Experts Financial News

Muthoot Microfin IPO: The initial public offering (IPO) of Muthoot Microfin Limited has opened today and it will remain open till 20th December 2023 i.e. till Wednesday this week. This means, Muthoot Microfin IPO date of subscription will remain open from Monday to Wednesday this week.

Oil prices rose nearly 1% in early Asian trade on Monday, supported by lower exports from Russia and as attacks by the Houthis on ships in the Red Sea raised concerns of oil supply disruption. Brent crude futures climbed 69 cents, or 0.9%, to $77.24 a barrel by 0037 GMT, while U.S. West Texas Intermediate crude was at $72.08 a barrel, up 65 cents, or 0.9%. «The bad weather in Russia has played a part in the stronger open this morning as has the Houthis attack on ships close to Yemen,» IG analyst Tony Sycamore said. Russia said on Sunday it would deepen oil export cuts in December by potentially 50,000 barrels per day or more, earlier than promised, as the world's biggest exporters try to support global oil prices. This comes after Moscow suspended about two-thirds of loadings of its main export grade Urals crude from ports due to a storm and scheduled maintenance on Friday. Shipping firms, including the world's biggest container shipping lines MSC and A.P.

Gold prices struggled for momentum in early Asian hours on Monday as investors looked forward to U.S. inflation data due later this week for more clarity on the Federal Reserve's interest rate path after a dovish pivot last week. FUNDAMENTALS * Spot gold was little changed at $2,019.49 per ounce, as of 0041 GMT.

MUMBAI : At the annual campus hiring ritual at the Indian Institutes of Technology (IITs) this year, the rather ubiquitous profile of product manager stood out but with a more evolved job definition. Software companies, consultancies, consumer firms and startups prowled premier engineering and business schools for potential product managers who can go beyond the traditional requirements of the role.

Day trading guide for today: Following strong global market sentiments, Indian stock market finished higher for seventh week in a row on Friday last week. Nifty 50 index surged 2.30 per cent last week and closed at 21,456 levels after climbing to a new high of 21,492. BSE Sensex logged weekly gain of 2.18 per cent and ended at 71,483 levels after hitting a new high of 71,605 on Friday.

Buy or sell stocks for today: On account of strong global market sentiments, Indian stock market ended higher for seventh week in a row on Friday last week. Nifty 50 index logged weekly gain of 2.30 per cent last week and closed at 21,456 levels after climbing to a new high of 21,492.

Analysts said the coming weeks will see the direction of the market influenced significantly by the flow of funds from foreign investors. Here's breaking down the pre-market actions: STATE OF THE MARKETS

A material impact may start showing in the fiscal fourth quarter (January-March 2024) or the following three-month period (first quarter of fiscal 2025), they said.

Happy Forgings, a maker of forged and machined components used in trucks, is planning to raise ₹1,008 crore through an initial public offering at a valuation of ₹8,000 crore. This comprises new shares worth ₹400 crore, with the proceeds to be used for capacity expansion and repayment of debt, and ₹608 crore of shares offered by the promoter and a private equity investor. After the IPO, the promoter's holding will drop to 78% from 88%. The share of machined parts — a segment that enjoys higher realisation in forging — in the company's total volume has been consistently increasing and it has been able to source raw materials at a lower rate.

stocks that will be in focus today for various reasons. PB Fintech Japanese multinational investment firm Softbank Group sold further stake in PB Fintech through the open market on Friday, taking home Rs 914 crore. ZEE Zee Entertainment has sent a letter to Sony Group Corporation requesting an extension of the cutoff to complete the merger. Zydus Life Zydus has received approval from USFDA to initiate Phase II clinical trial of ZYIL1 in patients with Parkinson’s disease. Read more: Here's the trade setup for today's session Granules India US FDA has completed GMP inspection at Granules India’s Virginia arm with 5 observations. KFin Technologies Global private equity firm General Atlantic sold nearly 10% stake in KFin Technologies through the open market on Friday for Rs 851 crore. PVR Inox Plenty Private Equity fund through its affiliate has sold 2.1% stake in leading multiplex chain PVR Inox through bulk deals on Friday.

Wall Street, 2023 is a year to forget. Global investment banks turned almost unanimously optimistic on the market around this time last year, only to be confounded by a 14% drop in the MSCI China Index. Now, as policymakers ramp up efforts to arrest a housing slump and extend funding support for the broader economy, hopes are building again that 2024 will be better. But it's a case of once bitten, twice shy. This time around, expectations are much more modest. «It's like we've stood still in time for 12 months.

Mint takes a look at the evidence: In his concurring but separate opinion on the abrogation of Article 370, Kaul recommended the creation of a Truth and Reconciliation Commission for Jammu and Kashmir to investigate and report on rights violations by both State and non-State actors at least since the 1980s and recommend measures for reconciliation. Kaul said that such a commission would encourage dialogue and could help resolve the distrust and tension that has built up in J&K over decades. Kaul’s recommendation was positively received by attorney general R.

how to apply it in practice. If there were some way we could agree on a fair share for every country in the global carbon budget, countries could be required only to live within this share, while being left free to determine how to do it. Net zero dates would be irrelevant.

MUMBAI : Pushed back by a lull in private sector investments, India’s state-owned banks continued to lose market share in loans to private rivals, showed data from the Reserve Bank of India (RBI). The loss in market share was visible in deposits too. The share of public sector banks in deposits shrunk 119 basis points (bps) between March and September 2023.

Kuwait's emir Sheikh Nawaf al-Ahmad Al-Sabah, who was defence minister when Iraq invaded the oil-rich country in 1990, was laid to rest Sunday in a low-key funeral, a day after he died aged 86. Foreign leaders and envoys were later due to pay their final respects, including the Saudi de facto ruler, the kings of Bahrain and Jordan, and US Defense Secretary Lloyd Austin.

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As the crypto market enters another week of trading, Bitcoin (BTC) has seen a slight decline to $41,978, dropping by nearly 50% on Sunday. This move coincides with a significant amount of Bitcoin, worth approximately $860 million, being transferred to exchanges, which could be indicative of a potential major sell-off on the horizon.

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Thanks to the most aggressive rate hike cycle in recent years, the central bank has managed to contain inflation without causing a recession — so far.

WITH SUBSCRIPTION TO the next tranche of sovereign gold bonds (SGBs) open from December 18 to December 22, investors should look at investing in these bonds and lock-in for eight years to earn tax-free returns. The issue price is fixed at `6,199 per gram of gold and investors will get a discount of `50 per gram on online purchase through digital payments. The final  tranche for this financial year will be open for subscription from February 12 to February 16.

Question: What are the disclosure requirements for Indian residents who hold foreign assets? Answer by Dr Suresh Surana, Founder, RSM India: 1.0 Applicable Schedule in the ITR: Schedule FA (i.e. Schedule on Foreign Assets held outside India) must be filled by every individual taxpayer who is a resident and ordinarily resident in India and owns or has a beneficial interest in assets abroad or derives income from foreign sources during the relevant calendar year or has signing authority in any account outside India. As such, Schedule FA need not be filled by those having status of either non-residents (NR) or Resident but Not Ordinarily Resident (RNOR). For instance, an Indian investor buying US stocks from international brokerage platforms cannot opt for Form ITR-1 (SAHAJ) or ITR-4 (SUGAM) for filing their ITRs and would be required to file their income tax return in Form ITR-2 or ITR-3, as applicable.