Experts Financial News
12.12 / 15:25
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Bain Capital likely to sell 1.1% stake in Axis Bank via block deal: Report
Bain Capital is likely to sell a minor stake worth Rs 3,700 crore in Axis Bank through a block deal on Wednesday, according to media reports. Entities owned by the private equity firm are likely to sell 3.34 crore shares, representing 1.1% stake in the lender. The floor price for the sale has been set at Rs 1,109 a share, a discount of about 2% from the current market price.
12.12 / 13:55
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PM Modi calls for global framework for ethical use of AI at GPAI Summit
Modi on Tuesday flagged the threat falling of artificial intelligence (AI) tools in the hands of terrorists pose to the world as he called for a global framework for the ethical use of AI. Speaking at the Global Partnership on Artificial Intelligence Summit, he said AI can become the biggest tool for development in the 21st century but it also equally be a force in destroying the 21st century. «Besides the challenge of deepfakes, cyber security, and data theft, AI tools falling in the hands of terrorists pose a big threat. Global security will face a big threat if AI-laced weapons were to reach terrorist organisations. We have to deliberate on this issue and reach a concrete plan to stop the misuse of AI,» he said.
12.12 / 13:41
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PM Modi urges ‘extreme caution,’ safeguards from 'darker aspects of AI' during GPAI summit
AI is having a significant impact on both present and future generations. We must proceed with extreme caution. I believe that the suggestions and ideas emerging from this summit will help us safeguard the world from the potential risks and challenges posed by the darker aspects of AI," PM Modi said while addressing the summit.
12.12 / 12:41
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Pro Research: Wall Street dissects Visa's growth strategy
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12.12 / 11:55
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Food processing industry invests ₹7,126 crore under PLI scheme, says govt
₹7,126 crore under the production-linked incentive (PLI) scheme, with sales of ₹49,825 crore during April-September, a government statement said. So far, ₹584.30 crore in incentives has been disbursed for FY22. (Under the scheme, beneficiaries are required to furnish incentive claims for a specific financial year by 31 December of the following financial year).
12.12 / 11:15
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Stock market update: Nifty IT index falls 0.06%
Shares of Tata Consultancy Services Ltd.(up 0.8 per cent), Wipro Ltd.(up 0.38 per cent) and L&T Technology Services Ltd.(up 0.06 per cent) ended the day as top gainers in the pack. On the other hand, Infosys Ltd.(down 0.83 per cent), Tech Mahindra Ltd.(down 0.57 per cent), LTIMindtree Ltd.(down 0.21 per cent) and Coforge Ltd.(down 0.13 per cent) finished as the top losers of the day.
12.12 / 11:15
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Sensex falls! These stocks fell 5% or more in Tuesday's session
On the BSE, PI Industries(down 10.02 per cent), Alexander Stamps(down 9.99 per cent), Inditrade Capital (down 9.71 per cent), Dipna Pharmachem(down 9.51 per cent) and Narbada Gems(down 9.00 per cent) stood among the top losers in today's trade. In the Nifty pack, 18 stocks closed in the green, while 31 stocks ended in the red.
12.12 / 11:15
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Stock market update: Nifty Pharma index falls 0.48%
Shares of Alkem Laboratories Ltd.(up 1.48 per cent), Dr. Reddy's Laboratories Ltd.(up 1.22 per cent), Lupin Ltd.(up 0.85 per cent), Granules India Ltd.(up 0.77 per cent) and Aurobindo Pharma Ltd.(up 0.68 per cent) ended the day as top gainers in the pack.
12.12 / 11:15
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Share market update: Most active stocks of the day in terms of traded value
The NSE Nifty index ended the session 90.7 points down at 20906.4, while BSE Sensex fell 377.5 points to 69551.03. In the Nifty index, HDFC Life Insurance Company Ltd.(up 5.18 per cent), UltraTech Cement Ltd.(up 1.99 per cent), Bajaj Auto Ltd.(up 1.89 per cent), SBI Life Insurance Company Ltd.(up 1.43 per cent) and Axis Bank Ltd.(up 1.30 per cent) stood among the top gainers.
12.12 / 08:53
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Sun Pharma share price declines as it revises bid to buy balance Taro stake
Sun Pharmaceutical Industries share price, having gained 56% in the last six months, declined 1.91% in intraday trades on Tuesday. Sun Pharma remains in focus over its plan to acquire 100% ownership in its US subsidiary Taro Pharmaceutical Industries. Sun Pharma, after having announced its strategic plan in May 2023 to acquire 100% ownership of Taro now has increased its bid to purchase the outstanding shares of Taro Pharma.
12.12 / 08:53
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Retail inflation likely rose near 6% in November; should investors be worried?
Mint poll of 23 economists, India’s retail inflation likely rose 5.8 per cent in November. A Reuters poll of 41 economists predicted India's November CPI rose 5.70 per cent in November. On the other hand, the estimates of global financial firm Barclays show India's CPI-based inflation might have risen above the RBI's tolerance limit of 6 per cent in November.
12.12 / 08:53
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Despite a 10% rise, this remains the worst-performing index in 2023 so far
Vedanta (down 20 percent) and Adani Enterprises (down 26 percent). All others have been in the green. Meanwhile, 2 have given multibagger returns this year with Jindal Stainless surging 128 percent and Welspun Corp up 123 percent.
12.12 / 08:31
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Crypto Price Today: Bitcoin trades below $41,800 ahead of US CPI and interest rate decision
XRP (-0.6%), and Dogecoin (-2.3%) were trading in the red, while BNB (7%), Solana (2.1%), Cardano (4.2%), and Avalanche (15%) were trading in the green. Meanwhile, the global cryptocurrency market cap declined by 0.21% to around $1.58 trillion in the last 24 hours. At 12.50 p.m., BTC was trading 1.1% lower at $41,786. In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, fell to $817 billion. Bitcoin has had a rough start to the week with a wick towards $40,300 today. It is now recovering and consolidating near $41,800. As market structure has not yet changed fundamentally, hopes of a rally towards $48,000 remain strong as we lead to the year's end, said Vikram Subburaj, CEO of Giottus Crypto Platform.
12.12 / 07:55
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Bitcoin Price Prediction: Market Reacts to FOMC Meeting, El Salvador Bond & Google’s New Ad Policy
In the dynamic world of cryptocurrency, Bitcoin (BTC) is experiencing subtle yet noticeable fluctuations, trading at $41,457 with over 0.50% rise as of Tuesday. Market sentiments are heavily influenced by key economic events and policy changes. As the Federal Open Market Committee (FOMC) meeting approaches, noted Fed observer Jim Grant anticipates long-term high rates, casting a significant impact on Bitcoin’s valuation.
12.12 / 07:21
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RVNL rises over 4% as JV emerges lowest bidder for Rs 543 crore project
Rail Vikas Nigam (RVNL) rose over 4% to Rs 185.6 in Tuesday's trade on BSE after a joint venture of the company emerged as the lowest bidder for a project worth Rs 543 from Madhya Pradesh Metro Rail Corporation. «RVNL-URC joint venture emerges as the lowest bidder for part design and construction of an elevated viaduct, five elevated metro rail stations (viz. Shaheed Bagh, Khajrana Chauraha, Bengali Chauraha, Patrakar Colony and Palasia Chauraha) and ramp for Indore Metro Rail Project,» the company said in an exchange filing. The project is to be completed in 1,092 days. At 11.03 am, the scrip was trading 1.5% higher at Rs 180.8 on BSE.
12.12 / 07:21
Experts
Shares of Vedanta rise as Nifty gains
Vedanta Ltd. gained 0.44 per cent to Rs 249.65 in Tuesday's trade as of 12:28PM (IST). It hit a high of Rs 251.4 and low of Rs 247.45 during the session.
12.12 / 07:21
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8 banks that have revised home loan, other loan interest rates in December 2023
marginal cost-based lending rate (MCLR) and repo-linked lending rates (RLLR) in December 2023. Banks that have revised their MCLR are IDBI Bank, Union Bank of India, Bank of Baroda, ICICI Bank, Canara Bank, Punjab National Bank (PNB), Bank of India and Bandhan Bank. Canara Bank has also revised its RLLR with effect from December 12, 2023. Here’s the latest MCLR and RLLR of the above-mentioned banks.
12.12 / 07:21
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LTIMindtree shares gain 0.33% as Sensex falls
LTIMindtree Ltd. traded 0.33 per cent higher in Tuesday's session at 12:33PM (IST). The stock opened at Rs 5798.0 and has touched an intraday high and low of Rs 5820.8 and Rs 5750.0, respectively, during the session so far.
12.12 / 07:11
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YES Bank share price jumps over 7%; is the stock buy-worthy? Here's what technical experts say
YES Bank share price jumped over 7 per cent in morning trade on BSE on Tuesday, December 12, amid reports that the lender has invited expressions of interest for the sale of NPAs worth ₹4,234 crore. "YES Bank has invited expressions of interest (EoI) for the proposed sale of NPAs worth ₹4,234 crore," according to a report by The Hindu Businessline. "The private sector lender has put on the block corporate NPAs worth ₹3,092 crore which includes fund-based outstanding of ₹3,073.66 crore and non-fund-based outstanding of ₹17.83 crore as of October 31, 2023," the report further added.
12.12 / 07:11
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IREDA stock races to ₹100. What’s next for the company?
internet boom and quit his high-paying job to launch Amazon. The internet was growing at the rate of 2,300% a year back then, so you can see what enticed Bezos to start what is now the world’s fifth-largest company. While we can’t all leave our jobs to follow a fast-growing trend, what we can do is invest in companies that drive such trends.
12.12 / 07:11
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Watch: Shah Rukh Khan secretly visits Vaishno Devi before Dunki movie release; another ₹1,000 crore?
Bollywood movie, Dunki, Khan visited the sacred shrine in Jammu. This is his third pilgrimage to Vaishno Devi in the last 12 months. SRK was spotted at Vaishno Devi and was accompanied by his team of bodyguards and his manager, Pooja Dadlani.
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