Category: market

Kolkata’s iconic Jadavpur University is once again in the midst of a controversy with the dean of students Dr Subinoy Chakraborty suddenly tendering his resignation on Sunday morning.

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.

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 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 authorities in Kota have directed the educational institutes not to conduct tests on Sunday. Though the directive was already issued earlier, it has been decided to implement it strictly after Rajasthan's education hub witnessed 20 suicides in the last eight months.

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.

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 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.

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.

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.

Police have reportedly found a suicide letter from her room in which she wrote that no one was responsible for her suicide. She wrote that she was taking the extreme step due to mental stress.

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.

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.

Rajasthan's Kota, once called the coaching city for producing engineers and doctors in India, is now turning into a "suicide factory" after back-to-back cases of aspirants killing themselves on being unable to handle the pressure are being reported.

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.

The ones in West Bengal are: Indian Institute of Alternative Medicine, Kolkata; and Institute of Alternative Medicine and Research, Diamond Harbour Road, Builtech inn, Thakurpurkur.

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.

Over 600 engineering and technical institutions across the country will soon start offering "world-class" courses on semiconductor technology, All India Council for Technical Education (AICTE) chairman T.G. Sitharam has said.

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.

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.