Monday, August 17
The future of Chabahar Port will figure prominently on the agenda during Iranian foreign minister Abbas Araghchi's proposed visit to India on January 15-16, with the US sanctions waiver for the port set to expire in April, said people familiar with the matter.The strategically located port is being managed by India Ports Global Limited for a period of 10 years from 2024. Besides meeting external affairs minister S Jaishankar, Araghchi plans to meet national security advisor Ajit Doval and ports, shipping and waterways minister Sarbananda Sonowal. Chabahar Port is the gateway not only for Afghanistan but also Central Asian states as their viable access to the Indian Ocean Region for the Indian and Gulf markets. The port also provides connectivity to parts of Russia bordering Central Asia. I
Indian stock markets are bracing for a potentially explosive session on Monday as the US Supreme Court prepares to deliver a landmark ruling tonight on the legality of sweeping tariffs imposed by President Donald Trump under the International Emergency Economic Powers Act (IEEPA). The court verdict could either ignite a sharp rally in the Sensex and Nifty or deepen the volatility that has already battered Dalal Street this week.If the apex court strikes down the tariffs, India could be among the biggest beneficiaries globally, given the outsized impact of Trump's 50% duties on Indian exports and the looming threat of a devastating 500% tariff on countries importing Russian oil, legislation Trump recently approved that would hit India's energy security and trade competitiveness hard.Market
Ace investor Ashish Kacholia-backed Indo SMC’s Rs 91.95 crore SME IPO will open for subscription on January 13 and close on Thursday, January 15. The issue is a pure fresh offering of 62 lakh shares, with the stock scheduled to list on the BSE SME platform on Tuesday, January 20.Ashish Kacholia holds a 3.36% stake in the company. Indo SMC operates across key verticals including sheet moulding compound (SMC) products, fiberglass reinforced plastic (FRP) products, and electrical components such as current and potential transformers.Indo SMC GMPThe latest grey market premium (GMP) for Indo SMC stands at Rs 31, implying a premium of around 21% over the upper price band of Rs 149. Based on this GMP, the IPO is expected to list at around Rs 180 per share.The healthy GMP indicates positive sent
India and France are inching closer towards a mega deal for fighter jets, with additional Rafales likely to be ordered to meet the shortfall in the air force inventory. The proposal to acquire the fighter jets is likely to gain steam in the run-up to French President Emmaneal Macron's scheduled visit to India next month. The Indian Air Force (IAF) has already moved a proposal to acquire a significant number of jets, under a government-to-government deal that will also involve them being manufactured in India. While the final numbers of the jets to be acquired are under discussion, the IAF has a projected requirement of at least 114 modern combat aircraft. Sources said that the acquisition will require a formal clearance by the Defence Acquisition Council, followed by cost negotiations and
