Business – Page 29 – SD NEWS agency

Bilaspur Train Tragedy: Loco Pilot Who Failed Psychological Test Was at the Controls — Major Railway Lapse Exposed

7Nov

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Business, DELHI (national capital territory)

Bilaspur Train Tragedy: Loco Pilot Who Failed Psychological Test Was at the Controls — Major Railway Lapse Exposed

**** New Delhi: In a shocking revelation, the investigation into the Bilaspur train accident in Chhattisgarh has exposed a serious case of human negligence within the Indian Railways. Officials have confirmed that the loco pilot operating the MEMU passenger train had failed the mandatory psychological (psycho) test, yet was allowed to drive the train — a direct violation of railway safety norms. The tragic collision between a MEMU local train and a goods train near Gevra Road station on November 4 claimed 11 lives, including that of loco pilot Vidyasagar. Initially, the accident was attributed to a fault in the automatic signaling system, but the latest findings by the Commission of Railway Safety (CRS) suggest human error played a significant role. Pilot Had Failed the Test in Ju...

DII Surge Turns Tables in Indian Stock Market After 25 Years, FIIs Take a Backseat

6Nov

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Business

DII Surge Turns Tables in Indian Stock Market After 25 Years, FIIs Take a Backseat

**New Delhi: After 25 years, the Indian stock market is witnessing a historic shift in investment trends. Domestic Institutional Investors (DIIs) have overtaken Foreign Institutional Investors (FIIs) in market participation, marking a significant turning point in the equity landscape. DII Holdings Hit Record HighAccording to the latest September-quarter data, DII holdings in NSE-listed companies have surged to 18.26%, the highest level ever recorded. In contrast, foreign investors’ holdings have dropped to 16.71%, the lowest in 13 years. The crossover between DIIs and FIIs actually occurred in the March quarter, driven by strong domestic inflows. Why the Shift?Siddharth Bhamre, Research Head at Asit C Mehta Intermediates, explained that the widening gap between FII and DII holdings r...

Mahindra & Mahindra Exits RBL Bank Stake, Nets 62.5% Profit in Just Two Years

6Nov

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Business

Mahindra & Mahindra Exits RBL Bank Stake, Nets 62.5% Profit in Just Two Years

Mumbai: Mahindra & Mahindra (M&M), led by Anand Mahindra, has sold its entire 3.53% stake in RBL Bank, realizing a total deal value of ₹678 crore. The sale comes nearly two years after M&M had initially invested in the bank, yielding a remarkable 62.5% return on their investment. Strategic InvestmentM&M had purchased its stake in RBL Bank on 26 July 2023, investing ₹417 crore. In a regulatory filing, the company stated:"We wish to inform you that the company has sold its entire stake in RBL Bank today for ₹678 crore, resulting in a 62.5% gain on our investment." Market ReactionFollowing the announcement, M&M shares rose 1.84% to ₹3,647.50 on the BSE at noon on Thursday. RBL Bank shares also responded positively, climbing 1.06% to ₹327.45 during the same period. ...

kAdani Power Shares Poised for Surge: Morgan Stanley Highlights 4 Key Drivers

6Nov

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Business

kAdani Power Shares Poised for Surge: Morgan Stanley Highlights 4 Key Drivers

New Delhi: Adani Power Limited, a flagship company of the Adani Group, is expected to witness a significant uptick in its share price in the coming months. Global brokerage firm Morgan Stanley has projected a potential 17% rise, with the stock possibly reaching ₹185 per share. The firm has maintained its “Overweight” recommendation on Adani Power, citing multiple growth catalysts for the company in upcoming quarters. 1. Coal Remains CrucialCoal continues to play a vital role in India’s energy security, especially in meeting peak evening electricity demand. Adani Power, India’s largest independent power producer (IPP) and the second-largest thermal power developer after NTPC, currently holds an 8% market share in coal-based power generation capacity and output. 2. Rising Market ShareM...

ED Summons Anil Ambani: Billionaire Industrialist to Appear on November 14 Amid Escalating Scrutiny

6Nov

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Business

ED Summons Anil Ambani: Billionaire Industrialist to Appear on November 14 Amid Escalating Scrutiny

New Delhi: Anil Ambani, younger brother of Mukesh Ambani and chairman of the Reliance ADAG Group, faces renewed challenges as the Enforcement Directorate (ED) has summoned him for questioning in a money laundering case. The summon has been issued for November 14. This development comes shortly after the ED provisionally seized over 132 acres of land at Dhirubhai Ambani Knowledge City in Navi Mumbai, valued at ₹4,462.81 crore, under the Prevention of Money Laundering Act (PMLA). Earlier Asset SeizuresEarlier, the ED had seized 42 properties linked to Reliance Communications Limited (RCOM), Reliance Commercial Finance Limited, and Reliance Home Finance Limited in connection with bank fraud cases. The total valuation of these properties exceeded ₹3,083 crore, bringing the cumulative sei...

India’s Digital Economy Faces Alarm: What If Google, X, Facebook Shut Down? Experts Call for ‘Plan B’

6Nov

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Business

India’s Digital Economy Faces Alarm: What If Google, X, Facebook Shut Down? Experts Call for ‘Plan B’

** New Delhi: Amid the ongoing U.S. government shutdown, Indian tech leaders have raised serious concerns over the country’s growing dependence on American technology. Sridhar Vembu, founder of Zoho, warned that a sudden disruption in access to platforms like Google, Facebook, Instagram, X, and ChatGPT could severely impact India’s digital infrastructure. He has appealed for a 10-year “National Mission for Tech Resilience” to reduce dependency and strengthen domestic capabilities. Vembu’s warning comes at a time when nations are increasingly leveraging their technological strengths as strategic tools. Just as China has used control over rare earth materials to assert global influence, reliance on U.S. tech giants poses similar vulnerabilities for India. Industry Voices Raise Alarm...