FPIs infuse ₹8,400 crore in equities this month on global uncertainty, China concerns
Foreign Portfolio Investors (FPIs) have infused close to ₹8,400 crore in Indian equities so far this month primarily due to uncertainty in the global markets, economic concerns in China, and stability of the domestic economy. With the global economic mood getting challenging due to slackening Chinese demand, any weakness in global equities […]
Meta Platforms Emerges as a Promising Choice Amid AI Evolution
This year has undoubtedly belonged to the pack of stocks referred to as the Magnificent Seven. Till early June, which was when the YTD rally in the US markets started getting broader, this group alone had accounted for over 80 per cent of the upside in the Nasdaq 100 index (up 33 per cent till […]
Broker’s call: Ircon Intl (Buy)
Target: ₹142 CMP: ₹100.22 In Q1FY24, the company reported a notable increase in revenue, reaching ₹2,717.20 crore, which marked a substantial 36 per cent year-on-year growth. However, there was a decline of 28 per cent in revenue compared to the previous quarter. The EBITDA for the same period amounted to ₹208.80 crore, indicating a commendable […]
Jio Financial shares to be listed on August 21, remain part of FTSE indices
Following the de-merger from Reliance Industries, shares of the financial subsidiary Jio Financial Services will be traded on the bourses from August 21, the first such listing for the Reliance Group in the last 17 years. The share price was set at ₹261.85 in a price discovery session on July 20, valuing the company at […]
Crude oil dips as Chinese property crisis roils market
Brent crude oil futures traded marginally lower on Friday morning. The oil market is set to end the week lower as the economic slowdown in China further deepened with the property sector crisis in that country. At 9.54 am on Friday, October Brent oil futures were at $84.11, down by 0.01 per cent, and September […]
Global cotton production likely to decline next season
Global cotton production will likely decline next season (October 2023-September 2024) by three per cent, while consumption may remain stagnant and ending stocks could be lower. However, China holds the key to prices as any drop in demand from the Communist nation could limit the upside to prices, analysts have said. As a result, global […]
IndiGo co-Founder Gangwal’s wife sells her entire stake in airline
IndiGo airline’s co-founder Rakesh Gangwal’s wife Shobha Gangwal, who is part of the promoter group, sold her entire near 3 per cent stake in the airline for ₹2,801.7 crore, exchange data showed. She sold over one crore shares, at prices ranging from ₹2,426.21 to ₹2,440.92 on the BSE. The identity of the buyer could not […]
Swan Energy shares rise following robust quarterly performance
Swan Energy’s shares were up by 3.76 per cent after the company reported a 192 per cent profit increase for the quarter ended June 30, 2023, at Rs 144.82 crore. The company’s revenues were up by 208 per cent to Rs 804.29 crore . Sequentially, profits were higher by 133 per cent. The shares were up […]
IndiGo co-founder looks to sell 4% stake
IndiGo co-founder Rakesh Gangwal is looking to raise over ₹3,730 crore by paring down his stake in the airline via block trade scheduled for Wednesday. Gangwal has offered around 15.6 million shares for sale equal to 4 per cent stake in the airline at a floor price of ₹2,400 per share. The offer price is 5.8 […]
India raises windfall gain tax on diesel and jet fuel
Finance Ministry on late Monday notified raising windfall gain tax on domestically produced crude and export bound diesel while reimposed on jet fuel. An increase has been finalised due to a rise in crude oil prices in the global market. According to a notification issued by the Ministry, Special Additional Tax Duty (SAED), better known […]