Metal prices will likely rise a tad globally in 2024, says BMI
Metal prices will likely see a marginal improvement in 2024 in the global commodities market due to weak Chinese demand and deceleration in global growth, research agency BMI, a unit of Fitch Solutions, has said. However, the World Bank expects a further decline in metal prices from 2023 levels on slowing demand and ample supply […]
Jewellery recycling to touch 150 tn as gold prices soar
With gold prices testing new highs, jewellery recycling is all set to hit 100-150 tonnes this month against 80 tonnes logged last month. Also read: Time opportune to revisit India’s gold policy: SBI’s eco research team Gold prices have jumped ₹1,863 per 10 gram to close at ₹62,415 on Friday against ₹60,579 on November 7. […]
SEBI chief bats for smaller SIPs, sachetisation of MFs
SEBI chairperson Madhabi Puri Buch said on Friday that the regulator is working with the mutual fund industry to make it viable for the latter to offer systematic investment plans, or SIPs, of as low as ₹250 per month. This will allow greater participation in MFs from the bottom of the pyramid, and is in […]
GQG Partners boards GMR Airports, Softbank sells 1.1% stake in Zomato
GQG Partners has acquired a significant stake in GMR Airports Infrastructure through block deals. Exchange data showed that the investment company has acquired a 4.7 per cent stake in the airport operator for about ₹1.672 crore at a price of ₹59.09 a share. More than 12 per cent of equity had changed hands on the […]
MRF breaches ₹50,000-crore market cap
Shares of MRF Ltd on Friday breached the ₹50,000-crore market cap on Friday as they were on a roll in the last few months. The stock closed at ₹1,17.916.10 on the BSE, up 0.41 per cent, over previous day’s close ₹1,17,430.80. Today’s gain pushed the market-cap to ₹50,009.90 crore. MRF hit a 52-week high of […]
Stock to buy today: JSW Energy (₹458.20) – BUY
The short-term outlook is bullish for JSW Energy. The stock price has surged over 7 per cent so far this week. Immediate resistance is at ₹464. But the strength of the price action on the charts keeps the chances high for the stock to breach this hurdle. Moving average cross over on the daily chart […]
Lord’s Mark Industries to raise $500 cr via IPO
Lord’s Mark Industries, a diversified business group, plans public listing in the first half of 2024 to raise Rs 500 crore. The company will invest the proceeds in its subsidiaries to develop medtech products and diagnostic solutions, grow its pathology lab services pan-India, and export medical diagnostic products and machines. Sachidanand Upadhyay, Managing Director, Lord’s […]
Broker’s call: JSW Infra (Buy)
Target: ₹255 CMP: ₹238.95 JSW Infrastructure (JSWIL) in its filing has announced the acquisition of a majority stake (50 per cent equity plus 1 share) in PNP Port Maritime Service Pvt Lt d (PNPL) from Shapoorji Pallonji Group for a cash consideration of ₹270 crore (enterprise value of ₹700 crore, 16.7xFY23 EV/EBITDA as per our […]
Cupid share price inches up following land acquisition in Mumbai
Cupid Limited has acquired a land parcel in an industrial area near Mumbai to expand its production capacity by 1.5 times the existing output. The capacity expansion will be funded entirely through internal accruals, with no reliance on borrowings. Managing Director Aditya Halwasiya said, “This expansion is expected to add ₹240 crore to our revenues […]
Ambuja Cements increases Sanghi Indus’ open offer price
Gautam Adani-led Ambuja Cements has increased the open offer price for Sanghi Industries to ₹121.90 a share from ₹114.22 as the company completed the deal to acquire shares from the erstwhile promoters. Ambuja Cements had acquired 14 crore equity shares of Sanghi Industries, representing 54.51 per cent equity at ₹121.90 per equity share from the […]