The Economic Times

Houthis claim strikes on Saudi airports, energy facilities; Trump says, 'attack not acceptable'

The Rs 35 crore public issue was priced at Rs 82 per share at the upper end of the price band. It comprised a fresh issue of 42.67 lakh shares, with no offer-for-sale (OFS) component.

Congress leaders Rahul Gandhi and Mallikarjun Kharge intend to organize a protest after being denied a meeting. They sought a discussion with CJI Surya Kant regarding the Special Intensive Revision of electoral rolls and other demands. Gandhi has called for a March for Democracy to take place in the national capital. Kharge criticized the government's handling of protests and the alleged police crackdown on peaceful demonstrations.

As long as a stock's price remains above its 200-day moving average on the daily timeframe, it is generally interpreted as being in an overall uptrend.

Brent crude futures declined $1.42, or 1.36%, to $103.35 a barrel, while US West Texas Intermediate crude fell $1.42, or 1.60%, to $90.42 a barrel.

An FIR has been filed against Congress MLA Jignesh Mevani and seven others for hindering police activities. The incident occurred while questioning Congress candidate Yunus Parmar regarding threats made to a BJP campaigner. The complaint states that Mevani and his associates created a commotion inside Pethapur police station during the investigation. They are also accused of attempting to incite communal tensions during the local elections.

Gold prices showed little movement as early Asian trading commenced, with many awaiting US inflation data this week. Spot gold remained steady after reaching a one-week high on Friday, while US gold futures saw a slight increase. Key data to be released includes the Consumer Price Index and Producer Price Index reports on Wednesday and Thursday. Rising interest rates have impacted gold's attractiveness as an investment, amid ongoing economic concerns.

In response to the climbing oil prices and a declining rupee, the Reserve Bank of India has initiated fresh strategies aimed at economic stabilization. These measures involve hiking hedging expenses and curtailing speculative maneuvers among firms. Over the weekend, foreign banks adapted to these reforms to better serve their clients. Allowing oil companies to directly buy dollars is a notable step to relieve demand strains.

US President Donald Trump and Secretary of State Marco Rubio are contemplating the dismissal of Ambassador Kimberly Guilfoyle. Reports have surfaced alleging her involvement in questionable and possibly illegal conduct while serving in Greece. Rubio's frustration has increased due to the mounting allegations since last month. Key congressional Democrats have called for an investigation into Guilfoyle's actions and behavior.

Oil prices have increased amid worsening conflict in the Middle East, particularly involving Yemen's Houthis and Saudi Arabia. Brent crude futures saw a rise of 76 cents to reach $105.48 a barrel recently. Reports indicated that multiple tanker attacks have heightened concerns regarding oil supply chains in the region. Additionally, US President Donald Trump mentioned potential military involvement in support of Saudi Arabia on Saturday.

A federal judge ruled that President Donald Trump must cancel remaining television commercials funded by taxpayer money. The ads were challenged as an illegal use of funds for political propaganda, which violates federal law. The judge's restraining order prevents further development or airing of these advertisements during the order's duration. The Department of Homeland Security had used $20 million in appropriated funds for this ad campaign.

BP announced its withdrawal from the World Petroleum Council Energy Congress due to safety concerns in Riyadh. Missile attacks at the international airport resulted in fatalities and numerous injuries, prompting increased security measures. Despite BP's cancellation, the five-day energy conference continued as originally scheduled at a separate venue. Other major oil executives also reportedly withdrew from the event amid the ongoing unrest.

India's FMCG sector is poised for a substantial revenue boost in the upcoming September quarter, with growth projected in double digits. This rise is attributed to an increase in both product volume and strategic pricing tactics across diverse categories. However, the ongoing surge in raw material costs, particularly for items like sugar and edible oils, may exert pressure on profit margins.

Delhi weather today: Flight operations at Delhi Airport remained normal despite the heavy rain and thunderstorms affecting the national capital. The India Meteorological Department predicted adverse weather conditions, including waterlogging and possible traffic disruptions. Passengers were advised to check with their airlines for flight information and updates. Maximum temperatures are expected to stay between 31 and 35 degrees Celsius in the coming days.

A bipartisan group of seven US senators has questioned the legality of President Trump's diesel import deal with Russia. They highlight Congress's ban on Russian energy imports established in 2022 due to the Ukraine conflict. The senators argue that Trump's decision violates this law and failed to communicate with Congress. Concerns arise over the potential financial benefits to Russia amidst ongoing civilian casualties in Ukraine.

Vincent Mortier, the chief investment officer of Amundi, reflects on the current state of Indian equities. He believes the recent decline in the market is a temporary issue related to negative narratives. Mortier identifies several potential catalysts for investment in India, including geopolitical resolutions and currency stabilization. He also discusses the intricate capital gains tax system affecting foreign investors' participation.

One Indian national has died due to the recent attack at King Khalid International Airport in Riyadh. Three other Indian nationals remain in stable condition in intensive care after being injured in the incident. The Indian Embassy has assured support for the affected families and thanked Saudi authorities for their medical assistance. Yemen's Houthi forces have claimed responsibility for several attacks targeting Saudi airports this week.

Iran-US War latest: The head of Irans Supreme National Security Council says Tehran finds the latest response from the United States insufficient as efforts at negotiations to end the war and fully open the Strait of Hormuz limp along.

The Ministry of External Affairs condemned drone attacks on two commercial vessels in the Strait of Hormuz. MT Petro Dolphin and MT Valthera were involved in separate incidents, leaving two Indian seafarers missing. Search-and-rescue operations for the missing personnel are actively being coordinated by authorities in Oman. Concerns over maritime security in the region have been raised, following several attacks on vessels in recent days.

Indian companies may re-enter the bond market given recent central bank measures aimed at stabilizing the rupee. High overseas yields and increased hedging costs have limited borrowing options for these businesses. Analysts suggest that some companies could reconsider bond issuances previously canceled because of excessive yields. With rising bank borrowing costs, bonds may become more appealing for certain issuers seeking flexibility.

On Sunday, an attack on Riyadh's international airport led to one fatality and eleven injuries. This incident occurred following a prior strike claimed by the Houthis that caused numerous casualties. Saudi coalition forces reported intercepting multiple projectiles targeting various locations, revealing vulnerabilities in the kingdom's defense. The Saudi government has stated that air defenses are monitoring threats closely amid ongoing conflict.

Trade was thin with Japan markets shut and the US on a partial holiday ahead of the earnings season with major US banks kicking off on Tuesday.

With Indian mutual funds now holding 11.7% of domestic equities, they have overtaken foreign portfolio investors, whose share has plunged below 14% since May 2021. This emerging trend showcases the increasing influence of local investors, particularly in Nifty 500 companies. Moving forward, any revival in foreign investment will likely depend on corporate earnings bouncing back and navigating competitiveness in the broader Asian landscape.

On Friday, markets experienced a moment of reprieve as the Nifty index surged by 1.3%, buoyed by support from the IT sector. However, analysts anticipate that Indian stocks will tread carefully due to prevailing global economic uncertainties. Despite a decrease in the India VIX, suggesting lesser market anxiety, the actions of foreign and domestic investors were mixed. The rupee strengthened against the US dollar, aided by decreasing crude oil prices.

US Judge's decision caps days of controversy over the taxpayer-funded advertisements, which were aired in the final weeks before the midterm elections.

Indian equity markets showed a significant recovery driven by bargain buying and favorable global cues. The Nifty 50 and Sensex both closed higher, indicating improved investor sentiment. Notable companies reporting earnings include Canara Robeco Asset Management and Avenue Supermarts, among others. Banking stocks are expected to draw attention due to changes in cash reserve ratio requirements by the Reserve Bank of India.

Investors can look forward to an active primary market with six mainboard and two SME IPOs on the horizon. Zetwork Manufacturing is expected to head the list, seeking an impressive Rs 5,000 crore, followed by Bonfiglioli Transmission aiming for Rs 2,500 crore and Tonbo Imaging India with a target of Rs 1,500 crore. Supporting this momentum are HD Fire Protect, Fusion CX, and Medical Technologies.

Nifty's recent recovery has generated optimism, but a sustained close above key resistance is crucial for further gains. Analysts suggest a cautious approach with potential accumulation of certain stocks during dips. Key stocks for investment include Aurobindo Pharma and TCS, which display strong price momentum and resilience. Market participants are advised to monitor immediate support levels for Nifty and Bank Nifty.

As Polaris Smart Metering progresses to the next phase of its sale, several shortlisted bidders, such as Actis, JSW Energy, and Gemstar Infra, have wrapped up due diligence and are on the verge of submitting binding bids. The estimated value of this deal lies between 1,800 crore and 2,000 crore.

During the festive season, demand for premium goods has seen significant growth on e-commerce platforms. Sales have increased by 40% compared to last year, driven by consumers upgrading their purchases. Quick-commerce platforms have also experienced higher transaction values, particularly in urban areas. While mass-market demand has softened due to rising prices, premium products continue to perform well.

American mathematician Mary Tsingou Nenzel helped develop a landmark physics experiment at Los Alamos in 1955, but her contribution was reduced to a footnote. More than 50 years later, her role gained wider recognition when the experiment became known as the Fermi-Pasta-Ulam-Tsingou problem. She died at her Los Angeles home in August 2026.

Carlsberg India's operating consent for its Alwar brewery was revoked due to high particulate emissions. The brewery's pollution levels were reported to be eight times above the limit allowed. As a result, the company has been ordered to shut down the facility immediately. This closure could impact supplies in Rajasthan but occurs after peak summer season sales.

CEC Gyanesh Kumar's resignation complicates the Centre's plans for delimitation and restructuring of Lok Sabha constituencies. Opposition protests, particularly from DMK, BJD, BRS, and YSRCP, are raising concerns over the Election Commission's integrity. An alternative to expand the House would require a constitutional amendment that is politically challenging. The proposed Delimitation Bill, along with its commission structure, remains stalled due to lack of majority support.

Abhijeet Dipke criticized Delhi Police for contacting his parents about his arrest after his grandmother's death. He claimed the police's actions showed a lack of humanity and compassion during a difficult time. Protests erupted in Mumbai and Pune, with political leaders demanding the release of detained demonstrators. Aaditya Thackeray and Amit Thackeray confronted police vehicles to request the release of arrested protesters.

CJP leaders were recently released from detention and pledged to expand their protests nationwide. They accused the Modi government of creating an Emergency-like environment and suppressing dissent. The leaders highlighted the illegal detention and restrictions placed on their activities by authorities. Reports indicate that right-wing groups have targeted CJP protesters and assaulted students during recent demonstrations.

India has unveiled a new draft national steel policy targeting 604 million tonnes capacity by 2047. The initiative also aims to increase exports to 45 million tonnes in two decades. Measures will focus on reducing carbon emissions and promoting technology indigenisation in steel production. Infrastructure development will be emphasized alongside research, safety, and workforce improvements.

The Saudi civil aviation authority on Sunday announced an attack on Dammam airport in the kingdom's Eastern Province, in a statement released shortly after the Iran-aligned Houthis said they had targeted the airport.The attack on King Fahd International Airport in Dammam occured soon after a projectile struck a passenger terminal at the international airport in Riyadh.Also read: 1 Indian dead, 10 injured in Riyadh airport attack; Houthis claim responsibilityEarlier on Saturday, a missile had hit

India is proactively gathering insights on the trade hurdles faced by its services exporters in China, engaging with industry representatives to address concerns. The investigation encompasses aspects like licensing, data regulations, and the challenges faced by Indian professionals in movement. Despite a potential of $8.95 billion in services exports to China in 2024, there's room for improvement through better partnerships and streamlined regulations, especially in mutual recognition and certi

The Indian government is set to enhance GST reporting for imported services through e-invoicing. This expansion will affect businesses with an annual turnover exceeding 5 crore. Companies will need to modify their documentation processes to comply with the new regulations. Proposed changes aim to reduce mismatches between tax liabilities and input tax credits. The consultation on these changes is expected to begin shortly, with implementation likely in April 2027.

In 2026, American music singer Taylor Swift made headlines for her charitable contributions, including a $50,000 donation to an injured mother of three. She also made a $4 million education pledge and a combined $26 million charity donation with her husband Travis Kelce to 20 organisations across the United States.

DBS Bank CEO Tan Su Shan emphasized the strong demand for FCNR(B) deposits as investor confidence in India. She highlighted India's potential for foreign direct investment and its advantageous position in the artificial intelligence sector. Despite foreign net sales affecting the rupee, she remains optimistic about India's economic growth and digital infrastructure. Tan discussed the importance of promoting FDI and exports to stabilize currency levels.