Catastrophic flooding in Punjab: At least 37 unfortunate lives lost; 350,000 individuals forced to flee, making this the most devastating flood event since 1988
In the state of Punjab, a rescue operation is currently underway as the region grapples with the worst flood since 1988. At least 37 lives have been lost, and over 3.5 lakh people have been displaced due to the floods. The Sutlej River, though not explicitly mentioned in the provided text, was involved in the 1988 flood, and the Bhakra area was affected during that year. schools in the state have been shut down due to the floods.
The year 1988 stands out as one of the worst years for floods in Punjab, with the Governor at the time being General (Retd.) S.F. Cheema. The state has faced flash floods in 1993, 2008, and 2019 as well.
Elsewhere, Mukesh Ambani, the chairman of Reliance Industries (RIL), hailed GST 2.0 as a historic 'Diwali gift' to India and pledged to pass on the benefits. According to SBI Research, GST rate revision could reduce inflation by up to 75 basis points in FY26.
In the financial sector, Navratna PSU has fixed a record date for 50% payment on each share with a high-dividend yield of 5%. The ex-date for 17 stocks with events like dividend, stock split, bonus issue, right issue is on Monday, September 8.
Stocks to watch today include Varun Beverages, NTPC, Zydus Lifesciences, and IHCL. Nifty Prediction for Today, 5 September, suggests that GST reforms could trigger a market rally or dip.
In international news, Piyush Goyal, India's Commerce and Industry Minister, called US tariffs on India a 'blip', emphasizing that long-term ties remain strong.
It is important to note that there is no information about BSE or NSE being closed for Eid-e-Milad.
As always, stay informed and stay safe.
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