Moneycontrol Selects: Top stories this afternoon

A round-up of the big stories

Here is a roundup of our most important stories this afternoon:

Titan acquires residual 27.18% stake in CaratLane for Rs 4,621 crore
Titan has agreed to buy the remaining 27.18 percent stake in online jewellery retailer CaratLane for Rs 4,621 crore in a deal that values the company at Rs 17,000 crore, according to regulatory filings. Read more.

Global stock managers on guard as China pain set to spread
Global stock managers are bracing for pain as China’s dramatic slowdown undermines the prospects for companies elsewhere that rely on the world’s second-largest economy. Here are more updates. 

A ‘techtonic’ shift: Why India is becoming a hub for GCCs
Insourcing has now become prominent, with companies choosing to either set up or expand their offices in India, a departure from when they primarily set up back offices here or cost was the driving factor. Read more.

Sowing of pulses continues to lag, but not to worry, says govt
With rains continuing to be deficient in line with IMD predictions for August, the sowing of pulses fell further, per data released by the Ministry of Agriculture. Here is a full report.

MC Selects

Solutions that succeed in India can be easily applied anywhere: PM Modi
Narendra Modi on Saturday said India is an ideal testing lab for solutions and underlined that the solutions that succeed in the country can be easily applied anywhere in the world. Read more.

More than 50 smallcaps give double digit return despite market fall
In the truncated week, Indian benchmark indices extended the fall in the fourth consecutive week as poor monsoon, rupee depreciation and elevated Indian inflation figures dampened the investors sentiment. However, on global front, spiking US bond, rising dollar, fears of a Fed rate hike and slowing demand in China weighed on investors. Here are more updates.

Stuck projects: Noida, Greater Noida authorities told to prepare report on financial implications, possible approaches to address issue
With the aim of taking corrective measures to resolve issues concerning builder dues and pending registries and to get stalled housing projects back on track, the Noida and Greater Noida authorities have been asked to prepare a detailed report on possible approaches that can be adopted in accordance with the recommendations of the Amitabh Kant committee. The report will also contain details about possible financial implications for the authorities if the recommendations of the Centre’s panel on rationalising interest rates on builder dues or giving a four-year moratorium are implemented by the state government, sources privy to the development said. Here is a full report.