Why ITC’s stock tumble 4 per cent on Monday?
Diversified conglomerate ITC Ltd.’s decision to demerge the hotel business into a wholly owned subsidiary sent the company’s stock price crashing by nearly four per cent on Monday. According to Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities, the hotel division had been a capital guzzler while contributing less than five per cent […]
Deccan Gold, Thiriveni Earth Movers to infuse ₹60 crore into Geomysore by August
Deccan Gold Mines Ltd has announced that Jonnagiri Gold Mining Project of Geomysore Services (India) Private Limited at Andhra Pradesh, that key shareholders of Geomysore – Thriveni Earth Movers Pvt Ltd and Deccan Gold Mines Limited – have agreed to infuse ₹60 crore of Equity Capital into Geomysore by the end of August. Stock under bull […]
FPIs stay invested in Indian equities; put in ₹43,800 cr this month
Indian equity markets continue to draw foreign portfolio investments as foreign investors put in ₹43,800 crore in July so far on stable macroeconomic fundamentals, steady earnings growth, and challenges faced by the Chinese economy. With this, inflow in the equity market reached ₹1.2 lakh crore so far this year, data with the depositories showed. Market […]
Zinc prices likely to rebound to $2,800-3,000/tonne level around December: Hindustan Zinc CEO
Zinc prices are expected to firm up towards the end of the year to around $2,800 – 3,000 per tonne levels if the current green shoots witnessed in the US and China sustain while Europe maintains an economic status quo, said Arun Misra, MD and CEO, Hindustan Zinc Ltd. Zinc demand in India is expected […]
MSCI blames technical issue for sudden plunge in India Index
Global index provider MSCI Inc. cited incorrect pricing caused by a technical issue as the reason for a sudden plunge in an India gauge on Friday. “Due to a technical issue, the opening price of a security in the MSCI India Index was incorrect,” Melanie Blanco, head of external communications, Americas, wrote in an emailed […]
Infosys crashes over 8% as analysts downgrade on weak guidance
Shares of Infosys tanked over eight per cent on Friday as most analysts bearish on the stock after the IT major reported a lower-than-expected 11 per cent rise in net profit for the June quarter and slashed its FY24 growth outlook. The stock plunged 8.18 per cent to settle at ₹1,330.40 on the BSE. During […]
Stock to buy today: Mazagon Dock Shipbuilders (₹1,819.9)
Mazagon Dock Shipbuilder’s stock price has sharply risen since April. It found support at around ₹620 and embarked on an uptrend. The bull trend is still valid, and the stock has broken out of resistance on Thursday, opening the door for further rallies, especially on Friday. Read: Why the stock of Mazagon Dock is a good diversification bet Therefore, […]
Veranda learning partners with PHIRE: Shares decline by 0.59%
Chennai-based Veranda RACE, a subsidiary of Veranda Learning Solutions, has joined hands with PHIRE, a placement-oriented training company for the private banking and BFSI sectors. The alliance resulted in a decline in shares by 0.59 per cent on the BSE. Also read: Veranda Learning acquires 7 companies valued at ₹400 crore The association aims to […]
Wheat prices may soar in short-term on Russia calling off Black Sea grain deal
Global wheat prices have gained over 10 per cent since the beginning of this week and continue to gain after Russia pulled back from the Black Sea Grain Initiative (BSGI) and attacked the Port of Odesa, the gateway to Ukrainian grain exports. At 7.15 pm IST, wheat futures on the Chicago Board of Trade surged […]
Indian shares set for flat start ahead of key earnings
Indian shares are set to open little changed on Wednesday, amid improved global cues, with investors awaiting June-quarter earnings of top firms later this week. GIFT Nifty on the NSE International Exchange was down 0.01% at 19,801 as of 8:02 a.m. IST. Both the Nifty 50 and the Sensex hit fresh highs for the third […]