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Mint Midday Digest: Royal Enfield Hunter launch, Mukesh Ambani on green push and much more

Representative image (Photo: Bloomberg)

Paytm shares are attracting huge buying interest by stock market bulls today. After announcement of rise in revenue in Q1FY23 results on Saturday, Paytm share price today opened at par with its Friday close on NSE but soon buying started in the scrip that led to sharp rise in the counter leading to intraday high of 836.70 per share levels. Read more here

Hong Kong cuts Covid hotel quarantine to 3 days on arrivals

The new policy on quarantine during arrival in the state taking effect from Friday will reduce the mandatory hotel quarantine for overseas arrivals to three days from a week, in Hong Kong. Read more here

This US city will hold two-day '75 years of India's Independence' celebrations

The 75th anniversary of India's Independence will also be observed in Boston, where 32 countries will participate and will feature an airplane carrying a 220-feet US-India flag over the American city, according to news agency PTI. Read more here

Reliance Industries' green push to ‘outshine’ other businesses: Mukesh Ambani

Indian billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) will scale up investments in the green energy initiative that it recently announced to play a leading role in the world's transition to clean energy. Read more here

2022 Royal Enfield Hunter 350 priced at 1.49 lakh: Details on variants

Royal Enfield’s much awaited bike of the year Hunter 350 is officially launched in India. The cruiser’s fans are eager to know the price and specifications of the bike. It is noteworthy that the price of the 2022 Royal Enfield Hunter 350 begins at Rs. 1.49 lakh and it goes up to Rs. 1.68 lakh, ex-showroom. To know more details on price, one can visit the official website of Royal Enfield of their nearby automaker’s store. Read more here

'Cricket and India are inseparable': PM Modi praises CWG medal winners

PM Modi heaped praises on Commonwealth Games(CWG) 2022 medal winners in all sports from badminton to cricket. On the first ever Cricket medal at the CWG, he tweeted, ‘Cricket and India are inseparable. Our women's cricket team played excellent cricket throughout the CWG and they bring home the prestigious silver medal. Read more here

Wealth management startup Dezerv raises $21 million at $100 million valuation

Wealth tech platform, Dezerv Investments Pvt. Ltd., has raised $21 million in a Series A funding round led by technology venture capital investor, Accel Partners, taking its valuation to $100 million. Read more here

JEE-Main: 24 candidates score perfect 100; results of some withheld due to unfair means

The National Testing Agency (NTA) declared the Joint Entrance Examination Mains 2022 (JEE Mains 2022) result for session 2 exam today, August 8. Read more here

Mukesh Ambani draws ‘nil’ salary for 2nd consecutive year

For the second year in a row, Billionaire Mukesh Ambani voluntarily drew no salary from his flagship firm Reliance Industries in the last fiscal, in view of Covid-19 pandemic hitting the business and economy in the country, according to news agency PTI. Read more here

HDFC Bank hikes lending rates across tenures. Home loan to be costlier

HDFC Bank has hiked its Marginal Cost of Funds Based Lending Rate (MCLR) across all tenors for borrowers by 5-10 basis points (bps) with effect from today, 8 August 2022. One basis point is one-hundredth of a percentage point. Read more here

SBI investors still hopeful despite an unimpressive Q1

Shares of State Bank of India (SBI) were under pressure on Monday, falling 2.75% on the National Stock Exchange, in morning trade. The June quarter earnings (Q1FY23) performance of the country’s largest public sector lender was a mixed bag. Loan growth at 14.93% year-on-year was at a multi-quarter high in Q1, even so, SBI missed the Street’s earnings expectation and was hit by a one-time mark-to-market loss and weak net interest margin (NIM). Read more here

Nykaa shares are down 44% from life-time high. Should you buy after Q1 results?

Nykaa shares have ascended in early morning deals after announcing over 33 per cent rise in consolidate net profit in Q1FY23. Shares of FSN E-Commerce Ventures (Nykaa) today opened upside and went on to hit its intraday high of 1,473.65 apiece levels, logging near 2 per cent rise from its Friday close. However, the stock is still around 44 per cent lower from its life-time high of 2,573.70 on NSE. So, those positional investors who are looking for discounted buying after recent sell-off, they ight feel attracted to this internet stock. Read more here

Bulldozers raze Shrikant Tyagi's illegal encroachment in Noida, See videos

Days after self-proclaimed politician Shrikant Tyagi was booked for allegedly assaulting a woman, the bulldozers on Monday morning arrived outside Grand Omaxe in Noida's Sector 93 where the accused had abused and assaulted the woman, according to news agency ANI. Shrikant Tyagi identified himself as a BJP leader after the party distanced itself from him following the incident. Read more here

Despite being COVID-19 positive, this Australian all-rounder was allowed to play in final against India

Tahlia McGrath tested positive for COVID-19 and had minimal symptoms. The Australian all-rounder was given the go-ahead to compete in the championship game after consulting with health professionals, team, and match officials. That is what caused the throw to be delayed by almost ten minutes. Read more here

Flat prices in Vishakhapatnam, Coimbatore, Surat see higher rise vs metro cities: SBI Report

The housing prices have increased more in smaller towns and cities than in metros, according to SBI Research: Special Report on Emerging Trends in Residential Housing. It stated that many tier-2 cities including Vishakhapatnam, Guwahati, Raipur, Surat, Vadodara, Jaipur, Lucknow, Dehradun and tier-3 city Coimbatore have witnessed higher growth in housing prices. Read more here

India sees decline in daily Covid-19 cases, logs 16,167 new infections

India once again witnessed a marginal decline in daily Covid-19 cases on Monday, with the country recording 16,167 new infections in the past 24 hours, according to the Union Health Ministry data. With this, the active caseload of the country currently stands at 1,35,510. Read more here

MP, Rajasthan and Karnataka among top states to provide power subsidy

The state of Madhya Pradesh, Rajasthan and Karnataka are among top states providing highest power subsidy bill, accounting for 48,248 crore which is 36.4 percent. As per the Ministry data, as many as 27 states/UTs out of 36 are providing subsidised electricity to consumers. Read more here

Rakesh Jhunjhunwala portfolio: Experts see big upside in this tech stock

Nazara Technologies shares have remained under block building phase after climbing to its 52-week high in October 2021. The stock hit its 52-week low in June 2022 but after that it has bounced back strongly recording around 40 per cent upside from its 52-week lows in near two months. Read more here

Tom Alberg, early Amazon investor and board member, dies at 82

Tom Alberg, the co-founder of the venture capital firm Madrona Venture Group and an early investor in Amazon.com Inc., has died. He was 82. Alberg died Friday, according to a statement released by Madrona. Read more here

Earth's days mysteriously getting longer, and scientists don’t know why

Atomic clocks, combined with precise astronomical measurements, have revealed that the length of a day is suddenly getting longer, and scientists don’t know why. Read more here

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