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30.11 / 06:57
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5 factors that can propel Nifty 50 to fresh peaks in December
₹4,687 crore in November so far. State election outcomes, interest rate trajectory in the US, and geopolitical issues are some of the key factors that will move the market in December. "Favourable outcome of state elections, reinforcement of the belief that the top of rate hike cycle is behind us globally and any favourable development in the two geopolitical conflicts are some factors that can take the Nifty higher in December," said Deepak Jasani, Head Retail Research, HDFC Securities.
30.11 / 06:57
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Raymond Stock Check: Down 13% in November, should you buy now?
Raymond has been in focus this month amid reports that Chairman Gautam Hari Singhania's estranged wife Nawaz Modi has demanded 75 percent of his fortunes. The couple announced separation earlier this month. Nawaz Modi, the estranged wife of billionaire industrialist Gautam Singhania, has come out with allegations of physical abuse against her husband.
30.11 / 05:59
Manufacturing
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Asia FX rally stalls on China weakness, dollar steadies before PCE data
Investing.com-- Most Asian currencies kept to a tight range on Thursday tracking weak economic signals from China, while the dollar steadied from recent losses as markets awaited a key inflation reading due later in the day.
30.11 / 04:51
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Nepal makes history as first South Asian nation to formally register same-sex marriage
Nepal officially records its inaugural same-sex marriage five months after it was legalized by the Supreme Court. As reported by PTI, 35-year-old trans-woman Maya Gurung and 27-year-old gay man Surendra Pandey legally married at Dordi Rural Municipality in the Lamjung district of Western Nepal, as confirmed by Sanjib Gurung (Pinky), the president of Blue Diamond Society—an organization dedicated to the rights and well-being of sexual minorities in Nepal.
30.11 / 04:47
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Updates
Assembly Elections 2023 Exit Poll Live Updates: Who will win Rajasthan, Telangana? Poll predictions to be released soon
Stay tuned to this LIVE MINT live blog for all the latest updates on exit poll results 2023:A survey agency tries to gauge the likely result of an election through an exit poll. Voters are asked, after they exit the polling station who they voted for, hence this is called an ‘exit poll’.Last month, the Election Commission of India (ECI), while announcing the poll schedule for five states (Chhattisgarh, Madhya Pradesh, Mizoram, Rajasthan, Telangana), banned exit polls between 7 am on November 7 and 6:30 pm on November 30.Harsh Goenka, the chairperson of the RPG Group, took to social media to share the poll predictions as per the "betting market (satta bazaar)". Here's what it showed.Mizoram Assembly Election 2023: The Mizoram Election 2023 saw 78.38 per cent voter turnout as of 11 pm on November 7 when the 40 assembly seats had polled.
30.11 / 04:41
IPO
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Financial
Fedbank Financial stock lists at 2% discount over issue price
Fedbank Financial on Thursday got listed with a discount of 1.6% on BSE on debut at the bourses on Thursday. The stock was listed at a premium of Rs 137.75. Meanwhile, on the NSE the stock was listed at Rs 158, down 1.4%. The IPO, which was priced in the range of 133-140, received subscription demand twice the shares on offer. «Despite the company's strong track record of growth and profitability, along with its diversified customer portfolio and focus on providing affordable financial solutions to underserved and unbanked segments, the lack of enthusiasm among investors is striking,» said Shivani Nayti of Swastika Investmart. Net proceeds from the fresh issue will be utilised towards augmenting Tier–I capital base to meet its future capital requirements, arising out of the growth of business and assets.
30.11 / 03:35
IPO
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Tata Technologies to boost hot Indian IPO market on trading debut
Tata Technologies Ltd., the first company from the salt-to-software conglomerate to list since 2004, begin trading on Thursday. Tata Technologies’ IPO raised Rs 30.4 billion ($365 million), with shares being sold at Rs 500 each, the top of the marketed range. Demand exceeded shares on offer by 69 times, as investors piled into the engineering unit of luxury carmaker Jaguar Land Rover’s owner Tata Motors Ltd. The sale comes as India logs a record number of listings in 2023, fueled by a booming stock market and optimism about the country’s economic growth. The frenzy reached a fever pitch last week when first-time share sales from five issuers, including Tata Technologies, garnered a combined 2.5 trillion rupees in application amount. “Strong optimism in the domestic market has fueled the surge in IPO listings in the last two years,” Jahnavi Prabhakar, an economist at Bank of Baroda wrote in a note on Wednesday. “A large number of IPOs have been listed at a premium, making this a win-win situation for investors.” While the 205 IPOs in India so far in 2023 have mostly been small — only two raised more than $500 million — about 80% of the newcomers are trading above their offer prices versus 62% in Asia. Indian Renewable Energy Development Agency Ltd., a state-run lender to renewable energy projects, surged 88% in its trading debut Wednesday.
30.11 / 03:35
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PM Modi urges record voter turnout in Telangana assembly elections
Narendra Modi urged the people of Telangana on Thursday to cast their votes in record numbers in the elections to the 119-member state Assembly. Voting began at 7 am at various polling booths across the state.
30.11 / 01:39
IPO
Provident
Experts
Nifty reclaims Mt 20k on receding concerns over further US rate hikes
stock benchmarks rose more than 1% on Wednesday with the Nifty closing above 20,000 for the first time since September 13 as receding concerns over further rate hikes in the US revived risk-on sentiment. The softening of global crude prices and a reversal in foreign fund activity in November so far after two months of selling also improved investor mood. The Nifty surged 206.90 points, or 1%, to close at 20,096.60.
30.11 / 01:39
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All eyes on outcome of COP28 amid climate, geopolitical challenges
climate change at COP28 in Dubai, which would be the biggest UN climate meet yet. Host, the UAE, said the goal is to restrict temperature rise to 1.5°C from pre-industrial levels by closing the gap between ambition and action.
30.11 / 01:11
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Software
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Fema breach: ED flags failure to submit papers, delays by Byju’s
ED) has alleged a slew of violations under the foreign exchange law, including failure to submit crucial documents in time as well as realise export proceeds, by Byju’s parent Think & Learn, apart from holding founder Byju Raveendran responsible. ET on November 21 reported online thatED confirmed issuing showcase notices for alleged violations of the Foreign Exchange Management Act (Fema) amounting to Rs 9,362 crore by Think & Learn and Raveendran.
29.11 / 22:43
29.11 / 22:43
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GM says strike cost $1.1B, but it can absorb rising labor costs as it raises dividend
Clearly frustrated with its languishing share price, General Motors is announcing a massive stock buyback plan, raised its dividend and told investors it can absorb increased labor costs from a six-week autoworkers strike
29.11 / 22:43
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US economic growth for last quarter is revised up to a 5.2% annual rate
Shrugging off higher interest rates, America’s consumers spent enough to help drive the economy to a brisk 5.2% annual pace from July through September, the government said in an upgrade from its previous estimate
29.11 / 22:43
Citi
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Barcelona may need water shipped in during a record drought in northeast Spain, authorities say
Tighter water restrictions for drought-stricken northeast Spain have gone in effect as authorities in Catalonia say that Barcelona may need to have fresh water shipped in by boat in the coming months
29.11 / 21:59
Fighting
KSI vs IShowSpeed during Jake Paul’s boxing match: Check date, key details
Jake Paul will face Andre August, and it appears that he will face challenges beyond low ticket sales. YouTuber IShowSpeed challenged fellow influencer KSI on November 28. Speed threatened to kick the Prime co-founder, and KSI was urged to accept a sparring match and set a date. Unfortunately for Jake Paul, it appears that his opponent has chosen a date to directly compete with him for viewers, which could divert attention from his match if it is broadcast live. Soon after IShowSpeed issued the challenge, KSI accepted—but only under the condition that it take place on December 15, the day of Jake Paul's bout with Andre August. KSI said, “December 15th, come through and let’s do this”. Although KSI made no mention of Jake Paul, the two have been engaged in a lengthy feud even though they have never really faced off in a ring match. Tommy Fury put an end to both fighters' winning streaks, so it's still unclear who the superior boxer is. However, it is unlikely that KSI and Speed's sparring on the same day as Jake's fight is a coincidence because their rivalry goes beyond simply who is the better boxer. Pay-per-view sales have even been compared because of their rivalry. However, a record number of PPV purchases were allegedly made for the Prime card that included KSI vs. Tommy Fury and Logan Paul vs. Dillon Danis. Among the largest influencer boxing events we've seen to date was The Prime Card. In addition to witnessing KSI go toe-to-toe with Tommy Fury, a professional boxer who gave Jake Paul his first defeat earlier in 2023, we also got to witness Logan Paul's eagerly anticipated comeback to the ring.
29.11 / 19:36
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evacuation
Silkyara tunnel: Prime Minister's Office made sure everything went according to plan
Silkyara tunnel in Uttarakhand was coordinated by the Prime Minister's Office. The PMO made sure that everything went according to plan and its quick intervention in smoothening bureaucratic glitches hastened the evacuation process.
29.11 / 19:23
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Strategy
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testing
Indian markets, now valued more than India GDP for FY24
MUMBAI : Robust domestic buying as well as short-covering by foreign institutional investors (FIIs) ahead of the assembly election results on 3 December propelled BSE’s market capitalization to $3.99 trillion on Wednesday, well past the government’s nominal gross domestic product (GDP) forecast of $3.62 trillion for the current fiscal (FY24). The Nifty 50 index reclaimed the 20,000-mark after a span of two months.
29.11 / 18:35
Digital
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2024
3 Beaten-Down Stocks Poised for Rebound in 2024
Stocks on Wall Street are on track to close out 2023 on a solid note with investors growing increasingly optimistic that that the Federal Reserve may be done raising rates amid cooling inflation and as the economy holds up better than expected.
29.11 / 16:45
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Ahead of Market: 10 things that will decide D-Street action on Thursday
Sensex rallied 727 points and Nifty closed above the 20,000 mark for the first time since September 18 driven by buying in heavyweight HDFC Bank, Axis Bank ICICI and TCS on expectations of more foreign fund inflows. In a remarkable day for Indian equities, the combined market valuation of all listed companies on the BSE reached the $ 4-trillion milestone for the first time on Wednesday. Both the benchmarks are less than 1% shy of the record highs hit on September 15. Here's how analysts read the market pulse: «Nifty moved up smartly as the bulls remained at the helm following a consolidation breakout on the daily chart.
29.11 / 16:45
Experts
IIFL Finance raises $50 million from Japan's Mizuho Bank
IIFL Finance on Wednesday raised $50 million in three-year external commercial borrowing (ECB) from Japan's Mizuho Bank. The loan, priced at 120 basis points over Tokyo overnight average rate (Tonar), will be used for onward retail lending. One basis point is 0.01 percentage point. Tonar is at a negative 0.1%.
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