Category: BUSINESS

Mumbai: Equity benchmark indices Sensex and Nifty started the trade on a weaker note on Thursday but later quoted flat in a highly volatile trade amid mixed global cues.

The 30-share BSE Sensex declined 138.36 points, or 0.16 per cent, to 84,328.15 in the morning trade. The broader NSE Nifty slipped 38.50 points or 0.15 per cent, to 25,837.30.

But, later both the benchmark indices were oscillating between highs and lows.

Among the Sensex firms, Tata Motors’ commercial vehicles business, Eternal, Infosys, Tech Mahindra, Mahindra & Mahindra, HCL Technologies, Kotak Mahindra Bank, HDFC Bank, ITC, Tata Consultancy Services, Bharat Electronics Ltd were the laggards.

On the other hand, Asian Paints, Tata Steel, ICICI Bank, Bajaj Finserv, Bharti Airtel, Trent, Larsen & Toubro and State Bank of India were the gainers.

“The market needs more triggers to take it to new record highs. With the outcome of the Bihar polls largely discounted by the market, there are no political triggers that can push the market significantly higher. The reverse might happen if the actual poll results turn out to be different from the exit polls,” VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said.

Vijayakumar noted that the important economic factors that have to be watched for is a possible India-US trade deal removing the penal tariffs and reducing the reciprocal tariffs. The decline in October retail inflation in India to 0.25 per cent indicates the possibility of a rate cut from the MPC in December. But the monetary policy transmission turning weak has become a challenge for the RBI.

“In the near-term the market is likely to consolidate and then respond to triggers when they happen. Positive triggers happening simultaneously can lead to short-covering pushing the market sharply up. But sustained uptrend would be challenging given the FII selling and elevated valuations, he added.

Broader Asian equities were trading on a mixed note. Shanghai’s SSE Composite Index and Japan’s Nikkei 225 benchmark were trading in a positive zone while Hong Kong’s Hang Seng and South Korea’s Kospi were quoting in red territory.

The US markets finished higher in overnight deals on Wednesday.

Brent crude, the global oil benchmark, fell 0.13 per cent to USD 62.63 per barrel.

Meanwhile, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,750.03 crore for the third straight session on Wednesday, while domestic institutional investors (DIIs) remained net buyers of stocks worth Rs 5,127.12 crore, according to exchange data.

On Wednesday, the BSE Sensex rallied 595.19 points to settle at 84,466.51. The 50-share NSE Nifty climbed 180.85 points to close at 25,875.80.

New Delhi: India accounted for the highest number of TB cases in 2024, followed by Indonesia, the Philippines, China, and Pakistan, said the WHO Global Tuberculosis Report 2025, as it called for increased funding to eradicate the disease.

Geographically, most people who developed TB in 2024 were in the WHO regions of South-East Asia (34 per cent), the Western Pacific (27 per cent) and Africa (25 per cent), with smaller proportions in the Eastern Mediterranean (8.6 per cent), the Americas (3.3 per cent) and Europe (1.9 per cent), the report said.

The 30 high-TB burden countries accounted for 87 per cent of all estimated incident cases worldwide, with eight of these countries accounting for two-thirds (67 per cent) of the global total.

India registered the highest, 25 per cent, of these cases, followed by Indonesia (10 per cent), the Philippines (6.8 per cent), China (6.5 per cent), Pakistan (6.3 per cent), Nigeria (4.8 per cent, the Democratic Republic of the Congo (3.9 per cent), and Bangladesh (3.6 per cent).

The top five countries accounted for 55 per cent of the global total.

The WHO observed that TB remains a major global public health problem and progress in reducing the burden of disease falls far short of 2030 targets in most parts of the world.

It, however, said that after setbacks from the COVID-19 pandemic, most indicators were moving in the right direction.

Money allocation for the TB response remains grossly inadequate and has been stagnating, the report said.

Funding for the provision of TB prevention, diagnosis, and treatment amounted to USD 5.9 billion in 2024, and funding for TB research was USD 1.2 billion in 2023. These figures are 27 per cent and 24 per cent of the global targets of USD 22 billion and USD 5 billion annually by 2027.

“Cuts to international donor funding from 2025 onwards threaten overall funding for the TB response in many countries,” the report read.

It said that achieving the goal of ending TB will need political commitment and domestic funding in high-TB burden countries, more importantly than ever.

However, in low- and middle-income countries (LMICs), which account for 99 per cent of fresh TB cases each year, funding has stagnated for five years and in 2024 it remained far short.

According to the report, India also accounted for the highest number of people estimated to have developed Multidrug-resistant TB (MDR-TB) MD and Rifampicin-resistant TB at 32 per cent.

Four countries, including India, accounted for more than half of the global number of such patients. Of the remaining, China accounted for 7.1 per cent, the Philippines, 7.1 per cent and the Russian Federation, 6.7 per cent.

In 2024, 69 per cent of the global number of deaths caused by TB among HIV-negative people occurred in the WHO African and South-East Asia regions.

India alone accounted for 28 per cent of deaths globally.

The two regions accounted for 71 per cent of the combined number of deaths caused by TB among people with and without HIV. India accounted for 25 per cent of such deaths.

Among the 30 high-TB burden countries in 2024, the number of people newly diagnosed with TB and officially reported as a TB case as a percentage of the estimated number of people who developed TB (incident cases) was highest (more than 80 per cent) in Bangladesh, Brazil, Ethiopia, India, Kenya, Mozambique, Uganda, and Zambia.

In 2024, the global gap between estimated TB incidence and the reported number of people newly diagnosed with TB was mostly accounted for by 10 countries.

These 10 countries collectively accounted for 63 per cent of the global gap, the WHO report said.

The top five countries (collectively accounting for 40 per cent of the global gap) were Indonesia (10 per cent), India (8.8 per cent), the Philippines (7.5 per cent), Pakistan (7.2 per cent) and China (6.9 per cent).

Globally, the absolute number of people falling ill with TB decreased in 2024 for the first time since 2020. The improvement came after three consecutive years of increases due to COVID-related disruptions.

The total of 10.7 million was a small (1 per cent) reduction from 10.8 million in 2023, but still above the level of 2020 (10.3 million).

There was a larger (1.7 per cent) global decline in the TB incidence rate between 2023 and 2024 — at 131 per 100,000 population in 2024, this was back to the level of 2020.

“The net reduction from 2015 to 2024 was 12 per cent, far from the End TB Strategy milestone of a 50 per cent reduction by 2025 and the target of an 80 per cent reduction by 2030,” the report stated.

Globally, the number of deaths caused by TB also fell in 2024.

The total of 1.23 million was 3 per cent less compared with 1.27 million in 2023.

The net reduction from 2015 to 2024 is more impressive, at 29 per cent, but still far from the End TB Strategy milestone of a 75 per cent reduction by 2025, and the target of a 90 per cent reduction by 2030, the report stated.

During the same period, 101 countries achieved at least a 20 per cent reduction in TB incident rates, and 65 countries achieved reductions of 35 per cent or more in TB-related deaths.

These countries have attained the first milestones of the WHO End TB Strategy.

Mumbai: Equity benchmark indices Sensex and Nifty climbed in early trade on Wednesday driven by buying in blue-chips Reliance Industries, Infosys and Bharti Airtel amid firm global cues.

Besides, traders said that optimism over an impending India-US trade deal also supported the investors’ sentiment.

The 30-share BSE Sensex benchmark increased by 464.66 points, or 0.55 per cent, to 84,335.98 in early trade. The 50-share NSE Nifty appreciated by 134.70 points, or 0.52 per cent, to 25,829.65.

Among the Sensex firms, Tata Consultancy Services, Eternal, Bajaj Finserv, Tech Mahindra, Infosys, Bharti Airtel, Bajaj Finance, HCL Technologies, Reliance Industries, Axis Bank, Mahindra & Mahindra, and UltraTech Cement were the gainers.

Bharat Electronics Ltd, Hindustan Unilever, Maruti Suzuki India, Asian Paints, ITC, Sun Pharmaceuticals, and Trent Ltd were among the laggards.

“Sentiments have turned for the better with news of an India-US trade deal getting finalised soon and the exit polls indicating a decisive victory for the NDA in Bihar. This will strengthen the bulls but is not good enough for the markets to stage a decisive breakout and sustained rally,” VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said.

He noted that going by the present trends, FIIs are likely to sell again at higher levels. So long as the AI trade continues a sustained reversal of FII money appears unlikely.

“From the fundamental perspective, there is room for optimism since GDP growth is robust and earnings growth for FY27 appears bright. Financials, consumption and defence stocks have the potential to lead the next leg of the rally, Vijayakumar added.

Broader Asian equities were trading on a mixed note. South Korea’s Kospi and Hong Kong’s Hang Seng were trading higher while Japan’s Nikkei 225 and Shanghai’s SSE Composite index were quoting in the negative territory.

The US markets closed largely higher in overnight deals on Tuesday.

Brent crude, the global oil benchmark, declined by 0.23 per cent to USD 65.01 per barrel.

Foreign Institutional Investors (FII) offloaded equities worth Rs 803.22 crore on Tuesday while Domestic Institutional Investors bought stocks worth Rs 2,188.47 crore, according to the exchange data.

“Bulls took charge on Tuesday as Nifty staged a strong comeback, buoyed by exit polls in Bihar predicting a BJP–JD(U) landslide and optimism over a US-India trade deal, possible Fed rate cuts, and hopes of an end to the US shutdown. While sentiment is upbeat, concerns linger over the Delhi bomb blast and FII selling worth Rs 803 crore,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

On Tuesday, the 30-share BSE Sensex jumped 335.97 points to settle at 83,871.32, while the NSE Nifty climbed 120.60 points to close at 25,694.95.

New Delhi: Shares of Vodafone Idea climbed more than 6 per cent on Tuesday after the debt-ridden telecom operator said its consolidated net loss narrowed to Rs 5,524 crore in the second quarter ended September compared to the year-ago period.

The company’s shares appreciated by 6.4 per cent to hit a high of Rs 10.11 apiece on the NSE.

On the BSE, the stock of Gandhinagar-based Vodafone Idea advanced 6.31 per cent to Rs 10.11 per piece.

The markets are trading in the negative territory. The 30-share BSE Sensex dropped 309.14 points, or 0.37 per cent, to 83,226.21. The NSE Nifty fell 96.35 points, or 0.38 per cent to 25,478 in the morning trade.

On Monday, Vodafone Idea said its consolidated net loss narrowed to Rs 5,524 crore in the second quarter ended September compared to the year-ago period, mainly on account of savings in finance cost on debt from banks and an increase in average revenue per user supported by a tariff hike.

Vodafone Idea Ltd (VIL), in its financial performance note, mentioned that its ability to settle debt liability is dependent on government support, fundraise and cash flow generation from operations.

VIL had posted a net loss of Rs 7,176 crore in the year-ago period, according to the company’s regulatory filing.

The government holds a 49 per cent stake in VIL.

While an increase in average revenue per user (ARPU) due to a tariff hike helped VIL improve its financial performance, the company continues to record a dip in its subscriber base, both on a quarterly and year-over-year (YoY) basis.

A 27 per cent decline in finance cost helped VIL narrow its loss. Its finance cost stood at Rs 4,784.4 crore in the September 2025 quarter against Rs 6,613.6 crore a year ago, mainly on account of a reduction in debt from banks.

The company’s debt from banks reduced to Rs 1,542 crore in the September quarter from Rs 3,250 crore.

VIL incurred a loss of Rs 12,132 crore in the first half of the current fiscal and its net worth stands at negative Rs 82,460 crore as on September 30. The total debt of the company stood at Rs 2.02 lakh crore at the end of the second quarter of FY26.

VIL consolidated revenue from operations increased 2.4 per cent to Rs 11,195 crore during the reported quarter from Rs 10,932 crore a year ago.

The customer ARPU (average revenue per user) rose 8.7 per cent year-on-year to Rs 180 in the reported quarter from Rs 166 in the September 2024 quarter, mainly due to customer upgrades and tariff increases, the company said.

New Delhi: Union Cooperation Minister Amit Shah on Monday launched two mobile applications – Sahakar Digi Pay and Sahakar Digi Loan – for urban cooperative banks, describing digital payment adoption as essential for their survival in an increasingly cashless economy.

Addressing a two-day international conference on the urban cooperative credit sector, Shah highlighted the government’s efforts to professionalise urban cooperative banks (UCBs) and cooperative credit societies, crediting the Reserve Bank of India for enabling their modernisation.

He pointed to significant improvements in the sector’s health, with non-performing assets declining from 2.8 per cent to 0.6 per cent over the past two years.

“There has been good improvement in NPAs. There has been reform in their operations and financial discipline,” Shah said, urging the National Federation of Urban Cooperative Banks and Credit Societies Limited (NAFCUB) to pursue further expansion.

The minister set an ambitious target for NAFCUB — to establish at least one additional UCB in every town with a population exceeding two lakh within five years.

He also directed the federation to convert successful cooperative credit societies into UCBs.

“Digi Pay is the need of the hour. We know payment modes have changed. There is increasing adoption of digital payment, and if urban cooperative banks do not match, they will be out of the race,” Shah said, setting a target of onboarding 1,500 banks to the platform within two years.

The minister emphasised that the GDP growth alone cannot measure national progress.

“GDP should grow, but along with it should create livelihood options and uplift the poor, which cooperative banks can do,” he said, calling on UCBs to redesign their finance patterns to focus on young entrepreneurs and the economically disadvantaged.

Since the formation of a separate cooperation ministry in 2021-22, the central government has undertaken several policy reforms to modernise the sector.

Despite cooperation being a state subject, the Centre provided policy guidance to ensure uniformity.

Model bylaws for Primary Agricultural Credit Societies (PACS) were framed, which all states, including West Bengal, adopted, enabling PACS to computerise and expand services.

Shah congratulated Amul and IFFCO for being ranked the world’s top two cooperatives by the International Cooperative Alliance, calling it evidence that the cooperative movement remains relevant.

NAFCUB Chairman Emeritus and Karnataka Law Minister HK Patil raised concerns about 20 UCBs on the verge of closure, calling for revival efforts similar to those undertaken for Yes Bank.

“The current approach is not the right way to close down a bank solely because they are unviable,” he said.

Minister of State for Cooperation Krishna Pal Gurjar, Cooperation Secretary Ashish Kumar Bhutani, NAFCUB President Laxmi Dass, and NAFCUB Director Jyotindra M Mehta were present at the event.

Mumbai: Equity benchmark indices Sensex and Nifty rebounded in early trade on Monday after sliding for the past three sessions tracking positive trends in Asian markets and buying in blue-chip stocks.

Besides, traders said fresh foreign fund inflows also supported investors’ sentiment.

The 30-share BSE Sensex climbed 267.74 points or 0.32 per cent to 83,484.02 in early trade. The 50-share NSE Nifty advanced 84.90 points or 0.33 per cent to 25,577.20.

Among the 30 Sensex firms, Asian Paints, Bharat Electronic Ltd, Larsen & Toubro, Titan, Reliance Industries, Tata Motors Passenger Vehicles, Infosys, Bajaj Finserv, Axis Bank, Bajaj Finance, ITC and Bharti Airtel were the gainers.

Trent Ltd, Power Grid, Mahindra & Mahindra, NTPC, State Bank of India, Adani Ports and UltraTech Cement were among the laggards.

In Asian markets, South Korea’s Kospi jumped 3 per cent, Japan’s Nikkei 225 index gained nearly 1 per cent, and Hong Kong’s Hang Seng rose 0.47 per cent, while Shanghai’s Composite Index was trading marginally lower.

The US markets ended largely higher on Friday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 4,581.34 crore on Friday, while Domestic Institutional Investors outnumbered the FIIs by acquiring the stocks worth Rs 6,674.77 crore, according to the exchange data.

Brent crude, the global oil benchmark, increased by 0.64 per cent to USD 64.04 per barrel.

On Friday, the 30-share BSE Sensex declined 94.73 points to settle at 83,216.28. The 50-share NSE Nifty dipped 17.40 points to 25,492.30.