Lowe's Financial News

BRICS intensified discussions on expansion and a common currency. Originally comprising Brazil, Russia, India, and China, BRICS was coined by Goldman Sachs in the 1990s to encourage investment in emerging economies. South Africa, the first non-original member, aptly led a summit centered on group expansion.BRICS expanded its wings: The BRICS meeting concluded, and the good news is that they are happy to shake hands with 6 more countries- Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United Arab Emirates (UAE). Currently, the core BRICS countries control around 23% of global exports and 19% of global imports, and the new members would add 3.7% and 3.0% respectively, with Saudi Arabia being the biggest individual new member in terms of exports and the UAE the biggest new importer. What BRICS+ have now? This alliance includes six leading crude oil producers—Saudi Arabia, Russia, China, UAE, and Iran—yielding substantial energy and geopolitical influence. It unites three top African economies—Egypt, South Africa, and Ethiopia—and South America's key players, Brazil, and Argentina. Strikingly, this coalition bridges the divide between ideological rivals: Sunni-majority Saudi Arabia and Shia-majority Iran. With a diverse mix of economic, energy, and political dynamics, this alignment reflects a complex global landscape where nations with disparate interests find common ground, underscoring the intricate interconnectedness shaping today's international relations. Saudi Arabia, China, Russia, India, and other nations have rapidly bolstered trade and relations.

Siemens Ltd. traded at Rs 3888.25 on BSE at 10:30AM (IST) on Thursday, up 0.51 per cent from previous close. The scrip quoted a 52-week low price of Rs 2670.35 and a high of Rs 4066.1. Earlier, the stock saw a gap up opening in the morning. A total of 2,941 lakh shares changed hands on the counter till 10:30AM (IST). The stock of Siemens Ltd.

Avenue Supermarts Ltd. fell 0.02 per cent to Rs 3735.0 in Thursday's trade as of 10:25AM (IST) even as the benchmark Nifty ruled at 19348.05, up 0.6 points. The scrip had closed at Rs 3736.0 in the previous session.

Domestic benchmark index NSE Nifty gained 12.0 points to 19335.45, while the BSE Sensex traded 4.2 points up at 65091.45. On the other hand, Hercules Hoists, SRG Housing Fin, VELS Film Internatio, Pritika Engineering and Shalby stocks hit their fresh 52-week highs today. In the Nifty 50 index, Hindalco, Tech Mahindra, LTIMindtree, Maruti Suzuki and HCL Tech were among the top gainers on the NSE. Adani Ent., Adani Ports SEZ, Eicher Motors, BPCL and Bajaj Finance were among the top losers.

Zomato Ltd. traded 1.06 per cent down at Rs 98.82 on Thursday at around 10:35AM (IST), while the benchmark BSE Sensex advanced 5.34 points to 65092.59. As many as 3,649,655 shares changed hands on the counter with a total value of Rs 3643.0 crore. The stock quoted a 52-week high price of Rs 102.85 and a 52-week low of Rs 44.35. On the technical charts, the 200-DMA of the stock stood at Rs 65.54, while 50-DMA was at Rs 84.48.

Sensex traded 157.66 points higher at 65244.91. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 775.0 and a 52-week low of Rs 557.15 on NSE. Around 35085 shares changed hands on the counter till 10:00AM (IST). The stock opened at Rs 675.0 and has touched an intraday high and low of Rs 678.6 and Rs 672.55 during the session so far.

Bharat Forge Ltd. traded 0.69 per cent higher in Thursday's session at 10:10AM (IST).

Adani Group shares today fell up to 3% as George Soros-backed Organised Crime and Corruption Reporting Project (OCCRP) attempted an ambush on Adani Group by claiming that two men who secretly invested in the conglomerate have close ties to the Adani family. Shares of Adani Power, Adani Energy Solutions and Adani Green led the downside by dropping 3% each.

JB Chemicals & Pharmaceuticals Ltd, part of the pharma industry, has rallied more than 40% in just 3 months which pushed the stock to a fresh record high in August 2023, but the rally may not be over yet, suggest experts. The stock rose from Rs 2064 on May 26th, 2023 to Rs 2921 recorded on 28th August 2023 which translates into a rise of over 40% in 3 months. The stock hit a record high of Rs 2935 on 28th August 2023. Most of the technical indicators suggest that the rally is likely to continue.

Dipan Mehta, Director, Elixir Equities, says “look at the kind of festive season planning which is taking place. Retailers, be it in electronics or consumer goods or even some of the other consumer businesses, are revving up to having a fabulous festive season as well, maybe some amount of dampener because of a subpar monsoon. But by and large, we are going to see hectic spending taking place for the next few months’ right up to December.”We are already at Rs 100 on Zomato. I mean, the market has clearly moved at almost 60% odd year-to-date from those R 40 odd lows. Would you still recommend buying into Zomato, if at all you like the story?Certainly, we like the story and clearly the management is following through on its plan.

Gusty winds and low humidity have brought a high risk of wildfires to the interior of Northern California

bonds. Many of these instruments are yielding double-digit returns in the range of 10% to 15% depending on the credit profile, but investment advisors warn such papers carry elevated risks that require careful vetting. These bonds are mostly offered by non-bank finance companies (NBFCs), small finance banks, fintech companies and microfinance lenders among others. Their tenure is mostly one to five years and are available on online platforms such as Indiabonds, BondsIndia, GoldenPi, Wint Wealth, Bonds Kart, Grip Invest and Leaf Round. For now, these products are trending among traditional yield-chasers. These bonds yield about 300-500 basis higher than conventional products, like bank deposits and postal savings. The trigger for their growing popularity among individuals in the highest tax bracket has been the recent changes in the taxation of debt mutual funds. In an unexpected move, the government said from April 1 capital gains arising from investments made in debt mutual fund schemes would be added to taxable income and taxed in line with the income tax slab rate. As a result, the indexation benefit in debt mutual funds that lowered the tax outgo for investments held for more than three years went.

RBI) at its latest bi-monthly monetary policy committee (MPC). RBI Governor Shaktikanta Das-led rate-setting panel projected India's real GDP growth for 2023-24 at 6.5 per cent with Q1 growth rate at 8 per cent.

India Railways Catering & Tourism Corporation (IRCTC), a part of the travel-related services industry, has rallied more than 20% from March 2023 lows and is now trading near crucial support levels, which suggests a bounce back.Short-term traders can look to accumulate the stock for a bounce back, which may take it above Rs 700 levels in 1-2 months, suggested experts.IRCTC stock hit a 52-week low of Rs 557 on 29 March before heading higher.

Nirmala Sitharaman sees the private capex cycle as having turned after prolonged slack, she told this paper this week. There is evidence that government capex has crowded in private investment in infrastructure. A revival in housing has also improved investment appetite in industries like steel and cement.

Ali Bongo's third-term victory in a disputed election. The military intervention, marking the eighth such instance in West and Central Africa since 2020, has raised concerns about the erosion of democratic progress in the region. With echoes of recent military takeovers in nearby countries like Mali, Guinea, and Burkina Faso, the situation highlights the fragility of political stability and the complex challenges facing the African continent.

(Reuters) -Jack Daniel's maker Brown-Forman missed quarterly profit expectations on Wednesday, hurt by higher input costs and sluggish demand for its pricier whiskeys like Woodford Reserve and Gentleman Jack in the U.S.

Wednesday, August 30th, 2023 – Altcoin season looks set to take off, and new meme coin Sonik Coin in a show of strength, has raised more than $750,000 from hungry investors.

Victoria and South Australia face an increased risk of rolling blackouts this summer, the electricity grid operator has warned, as the return of an El Niño weather pattern brings a hot, dry summer with lower wind output.

Spain and Germany inflation releases could give some indication on the bloc's wider numbers due on Thursday. Inflation in Germany's most populous state, North Rhine-Westphalia (NRW), rose by 5.9 % year-on-year from 5.8% in July, supporting expectations that the European Central Bank's tightening cycle might not end soon. In Spain, consumer prices rose 2.6% year-on-year in August from 2.3% in July, and in line with the 2.6% expected by analysts polled by Reuters. Money markets raised their bets on a September rate hike from the ECB, pricing in a 60% chance of a 25 basis-point move. «A September hike at this stage could be more of a coin toss, but more importantly, we sense that the hawks will see it as a last chance to hike one final time,» said Benjamin Schroeder, senior rates strategist at ING. «One key input to arrive at a final assessment is the inflation data this week,» he added. The euro edged 0.1% higher to $1.0887. The dollar index — which measures the currency against six major peers including the yen and euro — slipped 0.1% to 103.47. On Tuesday, the dollar index slumped 0.39% for its worst day in a month-and-a-half, after a slide in JOLTS job openings to a 2-1/2-year low spurred traders to pare bets for further U.S.

Commerce Secretary Gina Raimondo says she warned Chinese leaders that U.S. businesses might stop investing in their country without prompt action to address complaints about worsening conditions due to raids on firms, unexplained fines and unpredictabl...