturning a 2008 NCDRC decision that deemed such rates as unfair trade practices. 

Banks can charge over 30% interest on credit card dues: Supreme Court

"The credit card holders are duly educated and made aware of their privileges and obligations, including timely payment and levying of penalty on delay," the bench said.

Banks can charge over 30 per cent on credit card dues from customers after the Supreme Court set aside a sixteen-year-old National Consumer Disputes Redressal Commission verdict, which held charging excessive interest rates amounted to an unfair trade practice.
A bench of Justices Bela M Trivedi and Satish Chandra Sharma said NCDRC's observations that the rate of interest in excess of 30 per cent per annum was an unfair trade practice was "illegal" and an interference with the clear, unambiguous delegation of Reserve Bank of India's powers.
The court said the ruling was contrary to the legislative intent of the Banking Regulation Act, 1949.
In the opinion of the apex court, banks had in no manner made any misrepresentation to deceive the credit card holders and the pre-conditions of "deceptive practice" and unfair method were manifestly absent.
The court said NCDRC had no jurisdiction to rewrite the terms of the contract entered between the banks and the credit card holders, which the parties had mutually agreed upon.
"We agree with the submissions made by the Reserve Bank of India, that the question of directing the RBI to act against any bank does not arise, in the facts and circumstances of the present case and that there is no question of the RBI being directed to impose any cap on the rate of interest, either on the banking sector as a whole, or in respect of any one particular bank, contrary to the provisions contained in the Banking Regulation Act, and the circulars/directions issued thereunder," the bench said in its December 20 judgement.
The top court said while the national consumer commission was duly empowered to set aside unfair contracts that were unilaterally dominant or incorporated unfair and unconscionable terms, the rate of interest charged by the banks, determined by the financial wisdom and RBI directives that were duly communicated to the credit card holders from time to time, couldn't be unconscionable or unilateral.
"The credit card holders are duly educated and made aware of their privileges and obligations, including timely payment and levying of penalty on delay," the bench said.
The apex court said at the time of availing the credit card facility, customers were made aware of the most important terms and conditions, including the rate of interest and they agreed to be bound by the express stipulation by the terms issued by the respective banks.
The verdict said once the terms of the credit card operations were known to the complainants and disclosed by the banking institutions before the issuance of the credit cards, the national commission could not have scrutinised the terms or conditions, including the rate of interest.
"Even on merits, the Reserve Bank of India, has made it clear that there exists no material on record, to establish that any bank has acted contrary to the policy directives issued by the RBI," it said.
It came on record that the aggrieved party in the case did not approach the statutory authority, the Reserve Bank of India, for any objection against the rate of interest, or the high benchmark prime lending rate.
The matter pertained to the appeals filed by Citibank, American Express, HSBC and Standard Chartered Bank against the NDCRC's July 7, 2008 order, which held interest rates ranging between 36 per cent and 49 per cent per annum were exorbitant and amounted to the exploitation of borrowers.

The Indian rupee falls to a fresh all-time low of 85.27 against the US dollar, driven by a strong greenback, rising crude oil prices, and increased dollar demand.

Rupee Hits New Low Amid Dollar Strength and Rising Crude Prices

The rupee fell 4 paise to settle at 85.15 against the US dollar on Tuesday, a day after losing 9 paise on Monday.

The rupee stayed weak for the third straight session and fell 12 paise to settle at a fresh all-time low of 85.27 (provisional) against the US dollar on Thursday, amid a strong greenback and rising crude oil prices.
Forex traders said, increased month-end as well as year-end dollar demand from importers and fear of an aggressive import tariff by the Donald Trump administration lifted the American currency.
At the interbank foreign exchange, the rupee opened weak at 85.23 and touched the lowest-ever level of 85.28 against the greenback during intraday trade.
The unit finally ended the session at its lifetime low closing level of 85.27 (provisional) against the dollar, registering a loss of 12 paise from its previous close.
The rupee fell 4 paise to settle at 85.15 against the US dollar on Tuesday, a day after losing 9 paise on Monday.
The forex market was closed on Wednesday for Christmas.
According to Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, the rupee fell to a fresh all-time low on strong dollar and rising US treasury yields that are at the highest levels in seven months.
Also, he said the surge in crude oil prices, month-end/year-end dollar demand and FII outflows may also weigh on the rupee.
"However, any intervention by the RBI may support the rupee at lower levels. Traders may take cues from weekly unemployment claims data from the US. USD-INR spot price is expected to trade in a range of 85.10 to 85.45," Choudhary added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally lower by 0.09 per cent but remained elevated at 107.93, amid soaring US Treasury yields (4.61 per cent) and the fear of delayed interest rate cuts by the US Federal Reserve.
Brent crude, the global oil benchmark, rose 0.56 per cent to USD 73.99 per barrel in futures trade.
In the domestic equity market, the 30-share BSE Sensex closed almost flat at 78,472.48 points, while Nifty inched up 22.55 points, or 0.10 per cent to close at 23,750.20 points.
Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 2,454.21 crore, according to exchange data.

The Aditya Birla Group firm has completed the acquisition of 10.13 crore equity shares of India Cements Ltd (ICL), representing 32.72 per cent of the equity share capital of the company.

India Cements promoter N Srinivasan steps down as UltraTech completes acquisition

The Aditya Birla Group firm has completed the acquisition of 10.13 crore equity shares of India Cements Ltd (ICL), representing 32.72 per cent of the equity share capital of the company.

Leading cement maker UltraTech has completed the acquisition of promoters a 32.72 per cent stake in India Cements Ltd, following which N Srinivasan and other promoters of the South-based cement maker have stepped down.
The Aditya Birla Group firm has completed the acquisition of 10.13 crore equity shares of India Cements Ltd (ICL), representing 32.72 per cent of the equity share capital of the company.
"This, together with the existing shareholding of 7.05 crore equity shares (22.77 per cent) of the equity share capital of ICL, has resulted in the Company&rsquo;s shareholding increasing to 17.19 crore equity shares representing 55.49 per cent of ICL's equity share capital," UltraTech had informed in a late-night regulatory filing on Tuesday.
Consequently, ICL "has become a subsidiary of the Company" with effect from December 24, 2024, it added.
On Wednesday, ICL informed that pursuant to the completion of the transaction and due to the consequent cessation of control by the existing promoters over the company, N Srinivasan has stepped down as Vice Chairman and Managing Director.
Besides, his daughter Rupa Gurunath, &nbsp;wife Chitra Srinivasan and V M Mohan have also stepped down from the board of the company, according to a regulatory filing by ICL.
Moreover, "pursuant to the consummation of the Transaction on December 24 2024, UltraTech has acquired sole control of the company and has become the promoter of the company in accordance with the LODR Regulations", informed ICL.
Further, the board also recorded the resignation of certain independent directors - &nbsp;S Balasubramanian Adityan, Krishna Srivastava, Lakshmi Aparna Sreekumar and Sandhya Rajan with effect from the end of business hours on December 25, 2024, it added.
The board has also appointed four new directors - K C Jhanwar, Vivek Agrawal, E R Raj Narayanan and Ashok Ramachandran. Besides, three independent directors - Alka Bharucha, Vikas Balia and Sukanya Kripalu - have come on board of ICL.
Last week, the Competition Commission of India (CCI) cleared over Rs 7,000-crore deal, wherein billionaire Kumar Mangalam Birla promoted UltraTech Cement had proposed to acquire a majority stake in India Cements Ltd.
The fair trade regulator also granted its clearance to UltraTech Cement to acquire up to 26 per cent of the paid-up equity share capital of India Cements by way of an open offer, it added.
On July 28, UltraTech Cement announced the acquisition of a 32.72 per cent stake in India Cements Ltd (ICL) from promoters and their associates in a Rs 3,954-crore deal, which will expand its footprint in the highly competitive and fast-growing southern cement market.
Besides, Ultratech has also announced a Rs 3,142.35 crore open offer to acquire 26 per cent share of ICL from its shareholders.
Earlier, in June UltraTech acquired 23 per cent shares of ICL.&nbsp;
It had acquired Damani-group&rsquo;s stake in India Cements Ltd (ICL) through two block deals in a deal which is estimated to be around Rs 1,900 crore.&nbsp;
The Indian cement industry is witnessing consolidation and heightened rivalry between two corporate houses -- Kumar Mangalam Birla-led Aditya Birla Group and Gautam Adani-led Adani Group -- snapping smaller players.
The Adani group has plans in the works to raise its production capacity to 140 MTPA by FY28, just a shade below market leader UltraTech's current capacity of 156.66 MTPA of grey cement.
Adani Cement recently announced the acquisition of CK Birla group firm Orient Cement, through which it will achieve a capacity of 100 MT (million Tones) per annum by the end of FY25 and a gain of 2 per cent in the overall market share in the country.
It has completed the acquisition of Saurashtra-based Sanghi Industries, and Penna Industries and recently announced the acquisition of CK Birla group firm Orient Cement as part of its inorganic growth strategy.
Aditya Birla Group also plans to maintain its lead with 200 MTPA capacity by FY27. UltraTech is also in the process of acquiring Kesoram Industries' cement business and is awaiting regulatory clearance.
(Except for the headline, this story has not been edited by Editorji News Desk and is published from a syndicated feed.)

According to TRAI, around 150 million subscribers in India still rely on feature phones, primarily using their devices for calls and text messaging.

TRAI Mandates Voice and SMS-Only Recharge Plans: A Game-Changer for Indian Telecom Users

According to TRAI, around 150 million subscribers in India still rely on feature phones, primarily using their devices for calls and text messaging.

The Telecom Regulatory Authority of India (TRAI) has introduced significant amendments to the telecom tariff regulations, requiring mobile service providers to offer recharge plans exclusively for voice calls and SMS.
This landmark decision, announced on Monday (December 23), addresses the needs of a large segment of the Indian population that does not use mobile data. The new regulations extend the validity of special recharge coupons from the current 90-day cap to a maximum of 365 days.
The Need for Voice and SMS-Only Plans
TRAI&rsquo;s decision stems from extensive consultations highlighting the demand for non-data-specific plans.
According to TRAI, around 150 million subscribers in India still rely on feature phones, primarily using their devices for calls and text messaging. This demographic includes senior citizens, rural residents, and dual-SIM users who often dedicate one SIM strictly to voice and SMS services.
By mandating that telecom providers offer at least one Special Tariff Voucher (STV) exclusively for voice and SMS with a validity of up to 365 days, TRAI seeks to empower these consumers with the flexibility to pay only for services they use.
In its explanatory note, TRAI stated, &ldquo;Mandating Voice and SMS-only STV will provide an option to subscribers who do not require data, and this in any way will not reverse the government initiative of data inclusion.&rdquo;
Flexibility in Recharge Options
In addition to voice and SMS-only plans, TRAI has introduced flexibility in recharge denominations. Telecom operators can now issue vouchers of any value, provided they retain a minimum top-up option of ₹10.
This move eliminates the previous restriction to denominations in multiples of 10, making it more convenient for consumers to choose plans that suit their budgets.
Telecom Operators' Resistance
Private telecom operators, including Reliance Jio, Bharti Airtel, and Vodafone Idea, have voiced concerns about the new regulations. These companies have been pushing for the migration of users from 2G to 4G or 5G networks to boost their Average Revenue Per User (ARPU).
Reliance Jio, for instance, has labelled 2G technology as a barrier to India&rsquo;s digital growth and has actively advocated for its phase-out. Similarly, Bharti Airtel and Vodafone Idea have invested heavily in expanding their 4G infrastructure to drive revenue through bundled data and voice plans.
Industry representatives argue that separating voice and SMS plans could hinder data inclusion efforts, reverse the momentum of smartphone adoption, and potentially reduce ARPU. During consultations, the Cellular Operators Association of India (COAI) pointed out that over 91% of customers find existing bundled plans affordable and effective.
Consumer Advocacy and Benefits
Despite resistance from telecom operators, consumer groups have lauded TRAI&rsquo;s decision. For elderly individuals, rural populations, and families with broadband connections, choosing voice and SMS-only plans eliminates unnecessary expenditure on data services.
Additionally, secondary SIM users, who primarily use their numbers for OTPs and verifications, will benefit from cost-effective recharge options.
International practices also support TRAI&rsquo;s move. Countries like Bangladesh, Pakistan, and the United States offer voice-only and SMS-only plans tailored to specific user needs. For instance, Banglalink and Grameenphone in Bangladesh, and Telenor in Pakistan, provide such flexible options to cater to diverse consumer segments.
Balancing Consumer Needs and Market Growth
TRAI&rsquo;s initiative reflects a balanced approach to consumer empowerment and market growth. While telecom companies retain the liberty to offer bundled and data-only vouchers, the mandate ensures inclusivity for consumers who do not rely on data.
This decision aligns with TRAI&rsquo;s overarching goal of enhancing user choice and satisfaction in India&rsquo;s telecom sector.
Conclusion
The introduction of voice and SMS-only recharge plans marks a pivotal moment for India&rsquo;s telecom industry. By addressing the needs of 150 million feature phone users and other underserved demographics, TRAI has reinforced its commitment to consumer rights and affordability.
While telecom operators face challenges in adapting to this regulatory shift, the long-term benefits for millions of Indian users are undeniable. As the telecom landscape evolves, this move is poised to bridge the gap between technology adoption and consumer accessibility, fostering a more inclusive digital ecosystem.

India's foreign direct investment inflows surged by 42% in 2024, driven by investor-friendly policies, skilled labor, and enhanced infrastructure. With sustained government measures, India is expected to remain a top investment destination in 2025.

Healthy FDI inflows into India to continue in 2025

FDI equity inflow in the manufacturing sector increased by 69 per cent, rising from USD 98 billion in 2004-2014 to USD 165 billion in 2014-2024.

India, averaging over USD 4.5 billion in monthly foreign direct investment (FDI) inflows since January this year despite global uncertainties and challenges, is tipped to sustain the trend in 2025 on the back of measures by the Prime Minister Narendra Modi-government to enhance the country's investor-friendly appeal.
Investor-friendly policies, strong return on investments, skilled manpower, reduced compliance burdens, decriminalising minor industry-related offences, national single window system for streamlined approvals and clearances, and production linked incentive (PLI) schemes are key measures for keeping foreign investors focused on India.
Further to ensure that India remains an attractive and investor-friendly destination, the government reviews FDI policy on an ongoing basis and makes changes from time to time after having intensive consultations with stakeholders including apex industry chambers, associations, and representatives of industries.
In the January-September period this year, FDI into the country rose by about 42 per cent to USD 42.13 billion. The inflow was at USD 29.73 billion in the year-ago period.
The inflows during April-Sept 2024-25 grew by 45 per cent to USD 29.79 billion against USD 20.48 billion in the same period previous fiscal. Total FDI in 2023-24 was a healthy USD 71.28 billion.
"Going by the trend, the country will continue to attract healthy FDI in 2025 as well," DPIIT (Department for Promotion of Industry and Internal Trade) Secretary Amardeep Singh Bhatia told PTI.
He said that India continues to open up its economy to global investors by raising foreign investment limits, removing regulatory barriers, developing infrastructure and improving the business environment.
A total FDI inflow of USD 991 billion was recorded, with 67 per cent (USD 667 billion) received during the last ten financial years (2014-2024).
FDI equity inflow in the manufacturing sector increased by 69 per cent, rising from USD 98 billion in 2004-2014 to USD 165 billion in 2014-2024.
Sharing similar views, experts opined that despite the global challenges, India is still the preferred investment destination for global firms.
However, they suggested the government take more steps such as further improving ease of doing business, liberalising sectoral caps like in pharmaceuticals, private security agencies, broadcasting and plantations, and easing the norms under the press note 3 (2020).
Under this press note, FDI applications from countries sharing land border with India like China have to mandatorily seek government approval for all sectors.
"Government should bring in a transparent system to process Press Note 3 applications. There should be a time-bound process with deeming provision as it would increase the FDI by boosting confidence of foreign investors. An exception should also be carved for private equity investment funds having partners from land bordering countries where the private equity fund is not controlling the Indian company and acting as a mere financial investor," Rudra Kumar Pandey, Partner, Shardul Amarchand Mangaldas &amp;Co, said.
Pandey also asked for establishing fast-track courts, arbitration centres to facilitate dispute resolution between corporates, training the judicial ecosystem to help corporates resolve their disputes.
These suggestions assume significance as India has seen limited success so far in capturing the 'China Plus One strategy', while Vietnam, Thailand, Cambodia, and Malaysia have become bigger beneficiaries.
According to a report of government think tank Niti Aayog, India is seen as an attractive destination for companies looking to shift their manufacturing bases out of China and this shift offers the country a chance to enhance its domestic manufacturing capabilities, particularly in high-tech industries.
Rumki Majumdar, Economist, Deloitte India, added that streamlining regulatory processes and minimizing bureaucratic hurdles will further boost investor confidence and simplify the investment landscape.
"A continued emphasis on infrastructure development, particularly in logistics and digital connectivity, is also crucial for supporting FDI growth," Majumdar said.
Foreign direct investment inflows into India have crossed the USD one trillion milestone in the April 2000-September 2024 period, firmly establishing the country's reputation as a safe and key investment destination globally.
According to the DPIIT data, the cumulative amount of FDI, including equity, reinvested earnings and other capital, stood at USD 1,033.40 billion during the said period.
About 25 per cent of the FDI came through the Mauritius route. It was followed by Singapore (24 per cent), the US (10 per cent), the Netherlands (7 per cent), Japan (6 per cent), the UK (5 per cent), UAE (3 per cent) and Cayman Islands. Germany and Cyprus accounted for 2 per cent of FDI each.
India received USD 177.18 billion from Mauritius, USD 167.47 billion from Singapore and USD 67.8 billion from the US during the period under review, as per the data.
The key sectors attracting the maximum of these inflows include the services segment, computer software and hardware, telecommunications, trading, construction development, automobile, chemicals, and pharmaceuticals.
FDI is allowed through the automatic route in most of the sectors while in areas such as telecom, media, pharmaceuticals and insurance, government approval is required for foreign investors.
FDI is important as India would require huge investments in the coming years for its infrastructure sector to boost growth. Healthy foreign inflows also help in maintaining the balance of payments and the value of the rupee.
DPIIT is responsible for the formulation of FDI Policy, enforced through rules notified under the Foreign Exchange Management Act, 1999 (FEMA), which is administered by the Department of Economic Affairs and regulated by the RBI.
The Foreign Investment Facilitation Portal (FIFP) manages proposals received under the government route and forwards them to concerned ministries.

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