Yesterday's big news was related to India's GDP. Global rating agency Moody's has now increased the estimate of India's Gross Domestic Product (GDP) growth to 7.1% for the calendar year 2024. Earlier, Moody's had increased the estimate of India's GDP growth from 6.1% to 6.8%. At the same time, the stock market made an all-time high for the fourth consecutive trading day. During trading, the Sensex touched 85,163 and the Nifty touched 26,011.
Before tomorrow's big news, today's major events, which will be in focus…
- There may be a rise in the stock market today on Wednesday.
- There has been no change in the prices of petrol and diesel.
Now read yesterday's big news…
1. Moody's increased India's GDP growth forecast for 2024 to 7.1%: Earlier it was 6.8%, the agency said – India's GDP will grow at the rate of 6.5% in 2025
Global rating agency Moody's has now increased India's Gross Domestic Product (GDP) growth forecast to 7.1% for the calendar year 2024. Earlier, Moody's had increased India's GDP growth forecast from 6.1% to 6.8%.
At the same time, Moody's has maintained its estimate of India's GDP growth at 6.5% for 2025. Apart from this, the agency has estimated India's GDP growth for 2026 to be 6.6%.
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2. Sensex made all-time high of 85,163 and Nifty of 26,011: Market closed down 14 points at 84,914, metal and energy stocks rose
The stock market made an all-time high for the fourth consecutive trading day on September 24. During trading, the Sensex touched 85,163 and the Nifty touched 26,011. However, after this the market came down and the Sensex closed at 84,914 with a decline of 14 points.
Nifty saw a gain of just 1 point and closed at 25,940. Metal and energy stocks rose. IT, banking and FMCG stocks declined. Tata Steel's stock rose 4.32% and was the top gainer on Nifty.
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3. US Supreme Court held Byju's guilty of loan default: Delaware court said – Byju's defaulted on $ 1.5 billion term loan
The Delaware Supreme Court of America has upheld the decision to hold Byju's guilty of defaulting on a loan of 1.5 billion dollars. Due to this, the troubles of the edtech company Byju's, which is facing financial crisis, may increase. In fact, while giving the verdict, the Chancery Court had considered Byju's a defaulter of 1.2 billion dollars.
This decision has now been approved by the Delaware Court as well. Byju's lenders, through their administrative agent Glass Trust, filed a case in the 'Delaware Court of Chancery', in which they accused Byju's of not making payments under the loan agreement.
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4. Arcade Developers shares listed at ₹175.90, up 37.42%: Issue price was ₹128; Northern Arc Capital shares also listed at a 33.46% premium
Shares of Arcade Developers Limited, Northern Arc Capital Limited and Western Carriers Limited got listed on the stock exchanges on (24 September). Shares of Arcade Developers got listed on the National Stock Exchange (NSE) at ₹ 175.90, up 37.42% from the issue price of ₹ 128. Shares got listed on the Bombay Stock Exchange (BSE) at ₹ 175, up 36.72% from the issue price.
At the same time, the share of Northern Arc Capital was listed on BSE at ₹ 351, which is 33.46% higher than the issue price of ₹ 263. On NSE, this share was listed at ₹ 350, which is 33.07% higher than the issue price. Whereas, the share of Western Carriers Limited was listed flat. The share of Western Carriers was listed at ₹ 170 on BSE and at ₹ 171 on NSE. The issue price of the stock was ₹ 172.
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5. Manba Finance IPO subscribed 24.12 times on the first day: 28.32 times subscribed in retail category, today is the second day of bidding
September 24 is the second day of investment in the Initial Public Offer (IPO) of Manba Finance Limited. On the first day, Manba Finance's IPO was subscribed a total of 24.12 times. The issue was subscribed 28.32 times in the retail category, 2.36 times in qualified institutional buyers (QIB) and 43.34 times in the non-institutional investors (NII) category.
25 September i.e. tomorrow is the last day of bidding for the IPO. On 30 September, the company's shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Manba Finance wants to raise a total of ₹ 150.84 crore through this issue. For this, the company is issuing 12,570,000 fresh shares worth a total of ₹ 150.84 crore. The company's existing investors are not selling a single share through the Offer for Sale i.e. OFS.
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6. Nexon EV launched with bigger battery, starting price ₹13.99 lakh: Panoramic sunroof and 489km range on full charge, Red Dark Edition also introduced
Tata Motors has launched the Nexon EV in India (September 24) with a larger 45kWh battery pack. This now increases the car range from 465km to 489km on a full charge. Tata Nexon EV competes with Mahindra XUV400 EV, Tata Curve EV and MG Windsor EV.
Nexon EV is available in four variants – Creative, Fearless, Empowered and Empowered Plus, whose ex-showroom prices range from Rs 13.99 lakh to Rs 16.99 lakh. The company has now also given the option of panoramic sunroof in it and has also added new features.
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7. Tata Nexon iCNG launched, will get mileage of 24km/kg: This is India's first CNG car with turbo petrol engine, price starts at Rs 8.99 lakh
Tata Motors has launched the CNG version of its most popular car Nexon on (24 September). This compact SUV comes with a turbo petrol engine. Hence, this is the first car in India to come with a turbo petrol engine and CNG combination. The company claims that the car will run 24 kilometers in one kilo of CNG.
The Nexon now comes with a panoramic sunroof along with the CNG powertrain. Tata has offered the Nexon iCNG in four variants – 8 variants. Its price starts at Rs 8.99 lakh with the Smart variant, going up to Rs 14.59 lakh (ex-showroom, pan-India) for the top variant Fearless Plus PS.
Click here to read the full news…
Also see who were the top 10 richest people in the world yesterday…
Know the condition of tomorrow's stock market and gold-silver…
Know the latest price of petrol, diesel and gas cylinder…
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