Booking Financial News

Securities and Exchange Board of India (Sebi) on Thursday slapped a penalty of Rs 2 lakh on Nippon Life India Asset Management Limited and Rs 1 lakh on Nippon Life India Trustee Limited holding them in violation of total expense ratio (TER) norms prescribed by the regulator. Further, the trustee was penalised after the regulator found that it did not ensure compliance by the fund house.

As of 12:30 pm, the retail investor category booked strong demand, with subscriptions reaching 72.72 times. The non-institutional investor (NII) category was subscribed nearly 88 times, while the qualified institutional buyers had booked the issue by 1.7 times

Axis Securities has initiated coverage on Prestige Estates with a target price of Rs 2,195 supported by the company’s diversified business model, execution supremacy, robust order book and strengthening annuity streams. The real estate business is highly cyclical and susceptible to various geographical risks. Prestige Group has mitigated these risks by diversifying across verticals and geographies and is better positioned to emerge strong during challenging times.

InterGlobe Aviation Ltd. traded 0.07 per cent down at Rs 4315.55 on Thursday at around 11:36AM (IST), while the benchmark BSE Sensex declined 300.22 points to 79167.79. As many as 4,411 shares changed hands on the counter with a total value of Rs 1.9 crore.

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₹560 at 11:15 IST, a dip of 1.03% from the market opening price, ahead of the unaudited financial Q1 results today for 2024-25. According to stock market experts, the railway sector company is expected to declare strong Q1 results in 2024 on Thursday, as infrastructure sector companies are expected to deliver solid quarterly numbers.

While it is not easy to find stocks at reasonable valuations in a bull market, Vishal Jajoo, Fund Manager – Equity, ITI Mutual Fund, says growth stocks in India would continue to command a premium for the visibility in earnings that they offer. “The risk of not being in the markets is much higher than the risk of being in the markets. We continue to advocate disciplined investing in markets with a medium to long term view,” Jajoo says.

₹334 crore in Q1 of FY25 from ₹268 crore at the end of the March quarter. Sumant Kathpalia, CEO of IndusInd Bank said during its Q1 earnings call that some stress will be seen in the card business in the next two quarters. “If you look at the 60-plus and 30-plus DPDs, the 30-plus looks 7% right now.

Lyft shares tumbled to their biggest loss in more than a year on Wednesday after the ride-hailing app reported gross bookings that spooked investors

As a significant portion of today’s advisors are set to grey out of the industry, a new report by Cerulli underscores the pressing need for wealth firms to help their rookie advisors succeed.

Day passes to resorts and hotels really took off during the pandemic and have remained popular

Preamble of the Constitution in NCERT books figured in the Rajya Sabha on Wednesday with Leader of the Opposition Mallikarjun Kharge flagging the issue. Education Minister Dharmendra Pradhan, however, categorically stated that these reports were false. Pradhan said: «The Constitution's Preamble, Fundamental Duties, Fundamental Rights and National Anthemc continue to be part of NCERT books and all claims to the contrary were misplaced. Kharge maintained that he has been informed of newspaper reports stating that the Preamble of the Constitution may be removed from the syllabus. »I demand from the government that it should table documents on the changes made in the NCERT syllabus," Kharge said, adding that while on the one hand Modi bows to the Constitution, on the other hand he is trying to alter it.

Stockdale Paradox'. This paradigm introduced by Jim Collins in his book 'Good to Great', is named after Admiral James Stockdale, a highly decorated US military officer who survived over seven years as a prisoner of war during the Vietnam War. Stockdale's unique approach to enduring brutal captivity, combined unwavering faith that he would eventually be freed with a stark acceptance of his harsh reality. This duality forms the essence of the paradox: one must retain faith in eventual success while confronting the brutal facts of one's current situation. Various spiritual traditions emphasise the importance of faith, whether in a higher power, the universe's inherent goodness or life's ultimate purpose. The paradox aligns with these traditions by encouraging unwavering faith that transcends immediate suffering. This faith provides spiritual resilience, much like how Stockdale's belief in his eventual release sustained him.

Journey Strategic Wealth has extended its footprint to include the Sunshine State as it welcomes an advisor previously with LPL.

Airbnb says its profit fell 15% in the second quarter from a year earlier, as higher income taxes cut into the short-term rental giant’s bottom line even as bookings and revenue rose

CBI conducted searches at 15 locations in Chhattisgarh in connection with allegations of nepotism in the public service commission examination held in 2022, officials said on Wednesday. «Ineligible» family members of politicians, PSC officials and public servants were recruited in lucrative government jobs, they said. The searches took place at six locations in Raipur, three in Durg, two each in Mahasamund and Dhamtari and one each in Sarguja and Bilaspur at premises connected to those who benefited from the nepotism, they said. The CBI has named 16 such candidates who were appointed as deputy collectors, deputy superintendents of police and other lucrative positions, they said. The agency searched premises of 15 of them on Wednesday while the residence on one candidate was searched earlier, they said.

Max Healthcare Institute Ltd. traded 1.65 per cent down at Rs 848.45 on Wednesday at around 01:54PM (IST), while the benchmark BSE Sensex advanced 613.21 points to 79206.28. As many as 13,855 shares changed hands on the counter with a total value of Rs 1.18 crore.

Sony on Wednesday booked a 10% rise in operating profit in the April-June quarter, beating analyst estimates, boosted by the strength of its industry-leading image sensor business. Profit at the Japanese tech and entertainment conglomerate was 279 billion yen ($1.90 billion), compared with an average estimate of 275 billion yen from seven analysts polled by LSEG.

Power Finance Corporation (PFC) rose 6% to a day’s high of Rs 501.65 on the BSE after the company reported a more than 20% increase in consolidated net profit to Rs 7,182 crore for the June 2024 quarter. Total income for the quarter grew to Rs 24,736.68 crore, up from Rs 21,017.81 crore in the same period last year.

SoftBank Group swung to a small net profit of 10.4 billion yen ($70.7 million) in the April-June quarter, helped by buoyant valuations of tech stocks and marking its third consecutive quarter of gains. It missed expectations of 109 billion yen ($748 million) of profit over the quarter, according to an average of five analyst estimates compiled by LSEG and Reuters. That compares with a loss of 316.2 billion yen in the same period a year earlier.

«Real estate as a sector is looking attractive to us. The only challenge is that the valuations have gone up. So, one needs to be very selective in real estate, but any kind of a price correction should be a good opportunity to buy,» says Pankaj Pandey, Head Research, ICICIdirect.com. How have you read into the standalone quarterly numbers for PB Fintech, which has been pretty strong and completely different aside of that is Cummins as well, where the profits grew about 33%? Pankaj Pandey: So, do not cover both the stocks, but if I have to talk on, say, for example, Shree Cement, the numbers are definitely below expectation. While we might see volume growth going forward because they are expanding their capacities by 15 million tonnes. But cement is seeing a lower realisation, largely more in southern markets. But in general, you see a softness in the prices and probably that is going to be there for another quarter.