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Power Finance Corporation (PFC) rose 6% to a day’s high of Rs 501.65 on the BSE after the company reported a more than 20% increase in consolidated net profit to Rs 7,182 crore for the June 2024 quarter. Total income for the quarter grew to Rs 24,736.68 crore, up from Rs 21,017.81 crore in the same period last year.

FirstCry, was subscribed just 17% on the second day of the bidding process on Wednesday. As of 11:45 a.m., the issue attracted bids for merely 82,74,368 shares, or 0.17 times the issue size of 4,96,39,004 shares. The quota reserved for retail individual investors (RIIs) was subscribed 71%. The issue was subscribed 12% in the NII category. There were just 2,752 shares bid by the qualified institutional buyers, out of the 2,70,36,953 shares reserved for them.

Adani Power Ltd. traded 1.13 per cent up at Rs 695.05 at 11:46AM (IST) on Wednesday, even as BSE benchmark Sensex gained 686.64 points to 79279.71. The stock had settled at Rs 687.25 in the previous session. The stock quoted a 52-week high price of Rs 896.75 and 52-week low of Rs 264.75, respectively. As per BSE data, total traded volume on the counter till 11:46AM (IST) stood at 80406 shares with a turnover of Rs 5.6 crore.

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₹1 lakh for up to 150 clients, ₹2 lakh for 150-300 clients, ₹5 lakh for 300-1,000 clients and ₹10 lakh for more than 1,000 clients. RIAs and RAs presently charge fees under two modes—assets under advice (AUA) mode (limit of 2.5% of AUA per annum per family of client) and fixed fee mode (limit of ₹1,25,000 per annum per family of client). If they wish to change the mode, the same can be effected only after 12 months since the last change of mode.

fiscal deficit will decide on the direction of sovereign ratings. S&P Director, Sovereign and International Public Finance Ratings (Asia-Pacific), Andrew Wood said the rating agency sees a lot of promise in India's economic growth story even though the global economic growth outlook remains somewhat challenging. «We could raise the rating if India's fiscal deficit narrows meaningfully such that change in net general government deficit falls below 7 per cent of GDP on a structural basis,» Wood said at a webinar on Asia-Pacific.

Indian consumers prefer human customer service support when shopping online, according to an EY report. While 61% consumers find AI driven product recommendations extremely beneficial, data breaches are the primary cause for concern among Indian online shoppers. 84% consumers have made purchases based solely on the recommendations or promotions of influencers as per the recent EY Future Consumer Index (FCI), which included responses from 1,000 Indian participants within a worldwide poll.

Nahid Islam, a student from Dhaka University's Sociology Department, has emerged as a pivotal figure in Bangladesh’s recent political upheaval. His leadership of the Students Against Discrimination movement has made him a central player in the protests that led to the resignation of Prime Minister Sheikh Hasina on August 5, 2024. Earlier, Nahid vowed to ensure the country of 170 million never returns to what he called «Fascist rule» and asked fellow students to protect its Hindu minority and their places of worship. We won't betray the blood shed by the martyrs for our cause. We will create a new democratic Bangladesh through our promise of security of life, social justice and a new political landscape." The Rise of Nahid Islam

Yen carry trade and recessionary fears in the US haunting equity investors worldwide, mutual fund investors are worried whether they should book some of the profits or instead gradually increase their SIPs. With the Sensex having fallen 4% from peak, analysts say the market correction provides the investors an opportunity to purchase more units at a lower price. “Investors with a long-term horizon should strongly consider topping up their SIPs during market dips, as this strategy can significantly enhance long-term returns. Market corrections provide an opportunity to purchase more units at a lower price, which can improve overall returns when the market eventually recovers. By regularly investing through SIPs and taking advantage of dips, investors benefit from rupee cost averaging, reducing the impact of market volatility over time,” recommends Sagar Shinde, VP Research, Fisdom. Also Read | 5 equity mutual funds multiplied SIP investments over 2.5 times in 5 years

The issue attracted bids for 53,64,11,850 shares out of the 46,51,59,451 shares offered. The quota reserved for retail individual investors (RIIs) was subscribed 3.10 times, while the non-institutional investor (NII) category was subscribed 1.28 times. The allocation for qualified institutional bidders was 40% booked.

SRF Ltd. traded 2.74 per cent up at Rs 2542.35 at 10:15AM (IST) on Tuesday, even as BSE benchmark Sensex gained 743.74 points to 79503.14. The stock had closed at Rs 2474.5 in the previous session. The stock quoted a 52-week high price of Rs 2697.45 and 52-week low of Rs 2081.25, respectively. As per BSE data, total traded volume on the counter till 10:15AM (IST) stood at 4368 shares with a turnover of Rs 1.09 crore.

₹440 to ₹465 per share. The ₹4,193.73 crore worth FirstCry IPO is a combination of fresh issue of 3.58 crore equity shares aggregating to ₹1,666.00 crore and an offer for sale (OFS) component of 5.44 crore shares totalling ₹2,527.73 crore.

Haryana Cabinet on Monday approved a policy aimed at providing employment and entrepreneurship opportunities to Agniveers after completion of their service in the armed forces. The Haryana Agniveer Policy, 2024, offers benefits in government recruitment, including a 10 per cent horizontal reservation for Agniveers in direct recruitment for positions such as constable, mining guard, forest guard and prison warder. The decision taken in the Cabinet meeting chaired by Chief Minister Nayab Singh Saini came ahead of the assembly polls in Haryana and amid a fresh spotlight on the Agnipath recruitment scheme for short-term induction of personnel in the Army, Navy and Air Force. The policy also offers a five per cent horizontal reservation for Group C posts and a one per cent horizontal reservation for Group B posts in line with Agniveers' skill specializations, Saini said.

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Read this | Where are India’s missing investment advisers? In a hospital, you trust that doctors are professionally qualified and experienced enough to prescribe medications or perform surgeries. Similarly, in legal matters, you know that your lawyer holds at least a Graduate degree with an LLB, the minimum qualification for practicing law. However, when it comes to financial advice, you often overlook the qualifications or certifications of the advisors you rely on.

Mutual Funds (MFs) in companies listed on NSE rose to yet another all-time high of 9.17% QoQ as on June 30, 2024, from 8.93%, powered by strong net inflows of Rs 1.09 lakh crore during the quarter, according to data compiled by primeinfobase. The share of Domestic Institutional Investors (DIIs) also increased to 16.23% from 16.07% during the quarter. Meanwhile, with Foreign Institutional Investors (FIIs) pulling out Rs 7,693 crore from the market during the quarter, their share declined to a 12-year low of 17.38%, down by 34 bps.

SBI, while JPMorgan has a neutral rating on Amara Raja. Citi also has a buy call on UPL.

₹6,145 crore initial share offer of electric two-wheeler business Ola Electric Mobility was tepid, with 35% of the issue subscribed on Friday, August 2, the opening day of the bidding process.Retail investors led the initial public offering (IPO) of the firm, subscribing 1.57 times the amount allotted for them.Bids were received for 16.31 crore shares of the 46.51 crore shares that were offered in the offering, which closes on Tuesday, August 6. Ola Electric IPO subscription status was 35% on the first day of bidding.

We believe there might be both time and price-wise correction in the days to come. As we have previously seen, DIIs are buying at every dip in the market, so the downside may be limited, said Dr Ravi Singh, Senior Vice President, Retail Research at Religare Broking. This analyst spells-out strategy in previous week’s major movers viz. Zomato, Adani Energy Solutions, Adani Wilmar and three more stocks. Here’s what he recommends: Edited excerpts:

parliamentary panels, including the Public Accounts Committee (PAC), have started taking shape, mostly by consensus as against elections witnessed during the previous Lok Sabha. Besides the PAC, which examines government expenditure, the Committee on Public Undertakings, the Committee on Estimates, the Committee on Welfare of Scheduled Castes and Scheduled Tribes, the Joint Committee on Office of Profit and the Committee on Welfare of Other Backward Classes have been constituted without an election. Lok Sabha Speaker Om Birla is expected to nominate the chairpersons of the panels soon, parliamentary officials said. Parliamentary Affairs Minister Kiren Rijiju and his team of floor managers worked to ensure that appointments to the committees take place by consensus.