Lowe's Financial News

One is backed by the “higher-for-longer” rates mantra and the other by what can now be termed “lower-for-longer” rates preference. The odds of the US dollar reaching parity with the euro are still there but charts suggest the greenback will probably hit stiff resistance soon after rising relentlessly since the end of July.

Commercial property owners, already struggling with high interest rates and rising vacancies, face exploding insurance costs that keep hitting new highs. Natural disasters, inflation and a shrinking reinsurance market have pushed insurance premiums to record levels, echoing the surge in home insurance rates for much of the U.S. That leaves many landlords in a bind.

Domestic benchmark index NSE Nifty ended 9.85 points down at 19664.7, while the BSE Sensex closed 78.22 points down at 65945.47. On the other hand, Winsome Yarns, Shreyas Ship, Airan Ltd., IFCI and Divgi Torqtransfer stocks hit their fresh 52-week highs today. In the Nifty 50 index, Eicher Motors, Hero MotoCorp, Nestle India, Bajaj Auto and ONGC were among the top gainers on the NSE in the today's trade. Meanwhile, IndusInd Bank, Cipla, Tech Mahindra, Kotak Bank and Adani Ent.

Shares of IDFC First Bank Ltd.(up 1.32 per cent), Au Small Finance Bank Ltd.(up 1.04 per cent), Federal Bank Ltd.(up 0.5 per cent), HDFC Bank Ltd.(up 0.43 per cent) and State Bank of India(up 0.05 per cent) ended the day as top gainers in the pack. On the other hand, Bank of Baroda(down 1.72 per cent), IndusInd Bank Ltd.(down 1.36 per cent), Kotak Mahindra Bank Ltd.(down 1.13 per cent), Punjab National Bank(down 1.05 per cent) and ICICI Bank Ltd.(down 0.79 per cent) finished as the top losers of the day. The Nifty Bank index closed 0.32 per cent down at 44624.2. Benchmark NSE Nifty50 index ended down 9.85 points at 19664.7, while the BSE Sensex stood down 78.22 points at 65945.47. Among the 50 stocks in the Nifty index, 26 ended in the green, while 24 closed in the red. Shares of Vodafone Idea, JP Power, IFCI, IOB and Suzlon Energy were among the most traded shares on the NSE. Shares of Winsome Yarns, Shreyas Ship, Airan Ltd., IFCI and Divgi Torqtransfer hit their fresh 52-week highs in today's trade, while Rite Zone Chemcon In, Chavda Infra, Jiwanram Sheoduttrai, Jalan Transolutions and Essen Speciality Fil hit their fresh 52-week lows.

Bimlendra Jha, MD, JSPL, says “we have said that at any point of time our debt cannot exceed 1.5 times our EBITDA. We are currently at a very low debt level, so there is a lot of internal accrual that we expect to fund our expansions. We are being very conservative about it and it is going to be in line with our cash flow generation internally.”On JSPL’s expansion plansWe are continuously in a mode of expansion right now and we are doubling the capacity at Angul which is our plant in Odisha, which will double its capacity by next year. And as far as our other plant at Raigarh is concerned, again, we are working on improving the capacity almost two times the existing capacity within the next three years. We will also have further expansion of Angul after we have done our first phase of expansion right now.

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Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here While earlier the plans were made as per fixed budgets and available funds, the plans today levy more focus on aspirations and experience, irrespective of the cost, with TNPL as an option. “Factors such as demographics and economic conditions play a crucial role in their decision-making process.

Nirmal Bang remains cautious about the IT sector as it emphasises investors use the market rally to pare positions in IT stocks if overweight, especially in the tier-2 set. The brokerage firm has cut the FY25 revenue estimates for almost all its coverage as it expects a shallow US recession in 2024. "We advocate that investors use the ‘delayed/no landing’ rally seen since October 2022 to pare positions if overweight, especially in the tier-2 set," Nirmal Bang said in a note on September 26.

By Kevin Buckland

Shriram Finance Ltd. traded 2.03 per cent lower in Tuesday's session at 02:10PM (IST).

By Harry Robertson and Tom Westbrook

Investing.com — The U.S. dollar rose Tuesday, climbing to 10-month highs after bond yields soared to 16-year peaks amid growing expectations that U.S. interest rates will rise further this year.

Sunita Tools IPO: The initial public offering (IPO) of Sunita Tools Limited opened for subscription today. The public issue is offered at a fixed price of ₹145 per share. The issue will remain open for bidding till 29th September 2023.

Godrej Consumer Products Ltd. traded 0.36 per cent up at Rs 979.6 at 01:34PM (IST) on Tuesday, even as BSE benchmark Sensex dropped 51.21 points to 65972.48.

India has allowed the export of non-basmati white rice to the tune of 75,000 tonnes to the UAE. Notably, the export of non-basmati white rice was prohibited from July 20 to check the domestic prices and ensure domestic food security. The exports to UAE are permitted through National Cooperative Exports Limited, the Directorate General of Foreign Trade said in its notification on late Monday evening. While amending the export policy, DGFT maintained that the export will be allowed on the basis of permission granted by the government to other countries to meet their food security needs and based on the request of their government. Last month, India had decided to allow the export of rice to «meet the food security requirements» of Singapore. West African country Benin is one of the major importers of non-basmati rice from India.

ICICI Lombard General Insurance Company Ltd. traded 0.01 per cent up in Tuesday's trade at 01:24PM (IST).

The price of tomatoes in Maharashtra has plummeted from around Rs 200 per kilogram just a month ago to as low as Rs 3-5 per kilogram, leaving tomato growers in the state grappling with significant losses and few options. This sudden decline in prices was triggered by an unexpectedly high tomato yield, catching everyone involved in the sector off guard,, the Times of India has reported today. As per the report, many farmers are either abandoning their tomato crops or are destroying their produce, as they cannot even recover half of their investment.

India considers lithium mining royalty at 3% of LME price- govt sources The Reuters report while quoting government sources close to the matter noted, "The auction will happen soon and some overseas miners have shown interest" India has been exploring ways to secure lithium supplies with the first lithium deposits of 5.9 million tonnes found in Jammu and Kashmir in February this year. Lithium reserves were discovered during exploration by the Geological Survey of India (GSI) in the Reasi district of Jammu and Kashmir.

ideaForge share: The initial public offering (IPO) of ideaForge Technologies Limited were launched in last week of June 2023. The book build issue was offered at a price band of ₹638 to ₹672 per equity share. The public issue received strong response from investors and it listed at whopping listing premium on BSE and NSE in July 2023.

Marico Ltd. traded at Rs 581.65 on BSE at 12:48PM (IST) on Tuesday, up 0.52 per cent.