Trade Financial News

By Scott Murdoch

Genpharmasec rights issue 2024: Shares of Genpharmasec Ltd (formerly known as Generic Pharmasec Ltd) will be in focus when the stock market opens on Tuesday (January 09). The Board of Directors of Genpharmasec Ltd has declared a Rights Issue of equity shares. The record date for the same has been fixed on January 09.

F&O ban list: A total of thirteen stocks have been put under the ban for trade on Tuesday, January 09, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as it crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.

stock benchmarks dropped close to 1% on Monday as investors cut their bets ahead of the start of the third-quarter corporate results season this week. The market was also cautious in the run-up to the December US consumer inflation data scheduled on January 11, after the country's jobs data for the month turned out to be stronger than expected. These economic readings could be some of the key factors determining the US Federal Reserve's upcoming monetary policy actions. BSE's Sensex dropped 670.93 points or 0.93% to close at 71,355.22.

Quiver Quantitative — Large-Cap Insider Activity in Q4:

Investing.com — US stock futures experienced a slight drop on Monday night after strong performances from major tech companies boosted indices during the regular session.

Reliance Jio and Bharti Airtel are set to report sequential revenue growth in their mobile business in India in the fiscal third quarter, fuelled by strong broadband user growth and a surge in data consumption driven by the recent Cricket World Cup, analysts said. Vodafone Idea's mobile revenue, though, is likely to remain stagnant sequentially in the December quarter, stung by heavy customer losses. Analysts expect Airtel to turn in a stronger average revenue per user (ARPU) than Jio in the three months ended December 31 as the latter's growth on this score is likely to be restricted by wide adoption of unlimited data packs by 5G users. Jio, though, is expected to add more customers overall than Airtel, on the back of strong demand for its affordable internet-enabled feature phone, Jio Bharat. BoFA Securities said its internal checks suggest that the capacity build-up of Jio Bharat phones since the device's launch last July is already at 10 million in trade channels, with 50-60% of these phones activated so far.

Jay Clayton, former chair of the United States Securities and Exchange Commission (SEC), believes it’s only a matter of time before a spot Bitcoin ETF is approved.

The United Arab Emirates-India relationship is without question one of the region’s most dynamic partnerships. It is one that stands as a global exemplar for the positive benefits that can be achieved through open, consistent and constructive dialogue; visionary leadership; and mutual respect.

—Name withheld on request There is no better time to start investing. It is very difficult to time the markets and although the markets are due for a correction, it would not be wise to wait further. Also, when it comes to SIPs, there is not much merit in timing the markets.

NEW DELHI : Mutual funds may get to invest in companies traded in Gujarat’s Gift City exchanges beyond the normal cap that applies for their overseas investments. The move comes at a time the government is opening up the special economic zone for direct listing of Indian firms. A 16-member expert panel appointed by the International Financial Services Centres Authority (IFSCA) last week recommended a special carve-out for mutual funds wanting to invest in Gift City.

A trade group representing TikTok, Snapchat, Meta and other major tech companies has sued Ohio over a pending law that requires children to get parental consent to use social media apps

CES 2024 kicks off in Las Vegas this week

Most of Wall Street is rising Monday as yields ease in the bond market

CES, the Consumer Technology Association’s annual show of all-things tech, is kicking off in Las Vegas this week

The electric vehicle unit of troubled Chinese property developer China Evergrande says its vice chairman has been detained by police on “suspicion of illegal crimes.”

One of the most prominent information technology service providers, Infosys, was dealt a huge blow when a multinational corporation made the decision to cancel a Memorandum of Understanding (MoU) worth $1.5 billion that was centered on artificial intelligence solutions. This arrangement, which was first negotiated as a 15-year agreement in September 2023, has been terminated, which represents a significant change in the way that Infosys' company is headed. A shift in the technology budgets and demand environment in the information technology services industry was indicated by the company's disclosure of this event in an exchange filing on December 23.

Meme coins on the Solana blockchain have continued their rapid drop after a surge in December.

shares fell 8.6% in early U.S. trading on Monday and were set to erase nearly $13 billion in market value following the temporary grounding of some of its best-selling 737 MAX jets by the U.S.

Trade Promotion Council of India (TPCI) with the support of the Department of Commerce. Goyal said that the food exports from India holds an immense potential and this this fiscal, the country's agri exports will be more than last year's level of USD 53 billion despite restrictions imposed on shipments of certain key commodities.

Jyoti CNC Automation has raised Rs 448 crore from anchor investors ahead of the IPO opening on Tuesday. The company has allocated about 1.35 crore shares to various marquee investors at Rs 331 apiece, which is the upper price band for the offer. In the anchor round, leading funds including Goldman Sachs, Nomura HSBC, Edelweiss, Axis MF, Kota MF, Nippon MF, Canara Robeco MF, Invesco India among others participated. Jyoti CNC Automation is one of the world’s leading manufacturers of metal cutting computer numerical control (CNC) machines with the third largest market share in India accounting for approximately 10% market share in FY23. With an expertise built over 2 decades and R&D capabilities, it delivers customised solutions to industries including aerospace and defense, auto and auto components, general engineering, EMS, dies and moulds, and others. Also Read: VC fund Stellaris Ventures sells part stake in Mamaearth for Rs 140 crore via bulk deal The company has a robust order book of Rs 3,300 crore, that will be executed over the span of next few years. Its other strengths include diversified product portfolio and customer base, strong global outreach and the ability to use technology to good effect to capture growing market opportunities. The CNC machine market is likely to clock a 10% CAGR over CY23-27. This growth is expected to be propelled by the growth in the manufacturing industries due to factors such as industrial automation, and integration of computer-aided manufacturing. The company posted a revenue and EBITDA CAGR of 27% and 75%, respectively over FY21-23. From a net loss of Rs 70 crore in FY21, it posted a profit of Rs 15 crore in FY23.