Business News Update; RUV350 Electric Scooter Price | Wheat Stock-Limit | Auction of 5G spectrum worth ₹96,318 crore begins: Market hits high of ₹78,164, India’s first riders utility vehicle launches RUV350 e-scooter

Yesterday’s big news was related to 5G spectrum. The auction of 5G spectrum started on Tuesday (June 25). Three big telecom companies of the country are participating in the auction. On the first day, telecom operators have shown interest in four spectrum bands – 900 MHz, 1800 MHz, 2100 MHz and 2500 MHz.

At the same time, the stock market made a new all-time high. During trading, Sensex touched the level of 78,164 and Nifty 23,754. After this, the Sensex closed at the level of 78,053 with a gain of 712 points.

Before tomorrow’s big news, today’s major events to keep an eye on…

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1. Auction of 5G spectrum worth ₹96,318 crore started: A total of 10,522 MHz spectrum will be auctioned, DoT hopes to get ₹10,000 crore

The auction of 5G spectrum started on Tuesday (June 25). Three big telecom companies of the country are participating in the auction. On the first day, telecom operators have shown interest in four spectrum bands – 900 MHz, 1800 MHz, 2100 MHz and 2500 MHz.

A total of 10,522 MHz spectrum will be auctioned in this auction. The online auction is going on from the War Room of DoT located in Sanchar Bhawan. Recently, IIFL Securities had said in a note that the auction may remain very sluggish due to low demand for spectrum and the soft stance of market leader Reliance Jio.

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2. Market made a high of 78,164: After this, Sensex rose by 712 points and closed at 78,053, Nifty also rose by 183 points.

The stock market has made a new all-time high on Tuesday (June 25). During trading, Sensex touched the level of 78,164 and Nifty 23,754. After this, the Sensex closed at the level of 78,053 with a gain of 712 points.

At the same time, Nifty also rose by 183 points. It closed at the level of 23,721. Today, banking and financial shares were the fastest growing. Shriram Finance shares rose by 3.95% and Axis Bank by 3.63%. There was pressure on metal, auto and energy shares.

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3. Bigos RUV350 electric scooter launched for ₹ 1.10 lakh: Company said – this is India’s first riders utility vehicle, claims range of 120km on full charge

Electric two-wheeler maker Bighaus on Tuesday (June 25) launched the electric scooter Bighaus RUV350 in the Indian market. The company is calling it India’s first rider utility vehicle. The company claims that the scooter can run 135 kilometers on full charge.

The company has introduced it in three variants 350i EX, 350 EX and 350 Max. Its starting ex-showroom price has been kept at Rs 1,09,999, which goes up to Rs 1,34,999 in the top variant 350Max. The scooter will compete with the Ola S1 Pro in India.

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4. Gautam Adani preparing to bring IPO of airport business: Plan to raise Rs 25 thousand crore through this, company has 7 airports

Adani Group is planning to list its another company Adani Airports in the stock market. According to media reports, the company wants to raise Rs 16 to 25 thousand crore through this. The company wants to complete the IPO process by the financial year 2027-28. Adani Airports is the largest airport operator company in the country.

Currently he has command of 7 airports in the country. These include Mumbai, Ahmedabad, Lucknow, Jaipur, Mangaluru, Guwahati and Thiruvananthapuram airports. Their management is with Adani Group only. After winning the bidding in 2019, the group has the responsibility of operating these airports for the next 50 years.

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5. IIFL’s focus on home loan after gold loan ban: CEO said – Average ticket size of 15.26 lakh, this is the largest affordable housing finance company.

Analysts feel that after the Reserve Bank of India’s ban on gold loans, IIFL Finance will have to focus on other business verticals in the times to come. On March 4, the Reserve Bank had ordered IIFL Finance to stop selling gold loans. RBI had found several irregularities in the gold loan portfolio of IIFL.

However, while announcing the March quarter (Q4) results for the financial year 2023-2024 i.e., FY24, Founder Nirmal Jain had said, the special audit has been completed, and now we are waiting for the review by RBI. Apart from gold, the company has home loans, microfinance, digital loans, loans against property, and construction and real estate loans…

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6. Tesla recalled about 12,000 Cybertrucks: There was a defect in their windshield wipers, this is the fourth time that the company has recalled the vehicles.

Elon Musk’s electric vehicle manufacturer Tesla has recalled 11,688 Cybertrucks in the US. America’s National Highway Traffic Safety Administration (NHTSA) said that the company has issued this recall to fix a defect in the windshield wipers of vehicles.

The auto safety regulator said, ‘The front windshield wiper motor controller may fail due to excessive voltage supply. The company’s service team will replace the wiper motor and install pressure sensitive tape on damaged vehicles or replace the missing trim free of cost.

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Banks will remain closed for 12 days in July: Apart from 4 Sundays and 2 Saturdays, there will be no work for 6 days at different places.

There will be no work in banks for 12 days in the month of July 2024. Due to various reasons in the country, banks will not function for 6 days at different places. Apart from these, banks will also remain closed on 4 Sundays and 2 Saturdays.

Banks will remain closed in most parts of the country on July 17 on the occasion of Muharram. Here we are telling you about the bank holidays for the month of June 2024, so that you can complete your bank work as per your convenience.

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Select mutual funds keeping 6 parameters in mind: Understand from the Executive Director of Motilal Oswal what are the risks related to investment.

Are you thinking of investing money in mutual funds and have a question in your mind that how to choose the right fund? So to know the answers to the risks related to investing in mutual funds, mutual fund selection and other questions, we spoke to Akhil Chaturvedi, Executive Director and Chief Business Officer of Motilal Oswal Asset Management Company.

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