Digital Financial News

The 50 SMA represents the average closing price of a stock over the past 50 days and is closely watched by investors. In this article, we will analyze several stocks that crossed their 50 SMA on July 6, 2023. Let's dive into the details and explore these companies.

India (FSSAI), banned stevia, a natural sweetener, in 2011, and then reversed its decision and approved it in 2015. It currently approved the use of several artificial sweeteners including the controversial aspartame, which is going to be declared a possible carcinogen by the International Agency for Research on Cancer (IARC), the World Health Organization's (WHO) cancer research arm, Reuters has reported.

Flipkart on Friday announced that it will be distributing Axis Bank's personal loans on the e-commerce platform. The platform, which has 450 million customers, will be distributing loans of up to Rs 5 lakh which can be repaid in up to three years, it said in a statement.

FMCG) companies improved in Q1FY24 led by urban markets and a recovery in the rural markets. Sector analysts expect sales growth to moderate to a single digit as the demand is shifting to a volume-led growth from being a pricing-led one.

India’s leading mobile payments and financial services company Paytm, which has pioneered digital payment, has continued to be in a leadership position in the segment. The company added 4 lakh new merchants in June, who have subscribed to its premium devices including Soundbox and card machines, taking the total count to 79 lakh merchants. So far till June 2023, Paytm has added 21 lakh merchants who are paying subscriptions for its devices.

Dabur India Ltd fell over 2% in morning trade on the National Stock Exchange on Friday, despite a promising June quarter update. The firm highlighted signs of economic recovery in both urban and rural India, thanks to reduced inflation. However, the demand environment is yet to achieve a complete recovery even as it improved slightly sequentially, according to Dabur’s management.

New Delhi: JioCinema, the video streaming platform owned by Mukesh Ambani’s Reliance Industries Ltd, has recorded 4 billion minutes of watch time across 35 million viewers for reality show Bigg Boss OTT in the first 15 days. Over 150 million votes have been registered in the first two weeks, the company said in a statement.

Axis Bank, one of the largest private sector banks, to facilitate personal loans for its valued customers, adding additional convenience and enhanced benefits to its 450 million customers. The newly introduced personal loan service offers highly competitive loan options, granting access to amounts as high as ₹5 lakhs, allowing customers flexible repayment cycles ranging from 6 to 36 months. Flipkart’s introduction to personal loans demonstrates its commitment to addressing customers’ demands in today's financial environment and leveraging the potential of digital lending.

Beijing, China, says it will introduce “new digital yuan application scenarios,” and wants to take the lead in the adoption of the central bank digital currency (CBDC).

IPO listing: Shares of IdeaForge Technology Ltd listed on the bourses at a premium on Friday. On the NSE, the stock was listed at ₹1,300 per share, 93.5 percent higher than the issue price, and on the BSE, the stock was listed at ₹1,305.10 per share. The drone manufacturer set the price band for the IdeaForge IPO at ₹638 to ₹672 per equity share.

Twitter are shifting to third-party apps since the company has made verification necessary within 30 days for accessing TweetDeck, a move which industry watchers believe could give an edge to rival platforms. Since the removal of Teams feature from the Elon Musk-led app, reported outages and a number of changes announced, users have been taking to the platform to report issues of increased advertisements and appearances of blocked and muted accounts on their Twitter feed.

Bitcoin's current trading pattern has been characterized by choppiness, as it maintains a narrow trading range between $29,000 and $31,350.

ideaForge IPO listing: The initial public offer (IPO) of ideaForge Technology Limited is going to hit Dalal Street today. As per the information available on the BSE website, ideaForge IPO listing date has been fixed on 7th July 2023 i.e.

The Russian finance ministry has reportedly proposed banning the circulation of crypto in the nation, but wants to make exceptions for stablecoin issuers and crypto miners.

Nuggets, which has built technology for decentralised identity, worked with the BofE and the BIS on the recently completed Project Rosalind, which explored how a "universal and extensible API layer" could connect central bank and private sector infrastructures and enable retail CBDC payments.Now, the firm is being asked by the central bank to design a private and secure system that prevents the tracking and correlation of transactions, as well as stop fraud and money laundering.Earlier this week, financial services minister Andrew Griffith cited privacy as a reason to "proceed cautiously" with designs for the digital pound.While the BofE has said it will not make a final decision on introducing a Britcoin until at least 2025, deputy governor Jon Cunlifffe told a committee of MPs in February that a digital pound has a better than 50/50 chance of coming to fruition.Since then, the bank has begun recruiting as it looks to create a team of up to 30 people to oversee the project.

The NY Fed's New York Innovation Center worked with banks - including Citi, HSBC and Wells Fargo - as well as Swift and SETL on the PoC exploring a Regulated Liability Network (RLN), which is envisioned as an interoperable network for wholesale payments operating on a shared multi-entity distributed ledger.The experiment was designed to see whether shared ledger technology could tackle some of the frictions - such as speed, cost, off-hours availability, and the settlement process - that traditional payment systems suffer from.A working group split into three stream looking at the business applicability, technical feasibility, and legal viability of using shared ledger technology to settle the liabilities of regulated financial institutions through the transfer of central bank money. The business workstream concluded that a global, near real-time, 24/7, dollar payment system could be delivered through the RLN concept, enhancing the processing of cross-border payments denominated in USD.

digital economy by identifying key performance indicators as well as gaps and the possible solutions to grow it further. It has set a goal of reaching $1 trillion digital economy in the next few years.

Paytm is back to offering cashbacks. This time, the money is being dangled before merchants, not consumers. And the strategy is proving to be quite a success, just as it did for consumer payments.

BFSI) sector are looking to hire technology professionals who specialise in niche skills to steer their accelerated digitisation drive, candidates with high-end tech expertise are ‘offer-shopping’, leading to several companies struggling with a low offer acceptance rate. The average offer acceptance rate in skills such as full stack engineers, data engineers, UI/UX designers, AI/ML, data scientist & analytics, cloud architecture, product and lead engineers is still at a low level with 30 out of every 100 candidates interviewed trashing the offer letters and the compensation package they are given by prospective financial services hirers, according to executive search consultants such as Ciel HR Services and Native.

Flipkart employees will finally receive a one-time cash payout from a $700-million employee stock option (Esop) buyback that the ecommerce major is facilitating as part of its separation from payments firm PhonePe this month, people aware of the matter told ET. “The payouts to employees will be made by July 31… We made this communication to our employees previously,” a Flipkart spokesperson told ET over email without sharing further details. Eligible former and current employees will receive $43.67, or about Rs 3,615 for each unit of Esop they hold in Flipkart as compensation for the loss of PhonePe’s value in the stock option as a result of its separation, the company had said in a recent internal note.

investors turned net purchasers of Indian corporate debt after a gap of seven months, primarily due to a high-yielding Shapoorji Pallonji entity bond issue that drew firm overseas interest. As on June 30, foreign portfolio investment in corporate bonds was at ₹1,04,676 crore, an increase of ₹6,094 crore from May 31, NSDL data showed. June marked the first month since October 2022 in which overseas investors made a net purchase of Indian corporate debt.