Experts Financial News

Binny Bansal is launching an AI-as-a-service startup that will target global customers, expanding to the fast-growing segment after making a fortune in Indian e-commerce. Bansal, who co-founded online retailer Flipkart and sold it to Walmart Inc., has hired 15 experts for the venture — mostly artificial intelligence scientists — and plans to quickly add more, according to people familiar with the matter. He wants to offer AI talent, products and services to corporate customers, emulating the business model of outsourcing providers like Tata Consultancy Services Ltd. and Infosys Ltd., the people said, asking to not be named as the effort isn’t yet public.

Walmart Pays $3.5 Billion to Hike Stake in Flipkart The 40-year-old billionaire, who co-founded e-commerce major Flipkart and made a profit selling his stake to Walmart Inc., is looking to tap the country's large English-speaking young population to train more experts for new AI services. The focus will be on “training talent and offering services" from smaller cities in India, the report said. Bansal did not respond to queries, the report added.

BSE Sensex ended 594.91 points higher at 64,958.69, while the NSE Nifty 50 rallied 181.15 points, or 0.94%, to close at 19,411.75. The Nifty 50 index formed a reasonable bull candle on the daily chart with minor upper and lower shadow. The opening upside gap of the last three sessions remains intact.

Dividend stocks 2023: Shares of DB Corp Ltd, Marico Ltd, Oriental Carbon & Chemicals Ltd, Siyaram Silk Mills Ltd, Sonata Software Ltd, Supreme Industries Ltd, Transport Corporation of India Ltd, Vaibhav Global Ltd, and Venus Pipes & Tubes Ltd will be in focus when the stock market opens today. The board of directors of these companies have declared dividends for its eligible shareholders.

Buy or sell stocks for today: Following strong global market sentiments, Indian stock market sentiments ended higher for third straight session. Nifty 50 index advanced 181 points and closed at 19,411 levels, BSE Sensex shot up 594 points and ended at 64,958 mark whereas Bank Nifty index finished 301 points up at 43,619 levels.

Honasa Consumer IPO: Listing date of Mamaearth's parent Honasa Consumer Limited on Indian exchanges has been fixed on 7th November 2023 i.e. today.

Nykaa FSN E-commerce, which operates beauty and fashion retailer Nykaa, posted 53% growth in its consolidated net profit at Rs 7.8 crore for the quarter ended September. Shree Cement, Info Edge, Power Grid Shares of Shree Cement, Info Edge, and Power Grid will be in focus as the companies will announce their second quarter results. Read more: Here's the trade setup for today's session Mamaearth Shares of Mamaearth will debut on the exchanges today. The stock is expected to list with a mild premium. HPCL HPCL reported net profit of Rs 5,118 crore for the quarter ended September.

MUMBAI: Bajaj Finance said it plans to raise as much as 8,772.5 crore in share sale to investors, reports Our Bureau. The company said it would sell 12.1 million shares at 7,250 apiece, a discount of about 5% to Monday's closing price.

ASK Automotive on Monday said it has mobilised a little over Rs 250 crore from anchor investors ahead of its initial share sale which opens for public subscription on Tuesday. The company has allotted 88.71 lakh equity shares to 25 funds at Rs 282 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website. At the price, the company has garnered Rs 250.17 crore from anchor investors.

«Overall we expect the market to remain positive over the next few days ahead of the Diwali festival over the weekend. Action could be seen in broader market with niche segments in stronger momentum,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services Here's breaking down the pre-market actions: STATE OF THE MARKETS GIFT Nifty (Earlier SGX Nifty) signals a muted start GIFT Nifty on the NSE IX traded lower by 16 points, or 0.08 per cent, at 19,464, signaling that Dalal Street was headed for muted start on Tuesday. India VIX: India VIX, which is a measure of the fear in the markets, rose 2.04% to settle at 11.10 levels. US stocks gain U.S. stocks closed slightly higher on Monday as investors awaited guidance from a host of Federal Reserve policymakers later in the week on the central bank's policy path, with a large amount of bond supply also due to hit the market. Asian shares dip Asian stocks edged lower as fresh doubts emerged on whether the Federal Reserve has finished tightening policy, with gains in US shares limited by a rise in bond yields.

Adani Capital last week raised 100 crore through the issuance of non-convertible debentures with a coupon rate of 9.65% and a three-year tenor set to mature on November 6, 2026. These debentures, with a face value of 1 lakh each, will offer a quarterly interest payment schedule, with the bond offering categorised as secured, rated, listed, fully paid up, redeemable, and transferable non-convertible debentures. The bond issuance went through bidding on November 3, at the BSE with the pay-in date set for November 6.

Analysts at most brokerages retained their share price targets on State Bank of India, after the lender's second quarter results beat market estimates. The stock, however, slid 0.7% to ₹573.95 in a firm market on Monday. The average price target on State Bank of India of all analysts compiled by Bloomberg following the second quarter results is at ₹715.11, implying an upside of 24.5% over Monday's closing. Jefferies said SBI is one of the best PSU bank franchises, with a strong current account savings account (CASA) franchise and digital-banking platform.

As the famous quote goes, nothing is certain in life except death and taxes. Carolyn McClanahan, founder of Life Planning Partners, knows both intimately, having started out as an emergency room physician. “Now, nothing seems as challenging as that,” she says.  

Victoria’s Suburban Rail Loop Authority has spent $126 million during its first 18 months of operations, with the “key achievement” being the laying of a 630-metre sewer pipe, annual reports reveal as experts call for it to be paused.

Costs for some key health insurance components have slowed for workers in recent years. While the deceleration is a positive trend, many workers likely still find current prices unaffordable, experts said.

₹2 trillion this financial year as higher consumption and costlier natural gas drive it past initial estimates of ₹1.75 trillion, experts at rating agencies said. In the first six months of FY24, fertilizer subsidies have already crossed 63% of the full-year allocation. Out of the ₹1.12 trillion fertilizer subsidy spent this year, about ₹67,926 crore went into urea and ₹42,200 crore into P&K (phosphatic and potassic) fertilizers.

NEW DELHI : JioCinema, owned by Reliance Industries, is adopting a measured approach to its web original strategy by focusing on mid-sized web shows, with estimated annual budget of about ₹1,000 crore, excluding sports. This budget is roughly half the size of leading competitors like Netflix as the platform’s current strategy on web originals is driven by volume primarily to sustain audience interest post-IPL.

Suella Braverman sparked a row, as she described living on the streets as a “lifestyle choice" adopted by some residents in Britain, particularly those coming from abroad. “The British people are compassionate. We will always support those who are genuinely homeless.

The decades-old surgical drug ketamine has found a new use — as an alternative to opioids for patients with chronic pain

Zomato CEO and co-founder, Deepinder Goyal got 33,422 shares in the public issue of Mamaearth's parent Honasa Consumer, reported Moneycontrol after reviewing the bid-allottee data document. Also Read: Mamaearth IPO: What does the latest GMP signal ahead of listing; Check key details However, former Shark Tank judge, Ashneer Grover's name was missing from the list of allottee and non-allotte, reported on the business website. Details of Zomato co-founder Deepinder Goyal mentioned in the documents were confirmed by an MC source.

Cello World listed with a healthy premium of 28% on the exchanges on Monday. On listing, the stock witnessed some profit booking and closed the day with a 22% gain over the issue price. Analysts believe the premium listing is justified on the back of reasonable IPO valuations, following a strong product demand, financial track record and reputed brand presence. The IPO received a positive response from investors with subscriptions of nearly 42 times at close. «After such a strong listing, investors may book profit.