Top stories on Sept 25: Sensex soars, MUDA scam probe, Wow Momo IPO, more

Sensex soared high, Wow Momo declared its plans to go public in two years, Malayalam actor Edavela Babu was arrested in a rape case amid the #MeToo movement in the Kerala film industry, a special court has ordered Lokayukta probe in the MUDA scam in a major setback for Karnataka CM Siddaramaiah – these were some of the many news-worthy events that happened today on September 25. Let’s look at some of them in detail.
The bulls are showing no signs of backing down. Despite a weak start, they staged a strong comeback in the final hour of trading today. This resurgence has driven both the Nifty 50 and the Sensex to hit new milestones, marking their fifth consecutive session of gains. The Nifty 50 surged by 0.35 percent, reaching a fresh record high of 26,032 points in trade before closing with a gain of 0.25 percent at 26,004 points. This marks the first time the index has closed above the 26,000 level. Click here to read more
In a significant development, a Special Court in Karnataka has ordered a Lokayukta police investigation into Chief Minister Siddaramaiah concerning the Mysuru Urban Development Authority (MUDA) site allotment controversy. Judge Santhosh Gajanan Bhat issued the ruling on Wednesday, following the High Court’s recent affirmation of Governor Thaawar chand Gehlot’s sanction for the inquiry. Read here to know what Siddaramaiah said
Malayalam actor Edavela Babu was arrested on Wednesday, September 25, amid the #MeToo allegations that have rocked the Kerala film industry ever since the Hema Committee report on working conditions of women was made public. The report exposed disturbing accounts of harassment, exploitation, and the systematic mistreatment of women in the industry. Read here
Indian fast-food chain Wow Momo Foods plans to go public within two years, its CEO said, as the popular dumpling brand aims to replicate the rapid expansion of Domino’s Pizza in the world’s most populous country. India’s $5 billion fast-food sector has seen significant growth, driven by rising demand among low- and middle-income families. Valued at 25 billion rupees ($299.33 million) with a network of 650 stores, Wow Momo plans to become the first major local fast-food chain to go public, riding on this shift in consumer behavior. Read here for more
The Bombay High Court expressed scepticism regarding the police’s version of the incident involving the prime accused Akshay Shinde, who was killed in a “retaliatory firing.” The court noted, “It is hard to believe… It requires strength for the slider to pop. Cannot fire a pistol unless he is trained.” Read what it said