برچسب: Stock market

Fed Chair Jerome Powell will be giving a speech at an annual economic conference in Jackson Hole, Wyoming on Thursday. Investors are hoping Powell will offer clarity on further rate hikes. Wall Street ended with gains on Wednesday and Asian markets started on a positive note on Friday.

25 Aug 2022, 11:36:31 AM IST
IT Index continues to remain under pressure; most stocks in red.

View Full ImageIT Index

25 Aug 2022, 11:35:11 AM IST
Rakuten expands in India by setting up new facility
Japanese Internet services and e-commerce group, Rakuten’s India unit, is opening a new office in Bengaluru on Thursday, in a bid to expand globally. The new facility houses product, engineering, and advanced research and is Rakuten Group’s “largest outside Japan,” according to the company. (Full Story)

25 Aug 2022, 11:17:22 AM IST
IOC eyes net zero carbon emissions by 2046
Indian Oil Corp, the country’s top refiner, has set a 2046 net zero carbon emissions goal, its chairman S. M. Vaidya said at annual shareholders meet on Thursday. India, one of the world’s biggest greenhouse gas emitters, is aiming to reach net zero emissions by 2070.Vaidya said IOC has prepared a roadmap to achieve net zero Scope 1 and 2 emissions by 2046. Scope 1 and 2 emissions relate to emissions from crude refining and energy consumption. (Reuters)

25 Aug 2022, 11:15:43 AM IST
UPL stock gains more than 2% on Thursday trading

View Full ImageUPL

25 Aug 2022, 10:55:07 AM IST
DreamFolks Services IPO: GMP jumps after strong retail subscription. Should you apply?
The initial public offer (IPO) of DreamFolks Services Ltd opened for subscription on 24th August 2022 and the public issue will remain open for bidding till 26th August 2022. The public offer worth ₹562.10 crore got fully subscribed on day one of bidding. On day two of bidding, the retail portion of the public issue has been subscribed 9.99 times by 10:34 AM. This strong response by retail investors has influenced grey market as well. As per the market observers, shares of DreamFolks Services Ltd are available at a premium of ₹83 in grey market today. (Read More)

25 Aug 2022, 10:47:46 AM IST
CTG Duty Free slips after biggest Hong Kong listing of the year
China Tourism Group Duty Free Corp. slipped early in its Hong Kong trading debut, after raising HK$16.2 billion ($2.1 billion) in the Asian financial hub’s biggest listing this year.Shares of the world’s largest travel retailer dropped to HK$157.90 as of 1:08 p.m. local time. They were sold at HK$158 each, above the mid-point of a marketed range. The debut was delayed to the afternoon as Hong Kong Exchanges & Clearing Ltd. scrapped its morning trading session due to tropical storm Ma-on.Proceeds from the retailer’s offering boosted this year’s tally for new-share sales in Hong Kong to $7.2 billion, according to data compiled by Bloomberg. Still, that amount is about 80% lower than the same period last year, with large-size offerings becoming scarce globally as rising interest rates and high inflation keep big issuers on the sidelines. (Bloomberg)

25 Aug 2022, 10:34:59 AM IST
Metal stock trades ex-split, shares hit upper circuit
Shares of Rama Steel Tubes Ltd surged to hit the upper circuit level of 5% to ₹115 apiece on the BSE in Thursday’s early trading session, as the metal stock started ex-split, a day ahead of its record date for the sub-division of equity shares in the ratio of 5:1. (Full Story)

25 Aug 2022, 10:28:50 AM IST
Rupee gains 6 paise to 79.80 against US dollar in early trade
The rupee appreciated 6 paise to 79.80 against the US dollar in opening trade on Thursday, tracking its Asian peers and a positive trend in domestic equities.At the interbank foreign exchange, the domestic unit opened at 79.80 against the dollar, registering a gain of 6 paise over its previous close.On Wednesday, the rupee depreciated 3 paise to close at 79.86 against the US dollar. (PTI)

25 Aug 2022, 10:24:58 AM IST
NDTV shares gain 5%; hit upper circuit for the second day in a row
Shares of NDTV Ltd continued to climb for the second consecutive day on Thursday and touched the upper circuit limit of ₹407.60 on the National Stock Exchange amid the Adani group making an offer to take over the media firm.On NSE as well as BSE, the scrip jumped 5% in opening trade and touched the respective upper circuit limits.The company’s shares rose 5% to ₹407.60 apiece on NSE, also its 52-week high, after closing at ₹388.20 on Wednesday. (PTI)

25 Aug 2022, 10:22:38 AM IST
RBL Bank shares: What is triggering the surge? Stock up 23% in 2 days
After hitting upper circuit on Wednesday session, RBL Bank shares have opened upside in early morning deals on Thursday. RBL Bank share price today opened with an upside gap and went on to hit intraday high of ₹128.25 apiece levels, logging near 5.35 per cent intraday gain in early morning session. However, the stock had hit upper circuit on Wednesday that means the banking stock has surged from around ₹104 to ₹128.25 levels in 2 sessions, logging around 23 per cent rise in this period. (Full Story)

25 Aug 2022, 09:59:04 AM IST
Angel One analysis on today’s market: Consolidation to continue for key indices
Sameet Chavan, chief analyst-technical and derivatives, Angel One Ltd: Our markets started the session on a soft note by shrugging off unfavorable cues from the global bourses. During the remaining part of the session, both counterparties made several attempts to show their dominance; but eventually, the bulls turned out victorious as we witnessed good traction in the last hour to reclaim the 17600 mark on a closing basis.Amid a mild tug of war yesterday, our markets managed to close in the green by a small margin. If we observe meticulously, the Nifty kept oscillating at merely 70-80 points throughout the session, which is a sign of consolidation. The real action was seen outside the index as a lot of individual stocks gave excellent moves in the latter half. For the coming session, we expect this consolidation to continue for key indices. As far as levels are concerned, 17650 – 17710 is to be seen as an immediate resistance zone and momentum traders should ideally look to lighten up longs around it from an expiry perspective. On the flip side, 17525 – 17450 remains to be an intraday support.Globally, things have once again become slightly turbulent and hence, it’s advisable not to get complacent here. Rather, following one step at a time is the appropriate strategy

25 Aug 2022, 09:55:11 AM IST
Europe’s energy crisis risks dwarfing $279 billion rescue cash
Europe’s politicians have already earmarked about 280 billion euros ($279 billion) to ease the pain of surging energy prices for businesses and consumers, but the aid risks being dwarfed by the scale of the crisis.With Russia squeezing gas deliveries and power-plant outages further sapping supply, wholesale energy prices have soared to more than 10 times their seasonal average over the past five years. Tensions have intensified as Moscow prepares to shut the key Nord Stream pipeline on Wednesday for maintenance, reviving concerns about a long-term halt that would threaten efforts to secure sufficient reserves for the winter. (Bloomberg)

25 Aug 2022, 09:54:16 AM IST
Gujarat Gas, IGL, MGL: What Jefferies recommends on Indian oil & gas stocks
The recent hike in domestic gas allocation for CNG has created room for Indraprastha Gas (IGL)/ Mahanagar Gas (MGL) to defend their respective Ebitda per scm till US$ 70/60 per mmbtu Spot price (assuming APM price is capped at current level), as per global brokerage Jefferies. (Read More)

25 Aug 2022, 09:31:48 AM IST
NDTV says Adani needs regulatory nod to buy its top shareholder
New Delhi Television Ltd (NDTV) on Thursday said Adani Group needs regulatory approval to buy its biggest shareholder, as its founders – who own the target firm – are barred from trading in securities markets.Indian billionaire Gautam Adani’s conglomerate on Tuesday said it was seeking a controlling stake in the news channel. NDTV said the action “was executed without any input from, conversation with, or consent of the NDTV founders”.NDTV founders Radhika and Prannoy Roy took a 4 billion rupee ($50 million) loan from little-known firm VCPL over 10 years ago, and in exchange issued warrants allowing VCPL to buy 29.18% of the news group.The Adani Group said on Tuesday it had acquired VCPL and is exercising those rights. (Reuters)

25 Aug 2022, 09:23:42 AM IST
All broad sectoral indices in green with PSU Bank and Realty leading the pack 

View Full ImageBroad Sectoral Indices

25 Aug 2022, 09:21:15 AM IST
Sensex and Nifty added 250 and 80 points, respectively, at open on Thursday. Airtel stock climbed 1.5% in early trading

View Full ImageSensex at Open

25 Aug 2022, 09:08:35 AM IST
Reliance Securities Stock in Focus: Kalpataru Power
STOCK IN FOCUSKalpataru Power (CMP Rs.371)We have a BUY rating on KPP, with a SOTP-based Target Price of Rs535.Intraday PicksHDFC (PREVIOUS CLOSE: 2,439) BUYFor today’s trade, long position can be initiated in the range of Rs2,432- 2,420 for the target of Rs2,495 with a strict stop loss of Rs2,394.GRANULES (PREVIOUS CLOSE: 309) BUYFor today’s trade, long position can be initiated in the range of Rs309- 307 for the target of Rs319 with a strict stop loss of Rs302. NESTLEIND (PREVIOUS CLOSE: 19,671) BUY For today’s trade, long position can be initiated in the range of Rs19,490- 19,400 for the target of Rs19,940 with a strict stop loss of Rs19,340.

25 Aug 2022, 09:05:07 AM IST
Sensex is flat with marginal gains at preopen

View Full ImageSensex Preopen

25 Aug 2022, 08:56:55 AM IST
Stocks to Watch: Tata Power, Maruti Suzuki, TVS Motor, ONGC, IDFC
RBL Bank has been put on the list of banned securities under the F&O segment for Thursday trading as it has crossed 95% of the market-wide position limit. Websol Energy System and Consolidated Construction Consortium will be declaring their June quarter results and thus will be in focus. (Full Story)

25 Aug 2022, 08:46:15 AM IST
LIC shares in focus as stock trades ex-dividend today
Life Insurance Corporation (LIC) of India or LIC stock will be in focus today as shares of insurance behemoth are going to trade ex-dividend on Thursday. In its previous exchange filing, LIC of India has informed Indian exchanges that the board of directors of the insurance company has approved dividend payment of ₹1.50 per equity share to its shareholders for the financial year 2021-22. The company board also fixed 26th August 2022 as record date for finalising eligible shareholders for dividend payment. (Full Details)

25 Aug 2022, 08:38:38 AM IST
Bharti Telecom to buy 3.33% Airtel stake from Singtel for ₹12,895 crore
Bharti Airtel promoter Bharti Telecom will buy a 3.33% stake from Singtel for 2.25 billion Singapore dollars or about ₹12,895 crore in 90 days, the telecom operator said on Thursday.Bharti Group chairman Sunil Bharti Mittal’s family and Singtel own Bharti Telecom (BTL).”Singtel and its affiliates have entered into an agreement to transfer approximately 3.33 per cent shares to BTL for an aggregate amount of approximately 2.25 billion Singapore dollars, leaving direct shareholding of Singtel and Bharti in Airtel at around 10 per cent and 6 per cent respectively,” Bharti Airtel said in a regulatory filing on Thursday.The acquisition is to be completed over a period of 90 days. (PTI)

25 Aug 2022, 08:37:47 AM IST
India bond yields seen up tracking U.S. peers, oil
Indian government bond yields are expected to rise marginally in early trades on Thursday, tracking higher U.S. yields and global oil prices.The benchmark 10-year government bond yield is likely to trade in 7.27%-7.32% band, a trader with a private bank said. The yield has risen 11 basis points in the last five sessions. It had ended at 7.2858% on Wednesday.”All factors have turned bearish for bonds, and we do not expect any major buying today or even tomorrow,” the trader said. (Reuters)

25 Aug 2022, 08:21:57 AM IST
BEML to fix record date for 1:1 shares issue by BEML Land Assets in board meet today
Shares of PSU mining firm BEML plunged nearly 2% on the BSE in Wednesday’s early deals as the board will meet on August 24, 2022 to decide on the record date to determine eligible shareholders for issuing shares by BEML Land Assets as part of the demerger scheme. BEML to fix a record date to determine eligible shareholders for issuing shares by BEML Land Assets as part of the demerger scheme. (Full Story)

25 Aug 2022, 08:15:42 AM IST
India can add another 23.7GW wind energy capacity in next five years: Study
India can add another 23.7GW of wind energy capacity in the next five years, according to a study.Global Wind Energy Council and MEC Intelligence (MEC) on Wednesday released the report titled “Renewing wind growth to power the energy transition: India Wind Energy Market Outlook 2026”.According to a statement, the third annual edition looking at the wind energy outlook in India highlights wind energy’s critical link to India’s green energy transition. (PTI)

25 Aug 2022, 08:05:31 AM IST
RBL Bank shares under F&O ban on NSE today
Only one stock has been put under the ban for trade on Thursday, August 2, 2022 under the futures and options (F&O) segment by the National Stock Exchange (NSE). The counter has been put on ban under the F&O segment as it has crossed 95% of the market-wide position limit (MWPL), as per the NSE. (Read More)

25 Aug 2022, 08:00:44 AM IST
India on course to have 1.8 lakh km highways, 1.2 lakh km rail lines by 2025: Report
The country is on course to build more national highways and rail lines during the decade ending 2025 than it has cumulatively done between 1950 and 2015, a report said on Wednesday.The total length of national highways is expected to reach 1.8 lakh kilometres, while that of the railway lines 1.2 lakh kilometres by 2025, Bank of America Securities India said in a report.Between 1950 and 2015, the nation built only 4,000 kilometres of national highways, taking the total length to 77,000 kilometres in 2015. However the highway length is on course to cross 1.8 lakh kilometres by 2025 — more than double the existing length — in ten years time. (PTI)

25 Aug 2022, 07:59:17 AM IST
All about Adani’s media entity that bought 29.18% stake in NDTV
Adani Group on Tuesday indirectly acquired a 29.2% stake in New Delhi Television Ltd by buying VCPL, and offered to buy another 26% from the open market, NDTV said the move to take control of the media company’s major shareholder was without consent from the firm or its founders.Vishvapradhan Commercial Pvt. Ltd (VCPL), which owned convertible debentures (warrants that provide for the conversion of debt to equity) in RRPR Holding Pvt. Ltd that in turn owned 29.18% of NDTV Ltd, is a wholly-owned subsidiary of AMG Media Networks Ltd (AMNL), the media arm of Adani Enterprises Ltd (AEL). It had acquired the debentures in 2009-10 in return for a loan amounting to ₹404 crore it extended to the promoter holding company. (Full Story)

25 Aug 2022, 07:43:51 AM IST
Rupee slips 2 paise to close at 79.85 against US dollar
The rupee consolidated in a narrow range and depreciated 2 paise to close at 79.81 (provisional) against the US dollar on Wednesday.At the interbank foreign exchange market, the domestic currency opened at 79.84 per dollar. It hovered in a range of 79.68 to 79.87 during the session.The domestic unit finally settled at 79.85, down 2 paise over its previous close of 79.83. (PTI)

25 Aug 2022, 07:42:18 AM IST
Retailers eye 5G to boost festive demand
Retailers are banking on 5G and 5G- enabled smartphones to stimulate demand ahead of the festive season as top brands prepare to launch models based on the technology and telcos initiate new services. A section of retailers expect 5G smartphone prices to fall from ₹15,000 to below ₹10,000 within six months. (Full Story)

25 Aug 2022, 07:38:46 AM IST
Storm delays trading debut for Hong Kong’s biggest IPO this year
China Tourism Group Duty Free Corp., which raised HK$16.2 billion ($2.1 billion) in Hong Kong’s biggest listing this year, will have its debut delayed due to tropical storm Ma-on.The shares were sold at HK$158 each, above the mid-point of a marketed range, and when the Hong Kong stock was priced last week, the discount to the firm’s equities trading in Shanghai was about 27.5%. Hong Kong Exchanges & Clearing Ltd. scrapped trading of stocks and derivatives during the morning session, with trading scheduled to start at 1 p.m. (Bloomberg)

25 Aug 2022, 07:36:43 AM IST
Corporate bond outstanding soars four-fold to ₹40.2 lakh crore in a decade
Illiquidity in secondary corporate debt market is a global issue and so focus should be on further deepening primary market that has grown nearly four-folds in a decade to over ₹40 lakh crore, an RBI official said.Addressing a Bombay Chamber of Commerce & Industry event on Wednesday, Reserve Bank deputy governor T Rabi Sankar said the concerted efforts by regulators and government have seen corporate bond outstanding touching ₹40.20 lakh crore in FY22 from ₹10.51 lakh crore in FY12. While annual issuances during this period have increased from ₹3.80 lakh crore to close to ₹6 lakh crore.During this period, the secondary market volume spiked from ₹4.5 lakh crore to ₹14.37 lakh crore, showing clearly that secondary trading has not risen in consonance with the size of the market, he said. (PTI)

25 Aug 2022, 07:27:07 AM IST
Domestic demand helps companies sail through in Apr-Jun
Geopolitical issues, a weakening rupee, recessionary concerns across developed markets and high commodity prices had a bearing on the June quarter performance of India Inc., said experts. Managements have indicated that recent input price corrections should drive a margin recovery in Oct-March. (Full Story)

25 Aug 2022, 07:26:21 AM IST
Stocks edge higher as Wall Street waits for Fed speech
Stocks ticked higher Wednesday as Wall Street waits for a highly anticipated speech about interest rates at the end of the week.The S&P 500 edged up 12.04 points, or 0.3%, to 4,140.77, as traders overall again held off on making big moves. The Dow Jones Industrial Average added 59.64, or 0.2%, to 32,969.23, and the Nasdaq composite rose 50.23, or 0.4%, to 12,431.53. (AP)

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Wall Street stocks rose on Thursday despite data showing the US economy contracted for a second straight quarter as more S&P 500 companies reported results and beat analyst expectations. Tokyo stocks opened higher on Friday, extending rallies on Wall Street.

29 Jul 2022, 03:03:47 PM IST
India received highest ever FDI inflow in FY 2021-22
India received its highest ever Foreign Direct Investment (FDI) inflow of ₹6,31,050 crore in Financial Year 2021-22 said Som Parkash, Minister of State in the Ministry of Commerce and Industry.The FDI Equity inflow in manufacturing sectors has increased to ₹1,58,332 crore in the financial year 2021-22 from ₹89,766 crore in the previous year, making it an increase of 76 per cent.Foreign direct investment (FDI) is a type of investment wherein an investor from one country establishes or significantly influences a business entity in another economy.

29 Jul 2022, 02:45:13 PM IST
HDFC Q1 net profit rises 22%; to invest up to ₹2,000 crore in HDFC Life via preferential issue
Housing Development Finance Corporation (HDFC) on Friday reported a 22% rise in its standalone net profit at ₹3,669 crore for the first quarter ended Q1 FY23 as compared to ₹3,001 crore in the same quarter last year. (Full Report)

29 Jul 2022, 02:41:18 PM IST
Prabhudas Lilladher on Dr. Reddy’s, Jubilant, IndusInd and JK Lakshmi Cement
Dr. Reddy’s Laboratory: BUYJK Lakshmi Cement: ACCUMULATEIndusInd Bank: BUYJubilant Foodworks: ACCUMULATE 

29 Jul 2022, 02:31:26 PM IST
PSU Bank is the only index in red, down 1%. PNB down almost 4%.

View Full ImagePSU Bank

29 Jul 2022, 02:25:56 PM IST
Ashok Leyland Q1 profit at ₹96 crore
Commercial vehicles maker Ashok Leyland on Friday reported a consolidated net profit of ₹96 crore for June quarter 2022-23 riding on higher sales. The company had incurred a net loss of ₹324 crore in the same period last fiscal year, Ashok Leyland said in a regulatory filing. Revenue from operations more than doubled to ₹8,470 crore in the quarter from ₹4,088 crore in April-June period a year ago, it added.

29 Jul 2022, 02:11:19 PM IST
Swiggy to allow permanent work-from-anywhere
On-demand convenience platform Swiggy on Friday said it will allow permanent work-from-anywhere for a majority of its employees.Going forward, corporate, central business functions and technology teams will continue to work remotely, the company said in a statement.They will converge once in every quarter at their base location for a week to promote in-person bonding, it added.However, employees who are in “partner-facing roles” are required to work from the office for a few days a week from their base locations, it added.

29 Jul 2022, 02:10:36 PM IST
Amazon Shows It Can Generate Sales While Slowing Spending
Amazon.com Inc. showed its e-commerce and cloud-computing businesses can churn out revenue even as consumers worry about inflation and the company gets serious about curtailing expenses. Investors sent shares up more than 12% in pre-market trading on Friday.Amazon reported second-quarter sales Thursday that topped analysts’ estimates and gave a revenue forecast for as much as 17% growth in the current period.While he focuses on rekindling sales, Chief Executive Officer Andy Jassy is determined to unwind a pandemic-era expansion that saddled Amazon with a surfeit of warehouse space and too many employees. Fulfillment expenses increased 14% to $20.3 billion, virtually the same as the previous three-month period, and less than analysts predicted. At the same time, the former Amazon Web Services leader will spend money on the profitable market-leading cloud unit to take advantage of the potential for growth.

29 Jul 2022, 02:08:46 PM IST
Sun Pharma gains 5% in today’s session after a strong quarterly report 
India’s largest drugmaker Sun Pharmaceutical Industries on Friday reported a net profit of ₹2,061 crore for the quarter ending 30 June, 2022 (Q1FY23), beating average profit estimate of ₹1,718 crore based on a survey of analysts by Bloomberg. Buoyed by sales of its specialty treatments in the US, total revenue from operations increased 10.73 % year-on-year (YoY) to ₹10,761.76 crore. Excluding Covid products sales for Q1 last year, overall sales are up by about 14%. Shares of the company were trading at 5.02% higher at ₹939.75 apiece on the NSE today.

View Full ImageSun Pharma

29 Jul 2022, 01:46:12 PM IST
Saurabh Mukherjea’s chemical stock pick surges 18% after rise in Q1 revenue
One of the mid-cap stocks in Saurabh Mukherjea’s Little Champ portfolio stocks, GMM Pfaudler shares have surged more than 18 per cent in morning session today. GMM Pfaudler share price today opened upside and went on to hit intraday high of ₹1,594.50 apiece levels on NSE, logging around 18 per cent rise from its Thursday close price of ₹1,343.30 per share. The stock has zoomed after the company reported rise in Q1 revenue and margins in its quarterly results announced on Thursday. (Full Report)

29 Jul 2022, 01:35:01 PM IST
More Oil Middlemen Muscle in to Supply India with Russian Crude
India is set to get more channels to buy cheap Russian oil, with a new wave of smaller, international traders muscling into its vast market by offering barrels shunned by rivals after the invasion of Ukraine.State-run refiners such as Indian Oil Corp. are warming to the idea of buying from the lesser-known traders. Refinery officials said they’ve found it easier to work with them, rather than directly with Russian producers, as there’s less bureaucracy that slows negotiations with firms such as Rosneft PJSC.Companies include Wellbred and Montfort have been marketing Russian oil to Indian buyers, joining the likes of Coral Energy and Everest Energy as more traders emerge to fill the gap left by larger merchants such as Vitol Group, said the officials, who declined to be named. According to their websites, the companies have offices in Switzerland, Dubai and Singapore.

29 Jul 2022, 01:21:14 PM IST
Reforms in drones, space and geospatial sectors opening up new avenues: PM Modi
Prime Minister Narendra Modi on Friday that reforms in drones, space and geospatial sectors are opening up new avenues.”Removal of angel tax, removal of retrospective tax, and reduction of corporate tax – are encouraging investments and industry. The reforms in drones, space and geospatial sectors are opening up new avenues”, he said.Addressing the gathering, the Prime Minister congratulated the students on getting their degrees. “Congratulations to all those who are graduating today in Anna University’s 42nd convocation. You would have already built a future for yourselves in your minds. Therefore, today is not only a day of achievements but also of aspirations”, he said.

29 Jul 2022, 01:20:08 PM IST
Production of bio-jet fuel in the works, says Gadkari
Union minister for road transport and highways Nitin Gadkari on Thursday said that India is working on the production of bio-aviation fuel with ethanol mix, which would lower costs for airlines.Speaking at the Mint Mobility Conclave, the minister noted that the aviation sector is going through difficult times amid steep fuel costs, and 75% of the cost of airlines now go towards fuel costs. (Full Report)

29 Jul 2022, 12:58:24 PM IST
Climate finance: Govt says India has exposed exaggerated claims by developed countries
India has been taking the lead in raising the issue of climate finance and its efforts have exposed exaggerated claims by developed countries that the goal of mobilising USD 100 billion per year to help developing countries is close to being met, the government has said.At the 15th Conference of Parties (COP15) of the United Nations Framework Convention on Climate Change (UNFCCC) held in Copenhagen in 2009, developed countries committed to jointly mobilise USD 100 billion (one billion =100 crore) per year by 2020 to address the needs of the developing countries.At COP21 in Paris, with the developed countries having failed to keep their commitment, it was decided to extend the USD 100 billion per year goal through to 2025.

29 Jul 2022, 12:35:41 PM IST
Chinese shares sink after leaders acknowledge the official 5.5% growth target for this year won’t be met.
Hang Seng is down 2.5% and Shanghai Composite Index is down 0.8%. 

29 Jul 2022, 12:19:25 PM IST
Paytm CEO chases for $1 billion revenue goal, says will hit the mark this fiscal
Digital-payments provider Paytm is set to become India’s first internet company to hit $1 billion in annual revenue by the end of this fiscal year in March, its founder and chief executive officer (CEO) Vijay Shekhar Sharma told Bloomberg in an interview. (Full Report)

29 Jul 2022, 12:07:24 PM IST
Kalpataru Power bags orders worth ₹1,842 crore
Kalpataru Power Transmission Ltd (KPTL) on Friday said the company and its subsidiaries have bagged orders worth ₹1,842 crore. The orders are for metro rail electrification, composite railway project, Buildings & Factories (B&F) projects and in transmission and distribution (T&D) business in India. Besides, the company has bagged projects overseas in the T&D business, it said in a statement.

29 Jul 2022, 12:02:30 PM IST
Noon Update: Benchmark indices at 3-month with Sensex and Nifty crossing 57,000 and 15,700 mark, respectively, in today’s session
Tata Steel and SBI Life soared by 8% each on Friday, whereas Dr Reddy’s Laboratories was down 3%. Metal stocks led the rally, whereas Pharma and PSU Banks were the only indices in the red.

View Full ImageSensex Noon

29 Jul 2022, 11:47:44 AM IST
India, China ministers at summit as Chinese ship heads to Sri Lanka
Indian and Chinese foreign ministers were to attend a regional conference in Uzbekistan on Friday, a day after New Delhi expressed concern over a Chinese survey ship’s planned visit to a strategic port in India’s southern neighbour Sri Lanka.New Delhi worries that the Chinese-built and leased Hambantota port will be used by China as a military base in India’s backyard. The $1.5 billion port is near the main shipping route from Asia to Europe.

29 Jul 2022, 11:45:54 AM IST
Metal index leads the rally, up 4%. All stocks in green.

View Full ImageMetal

29 Jul 2022, 11:30:21 AM IST
Telecom has space for more players: Ashwini Vaishnaw
India’s telecom market has the potential to attract new players since the government has undertaken significant reforms to improve the financial health of the sector, communications minister Ashwini Vaishnaw said.The Indian telecom industry has shrunk from more than a dozen players about a decade ago to three—Reliance Jio, Bharti Airtel and Vodafone Idea—besides public sector units BSNL and MTNL. (Full Report).

29 Jul 2022, 11:28:35 AM IST
TVS Motor maintains its balance in Q1 despite a bumpy ride
TVS Motor Co. Ltd faced the odds and reported a steady performance in the June quarter of FY23. While auto companies so far have reported a drop in their Ebitda (earnings before interest, tax, depreciation and amortization) margins, TVS has bucked the trend.TVS expects slight inflation in Q2, but from Q3, it sees input costs trending flat to lower. On the demand front, the upcoming festival season and recovery in rural markets augur well. (Full Report)

29 Jul 2022, 11:27:13 AM IST
France Resumes Growth as Europe Frets on Recession: GDP Update
France’s economy returned to growth with faster expansion than expected, putting it on a firmer footing as surging inflation and the risk of a Russian energy cuttoff threaten to tip Europe into a recession.After a surprise contraction at the start of 2022, gross domestic product rose by 0.5% in the three months through June, more than the 0.2% median estimate in a Bloomberg survey of analysts.But trade accounted for most of the surprise, with consumer spending falling for a second straight quarter.

29 Jul 2022, 11:09:59 AM IST
World Bank says no new plans for financing for Sri Lanka
The World Bank does not plan to offer new financing to Sri Lanka until an adequate macroeconomic policy framework is in place, it said in a statement on Thursday.The World Bank stressed that Sri Lanka needs to enact structural reforms that focus on economic stabilization and address the root structural causes that led to the crisis.

29 Jul 2022, 11:09:28 AM IST
SBI Life gains 9% post strong quarterly results on Thursday

View Full ImageSBI Life

29 Jul 2022, 10:57:40 AM IST
Shree Cement investors don’t have much to look forward to
For investors in Shree Cement Ltd stock, there is no respite in sight from input cost pressures. Due to a spike in power & fuel costs, its operating margins declined by around 1,000 basis points (bps) year-on-year in the first quarter of FY23.Although the entire cement industry is battling cost inflation, despite better realisations, Shree Cement’s operating performance was lower than consensus estimate. (Full Report)

29 Jul 2022, 10:46:14 AM IST
Glenmark Pharma arm gets final USFDA nod for birth control capsule
Glenmark Pharmaceuticals Ltd on Friday said its US arm has received final approval from the US health regulator for its generic Norethindrone Acetate and Ethinyl Estradiol Capsules and Ferrous Fumarate birth control capsules.The approval granted by the US Food & Drug Administration (USFDA) to Glenmark Pharmaceuticals Inc is for Norethindrone Acetate and Ethinyl Estradiol Capsules and Ferrous Fumarate Capsules of strength 1 mg/20 mcg, the company said in a statement.It is the generic version of Taytulla capsules of Allergan Pharmaceuticals International Ltd, it added.

29 Jul 2022, 10:36:14 AM IST
Apple’s India revenue almost doubles in June 2022 quarter
Technology giant Apple, which recorded 83 billion dollars in revenue for the third quarter ended June 2022, has reported a “near doubling” of revenue in India.Announcing financial results for its fiscal 2022 third quarter ended June 25, Apple on Thursday said it has achieved a revenue record of USD 83 billion, up 2 per cent year-over-year.Apple CEO Tim Cook, during an earnings call, said the 83 billion dollar revenue was “better than we expected despite supply constraints, strong foreign exchange headwinds and the impact of our business in Russia”.

29 Jul 2022, 10:24:56 AM IST
Angel One says ‘ the bias remains strongly bullish’
Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One Ltd said, “Our market had shown a glimpse of some strength during Wednesday’s session and with global market boost, we managed to extend the move beyond the 16900 mark. With yesterday’s strong rally, 17000 is very much in sight now which is also closer to the ‘200-SMA’ level of 17030. Most likely, we would see index hastening towards this junction in the coming session as well and then we’ll have to see whether market participants opts to take some money there or they continue to move towards 17200. In our sense, the bias remains strongly bullish and any decline towards 16830 – 16750 should be used to go long. However having said that, it’s advisable not to get too complacent at this juncture and hence, one needs to follow one step at a time strategy.”

29 Jul 2022, 10:08:01 AM IST
India logged 20,409 new coronavirus infections; active Covid cases decline in country
India logged 20,409 new coronavirus infections pushing the total tally of COVID-19 cases to 4,39,79,730, while the active cases declined to 1,43,988, according to the Union Health Ministry data updated on Friday.The death toll climbed to 5,26,258 with 32 new fatalities, the data updated at 8 am stated.The active cases comprise 0.33 per cent of the total infections, while the national COVID-19 recovery rate was recorded at 98.48 per cent, the ministry said.

29 Jul 2022, 10:07:28 AM IST
Multibagger stock of 2022: Small-cap share rallies 45% in 5 sessions. Do you own?
Following trade pattern of capital goods index in recent sessions, shares of Kirloskar Electric Company Ltd have been skyrocketing in recent sessions. The capital goods stock has hit upper circuit in last 5 sessions generating near 45 per cent return for its shareholders. The small-cap stock has been climbing to its 52-week high for last 4 sessions as well. So, the stock is one of the potential multibagger stocks for 2022. (Full Report)

29 Jul 2022, 09:40:13 AM IST
Tata Steel up 4%

View Full ImageTata Steel

29 Jul 2022, 09:37:23 AM IST
Axis Securities gives BUY recommendation on Aarti Drugs, Maruti Suzuki after quarterly results
Aarti Drugs: We believe the company’s profitability might be hit due to the above factors, prompting us to recommend a HOLD rating on the stock with TP ₹435/share.Maruti Suzuki: The near-term uncertainty of chip shortages shall be offset by tailwinds on account of better product portfolio, lower commodity SUV segment along with existing product upgrades, which should drive the margins to improve in H2FY23. Recommend BUY at target price ₹9900/share

29 Jul 2022, 09:30:30 AM IST
All sectoral indices are in green except Pharma and PSU banks. Dr. Reddy drags

View Full ImageSectoral Indices

29 Jul 2022, 09:25:53 AM IST
Sensex gains 600 points at start. Nifty crosses the 17,000 mark
Bajaj Finserv and Tata Steel were among the top performers in the morning. However, Dr. Reddy Laboratories was down 4%.

View Full ImageSensex Open

29 Jul 2022, 09:05:26 AM IST
India to have around 900 million internet users by 2025: Report
Around 346 million Indians are engaged in online transactions including e-commerce, and digital payments, according to a report published by the Internet and Mobile Association of India (IAMAI). The data revealed that this number is greater than the total US population engaged in digital transactions which is estimated at 331 million.The IAMAI report titled ‘Internet in India’ stated that the global coronavirus pandemic has witnessed a record increase of 51% from 230 million in 2019 in India, in online transaction in the past two years. (Full Report)

29 Jul 2022, 09:04:12 AM IST
Sensex pre-opens in green, up 0.5%

View Full ImageSensex preopen

29 Jul 2022, 08:46:00 AM IST
Religare Finvest fund diversion case: Sebi imposes ₹60 crore fine on Singh brothers, 8 others
Capital markets regulator Sebi on Thursday imposed a penalty totalling ₹60 crore on 10 entities, including Malvinder Mohan Singh and Shivinder Mohan Singh, in a case involving the diversion of funds of Religare Finvest.In addition, the Singh brothers have been barred from the securities market for three years, or till the recovery of the diverted money along with interest, while other entities have been prohibited for two years.They have been directed to pay the penalty within 45 days, according to an order passed by the Securities and Exchange Board of India (Sebi).

29 Jul 2022, 08:45:18 AM IST
Gold jumps ₹592; silver rallies ₹1,335 on Thursday
Gold in the national capital on Thursday jumped ₹592 to ₹51,750 per 10 grams, amid a rally in international precious metal prices, according to HDFC Securities.In the previous trade, the yellow metal finished at ₹51,158 per 10 grams.Silver also surged by ₹1,335 to ₹56,937 per kg from ₹55,602 per kg in the previous trade.

29 Jul 2022, 08:43:34 AM IST
Amazon posts 2Q loss but revenue tops estimates, stock jumps
Amazon on Thursday reported its second-consecutive quarterly loss but its revenue topped Wall Street expectations, sending its stock sharply higher.The Seattle-based e-commerce giant also said it is making progress in controlling some of the excess costs from its massive expansion during the Covid-19 pandemic.Amazon lost $2.03 billion, or 20 cents per share, in the three-month period ended June 30, driven by a $3.9 billion write-down of the value of its stock investment in electric vehicle start-up Rivian Automotive.

29 Jul 2022, 08:33:26 AM IST
PVR Inox merger: How shareholders of this stock may earn 6.7% premium
Shares of multiplex chains PVR and INOX have been surging after the SEBI’s nod for the merger of the two multiplex chains. Both the stocks have surged more than 11% in the last month and market analysts are still bullish on both the stocks as INOX PVR merger would lead to the emergence of the largest multiplex chain in India that will cover more than 80% of the multiplex market in India with around 1500 screens. However, there is a catch for PVR shareholders who can earn around 6.7% from this PVR INOX deal even when there is no movement in both the stocks till the amalgamation process is complete. (Full Report)

29 Jul 2022, 08:30:12 AM IST
Alibaba Selloff Extends Into 3rd Day as Earnings Woes Dominate; drags Hang Seng 1.5%
Shares were down as much as 4.5% in Hong Kong on Friday, among the biggest decliners on the Hang Seng Tech Index. The tech giant is expected to report its first-ever negative quarterly revenue growth next week.The Hang Seng Tech Index fell as much as 1.5% to trade below its 50-day moving average. Other big decliners included Bilibili Inc. and JD Health International Inc.

29 Jul 2022, 08:18:05 AM IST
India’s first global gold exchange IIBX to allow jewelers import precious metal
India’s first global gold exchange — India International Bullion Exchange (IIBX) — aims to create a regional bullion hub that will allow more jewelers to import the precious metal, Bloomberg reported on 29 July. The exchange is expected to attract dealers, refineries and foreign banks.The spot exchange will be launched on Friday by Prime Minister Narendra Modi, and trade will be in the form of bullion depository receipts.

29 Jul 2022, 08:16:56 AM IST
OPEC+ meeting on Aug. 3: Oil prices rise on tight supply
Oil prices gained about $1 in early trade on Friday, lifted by supply concerns and a weaker U.S. dollar as attention turns to what OPEC and allies including Russia agree at a meeting next week marking the end of their 2020 output reduction pact. (Full Report)

29 Jul 2022, 08:13:36 AM IST
Asian shares mixed as markets bet on more gradual rate hikes
Asian stocks took their cue on Friday from a late rally on Wall Street, as markets focused on a possible slowdown in the pace of rate hikes rather than a U.S. recession after data showed its economy shrinking for a second straight quarter.MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.41%. Japan’s Nikkei share average opened up 0.36%. However, China’s and Hong Kong’s composite went in red after a strong opening. 

29 Jul 2022, 08:00:15 AM IST
Bank credit rises 12.89%; deposit 8.35%: RBI data
Bank credit rose by 12.89% to ₹122.81 lakh crore and deposits by 8.35% to ₹168.09 lakh crore in the fortnight ended July 15, showed RBI data released on Thursday.In the fortnight ended July 16, 2021, advances stood at ₹108.78 lakh crore and deposits at ₹155.14 lakh crore, according to the Reserve Bank of India’s (RBI) Scheduled Banks’ Statement of Position in India as on July 15, 2022.

29 Jul 2022, 07:48:54 AM IST
Adani Group plans IPO for NBFC unit
After FMCG subsidiary Adani Wilmar, Asia’s richest man, Gautam Adani is now planning to launch an initial public offering (IPO) of its non-bank lender Adani Capital. The NBFC is planning to raise approximately ₹1,500 crore ($188 million) through the issue. The IPO is expected to launch in early 2024.

29 Jul 2022, 07:36:35 AM IST
5G spectrum auction stretches to 4th day; bids worth ₹1,49,623 crore received so far
The auction of 5G spectrum for ultra high speed internet services will stretch to the fourth day on Friday, after 16 rounds of bidding conducted so far fetched bids worth ₹1,49,623 crore.Billionaire Mukesh Ambani’s Reliance Jio, Sunil Mittal-led Bharti Airtel, Vodafone Idea and a unit of billionaire Gautam Adani’s flagship Adani Enterprises are in the race to bid for 5G spectrum, that offers speeds about 10 times faster than 4G and lag-free connectivity.

29 Jul 2022, 07:35:34 AM IST
European gas prices slide as Russian flows steady at low levels
European natural gas prices fell after Russian pipeline flows stabilized, albeit at levels far lower than the continent’s economy needs.Shipments through the Nord Stream pipeline to Germany, the main gas link to the European Union, remain stable after Gazprom PJSC cut them to 20% of capacity. Deliveries via Ukraine, which initially looked like they might fall, were steady Thursday.Futures declined 3.1% after surging 33% over the previous six days. On Wednesday they hit their highest level since early March, during the first weeks of Russia’s war in Ukraine. Soaring prices for fuel have been fanning inflation and hurting the continent’s economy.

29 Jul 2022, 07:34:33 AM IST
IMF downgrades Asia Pacific forecast as shocks keep rolling
The International Monetary Fund has lowered its growth forecast for the Asia Pacific region this year to 4.2% — 0.7 percentage point lower than it expected in April, and well below the region’s 6.5% growth in 2021.The fund also cut its 2023 forecast for the area to 4.5%, down by 0.6 percentage point.Much of the downgrade reflects the ongoing spillover from shocks including Russia’s invasion of Ukraine, China’s economic slowdown and rising global interest rates.

29 Jul 2022, 07:32:39 AM IST
FMCG volume growth slowed in May as buyers cut spending
Volumes of fast-moving consumer goods grew 4% in the 12 months ended 31 May, down from 7% in the year-ago period, showed data from research firm Kantar Worldpanel, which tracks household consumption.The deceleration in growth points to a moderation in demand for products, such as shampoos, toilet cleaners and detergents. Consumers had stocked up on the products in the initial months of covid and re-prioritized their shopping baskets as high commodity inflation ate into household budgets, it said. (Full Report)

29 Jul 2022, 07:30:31 AM IST
Rupee rises 22 paise to close at 79.69 against US dollar on Thursday
The rupee appreciated 22 paise to close at 79.69 against the US dollar on Thursday, as a rally in the domestic equities and less hawkish signals from the US Fed triggered risk-on sentiments in the markets.Fresh foreign capital inflows also supported the domestic unit, forex traders said. However, elevated global crude prices and a strong greenback overseas capped the rupee’s gain, they added.

29 Jul 2022, 07:28:48 AM IST
Wall Street ends up sharply for the second day
U.S. stocks on Thursday rallied for a second day, with all three major indexes ending up more than 1% as data showing a second consecutive quarterly contraction in the economy fueled investor speculation the Federal Reserve may not need to be as aggressive with interest rate hikes as some had feared.

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