Top news today: RBI MPC will start, Rahul Gandhi to visit Sambhal, Honda Amaze launch, Cyclone Fengal & more on Dec 4

Top news today, December 4: A host of developments and events are expected in India and internationally on December 4 in the markets, political, financial, technology, and general spheres. Take a look.

Today, on December 4, the Reserve Bank of India's Monetary Policy Committee (RBI MPC) meeting will be held from December 4-6, Leader of Opposition (LoP) and MP Rahul Gandhi and Uttar Pradesh Congress leaders will attempt to visit Sambhal today; we also bring you an update on status of Cyclone Fengal and the IMD weather alert; meanwhile in the business and markets news Honda is set to launch its new Amaze, and Suraksha Diagnostics IPO allotment is likely, among other news.

RBI MPC meet begins today, expected to keep repo rate unchanged

The RBI is expected to keep policy rates unchanged at 6.5 per cent for the 11th consecutive time in this MPC meeting from December 4-6. The opinion was echoed in reports by the State Bank of India (SBI) and HDFC Bank.

Further, the HDFC Bank report added that the likelihood of a rate cut in February has increased. It said, “We anticipate that the RBI will maintain the current policy rate at its meeting next week, although the likelihood of a rate cut in the February policy has increased post this weaker than expected GDP data.”

Rahul Gandhi, Congress MPs to visit Sambhal today amid curbs

Lok Sabha LoP and MP Rahul Gandhi, along with the five other Congress MPs from Uttar Pradesh, will visit violence-hit Sambhal today, the party's state unit chief Ajay Rai told PTI. He added that newly-elected Wayanad MP Priyanka Gandhi Vadra, party general secretary, and UP in-charge Avinash Pande may also be part of the delegation.

Notably, Sambhal is facing curbs under Section 163 (power to issue an order in urgent cases of nuisance or apprehended danger) of the Bharatiya Nagarik Suraksha Sanhita (BNSS) till December 31. This was to expire on December 1 but was extended.

Superintendent of Police of Sambhal Krishan Kumar told PTI, “Section 163 of the BNSS is already imposed in Sambhal. No outsider is allowed (to enter Sambhal). If they come, then they will be served a notice.”

ISRO to launch European Space Agency’s Proba-3 mission

ISRO will launch the European Space Agency's (ESA) dedicated commercial mission, the Proba-3 spacecraft, early today. It is scheduled to lift off from the first launch pad at this spaceport at 4:08 pm on December 4.

"The 25-hour countdown started at 3.08 pm on Tuesday, and right now, the preparatory works (for the launch) are being done," an ISRO official told PTI on December 3.

Dubbed the world's first initiative, the Proba-3 (Project for Onboard Autonomy) consists of a double satellite in which two spacecraft fly together as one, maintaining precise formation down to a single millimetre to study the sun's outer atmosphere. ISRO is using its dedicated workhorse Polar Satellite Launch Vehicle (PSLV) for the mission.

2024 Honda Amaze set to launch today

Honda Cars India is all set to elevate the competition in the sub-compact sedan segment with the launch of the third-generation Amaze on December 4, 2024. The new Amaze promises a major facelift, incorporating significant design upgrades and new features, reported HT Auto.

The 2024 Honda Amaze, which will be released on December 4, will likely introduce significant design updates, an advanced interior with an 8-inch infotainment system, and ADAS technology, making it a notable contender in the subcompact sedan market.

Cyclone Fengal Update: IMD, weather dept issue warnings

Many areas in Karnataka will experience rainfall in the next 48 hours, as per the IMD, due to the remnant of Cyclonic Storm Fengal, ANI reported. Due to the cyclone, the IMD has issued an orange alert for several Karnataka districts, including Udupi, Shivamogga, Mangaluru, and Dakshin Kannada.

The Met said that the cyclone is likely to move west-northwestwards over the east-central Arabian Sea during the next two days. It will likely maintain intensity for the next 24 hours and weaken gradually thereafter.

In an advisory to fishermen, the IMD asked them not to venture into the Lakshadweep area from December 3-5 and over the southeast adjoining east central Arabian Sea from December 4-7.

Furthermore, the Deputy Commissioner of Dakshina Kannada, Mullai Muhilan, has announced holidays for schools and pre-university colleges due to the current weather conditions.

President Murmu in Odisha on 5-day visit, to offer prayers at Jagannath temple

President Droupadi Murmu will be on a five-day visit to Odisha from today, December 3, as per a PTI report. Here's a look at her schedule according to the official statement:

• December 4: Have darshan and perform puja at the Jagannath temple in Puri; attend the 75th-anniversary celebrations of Gopabandhu Ayurveda Mahavidyalaya; and attend Navy Day celebrations and operational demonstrations at the Blue Flag Beach.
• December 5: Attend 40th convocation ceremony of the Odisha University of Agriculture and Technology in Bhubaneswar; and inaugurate a judicial complex in the state capital.
• December 6: Interact with students and residents at her birth village of Uparbeda; and interact with students and teachers at the Mahila Mahavidyalaya in Rairangpur.
• December 7: Lay foundation for/inaugurate various projects, including the Bangiriposi-Gorumahisani, Buramara-Chakulia, and Badampahar-Kendujhargarh rail lines; a tribal research and development centre in Rairangpur; Dandbose Airport, Rairangpur; and sub-divisional hospital, Rairangpur, the statement said.

Can Fin Homes will trade ex-dividend today

Can Fin Homes Ltd has declared an interim dividend of ₹6, according to BSE data. It said that the company will trade ex-dividend for the payment of ₹6 per share to the eligible shareholders

The day when the equity share price adjusts to show the next dividend payout is known as the ex-dividend date. When the stock becomes ex-dividend, it does not carry the value of its next dividend payment from that day forward.

Dividends are payable to all the shareholders whose names appear on the company's list by the end of the record date.

Suraksha Diagnostics IPO allotment status announcement likely today

The announcement of the initial public offering (IPO) allotment of the Suraksha Diagnostics offer is likely today. The IPO hit the Indian primary market on Friday last week. The public issue was open until December 3, 2024.

The medical consultancy services company has fixed Suraksha Diagnostics IPO price band at ₹420 to ₹441 per equity share. The company aims to raise ₹846.25 crore from this initial offer, which is entirely Offer for Sale (OFS). So, Suraksha Diagnostics IPO size is ₹846.25 crore, but not a single rupee would come into the company's balance sheet. The net proceeds will go to the pockets of promoters who are offloading their stake in the company.

Meanwhile, company shares continue to trade at par in the grey market today. However, the book build issue received a tepid response in the first two days of bidding. According to Suraksha Diagnostics' IPO subscription status, the public issue has been subscribed to 25 per cent.

(With inputs from Agencies)