Monday, August 17
A Delhi court on Friday ordered the framing of charges against RJD chief and former railway minister Lalu Prasad Yadav, his family members and others in the alleged land-for-jobs ‘scam’, observing that public employment was allegedly misused as leverage to acquire land parcels for the Yadav family, PTI reported.Special Judge Vishal Gogne said the prosecution had made out a prima facie case that Yadav treated the railway ministry as a “personal fiefdom” and ran a criminal enterprise in which railway jobs were allegedly exchanged for land, in collusion with railway officials and close aides. The court ordered charges to be framed against 41 accused, while discharging 52 others, including several railway officials.The court also took note of a verification report filed earlier by the
Caracas: Venezuela's Interim President Delcy Rodriguez said in a message to the US that Venezuelans "did not deserve this vile, warmongering aggression," El Cooperante reported.Rodriguez also announced the upcoming construction of a monument in honor of all citizens who died in the US military incursion into Venezuela on January 3. "No one surrendered here; there was a fight for this homeland, for our liberators, for Chavez, and for Venezuela. That is our greatest satisfaction, and that is our answer. We will face them, one-on-one, and we will show them what the children of Bolivar are made of," she said as quoted by the Spanish El Cooperante news outlet.He emphasized that weapons in Venezuela are used to "defend" the population, country, sovereignty and dignity, and not for acts of "aggre
Shares of Bharat Heavy Electricals rebounded sharply on Friday, rising as much as 4.8% to Rs 285.50 on the BSE, a day after the stock plunged 10% and hit the lower circuit.The recovery came as investors reassessed reports that India may ease restrictions on Chinese firms bidding for government contracts. The earlier news had sparked fears of intensifying competition and pressure on pricing and margins for state-run power equipment makers such as BHEL.Despite Friday’s recovery, the stock remains under pressure. BHEL is down about 5% over the past week and has fallen 2.6% so far in 2026.Why the China factor spooked the marketThe selloff was triggered by media reports suggesting that India plans to scrap curbs on Chinese firms bidding for government contracts. These restrictions were introd
The prospect of India easing restrictions on Chinese firms bidding for government contracts has diverging opinions on Bharat Heavy Electricals Ltd, with some analysts flagging heightened competitive risk while others argue that any policy shift is more likely to ease cost pressures and improve execution for the state-owned power equipment maker.JM Financial said a rollback of curbs, particularly at the component level, would benefit BHEL by lowering input costs and shortening project timelines, while even a broader relaxation would have “little impact” on its business given domestic sourcing rules and past experience with Chinese suppliers. Jefferies, by contrast, cautioned that BHEL could be among the industrial names facing the highest exposure if restrictions are lifted, depending o
Prime Minister Narendra Modi and US President Donald Trump have spoken eight times in 2025, New Delhi said on Friday, pushing back against remarks by US Commerce Secretary Howard Lutnick on stalled India–US trade talks.India rejected Lutnick’s claim that the proposed trade deal had stalled because Modi did not reach out to Trump, saying the portrayal of the negotiations was inaccurate.“The characterisation of these discussions in the reported remarks is not accurate. We remain interested in a mutually beneficial trade deal between two complementary economies and look forward to concluding it. Incidentally, Prime Minister and President Trump have also spoken on phone on 8 occasions during 2025, covering different aspects of our wide-ranging partnership,” MEA spokesperson Randhir Jai
Capital markets regulator Sebi announced an overhaul of its framework for handling technical glitches in stock brokers' electronic trading systems, a move aimed at improving ease of compliance and reducing regulatory burden, particularly for smaller brokers.In a press release, the market regulator said it had reviewed the existing technical glitch framework following public consultation and feedback from market participants. The revised norms are part of Sebi's broader push to create a more conducive regulatory environment and support ease of doing business for intermediaries in the securities market.One of the key changes is the streamlining of eligibility criteria for the applicability of the technical glitch framework. Under the revised rules, the framework will now apply only to stock
LONDON/MUMBAI/HONG KONG: Reliance Jio Platforms is considering an initial public offering this year that would float 2.5% of the company, a move that could make it the country's largest-ever IPO worth more than $4 billion.The company, led by Mukesh Ambani, is the parent of India's largest telecom operator Reliance Jio - with more than 500 million users. Its debut is the country's most highly anticipated IPO this year.In November, investment bank Jefferies estimated that Reliance Jio's valuation stood at $180 billion. At that valuation, a 2.5% stake sale would raise $4.5 billion, dwarfing Hyundai Motor India's $3.3 billion IPO last year.Over the past six years, Jio has diversified into artificial intelligence and raised funds from well-known investors including KKR, General Atla
