Tuesday, September 15
India's cooperative sector is set to challenge ride-hailing giants Ola and Uber with the launch of a taxi service under the brand Bharat by the end of this year, backed by Rs 300 crore authorised capital and having already onboarded 200 drivers across four states. The Multi-State Sahakari Taxi Cooperative Ltd, registered on June 6, represents a consortium of eight prominent cooperatives, including the National Cooperative Development Corporation (NCDC), Indian Farmers Fertilizer Cooperative Ltd (IFFCO), and Gujarat Cooperative Milk Marketing Federation (GCMMF). Last month, Cooperation Minister Amit Shah had indicated that a cooperative taxi service will be launched by the end of 2025, while unveiling a comprehensive cooperative policy for the sector."The key objective is to ensure better r
Indian equity benchmarks extended their losing streak to a fifth consecutive week—marking the longest run of weekly losses since August 2023—as renewed global trade concerns and tepid corporate earnings weighed on sentiment. The Nifty 50 slipped 0.82% to 24,565.35 and the BSE Sensex ended 0.72% lower at 80,599.91 on Friday.All key sectors, barring a few, ended in the red, with broader indices like the Nifty Smallcap and Midcap witnessing sharp weekly declines of 3.4% and 2.4%, respectively.Sudeep Shah, Vice President and Head of Technical & Derivatives Research at SBI Securities, spoke to ETMarkets about the outlook for Nifty, Bank Nifty, sectoral trends, and how traders can navigate the current volatility. Following are the edited excerpts:What do the markets look like right now,
