‘Commodities are unique among asset class, provide hedge against inflation’
Commodities are effective diversifiers and unique compared with other asset classes as they provide a hedge against inflation, says Credit Suisse Research Institute’s Global Investments Year Book 2023. “Historically, commodities have had a low correlation with equities and a negative correlation with bonds, making them effective diversifiers… However, their inflation-hedging properties also mean that, in […]
Adani crisis fails to impact SMEs’ zing to tap capital markets; mainboard IPOs draw blank
Blame it on short-seller Hindenburg Research report or its fall-out, initial public offerings (IPOs) on the mainboard have drawn a blank so far this year even while 19 SME companies have braved the turbulence to raise ₹225 crore. Many IPOs on the main board have either been put-off or withdrawn due to the relentless selling […]
Sunil Mittal seeking a stake in Paytm
Sunil Mittal is seeking a stake in Paytm by merging his financial services unit into the fintech giant’s payments bank, according to people with knowledge of the matter. Mittal seeks to fold Airtel Payments Bank into Paytm Payments Bank in a stocks deal and is also seeking to buy Paytm shares from other holders, the […]
Platinum retail sales up 22% in Q4 of 2022 on weddings, festivals
Indian retail sales of platinum increased 22 per cent in the fourth quarter of 2022 powered by the wedding and festive seasons. Consumer demand drove sales despite uncertainties over the global economy, said a Platinum Guild of International (PGI) statement. Platinum continued to enjoy demand from PGI’s strategic partners too, sustaining the sales growth momentum […]
Today’s Pick: Bharat Dynamics (₹969.10): BUY
The outlook for the stock of Bharat Dynamics is bullish. The stock has moved up sharply so far this week as against the steep fall seen in the benchmark indices. The 5 per cent rise on Thursday has strengthened the upmove. The immediate support is at ₹950. Below that, ₹928 is the next strong support […]
Zee Entertainment sinks over 14% on insolvency admission
Shares of Zee Entertainment Enterprises Ltd sunk as much as 14.4% on Thursday after the National Company Law Tribunal admitted the firm under insolvency proceedings. The move comes against a petition filed by IndusInd Bank Ltd over a default of ₹83.08 crore. Zee was part of a debt service reserve account guarantee agreement with the […]
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ED raids Joyalukkas jewellery outlets in Kerala
The Enforcement Directorate on Wednesday conducted raids on the Kerala-based jewellery retailer Joyalukkas, for alleged FEMA violations. Confirming the raids, a senior official in the Joyalukkas group told businessline that the ED carried out the raids in Thrissur office alone in the morning. The officials have asked some questions and the company gave replies satisfactorily. […]
Today’s Pick: Bank of India (₹70.85): SELL
The short-term outlook for the stock of Bank of India is bearish. The stock had tumbled over 6 per cent on Tuesday signalling doward momentum. The 8-Day Moving Average (MA) has crossed below the 100-Day MA strengthening the bearish case and indicating limited upside move. The immediate resistance is at ₹73.50. Above that, a much […]
SEBI mulls regulatory framework on ESG disclosure, ratings, investing
SEBI on Monday proposed a regulatory framework on ESG disclosures by listed entities, ESG ratings in the securities market and ESG investing by mutual funds in order to facilitate balance between transparency, simplification and ease of doing business in an evolving domain. This comes amid growing recognition of the significant economic and financial impact of […]