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Yesterday’s big news was related to Jet Airways. Airline founder Naresh Goyal has been granted bail by the Bombay High Court on medical grounds in a money laundering case. E-commerce platforms Amazon and Flipkart can be interrogated on allegations of violation of foreign investment rules.
At the same time, in the second quarter of the financial year 2024-25, ONGC’s profit declined by 25% on an annual basis to Rs 10,273 crore. Here, Elon Musk’s company Star Link has agreed with the data security rules of the Government of India. The company wants to provide internet service in India.
Before tomorrow’s big news, today’s major events to keep an eye on…
- There may be a rise in the stock market on Tuesday.
- Retail inflation figures for the month of October will be released.
- Shares of Sagility India will be listed in the market.
- Mercedes-AMG C63 SE performance car will be launched.
- There has been no change in the prices of petrol and diesel.
Now read tomorrow’s big news…
1. Bail to Jet Airways founder Naresh Goyal: He is undergoing treatment for cancer, is in jail in a money laundering case.
The Bombay High Court on Monday granted bail to Jet Airways founder Naresh Goyal on medical grounds in the money laundering case. Goyal had sought bail citing medical and humanitarian reasons. Naresh is suffering from cancer and is undergoing treatment at Reliance Hospital.
Naresh was arrested on 1 September 2023. In May this year also, Naresh Goyal was granted interim medical bail for two months for the treatment of cancer. Naresh is lodged in Mumbai’s Arthur Road Jail. Naresh Goyal’s wife Anita Goyal died in Mumbai on 16 May this year. She was battling cancer for a long time.
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2. Government may interrogate Amazon-Flipkart: Allegation of violation of foreign investment rules, preparation to send notice after investigation
The government can issue summons to e-commerce platforms Amazon and Flipkart for questioning. Reuters quoted sources as saying that the government will issue summons to the officials of these companies as part of the investigation into violations of the Foreign Investment Law.
Recently, the Enforcement Directorate (ED) had raided some sellers associated with these companies. It is alleged that companies control the inventory (stock) through some selected sellers.
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3. ONGC’s profit declined by 25% to ₹ 10,273 crore: Revenue increased by 8% in the second quarter, company will give dividend of ₹ 6 per share.
Oil and Natural Gas Corporation (ONGC) has made a net profit (consolidated net profit) of Rs 10,273 crore in the second quarter of the financial year 2024-25. It has decreased by 25% on annual basis. In the same quarter a year ago, the company had registered a profit of Rs 13,703 crore.
ONGC’s consolidated operational revenue stood at Rs 1,58,329 crore (Rs 1.58 lakh crore) in the July-September quarter. It has increased by 7.25% on annual basis. In the same quarter a year ago (July-September 2023), the company had generated revenue of Rs 1,47,614 crore (Rs 1.48 lakh crore). The amount received from selling goods and services is called revenue.
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4. Starlink agrees with the government’s data security rules: The company will soon complete the license process, will provide satellite broadband services in India.
The process of licensing SpaceX owner Elon Musk’s Starlink in India may now move forward soon. According to reports, satellite broadband company Starlink has agreed to meet the government’s data localization and security rules.
According to media reports, in a meeting with the Telecom Department, Starlink has agreed to the rules related to data localization and security for satellite broadband services license, but the company has not yet filed the agreement.
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5. JSW Holdings shares surge 70% in 4 days: Today reached all-time high of ₹16,978.30 with upper circuit of 10%
Shares of JSW Holdings Limited have reached an all-time high of Rs 16,978.30 today i.e. on 11th November for the fourth consecutive trading day with an upper circuit of 10%. At this price the stock has increased 70% in four trading days. JSW Holdings shares have risen 177.74% in the last 6 months. At the same time, multibagger has given a return of 262.26% in one year.
However, Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) have placed the securities of JSW Holdings Limited under short term ASM (Additional Surveillance Measure) framework. To caution investors about high volatility in share prices, exchanges place shares in short term and long term ASM frameworks.
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Also see who were the top 10 richest people in the world yesterday…
Now know the condition of tomorrow’s stock market and gold and silver…
Know the latest price of petrol, diesel and gas cylinder…
