Unemployment rate, loan recovery, & more

Markets rose over 1.60% today.

All sectors were up. IT and realty stocks rose the most.

Global markets: US and Asian markets were up. European markets saw a mixed trend.

India’s urban unemployment rate stood at 6.6% in April to June 2024 vs 6.7% in the previous quarter.

India’s foreign exchange reserves decreased by $4.8 billion in a week. Forex reserves stood at $670.12 billion for the week that ended on 9 August.

Recovery from defaulters under the Insolvency and Bankruptcy Code rose to 31.12% in the April-June quarter from 25% in the previous 3 months. However, it was lower than the long-term rate of 32.06%.

ISRO is targeting to launch the first mission of Gaganyaan project by December: reports.

Germany's government has reduced the visa processing time for Indian foreign skilled workers. Waiting period for long-term visas has been shortened to 2 weeks from 9 months earlier.

Kempegowda Airport (Bangalore) has become the first airport in Asia to receive level five accreditation. The airport has reduced Scope 1 and 2 greenhouse gas emissions by 95.6%.

JSW Group: JSW Cement has reportedly filed for an IPO.

Escorts Kubota: company has submitted ‘investment intent’ to the UP government. Around Rs 4,500 cr of investment to be done in phases.

Adani Power: company will continue to supply power to Bangladesh from its Jharkhand plant.

Aurobindo Pharma: subsidiary Eugia Pharma Specialities has received a warning letter from the US FDA related to its formulations manufacturing unit in Telangana.

M&M: launched a 5-door SUV ‘Thar ROXX’.