AXY Financial News

Vidarbha Industries Power will hold a Swiss challenge auction on August 8 among the three shortlisted asset reconstruction companies (ARCs), said people aware of the development. Lenders have shortlisted Aditya Birla ARC, Avenue Capital-backed Asset Reconstruction Company of India (Arcil) and Reliance ARC as eligible candidates to submit counter offers for the sale of the distressed power company, the people said. Banks have preferred CFM Asset Reconstruction Company, an anchor bidder, to the promoter Anil Ambani group, for the proposed loan auction under a Swiss challenge mechanism, as first reported by ET.

I am a 31-year old IT professional with a monthly take-home salary of ₹1.9 lakh, I am currently focused on building a corpus of ₹2 crore within the next 7 years. My spouse and I plan to delay having children for another 2 years. My current investments are: ₹13 lakh in mutual funds (MFs), ₹8 lakh in stocks, ₹5 lakh in fixed deposits and about ₹2 lakh of additional savings. My systematic investment plans (SIPs) are ₹22,000 in HDFC Index Fund, ₹15,000 in Axis Midcap, ₹13,000 in Nippon Small Cap, ₹15,000 in Parag Parikh Flexi Cap, ₹7,000 in Quant Tax Plan, ₹2,000 in Canara Robeco Equity Tax Saver, ₹10,000 in ICICI Balanced Advantage Fund, and ₹5,000 in Axis Bluechip Fund. My investment in the ICICI Balanced Advantage Fund is for a very long-term basis and I see it as my retirement fund in addition to my Provident Fund (PF) and Public Provident Fund (PPF). Should I consolidate my SIPs further. —Name withheld on request Out of your current investments, you can continue to hold ₹5 lakh in fixed deposits as contingency fund to ensure that no emergency derails your investments.

For the June quarter, the bank is expected to report a 45.4% year-on-year (YoY) growth in net profit to Rs 5,999 crore, according to the average of estimates given by 14 brokerages. Net interest income — the difference between interest earned and interest expended — is expected to increase 28% YoY to Rs 11,981.4 crore. The private sector lender is scheduled to release its earnings on Wednesday.

Jyothy Labs(up 19.98%), Mrs Bectors Food Specialities(up 5.53%), Adani Wilmar(up 4.57%), Bikaji Foods International(up 3.58%), Tasty Bite Eatables(up 2.06%), Nakoda Group(up 1.55%), Marico(up 0.97%), Prataap Snacks(up 0.91%), Bajaj Consumer(up 0.77%) and Emami(up 0.67%) stood among the top gainers. Dodla Dairy(down 6.42%), Heritage Foods(down 5.19%), Euro India Fresh Foods(down 3.63%), Sheetal Cool Products(down 2.99%), P & G Hygiene(down 2.50%), ADF Foods(down 1.72%), Britannia Industries(down 1.68%), Varun Beverages(down 1.60%), JHS Svendgaard Laboratories(down 1.59%) and Vadilal Industries(down 1.25%) were among the top losers of the day.

capital market regulator’s approval to raise funds through an initial public offering (IPO). The Chennai based company had in April refiled draft red herring prospectus (DRHP) with Securities & Exchange Board of India (SEBI) for the IPO. It has obtained Sebi’s observation letter on July 18.

Gold rate today: Ahead of US Fed meeting and speculations about 25 bps rate hike, US dollar (USD) climbed to one week high putting gold, silver and other assets under pressure. Gold future contract for August 2023 expiry on Multi Commodity Exchange (MCX), opened lower at ₹59,241 per 10 gm levels and went on to hit intraday low of ₹59,055 levels within few minutes of commodity market's opening bell. In international market, gold price today bounced back from intraday low of $1,954 per ounce levels and hit intraday high of $1,963 levels during early morning trade in various Asian markets.

The NSE Nifty index was trading 1.25 points up at 19673.6, while BSE Sensex was down 24.46 points at 66360.32 at the time of writing this report. In the Nifty index, JSW Steel Ltd.(up 2.30 per cent), UltraTech Cement Ltd.(up 2.06 per cent), Hindalco Industries Ltd.(up 2.03 per cent), NTPC Ltd.(up 1.84 per cent) and Tata Steel Ltd.(up 1.69 per cent) were among the top gainers.

ZUARIAGRO(up 2.05%), Bohra Industries(up 1.73%), Aries Agro(up 0.75%), Agro Phos(up 0.74%), Sikko Industries(up 0.69%), Nagarjuna Fertilizers & Chem(up 0.57%), G S F C(up 0.39%), Rashtriya Chemicals & Fertilizers(up 0.35%), Chambal Fertilisers & Chemicals(up 0.32%) and Rama Phosphates(up 0.18%) were among the top gainers. Coromandel International(down 0.98%), KRISHANA(down 0.70%), Deepak Fertilizers & Petrochemicals(down 0.58%), Mangalore Chemicals & Fertilizers(down 0.29%) and Madhya Bharat Agro Products(down 0.09%) were among the top losers.

Triveni Engineering & Industries(up 2.68%), EID Parry(up 1.62%), Balrampur Chini Mills(up 0.98%), Bannari Amman Sugars(up 0.53%), Ugar Sugar Works(up 0.31%) and Simbhaoli Sugars(up 0.20%) were among the top gainers. DCM Shriram Industries(down 6.86%), BAJAJHIND(down 2.60%), KCP Sugar & Industries(down 2.39%), Dwarikesh Sugar Industries(down 1.98%), Dalmia Bharat Sugar & Industries(down 1.64%), MAGADHSUGAR(down 1.52%), Rajshree Sugars & Chemicals(down 1.04%), Dhampur Sugar Mills(down 0.99%), Mawana Sugars(down 0.80%) and Uttam Sugar Mills(down 0.76%) were among the top losers.

Buy or sell stocks for today: Dragged down by profit booking, Indian stock market ended lower for second straight session. NSE Nifty corrected 72 points and ended at 19,672 levels while BSE Sensex lost 299 points and closed at 66,384 mark. Bank Nifty index finished 152 points down at 45,923 levels.

₹1 lakh monthly spend, increased its renewal fee by 25% to ₹12,500 (18% GST extra) and raised the annual fee waiver threshold to ₹25 lakh from the existing ₹15 lakh. That wasn’t all. The bank also reduced the 5:4 air miles and hotel points conversion rate to 5:2 for non-Burgundy (Axis bank’s premium banking service) members, who comprise a majority of the card owners.

IDFCBANK(up 3.14 per cent), Bank of Baroda(up 1.55 per cent), Punjab National Bank(up 1.28 per cent), Axis Bank(up 0.9 per cent) and IndusInd Bank(up 0.8 per cent) were among the top gainers. AU Small Finance Bank(down 4.34 per cent) and Kotak Mahindra Bank(down 3.34 per cent) were the top losers on the index.

Buy or sell stocks for today: Following weakness in Reliance and major IT stocks, Indian stock market ended lower on Friday last week. NSE Nifty lost 234 points and closed at 19,745 levels while BSE Sensex nosedived 887 points and ended at 66,684 mark. Bank Nifty index dipped 111 points and closed at 46,075 levels.

MUMBAI, NEW DELHI : Banks have turned cautious on their exposures to Vedanta Ltd, worried that sizeable dividend payouts to ease the parent’s debt burden might stress the balance sheet of the domestic entity to which they have loaned money, said two bankers close to the matter. Bankers said a clutch of lenders have been discussing their stand on Vedanta and are uncomfortable with high dividends to help its London-based parent Vedanta Resources deleverage. They said they are closely watching their exposures but added that the company has been repaying loans on time.

Amazon, Twitter, Apple, Ola, Flipkart, Oracle, JP Morgan, Goldman Sachs, among others, are some of the favourite hunting grounds for talent. According to data from Native, there was a 30-40% increase in demand for senior tech talent from global firms and new age companies in the last 6-12 months compared to a year ago.

Mindspace Business Parks REIT, Hitachi Energy India, Cyient, UTI Asset Management Company, Sundaram-Clayton, Ceat, Jyothy Labs, Amber Enterprises India Limited, Mahindra Holidays and Resorts India, Triveni Engineering and Industries, Delta Corp, Prudent Corporate Advisory Services, Man Infraconstruction, AGI Greenpac, SHAREINDIA, Tips Industries, Apollo Pipes, Indoco Remedies, RattanIndia Power, Aurionpro Solutions, Greenply Industries, Alicon Castalloy, Ajmera Realty and Infra India, Heubach Colorants India, Orient Bell, Rane Engine Valves, Pil Italica Lifestyle, Intense Technologies, Lovable Lingerie, Transwarranty Finance, Next Mediaworks. Bajaj Finance, Axis Bank, Tech Mahindra, Dr Reddy's Laboratories, Bharat Petroleum Corporation, Cipla, Shree Cements, TATA Consumer Products, Punjab National Bank, Colgate Palmolive (India), Schaeffler India, REC, Oracle Financial Services Software, Syngene International, Vedant Fashions, Jindal Stainless, Embassy Office Parks REIT, GlaxoSmithKline Pharmaceuticals, Kajaria Ceramics, Fine Organics Industries, Aether Industries, Aegis Logistics, Aditya Birla Sun Life AMC, HFCL, Godfrey Phillips India, Praj Industries, Deepak Fertilisers And Petrochemicals Corporation, Mahindra Lifespace Developers, Jubilant Ingrevia, SIS, Vesuvius India, Responsive Industries, PDS, TeamLease Services, Shanthi Gears, Apcotex Industries, Johnson Controls -Hitachi Air Conditioning India, ISMT, Agro Tech Foods, Indian Metals & Ferro Alloys, SJS Enterprises, Sasken Technologies, Bharat Wire Ropes, Rane Madras, ALLSEC Technologies, Ashima, Aksh Optifibre, Omax Autos, BLB, Banaras Beads.

Click here to read more Realme has launched the Realme C53 smartphone in India, starting at ₹9,999. It features a 6.74-inch display, 108MP primary camera, and a 5,000mAh battery. The phone will be available for purchase starting July 26.

July 24Tata Steel, TVS Motor Company, IDBI Bank, Canara Bank, HDFC Asset Management Company, Poonawalla Fincorp, Relaxo Footwears, PNB Housing Finance, DCM Shriram, BASF India, Craftsman Automation, Shoppers Stop, Jammu & Kashmir Bank, Tamilnad Mercantile Bank, Chennai Petroleum Corporation, Maharashtra Scooters, JK Paper, Spandana Sphoorty Financial, Mahindra Logistics, IIFL Securities, Dwarikesh Sugar Industries, LKP Securities.July 25Larsen & Toubro (L&T), Asian Paints, Tata Motors, Bajaj Auto, SBI Life Insurance Company, Jubilant FoodWorks, KPIT Technologies, Dixon Technologies, Suzlon Energy, Mindspace Business Parks REIT, Cyient, UTI Asset Management Company, Jyothy Labs, Mahindra Holidays & Resorts India, Delta Corp, Tips Industries, Greenply Industries.July 26Bajaj Finance, Axis Bank, Tech Mahindra, Dr Reddy's Laboratories, Bharat Petroleum Corporation, Cipla, Shree Cements, Tata Consumer Products, Punjab National Bank, Colgate-Palmolive (India), Schaeffler India, REC, Oracle Financial Services Software, Vedant Fashions, Jindal Stainless, GlaxoSmithKline Pharmaceuticals, Kajaria Ceramics, Fine Organic Industries, Aether Industries, Aditya Birla Sun Life AMC, Ion Exchange (India), Praj Industries, Mahindra Lifespace Developers, Jubilant Ingrevia.July 27Bajaj Finserv, Bharat Electronics, Bajaj Holdings & Investment, Shriram Finance, Macrotech Developers, CG Power and Industrial Solutions, Indian Hotels Company, Indus Towers, Indian Bank, Sona BLW Precision Forgings, ACC, Dr Lal Pathlabs, Laurus Labs, Ajanta Pharma, Blue Dart Express, Tata Teleservices (Maharashtra), Indian Energy Exchange, Motilal Oswal Financial Services, Birlasoft, Ujjivan Small Finance Bank, Latent View Analytics, JK Lakshmi Cement, Sterlite

Axis Bank has notified of certain changes it brings to the Magnus Card with effect from 1 September 2023. This includes discontinuation of the Tata CLiQ voucher for the newly onboarded members from the afore mentioned date.  The Axis Magnus credit card from Axis Bank boasts of a high earning as well as redemption rate. It offers 12 EDGE Rewards (ER) on every ₹200 spent.

Yatharth Hospital IPO: The initial public offering (IPO) of Yatharth Hospital and Trauma Care Services Limited is opening for subscription on 26th July 2023 i.e. on Wednesday next week. The book build issue will remain open for bidding till 28th July 2023 i.e.

Axis Bank Magnus Credit Card Terms and Conditions (Revised): Axis Bank has revised terms and conditions for its popular Magnus Credit Cards. The new rules will come into effect from September 1, as per a document on the Axis Bank website, which is also being circulated on social media.