Show Financial News

A new survey suggests a little more than half of potential first-time homebuyers are interested in using a first home savings account, even though they don’t know much about it.

A suspended Surrey RCMP officer accused of using his position of authority to engage in intimate relationships with women — both on and off-duty — likely won’t face traditional jail time, a sentencing hearing in B.C. provincial court has heard.

SRF Ltd. traded 0.28 per cent down in Friday's trade at 11:42AM (IST). Around 13,881 shares changed hands on the counter.

But was it liquidity alone that drove this rally in stocks or were there fundamental reasons as well backing them? One possible way to find this out would be to see the earnings performance of the companies. Data crunching done by ETMarkets showed that 23 companies reported atleast a double-digit year-on-year (YoY) growth in both revenue and profits for three consecutive quarters. And guess what? About seven of them have given multibagger returns year-to-date, and five of them have done that only in FY24. The seven ninjas of Dalal Street are Kaynes Technology, Neuland Laboratories, Wonderla Holidays, Elecon Engineering Co, Safari Industries, Sonata Software, Sanghvi Movers, and Power Mech Projects.

cement sector even after Adani Group’s large acquisition of Holcim's 67.5 million tonnes (MT) cement assets. In the last week of November, Ultratech Cement, India's largest cement manufacturer, acquired 10.8 MT capacity of Kesoram Industries. It was the fourth major cement deal over the past one year.

Nifty 50, Sensex at record highs; how should you play large, mid, smallcaps? Nuvama underscored that midcaps are also expensive but they should still do relatively better than smallcaps. "Midcaps are also expensive at 26 times P/E (versus 20 times 10-year average), but the sizes and profiles of midcap businesses in India have improved significantly in the past five–seven years. Midcap premium of 28 per cent to Nifty valuation (versus 7-8 per cent average) is also not supportive.

Siemens Ltd. traded 0.1 per cent up at Rs 3838.05 at 10:56AM (IST) on Friday, even as BSE benchmark Sensex gained 279.37 points to 69801.06. The scrip had closed at Rs 3834.15 in the previous session.

Tata Power Company Ltd. traded 0.93 per cent up in Friday's trade at 10:45AM (IST). Around 2,117,761 shares changed hands on the counter.

Bollywood films such as Caravan, Haathi Mere Saathi, and Mera Naam Joker, passed away today on December 8 after battling stomach cancer, his son Hasnain Sayyed confirmed to PTI. Junior Mehmood, whose real name was Naeem Sayyed, was 68. He is survived by his wife and two sons.

EV battery space over the past few months. More so in recent days after the Indian government extended the PLI benefits for additional segments of batteries. The interest in the EV battery segment had also picked up pace after India discovered lithium reserves.

MPC) unanimously opted to maintain the repo rate at 6.5 per cent for the fifth consecutive time, RBI Governor Shaktikanta Das said on Friday. The decision, following a three-day bi-monthly meeting, underscores the committee's commitment to its current policy stance. Governor Das highlighted the central bank's continued focus on the withdrawal of accommodation stance.

SK Ghosh, Group Chief Economic Advisor, SBI, says “if you look into the data of the US consumer spending and other data, labour markets are saying house prices are now declining in the US. Taking all these factors into account, I believe that possibly the slowdown in the global economy, specifically the US, at a rate which is larger than anticipated by the market would be the possible source of outside risk for the Indian economy.” What is your view on what is happening to the yield rates globally? 10-year yields are coming down from 5% plus to 4.2-4.3% thereabouts. What is the normalised level world should make do with? Do you think 4.2%, 4.3% is the new normal or is it headed lower? As we have said in our report recently, the outlook on the global economy so far is that the US could be spared a major recession and the growth has been very strong. But beyond these headline growth numbers, the US’ real economy numbers do not look so inspiring at this point of time. The payroll numbers have been revised downwards by eight times in nine months. There have also been some recession indicators showing that the US could be possibly on the verge of a significant slowdown. The only thing which is keeping the US economy headline growth strong is currently the excess savings of $1 trillion the US consumers have built up over the years.

interest rate has been pushed further, as the Reserve Bank of India (RBI) did not cut the repo rate. This is the fifth consecutive RBI Monetary Policy Committee meeting to keep the repo rate unchanged. This pause in repo rate increase started after a significant hike of 2.5% within a short span of 10 months during May 2022 to February 2023. Home loan borrowers have been going through one of the most testing times as they have to pay almost 20% higher EMI than what they were paying just two years ago. When can home loan borrowers expect the interest rate to fall and how can they make the best of any future rate cut?

While banks had raised their fixed deposit (FD) rates, the increases have not been close to the repo rate’s 2.5% rise. The RBI had raised its concerns about a shortfall in transmission in the interest rates. Banks have been facing tighter liquidity conditions and higher credit growth, which have also been pushing the rates up in the short term.

Many close observers of India’s economy have been concerned that inequality could slow down its rise if a large proportion of the population gets left behind. Could we already be running into speed-breakers in some sectors? Take internet penetration, which till some years ago was seen to be fast bridging our digital divide. No longer.

Japan's economy fell faster than initially estimated in the third quarter, revised data showed on Friday, complicating the central bank's efforts to phase out its accommodative monetary policy. Consumer and business spending both shrank, driving down third-quarter gross domestic product (GDP). Separate data showed real wages and household spending kept falling in October, as prolonged inflation discouraged shoppers.

Narendra Modi. He stated that a clear decision on CM candidates will be revealed by December 10, but refrained from disclosing whether the party will select leaders from the newly elected MLAs or bring in outsiders.

Israel-Hamas War Day 63: Joe Biden holds talks with PM Netanyahu It was a solemn moment for all of Israel and not only for families of the 138 Israelis still held hostage. For some Israelis, the feeling is of a country shrinking. Some 200,000 Israelis have been uprooted from both the south of Israel where Hamas infiltrated and the north of Israel where Hezbollah attacked from Lebanon.

ITC Ltd has overtaken rivals Adani Wilmar, Britannia, Parle Products and others to become the country's largest fast-moving consumer goods (FMCG) manufacturer in the foods space by domestic sales in the nine months to September, as per the latest data by market tracker NielsenIQ shared by three industry executives. ITC clocked food FMCG sales of ₹17,100 crore in the period, while Britannia was at ₹16,700 crore, Adani Wilmar at ₹15,900 crore, Parle Products at ₹14,800 crore, Mondelez at ₹13,800 crore and Hindustan Unilever Ltd (HUL) at ₹12,200 crore, NielsenIQ data showed. ITC has jumped from the fourth spot in the same period last year, when Adani Wilmar was leading the market. Adani Wilmar's sales in the January-September period last year stood at ₹16,100 crore, while Britannia was at ₹14,900 crore, Parle at ₹14,800 crore, ITC at ₹13,900 crore and Mondelez at ₹12,400 crore, as per NielsenIQ data. The industry executives said one of the key reasons ITC managed to overtake Adani Wilmar was due to the steep fall in edible oil prices. That has impacted the revenue of the country's largest edible oil company in the nine-month period.

unsecured loans, industry executives said. This follows the central bank’s strictures in mid-November requiring financial institutions to increase risk weights, or capital outlay, for unsecured consumer loans by 25%.

Life Insurance Corp (LIC) is stepping up activity in a space where banks are wary of a hawkeyed regulator and higher capital needs, with the country's biggest institutional investor in tradable securities recently buying debt issued by highly rated non-banking financial companies and corporates, including Reliance Industries. LIC subscribed to a lion's share of Reliance's ₹20,000-crore bond sale last month, while also taking up a major portion of a bond sale earlier this week by Tata Capital Financial Services (TCFSL), a subsidiary of Tata Capital, sources aware of the developments told ET. LIC had bought ₹13,000 crore of RIL's bonds, the sources said. The insurance sector giant is also said to have deployed funds in a September bond sale by another highly-rated NBFC — L&T Finance, the sources said. An email sent to LIC did not receive a response by the time of publication.