Trade Financial News

Goldman Sachs posted a massive 150% jump in its second quarter profits, helped by a general resurgence of dealmaking and underwriting that has revived investment banking after the slow down of the previous couple years

A suspected attack by Yemen’s Houthi rebels has targeted a ship in the Red Sea

Butterfly Gandhimathi Appliances Ltd, which Crompton had acquired in FY22. Crompton took a strategic call to shift Butterfly’s focus from B2B to retail by spending on brand building and developing retail distribution network. B2B is a low margin business and reduces a company’s ability to charge a brand premium, hurting longer-term profitability.

Russia, including by encouraging rupee-rouble trade and pushing Moscow to lift non-tariff barriers, New Delhi said on Monday, in the wake of Prime Minister Narendra Modi's visit to Moscow. Old partners India and Russia have stepped up trade since Russia invaded Ukraine in early 2022, but the increase has been overwhelmingly one-way, dominated by India buying Russian oil shunned by traditional customers in Europe. Surging Russian exports to India accounted for $61.43 billion of the $65.7 billion in trade between the two countries in the last fiscal year that ended in March.

The near-term trend of Nifty remains positive. Having sustained above the hurdle of 24,400 levels (1.618% Fibonacci extension), there is a higher possibility of further gradual upmove in Nifty towards 24950 levels in the next one week. Immediate support is at 24,450, said Nagaraj Shetti of HDFC Securities.

EU) are expected to hold the next round of talks for the proposed free trade agreement, which aims at boosting commerce and investments, in September, an official said. Joint Secretary in the Department of Commerce Darpan Jain said that the eighth round of talks was concluded on June 28. He said that discussions were held on all 21 chapters in the meeting and progress was made in number of areas such as government procurement, digital trade, technical barriers to trade, goods, and market access. «We plan to hold more inter-sessional meetings in July and August and we intend to have another round (of talks) in the last week of September,» Jain told reporters here.

debt underwriting and a strong performance in its fixed-income trading business. Earnings were $3.04 billion, or $8.62 per share, for the three months ended June 30, compared with $1.22 billion, or $3.08 per share, a year earlier, the bank said on Monday.

US stock index futures opened little changed as investors weighed the market implications of the attack on Donald Trump that threatened to upend the US election.

Shares of Macrotech Developers Ltd.(up 4.87 per cent), Sunteck Realty Ltd.(up 4.15 per cent), Phoenix Mills Ltd.(up 2.2 per cent), DLF Ltd.(up 1.42 per cent) and Godrej Properties Ltd.(up 1.21 per cent) ended the day as top gainers in the pack.

The Russian Ministry of Finance is considering allowing qualified investors to trade digital currencies on licensed exchanges, such as the Moscow Exchange and St. Petersburg Exchange.

As world financial markets reopened after the attempted assassination of Donald Trump, one thing was clear: The Trump trade is gaining momentum. 

Varun Beverages Ltd, a franchise partner of PepsiCo, on Monday said its two subsidiaries plan to enter into an agreement with the multinational food and beverages major to manufacture, distribute and sell the snacks brand 'Simba Munchiez' in Zimbabwe and Zambia. The company plans to set up manufacturing units in Zimbabwe and Zambia entailing an investment of USD 7 million (around Rs 60 crore), according to a regulatory filing by Varun Beverages Ltd (VBL). Through its subsidiaries — VFZ Varun Foods (Zimbabwe) Pvt Ltd (VFZ) and Varun Beverages (Zambia) Ltd (VBZ), VBL has discussed with PepsiCo to further strengthen and expand the latter's footprint in the snacks portfolio. It has discussed with PepsiCo to enter into an exclusive snacks franchising appointment with Premier Nutrition Trading LLC, Dubai (a PepsiCo Inc. subsidiary) to manufacture, distribute and sell 'Simba Munchiez' in the territory of Zimbabwe and Zambia, the filing added.

Benchmark NSE Nifty closed 84.55 points up at 24586.7 amid buying in frontline bluechip counters.

Shares of Bank of Baroda(up 3.18 per cent), Punjab National Bank(up 2.71 per cent), State Bank of India(up 2.52 per cent), Bandhan Bank Ltd.(up 1.42 per cent) and IndusInd Bank Ltd.(up 0.67 per cent) ended the day as top gainers in the pack.

On the BSE, Sheetal Cool(down 10.85 per cent), Reetech Intnl. Cargo (down 10.42 per cent), GE Power India (down 9.99 per cent), Ascensive Educare(down 9.98 per cent) and Suryo Foods Ind(down 9.98 per cent) stood among the top losers in today's trade.

Shares of MphasiS Ltd.(up 1.72 per cent) and HCL Technologies Ltd.(up 0.61 per cent) ended the day as top gainers in the pack.

The IPO, which is entirely a fresh equity issue of 29.2 lakh shares, received bids for 65 crore shares as against just 20.96 lakh shares on offer.

JM Financial has initiated coverage on hospital stocks Fortis Healthcare, Max Healthcare and GPT Healthcare, as it sees an upside potential of up to 48.5%. The domestic brokerage firm has buy rating on Fortis and GPT with a target price of Rs 595 and Rs 245 respectively, while it has a hold rating on Max Healthcare with a target price of Rs 840.

Phillip Capital has maintained a sell view on IREDA, raising the target price to Rs 130 from Rs 110, noting that the recent stock rally, driven mainly by passive flows rather than fundamental reasons, has already priced in the best value. The domestic brokerage firm stated that they believe in continuing growth of the company as IREDA is likely to see strong loan growth at a CAGR of 25% over FY24-26 on rising demand for renewable energy in the country. However, the earnings growth is not expected to match the loan growth due to pressure on margins.

Tube Investments of India Ltd. fell 1.7 per cent to Rs 4077.15 in Monday's trade as of 02:05PM (IST) even as the benchmark Nifty ruled at 24615.85, up 113.7 points. The scrip had closed at Rs 4148.05 in the previous session. The stock quoted a 52-week low of Rs 2729.1 and a high of Rs 4666.0. The company quoted a market-cap of Rs 78792.06 crore on the BSE.

GACM Technologies DVR, and Indowind Energy are the three companies that have fixed July 16 as their record date for the rights issue at Re 1, Re 1, and Rs 22.5 per share, respectively. A rights issue occurs when a company asks its current shareholders to buy additional shares at a discount before a certain date. This gives shareholders the right, but not the obligation, to purchase new shares at a discount to the market price up to a specified future date.