Equity indices rise on firm global cues; banking, auto stocks lead
Mumbai, July 10 : The key Indian equity indices traded in the green on Tuesday afternoon supported the broadly positive global markets.
According to market observers, healthy buying activity was witnessed in the banking, auto and metal indices.
At 12.15 p.m., the broader Nifty50 of the National Stock Exchange (NSE) traded at 10,928.25 points -- higher by 75.35 points or 0.69 per cent -- from its previous close of 10,852.90 points
The barometer 30-scrip Sensitive Index (Sensex), which had opened at 36,068.27 points, traded at 36,187.83 points (12.15 p.m.) - up by 253.11 points or 0.70 per cent -- from its previous session's close of 35,934.72 points.
The Sensex has so far touched a high of 36,195.46 points and a low of 36,019.63 points during the intra-day trade. The BSE market breadth was bullish with 1,577 advances and 741 declines.
The top gainers on the Sensex were Bajaj Auto, Reliance Industries, Tata Steel, Axis Bank and Adani Ports whereas Kotak Mahindra Bank, Sun Pharma, Larsen and Toubro (L&T), Hindustan Unilever and Mahindra nad Mahindra (M&M)were the losers.
On the NSE, Hindalco Industries, Bajaj Auto and Tata Steel were the highest gainers while Kotak Mahindra Bank, Hindustan Petroleum and Gail lost the most.
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K'taka govt, Taiwan's Allegiance Group sign MoU to establish industrial technology innovation park
Bengaluru (PTI): Karnataka government on Friday signed an MoU with Allegiance International Co Ltd of Taiwan to establish an Indo-Taiwan Industrial Technology Innovation Park (ITIP) in the state, with a proposed investment of around Rs 1,000 crore.
The MoU was signed by Rahul Sharanappa Sankanur, Director, Department of Electronics, IT, BT and Lawrence Chen, VP, Allegiance Group in the presence of Chief Minister Siddaramaiah, Minister for Electronics, IT & BT Priyank Kharge, and senior officials.
The project will be undertaken by the Allegiance Group with a proposed investment of around Rs 1,000 crore, leading to the creation of about 800 direct jobs via the companies setting up operations in ITIP over a period of 5 years, the IT&BT Minister's office said in a statement.
The ITIP will serve as a dedicated hub for Taiwanese companies in electronics and semiconductors, fostering advanced manufacturing, R&D, and innovation. This collaboration aims to strengthen Karnataka's position as India's leading destination for Electronics System Design and Manufacturing (ESDM) and accelerate the growth of the semiconductor ecosystem in the state.
Key highlights of the MoU include establishment of a world-class industrial park to house Taiwanese firms in electronics and semiconductor sectors; development of a robust supply chain ecosystem for components, PCBs, and chip design; creation of high-value jobs and skill development programmes in collaboration with academic institutions; and promotion of technology transfer and global best practices to enhance India's competitiveness in electronics manufacturing.
CM Siddaramaiah said this partnership marks a significant step towards realising Karnataka's vision of becoming a global hub for electronics and semiconductor innovation.
"The ITIP will attract cutting-edge technology and investments, creating opportunities for our youth and strengthening India's position in the global value chain," he said.
Minister Priyank Kharge said Karnataka has led India's technology revolution and continues to dominate in innovation, deep-tech talent, and semiconductor design.
"This partnership will accelerate our efforts to build a robust electronics and semiconductor ecosystem. We are committed to creating a level playing field and ensuring that Karnataka remains the preferred destination for global investors in advanced technologies," he said.
Lawrence Chen said, "We are excited to collaborate with Karnataka, a state known for its technology leadership. The ITIP will be a catalyst for Taiwanese companies to expand in India and contribute to the growth of the semiconductor and electronics ecosystem."
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