Top news today August 30: SC to hear AGR dues case, PM Modi in Maharashtra, Baazar Style Retail IPO, India Q1 GDP & more

Top news today August 30: There are a host of developments, updates and events expected in India and internationally in the markets, political, financial and general spheres on August 30. We take a look.

SC to hear Bharti Airtel, Vodafone Idea's curative pleas on AGR dues today

The Supreme Court of India (SC) will today (August 30) hear curative petitions filed by Bharti Airtel, Vodafone Idea and other telcos in the adjusted gross revenue (AGR) case.

A three-judge Supreme Court bench headed by Chief Justice DY Chandrachud will hear the matter at 1:30 p.m. today in a closed court hearing with no public attendance.

The telcos' curative petitions request the apex court to reconsider its previous judgements in favour of the Department of Telecommunication's (DoT) order seeking AGR and other non-revenue-related dues. They claim that DoT made “a grave error” in the calculation of AGR dues and thus imposed “arbitrary” penalty amounts.

Maharashtra: PM Modi will visit Mumbai, Palghar today

Prime Minister Narendra Modi will be on a visit to Maharashtra's Mumbai and Palghar on August 30.

In Mumbai, the Prime Minister will address Global Fintech Fest (GFF) at the Jio World Convention Centre. GFF is being jointly organised by the Payments Council of India, the National Payments Corporation of India and the Fintech Convergence Council.

Later, Modi will visit Palghar where he will inaugurate and lay the foundation stone of various development projects at CIDCO ground.

Baazar Style Retail IPO opens today

Baazar Style Retail's initial public offering (IPO) will open for subscription on August 30, and remain open till September 3. The company aims to raise ₹834.68 crore from this book-built issue, which combines a fresh issue of 38 lakh shares for ₹148 crore and an offer for sale (OFS) of 1.8 crore shares for ₹686.68 crore.

Axis Capital, Intensive Fiscal Services, and JM Financial are the issue's book-running lead managers. Link Intime India Private Ltd is the issue's registrar. You can check the top 10 key details of the Baazar Style Retail IPO here.

India's Q1 GDP data expected today

India is set to reveal the gross domestic product (GDP) data for the April-June quarter of the current fiscal 2023-24 (Q1FY24) on August 30. Mint's poll showed that India's Q1 GDP growth may have slowed to 6.85 per cent.

Last week, the Reserve Bank of India (RBI) released the minutes of the Monetary Policy Committee (MPC) meeting, highlighting that India's headline inflation is likely to witness a spike in the near months on account of supply disruptions due to adverse weather conditions.

There are risks from the impact of the skewed south-west monsoon so far, a possible El Niño event and upward pressures on global food prices due to geopolitical hostilities, according to the rate-setting panel.

Other important news, events are:

• Final publication of updated electoral rolls in Maharashtra expected today
• J&K Assembly Elections: Last date of withdrawal of candidature is today
• The Reserve Bank of India's town hall meeting in Indore today
• Bangladesh may sign international convention on enforced disappearances
• SpaceX delays Polaris Dawn astronaut launch until due to bad weather
• Gangs of Wasseypur and to re-release in cinemas today

Other important markets news:

• Brainbees Solutions (Firstcry) Q1 results
• US Personal Consumption Expenditures report for July
• MSCI to rebalance its indices today