Experts Financial News

IREDA IPO: The initial public offering (IPO) of Indian Renewable Energy Development Agency Ltd opened for subscription on Tuesday. Three day subscription of the public issue will end on 23rd November 2023, which means investors have just one day in hand to apply for this public offer. As per the IREDA IPO subscription status, the public issue has been subscribed 4.56 times after two days of bidding.

Sensex closed 92.47 points higher at 66,023.24, while the Nifty 50 settled 28.45 points, or 0.14%, higher at 19,811.85. Nifty 50 formed a small positive candle on the daily chart with a long lower shadow. “Technically, this pattern indicates a formation of hanging man type formation, which is a bearish reversal pattern.

Gold prices edged higher on Thursday, hovering close to a key $2,000 per ounce level, as an overall weaker dollar and lower U.S. Treasury yields buoyed demand for bullion. FUNDAMENTALS * Spot gold was up 0.1% at $1,992.59 per ounce, as of 0143 GMT, after hitting a three-week high of $2,007.29 on Tuesday. * U.S. gold futures were steady at $1,993.30. * The dollar was down 0.1% against its rivals after gains in the last two sessions and making gold less expensive for other currency holders.

highs, while a slim majority of stock market experts polled by Reuters expected their markets to touch new peaks within the next six months. Much will depend on interest rate expectations now central banks are mostly done with a season of aggressive rate rises since the COVID pandemic to dampen a burst of inflation still not completely under control. Traders and analysts mostly assume the U.S. Federal Reserve will be cutting interest rates by the middle of next year, an outcome that is far from certain and does not clearly align with policy statements from top central bankers.

Sensex climbed 92 points to settle at 66,023, while the Nifty edged higher by 28 points to end at 19,811. Stocks that were in focus included names like Delhivery, which fell 4.15%, CG Power, which gained 20%, and IDBI Bank, which rose 3% on Wednesday. Here's what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today. Delhivery (Bearish) The stock has experienced a breakdown below its critical support level of 395. This breach of the trendline suggests a potential decline towards the 375 and 360 marks in the coming weeks.

bond index has imparted volatility to the domestic debt market, causing the 10-year benchmark yield to swing close to a tenth of a percentage point. Market sources told ET that at the conclusion of a recent meeting with the advisers to the Bloomberg index, some investors had raised concerns over lack of necessary systems in place to facilitate trade in Indian government bonds. Bloomberg Index Services has not yet made an official announcement. Late September, JP Morgan became the first major global index to include Indian government securities, paving the way for up to $24-25 billion of inflows over the next couple of years. «After the move by JP Morgan, there was increased activity surrounding the Bloomberg index too. Some large investors were in favour but there are many others who have cited lack of operational preparedness for trading Indian government bonds,» a source said on the condition of anonymity. Starting November 16 — which some market players said was the day of the last Bloomberg index committee meeting — yield on the 10-year benchmark government bond has swung sharply. Yield on the benchmark security, which determines pricing for a host of credit products, fell to a low of 7.20% on November 16 and then went on to jump as much as seven basis points to 7.27% on Wednesday.

investors have raised their stakes in ICICI Securities, the investment banking and broking arm of ICICI Bank, in the past three months after the company announced delisting plans in June. Market watchers said these institutions may be buying the shares in anticipation of better terms in the delisting process.

IOB) has put a ₹457- crore portfolio of non-performing assets (NPAs) from micro, small and medium enterprises (MSMEs) on sale The bank expects a minimum of 60% recovery with half of it in cash, documents accessed by ET showed. In a notification on its website, the bank said the portfolio includes 91 MSME loan accounts with outstanding of between ₹3 crore and ₹10 crore. The bank has set a ₹274 crore reserve price which is 60% of the total outstanding, of which it expects at least half, or ₹137 crore, in cash. «Preference will be given to bids or offers with a higher cash portion...management fee would be 1.5% per annum of net assets value… for first three years, 1.25% for the fourth, fifth and 0.75% for the sixth year onwards,» the bank said inviting bids from asset reconstruction companies, banks and alternative investment funds. Bids will commence on November 28 through e-auction, the bank said. «This is an early sign of the likely increase in NPAs from retail and MSME accounts which are bearing the brunt of the sharp increase in rates in the last one-and-a-half years.

Nippon Life India Asset Management has joined the likes of Centrum and Avendus to capitalise on the demand for private credit amid the tightening of norms by regulated entities such as banks and mutual funds pulling out of promoter funding. Nippon Life India Alternative Investment Fund, which is set to raise ₹1,000 crore, has already deployed ₹100 crore in two strategic deals and aims to secure an additional ₹1,000 crore through a green shoe option.

Creditors have withdrawn 26,518 insolvency cases involving defaults of as much as ₹9.33 lakh crore before their applications were admitted by the adjudicating authority since the Insolvency and Bankruptcy Code (IBC) came into force. The data compiled by the Insolvency and Bankruptcy Board of India (IBBI) is from late 2016, when the IBC was adopted, to August 2023.

By Aditya Soni

While experts had voiced their concern a few years ago with regards to the unsold inventory levels and impending launches in this specific micro-market, the performance since the outbreak of the pandemic has surprised many of them. The market has witnessed sales of over 722 apartments priced at ₹10 crore and above as against new launches of 532 apartments in the last 12 months, showed data from non-broking research firm Liases Foras Real Estate Rating & Research. «The south and central Mumbai's ultra-luxury housing market has shown almost three times sales growth driven by the segment's new launches. The ultra-luxury segment touched its best-ever inventory overhang in the last 15 years,» said Pankaj Kapoor, managing director, Liases Foras. In 2021, the market comprising south and central Mumbai had a total of 118 months' inventory and the same has now declined to 38 months. «Buyers are active in the market and are very choosy as many developers promised early delivery but did not deliver.

Sam Altman's return as OpenAI's chief executive will strengthen his grip on the startup and may leave the ChatGPT creator with fewer checks on his power as the company introduces technology that could upend industries, corporate governance experts and analysts said. OpenAI is bringing Altman back just days after his ouster as well as installing a revamped board that could bring sharper scrutiny to the startup at the heart of the AI boom, but strong support from investors including Microsoft may give Altman more leeway to commercialize the technology.

By Lisa Pauline Mattackal, Chris Prentice and Jonathan Stempel

Bank of India's move to mandate higher risk weights on consumer loan segment, the State Bank of India will see “moderation" in its unsecured lending portfolio, said SBI Chairman Dinesh Khara on Wednesday. He also said that the impact of higher risk weights will have a 0.02-0.03 per cent impact on its net interest margins in the December quarter. However, a better picture is likely to emerge in the next quarter, said Dinesh Khara.

interest rates would likely remain restrictive for some time, even as the rate-hike cycle appeared to be over. The Fed minutes showed the central bank would proceed «carefully» and that «all participants judged it appropriate to maintain» the current rate setting. Fed officials agreed they would raise interest rates only if progress in controlling inflation faltered, reiterating recent comments by policymakers that left the door open for more tightening even as markets have moved to price rate cuts from early next year. Markets are all but certain that the Fed will hold rates at its December meeting, while pricing in about a 28% chance of a rate cut as early as March, according to CME's FedWatch Tool. «Almost four rate cuts are fully priced for next year and that looks very aggressive,» said Niels Christensen, chief analyst at Nordea. «That said, it's not unusual for the Fed to cut by 50 basis points when they start cutting, so it could be possible,» Christensen added. The dollar index, which measures it against a basket of currencies, was 0.1% higher at 103.68, pulling away from its lowest level since the end of August at 103.17 it touched on Tuesday. The index is down about 2.8% in November and on course for its biggest monthly drop in a year. Analysts said market participants were eager to take money off the table before liquidity fizzles out before the U.S. Thanksgiving holiday. High U.S.

Shaktikanta Das on Wednesday said the rupee has witnessed "low volatility" and orderly movements as compared to its peers. Speaking at the annual FIBAC event, Das said household inflation expectations are becoming more anchored, but added that headline inflation is vulnerable to recurring and overlapping food price shocks. It can be noted that the rupee closed at an all-time low of 83.35 against the dollar on Monday, but gained some lost ground in Tuesday's trade.

New Delhi (India), November 21: We know that the term digital marketing is not new to you. The digital landscape is constantly thriving as businesses keep pushing boundaries to stand out. In order to make their mark, businesses often turn to professionals.

pet owners are on high alert as experts grapple with unraveling the mystery behind this canine ailment. Here's what we know so far, including symptoms to watch for and recommended precautions.

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