The festive time is here again, and you must be waiting for good deals to purchase gold on auspicious days. Buying gold is not just a financial decision but also an emotional one for Indian households. Often, we miss out on key things when we decide to purchase gold. It is not just the discount or offers that we must look at but there are many factors you must consider before purchasing the precious metal. You must know that there are different forms of gold available, such as coins, bars, and jewellery. Each has its advantages and disadvantages. There are …
October 2023
US stocks rally, bond yields fall; traders undaunted by hawkish drumbeat before Powell’s Jackson Hole speech
US Stocks rallied and bond yields fell, with traders awaiting Jerome Powell’s keynote for clues on how much further the Federal Reserve will pump the brakes on the economy to bring inflation back under control. The S&P 500 closed near session highs, trimming a selloff that knocked down the market earlier in the week. Following the slowest trading day of 2022 for US equities, volume was once again below average. Megacaps like Apple Inc. and Amazon.com Inc. jumped, though Tesla Inc. whipsawed as its stock split took effect. Treasury 10-year rates traded near 3%, while the dollar slipped. Investors were …
Sequoia sells part of pre-IPO Zomato holding
Sequoia Capital India has sold a part of its pre-IPO shares in food tech platform Zomato in the open market, bringing down its stake in the company to 4.4%, Zomato said in a BSE filing. Sequoia Capital India sold 67 million shares between September 6, 2021 and October 14, 2021 and 105 million shares between June 27, 2022 and August 25, 2022 through its two investment vehicles — Sequoia Capital India Growth Investment Holdings I and SCI Growth Investments II. Also Read: Sequoia, Norwest, Tiger Global most active PE investors in CY2 According to the filing, Sequoia also received 45 …
Apple iOS 17.1 update now rolling out: Check all that’s coming to your iPhone
Apple has released iOS 17.1, the latest update to its mobile operating system. The update includes a number of new features and bug fixes, including AirDrop improvements, Apple Music updates, bug fixes and more. The iOS 17.1 update has been available in beta since last month. The official release now brings major improvements along with some tweaks and fixes. All the iPhone models that received iOS 17 will receive the update iOS 17.1. These are- iPhone XR, iPhone XS, iPhone XS Max, iPhone 11, iPhone 11 Pro, iPhone 11 Pro Max, iPhone 12 mini, iPhone 12, iPhone 12 Pro, iPhone …
India Inc’s foreign investment declines over 50 pc to USD 1.11 bn in Jul
India Inc’s foreign direct investment in July declined over 50 per cent to USD 1.11 billion in July 2022, the Reserve Bank data showed. As per the RBI data, on Outward Foreign Direct Investment (OFDI), the domestic companies had invested over USD 2.56 billion in July 2021 in the form of equity, loan and issuances of guarantees. In a breakup, the Indian businesses invested USD 579.15 million by equity infusion, USD 193.21 million as loans and USD 337.49 million infused by issuing guarantees to their overseas ventures during July 2022. Among the major investors included Reliance Industries USD 160 million …
Axis Bank’s shares gain on Q2 results; Should you buy, hold or sell the stock?
Axis Bank’s share price surged 1.52% to Rs 970, a day after the Bank posted a 10% growth in net profit at Rs 5,863 crore for the second quarter of FY24 as compared to Rs 5,329 crore in Q2FY23. The total income of the Bank in the second quarter of FY24 surged to Rs 31,660 crore compared to Rs 24, 094 crore in q2FY23. Axis Bank’s stock price fell 1.97% in the last five days and 4.55% in the last one month, while it has gained 9.11% in the last six months and 5.82% in the last one year. Should …
Canadian International School announces scholarship programme for 2024 academic cohort
The Canadian International School (CIS) Bangalore has announced its Scholarship programme for high-achieving students who will be part of the academic cohort of 2024. This programme is open to prospective Grade 9th students pursuing the International General Certificate of Secondary Education (IGCSE) and Grade 11th students enrolling in the International Baccalaureate Diploma Programme (IBDP). The application deadline for this scholarship opportunity is set for December 15, 2023, according to an official release. For those aspiring to secure an IB scholarship, a prerequisite is having attained a minimum of 80% in their prior academic year or its equivalent. On the other …
DreamFolks Services, Delhivery, Hindustan Zinc, V-Mart, Sembcorp Industries stocks in focus on September 6
Indian equity markets are likely to open higher today as ahead of the trading session, SGX Nifty was in the green, hinting at a positive start for NSE Nifty 50 and BSE Sensex. “Going forward, Nifty is likely to continue trading sideways in the absence of any major events domestically. Globally, nine central banks would meet this week for their policy announcement while the new UK Prime Minister would also be announced, which could drive the global markets in the near term,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services. Stocks in focus on 6 September, Tuesday …
Bharti Airtel Rating: buy; Equity overhang risk looms
Singtel’s 3.3% stake sale to Bharti Telecom (BTL) will drive a 1.7% increase in shareholding of the Mittal Family to 25.5%, which we view positively. However, it will increase BTL’s debt, which will need higher dividends from Bharti for servicing interest and will eventually lead to BTL selling stake in Bharti Airtel to repay the debt. While this may be an overhang in the medium term, we maintain Buy with revised PT of Rs 855 given its strong growth outlook. Singtel’s stake sale in Bharti…: Singtel’s decision to sell 3.3% direct stake has been driven by its aim to monetise …
Tata Power Company Rating: Add | Best-placed pvt company in sector
We attended Tata Power Company’s (TPWR’s) analyst meet during which the company highlighted the growth strategy for its several businesses over FY23-FY27. TPWR has a clear focus on clean and green growth as is evident from the fact that 80% of the estimated Rs 1-trn capex over FY23-FY27 will be on green businesses. With this, the company aims to grow its revenue and PAT 3x and 4x from the FY22 levels of Rs 426 bn and Rs 23 bn, respectively, and simultaneously improve shareholder returns. Apart from the 5-year green business targets to improve its leadership positions [helped by the …