Trade Financial News

SBI Cards and Payment Services Ltd. traded at Rs 717.5 on BSE at 01:34PM (IST) on Tuesday, down 1.4 per cent. The stock quoted a 52-week low price of Rs 649.0 and a high of Rs 892.75. Earlier in the day, the stock saw a gap up opening.

Capital goods stock plunged up to 8% on BSE in Tuesday's trade after the Union Finance Minister Nirmala Sitharaman proposed to maintain the capital expenditure target at Rs 11.11 lakh crore for this fiscal year as announced in the interim budget in February. While announcing the interim Budget ahead of the Lok Sabha elections, India had proposed boosting the capital expenditure target by 11.1% to record Rs 11.11 lakh crore for fiscal year 2025, banking on its huge multiplier impact on economic growth and employment creation.

Havells India Ltd. traded 2.06 per cent down at Rs 1732.1 at 01:39PM (IST) on Tuesday, even as BSE benchmark Sensex dropped 517.86 points to 79984.22. The stock had settled at Rs 1768.55 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 1986.55 and Rs 1233.1, respectively.

Having secured the backing of leading Democratic donors and many party officials, Harris, currently vice president, is now on track to be officially nominated as the Democrats' nominee for the November election. Her nomination came shortly after Biden announced his withdrawal from the re-election race, and in the process, throwing his weight behind Harris. «Today I want to offer my full support and endorsement for Harris to be the nominee of our party this year. Democrats — it is time to come together and beat [Donald] Trump,» Biden wrote on X, formerly known as Twitter.  Richard d...

InterGlobe Aviation Ltd. fell 0.78 per cent to Rs 4301.6 in Tuesday's trade as of 12:12PM (IST) even as the benchmark Nifty ruled at 24466.65, down 42.6 points. The scrip had closed at Rs 4335.8 in the previous session. The stock quoted a 52-week low of Rs 2334.95 and a high of Rs 4610.0. The company quoted a market-cap of Rs 166139.17 crore on the BSE.

Tube Investments of India Ltd. fell 1.54 per cent to Rs 4057.55 at 12:17PM hours (IST) on Tuesday. Earlier in the day, the stock saw a gap down start to the session. As per data available on BSE, total traded quantity on the counter stood at 3,534 shares with a turnover of Rs 1.44 crore till 12:17PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 65.18, while the price-to-book value ratio stood at 14.15.

ICICI Lombard General Insurance Company Ltd. traded 0.94 per cent down at Rs 1879.1 at 12:22PM (IST) on Tuesday, even as BSE benchmark Sensex dropped 700.2 points to 79801.88. The stock had closed at Rs 1897.0 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 1925.05 and Rs 1266.0, respectively.

silver September futures at MCX opened 0.21% or Rs 191 lower at Rs 89,012/kg. Gold prices have fallen by Rs 1,500/10gm in the last one week whereas silver prices have witnessed a fall of Rs 4,600/kg in the same duration.

SME IPO of VVIP Infratech has opened for subscription today and will close on July 25. The company aims to raise about Rs 61.21 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue. 1) VVIP Infratech IPO size

Dalal Street has been brimming with confidence that Nirmala Sitharaman will continue singing the good old capex song in the Union Budget once again today, there are fears that the dharma of coalition politics might have a bearing on government policies as well. The tough ask for Sitharaman is to balance welfare spending without losing the grip over capex. The consensus view on Dalal Street is that strong economic momentum, robust GST collection, asset monetisation and record RBI dividend can help the government deliver on both.

Budget 2024 day. The Nifty future closed negative with losses of 0.05% at 24,517 levels on Monday. India VIX was up by 4.18% from 14.82 to 15.44 levels.

The SEC has approved several spot Ethereum exchange-traded funds (ETFs), allowing them to begin trading on Tuesday, July 23rd after weeks of registration statement revisions.

«One is the kind of impetus that the government has always placed on investment and therefore what is the kind of growth that you are expecting from the capital expenditure side vis-a-vis the revenue expenditure, so that is one number to watch out for,» says Shibani Sircar Kurian, Kotak Mahindra AMC. What is the market expecting from the budget, does not seem like there is going to be any tinkering on the capital gains taxes at least, but yes, the market is waiting and watching whether it is going to be the budget or it is going to be something from SEBI with regards to options trading for sure. Shibani Sircar Kurian: So, if you look at the budget, of course, the budget sets the policy tone for the rest of the year and also sets the agenda for the government during its term.

«Some of the companies will be absorbed by the bigger players, so to your question who will be the winner here, I think that one should stick with the larger companies, the more efficiently managed companies and companies with a franchise, with a brand which the consumer appreciates and looks forward to staying in, I think that that is the space which is going to benefit going forward,» says Anshul Saigal, Founder, Saigal Capital. After what seemed like an inline Q1, because of the monsoon quarter perhaps which is going to flow through in Q2, who do you think is going to win the battle and whether or not you think hotel industry has a prosperous rest of FY25 ahead of them? Anshul Saigal: So, if you go back to the 2003-2007 cycle you look at where rates went around the time of 2007-2008, we are still scraping only the surface in hotel tariffs at this moment. Even though occupancy is high, hotel tariffs are also up, but in comparison to where they were in that phase, we are nowhere close.

China on Monday surprised markets by cutting major short and long-term interest rates in its first such broad move since last August, signalling intent to boost growth in the world's second-largest economy.

Wall Street as investors looked beyond Joe Biden ending his reelection campaign to focus on the start of the tech earnings season. The MSCI Asia Pacific Index snapped a three-day decline, as shares from Japan to South Korea and Australia rose at the open. That followed a 1.1% jump in the S&P 500, ahead of earnings from Tesla Inc. and Alphabet Inc. due later Tuesday.

Hedging is back as investors fret over concerns about everything from the US presidential election to second-quarter earnings, economic growth and interest rates. The Cboe Volatility Index, a gauge of options prices, surged the most in more than a year last week as stocks sank with growing calls for Joseph Biden to quit the presidential race. Now that he's done so and thrown US politics into uncharted territory, futures on the gauge have slipped after earlier climbing as much as 1.8% in Asian trading. October contracts, which measure swings around the vote, rose even more in Hong Kong.

Wipro shares tumbled over 9% in Monday's trading after the company's first-quarter results missed estimates. Analysts expect the stock to underperform its peers such as Infosys and Tata Consultancy Services (TCS) in the foreseeable future till the software major shows signs of revival in revenue growth. The stock closed at ₹505.35 on Monday, down 9.2% — its biggest single-day fall since March 2020.

Oil prices slipped for a third trading session on Tuesday as investors focused on the prospect of swelling oil supplies and weak demand, while showing little reaction to U.S. presidential campaign upheaval. Brent crude futures for September fell 9 cents to $82.31 a barrel by 0005 GMT. U.S. West Texas Intermediate crude for September declined 10 cents to $78.30 per barrel.

Union Budget, volatility is expected to remain high on Tuesday. «We thus maintain a cautious stance and recommend a hedged approach. Traders should seek buying opportunities in low-beta counters, especially in the defensive sectors, and remain selective in other areas,» said Ajit Mishra – SVP, Research, Religare Broking.

Gate.io, one of the world’s leading cryptocurrency exchanges, announced its decision to terminate services in Japan and will stop opening new accounts for Japanese residents from July 22, 2024.