Experts Financial News

(This story originally appeared in on Dec 06, 2023)

Honasa Consumer Venture Capital Fund Fireside Venture Investments has sold partial stake in Mamaearth parent Honasa Consumer through bulk deals on Tuesday. Bank of India Bank of India has opened the qualified institutional placement book for bidding of shares by qualified institutional buyers. The state-owned lender has set the floor price for the QIP issue at Rs 105.42 a share. Dalmia Bharat Dalmia Bharat appointed Puneet Yadu Dalmia as Managing Director and CEO of the company for a period of 5 years with effect from December 8. SBI State Bank of India said that it will acquire a 20% stake in SBI Pension Funds Pvt Ltd for Rs 229.52 crore. Union Bank of India State-owned Union Bank of India has selected global tech major Accenture to accelerate its data-driven transformation. Infosys Infosys said it has received a communication for collection of penalty from an overseas authority. Bharti Airtel Bharti Airtel said it has received an order for penalty of Rs 3.95 lakh under the CGST Act.

Arka Fincap on Tuesday announced the sale of non-convertible debentures (NCDs) with a base size of ₹150 crore and an option to retain another up to ₹150 crore. The issue will open on December 7 and close on December 20.

«Going forward, investors will take cues from US Service PMI and Jolt Jobs data,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS Gift Nifty signals positive start Nifty futures on the Gift Nifty traded at 21,027 around 7.15 am, up 27.50 points or 0.13%, indicating a positive start for Dalal Street.

Canara Bank (CanBank) and Bank of Maharashtra are looking to raise up to ₹4,500 crore in bond sales amid surging demand for credit in a rapidly expanding economy. Canara Bank plans to carry out an issuance of additional tier-1 (AT-1) bonds with a base size of ₹1,000 crore and a greenshoe option of ₹2,500 crore on December 7, sources aware of the development told ET. The bonds are rated AA+/Stable by rating agencies Crisil and ICRA. Bank of Maharashtra is looking to raise up to ₹1,000 crore worth of funds through sale of a tier-2 bond around December 12-13, sources said.

El-Erian said the Fed may well tolerate higher inflation instead of pushing the economy into recession to hit its 2% target. But he also said investors are over-reacting by pricing in sharp rate cuts. Market prices have swung wildly in recent days as traders bet on a drop in borrowing costs amid signs that inflation is falling and comments from Fed Chair Jerome Powell that the actions taken so far have pushed policy «well into restrictive territory.» Speaking to Bloomberg Radio on Tuesday, El-Erian warned that the Fed needs to recover its credibility on forward guidance with the markets or the recent «tremendous loosening of financial conditions» will undermine its policy.

Buy or sell stocks for today: Following strong global market sentiments on end of rate hike cycle buzz, Indian stock market ended higher for sixth straight session on Tuesday. Nifty 50 index climbed to a new peak of 20,864 levels, BSE Sensex touched new life-time high of 69,381 whereas Bank Nifty index hit a new high of 47,230.

In the past three trading sessions, an average of ₹18,000 crore worth of 50 stocks comprising the Nifty index was delivered on both exchanges, marking a 66% increase compared to the daily average of ₹10,884 crore in November and of ₹11,265 crore in October. Delivery volume is the total number of stocks out of the total traded in a day that is delivered to the buyer. Delivery-based volumes in stocks are widely watched as they show whether the buying interest is coming from investors or traders. When delivery volumes spike in a share, it's a sign of interest among investors.

Sensex crossing the 69,000 mark for the first time on Tuesday as the market continued to ride the bullish momentum driven by pick up in foreign fund flows and Bharatiya Janata Party's wins in the recent state elections. The Nifty gained 168.30 points or 0.81% to close at 20,855.10. The Sensex rose 431 points or 0.63% to end at 69,296.14.

Apple is scouting for new suppliers — Indian, Japanese and South Korean — which can provide crucial components to its contract manufacturers in India, people aware of the matter told ET. This comes on the back of delayed government approvals for imports from existing suppliers — primarily of Chinese origin — of batteries, camera lens, chargers and other equipment required to make its flagship iPhones and iPads in India, they said.

Renewable energy companies have been among the hot investment themes on Dalal Street in the past six months as the government's thrust to boost clean power capacities is driving investor appetite in the sector. Shares of sectoral players such as Suzlon Energy, SJVN, NHPC, and NTPC, among others, surged between 25% and 225% in this period but analysts said investors must tone down their expectations of lofty returns from here on. The government's target to achieve 500 GW of renewable energy generation by 2030 is making market participants positive about these firms.

Bajaj Group surpassed Rs 10 lakh crore on Tuesday, making it the fifth conglomerate to achieve this milestone after Tata Group, Reliance Industries, HDFC Bank, and Adani Group. The Bajaj Group has gained nearly 21% in overall market value since January 1. This surge can be attributed to the robust performance of three companies — Bajaj Auto, Maharashtra Scooters and Bajaj Finance.

The rally propelled the group's market capitalisation to an 11-month high of ₹13.88 lakh crore, a gain of ₹3.61 lakh crore since November 28 after the Supreme Court had reserved its judgment on pleas seeking an investigation into the allegations made by Hindenburg against the Adani Group. Oral observations by the court that the Hindenburg report need not be taken as «gospel truth» had been seen by the market as positive. Group chairman Gautam Adani saw a rise in his ranking among the world's wealthiest individuals on Monday, climbing from 20 to 16, with a net worth of $70.2 billion.

(Reuters) -The U.S. Federal Trade Commission has sent shale oil producer Pioneer Natural Resources (NYSE:PXD) and Exxon Mobil (NYSE:XOM) a second request for more information on their $60 billion takeover deal, Pioneer said on Tuesday.

New Delhi: India is looking to create a tunnel safety system as part of a broader effort to fortify the extensive tunnel network across highways, railways and metro systems in the country, people familiar with the development told ET. This will include forming an audit team with experts from various IITs and setting up a world-class tunnelling centre under IIT Delhi to research and propose enhanced safety measures for tunnels that are benchmarked to international levels, the people said. They added that the move is aimed at preventing recurrence of mishaps like the recent Silkyara tunnel collapse in Uttarakhand in future.

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insurance, real estate, and business services. Experts pointed out that although growth moderated in November, some segments that have cooled should pick up in the coming months, lifting the overall growth of the sector. While “electricity, gas, water supply and other utility services" and construction had seen double-digit growth in the September quarter, trade, hotels, transport, communication and services related to broadcasting had seen a moderation in the July-September period, as per GDP data released on 30 November.

Millions of people move money from a workplace 401(k) plan to an individual retirement account each year.

Bitcoin is once again having a moment

Grayscale, a prominent name in the crypto investment sphere, recently made waves with its update on the approval status of the Grayscale Bitcoin Trust’s (GBTC) Spot Bitcoin ETF. This long-awaited development has sparked anticipation and excitement. Meanwhile, Ethereum (ETH) and Everlodge (ELDG) are seeing price surges. Let’s discover why.

general elections near, one should expect more disinformation and narrative peddling till May 2024. Expert commentary on the Indian economy has changed since May 2014, and a convenient short-hand is the classification BM (Before Modi) and AM (After Modi). AM has a nice waking-up ring to it.