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 […]
FPI selling in Indian stocks moderates in first half of February, show NSDL data
Foreign portfolio investors (FPIs) selling in Indian equities moderated in the first half of February from the previous month, data from National Securities Depository Ltd. showed. FPIs sold shares worth ₹4,806 crore in the first half of February. FPI selling in Indian stocks had hit a seven-month high of ₹28,852 crore in January due to […]
Steel imports from Russia touch eight-year high in April-Jan
India’s imports of Russian steel rose to an eight-year high during the first 10 months of the financial year that began in April 2022, government data compiled by Reuters showed. India, the world’s second-largest crude steel producer, imported 281,000 tonnes of steel from Russia between April and January, nearly five times higher than the same […]
SEBI: Will freeze demat of directors, promoters if regulations are not followed
SEBI now wants to freeze the demat accounts of MD and CEO, promoters, and whole-time directors of a listed company in case of continuing non-compliance with regulations and non-payment of fines. SEBI is of the view that this will result in timely compliance and payment of outstanding fines by listed companies and ensure that MD, […]
Birla MF raises ₹1,570 crore from multi-asset NFO
Aditya Birla Sun Life AMC has collected ₹1,574 crore through its recently launched Multi Asset Allocation Fund. The open-ended scheme which invests in equity, fixed income, gold/silver, and REITs, has attracted investor interest from over 70,000 investors. The NFO closed last month. The multi asset allocation category has emerged as a popular investment option for […]
Sensex, Nifty edge lower in choppy trade amid weak global cues
Equity benchmark indices Sensex and Nifty ended marginally lower in a highly volatile trade on Tuesday as investors preferred to stay cautious ahead of the release of minutes of the Federal Open Market Committee (FOMC) meeting. The BSE Sensex edged down 18.82 points or 0.03 per cent to settle at 60,672.72. During the day, it […]
Broker’s Call: CESC (Buy)
Target: ₹95 CMP: ₹77.45 Q3-FY23 consolidated PAT of CESC declined 3 per cent y-o-y to ₹319 crore as a sharp fall in earnings from Haldia and continued losses at Rajasthan DF offset steady standalone PAT and strong growth from Noida/Crescent Power. Standalone PAT grew 1 per cent y-o-y to ₹186 crore (18 per cent above […]
Broker’s call: Samvardhana Motherson International (Buy)
Target: ₹101 CMP: ₹82.20 Samvardhana Motherson International’s (SAMIL) announcement of 100 per cent acquisition of SAS Autosystemtechnik GmbH (SAS) at EV of €540 million entails an all-round strategic fit providing entry into the new product segment (cockpit module assembly) with global leadership position (nearly 20 per cent share), meaningful acquisition size (about 10 per cent […]