Indian share market is expected to open in the red as trends in the SGX Nifty indicate a negative start for benchmark indices BSE Sensex and NSE Nifty 50 with a loss of 215 points. “Nifty might continue with its consolidation as global economic data points towards weakness, while brent crude has again crossed $100/bbl and dollar index continues to remain firm at 108 levels. On the other hand, FII buying amidst weak global cues and revival of demand ahead of festive season is providing support at lower levels to the market. The big event of US Fed Jackson Hole …
January 2023
Symphony Ltd posts Q2 profit surges 45.8% to Rs 35 crore, revenue falls 8.9% on-year
Air cooler maker Symphony Limited on Thursday posted second quarter profit at Rs 35 crore, up 45.8 per cent as against Rs 24 crore during the second quarter of FY23. It posted revenue from operations for the quarter ended September 2023 at Rs 275, down 8.9 per cent in comparison to Rs 302 crore during the corresponding quarter of FY23. The company’s domestic sales were recorded at Rs 191 crore despite ‘erratic summer season’. The company EBITDA stood at Rs 41 crore, up 10.8 per cent on-year. While the total income for the quarter in review was at Rs 286 …
European shares end five-day losing streak, still down for the week
European stocks rose 2% on Friday, clocking gains for the first time in six days after key U.S. jobs data eased bets of a more aggressive Federal Reserve, but logged their third straight week of falls on concerns over a spike in energy prices. The pan-European STOXX 600 rose 2.0%, but clocked a weekly decline of 2%. “If wage growth continues to moderate along with prices for goods and services the Fed may find a window to ease back on the pace of hiking, an event that would surely set up a relief rally in equities,” said Peter Essele, head …
Gold to trade sideways to down this week on hawkish signals from US Fed, strong dollar; support at Rs 50400
By Tapan Patel Commodity prices traded mixed with bullion prices declined for the week witnessing selling in the second half of the week. Base metals ended in green on tight supplies and China stimulus hopes. Crude oil prices traded higher gaining on lower supplies and expectation of OPEC output cut. Gold prices traded lower with spot gold prices at COMEX ended over half a percent down at $1738 per ounce for the week. Gold October futures at MCX fell by 0.47% to Rs. 51238 per 10 gram despite a weaker rupee. The spot rupee fell by 0.11% to 79.87 against …
US Stocks: Wall Street set for higher open as tech stocks rebound, oil drops
U.S. stock indexes were set to open higher on Wednesday as technology and growth stocks rebounded, while weaker-than-expected private payrolls data and a slide in oil prices helped ease some worries about inflation. An ADP National Employment report showed private payrolls increased by 132,000 jobs in August, falling short of economists’ forecast of job growth of 288,000, according to a Reuters poll. Any signs of a cooling job market would be welcomed by investors as it could ease the pressure on the Federal Reserve to stick to outsized rate hikes. “We continue to believe that the U.S. economy is relatively …
What should retail investors do with forthcoming IPOs? Go for listing gains or long haul | Interview
Stock markets in recent months have seen a flurry of initial public offerings (IPO) and a few more could be in the offing before the year ends. While some IPOs have helped investors pocket healthy gains, some have seen abysmal listing and then recovered losses. In such a scenario it’s best that investors study the issue or seek appropriate advice and become investors intentionally rather than unintentionally, said Aashish Somaiyaa, CEO – White Oak Capital in an interview with Kshitij Bhargava of Financial Express Online. Aashish Somaiyaa, who recently took over his new position, also shared some advice for retail …
Indian stock market investors’ wealth falls Rs 3.23 lakh crore in early trade on weak global cues
Investors’ wealth fell by Rs 3.23 lakh crore in early trade on Monday in-line with the lacklustre trend in the equity market. The BSE Sensex tanked 1,466.4 points or 2.49 per cent to 57,367.47 in morning trade. Tracking the weak trend in equities, the market capitalisation of BSE-listed firms eroded by Rs 3,23,123.54 crore to Rs 2,73,72,988.06 crore. From the Sensex pack, Tech Mahindra, Infosys, HCL Technologies, Wipro, Tata Consultancy Services, Tata Steel and Bajaj Finance were trading sharply lower. Hindustan Unilever, Maruti, Nestle and UltraTech Cement were the only gainers. “Domestic equity markets are likely to retreat sharply in …
Tamilnad Mercantile Bank sets price band of up to Rs 525 for Rs 832-cr IPO
The century-old south-based private sector lender Tamilnad Mercantile Bank (TMB) has set a price band of Rs 500-525 a share for its `832-crore initial public offering (IPO), which opens on September 5 and closes on September 7. The IPO consists of a fresh issue of 15.8 million equity shares and the bank is expected to raise more than Rs 800 crore. The stock will start trading on September 15 with a retail quota of 10%, QIB 75% and HNI 15%. TMB intends to use the net proceeds from the offering to increase its tier-I capital base in order to achieve …
Hoshangabad Madhya Pradesh Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates
Hoshangabad MP Assembly Election 2023 Details: The election for Hoshangabad Assembly Constituency in Madhya Pradesh will be held on November 17 this year. The final date of voting and result were known after the formal announcement by the Election Commission of India. Here are the important details of the Hoshangabad Constituency Assembly Election 2023 that you should know. Hoshangabad Constituency Madhya Pradesh Assembly Election 2023: Voting Date November 17 is the date of voting for the Hoshangabad Assembly Constituency Election 2023 as announced by the Election Commission of India. Hoshangabad Constituency Madhya Pradesh Election 2023: Candidates List Bharatiya Janta Party …
FPIs ramp up buying in August
By Ashley Coutinho Foreign portfolio investors (FPIs) pumped in $6.4 billion in August, the highest in the last 20 months, as investors bet that a weak US economy would slow the pace of monetary tightening by the US Federal Reserve. “Clearly, India seems to be enjoying the TINA (there is no alternative) factor as globally, all countries are facing the churn and India seems to be the best placed jurisdiction in terms of growth and inflation outlook in FY23,” a note by State Bank of India’s research wing said. Also read: Sensex, Nifty soar 2.5% in broad-based rally; here’s what …