Track Financial News

By Simon Jessop, Maha El Dahan and Hadeel Al Sayegh

Axis Mutual Fund announced the launch of the Axis India Manufacturing Fund, an open-ended equity scheme representing the Indian manufacturing theme. The scheme opened for public subscription on December 01, 2023, and will close on December 15, 2023. The scheme re-opens for continuous sale and repurchase within five business days from the date of allotment.

Animal’ is out for blood! The Ranbir Kapoor-starrer has hit the bull’s eye at the box-office. The gory action drama has crossed Rs 212.67 crore within a span of just three days, as per a report by the Indian box-office tracking portal Sacnilk.com. In trade analyst Taran Adarsh’s words, the movie has demolished box-office records like a tsunami.

Alaska Air Group has agreed to buy Hawaiian Airlines in a $1.9 billion deal including debt

Stocks gained ground on Wall Street as the market comes off its best month in more than a year

Asian shares are mixed as investors await a slew of U.S. economic data set for release later in the week

The head of the union that represents track maintenance workers says Union Pacific is jeopardizing safety by delaying nearly 1,200 planned projects until next year and laying off more than 1,000 workers

Graphisads IPO: The initial public offering (IPO) of Graphisads Industries Ltd opened for subscribers on 30th November 2023 and it will remain open for bidding till 5th December 2023. So, the NSE SME issue will close on tomorrow. The company has fixed Graphisads IPO price band at ₹111 per equity share and Graphisads IPO lot size has been fixed at 1200 company shares.

Axis US Treasury Dynamic Bond ETF FoF, DSP Nifty Smallcap250 Quality 50 Index Fund, Motilal Oswal Small Cap Fund will open for subscription on December 5. Samco Dynamic Asset Allocation Fund will open for subscription later this week.

Zoram People's Movement (ZPM), a coalition of six parties, is headed towards forming the government in Mizoram. As of 12 noon, Election Commission trends indicate that ZPM is leading in 26 out of the 40 seats, securing 7 wins during the ongoing vote counting. The Election Commission of India said that the current ruling party, the Mizo National Front (MNF), is trailing with 11 seats. Kolasib- Lal Famikima, Tawi-Prof.

China business and expand aggressively in the face of a consumer slowdown and geopolitical tensions seems risky — but the potential pay-off is great, analysts say. Last month, the US-based burger maker cut a deal to repurchase the 28% stake in its China business Carlyle Group took in 2017, giving it a 48% share in $6 billion worth of operations that include Hong Kong and Macau. The move contrasts sharply with the prevailing trend of multinational corporations reeling back investments in China or even exiting altogether because of geopolitical and economic challenges. One advantage for McDonald's: its majority partner in the China business, CITIC, provides top-level political cover, said Jason Yu, greater China managing director of market research firm Kantar Worldpanel. «Having a very powerful Chinese state-owned conglomerate as a partner means they are not going to be at the forefront of the geopolitical situation; that is quite important,» Yu said. McDonald's China, Carlyle Group and CITIC declined to comment. Other consumer-facing U.S. firms, including Starbucks, Apple, Coach owner Tapestry and sportswear giant Nike, have remained similarly dedicated to the China market. Starbucks and Nike, which face increased competition from lower-priced domestic competitors, show the need to stay agile in order to protect and grow market share, analysts say. The coffee giant is sticking with expansion plans and launched a smaller cup size; Nike, by contrast, has offered localised, higher-end sneakers such as its «Year of the Rabbit» Dunk Lows. McDonald's has used funds from the Carlyle investment to double its restaurant count since 2017 to 5,500, and the country has become its second-largest market.

Bharatiya Janata Party (BJP) secured victory in three major states on Sunday, boosting the ruling party’s prospects of prevailing in next summer’s general election. Experts believe the market will see a healthy rally in the near term and most sectors will participate in it because of optimism over political stability and India's healthy macro outlook. On the technical front, Axis Securities said if Nifty crosses and sustains above 20,400 level, it would witness buying, leading the index towards 20,500-20,600 levels.

Track assembly election results here S&P Global Rating has raised India's GDP growth forecast for the FY24 from 6.0% to 6.4%, instilling optimism across the broader market. The heightened confidence suggests that the Nifty50 could comfortably breach the psychological barrier of 20,000 and retain these gains for long-term support. The bold performance of the global markets and IPO listings is adding glitter to mid & small caps.

«The Drift» author provides insight on the economy and oil prices on «Kudlow.»

Investing.com-- Bitcoin rose past $40,000 a dollar for the first time in 2023 on Monday, aided by growing optimism over an early interest rate cut by the Federal Reserve, while focus also remained on the potential approval of a spot exchange-traded fund for the token. 

Puducherry. Cyclone 'Michaung' is expected to hit the west-central Bay of Bengal off south Andhra Pradesh and adjoining north Tamil Nadu coasts by December 4 forenoon, and the National Disaster Response Force (NDRF) has deployed 21 teams for rescue and relief operations, the National Crisis Management Committee (NCMC) informed on Sunday.

global market front, Asian markets traded mixed while the US stocks ended higher on dovish commentary from Fed officials. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — December 4 The Indian equity market witnessed healthy gains on Friday, with the benchmark Nifty 50 hitting its fresh record high in the intraday session after India's Q2 GDP numbers exceeded expectations.

By Brigid Riley

GDP emission intensity by 33 per cent between 2005 and 2019, achieving the target 11 years in advance, according to a government report. The report also said India's GDP grew at a cumulative annual growth rate of 7 per cent but its emissions rose by only 4 per cent per year during this period, suggesting that the country has been successful in decoupling its economic growth from planet-warming greenhouse gas emissions.

general elections, two people with direct knowledge of the matter said. However, the Centre could take a relook at some of these schemes, especially the ones started during the pandemic, for further rationalization in the next budget, these people added.

Election Results Day, especially if it falls on a Sunday, try this experiment: don't follow the counting and non-stop banter that goes in the name of punditry on TV and online. If you're an advertiser, then let someone in your team give you a 4-hourly WhatsApp message (phone calls are too intrusive) about how tight or loose the race is going.