Business
Benchmark Indices Rise by 1.8%; All Sectors, Except FMCG, Close in the Green
During the session, the Nifty reached a high of 23,762.75 and a low of 23,423.15, while the Sensex also demonstrated similar momentum, trading within a range of 78,658.59 to 77,402.37.
On the sectoral front, all indices except for FMCG ended the day in positive territory, with Nifty PSU Bank, Infrastructure, Energy, and Oil & Gas all registering gains of 2% each. The Nifty Midcap index saw a rise of 1.6%, and the Smallcap index increased by 1%.
The Indian rupee appreciated by 12 paise, closing at 87.07 per dollar compared to Monday’s rate of 87.19. Notable gainers on the Nifty included Shriram Finance (5.60%), Larsen & Toubro (4.56%), Bharat Electronics (3.78%), Adani Ports & Special Economic Zone (3.71%), and Indusind Bank (3.40%). Conversely, the laggards were Trent (6.27%), Britannia Industries (1.51%), Hero Motocorp (1.16%), Nestle India (0.76%), and Eicher Motors (0.62%).
The Bank Nifty closed at 49,210.55 after reaching an intraday high of 50,206.6 and a low of 49,482.5. Stocks like Bajaj Finance, Mahindra & Mahindra (M&M), UPL, and SRF hit their 52-week highs on the BSE.
Among individual stocks, Divi’s Laboratories saw its shares surge over 5% as investors responded positively to the company’s impressive earnings results for the December quarter. Additionally, Godrej Properties reported a remarkable 163% increase in consolidated net profit, reaching Rs 163 crore for the quarter ending December 31, and shares of Larsen & Toubro jumped nearly 5%.
Meanwhile, the FMCG sector continued its downward trend for the second consecutive day, countering the initial positive reaction following the Budget announcement. United Breweries dropped by 2.91%, while Godrej Consumer Products fell nearly 2%. ITC Hotels and Colgate experienced slight declines of 0.011% and 0.38%, respectively.
Overall, market sentiment remained optimistic as investors eagerly anticipated the Reserve Bank of India’s bi-monthly policy announcement scheduled for Friday.
Mumbai: The Reserve Bank of India (RBI) has decided to close its special forex swap facility for fresh FCNR deposits early.
The facility will now close on August 31, the RBI said on Friday.
The central bank said the decision was taken after receiving an encouraging response. The facility has attracted $52.3 billion through fresh foreign currency deposits.
Banks can continue to undertake swaps with the RBI against FCNR deposits raised under the facility until September 11.
Meanwhile, the schemes for External Commercial Borrowings and Overseas Foreign Currency Borrowings will remain open until December 31, 2026.
The RBI launched the special US dollar-rupee forex swap facility on June 8. It allowed banks to raise fresh three-to-five-year FCNR deposits.
Banks could then swap these deposits with the RBI at a concessional rate. The facility effectively covered the entire hedging cost for banks.
The strong response to the scheme led the RBI to bring the facility to an early close.
Moodbidri: A dream that began in the rural area of Niddodi in Moodbidri has now gained national recognition. Leksa Lighting Technologies Pvt. Ltd., founded by Ronald Sylvan D’Souza, has been recognised as one of India’s Top 100 MSME companies.
The prestigious national recognition was presented by the MSME Udyog Foundation at a ceremony held in New Delhi on August 8, 2026.
Ronald Sylvan D’Souza started his entrepreneurial journey from a humble background. Through hard work, discipline and continuous efforts, he built Leksa Lighting Technologies into a recognised lighting technology company.
The company has focused on quality, technological innovation and indigenous manufacturing. Research and development have also played an important role in its growth.
Leksa Lighting has adopted Japanese work practices to improve its manufacturing and operational standards. The company has also worked towards developing quality lighting solutions in India.
What began as a dream in rural Karnataka has now reached different parts of the country. The company is also making its presence felt in international markets.
Speaking about the recognition, Ronald Sylvan D’Souza said the award was not an individual achievement. He credited the entire Leksa team, customers, business partners, family members and everyone who supported the company.
He said he was proud and happy to see a dream that began in Niddodi and Moodbidri receive recognition at the national level.
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The achievement highlights the potential of rural entrepreneurs. It also shows that determination, discipline and consistent hard work can help a business from a rural area achieve success on a national platform.
Leksa Lighting Technologies’ journey stands as an example of how a local dream can grow into a nationally recognised enterprise.
New Delhi: Buying a new vehicle is set to become more expensive from August 1, adding to the financial burden on consumers. Several automobile manufacturers have announced a price hike due to rising production costs.
The increase is mainly driven by higher prices of raw materials and components. The cost of steel, aluminium, rubber, plastic, electronic chips, batteries, and spare parts has gone up in recent months. Global market changes caused by ongoing conflicts and inflation have also increased manufacturing expenses.
As a result, vehicle companies have decided to raise the prices of new models. Customers planning to purchase a new vehicle are likely to pay more from August 1.
The price hike is also expected to affect the travel and transport industry. Travel agencies and tour operators say buying new cars, SUVs, and other passenger vehicles will become more expensive.
Operators have already been facing higher expenses due to increased fuel prices and toll charges. With the additional cost of new vehicles, many travel agencies are preparing to revise their rental charges.
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The Karnataka Travels Association has indicated that travel fares may be increased to manage the rising operating costs. Passengers may have to pay more for each trip if the revised rates are implemented.
Meanwhile, several automobile manufacturers have already published details of the upcoming price increase on their official websites. Consumers planning to buy a new vehicle may consider making their purchase before the revised prices come into effect on August 1.
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