Booking Financial News

Gold prices slumped by Rs 450 to Rs 73,600 per 10 grams in the national capital on Wednesday, extending losses for the third straight session amid a decline in precious metal rates in the overseas markets. In the previous session, the yellow metal of 99.9 per cent purity had closed at Rs 74,050 per 10 grams. Silver prices also plummeted by Rs 1,650 to Rs 83,600 per kilogram from Rs 85,250 per kg in the previous close, according to the All India Sarafa Association.

Health and Allied Insurance Co. Ltd., the standalone health insurance company, is looking to diversify by entering the protection or term insurance and motor insurance markets. The company will leverage its existing health insurance portfolio and expand its customer base. For this, Star Health will apply for a composite insurance license, once the Insurance Act is amended. This amendment, which allows insurers to offer both life and non-life insurance products under a single license, is currently awaiting parliamentary approval and is expected to be taken up soon. The company will look to leverage its direct-to-consumer (DTC) channels and existing network of agents and plans to market life and motor insurance products to its current customer base. The company's motor insurance strategy will not only be acquiring new customers but also focusing on renewals, given the high growth potential in the motor and health insurance segments within the general insurance industry.

Invest4Edu, a platform which offers education planning, saving and investment services, has secured $3 million in seed funding from family offices. The funds will be used to accelerate growth and deepen the company’s impact in the early education planning and financial support domains “This is an important step in our journey of making quality education accessible to all. The proceeds will be leveraged to accelerate the growth with primary focus on sales and marketing, technology, and product development,” said Peeyush Agrawal, CEO, Invest4Edu.

Bharat Forge Ltd. traded 1.0 per cent up at Rs 1582.7 on Wednesday at around 12:27PM (IST), while the benchmark BSE Sensex declined 427.35 points to 82128.09. As many as 19,812 shares changed hands on the counter with a total value of Rs 3.1 crore.

home buyers in Jaypee Infratech. Suraksha Group, which acquired the project through insolvency resolution, offers to settle the dues or request a refund. A Times of India news report stated that 538 homebuyers who have paid 80% or more of the cost but failed to make a required claim under the Insolvency & Bankruptcy Code can now pay their dues. As per the revised plan approved by the Supreme Court, these homebuyers have a 30-day window to settle their dues. An additional 163 home buyers who have paid less than 80% of the flat's value are eligible for a refund under the approved resolution plan. Moreover, 430 other entities have booked apartments in projects deemed unviable. In their case, the refund will be determined according to the formula applied to other project participants, reported the Times of India.

SRF Ltd. traded 0.17 per cent down at Rs 2581.75 on Wednesday at around 11:01AM (IST), while the benchmark BSE Sensex declined 395.22 points to 82160.22. As many as 4,990 shares changed hands on the counter with a total value of Rs 1.28 crore.

PI Industries Ltd. traded 0.05 per cent up at Rs 4541.35 on Wednesday at around 10:55AM (IST), while the benchmark BSE Sensex declined 443.38 points to 82112.06. As many as 2,977 shares changed hands on the counter with a total value of Rs 1.32 crore.

HDB Financial Services, the non-banking finance arm of HDFC Bank, is in talks with Bank of America Securities, Morgan Stanley and Nomura to shortlist advisors to a proposed initial public offering (IPO), said people aware of the development. More banks may come on board. The talks are preliminary, and a final decision is expected in the next few weeks, said the people. HDFC Bank could dilute nearly 10% to raise around ₹10,000 crore ($1.2 billion).

NBFC). Some HDFC Bank board members were keen on the deal, but after much debate, the board took a collective call to not risk missing the listing deadline, the people cited above said on condition of anonymity. HDBFS is mandated to go public by September 2025, as per guidelines of banking regulator Reserve Bank of India (RBI).

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

The latest round of earnings has turned Bank of Nova Scotia’s analysts and portfolio strategists optimistic on the outlook for Canadian bank stocks.

IPO-bound Bajaj Housing Finance aims to expand by diversifying its book and exploring multiple sources of funds, Chairman Sanjiv Bajaj tells ET. Bajaj Finance is not exploring a bank licence, however, he says. Edited excerpts from the interview: What are the challenges you foresee for the housing finance industry considering that banks are also getting in the space aggressively? I think that the opportunities outweigh the challenges, this is when you are growing at 7% and the government is also putting support for the larger economy to grow even faster in the coming years, in addition to the fact that the government is also supporting housing, with housing for all, so the opportunity is very large. The challenges will remain in the locations that you want to grow, the kind of customer segments you enter, if you are building a diversified or a monoline book and sources of borrowing. Therefore, the path that we have taken is to build all this in a diversified manner ( such as home loans, loans against property, developers’ loans), we are not just in one line of lending or borrowing, we have multiple lines for this and have diversified it. This makes up most of the challenges, and we can build up the business in the foreseeable future.

Netflix will reportedly stream 'Barbie' director Greta Gerwig's Narnia movie. Even though the OTT streaming giant is yet to make it official, there are reports that claimed first major casting for the film has been undertaken. This came six years after Netflix publicly announced in 2018 that Narnia Books will be adapted. In 2023, there were reports that Gerwig will helm the project, as per a report on WhatsOnNetflix. Netflix so far has not divulged any details regarding release date of Narnia movie, or who will feature as main cast.

Shobha Karandlaje on Tuesday filed an affidavit before the Madras High Court, apologising to the people of Tamil Nadu for her remarks made in light of the Rameshwaram Cafe blast in Bengaluru earlier this year. Post the March 1 low intensity blast at the popular eatery in Bengaluru, Karandlaje had linked the people of Tamil Nadu with the incident and she was booked by the Madurai police over the matter. She had moved the court seeking to quash the criminal proceedings against her. In her affidavit filed before the bench of Justice G Jayachandran, Karandlaje said the remarks made about the people of TN was done «without any intention» to hurt their sentiments and feelings.

MakeMyTrip's ‘How India Travels Abroad’ report for the period of June 2023 to May 2024. Rajesh Magow, co-founder and Group CEO, MakeMyTrip, said with rising disposable incomes, greater exposure to global cultures, and the increasing ease of travel, more Indians are exploring both domestic and international destinations for leisure as well as business. «Our data attests to the growing confidence in exploring new destinations and indulging in different/ luxury experiences, which is also transforming the travel industry,» he said. «While domestic tourism remains buoyant, as noted in our previous report, our latest findings highlight the notable changes in international travel behaviour driven by macroeconomic factors that are fuelling the surge in travel among Indians. These trends present an exciting opportunity for the travel and tourism industry to innovate and cater to the evolving needs of Indian travellers,» he added.

Sunil Subramaniam, Market Expert, says that speculation is part of a healthy capital market. It is only when you have these speculative entities like these people come in, that there is liquidity in the market. But if you regulate them and take them out, overall as a market, the liquidity is going to shrink. Should the regulator step in on the valuations? Subramaniam thinks that is right because there is no golden rule on what should be the right valuation. The market is the best determinant. So, unless there is clear evidence of fraud, some price fixing, rigging, or some false news put across which makes the share price go up, Sebi shouldn’t put in any regulation. The SME market is almost like a casino now. It does not feel like a stock market. Sunil Subramaniam: I fully agree with you. The reason for this is also related to the rampant futures and options situation. Demat accounts are going up. Post-COVID, youth with a lot of time on their hands, armed with internet and technology hands, are treating the stock market like a gambling den. There are no two ways about it. We do not have other options for gambling. We can see similar kinds of success when it comes to Dream11 and those kinds of sports-related apps. Despite all Sebi restrictions, financial influencers (fin fluencers) play a big part. It is like a get-rich-quick scheme. Booking gains from these IPOs show their intent. They are not investors. They are speculators.

international travel. A recent report by MakeMyTrip, covering the period from June 2023 to May 2024, highlights a significant rise in the number of Indians taking international trips, with a 32% growth in people going on two or more international journeys. Those taking three or more trips have grown by 37%, underscoring India's growing appetite for global travel.

Netflix regarding the controversy surrounding the 'IC814-The Kandahar Hijack', the OTT platform has assured to be 'sensitive' to and in accordance with the India's sentiments. Further, it has also assured the Information and Broadcasting Ministry that it will conduct a content review following an uproar for the use of Hindu names for two terrorists, ANI reported citing sources. The Anubhav Sinha directed series has drawn criticism from the BJP-led centre for using Hindu names of two terrorists, 'Bhola' and 'Shankar', while the other three are referred to as Chief, Doctor, and Burger.

Defence stocks have corrected by up to 30% in the past one month as investors look to book profits after multibagger rallies over the past one-and-half years. As a strategy, investors should stay away from bottom fishing at this time and the decision to invest in this sector should come only when the signs of reversal become apparent, experts recommend. In the Nifty Defence index, six stocks have seen their price erode in double digits with Cochin Shipyard remaining the top loser in the pack falling by 30% in the last one month. It is followed by Garden Reach Shipbuilders & Engineers and Mazagon Dock Shipbuilders which have declined by 26% and 21%, respectively in the same period.

₹3400 crore in March 2019. It’s around ₹42,200 crore - Book value was ₹1.08 trillion. It’s ₹2.53 trillion at June quarter end.

trading sessions, Nifty has created a new record of longest winning streaks in Dalal Street's history but the gravity-defying No. 13 feat can now create trouble for bulls going forward. Such long periods of uninterrupted winning streaks are usually followed by negative returns. A study of Nifty's marathon runs lasting at least 9 days while being within 1% of its all-time high shows that the index has given negative returns of 3% in the next one month.