Top News for August 30, 2024

Top News for August 30, 2024: The Supreme Court of India will examine curative petitions today from Bharti Airtel, Vodafone Idea, and other telecom companies regarding the Adjusted Gross Revenue (AGR) case. A three-judge bench led by Chief Justice DY Chandrachud will review these petitions at 1:30 p.m. in a closed hearing. The companies argue that the Department of Telecommunications (DoT) made significant errors in calculating AGR dues and imposed unfair penalties.

Prime Minister Modi's Visit to Maharashtra

Prime Minister Narendra Modi will visit Mumbai and Palghar in Maharashtra today. In Mumbai, he will speak at the Global Fintech Fest (GFF) held at the Jio World Convention Centre. The GFF is organized by several key financial and fintech organizations. Later, Modi will travel to Palghar to inaugurate and lay the foundation for various development projects at CIDCO ground.

Baazar Style Retail IPO Launch

Baazar Style Retail’s initial public offering (IPO) starts today and will be open until September 3. The company plans to raise Rs.834.68 crore through this offering. The IPO includes a fresh issue of 38 lakh shares worth Rs.148 crore and an offer for sale (OFS) of 1.8 crore shares valued at Rs.686.68 crore. Axis Capital, Intensive Fiscal Services, and JM Financial are managing the issue, with Link Intime India Private Ltd as the registrar.

Other Notable Events

• The final updated electoral rolls for Maharashtra are expected to be published today.
• The last date for withdrawing candidatures for the Jammu and Kashmir Assembly elections is today.
• The Reserve Bank of India's town hall meeting will take place in Indore today.
• Bangladesh may sign an international convention on enforced disappearances.
• SpaceX has delayed the Polaris Dawn astronaut launch due to bad weather.
• The film "Gangs of Wasseypur" will be re-released in cinemas today.

India’s GDP Data Release

India will release its GDP data for the April-June quarter of fiscal year 2023-24 today. According to a recent poll, the GDP growth rate may have slowed to 6.85% in this period.

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The Reserve Bank of India (RBI) also recently noted that inflation might rise due to supply disruptions from adverse weather, a potential El Niño event, and global food price increases due to geopolitical tensions.