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The Prime Minister’s Internship Scheme, announced in the Union Budget 2024-25, is set to offer a tremendous opportunity for young Indians to gain hands-on experience in leading companies across diverse sectors. As of October 12, the portal for this ambitious initiative is open for registrations, with over 90,000 internship positions posted by top companies like <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword>, <keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="261" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> (TCS), ONGC, Maruti Suzuki, and more. Here’s everything you need to know about how to apply, the companies participating, and answers to frequently asked questions. <h2>Step-by-Step Guide to Applying for the <keyword id="23273918" type="General" weightage="100" keywordseo="PM-Internship-Scheme" source="keywords">PM Internship Scheme</keyword></h2><ol><li>Visit the Official Portal: The PM Internship Scheme’s application process takes place on the official website,<a href="http://pminternship.mca.gov.in"> pminternship.mca.gov.in</a>.</li><li>Register and Set Up Your Profile: After opening the portal, you’ll need to register and fill out basic information, including educational qualifications, age, and internship preferences.</li><li>Explore Internship Listings: With over 90,000 internships available from 193 companies, you can browse listings in sectors like Oil &amp; Gas, Travel &amp; Hospitality, Automotive, Banking, and more. Each listing will provide details on job roles, skills required, and specific fields like Operations Management, Production, Maintenance, and Sales.</li><li>Apply for Your Chosen Roles: You can apply for up to five internships based on your interests, qualifications, and preferred location. The portal allows for an easy application submission and lets you track your applications.</li><li>Confirmation and Next Steps: Once you apply, download the confirmation page for reference. Internships are set to begin on December 2, 2024, so selected candidates will receive further instructions as the start date approaches.</li></ol><h2>Major Companies Participating in the PM Internship Scheme</h2>Here are some of the top companies that have already posted internships on the portal, with more joining every day: <ul><li>Reliance Industries Ltd.</li><li>HDFC Bank</li><li>Tata Consultancy Services (TCS)</li><li>Oil and Natural Gas Corporation (ONGC)</li><li>State Bank of India (SBI)</li><li>Maruti Suzuki India Ltd.</li><li>Jubilant FoodWorks</li><li>Larsen &amp; Toubro Ltd.</li><li>Eicher Motors Ltd.</li><li>Muthoot Finance</li></ul>These companies are providing internships across over 20 fields, covering a wide range of skills and sectors. The biggest opportunities are currently in the Oil &amp; Gas sector, followed by industries like Travel, Automotive, and Financial Services. <div type="Article" hostid="261" msid="113986236" title="Why so many entry-level jobs aren&amp;#39;t entry-level" mstype="2" mssubtype="0"></div><h2>Key Features of the Internship Scheme</h2>Under the scheme, interns will receive a stipend of Rs 5,000 per month, plus a one-time grant of Rs 6,000 to support miscellaneous expenses. These internships are available across 737 districts in all 37 states and Union Territories, making this a truly inclusive national program. Interns can indulge in many diverse internship roles. From operations to maintenance, sales, marketing, and production, these internships offer a variety of hands-on experiences that match real-world corporate needs. <h2>FAQs about the PM Internship Scheme</h2><h5>Who is eligible?</h5>The scheme is open to Indian citizens aged 21 to 24 who are not employed full-time or enrolled in full-time study programs. Candidates in online or distance learning programs are eligible. <h5>What sectors offer the most internships?</h5>The largest number of internships are in the Oil &amp; Gas, Travel &amp; Hospitality, Automotive, and Banking &amp; Financial Services sectors, with positions also available in fields like Manufacturing, IT, and Retail. <h5>When do the internships start?</h5>Internships for this year will begin on December 2, 2024. The scheme aims to facilitate 1.25 lakh internships this financial year and eventually reach one crore internships over the next five years. <h5>What are the application deadlines?</h5>The portal is open from October 12 for candidates to start applying, with companies continuing to post positions as the scheme rolls out. It’s recommended to apply early, as some positions may fill up quickly. <div type="Article" hostid="261" msid="114029056" title="Read 5 résumés that helped techies land $300,000-plus jobs at Google, Meta, Amazon, and Salesforce" mstype="2" mssubtype="0"></div>

PM Internship Scheme finally launched — here’s how you can apply to work with Reliance, TCS, SBI and more!

<ul><li>Donald Trump has won the US presidential elections, beating Kamala Harris.</li><li>Trump’s win may shift the <keyword id="23846166" type="General" weightage="20" keywordseo="global-energy-outlook" source="keywords">global energy outlook</keyword> in response to anticipated changes in policy.</li><li>Trump has consistently advocated boosting oil and natural gas production in the US.</li></ul>Trump's win in the US presidential election may shift the global energy outlook in response to anticipated policies says a report by Angel One Wealth. Donald Trump, known for his stance on domestic energy independence, has consistently advocated boosting oil and natural gas production in the U.S., a move likely to put downward pressure on global crude oil prices. According to the report from Angel One Wealth, crude prices could soon see a correction, as Trump is expected to keep prices in check by ramping up domestic production. His emphasis on self-reliance in energy is expected to reduce the U.S. dependency on foreign oil sources, thereby impacting global supply and pricing dynamics. The report said "Donald Trump is likely to keep the crude prices under tight control as Trump has consistently advocated for increasing domestic energy production" The report also noted that Trump's preference for a non-interventionist stance in foreign conflicts might help stabilize oil prices by allowing for quicker de-escalation. However, there is potential for volatility if Trump imposes new sanctions on Iran, which could disrupt the region’s oil supply. In general, the report suggests that Trump's impact on the energy sector may result in lower crude prices, though other external factors will remain influential. In addition to energy, Trump's policies are expected to be expansionary, meaning higher government spending which could increase the U.S. fiscal deficit and, consequently, its national debt. The rise in U.S. debt is anticipated to have a positive impact on gold prices, as heightened debt levels and potential inflationary pressures drive investors towards safe-haven assets. Gold is already experiencing high demand in China, adding further support to its value. While there are some arguments against gold due to reduced volatility in equity markets, a stronger dollar, and a potential "risk-on" rally in equities, the report noted that gold's fundamentals remain strong, making it an attractive asset in the current environment. "A rise in US debt is positive for Gold and this time is likely no different as inflation worries arise. Gold is also seeing unprecedented demand in China which further bolsters the asset class". The report also reiterated its positive outlook on silver, which, like gold, stands to benefit from economic uncertainty and increased demand for safe-haven investments. However, the gold prices on the other hand on Thursday also declined to ₹78,710 / 10gm, a day before it closed at ₹80,500. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/skoda-kylaq-suv-launched-in-india-starting-at-7-89-lakh/articleshow/115013668.cms">Skoda Kylaq SUV launched in India starting at ₹7.89 lakh</a> <a href="https://www.businessinsider.in/stock-market/webstories/swiggy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115004939.cms">Swiggy IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms">Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away</a>

Global energy outlook will shift once Trump returns to White House: Report

<ul><li>Stock markets opened marginally up on Monday, starting the week on a cautious note.</li><li>Experts noted that the effect of the Chinese stimulus and <keyword id="20064250" type="General" weightage="20" keywordseo="geopolitical-risks" source="keywords">geopolitical risks</keyword> in <keyword id="19991358" type="General" weightage="100" keywordseo="Indian-markets" source="keywords">Indian markets</keyword> is slowing.</li><li><keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, <keyword id="20032279" type="General" weightage="20" keywordseo="HCL-Technologies" source="keywords" meta.keywordsubtype="org" meta.entityname="HCL Technologies" meta.hostid="261" meta.entityid="HCL Technologies">HCL Technologies</keyword> and Angel One are the major companies set to announce their quarterly results today.</li></ul>On Monday, the stock markets started the week cautiously, with both indices showing small gains. The <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> index went up by 59.20 points and opened at 25,023. The BSE <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> index also did well, going up by 0.24% or 195 points to open at 81,576.93. Experts say that the Chinese stimulus and the world's politics are having less of an effect on Indian markets. But the upcoming US presidential election is making the world more volatile, so the markets won't be able to relax anytime soon. "Chinese stimulus boost is wearing thin but Indian markets are not benefitting for now. Earnings will be drivers of the Indian markets this week. The geopolitical risks have reduced slightly with a relatively calm weekend in the Middle East. October has played out to the US Presidential cycle historical performance. Expect more volatility going into the tight US race and a relief rally post the Nov 5th vote" said Ajay Bagga, Banking and Market Expert. The equity market experienced a surge in prices today, with all sectors demonstrating a positive trend from the outset. Nifty Media emerged as the standout performer, registering a significant increase of 0.55% at the opening bell. Investors are advised to closely monitor the performance of Reliance Industries, HCL Technologies, Angel One, and Alok Industries. These companies are scheduled to release their quarterly financial results later today. "Nifty continues to remain in a range of 24800 to 25200. However, FIIs long continue to be at 36% indicating the rise of net shorts which can see a selling pressure in indices at resistances. For any short covering in Nifty, it has to cross the 25300+ level for the same. However, were the support of 24800/24750 to break, a fresh round of selling can be witnessed towards the 24500/24300 range" said Soni Patnaik, AVP, Derivatives Research Analyst, JM Financial Services. In other Asian markets on Monday, Hong Kong's Hang Seng index was down by 1.21%, along with Taiwan's Taiwan Weighted, which was also down marginally. South Korea's KOSPI index gained 1% at the time of filing this report. <h2>FPIs turn net seller in October</h2>Foreign investors turned net sellers in October, withdrawing shares worth ₹58,711 crore in the month so far owing to the escalating conflict between Israel and Iran, a sharp rise in crude oil prices, and the strong performance of the Chinese market. The outflow came following a nine-month high investment of ₹57,724 crore in September. Looking ahead, global factors such as geopolitical developments and the future direction of interest rates will play a crucial role in determining the flow of foreign investments into the Indian equity markets, as per Himanshu Srivastava, Associate Director, Manager Research, Morningstar Investment Research India. The geopolitical crisis has also led to a sharp rise in Brent crude oil prices from $69 per barrel on Sep 10 to $79 per barrel on Oct 10, which poses inflationary risks and increases the fiscal burden for India, he added. With inputs from agencies. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/the-ola-electric-saga-are-surge-in-complaints-and-declining-market-share-a-wake-up-call-for-bhavish-aggarwal/articleshow/114120828.cms">The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?</a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-september-2024-maruti-suzuki-dominates-with-seven-cars/slidelist/114112295.cms">Top selling cars in India in September 2024 – Maruti Suzuki dominates with seven cars</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-leads-the-first-phase-of-festive-sales-with-a-20-market-share/articleshow/114070723.cms">Samsung leads the first phase of festive sales with a 20% market share</a>

Nifty, Sensex open with gain: experts note reduction of geopolitical risks on markets

Equity benchmark indices <keyword id="19896382" type="General" weightage="100" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> settled lower for the sixth straight session on Monday due to <keyword id="23460783" type="General" weightage="20" keywordseo="heavy-selling" source="keywords">heavy selling</keyword> in bellwether stocks including <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> and <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> amid mixed trends in the global markets and outflow of <keyword id="19975891" type="General" weightage="20" keywordseo="foreign-funds" source="keywords">foreign funds</keyword>. Falling for the sixth consecutive session, the <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> tumbled 638.45 points or 0.78 per cent to settle at 81,050. During the day, it plummeted 962.39 points or 1.17 per cent to 80,726.06. The NSE Nifty slumped 218.85 points or 0.87 per cent to end at 24,795.75. From the 30 Sensex firms, Adani Ports &amp; Special Economic Zones, NTPC, State Bank of India, PowerGrid, IndusInd Bank, Axis Bank, HDFC Bank, Titan and UltraTech Cement were the major laggards. Mahindra &amp; Mahindra, ITC, Bharti Airtel, Infosys, Bajaj Finance, Tata Consultancy Services and Tech Mahindra defied the trend. "The Indian markets have entered a consolidation phase with high risk of underperforming to Asian peers. "This phase is marked by significant corrections in the broader market due to premium valuations. There is notable global arbitrage activity, with Chinese markets attracting substantial inflows driven by its attractive valuations and stimulus measures," Vinod Nair, Head of Research at <keyword id="19933343" type="General" weightage="20" keywordseo="Geojit-Financial-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Geojit Financial Services" meta.hostid="261" meta.entityid="Geojit Financial Services">Geojit Financial Services</keyword>, said. Global oil benchmark Brent crude surged 2.09 per cent to USD 79.68 a barrel. European markets were trading on a mixed note on Monday. In Asian markets, Tokyo, Shanghai, Hong Kong and Seoul settled higher. Wall Street ended with gains on Friday. Investors are reassessing their portfolio positions and FIIs outflows are exacerbated. Amid escalating <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">geopolitical tensions</keyword>, the surging oil prices poses a further challenge to the domestic economy in the short-term, Nair added. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 9,896.95 crore on Friday, while Domestic Institutional Investors (DIIs) bought equities worth Rs 8,905.08 crore, according to exchange data. On Friday, the BSE Sensex tumbled 808.65 points to settle at a three-week low of 81,688.45, while NSE Nifty slumped 235.50 points to 25,014.60. Last week, the BSE Sensex tanked 3,883.4 points, or 4.53 per cent, and the Nifty slumped 1,164.35 points or 4.44 per cent.

Sensex, Nifty close lower amid massive selling in heavyweight stocks, mixed global cues

<keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, under the leadership of <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>, showcased its vision for the future during the company’s Annual General Meeting (AGM) that was held today (August 29). During the AGM, <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords">Reliance</keyword> laid out ambitious plans that span across its diverse businesses. The conglomerate, which has interests ranging from oil to telecom to retail, is positioning itself as a key player in India’s growth story, with a particular focus on <keyword id="20239522" type="General" weightage="20" keywordseo="technological-innovation" source="keywords">technological innovation</keyword>, energy security, and retail expansion. <h2>Not chasing short-term profits</h2><keyword id="19898589" type="General" weightage="20" keywordseo="ambani" source="keywords">Ambani</keyword>, during his speech, said that Reliance is not merely chasing short-term profits but is dedicated to creating long-term wealth for the nation. He reiterated the company’s commitment to providing high-quality products and services that enhance the lives of Indian consumers. The chairman announced that the company’s board will consider issuing bonus shares on September 5, further rewarding shareholders as Reliance continues to grow. <h2>Transforming into a deep-tech company</h2>A major theme of the AGM this year was Reliance’s transformation into a deep tech company, with advanced manufacturing capabilities at its core. Ambani described this shift as essential to securing a place in the global top-30 companies in the near future. He highlighted the company’s strategic adoption of artificial intelligence (AI), calling it one of the most transformative events in human history. AI, he noted, opens up new avenues to address complex problems, making Reliance a net producer of technology. Reliance has been making significant strides in R&amp;D, with over ₹3,643 crore invested in FY24 alone, taking the total research expenditure to over ₹11,000 crore in the last four years. This investment is driving innovations in various areas, including bio-energy, solar power, green energy, and high-value chemicals. The company has also been active in digital research, filing patents in 6G, 5G, AI, and IoT, among others. Ambani assured that this tech-driven transformation would propel Reliance into a new phase of hyper-growth, multiplying its value in the coming years. <h2><keyword id="20337020" type="General" weightage="20" keywordseo="retail-business" source="keywords">Retail business</keyword> to double</h2>In addition to technological advancements, Reliance Retail, the company’s retail arm, is set to double its business in the next three to four years. Isha Ambani, Director of Reliance Retail, shared that the retail segment recorded a gross revenue of ₹3.06 lakh crore for the financial year ending March 31, 2024, marking a 17.8% growth over the previous year. The retail business has rapidly expanded, with Reliance opening 1,840 new stores in the past year, bringing the total to 18,836 stores across 79 million square feet of retail space. This growth has positioned Reliance Retail among the top-5 global retailers in terms of store count and among the top-10 in market capitalization globally. Isha Ambani emphasised that much of this growth is driven by a focus on smaller towns, where two-thirds of the new stores have been opened. Reliance Retail is also focused on creating high-quality, affordable products through its Consumer Brands business, which has seen the re-launch of popular brands like Campa, Lotus Chocolates, and Sosyo. Mukesh Ambani concluded by underscoring Reliance’s mission to provide energy security to India while also contributing to a cleaner and greener world. As the global landscape becomes increasingly uncertain, he expressed confidence in India’s role as a key growth engine in the global economy. The International Monetary Fund (IMF) projects that India will become the world’s third-largest economy by 2027, surpassing Japan and Germany. Ambani affirmed that Reliance will continue to be a driving force in India’s march toward becoming a developed nation.

Reliance AGM 2024: Company aims to double retail business, Mukesh Ambani says not pursuing short-term profit

<ul><li>Equity benchmark indices <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> declined in early trade on Thursday.</li><li><keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword>, <keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="261" meta.entityid="ICICI Bank">ICICI Bank</keyword> and others declined in early trade.</li><li>JSW Steel, Tata Steel, Sun Pharma and NTPC were among the gainers.</li></ul>Equity benchmark indices Sensex and Nifty tanked in early trade on Thursday, dragged by a decline in heavyweight stocks Reliance Industries, HDFC Bank, ICICI Bank and spiralling conflict in the Middle East. The BSE Sensex tumbled 1,264.2 points to 83,002.09 in early trade. The NSE Nifty slumped 345.3 points to 25,451.60. From the 30 Sensex firms, Tata Motors, Asian Paints, Larsen &amp; Toubro, Axis Bank, Mahindra &amp; Mahindra, Reliance Industries, Maruti, Kotak Mahindra Bank, ICICI Bank and HDFC Bank were the major laggards. JSW Steel, Tata Steel, Sun Pharma and NTPC were among the gainers. "India is seeing strong FII net outflows and needs to do more on the policy front to make expensive markets attractive to global capital flows. RBI MPC meets next week but is expected to stay conservative. At best, we can expect a policy stance change to a more dovish outlook. Things are not rosy for Indian markets, but the primary market frenzy continues unabated. Caution amid volatility,” said Ajay Bagga, Banking and Market Expert. Experts highlighted that globally, markets are witnessing a shift after the Fed rate cut announcements, rising geopolitical tensions and foreign investors are pulling money out of Indian markets to invest in other markets like China are other reasons for selling pressure. In Asian markets, Hong Kong traded lower while Tokyo quoted in the positive territory. Markets in mainland China will be closed for the rest of the week due to the holiday. The US markets ended marginally higher on Wednesday. Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,579.35 crore on Tuesday, according to exchange data. Global oil benchmark Brent crude climbed 1.15 per cent to $74.75 a barrel. "In Tuesday's trade, FIIs were net sellers of ₹5,579 crore, while crude oil prices surged above $70 per barrel amid escalating tensions in the Middle East," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. The BSE benchmark dipped 33.49 points or 0.04 per cent to settle at 84,266.29 on Tuesday. The Nifty ended marginally lower by 13.95 points or 0.05 per cent to 25,796.90. Equity markets were closed on Wednesday for Mahatma Gandhi Jayanti. With inputs from agencies. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/bmw-ce-02-electric-scooter-launched-in-india-at-4-50-lakh/articleshow/113849708.cms">BMW CE 02 electric scooter launched in India at ₹4.50 lakh</a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms">Upcoming cars launching in India in October 2024</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms">Upcoming smartphones launching in India in October 2024</a>

Sensex, Nifty slump in early trade as Middle East conflict deepens

<ul><li>Equity benchmark indices tumbled nearly 1.5% on Monday due to heavy selling in large stocks.</li><li><keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, <keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="261" meta.entityid="ICICI Bank">ICICI Bank</keyword> and <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> recorded heavy selling.</li><li>The BSE <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> tumbled 1,272.07 points or 1.49% to settle at 84,299.78.</li></ul>Equity benchmark indices tumbled nearly 1.5% on Monday due to heavy selling in frontline stocks Reliance Industries, ICICI Bank and HDFC Bank amid rising geopolitical risks in the Middle East and weakness in Japanese markets. Besides, profit-taking after a record-breaking rally and foreign fund outflows added to the gloom, analysts said. The BSE Sensex tumbled 1,272.07 points or 1.49% to settle at 84,299.78. The NSE <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> tanked 368.10 points or 1.41% to 25,810.85. Among the 30 Sensex firms, Reliance Industries and Axis Bank declined over 3% each. ICICI Bank, Nestle, Tech Mahindra, Mahindra &amp; Mahindra, Maruti, Bajaj Finserv, State Bank of India and Tata Motors were the other major laggards. In contrast, JSW Steel, NTPC, Tata Steel, Titan and Asian Paints were the gainers. "Global markets turned topsy-turvy under the threat of rising geopolitical risk in the Middle-East and plausible increase in Yen interest rate which can reduce cross country investments in equity. On the contrary, the Chinese market had a resurgence due to a large stimulus package and cheap valuation. India also weakened under the global pressure and premium valuation while metals are expected to outperform in the near-term," said Vinod Nair, Head of Research, Geojit Financial Services. “The domestic benchmark indices opened negatively, aligning with weak Asian cues. Nifty started the day with a gap down, remained under pressure throughout the session, and ultimately closed on a negative note at 25,811. The volatility index, INDIA VIX, surged by 6.89%, settling at 12.79, indicating a rise in market volatility,” said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates. Japan's benchmark Nikkei 225 index tanked nearly 5% on Monday. The Shanghai Composite index surged 8% amid fresh stimulus measures announcement. European markets were trading lower. The US markets ended on a mixed note on Friday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,209.10 crore on Friday, according to exchange data. Global oil benchmark Brent crude declined 0.19% to USD 71.84 a barrel. The BSE benchmark Sensex declined 264.27 points or 0.31% to settle at 85,571.85 on Friday. During the day, it climbed 142.13 points or 0.16% to reach a new record intra-day peak of 85,978.25. The Nifty dipped 37.10 points or 0.14% to 26,178.95 after rising 61.3 points or 0.23% to an all-time intra-day peak of 26,277.35 during the session. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms">Upcoming cars launching in India in October 2024</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms">Upcoming smartphones launching in India in October 2024</a> <a href="https://www.businessinsider.in/stock-market/news/krn-heat-exchanger-ipo-allotment-check-allotment-status-gmp-listing-date-and-more/articleshow/113801258.cms">KRN Heat Exchanger IPO allotment – Check allotment status, GMP, listing date and more</a>

Sensex, Nifty tumble nearly 1.5% as bank stocks slump on weak Japanese markets

New Delhi: <keyword id="19902194" type="General" weightage="100" keywordseo="Anil-Ambani" source="keywords">Anil Ambani</keyword> is reviewing a <keyword id="20738747" type="General" weightage="20" keywordseo="Sebi-order" source="keywords">Sebi order</keyword> imposing a fine and banning him from capital markets for five years in an alleged fund diversion case and will take appropriate next steps as legally advised, his spokesperson said in a statement on Sunday. <keyword id="19898589" type="General" weightage="20" keywordseo="ambani" source="keywords">Ambani</keyword>, the spokesperson in a statement said, had resigned from the board of <keyword id="21260537" type="General" weightage="20" keywordseo="Reliance-Infrastructure-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Infrastructure Ltd" meta.hostid="153" meta.entityid="Reliance Infrastructure Ltd">Reliance Infrastructure Ltd</keyword> and Reliance Power Ltd, pursuant to Sebi's interim order dated February 11, 2022 in the matter pertaining to Reliance Home Finance Ltd. He "is in compliance with the said interim order (of February 11, 2022) for the last two and half years," the statement said. On the August 22 order that banned him and 24 others from the securities market for five years on charges of diversion of funds, the spokesperson said, "Mr Ambani is reviewing the final order dated August 22, 2024 passed by Sebi in the said matter, and will take appropriate next steps as legally advised." The Securities and Exchange Board of India (Sebi) had also imposed a fine of Rs 25 crore on Ambani, saying he orchestrated a scheme to "siphon off" funds from Reliance Home Finance, a listed subsidiary of conglomerate <keyword id="20479923" type="General" weightage="20" keywordseo="Reliance-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Group" meta.hostid="153" meta.entityid="Reliance Group">Reliance Group</keyword> of which he is chairman. The ban means that he and the other 24 will not be able to access the securities market and are prohibited from buying, selling or otherwise dealing in securities, directly or indirectly. In a separate statement, Mumbai-listed Reliance Infrastructure Ltd said it "was not a noticee or party to the proceedings before Sebi in which the order is passed. No directions are given in the order against Reliance Infrastructure Ltd". "Mr Ambani had resigned from the board of directors of Reliance Infrastructure Ltd pursuant to the interim order dated February 11, 2022 passed by Sebi in the same proceedings. Therefore, the order dated August 22, 2024 passed by Sebi has no bearing whatsoever on the business and affairs of Reliance Infrastructure Ltd," it said. Reliance Power, the other listed company of Anil Ambani's group, also issued a similar statement saying Ambani had resigned in 2022 and that the latest Sebi order has no bearing on it. Sebi in the August 22 order had stated that a "fraudulent" scheme "siphoned off" funds from Reliance Home Finance, which provides loans for housing and construction, by structuring them as loans to credit-unworthy borrowers. Most of these borrowers were linked to "promoters", the regulator had said. Anil Ambani and his elder brother Mukesh had in July 2006 split their father Dhirubhai Ambani-created Reliance Industries Ltd. Anil Ambani's Reliance Group spanned financial services, infrastructure and telecommunications while the elder brother got the traditional oil refining and petrochemicals business. Over the last few years, Anil Ambani has seen three of the largest firms within the group, including Reliance Communications, Reliance Capital, and Reliance Infrastructure, undergoing bankruptcy over unpaid debt. Sebi has charged that more than Rs 9,000 crore worth of loans from Reliance Home Finance were made to "nondescript borrowers who had no demonstrable financial ability to repay any of it". The other 24 banned include executives of Anil Ambani's Reliance Group and other unlisted companies connected to him.

Anil Ambani reviewing SEBI order, to take appropriate steps: Statement

Benchmark <keyword id="19963565" type="General" weightage="20" keywordseo="equity-indices" source="keywords">equity indices</keyword> <keyword id="19896382" type="General" weightage="100" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> closed lower on Thursday, tracking losses in the most valuable firm <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, <keyword id="20875770" type="General" weightage="20" keywordseo="Bharati-Airtel" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharati Airtel" meta.hostid="261" meta.entityid="Bharati Airtel">Bharati Airtel</keyword> and <keyword id="19963313" type="General" weightage="20" keywordseo="LT" source="keywords" meta.keywordsubtype="org" meta.entityname="L&amp;T" meta.hostid="261" meta.entityid="L&amp;T">L&amp;T</keyword> amid a negative trend in global markets. The 30-share <keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords">BSE</keyword> Sensex failed to hold on to initial gains and declined 151.48 points or 0.18 per cent to settle at 82,201.16. During the day, it dropped 222.2 points or 0.26 per cent to 82,130.44. The NSE Nifty dipped 53.60 points or 0.21 per cent to 25,145.10 despite a positive beginning of the trade. Among the 30 Sensex firms, Reliance Industries declined over 1 per cent. Tata Motors, Nestle, Bharti <keyword id="19896909" type="General" weightage="20" keywordseo="Airtel" source="keywords">Airtel</keyword>, Bajaj Finance, Larsen &amp; Toubro, JSW Steel and Mahindra &amp; Mahindra were other big laggards. In contrast, Titan, ITC, Infosys, HCL Technologies, Tata Steel and State Bank of India were among the biggest gainers. In Asian markets, Seoul, Tokyo and Hong Kong settled lower, while Shanghai ended higher. European markets were trading mostly lower in mid-session deals. The US markets ended on a mixed note on Wednesday. Foreign Institutional Investors (<keyword id="19950996" type="General" weightage="20" keywordseo="FIIs" source="keywords">FIIs</keyword>) bought equities worth Rs 975.46 crore on Wednesday, according to exchange data. On Wednesday, the BSE benchmark dropped 202.80 points or 0.25 per cent to settle at 82,352.64. The Nifty declined 81.15 points or 0.32 per cent to 25,198.70. The Nifty had surged nearly 1,141 points or 4.59 per cent in 14 straight days. Meanwhile, global oil benchmark <keyword id="20025497" type="General" weightage="20" keywordseo="Brent-crude" source="keywords">Brent crude</keyword> climbed 1.14 per cent to USD 73.53 a barrel.

Sensex, Nifty extend losses into 2nd session as Reliance, Airtel drag

<keyword id="19903807" type="General" weightage="100" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword>, the CEO of electric car maker Tesla and rocket manufacturer <keyword id="19905255" type="General" weightage="20" keywordseo="SpaceX" source="keywords" meta.keywordsubtype="org" meta.entityname="SpaceX" meta.hostid="261" meta.entityid="SpaceX">SpaceX</keyword>, may become the world's first <keyword id="20204152" type="General" weightage="20" keywordseo="trillionaire" source="keywords">trillionaire</keyword> by 2027, while Indian tycoon <keyword id="19929098" type="General" weightage="20" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> may attain that status in the following year, and Asia's richest man <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> may do so in 2033, according to an Informa Connect Academy report. For Musk, the richest in the world with $237 billion net worth, to become the world's first trillionaire, his wealth needs to grow at an average annual growth rate of 110%, the report said. <keyword id="19898586" type="General" weightage="20" keywordseo="Adani" source="keywords">Adani</keyword>, who is ranked 13th on the world billionaire index with a wealth of just under $100 billion, maybe the second trillionaire (net worth equal to at least one trillion US dollars) if his ports-to-power conglomerate was to continue growing at the current 123% average annual rate, it added. Rival <keyword id="19898589" type="General" weightage="20" keywordseo="Ambani" source="keywords">Ambani</keyword>, now ranked Asia's richest with a net worth of $111 billion, may achieve the same status in 2033, according to the report. His oil-to-telecom-and-retail conglomerate is slated to hit trillion-dollar market cap status in 2035. Ambani's <keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="261" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> is the only Indian company projected to hit that mark. The companies that will hit the trillion-dollar market cap mark include Taiwan's semiconductor maker TSMC, which has a market cap of $893.7 billion now and is expected to achieve that status in 2025. It will be closely followed by Berkshire Hathaway, pharma giant Eli Lilly, technology company Broadcom and electric automobile firm Tesla. The report said, "No one in the world has claimed trillionaire status - at least not yet. However, there are some likely candidates. The following are multi-billionaires who will probably become trillionaires sooner or later". After Elon Musk and Gautam Adani, NVIDIA founder Jensen Huang, Indonesian mogul Prajogo Pangestu, French businessman Bernard Arnault, and Facebook CEO <keyword id="19952202" type="General" weightage="20" keywordseo="mark-zuckerberg" source="keywords">Mark Zuckerberg</keyword> come next as prospective trillionaires. Currently, there are only a handful of companies that have crossed the $1 trillion in valuation. This includes Microsoft, Nvidia, Apple, Alphabet, Amazon, Saudi Aramco, and Meta. The most recent case is that of <keyword id="19921921" type="General" weightage="20" keywordseo="warren-buffett" source="keywords">Warren Buffett</keyword>'s Berkshire Hathaway in late August. Nvidia also joined the $ 1 trillion club in May 2023 and reached $ 3 trillion in June, becoming the second most valuable company in the world, with Microsoft ahead and Apple behind.

Elon Musk may be world's first trillionaire by 2027, Adani to touch the mark by 2028, Ambani in 2033: Report

<keyword id="19925636" type="General" weightage="20" keywordseo="stock-market" source="keywords">Stock market</keyword> benchmark indices <keyword id="19896382" type="General" weightage="100" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> surged nearly 1% on Monday amid renewed hopes that the US <keyword id="19904332" type="General" weightage="20" keywordseo="Federal-Reserve" source="keywords">Federal Reserve</keyword> will start cutting <keyword id="19950650" type="General" weightage="20" keywordseo="interest-rates" source="keywords">interest rates</keyword> soon. Traders said <keyword id="20072947" type="General" weightage="20" keywordseo="foreign-fund-inflows" source="keywords">foreign fund inflows</keyword> and buying in frontline stocks HDFC Bank and <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> also drove the markets higher. On Friday, US Federal Reserve Chair Jerome Powell said the time had come to lower the main interest rate from a two-decade high."The time has come for policy to adjust," Powell said. "The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks." The 30-share BSE Sensex jumped 611.90 points or 0.75 % to settle at 81,698.11. During the day, it surged 738.06 points or 0.91 % to 81,824.27. The NSE Nifty soared 187.45 points or 0.76 % to 25,010.60. Among the 30 Sensex firms, HCL Technologies, NTPC, Bajaj Finserv, Tech Mahindra, JSW Steel, Titan, Mahindra &amp; Mahindra, Tata Steel, Larsen &amp; Toubro and Tata Consultancy Services were the biggest gainers. Kotak Mahindra Bank, IndusInd Bank, Maruti and Hindustan Unilever were among the laggards. In Asian markets, Shanghai and Hong Kong settled in the positive territory while Seoul and Tokyo ended lower. European markets were trading mostly lower. The <keyword id="20577663" type="General" weightage="20" keywordseo="US-markets" source="keywords">US markets</keyword> ended with significant gains on Friday."The Fed chief Powell's clear message of the beginning of the rate cutting cycle will impart further resilience to the ongoing global rally in stock markets," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said. Foreign Institutional Investors (FIIs) bought equities worth Rs 1,944.48 crore on Friday, according to exchange data. Global oil benchmark Brent crude climbed 1.08 % to USD 79.87 a barrel. Rising for the fourth straight session on Friday, the BSE benchmark ended 33.02 points or 0.04 % higher at 81,086.21. The NSE Nifty edged up 11.65 points or 0.05 % to close at 24,823.15, registering gains for the seventh session in a row. Ajit Mishra – SVP, Research, Religare Broking Ltd noted that the markets kicked off the week on a positive note, gaining over half a percent, driven by a dovish stance from the US Fed. Mirroring other global markets, the Nifty opened strong and moved closer to its record high in the early hours. However, profit-taking in select heavyweight stocks limited further gains as the day went on. Eventually, the Nifty closed at 25,010.60, up 0.8%. All major sectors contributed to the rally, with metals, realty, and IT emerging as the top performers. The broader indices also moved higher, posting gains between 0.3% and 0.7%. "We maintain our optimistic outlook given the favorable global cues and recommend a “buy on dips” strategy. While there has been some selective participation from the banking sector, a lack of decisiveness among major private banks is restraining the momentum. Traders should adjust their positions accordingly, with focus on stock selection", he said. Aditya Gaggar, director of Progressive Shares highlighted that after an initial movement, the index held its gains and oscillated in a thin range to settle at 25,010.60 with gains of 187.45 points. "On a sectoral front, Metal (+2.16%) was the top performer followed by Realty (+1.76%) and IT (+1.39%) while PSU Bank (0.50%) was the major laggard. Mid and small caps also remained rangebound and underperformed the frontline index. With a strong bullish candle, the Index has filled its bearish gap zone which indicates a strong presence of bulls. The immediate hurdle is placed at the previous high of 25,078 while the downside seems to be protected at 24,870", he said.

Sensex, Nifty surge on rally in US markets, foreign fund inflows

<keyword id="19997865" type="General" weightage="20" keywordseo="kia" source="keywords">Kia</keyword> India on Friday said it is voluntarily recalling 4,358 units of a petrol variant of its mid-sized sports utility vehicle <keyword id="20037256" type="General" weightage="20" keywordseo="seltos" source="keywords">Seltos</keyword> to replace the electronic oil pump controller. The company is recalling Smartstream G1.5 Petrol Seltos with IVT transmission, manufactured between February 28 and July 13, 2023, the South Korean automaker said in a statement. The recall has been prompted by a potential error in the electronic oil pump controller, which may impact the performance of the electronic oil pump in the specified transmission variant, it added. The company said it has informed the Ministry of Road Transport &amp; Highways (MoRTH) about the voluntary recall initiative. Since the safety of car owners is a top priority, the company is proactively replacing the electronic oil pump controller in the affected units for a seamless ownership experience, the statement said. The automaker will directly reach out to the owners of the vehicles concerned to update them about the voluntary recall. Kia sells models, including Seltos, Sonet and Carens, in the Indian market. SEE ALSO:<a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-add-subscribers-as-vis-subscriber-base-continues-to-decline/articleshow/107934565.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-add-subscribers-as-vis-subscriber-base-continues-to-decline/articleshow/107934565.cms" target="_blank">Reliance Jio and Airtel add subscribers as Vi’s subscriber base continues to decline</a><a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-neo-9-pro-vs-oneplus-12r-which-mid-range-phone-should-you-buy/slidelist/107938249.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-neo-9-pro-vs-oneplus-12r-which-mid-range-phone-should-you-buy/slidelist/107938249.cms" target="_blank">iQOO Neo 9 Pro vs OnePlus 12R – which mid-range phone should you buy?</a><a href="https://www.businessinsider.in/business/auto/news/kawasaki-ninja-500-sports-bike-launched-in-india-at-5-24-lakh/slidelist/107916430.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/kawasaki-ninja-500-sports-bike-launched-in-india-at-5-24-lakh/slidelist/107916430.cms" target="_blank">Kawasaki Ninja 500 sports bike launched in India at ₹5.24 lakh</a>

You Searched For "Reliance oil" and got 12 results

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