Cost of your caffeine and sugar fix to stay high on El Niño
There’s an aisle of the grocery store where inflation is looking exceptionally sticky: indulgent treats. Think coffee, chocolates and your favourite snacks. Prices of soft commodities have soared this year because of supply constraints. The return of El Niño and prospects of hotter, drier weather in producing countries is now threatening to exacerbate tight supply. […]
CPPIB sells 1.7 per cent stake in Kotak Bank for ₹6,123.6 crore
Canada Pension Plan Investment Board (CPPIB) sold 3.3 crore shares or 1.7 per cent of the equity of Kotak Mahindra Bank in block deals on the BSE on Friday at an average price of ₹1855.64, exchange data showed. The total deal value was ₹6,123.6 crore. The sale of shares by the pension fund was done […]
Logistics company Western Carriers files DRHP
Kolkata-based Western Carriers (India) Ltd, a multi-modal, rail-focused, asset-light logistics company, has filed its draft red herring prospectus (DRHP) with capital markets regulator SEBI to raise funds through an initial public offering (IPO). According to the DRHP, the IPO comprises of a fresh issue of equity shares aggregating up to ₹500 crore and an offer […]
HAL board meets on June 27 to consider stock split
The board of directors of Hindustan Aeronautics will meet on June 27 to consider a proposal of sub-division of equity shares of the company. The stock on Thursday hit an all-time high of ₹3,546.65 before closing at ₹3,527.70, up 1.12 per cent over previous day’s close of ₹3,488.70. Earlier in 2021 also, the company had […]
Nifty prediction for today – June 8, 2023: Go long now and at 18,805
Nifty 50 June Futures (18,836) The Nifty 50 and Sensex continue to display resilence, with both indices are up about 0.26 per cent each. The Sensex is currently trading at 62,321 points, while the Nifty at 18,776 points. The overall outlook remains bullish, with the Nifty expected to rise to 18,900-19,000 in the next few […]
Cut in expense ratio of MFs will lead to lower tax collection
The new total expense ratio (TER) structure, proposed for mutual funds (MFs) by SEBI, will lead to lower GST and tax collection from the industry as the overall spend and profitability will come down. In a bid to bring down the cost for investors, SEBI has proposed to shift the TER of MFs from scheme […]
EPAM Systems scare bruises IT stocks
Information technology stocks came under heavy pressure on Tuesday after US-based EPAM Systems cut its current quarter and full-year revenue and profit outlook. In a see-saw session, the 30-share BSE Sensex and Nifty managed to close in the green, but Nifty IT index closed 1.88 per cent lower. However, the BSE Smallcap edged up 0.42 […]
NSE shifts Bank Nifty settlement from Thursday to Friday
The National Stock Exchange (NSE) has shifted the settlement of derivative contracts on Bank Nifty from Thursday to Friday. In a release, the exchange said the change will be effective from July 14and accordingly, all existing contracts with Thursday expiry will be revised to Friday on July 6. “The first Friday expiry will be on July 14, […]
Trading volumes in commodity exchanges dip on high margin cost
Trading volumes on the commodity exchanges are rapidly dropping due to the emergence of the unofficial dabba market and the levy of stiff upfront margin on trades on exchanges. The trading volume on NCDEX plunged 55 per cent in the year ended March to ₹2.07 lakh crore against ₹4.57 lakh crore logged in the same […]
RBI interest rate decision, global trends to drive markets this week: Analysts
The Reserve Bank of India’s interest rate decision, domestic macroeconomic data and global trends will dictate terms in the equity markets this week, analysts said. Trading activity of Foreign Portfolio Investors (FPIs) will also influence markets, they added. “The Indian market will be closely monitoring the Reserve Bank of India’s Monetary Policy Committee (MPC) meeting […]