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The NSE Nifty index traded 93.41 points up at 24565.5, while BSE Sensex was up 284.22 points at 80504.94 as of 11:19AM(IST)on October 23.

Indian Hotels Company Ltd. gained 0.51 per cent to Rs 659.35 in Wednesday's trade as of 11:16AM (IST). The stock hit a high price of Rs 662.7 and low of Rs 648.95 during the session. The return on equity (ROE) for the stock stood at 13.31 per cent. Traded volume on the counter stood at 11:16AM shares and turnover at Rs 2.16 crore around that time. The stock of Indian Hotels Company Ltd. quoted a 52-week high price of Rs 720.6 and 52-week low prices of Rs 371.45, respectively.

Subscribe to enjoy similar stories. Foreign Institutional Investors (FIIs) have carved out a niche in India’s equity markets, often identifying opportunities that local investors might miss. These global heavyweights, armed with experience navigating both emerging and developed markets, offer a unique perspective—melding international business acumen with an in-depth understanding of India’s growth potential.

Subscribe to enjoy similar stories. Chinese residents have been illicitly moving billions of dollars out of the country under authorities’ noses as a cratering property market and economic uncertainties push people to find safer places to park their wealth overseas. Moving fortunes out of China is hard: The country imposes strict capital controls that cap individual purchases of foreign exchange at $50,000 a year.

FIIs) ended up increasing stakes in 8 out of top 10 tech companies in India apparently to play the interest rate cut cycle in the US. September quarter shareholding pattern analysis shows that FII ownership in Infosys rose 54 basis points to 33.28%, TCS 31 bps to 12.66%, Tech Mahindra 40 bps to 23.67%, HCL Tech 22 bps to 18.67% and by 15 bps to 7.27% in case of Wipro.

stocks whose retail holdings exceed institutional stake in them, have turned multibaggers in the last one year period. In this, nine are scrips of state-run companies. An ETMarkets analysis finds over 600 stocks with market capitalisation of Rs 500 crore or more where retail holdings (shares worth up to Rs 2 lakh) are above institutional holdings i.e. stakes held by foreign institutional investors (FIIs), domestic institutional investors (DIIs) and mutual funds.

sugar supplies are seen shrinking to the lowest level in six years in early 2025 as drought hampers production in top exporter Brazil, according to commodities trader Czarnikow Group Ltd. Extreme dryness has eroded sugar-cane crop conditions, limiting mills’ ability to produce sugar in the latter months of the current season and signaling a delayed start to next year’s harvest, Pedro Mizutani, Czarnikow head of raw sugar trading, said during a conference in Sao Paulo. Concerns about production constraints in Brazil — also caused by the spread of plant disease — have kept prices for the sweetener above the historical average for the past several years, underscoring the world’s dependence on the South American nation’s supplies. The country is expected to account for almost 75% of all raw sugar traded globally this year, according to consultancy firm Datagro.

global trade, increased its full-year guidance for a fourth time in less than six months, citing stronger demand and higher freight rates caused by supply chain disruptions from attacks in the Red Sea. Maersk now sees underlying earnings before interest, tax, depreciation and amortisation of $11 billion to $11.5 billion this year, topping both its prior forecast range and the average $10.1 billion estimate of analysts surveyed by Bloomberg. Maersk had already raised its 2024 profit forecast in May, June and August, as the Red Sea conflict was having a larger than previously expected impact on the world’s supply lines. The Houthi attacks have since late last year forced container vessels to sail south of Africa, absorbing some of the overcapacity in the container industry, which in turn has helped boost container rates.

corporate bond funds in October 2024. These schemes invest at least 80% of their corpus in the papers of the highest-rated companies. This makes them relatively safer than other debt schemes such as credit risk funds. They are also safer than gilt funds and long term debt funds that are highly sensitive to interest rate changes in the economy. You should pay attention to these two factors: safety and interest rates. Safety became a crucial factor for debt fund investors after a series of defaults and downgrades in the debt space almost three years ago. The shutting down of six schemes by Franklin Templeton Mutual Fund shook conservative investors in debt schemes. Though the environment is different now, you should still proceed cautiously.

Paytm, while JPMorgan has an overweight rating on Bajaj Finance. Meanwhile, Nuvama has a buy rating, and Macquarie has an underperform rating on Zomato, respectively.

Nifty Index opened flattish on Tuesday but bears were in full control right from the beginning of the session. The selling intensity increased in the second half and the index broke 24,450 zones. It formed a bearish candle on a daily frame and closed below 24,500 zones with losses of around 310 points.

Indus Towers are likely to be in focus on Wednesday after the Competition Commission of India (CCI) approved Bharti Airtel's plan to increase its stake in Indus Towers, following the telecom infrastructure company's share buyback. «The Commission approves an increase in the percentage shareholding of Bharti Airtel Ltd (Bharti Airtel) in Indus Towers Ltd (Indus Towers) to 50.005% pursuant to buyback of shares by Indus Towers,» CCI said in a release.

Goldman Sachs Group Inc. tactically lowered Indian equities to neutral from overweight as slowing economic growth dents the outlook for corporate earnings. “While we believe the structural positive case for India remains intact, economic growth is cyclically slowing down across many pockets,” strategists including Sunil Koul wrote in a note on Tuesday. Worsening earnings sentiment, an accelerating pace of earnings-per-share cuts and a weak start to the September-quarter results season indicate an impact on profits, they added.

Godavari Biorefineries will open for subscription on Wednesday. The issue will be available for bidding till October 25. The IPO includes a fresh issue worth Rs 325 crore and an offer-for-sale (OFS) of up to 6.53 million shares by existing shareholders and promoters. Private equity firm Mandala Capital AG will exit the company, selling its entire stake of 49,26,983 shares in the OFS.

Paytm (One 97 Communications) shares will be in focus on Wednesday after the National Payments Corporation of India (NPCI) granted the company approval to onboard new UPI users, subject to adherence to all procedural guidelines and circulars. «We would like to inform you that vide letter dated October 22, 2024, the National Payments Corporation of India (NPCI) has granted approval to the company to onboard new UPI users, with adherence to all NPCI procedural guidelines and circulars,» the company stated in a stock exchange filing.

Karur Vysya Bank has given a good set of numbers. City Union Bank yesterday has given a good set of numbers and a few of the PSU banks have given a good set of numbers as well," says Mayuresh Joshi, Head Equity, Marketsmith India. Broader markets is where the pain is pretty sharp but one of the stock that is holding out in this sort of a market is ICICI Bank. While one end of the market, you have ICICI Bank that is holding onto the positive territory. You have IndusInd Bank that has hit a 52-week low on an intraday basis today. What is your take when you talk about the banking space as a whole then? Mayuresh Joshi: So, two things, one, the numbers for most banks, specifically the larger ones have been pretty good. Axis Bank gave a good set of numbers. HDFC Bank, good set of numbers and the commentary was equally encouraging. Kotak had their one misses in the numbers itself, so quite a few one-offs in the numbers. Expectations that as rate cut cycle starts in India as well, some element of positivity expected to come through.

Tokyo Metro jumped 36% in their Tokyo market debut on Wednesday after an initial public offering proved popular among investors. Tokyo Metro, one of the capital's two major subway operators, opened at 1,430 yen ($9.44) after shares were initially untraded with a glut of buy orders.

inflation falling below the central bank's 2% target, signalling a change in their focus after years of excessive price growth. Inflation in the euro zone dipped to 1.7% last month and could be back at 2% on a durable basis in the first months of 2025, ending three years of excessive price growth, when inflation even briefly rose into double digits.

food delivery company Zomato will be in focus after the company's profit in the second quarter missed the Street estimates. The bottomline zoomed nearly 389% YoY in the reporting period to Rs 176 crore from a year ago, but an ET Now Poll was expecting PAT to be around Rs 260 crore.

Sampath Reddy, Founder & CIO, Azurean Investment Managers, says overall, the steep growth in the earnings that we had seen in the last several quarters, is getting decelerated. As a result, overall the valuation premium that we used to enjoy vis-a-vis most other global markets is getting slightly compressed. So, we could see a subdued trend in the market for some more time, more so in the midcap and smallcap segments. I am guessing the portfolio is not looking a very pretty picture right now and if possible, perhaps one should stay away from looking at the portfolios today with the kind of weakness that we are seeing. But do you expect this to be only a transient issue or are the next couple of weeks and months going to be full of turmoil and volatility for individual investors? Sampath Reddy: The way the markets have moved up over the last few years, overall valuations are on the higher side, especially more so in the midcap and smallcap segment where the valuations are much more steep. Because of which, there could be a subduedness in the market overall for the very near term and even if we were to look at the quarterly numbers of the Q2, most other places, the numbers are coming slightly below expectations.

Indian nationals in the Russian Army during his bilateral meeting on Tuesday with Russian President Vladimir Putin on the sidelines of the 16th BRICS Summit in Kazan. Addressing a media briefing, Foreign Secretary Vikram Misri said the two leaders also shared perspectives on the ongoing conflict in Ukraine. Prime Minister reiterated that dialogue and diplomacy was the way forward to achieve resolution of the conflict. He briefed President Putin about his engagements with the Ukrainian leadership and noted that India stood ready to contribute in bringing peace to the region. «An important issue that came up was the issue of early discharge of the remaining Indian nationals in the Russian army. This figured from both sides in the discussion and with the support of the Russian side, a number of Indian nationals have, in recent months, been able to return to India. We understand that currently the embassy is pursuing around 20 cases with the Russian side and we very much hope that all of these individuals can be released at an early date and be repatriated to India very soon,» he said.