Tuesday, June 10
Asian stocks surged on Monday, fueled by optimism surrounding US-China trade talks in London and robust US jobs data. Despite a contraction in Japan's economy and slowing export growth in China, markets in Tokyo, Seoul, and Hong Kong experienced gains. Wall Street also saw a rally, with the S&P 500 approaching its all-time high.
In a significant move towards inclusive railway services, Digital India Bhashini Division and the Centre for Railway Information Systems have partnered to integrate multilingual AI into railway platforms. This collaboration aims to provide access to critical railway information in 22 Indian languages, utilizing tools like speech recognition and text translation.
Ayodhya witnesses a significant surge in property prices, with circle rates rising up to 200% after eight years. The hike, especially pronounced near the Ram Janmabhoomi Temple, is driven by religious tourism and infrastructure development. While increasing stamp duty, the revision is expected to benefit landowners and promote transparency in property deals.
Stock market today: The Nifty and BSE Sensex indices extended their winning streak for the fourth consecutive session on Monday, buoyed by positive global market cues and investor confidence following the RBI's substantial 50 basis points rate reduction.
India's two-wheeler industry is poised for significant growth, exceeding pre-Covid levels, according to CareEdge Ratings. A projected 8-9% volume increase in FY26 is fueled by RBI's rate cuts, boosting loan affordability, alongside strong domestic demand and export recovery. Scooters are experiencing a surge in popularity, particularly among urban commuters, while motorcycles remain a reliable and efficient choice for many.
Gautam Adani's FY25 salary reached Rs 10.41 crore, a 12% increase from the previous year, yet still less than some of his top executives. Mukesh Ambani, in contrast, has forgone a salary since the pandemic. Adani's compensation is notably lower than other industry leaders like Sunil Bharti Mittal and L&T Chairman S N Subrahmanyan.
Following a tragic incident where passengers fell from an overcrowded local train, Indian Railways has mandated automatic door-closing mechanisms for all new rakes manufactured for Mumbai's suburban network. Existing rakes will also be redesigned to include this safety feature. This decision aims to prevent accidents caused by open doors and improve passenger safety on Mumbai's busy local trains.
Mohandas Pai warns that Indian startups are struggling due to limited domestic investment, restrictive regulations, and a challenging business culture. He advocates for urgent policy reforms, increased R&D funding, and enabling insurance and pension fund investments to boost the ecosystem. Pai also urges a shift in mindset to support startups and ensure timely payments from larger companies.
Foreign Portfolio Investors (FPIs) initially withdrew Rs 8,749 crore from Indian equities in early June amid global uncertainty. However, a significant shift occurred after the RBI's unexpected 50 basis points rate cut, boosting investor confidence.
President Trump signed executive orders to bolster drone security, promote air technologies like electric air taxis and supersonic aircraft, and reduce reliance on Chinese drone manufacturers. A federal task force will enhance airspace protection and counter-drone capabilities. The FAA is instructed to remove the ban on overland supersonic transport, contingent on preventing sonic booms on the ground.
