Evening brief: PM Modi's visit to Ayodhya; Ratan Tata's FirstCry share sale in IPO, and all the latest news
A shortlist of the biggest headlines, recommended stories, and a special collection of news items you should check out.
Prime Minister Narendra Modi is set to lay the foundation stone for a new greenfield township in Ayodhya, a project estimated at over ₹2180 crore. As per an official government statement, he'll commence the inauguration of the railway station at 11.15 am, marking the launch of new Amrit Bharat and Vande Bharat trains. Additionally, several other railway initiatives will be dedicated to the nation. Following this, at 12.15 pm, PM Modi is scheduled to inaugurate the recently constructed Ayodhya Airport. Subsequently, around 1 pm, he will take part in a public event where he'll unveil, dedicate, and lay the groundwork for multiple development ventures valued at more than ₹15,700 crore in the state. Dig deeper
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Ratan Tata, who initially put in ₹66 lakh for a 0.02% stake in FirstCry, is planning to divest all 77,900 shares at an average price of ₹84.72 per share, as outlined in the draft red herring prospectus submitted to SEBI on Thursday. Brainbees, the parent entity of the online retailer, aims to issue fresh shares totaling ₹1,816 crore, while existing investors intend to sell off 54.39 million shares through Offer For Sale, as detailed in the DRHP. Key sellers in the OFS include SoftBank's SVF Frog (Cayman) with 20.3 million shares, followed by Mahindra & Mahindra with 2.8 million shares, PI Opportunities Fund-1 with 8.6 million shares, TPG Growth V SF Markets Pte. with 3.9 million shares, and NewQuest Asia Investments with 3 million shares. Dig deeper
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Latest News
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India News
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Global Matters
Pakistan's election commission has approved the nomination of former Prime Minister Nawaz Sharif for the 2024 national elections, according to ARY News. This indicates that no objections have been lodged against the 73-year-old Nawaz Sharif's candidacy. He will now run for office in both Lahore and Mansahra city of Khyber Pakhtunkhwa. His younger brother and former premier, Shehbaz Sharif, confidently asserted that Nawaz Sharif is poised to become Pakistan's Prime Minister for an unprecedented fourth term following the general election in February. “Nawaz Sharif is going to the PM for the fourth time by the will of God after (Feb 8, 2024) polls,” Shehbaz Sharif said, adding, “We have made Pakistan economically strong again under the leadership of Nawaz Sharif.” Dig deeper
Entertainment News
Vijayakanth’s death has left a void that cannot be filled, state fans and celebs alike on social media. The actor who passed away at age 71 on Thursday morning was known not just for his philanthropy, but for also encouraging new talent in Tamil cinema. Actor Sonu Sood is one of the many who got a kickstart in the film industry thanks to him. Talking to Hindustan Times, Sonu reminisces about his debut film, his association with the late actor-politician and more. Dig deeper
Sports News
Former India head coach Ravi Shastri criticised India's strategy, disapproving of starting the second session of Day 2 with Shardul Thakur and Prasidh Krishna instead of Jasprit Bumrah and Mohammed Siraj. Meanwhile, cricket legend Sunil Gavaskar took aim at the body language displayed by the Indian players during the morning session of Day 3 in the first Test against South Africa. Gavaskar described India's demeanor and performance in the initial hour at Supersport Park in Centurion on Thursday as "lackluster," urging them to shake off this sluggishness promptly. Although India initially began with Bumrah and Siraj, when captain Rohit Sharma withdrew them from the attack to conserve them for the second new ball, it seemed to open the floodgates. Dig deeper