Digital Financial News

Zomato hit their 52-week high of Rs 105 apiece intraday on Monday even as the broader indices traded in the red. The market capitalisation of the company is close to $10.7 billion.

Atul Suri, CEO, Marathon Trends, says “the whole PSU move is a decadal shift. There is a decadal shift in sectors and themes. Engineering, infra, construction never moved post 2008. So, when they move, they tend to be rather sticky. We have learnt this from the 2003-2008 period. A similar set of sectors were moving, similar themes were playing out and that was a phenomenal bull market and it kept surprising us. Ultimately, it lasted five years.”Who would have thought that PSUs would be where they are? It is at a record high for the PSU banking index. I know the majority of the indices are close to their record highs but are you surprised by this move?Yes, the surprise is the follow-up.

Aditya-L1, India's first space-based solar observatory, has begun collecting scientific data, the Indian Space Research Organisation (Isro) announced on Monday morning. The sensors of the Supra Thermal & Energetic Particle Spectrometer (STEPS) instrument have begun measuring supra-thermal and energetic ions and electrons at distances greater than 50,000 km from Earth, the space agency said. This data helps scientists analyse the behaviour of particles surrounding Earth.

Supreme Court on Monday said it wanted to «tighten up» the self-regulatory mechanism of monitoring TV news channels and granted four more weeks to News Broadcasters and Digital Association (NBDA) to come up with fresh guidelines. A bench comprising Chief Justice of India D Y Chandrachud and Justices J B Pardiwala and Manoj Misra took note of submissions that the NBDA was in consultation with its present and former chairpersons, Justice (retd) A K Sikri and R V Raveendran, respectively, for framing fresh guidelines. Senior advocate Arvind Datar, appearing for NBDA, sought four weeks to come up with fresh guidelines. Appearing for the Centre, Solicitor General Tushar Mehta said the Union government has already formulated a three-tier mechanism, the first of which is self-regulation. Senior advocate Mahesh Jethmalani, appearing for the News Broadcaster Federation of India (NBFI), said it was the only regulatory body registered with the Centre as per the 2022 rules, unlike NBDA.

SUV in the Indian market. The Audi Q5 SUV holds a prominent position as a compelling product offering for the renowned German automaker in the Indian market, and this exclusive variant is anticipated to cater to a more specialized group of buyers within the segment. The Audi Q5 limited edition is now available in the technology variant, featuring an exclusive Mythos Black exterior color.

mental health with New York’s firefighters. The visit, his first solo trip to the US in an official capacity, comes at a time when his popularity is reportedly soaring in the States. According to recent Gallup polls, the Prince of Wales finds himself ahead of American President Joe Biden and even Ukraine’s President Volodymyr Zelensky, in terms of public favour.

In a vibrant start to the week, Bitcoin is registering a modest increase of nearly 0.50%, trading at $26,647. This uptick coincides with notable developments in the crypto landscape. 

The Chinese central bank has updated its digital yuan app, adding new CBDC-powered features, “service” options, and utilities bill payment functions.

Karnataka Bank with a target price of Rs 285. The current market price of Karnataka Bank is Rs 242.25.

PSU bank stocks, pullback seems likely in over stretched stocks like PNB, Bank of India, IOB and Central Bank, says Anand James, Chief Market Strategist at Geojit Financial Services. “The recent rallies in the PSU bank index have pushed the 14-D RSI above 70. A Doji candle formed in the daily time frame warrants indecision,” he says. Edited excerpts from an interview:

Madanagopal Ramu, fund manager and the head of equity at Sundaram Alternate Assets believes the rich valuations in specific segments of mid and small-cap space are the biggest risk for the markets. In an interview with Mint, he said one can hold some cash at this time and invest in stocks with long-term growth potential during corrections. Crude price historically is a short-term cyclical factor and a difficult one to judge. We always see market corrections due to crude, typically, as an opportunity to invest and in portfolios, we make use of this correction to invest in some good opportunities, which we would’ve stayed away from due to valuations.

Conventional BNPL involves a 20-25% down payment, followed by interest-free instalments over weeks or months. However, each BNPL program comes with distinct prerequisites that patrons must fulfil.

Cipla while InCred initiated coverage on Fusion Micro. Also, Morgan Stanley recommended an Equal Weight on Tata Steel, and DAM Capital initiated coverage with a buy rating on AU Small Finance Bank.We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Motilal Oswal on Cipla: Buy| Target Rs 1420 Motilal Oswal maintained a buy rating on Cipla but raised the target price to Rs 1420 from Rs 1130 earlier.

Deven Choksey, MD, DRChoksey FinServ Pvt. Ltd, says “within the auto space, stronger preference would remain with the commercial vehicles. The commercial vehicles companies are largely driven by the higher amount of demand due to the infrastructure spending due to the industry expansion and the logistic demand that we are having.”Within auto where does your preference lie? Is it now tilting towards two-wheelers a lot more versus PVs and has the entire SUV rush already panned out and been factored in?The two-wheelers are largely driven by festive demand anticipation. That is where probably the likes of Bajaj Auto and all have scaled up significantly in the last couple of days. I would think that for the two-wheelers, probably the worst is over. Even on the export front, things are looking relatively more stable than ever before and that is where probably a company like Bajaj Auto would have a relatively better time to talk about. So that journey continues. However, within the auto space, stronger preference would remain with the commercial vehicles. The commercial vehicles companies are largely driven by the higher amount of demand due to the infrastructure spending due to the industry expansion and the logistic demand that we are having.

Even though the mutual fund industry in India has been competitive, the growth has remained largely steady, thanks to the strong inflows, particularly in the last three years. With newer players such as Zerodha, Groww making their entry into the $560 billion mutual fund industry, and Jio Financial Services looking to soon enter, the competition is likely to get hot. However,Seemant Shukla ofJM Financial Mutual Fund believes that India is quite an underpenetrated market globally, leaving enough opportunities for both existing as well as new players. “The anticipated growth in India can easily accommodate both existing and new players with varying strategies, be it passive or active investments,” Shukla, who is the chief business officer at the asset management company, told ETMarkets in an interview. Shukla believes that digitalisation and digital channels can contribute in a big way to expand the reach. “Considering that the US has multiple asset management companies for a population of 35 crore, it’s clear that we have a long journey ahead of us,” he said. Edited excerpts:Institutional interest in IPO issues has increased significantly in recent times. What’s driving this frenzy? After experiencing significant growth in 2017-18, the IPO market reached its peak in 2021-22, and since then, continued to maintain strong traction.

lithium-ion batteries and fuel cells by 2030 as it was on Russia for energy before the war in Ukraine unless it takes strong measures, a paper prepared for EU leaders said. The document, obtained by Reuters, will be the basis of discussions on Europe's economic security during a meeting of EU leaders in Granada, Spain, on October 5.

Investors and traders should consider a cautiously bullish stance on crude oil. The recent 30% increase from June's low of $71.60 to the current $93 suggests upward momentum, but it may be limited, potentially reaching levels around $106-110 in the next six months, offering a 10-15% upside, Jateen Trivedi, Vice President, Research Analyst at LKP Securities said. However, it's essential to be mindful of the higher risk of a decline toward $80-85, he cautions.Considering the current trends in crude oil prices, where do you see Brent/WTI price targets in the near term and for the year 2023?In the near term, Brent and WTI crude oil prices could rise by around 4-5%, reaching approximately $98 and $95 per barrel, respectively. For the full year 2023, they may touch levels of $105 and $100 per barrel, driven by factors like supply constraints and increasing global demand.

Jupiter Hospital IPO: Listing date of the initial public offering of Jupiter Life Line Hospitals Limited has been fixed on 18th September 2023 i.e. today. As per the BSE notice, effective from Monday, September 18, 2023, the equity shares of Jupiter Life Line Hospitals Limited shall be listed and admitted to dealings on the NSE and BSE in the list of 'B' group of securities.

Putting women’s sports on a government list designed to keep key games freely accessible for Australians would be a mistake, entrenching a “grass ceiling” on the players and sporting codes, Foxtel says.

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.