Trade Financial News

In its trading update for the last quarter of 2024, the wealth manager said the move would bolster its corporate profile and «extend the opportunity to own its ordinary shares to a broader group of investors». It has been listed on AIM since 2005. Brooks Macdonald suffers £130m outflow as Budget uncertainty hits investor confidence As part of the plans, Brooks will not raise any additional funds nor offer any new shares in relation to the admission to the main market or the publication of the prospectus. If greenlit, the move to the main market will happen no earlier than 4 Marc...

Amul, well-known for its satirical cartoons, added a humorous twist to the ongoing debate surrounding a 90-hour workweek. On Tuesday, the brand shared a witty doodle addressing the controversy sparked by Larsen & Toubro (L&T) chairman SN Subrahmanyan's recent comments.

Axis Bank shares fell over 3% to a low 1,014.65 on the NSE on Wednesday amid a block deal where 33.2 lakh shares are reported to have changed hands. ETNow reported about the block deal. Details of the buyers and sellers were not known immediately.

Macquarie has initiated coverage on two key players in the quick service restaurant (QSR) sector, Devyani International and Sapphire Foods, with «Outperform» ratings expressing a positive outlook on the sector in India. The brokerage firm has set a target price of Rs 230 for Devyani International, a Yum! Brands franchisee in India, and Rs 390 for Sapphire Foods.

trade deficit narrows to $21.94 bn in December from November's revised $32.84 billion. December's goods exports were down 0.99% on year at $38.01 billion.

Crypto prices are showing signs of recovery from the past two trading sessions, ahead of U.S. consumer price data due on Wednesday that could potentially shift the monetary policy outlook. Bitcoin, which had fallen to $89K, a level it hadn’t seen in 24 days, has rebounded strongly, surging to the $97,000 level. As of 11:00 am IST, Bitcoin was trading at $96,932, up 2.15%, after hitting an intraday high of $97,650. Ethereum surged 1.2% to $3,222. Meanwhile, the global crypto market cap saw a 2.5% rise, reaching $3.37 trillion.

Shriram Finance Ltd. 2.69 per cent to Rs 530.15 in Wednesday's trade as of 01:54PM (IST). The stock hit a high price of Rs 548.95 and low of Rs 529.45 during the session. The return on equity (ROE) for the stock stood at 15.04 per cent. Traded volume on the counter stood at 01:54PM shares and turnover at Rs 2.91 crore around that time. The stock of Shriram Finance Ltd. quoted a 52-week high price of Rs 730.43 and 52-week low prices of Rs 438.83, respectively.

Lupin Ltd. 1.44 per cent to Rs 2124.05 at 01:49PM hours (IST) on Wednesday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 11,639 shares with a turnover of Rs 2.47 crore till 01:49PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 36.84, while the price-to-book value ratio stood at 5.16.

«The large private sector banks is one such pack, while there are of course near term headwinds, credit growth has slowed down, there are pockets of asset quality stress, and margins have been under pressure, we believe that the valuations for that largecap banking space specifically the private sector banks is possibly more than capturing in these kind of headwinds,» says Shibani Sircar Kurian, Kotak Mahindra AMC. The correction that we have been seeing recently, the kind of fall that we have seen across indices, be it the largecap, the midcap, smallcap, do you believe that the valuations have corrected enough to make these stocks attractive now? Do you believe the kind of correction we have seen in valuations is significant enough for us to now confidently say that only good days are ahead? Shibani Sircar Kurian: So, when you look at the correction that we have seen recently over the last couple of months, you must put it in context of what has happened in the last four years, especially since post COVID period. Our markets have had a significant uptrend and it has been a one-way move in the market and therefore, in that context, we must look at the last two months of correction and volatility as something that is possible, given that equity markets have seen such a one-way up move.

Global management consulting firm Kearney has appointed Siddharth Jain as the new managing partner and country head for its India business. Taking over from Kaushika Madhavan from Jan 1, 2025, Siddharth will oversee business strategy and operations of Kearney India.

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Benchmark NSE Nifty index rose 61.55 points to 23237.6 amid buying in frontline bluechip stocks.

REC Ltd. 1.9 per cent to Rs 485.60 at 10:25AM (IST) in Wednesday's trade. The stock hit a high of Rs 486.50 and low of Rs 475.25 so far during the session. The stock had closed at Rs 476.50 in the previous session. The counter had a total traded volume of 10:25AM shares so far with a turnover of Rs 5.10 crore on BSE. The stock traded at a price-to-earnings multiple of 8.55 and a price-to-book ratio of 1.73.

Bajaj Holdings & Investment Ltd. traded 1.95 per cent in Wednesday's trade at 10:20AM (IST). Around 372 shares changed hands on the counter. The stock opened at Rs 11090.00 and touched an intraday high and low of Rs 11090.00 and Rs 10725.15, respectively, in the session so far. Shares of the company of Bajaj Holdings & Investment Ltd. quoted a 52-week high of Rs 13221.50 and a 52-week low of Rs 7667.15.

Aditya Birla Fashion and Retail Limited (ABFRL) on Wednesday approved issuance of shares worth about Rs 2,379 crore on a preferential issue basis to promoters and qualified institutional buyers (QIBs). After a board meeting to consider the fund-raising proposal, the Aditya Birla Group company said it had approved the issuance of up to 4,08,72,580 equity shares at an issue price of Rs 317.45 per share, for an aggregate consideration of up to Rs 1,297.5 crore to the promoter group.

Nirmala Sitharaman is set to present the Union Budget for the fiscal year 2025-2026 in February 2025, marking her eighth budget under the Modi government.

Canara Bank(up 2.23 per cent), Kotak Mahindra Bank Ltd.(up 1.74 per cent), State Bank of India(up 1.19 per cent), Federal Bank Ltd.(up 0.8 per cent) and Punjab National Bank(up 0.74 per cent) were among the top gainers.

Indian Hotels Company Ltd. traded 2.41 per cent up at Rs 800.80 at around 10:15AM (IST) on Wednesday. The stock had closed at Rs 781.90 in the previous session. Equity benchmark Sensex traded 239.07 points at 76738.7 around the same time.