Trade Financial News

In the world of finance, gravity can serve as a metaphor for the intrinsic forces that pull asset prices towards their fundamental values.

Fabtech Technologies, a turnkey engineering solutions provider for the pharmaceuticals, biotech and healthcare industry has filed its draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The IPO with a face value of Rs 10 per equity share is entirely a fresh issue of up to 1.20 crore equity shares. The offer also includes a reservation for a subscription by eligible employees and a discount is being offered to eligible employees bidding in the employee reservation portion.

Bitcoin prices (BTC) fell over 2% on Monday and were trading at $58,826.93 around 1 pm IST ahead of the Federal Reserve's rate-setting committee meeting which begins on Tuesday. Major altcoins Ethereum (ETH), Tether, BNB, Solana, XRP, Dogecoin, Toncoin, Cardano, Avalanche, and Shiba Inu were trading with up to 5% losses around this time. Among gainers was Tron which was trading up by over 1% meanwhile.

SRF Ltd. slipped 1.02 per cent to Rs 2441.7 in Monday's trade as of 01:13PM (IST). It hit a high of Rs 2476.0 and low of Rs 2440.0 during the session. The stock quoted a 52-week high price of Rs 2697.45 and a low of Rs 2081.25. The return on equity for the stock stood at 11.63 per cent. About 7,243 shares have changed hands on the counter so far.

«What I can say is that from a gold point of view, you have to look at the fundamentals of where gold is headed and what are the reasons of those fundamentals, the way they are panning out?,» says Sachin Jain, Regional CEO India, World Gold Council Gold prices have hit a record high of $2,570 per ounce. Do you expect this upward trend in gold prices to continue? What is your internal estimate? Where do you see the prices to be going forward because foreign brokerages are expecting gold prices to touch around $2,700 levels. Sachin Jain: So, I will not be able to comment on the recommendations or the target given by Goldman Sachs or any other company. But what I can say is that from a gold point of view, you have to look at the fundamentals of where gold is headed and what are the reasons of those fundamentals, the way they are panning out? First of them is the central bank's buying, that is an important consideration. Second is the consumption demand in jewellery. The third is how the financial markets normally react. And the fourth is normally the new age requirements of gold, which are mostly around to do with new age technology and so on and so forth.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Abneesh Roy, Executive Director, Nuvama Institutional, says the food space is quite attractive and there we will prefer Bikaji because it is a pure-play foods company. Among larger companies, he also likes HUL and ITC. Food is an attractive category, but there are very diversified companies. A double-digit volume growth for Bikaji is seen in last many quarters and that is expected to continue. After the edible oil duty hike, in H2, most of the food companies are expected to take price hikes. That should help overall pricing growth also. While the first quarter was subdued, we did see some positive outlooks from a few QSR companies. What is happening in terms of a meaningful recovery, on ground zero? Abneesh Roy: Gradual recovery will happen. That space has seen slowdown now almost for six quarters. The base has become favourable, but there is a lot of competition between the players and delivery seems to be doing better. So, delivery-focused players should do better. But urban consumption is still a challenge. We have seen the impact of higher interest rates. We have also seen the impact of job losses and the salary cuts in the D2C startups.

LIC Housing Finance shares fell over 6% while those of PNB Housing Finance plunged nearly 7% as the stellar debut of Bajaj Housing Finance on Monday took away all the limelight from them. Bajaj's multibagger debut saw the stock get listed at a premium of 114%. LIC Housing shares today fell to the day's low of Rs 678 on the NSE amid strong volumes as more than 92 lakh shares changed hands around 2 pm. On the other hand, PNB Housing fell to the day's low 1,061.05 following a Friday rally where the stock had hit its 52 week high of Rs 1,202.20.

Indian stock markets, including equity, derivatives, and SLB segments, remain open today for trading on Eid-e-Milad-un-Nabi. It is however a settlement holiday and as such no settlements happen today, said Nithin Kamath, founder of online brokerage platform Zerodha in his post on the social media platform X. “Today is a settlement holiday, and thus, settlements of funds and stocks don't happen. This happens when banks in Maharashtra are closed, but trading on exchanges is open,” said Kamath in the post.

Shree Cements Ltd. traded 0.77 per cent up at Rs 25700.55 at around 12:06PM (IST) on Monday. The stock had closed at Rs 25902.4 in the previous session. Equity benchmark Sensex traded 4.25 points lower at 82886.69 around the same time.

<a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. 0.0 per cent to Rs 5495.3 at 01:08PM (IST) in Monday's trade. The stock hit a high of Rs 5518.8 and low of Rs 5474.55 so far during the session. The stock had closed at Rs 5495.65 in the previous session. The counter had a total traded volume of 01:08PM shares so far with a turnover of Rs 1.79 crore on BSE. The stock traded at a price-to-earnings multiple of 87.01 and a price-to-book ratio of 6.71.

ACC Ltd. traded 0.09 per cent up at Rs 2514.9 at around 11:51AM (IST) on Monday. The stock had closed at Rs 2517.25 in the previous session. Equity benchmark Sensex traded 2.39 points higher at 82893.33 around the same time.

Voltas Ltd. slipped 0.4 per cent to Rs 1914.35 in Monday's trade. It hit a high of Rs 1931.0 and low of Rs 1906.7 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 1282.45, while the 50-DMA was at Rs 1612.58. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

IPO) of Arkade Developers was fully subscribed within just 2 hours of its opening, with a subscription rate of 126% so far. Around 12 noon, the highest demand was driven by the retail investors, booking the issue by 2.15 times, followed by the non-institutional investors, subscribing the issue by 1.2 times. The portion for qualified institutional buyers had attracted only 3,300 bids against 67.44 lakh shares reserved for them.

European shares started a data-packed week on a lower note as traders maintained a cautious stance ahead of a long-awaited monetary easing cycle by the U.S. Federal Reserve, with many leaning towards a bigger-than-expected rate reduction. The pan-European STOXX 600 index was down 0.3%, as of 0710 GMT on Monday, with all major European markets lower and most of the sub-indexes trading in the red.

Among these three, two are ETFs and one is an index fund. Groww Nifty 1D Rate Liquid ETF Groww Nifty 1D Rate Liquid ETF is an open-ended Exchange Traded Fund replicating / tracking Nifty 1D Rate Index with a relatively low interest rate risk and relatively low credit risk scheme. The NFO is open for subscription and will close on September 20.

«Nifty has hit new highs, but Bank Nifty has not hit new highs, so there is some unfinished business and components of Bank Nifty are looking positive on the chart. So, I maintain constructive view on Bank Nifty compared to Nifty and before the event we could consolidate in a tight range,» says Aditya Arora, Adlytick. Around 100 points of correction that we are seeing in Nifty today after touching life high, where do you expect the markets to head going forward, do you expect them to consolidate at current levels? Aditya Arora: Yes, I agree with you, Nifty is expected to consolidate in a narrow range because we have Fed event lined up on 17th and 18th of September, which is a very big trigger for the market. Just to bring forward a very interesting fact, we had Federal meeting on 17th and 18th of September in 2007 as well, and this is much awaited rate cut after almost three to four years. So, market will watch out for some key numbers. Like, last time Nifty shot up almost 4% in 2007, but what I am trying to say is that we can expect 2% to 4% kind of volatility in the market post the event, prior to that Nifty may consolidate in a wide range and Bank Nifty looks pretty constructive compared to Nifty because there is some unfinished business over there.

toxic work culture" and demanding the resignation of Sebi chief Madhabi Puri Buch, the markets regulator on Monday withdrew its earlier statement blaming «external elements» for the protests. In a fresh statement issued to the media during the day, Sebi said that its earlier press release issued on 4th September, after which scores of its employees gathered around the regulator's headquarters in Mumbai's BKC to stage a silent protest against their boss Buch, stands withdrawn.

Tata Elxsi Ltd. gained 0.05 per cent to Rs 7717.75 at 11:57AM (IST) in Monday's trade. The scrip hit a high of Rs 7768.0 and low of Rs 7705.8 so far during the session. The stock had closed at Rs 7713.2 in the previous session. The counter had a total traded volume of 11:57AM shares so far with a turnover of Rs 1.92 crore on BSE. The stock traded at a price-to-earnings multiple of 61.14 and a price-to-book ratio of 19.34.

Subscribe to enjoy similar stories. The year 1979 was a pivotal one in Sino-American relations. On a historic visit to the US, Deng Xiaoping, China’s paramount leader, met with US President Jimmy Carter at the White House and attended the Round-Up Rodeo in Simonton, Texas, where he donned a ten-gallon hat and charmed the crowd.

Subscribe to enjoy similar stories. Bajaj Housing Finance’s bumper listing today (16 September) might leave many investors feeling pangs of regret. The stock debuted at ₹150 per share, a staggering premium of 114% over its issue price of ₹70 apiece, possibly igniting a wave of FOMO (fear of missing out) among those who were unable to secure allotments in the company’s initial public offering (IPO).