Stock Market Ends in the Red
The Sensex and Nifty 50 both closed lower on Thursday, with shares of major companies like Reliance Industries and Bharti Airtel contributing to the decline. The Sensex fell by 151 points to 82,201.16, while the Nifty 50 dipped by 54 points to 25,145.10. However, the mid and small-cap segments experienced gains.
Reliance Announces Bonus Issue
Reliance Industries’ board of directors approved a bonus issue in a 1:1 ratio on Thursday. This means shareholders will receive one bonus share for every share they hold. The board also approved an increase in the company’s authorized share capital from ₹15,000 crore to ₹50,000 crore. The record date for the bonus issue will be announced separately.
Yunus vs Hasina
Muhammad Yunus, the interim government chief of Bangladesh, asserted on Thursday that ousted Prime Minister Sheikh Hasina must remain silent while in India, until Bangladesh requests her extradition. This statement seems to be a response to Hasina’s August 13 statement, where she demanded “justice” and called for an investigation and punishment for those involved in recent “terror acts”, killings, and vandalism. This was the only statement made by Hasina after fleeing the country.
“If India wants to keep her until the time Bangladesh [the government] wants her back, the condition would be that she has to keep quiet. She is there in India, and at times, she is talking, which is problematic. Had she been quiet, we would have forgotten it; people would have also forgotten it as she would have been in her own world. But sitting in India, she is speaking and giving instructions. No one likes it,” Yunus told PTI.
HUL Copyright Case
The Bombay High Court granted temporary relief to Hindustan Unilever (HUL) in a copyright infringement case against Abbott Laboratories on Thursday. HUL had filed a petition seeking an injunction against Abbott for allegedly infringing and denigrating its product – Horlicks Diabetes Plus.
France Gets New PM
Former Brexit negotiator Michel Barnier was appointed as the new Prime Minister of France on Thursday, following weeks of uncertainty and debate. Barnier now faces the challenging task of managing crucial finance bills and forming “a unifying government in the service of the country”. At 73 years old, Barnier becomes the oldest premier in the history of modern France. He negotiated the EU’s talks with Britain over its exit from the union from 2016 to 2021. Prior to that, the conservative politician held various roles within the French government.
Boss Packaging Solutions IPO Row
The recent Boss Packaging IPO has sparked concerns about market manipulation and unrealistic valuations following its overwhelming oversubscription. The packaging machine manufacturing company saw bids totaling a staggering ₹1,073 crore (with a modest issue size of ₹8.41 crore), resulting in the IPO being oversubscribed 135 times. However, the company’s financials paint a less impressive picture. Photos of its dilapidated office building, taken from Google Street View, have gone viral on social media platforms, fueling criticism from users.
Sebi Employees Protest
Securities and Exchange Board of India (SEBI) employees staged a silent protest on Thursday against the regulatory body, following a controversial statement. SEBI had angered its staff after claiming that some employees were being misled by ‘external forces’. The protesters, gathered outside the SEBI headquarters in Mumbai, demanded the withdrawal of this statement and the resignation of SEBI chief Madhabi Puri Buch.
Kolkata Rape-Murder Case
The outrage over the rape and murder of a Kolkata doctor continues on Thursday, with new details coming to light. Sandip Ghosh, the former principal of RG Kar Medical College, reportedly ordered renovations near the crime scene a day after the incident. A letter dated August 10, allegedly signed by Ghosh, requested “repair/renovation/reconstruction of on-duty doctors’ rooms along with separate attached toilets in all departments of RGKMC&H, Kolkata on an urgent basis.” The BJP claims that this now-viral letter proves that the Mamata Banerjee-led West Bengal government, as well as the hospital, lied about when renovations began near the crime scene. “This is explosive. Yet another piece of evidence, which establishes that Dr Sandip Ghosh, now arrested, disgraced former Principal of RG Kar Medical College and Hospital, ordered repair/renovation of toilet, near the Seminar Room (scene of crime) on 10th Aug, a day after the young lady doctor was brutally raped and murdered (she was killed on the intervening night of August 8th/9th). It means the claim of renovation starting prior to the date of crime was an OUTRIGHT LIE. The WB Govt and the hospital LIED. Kolkata Police even filed complaints against those, who shared the video of the broken wall,” wrote Amit Malviya on X.
