Security Financial News

Wipro Ltd and HCL Technologies Ltd, which released earnings after market hours on Friday, are expected to open higher on Monday. Sellers of call options took up the huge bets on expectations that information technology (IT) companies’ earnings would disappoint and their share prices would correct. But the results came out better than expected, and the stocks were rewarded by the markets.

NSE) have seen a surge of more than 20% over the past two weeks in off-market transactions, after almost two years of sideways moves. This upswing is linked to heightened demand from wealthy individuals and retail investors amid a restricted supply of shares, with a few large investors reneging on their commitment to sell, said brokers. Additionally, a rally in the shares of the two listed exchange operators — BSE and MCX — and the unlocking of value through the proposed public issue of the National Securities Depository, in which NSE holds a 24% stake, also played a role in fuelling the price, the brokers said. Trading at around Rs 3,100-3,200 a month ago, the stock has currently ascended to a range of Rs 3,800-3,900, as reported by brokers. To be sure, these prices are from the transactions in the unlisted market and are not official figures. At Rs 3,900 per share, India's largest bourse would be valued at Rs 1.93 lakh crore, or 25 times its 12-months earnings. Shares of BSE surged 220% in the past six months, while those of MCX gained around 94%.

Adani Power, Jindal Power and Vedanta Ltd are among a dozen companies that have expressed interest in acquiring IL&FS Tamil Nadu Power Corporation (ITPCL), one of the biggest assets under the IL&FS portfolio with debt of nearly Rs 10,000 crore. IL&FS, as part of its resolution process, had recently invited expressions of interest (EoIs) to acquire a 92% stake in ITPCL held by IL&FS Energy Development Company (80%) and the group holding company (12%). This asset has two coal-based power plants with 1,200 MW capacity in Cuddalore with the potential to add nearly 2,000 MW more, a captive jetty adjacent to the plant, and a captive coal mine in Indonesia. Adani Power and Jindal Power are also competing against each other for Lanco Amarkantak, which has two units of 300 MW operational and two units of 600 MW under construction. Vedanta Ltd had last year acquired a 1,000 MW coal-based thermal power plant for ?1,440 crore under the Insolvency and Bankruptcy Code (IBC). Spokespersons of Adani, Vedanta and Jindal Power did not immediately respond to requests for comment. Other bidders for ITPCL include some non-banking financial companies (NBFCs), alternative investment funds (AIFs) and power companies. An IL&FS spokesperson said assessment of bidder eligibility is in progress.

township in Ayodhya which will be a blend of contemporary and traditional architectural elements, Nitin Gokarn, the state's additional chief secretary for housing and urban development, told ET. The 'New Ayodhya', for which the state government has already secured land, will be India's first vastu-based township, he said. With the Ram Mandir's inauguration set for January 22, developers are lining up to acquire land in the region for commercial and residential development. «New Ayodhya City is going to be a river-centric city with a focus on sustainability,» said Gokarn. «It is going to be in one of the best cities in the county.» The senior official said they recently auctioned a plot for a hotel, where the reserve price was Rs 88,000 per sqm, and the successful bid was for Rs 108,000 sqm. «We are witnessing significant demand.

NEW DELHI : The downfall of Byju’s, once a $22 billion giant and India’s leading edtech startup, has sent ripples across the tech industry, triggering caution among venture capital (VC) and private equity (PE) funds. This has let to a persistently challenging market, Jeff Maggioncalda, chief executive officer of US-based edtech firm Coursera, said in an interview with Mint. “How the Byju’s crash affected the overall edtech industry depends on the stage each company is at, and where in edtech it caters to. Edtech in India and China are not looking good these days.

NEW DELHI : Open market sales have proven to be an effective tool for moderating rice and wheat prices, said union consumer affairs, food and public distribution minister Piyush Goyal, adding that the Food Corporation of India (FCI) should emerge as a trusted partner of farmers and the public. “The FCI’s market interventions or open market sale scheme (OMSS) has proved to be an effective tool in moderating the prices of essential commodities like wheat and rice to benefit consumers.

India vs Afghanistan, 2nd T20: The Indore police detained a young man after he tricked the security and barged into Holkar Cricket Stadium ground to hug India's star batter Virat Kohli. During the incident, Virat Kohli was fielding near the boundary rope when the man jumped to cross the security barricades and enter the ground. The security personnel reacted swiftly and pulled out the intruder from the ground.

Volodymyr Zelenskyy's peace formula on Sunday said a growing number of countries are working to help set the groundwork for Russia to join one day, an admittedly distant goal as the nearly two-year war grinds on and neither side willing to cede ground. The fourth such meeting of national security advisers takes place in the Swiss town of Davos, where Zelenskyy is set to attend the World Economic Forum's annual meeting starting Tuesday. He will endeavor to keep up international focus on Ukraine's defense amid eroding support for Kyiv in the West and swelling distractions like conflict in the Middle East.

2.L&T | Recommendation: Buy | CMP: ₹3,560-3,530 | Target: ₹3,800/4,000 | Stop Loss: ₹3,450 Larsen & Toubro (L&T) is poised for a breakout from an upward consolidation range, consistently finding support at its 20DMA. The momentum indicator RSI has recently turned positive with a crossover, confirming the bullish momentum.

NEW DELHI : Leaders from across the world will congregate in the picturesque Swiss town for the 54th annual meeting of the World Economic Forum (WEF) against a backdrop of rising geopolitical tensions, high inflation and tepid global growth. Mint explains the agenda this year: “Rebuilding Trust" is the theme, to resurrect globalization after global supply chains were disrupted due to the pandemic and the wars in Ukraine and Gaza. With other problems such as climate change, business leaders are expected to brainstorm on long-term solutions and the role of cutting edge technologies such as artificial intelligence (AI).

MUMBAI : Lenders to Go First have set January 31 as the deadline for financial bids to acquire the airline, two banking sources said on Sunday. Go First filed for bankruptcy protection in May but lenders have more recently been considering liquidating the airline after failing to secure new investors.

Rajnath Singh on Sunday said the Narendra Modi government is leaving no stone unturned to ensure their well-being, be it implementing the «one rank, one pension» scheme or providing healthcare and re-employment. Indian soldiers rise above family, caste and creed in the service of the nation as they know if the country is secure, everything is safe, he said, adding their integrity and professionalism is respected and recognised not just by the whole country but by the entire world. Addressing an Armed Forces Veterans' Day event at the Air Force Station in Kanpur in Uttar Pradesh, Singh said it is a collective responsibility of the people to treat soldiers and their dependents as their own family members and ensure that they stand with them always.

Go First have set Jan. 31 as the deadline for financial bids to acquire the airline, two banking sources said on Sunday. Go First filed for bankruptcy protection in May but lenders have more recently been considering liquidating the airline after failing to secure new investors. «Banks have decided to give the resolution process another go and allow those suitors who have shown prior interest a chance to submit a concrete bid,» said a banker with a state-run bank that has exposure to Go First. Indian carrier SpiceJet said last month that it was considering an offer for Go First after conducting due diligence.

cold weather and security concerns for the postponement of the elections, Geo News reported. Tabled by independent Senator Hilal-ur-Rehman, the resolution said that extreme cold weather and snowfall would create difficulties for citizens to cast votes in the Khyber Pakhtunkhwa province and create challenges for candidates trying to campaign.

Davos on Sunday to discuss a peace formula for Ukraine, with India and many other nations pushing for the restoration of peace in the war-hit country. A representative of the Swiss Foreign Ministry, which co-hosted the meeting along with Ukraine, said, «By organising the meeting, Switzerland continues to support Ukraine in achieving this goal». This was the fourth NSA meeting on the peace formula proposed by Ukrainian President Volodymyr Zelenskyy in 2022, which follows ten principles aimed at ensuring a just and lasting peace in Ukraine.

Gangasagar and taken a holy dip at the confluence of the Ganga River and the Bay of Bengal so far this year, West Bengal minister Aroop Biswas said. Heavy security arrangements have been made at the fairground, situated on Sagar Island, where many more are expected to arrive on the occasion of Makar Sankranti on Monday. Apart from the state police, NDRF, SDRF and Coast Guard personnel have been deployed with necessary gear for responding to any eventuality.

SANTA CLARA, Calif. — In a move to expand its payment solutions, Shift4 (NYSE: FOUR), a prominent integrated payments and commerce technology provider, has selected MagicCube's i-Accept as its preferred software-based point of sale (softPOS) system. This partnership, announced today, enables Shift4's merchant network to process secure contactless payments directly on Android devices.

Davos 2024: The 54th annual meeting of the World Economic Forum (WEF) is all set to begin from tomorrow, January 15 and will continue till January 19, 2024 at the local Swiss Alpine School in the center of Davos. The annual meeting will welcome over 100 governments, major international organizations, 1,000 forum’s partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

After 100 days, Israel’s war with Hamas is turning into a protracted conflict with no clear end, threatening to spread across the Middle East, disrupt global trade and bog down the U.S. One of the biggest geopolitical events this century, the war has swung from a Hamas attack on Oct. 7 that Israel says killed 1,200 people to the Israeli military’s ferocious retaliation against the militant group in Gaza.

equity indices hit all-time highs on Friday, and logged weekly gains, led by gains in IT stocks after market leaders TCS and Infosys posted quarterly reports that alleviated concerns about weak demand. On the day, the NSE Nifty 50 added 1.14% to close at a record 21,894 points, while the S&P BSE Sensex climbed 1.18% to 72,568. They gained about 0.8% for the week. Meanwhile, the IT index jumped 5.14%, logging its best session since Oct. 8, 2020, to hit a 21-month high.

By Jonathan Allen