MAHARASHTRA CRISIS
No agreement signed with GNA, so where is the question of withdrawal, asks Kerala CM
Keralam Chief Minister V D Satheesan addressed accusations about the state's electricity purchasing agreements with GNA. He emphasized that no formal contract had been signed, dismissing allegations of an ongoing deal. The Chief Minister criticized previous governments for lacking long-term electricity planning or generation enhancements. Satheesan assured that the UDF government will seek permanent solutions to the power crisis.
Karnataka Minister Patil blames Centre's UDAN policy for Shivamogga flight suspension, says aviation policy set for Cabinet nod
Karnataka is preparing to present a new civil aviation policy aimed at enhancing regional connectivity and airport management. The policy suggests financial help and viability gap funding to bolster state-operated airports. Minister MB Patil criticized the Centre for inadequate support related to flight operations. He held the Union government accountable for the ethanol production crisis affecting local sugar mills.
Gokul Dairy row: Thousands take to streets in Kolhapur against Maharashtra government's decision to appoint directors
Thousands of people participated in a march in Kolhapur to protest against changes to Gokul Milk Cooperative voting rules. The Congress accused the BJP-led Maharashtra government of trying to take control following recent elections. Following a dispute over voting rights, the BJP's strength in the cooperative increased from 12 to 16 seats. Chief Minister Devendra Fadnavis defended the decision, claiming it was necessary to address quorum issues.
NDA government stands firmly with farmers amid drought situation: PM Modi
Prime Minister Narendra Modi affirmed his government's commitment to assist drought-affected farmers in Maharashtra. He emphasized the importance of ensuring the happiness of farmers during the festive season. The Maharashtra state government has declared 85 percent of the state drought-hit and announced interim aid.
Mass brands give liquor companies a hangover
"It is difficult to pinpoint the reasons for the slowdown, even in states such as Uttar Pradesh which had recorded strong growth earlier," said Amar Sinha, managing director of Allied Blenders and Distillers (ABD), maker of Officer's Choice whisky. There are "no clear factors explaining the weakness," he said.
Book microfinance brass if farmers face recovery harassment: Maharashtra CM Devendra Fadnavis
"All superintendents of police have been instructed to immediately file a case if anyone (microfinance companies) is found harassing any farmer for repayment of dues. We have told them that if they find that microfinance companies are threatening or using force against farmers, they should take action and file a case against their top officials. The state government has taken a decision in this regard," said the chief minister.
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Ahead of Market: 10 things that will decide stock market action on Wednesday
Sensex and Nifty closed marginally lower as elevated crude oil prices and Fed uncertainty tempered sentiment. Smallcaps surged over 2%, midcaps gained over 1%, and market breadth favoured bulls, with 2,455 NSE stocks advancing.
Forget short-term pressure; in the long term, the right business is what pays: 5 mid-cap stocks with an upside potential of up to 36%
We have said this before, and we say it again: No one can predict when the market will bottom out. You can see the bottom only in hindsight, once it has been reached. So, don’t try to catch the bottom; try, instead, to own the right business.
NBFCs curb fresh loans in rural markets as weak monsoon raises repayment risks
India's leading non-bank lenders like Shriram Finance and Bajaj Finance are limiting new lending in drought-affected regions. The lenders are closely monitoring borrowers for early signs of repayment difficulties due to weak monsoon rainfall. Companies are adjusting loan growth expectations downward and strengthening collection efforts in impacted locations. Several states are under close scrutiny as economic pressures mount from lower incomes and agricultural yields.
LPG cylinder costs Rs 10,000 in Pakistan as border closure triggers shortages, 6,000 dealer shops shut
Pakistan's LPG crisis has pushed prices to Rs 750 per kilogram in some areas, taking cylinder costs above Rs 10,000. The Gabd-Rimdan crossing with Iran has reopened after a week-long suspension, but dealers are protesting alleged harassment by enforcement agencies. With market rates far above the official price, households are struggling to secure affordable cooking fuel.
A turbulent year at HDFC Bank: Controversies that kept India’s biggest private lender in the headlines
HDFC Bank has faced a turbulent year marked by governance concerns, its former chairman’s abrupt exit, scrutiny of Dubai operations, post-merger profitability challenges and CEO Sashidhar Jagdishan’s departure. A fresh probe into alleged leaks of confidential information adds to the challenges awaiting incoming chief executive Anup Bagchi as the bank seeks to restore investor confidence.
These mid-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of over 25%, according to analysts
The last few weeks have made one thing clear. Oil prices, US bond yields, corporate earnings, and the state of the world – all point the same way. So, the market is more likely to stay in this jumpy and uncertain mood for quite some time. But then there is something called history, and it provides some interesting lessons.
Eateries cut corners as high costs and hygiene crackdowns take a toll
New strategies include pausing high-cost menu items and introducing smaller portions for diners. Increased operational expenses due to regulatory compliance have also led to price hikes for consumers. Many restaurant operators indicate they must share some inflation costs with patrons to maintain profitability. Consequently, price increases of 10-15% are expected across several restaurants in Mumbai.
These mid-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of over 25%, according to analysts
Why should one be careful of the market at this juncture? One reason is that stocks are still not cheap. Even after all the nervousness of the past over two years, valuations have not come down to levels where you can say you are getting a bargain. When you buy something that is not cheap, you have less room for error, because the price already assumes things will go well.
SC rejects MMTC appeal against National Spot Exchange settlement scheme
The Supreme Court has dismissed MMTC's appeal regarding a settlement scheme by National Spot Exchange Ltd. The scheme, amounting to Rs 1,950 crore, aims to settle creditor claims from a 2013 crisis. Although MMTC opposed the scheme, it did not present objections during proceedings. The National Company Law Appellate Tribunal previously upheld this scheme with over 90% creditor support.
MPSC row: Government action against chairperson marks major win for Maharashtra student protests
The Maharashtra government has decided to send MPSC chairperson Vivek Bhimanwar on leave following student protests. This administrative action follows allegations of examination irregularities that have gained national attention. Political figures, including Rahul Gandhi and Rohit Pawar, supported the student-led demonstrations and coordinated efforts. Chief Minister Devendra Fadnavis appointed FDA chief Tukaram Mundhe to the inquiry committee recently.
Mumbai’s water cut and supply gap persist as demand heads for a 57% rise by 2041
Mumbai's water supply is presently unable to meet the increasing demand, which is expected to rise substantially. By 2041, the anticipated deficit could exceed 2,300 million litres daily, posing critical challenges. Current water projects are encountering delays, which hampers timely resource delivery and management. Additionally, a recent monsoon shortfall has complicated the city's water situation even further.
India’s monsoon risks may raise food industry costs: D&B
India is experiencing agricultural risks attributed to monsoon conditions, which could impact food processors and poultry producers. Procurement costs and inventory needs are likely to rise significantly due to these agricultural challenges. Rice and wheat stocks provide immediate buffers against potential food-supply issues, but maize faces direct risks from production shortfalls. Affected states include Madhya Pradesh and Rajasthan, which contribute significantly to overall foodgrain output.
Pulses prices surge: Will cheaper imports bring relief to consumers? Stakeholders divided
India currently imposes a 10% import duty on red lentils and chickpeas, while yellow peas attract a 30% duty.
Drought, fodder crisis push Latur farmers to harvest sugarcane for cattle feed
Farmers in Latur district are facing a severe fodder crisis due to a lack of rainfall. Many are forced to harvest sugarcane crops to feed their livestock amidst deteriorating conditions. As a result, milk production has significantly decreased, impacting farmers' incomes. The Maharashtra government has declared a drought in majority of its talukas and announced relief measures. Local farmers are appealing for official fodder camps to be established urgently.
Running water trains: Railways ready to transport water to drought-hit Maharashtra, but state must first find a water source
Central Railway is open to running special water trains to drought-hit districts of Maharashtra if the state government provides an adequate water source. The railway zone has not yet received a formal request. With 265 of Maharashtra’s 358 talukas declared drought-hit, officials said the scale of the current situation could make the operation more challenging than the 2016 Latur water train.
Companies upset as states delay labour codes adoption
Major industrial states including Karnataka, Tamil Nadu, Maharashtra, Telangana, Haryana and Punjab are taking longer than expected to notify the final rules, leaving employers in a flux over several divergent provisions. HR departments say they now have to navigate Centre-state rules that don't align, creating inconsistencies in compliance requirements.
El Nino fears: Govt cuts foodgrain target by 2.63 MT
India has announced a reduced foodgrain production target of 373.93 million tonnes for the 2026-27 crop year. The decision comes amidst concerns over El Niño weather patterns impacting agricultural conditions across the country. Sowing operations for kharif crops have been completed, while rabi crop planting will start in October.
IndusInd Bank CEO Rajiv Anand says name ‘unmapped’ from voter roll
Rajiv Anand, the MD and CEO of IndusInd Bank, has been informed that his name is unmapped from the electoral roll. He expressed confusion as he has valid identification including voter ID and Aadhar card. The Election Commission is conducting a Special Intensive Revision for voter list updates. They have extended deadlines for filing claims in Delhi and Maharashtra as part of this effort.
Nearly 7 billion litres without a market: Ethanol glut in India fuels search for new buyers
India’s ethanol industry is deluged with severe oversupply, with nearly 7 billion litres of capacity without a clear market. Installed capacity has reached about 20 billion litres, while E20 blending needs around 11 billion litres and non-fuel sectors consume another 3–3.5 billion litres.
Smart rice policy would be nice
In the 2026-27 cycle, India's rice production is projected to fall by 6.5% compared to the previous year, largely due to monsoon rainfall being 15% below the seasonal average. This shortfall poses significant challenges for farmers, likely leading to financial hardship as both yields and cultivated areas decline. However, with high existing stockpiles, domestic markets may not face critical shortages.
Maharashtra drought deepens, crop output crisis mounts
State agriculture minister Dattatray Bharane has confirmed a large contraction in the production of cotton and soybean, while the agriculture department has initiated an early crop assessment to calculate compensation as farmers are removing wilted crops from fields.
IIT Bombay to replace ceiling fans with wall-mounted fans after student's death
IIT Bombay is replacing ceiling fans with wall-mounted fans in its hostels. This action follows the recent suicide of a second-year B Tech student. The institute had previously discussed this replacement after another student's death. Critics question if this measure addresses the broader student suicide crisis. More than 117 students have died by suicide at IITs over two decades.
Democracy facing deep crisis in country under BJP rule: Bengal Congress chief
West Bengal Congress chief Subhankar Sarkar has accused the BJP government and Election Commission of undermining democracy, alleging repression of dissent and calling for opposition unity ahead of the October 6 Nandigram and Rejinagar bypolls. His remarks come as Congress candidate Milan Pradhan remains in judicial custody in connection with cases linked to the 2007 Nandigram agitation.
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