Category: BUSINESS

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At close, Nifty was up 0.01 per cent or 2.9 points at 19396.5. Volumes on the NSE continued to be on the lower side. Broad market indices gained 0.9-0.95 per cent outperforming the Nifty even as the advance decline ratio remained firm at 1.79:1.

A sharp spike in US bond yields is impacting capital flows to emerging markets like India, says V. K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Investor sentiment remains subdued due to the high volatility of the global currency market, leading to a high depreciation of EM currencies, which affects the performance of equities, says Vinod Nair, Head of Research at Geojit Financial services.

The announcement was made through a notification on Saturday. This notification shall come into force with immediate effect, and will remain in force up to and inclusive of the December 31, 2023.

Benchmark indices ended in the red on Friday on the back of profit taking seen in IT stocks as well as PSU stocks, said S. Ranganathan, Head of Research at LKP Securities.

BSE has informed trading members of the Exchange that effective from Monday (August 21), the equity shares of Jio Financial Services Ltd (formerly known as Reliance Strategic Investments Limited) shall be listed and admitted to dealings on the Exchange in the list of T Group of Securities.

Further weakness in the market will make valuations reasonable. Long-term investors can utilise market corrections to buy high quality stocks in growth sectors like capital goods, banking, automobiles and construction, he said.

The Gangwal family of Interglobe Aviation is reportedly raising $450 million or around Rs 3,735 crore via a block trade in the ongoing stake reduction exercise of the co-founder of Indigo Airlines, Rakesh Gangwal, as per media reports.

The government on Monday raised the windfall tax on domestically-produced crude, diesel and aviation turbine fuel (ATF) or jet fuel. The windfall tax on crude oil will increase from Rs 4,250 to Rs 7,100 per tonne, according to a gazette notification issued on Monday.

India's retail inflation measured by consumer price index (CPI), saw a huge rise to 7.44 per cent in July owing to hike in food prices, as food inflation witnessed a massive jump of 11.51 per cent. 

The market would trade cautiously ahead of India’s inflation data to be released on Monday, which is expected to rise in July on account of high vegetable prices. On account of the Independence Day holiday on Tuesday, the market might remain lackluster, he added.

The indication from the Reserve Bank of India (RBI) is that a rate cut can be expected only in Q1 of FY 25 and this will be a headwind for the market, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

ZEEL’s 1Q results exceeded expectations with Revenue/EBITDA coming 6 per cent/29 per cent above abobe estimate, JM Financial Institutional Securities said in a report.

The Reliance Asset Reconstruction Company (RARC), a subsidiary of Reliance Capital Ltd., has challenged the Reserve Bank of India's Master Circular on the Swiss Challenge Mechanism as being discriminatory, unjust and arbitrary.

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) decision suck out over Rs one trillion from the system which will result in loss of income for the banks and hardening of the money market, said experts.

The MPC also decided to make the scheduled banks maintain an incremental cash reserve ratio (I-CRR) of 10 per cent on the increase in their net demand and time liabilities (NDTL) between May 19 and July 28.

Pluckk, India's leading lifestyle-oriented fresh fruit and vegetables brand, is proud to announce its exciting partnership with renowned Bollywood actress Kareena Kapoor Khan.

Beyond game development studios, the company’s investments span diverse and complementary sectors, including, Esports, multimedia entertainment, content creation and audio platforms. 

Rice prices soared to the highest levels in almost 15 years in Asia on mounting concerns over global supplies as dry weather threatens production in Thailand and after top shipper India banned some exports, media reports said.

The roll-out has been done in accordance to the norms set by the Department of Telecommunications (DoT) for complying to the minimum roll-out obligation criteria, the telecom major said in a statement.

Tata Group-owned BigBasket’s B2B arm Supermarket Grocery Supplies Pvt Ltd’s losses widened 21 per cent to Rs 215.2 crore in FY23, the media reported on Wednesday.

The cost of preparing a vegetarian thali at home has gone up by 34 per cent while that of a non-vegetarian thali went up by 13 per cent in July as compared to the input prices that prevailed in June 2023, CRISIL said in a report.

The Supreme Court on Monday refused to interfere with the order of the Delhi High Court allowing aircraft lessors of cash-strapped Go First airline to inspect their aircraft at least twice a month to carry out maintenance work.

According to Pranav Haldea, Managing Director, Prime Database Group, this was on account of profit booking by LIC, mutual funds as also retail and HNI investors with markets reaching all-time highs. Net inflows from DIIs stood at just Rs 3,368 crore during the quarter.

In a significant ruling, the Supreme Court on Friday dismissed Chinese smartphone brand OPPO’s plea against a Delhi High Court order which directed the company to deposit 23 per cent of the amount generated from its sales in the country for infringing upon Nokia's patent.