Moneycontrol Daily: Your Essential 7

The Union Cabinet on August 16 approved three major metro rail projects in Karnataka and Maharashtra, totaling approximately Rs 30,765 crore. This includes two corridors for Bangalore Metro Rail Project Phase-3, costing Rs 15,611 crore, with completion expected by 2029. Additionally, the Thane integral Ring Metro Rail Project was approved at Rs 12,200 crore. Read more here

Today
Indonesian, Afghanistan, Gabon Independence Day
Vinesh Phogat to return to India
Expanded new Terminal 1 of Delhi Airport to resume operations
Around 1 crore women to receive Ladki Bahin stipend in Maha
Kolkata doctor rape-murder: IMA announces nationwide withdrawal of services by doctors
Tomorrow
EAM Jaishankar to visit Kuwait
Jharkhand CM Hemant Soren to release first installment of 'Maiya Yojana'
Mamata Banerjee to lead protest over Kolkata rape
US Consulate General to host ‘Study in the US’ fair in Bengaluru

The Nifty 50 strongly closed above the 24,500 mark after showing a decisive breakout from the upper end of its consolidation range on August 16, rising by 1.7 percent due to positive global cues and a healthy rally in sectors such as technology, banking & financial services, auto, and FMCG. The index had been trading in the range of 23,900-24,500 for the last eight sessions, and it not only closed above the 50 percent Fibonacci retracement level (24,486), taken from the record high of July 4 to the low of August 5, but also climbed above all key moving averages as well as the middle band of the Bollinger Band. Read more here

DSP Mutual Fund, India's 10th largest AMC, has launched the first mutual fund based on the Nifty Top 10 Equal Weight Index, which tracks the top 10 Nifty 50 companies in equal weightages. The fund has two variants: an index fund and an ETF. The NFOs for these funds are open from August 16 to August 30. These funds will have the fewest stocks among diversified equity funds, with only 10 stocks. Read more here

Invest or repay the loan first? – this is one ever-present dilemma most borrowers have, especially young ones. If you were to ask people generally, they would tell you to pay off your loans first. Whether it is right or wrong or something in between. Read here

Parth Jindal-led JSW Cement, part of the infra to metals conglomerate JSW Group, is likely to file draft papers with SEBI shortly to raise up to Rs 4,000 crore via an initial public offer (IPO), multiple industry sources in the know told Moneycontrol. Moneycontrol was the first to report the listing plans of JSW Cement on January 10. The market debut would be the first major IPO in the sector since the Rs 5,000 crore initial share sale of Nirma group-backed Nuvoco Vistas in August 2021. Read details here

Both folding smartphones come with flagship-grade hardware and have loads of neat software features. Here’s how these two smartphones compare.