The management believe that new infrastructure project orders will start gaining momentum, although it has been a subdued start from Q1 and during the reported quarter.

Bhatia highlighted inconsistencies in the declared net worth of Priyanka Gandhi’s husband, Robert Vadra, pointing out that it appears significantly undervalued compared to pending tax demands from the Income Tax Department. These claims have intensified the ongoing political rivalry, with the BJP calling for greater transparency and accountability from the Congress party.

The dollar index is trading slightly lower at 104.05, off previous day high of 104.41 although the index continues to stay heavily bid tracking US treasury yields that are riding high as volatility stays elevated ahead of US elections. Reduced expectations that Federal Reserve will go ahead with aggressive rate cuts as observed earlier is keeping momentum for the greenback high. Meanwhile, the Federal Reserves latest Beige Book survey of conditions across the country continued to paint a weak picture, with nine out of 12 regional district banks reporting flat or a slight decline in activity. Most districts reported declining manufacturing activity and consumers were reported to be on the hunt for bargains. According to the latest Beige Book, employment did increase slightly and layoffs remained limited. Wages continued to rise at a modest to moderate pace. The US dollar that measures the greenback against a basket of currencies, however, continues to hover around a three-month high. .

Diffusion Engineers Ltd, Johnson Controls-Hitachi Air Condition. India Ltd, Huhtamaki India Ltd and Poojawestern Metaliks Ltd are among the other losers in the BSE’s ‘B’ group today, 24 October 2024.