Category: BUSINESS

• Market
• Corporate
• Share market
• Personal Finance

Beauty and fashion ecommerce giant Nykaa's CEO Falguni Nayar will now lead herself lead the marketing department of the company after the exit of six executives, including the marketing head, according to media reports.

India's economic growth efforts could get the tailwinds from its geopolitical position, said S&P Global Ratings in a report on the country's quest for stable and high economic growth.

The macro challenge in the decade ahead will be to achieve sustained high, stable and inclusive growth, which has thus far been elusive, S&P Global said in a report titled India's Moment.

Rupee weakness continued further below 82.75 down by another 18 paisa as dollar index rising above 102.50 kept added pressure on rupee fall as risky assets showed sell off, says Jateen Trivedi, VP Research Analyst at LKP Securities.

Morgan Stanley has upgraded India to overweight. India rises from number 6 to number 1 in our process, with relative valuations less extreme than in October, while MS macro, strategist and bottom-up analyst scores reflect MS' Blue Paper thesis on India's Decade.

Leading US asset manager Vanguard has further slashed its holding in ride-hailing major Ola by more than half, which takes Bhavish Aggarwal-run company’s valuation down to nearly $3.5 billion from $7.3 billion at the end of 2021, the media reported on Tuesday.

For the first time in India’s history, a majority of the promoters and executive directors of Nifty50 companies are neither foreign educated nor educated at the elite IITs & IIMs, says a research by Marcellus Investment Managers.

Karnataka Large and Medium Industries on Monday said Karnataka government had a ‘fruitful’ meeting with the iPhone maker Foxconn about the projects for which the company is keen to invest in the state.

Retail giant Walmart has reportedly paid $1.4 billion to acquire VC form Tiger Global’s remaining shares in the e-commerce major. According to a report in Wall Street Journal, Walmart has paid the money to boost Flipkart’s stake.

There seems to be no respite for the people from the rising prices of tomatoes in Tamil Nadu as the wholesale price of the vegetable touched Rs 200 per kilogram in the state capital and many towns on Sunday.

It appears that the momentum of buying has slowed down and FPIs have turned sellers during the last two trading days, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The Dow, up 7 per cent for the year, was flat on Thursday after rallying in recent weeks as cooler-than-expected inflation data has investors more optimistic that a soft landing, or no recession, could be in the cards for the economy, CNN reported.

Globally market participants will be closely watching US Federal Reserve chief Jerome Powell’s comments about the disinflation process in the US and the likely trend in interest rate, says V.K, Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

In the last two days, FPIs have sold stocks worth Rs 2,081 crore indicating buying exhaustion, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

For investors, the market is buys on dips with a strict stop loss of 19500, and if the Nifty closes below the indicated level, we can expect more profit booking, says Deven Mehata, Equity Research Analyst, Choice Broking.

India may be sending spacecraft to orbit the Moon and Mars, and plans to send one to study the Sun and Venus, and finally, humans to space in the last four decades of this century, but its presence in the global space sector market is a mere two-three per cent.

FPI flows into India continue unabated in July, too. India is the largest recipient of FPI flows YTD among emerging markets, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Reliance Industries Limited posted consolidated revenues of Rs 231,132 crore ($28.2 billion), down 4.7 per cent YoY, for Q1 FY2023-24 due to sharp decline in O2C revenues with 31 per cent fall in crude oil prices.

The substantial cut in the guidance is majorly attributed to lower-than-expected volume and discretionary spends, delays in decision-making and push-outs in anticipated mega deals, the report said.

Barring the US, India is the most expensive market in the world now, Vijayakumar added. At high valuations, some negative triggers can lead to sharp correction. But in the near-term the party may continue.

Nifty opened flat on Thursday, but soon gained momentum to close with handsome gains of 146 points at 19,979 levels, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.

Comparing the newly discovered ex-JFSL price of RIL shares, and the pre-demerger cum-JFSL share price on the previous day, the market has valued each JFSL share at Rs 261.85 on the NSE.

The market discovered price of Rs 261.85 per share of Jio Financial Services has come much higher than most brokerages' estimates, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Indian benchmark indices continued the winning run for the fifth consecutive session on July 19, amid buying across sectors, said Vikram Kasat, Head Advisory, Prabhudas Lilladher.

After witnessing high volatility at the highs on Tuesday, Nifty witnessed choppy movement for mid part and sharp upsurge in the later part of Wednesday and closed the day higher by 83 points, says Nagaraj Shetti, Technical Research Analyst, HDFC Securities