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MapmyIndia shares jump 8% after Railway Minister's tweet favouring Google Maps rival

6 days 19 hours ago
Shares of CE Info Systems, which runs MapmyIndia, on Monday jumped over 8% to Rs 1,847 on BSE after Railway Minister Ashwini Vaishnaw tried the Swadeshi navigation application Mappls by MapmyIndia in his car and appreciated its features, urging people to try the app. He also said the Indian Railways will soon sign a memorandum of understanding (MoU) with the Google Maps competitor.In a social media post, the minister shared his experience with the indigenous mapping platform and highlighted some of its advanced features after a meeting with Mappls team.In a video, he pointed out the apps’ ability to provide three-dimensional junction views or previews of flyovers, underpasses, and roundabouts, and real-time driving alerts for speed limits, accident-prone spots, sharp curves, speed breakers, traffic signals, and traffic camera locations.The app enables users to calculate the cost of trips based on the vehicle and fuel type, including tolls for specific journeys, and is integrated with the Fastag Annual Pass. It also helps users stay within speed limits and avoid risky patches.The other key features of completely Made in India, smart navigation app Mappls include the 3D Junction Views, in which the user gets three-dimensional previews of flyovers, underpasses, and roundabouts which Minister Vaishnaw praised.MapmyIndia had last week told ET that it had urged the government to mandate pre-installation of Mappls on smartphones produced under the production-linked incentive (PLI) scheme.The company supports nearly 10 government departments, including DIGIPIN, police departments nationwide, and tax agencies such as the Goods and Services Tax Network (GSTN) and the Central Board of Direct Taxes (CBDT), with data for geospatial analysis.However, government business represents less than 20% of MapmyIndia’s Rs 463 crore annual revenue.

Indian bonds likely to gain as states trim debt supply, US Treasuries rally

6 days 20 hours ago
Indian government bonds are expected to rise in early deals on Monday, buoyed by lower-than-expected weekly state debt supply later this week and a surge in U.S. Treasuries. The yield on the benchmark 10-year note is seen moving between 6.48% and 6.54%, a trader with a private bank said. It closed at 6.5370% on Friday. Bond yields move inversely to prices. Indian states are set to sell bonds worth 120 billion rupees ($1.35 billion) on Tuesday, which is lower than market expectations, traders said. Also aiding sentiment is a drop in U.S. Treasury yields on Friday to multi-week lows as investors moved to a safe haven following President Donald Trump's threats to impose a "massive" increase in tariffs on Chinese imports. Movement in U.S. sovereign debt yields had been in a holding pattern in recent days as a government shutdown, now in its tenth day, has halted the production of crucial economic indicators. Domestically, traders are hoping the 10-year yield will fall below the stubborn 6.49% level in intraday trade or at least sustain these levels at close. "Bond yields will test lows, with the benchmark bond yield revisiting at least 6.49% if not lower. The real test for the bulls would be a further break from that level," a trader with a private bank said. RATES India's overnight index swaps (OIS) are expected to fall in early trading, tracking a dip in U.S. Treasury yields. The one-year OIS rate closed at 5.44% on Friday, while the two-year rate ended at 5.38%. The five-year rate was at 5.6525%. KEY INDICATORS: ** Benchmark Brent crude futures were up 1.64% at $63.76 per barrel, after falling 3.82% in the previous session ** Ten-year U.S. Treasury yield at 4.0510%; two-year yield at 3.5220%.

Trump eyes Afghanistan-Pakistan conflict

6 days 21 hours ago
As the two-year old Israel-Hamas war is expected to come to an official close on Monday, US President Donald Trump expressed an intention to focus his mediation efforts on the enduring border conflict between Pakistan and Afghanistan following his diplomatic travel to the Middle East. Speaking to reporters aboard Air Force One on Sunday (local time), the President stated he believes he can bring an end to the protracted dispute, citing his success in other global flashpoints.The announcement came as Trump discussed the recently brokered Gaza ceasefire, which he claimed marked the eighth conflict he has resolved.Also Read | 'War is over' in Gaza, Trump says on way to Middle East "This will be my eighth war that I have solved, and I hear there is a war now going on between Pakistan and Afghanistan," Trump said. "I said, I'll have to wait till I get back. I am doing another one. Because I am good at solving wars." His remarks position the President as a leading figure in resolving complex international disputes.Claiming creditThe Republican leader elaborated on his record, reflecting on previous efforts to de-escalate tensions, including between India and Pakistan. He asserted that conflicts lasting decades were settled relatively quickly during his tenure."Think about India, Pakistan. Think about some of the wars that were going on for years," he remarked. "We had one going for 31, one going for 32, one going for 37 years, with millions of people being killed in every country and I got every one of those done, for the most part, within a day. It's pretty good," he stated.Addressing the subject of the Nobel Peace Prize, which was awarded to Venezuelan opposition leader Maria Corina Machado, Trump insisted his peace initiatives were motivated by humanitarian concerns. "I did not do this for the Nobel. I did this for saving lives," he stated, adding it was an "honour" to have saved "millions of lives."However, he recounted a personal call with the laureate, claiming she recognized his role. "The person who got the Nobel Prize called me today and said, 'I am accepting this in honour of you, because you really deserved it'... I've been helping her along the way," Trump said.List of resolved disputesTrump detailed a list of other international disputes he claimed were resolved under his leadership: Armenia and Azerbaijan, Kosovo and Serbia, Israel and Iran, Egypt and Ethiopia, and Rwanda and the Congo. He linked this extensive record to the ongoing Russia-Ukraine conflict, suggesting a successful resolution there would be the necessary catalyst for him to receive the Nobel Prize.In an expression of international support, Israeli Prime Minister Benjamin Netanyahu publicly endorsed the President's worthiness for the accolade. On X, Netanyahu wrote: "Give @realDonaldTrump the Nobel Peace Prize -- he deserves it!"
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