Do the ‘Magnificent 7’ still have fire power?
The week gone by had it all. Resurfacing jitters of regional banking crisis in the US resulted in bond yields collapsing significantly in early part of the week. Then, a hawkish Fed pushing back expectations of interest rate cuts last Thursday, was followed by a significantly hotter-than-expected US monthly jobs report that resulted in yields […]
Morgan Stanley buys 50 lakh shares of One 97 Communications for ₹244 crore
Morgan Stanley Asia (Singapore) bought 50,00,000 shares of One 97 Communications, Paytm’s parent company, for ₹487.2 apiece in a bulk deal amounting to about ₹244 crore. The transaction was executed towards the end of market close on Friday, according to a source. One 97 Communications remained locked in a lower circuit for the second consecutive […]
SBI MF mops-up ₹Rs 900 crore via passive Nifty50 Equal Weight Index Fund
SBI Mutual Fund, the country’s largest fund house, has collected over ₹900 crore through its new fund offer which closed on January 29. The fund house received over 40,000 applications during the NFO period. The SBI Nifty50 Equal Weight Index Fund is an open-ended scheme replicating or tracking the Nifty50 Equal Weight Index, effectively with […]
Indices trade flat amid Budget presentation, Fed status quo
Indian equities traded flat on Thursday amid a status quo by the US Federal Reserve and a Budget speech that underscored the government’s resolve towards fiscal prudence. Also read: Budget 2024: Opens doors for prolonged tax haven for startups, Gift City units The Sensex fell 106 points or 0.15 per cent to close at 71,645, […]
Budget 2024: Rail stocks trade higher ahead of Budget
Stocks of companies related to railways were trading in the positive territory on Thursday morning ahead of the presentation of the Interim Budget. Shares of IRCON International rallied 3.26 per cent, Texmaco Rail & Engineering jumped 2.71 per cent, Indian Railway Finance Corporation climbed 2.58 per cent and Rail Vikas Nigam advanced 1.52 per cent […]
Nova Agritech makes a stellar debut
Shares of Nova Agritech made a stellar debut at the bourses on Wednesday by gaining over 43 per cent. The stock opened at ₹56 on the BSE against the IPO price of ₹41, slipped to a low of ₹55 before closing at day’s high of ₹58.79, a gain of 43.39 per cent over the IPO […]
Bajaj Finance shares slump over 5% on rising stress in B2C loan portfolios.
Shares of Bajaj Finance slumped over 5 per cent on Tuesday after the NBFC highlighted rising stress in its rural and urban B2C loans portfolios in its Q3 earnings. On January 30, the stock fell 5.4 per cent to Rs 6,805 on the NSE. However, it later pared some less to close 5.1 per cent […]
VeerHealth Care bags FDA labeller code for US launch expansion; shares up
VeerHealth Care Limited’s shares were up by 4.12 per cent after the company was allocated labeller code by USFDA under the brand Ayuveer. This allows VeerHealth Care to launch a range of body-care and skincare products in the US market. The company manufactures and exports oral care products to East African countries. It has also secured […]
Grasim rights issue of ₹4,000 cr fully subscribed
Grasim Industries, an Aditya Birla Group company, has reported that its rights issue to raise ₹4,000 crore was fully subscribed on Monday. The company has repaid ₹600 crore to investors of its commercial paper which matured on Monday. The rights issue opened for subscription on January 17 and closed on January 29, said Grasim Industries. […]
Positive global cues likely to lift Indian markets, Interim Budget and Q3 earnings in focus
After a long weekend break, the domestic market is likely to open on a positive note on Monday, thanks to positive global cues. The upcoming interim Budget on February 1 and the ongoing result season will likely anchor market movement this week. Nifty futures at 21,548 at Gift Nifty against Nifty February futures close of […]