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Multinationals are rushing to exploit a runaway rally in the Indian stock markets, with more than a dozen firms paring holdings in their local businesses in the past year, while half a dozen others, including Hyundai and LG, are planning public listings. GE T&D India is the latest to join a growing list of global companies like Wabco, ITC, Styrenix Performance Materials, Federal-Mogul Goetze, Timken India, Motherson Sumi, GMM Pfaudler, Thomas Cook, and Whirlpool taking advantage of premium valuations in India, which significantly exceed those of their global counterparts.

initial public offerings (IPOs) — Northern Arc Capital, Western Carriers India, and Arkade Developers — that closed for subscription on Thursday received strong investor interest. Northern Arc Capital's ₹777-crore IPO was subscribed 110.91 times, attracting bids worth ₹62,553 crore. The issue received bids for 238.22 crore shares against the offered 2.14 crore shares, excluding anchor investors. The IPO, priced at ₹249-263 per share, comprised a fresh issue of ₹500 crore and an offer for sale of 1.05 crore shares.

«While the US Fed policy is out, investors will look for the other three central banks' outcomes, namely BOJ, BOE, and China. Overall we expect the market to stay in a range with positive bias,» said Siddhartha Khemka, Head — Research, Wealth Management, Motilal Oswal.

bond yields retreated to a nearly 31-month low Thursday after the US central bank unexpectedly cut rates by half a percentage point overnight. But broader local gauges and export-laden technology counters fell over concerns the outsized reduction re flects hitherto unknown growth challenges in the world’s biggest economy. “Since quantum of the cut is bigger than expectations, it implies concerns of a growth slowdown in the US economy, which led to the initial subdued reaction in markets today,” said Pankaj Pandey, head of retail research, ICICI Securities.

Subscribe to enjoy similar stories. Every Friday, Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. Abundant rainfall this year has boosted kharif crop sowing, but excess rains in September may lead to crop damage and add risks to India's inflation trajectory.

Wall Street traders betting the Federal Reserve will be able to engineer a soft landing spurred a rally in riskier corners of the market, with stocks hitting all-time highs. The S&P 500 climbed 1.7% — notching its 39th record in 2024 and extending this year’s surge to about 20%. Tech led gains, while defensive industries underperformed. The Nasdaq 100 added 2.6% and the Russell 2000 of small caps rose 2.1%. In late hours, FedEx Corp. tumbled on a bearish outlook. Nike Inc. surged after saying longtime executive Elliott Hill is coming out of retirement to replace John Donahoe as chief executive officer.

Federal Reserve cut interest rates by 50 basis points and indicated more rate cuts were on the horizon. Heavyweight stocks that have enjoyed much of this year's stock market rally made fresh gains, with Tesla surging over 7%, and Apple and Meta Platforms each up almost 4%.

Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,...

Radhakishan Damani has sold 1 lakh shares in VST Industries for Rs 4.4 crore via block deal. He sold shares at a price of Rs 439.05 apiece which was slightly above the Wednesday closing price of Rs 437.85. Today the stock settled at Rs 444, gaining by Rs 6.15 or 1.40%

Alternative Investment Funds (AIFs) whereby securities — other than unlisted, non-traded, or thinly-traded securities — will now be valued in line with mutual fund rules. This came after the Securities and Exchange Board of India (Sebi) received feedback from the AIF industry on challenges with the valuation framework and has made changes based on public comments and internal discussions. Modifying the rules, the regulator said, «valuation of securities, other than unlisted securities and listed securities which are non-traded and thinly traded, for which valuation norms have been prescribed under Sebi (Mutual Funds) Regulations shall be carried out as per the norms prescribed under MF rules».

Amaravati: Amid the controversy over the alleged use of substandard ingredients and animal fat in the preparation of the world renowned Tirupati laddu, the ruling Telugu Desam Party on Thursday claimed that the adulteration has been confirmed by a Gujarat-based livestock laboratory. TDP spokesperson Anam Venkata Ramana Reddy in a press conference displayed the purported lab report which apparently confirmed the presence of "beef tallow" in the given ghee sample. The purported lab report also claimed the presence of «lard» (relating to pig fat) and fish oil in the samples. The sample receipt date was July 9, 2024 and the lab report was dated July 16. However, there was no official confirmation on the lab report from either the Andhra Pradesh government or the Tirumala Tirupati Devasthanams (TTD), which manages the famous Sri Venkateswara Swamy temple.

In the past months, Bitgert has shown signs of increasing numbers of large investors, as seen in the increasing trading volume and price movement. This is a whale accumulation in the crypto space, and an enormous purchase of a currency by big investors, referred to as “whales,” might start a bull run. Their actions often convey a sense of trust in the currency, which inspires smaller investors to follow suit.

Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,...

As September is underway, Keynes' famous words resonate deeply within the financial community.

Vinod Karki, Equity Strategist,ICICI Securities, says some growth concerns are seen on the defensive side. Cyclicals are growing faster, and there are growth concerns in the IT sector and a lot of concerns on the agri-rural economy. This year, we had a massive heatwave and now a lot of rainfall. The temporal and spatial distribution has been pretty uneven, and so the outlook is not looking that good. IT services and consumption have seen growth issues overall. The valuation is at a record high. So, even though the cyclicals are expensive, there might be some shifts there. On Thursday, the Supreme Court rejected telecom firms' pleas to recalculate adjusted gross revenues (AGRs) amid ongoing disputes over government dues. Vodafone India, Bharti Airtel, and others argued that the Department of Telecommunications erred in calculating license fees and spectrum charges. This particular news development coming in, is not too positive for Vodafone Idea or the telecom space as a whole. Do you have a view on the telecom space?

Bharat Electronics Ltd. traded 4.56 per cent down at Rs 269.95 on Thursday at around 01:54PM (IST), while the benchmark BSE Sensex advanced 211.63 points to 83159.86. As many as 987,109 shares changed hands on the counter with a total value of Rs 27.01 crore.

REC Ltd. traded 4.81 per cent down at Rs 519.4 at 01:59PM (IST) on Thursday, even as BSE benchmark Sensex gained 226.29 points to 83174.52. The scrip had closed at Rs 545.65 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 653.9 and Rs 247.85, respectively.

BNB, Solana, XRP, Toncoin, Shiba Inu, and Cardano rose up to 5%. BTC’s gains over the last one week have been to the tune of 7%.

Arnab Banerjee, MD & CEO, Ceat, says price hikes will continue because the pass-through to the tyres per se is inadequate if cumulative price hikes from April to August are taken. Ceat has been able to pass on maybe 4%, in barely a couple of categories, but in a large number of categories, they have been able to pass on even less. The ability to pass on to OEMs is also restricted. Banerjee says price hikes will continue in September. Just wanted to begin by discussing the raw material setup. I know this is something that we have talked about earlier as well. But at the end of Q1, you were talking about how the raw material prices could increase by 5% to 6% in Q2. Now, on one hand, while the rubber prices have gone up, crude prices have come off, would you still stick with the view that the total raw material cost will be up 5% to 6% or do you think an offset is likely to happen? Arnab Banerjee: In the first quarter (Q1) raw material prices were about 5% higher than Q4 and Q2 raw material prices will indeed be higher by 4% to 5% than Q1.

GAIL (India) Ltd. fell 3.69 per cent to Rs 209.7 in Thursday's session as of 01:34PM (IST) even as the equity benchmark Sensex traded 212.8 points higher at 83161.03. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 246.35 and a 52-week low of Rs 116.2 on NSE. Around 296738 shares changed hands on the counter till 01:34PM (IST).

Bandhan Bank Ltd. traded at Rs 209.8 on BSE at 01:28PM (IST) on Thursday, down 1.54 per cent. The stock quoted a 52-week low price of Rs 169.45 and a high of Rs 263.15. Earlier in the day, the stock saw a gap up opening.