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Business

Indian Brokers Fuel $33 Billion Debt Surge with Leveraged Stock Bets

Indian stock brokers have significantly increased their borrowing in the short-term debt market, raising about 3.2 trillion rupees ($33 billion) through commercial paper issuance this year, up from 4% in 2021 to 21% in 2023. This surge supports investors' growing leveraged equity positions, which neared a record 1.6 trillion rupees by September 30. The trend is driven by margin trading growth and RBI restrictions on bank lending to proprietary trading firms.

Mint Markets·

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Business

Shipping Corporation of India Shares Rise 4% Amid Strong Market Rally

Shipping Corporation of India shares rose over 4% on NSE, opening at ₹272 and reaching an intraday high of ₹287.50 on October 5. The company targets a profit after tax of ₹2,000 crore this fiscal year and plans to expand its fleet by adding 30 vessels and 51 container vessels. The Sensex gained over 400 points, with Nifty trading above 22,500.

Mint Markets·

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Politics

CJP's Abhijeet Dipke Links BJP Wins to Election Commission Under CEC Gyanesh Kumar

Abhijeet Dipke, founder of CJP, alleged that the BJP's recent electoral victories in states where it previously struggled were connected to the Election Commission's functioning under Chief Election Commissioner Gyanesh Kumar. This claim comes amid controversy surrounding the SIR exercise, raising questions about the impartiality of the election process.

Zee News Hindi·

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World

Flydubai Co-Pilot Planned Terror Attack on Flight FZ1073

Hamam al-Hammami, co-pilot of Flydubai Flight FZ1073, planned a terrorist attack by attempting to crash the aircraft. He tried to incapacitate the captain mid-flight but was restrained by Israeli passengers, preventing disaster. Investigations revealed his prior radicalization and extremist links. Authorities continue probing his background and possible external influences.

Economic Times·

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Business

RBI Expected to Hike Interest Rate Amid Inflation Concerns

The Reserve Bank of India's Monetary Policy Committee will meet on Monday to decide on a key interest rate increase, likely by 25 basis points to 5.50%. Rising inflation, driven by high crude oil prices and poor agricultural output, has prompted many economists to support this rate hike. The decision will be announced on October 7.

Economic Times·

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World

West Bengal Lok Bhavan to Host First State-Level Essay Competition

West Bengal Lok Bhavan will organize its first state-level essay competition for school, college, and university students. Topics include 'Calcutta Massacre, 1946 – Causes and Consequences' for Classes X to XII and 'Direct Action Day by All India Muslim League – A Fatal Assault on Civilisational Bharat' for higher education students. Prizes range from ₹25,000 to ₹1 lakh, awarded separately for English and Bengali essays.

HT Education·

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