Trade Financial News

Shares of Chewy are volatile in early trading after a regulatory filing revealed that Roaring Kitty, an investor at the center of the meme stock craze, has taken a 6.6% stake in the online pet retailer

New Zealand’s tax authority revealed on Thursday that it is targeting individuals actively trading crypto who have not reported their income from these transactions in tax filings.

Zomato Ltd. gained 1.76 per cent to Rs 212.75 in Wednesday's trade. It hit a high of Rs 213.8 and low of Rs 205.3 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 149.25, while the 50-DMA was at Rs 190.62. 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.

Adani Wilmar today surged 4.4% on BSE to a high of Rs 347.50 after the company achieved a robust volume growth of 13% YoY in the quarter ended June 2024 along with a 36% increase in volume of their branded exports. The company’s alternate channels like e-com and quick commerce were also able to maintain momentum with a 19% YoY volume growth.

China’s Commerce Ministry has announced it will launch an investigation into whether unfair trade practices were adopted by the European Union in its probe of Chinese companies

Indiabulls Housing Finance has changed its name to Sammaan Capital following the receipt of Certificate of Incorporation from the Registrar of Companies (RoC) and Certificate of Registration as an NBFC-ICC (Investment and Credit Company) from the Reserve Bank of India. The company will soon be submitting requisite applications with the stock exchanges for effecting change of name and trading in the shares of the company in its new name and a new symbol, the NBFC said in a regulatory filing. “Strategically, our business will continue to be retail-focused built on the two loan products of affordable home loans and mortgage-backed loans to micro, medium and small businesses. We will pursue AUM growth in an asset-light model, working as an origination-engine to source loans in co-lending and sell-down partnerships with banks and financial institutions,” the company said.

The financial sector has been rapidly adopting artificial intelligence (AI) technologies, particularly generative AI and large language models (LLMs), to enhance various aspects of operations and customer interactions.

Investors are piling into Bitcoin exchange-traded funds, betting the supply overhang that’s pushed the token lower in past weeks has created a buying opportunity.

If you’re thinking of exiting the bull market, read this Similarly, the other call was to stop new money flows, leaving current investments intact. In fact the fund manager said in the same note, “The valuation and growth prospects for our portfolio companies look reasonable, and we will continue to hold them." He went on to say it was difficult to find new ideas, adding, “Our offshore fund, which is currently in a very nascent stage, will continue to accept funds." Underneath the scary headline, the situation was that a research house, at worst, couldn’t find new ideas. The fund manager owned stocks at reasonable valuations.

United Spirits, Axis Bank, AU Small Finance Bank, and Indian Oil, among 18 stocks, are likely to remain in focus today as it is the last day to buy these stocks to qualify for the dividend. These stocks will trade ex-dividend starting July 11, which is Friday.

The U.S. Marshals Service (USMS), a division of the Department of Justice responsible for asset forfeiture, has partnered with Coinbase Prime, the brokerage platform of major crypto exchange Coinbase.

Southwest Airlines has adopted a ‘poison pill’ following activist investor Elliott Investment Management taking a significant stake in the company

Bandhan Bank, Chambal Fertilizers & Chemicals, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), India Energy Exchange (IEX), India Cements, Indus Towers, Piramal Enterprises (PEL) and RBL Bank. RBL Bank is the latest entrant into the list.

Rekha Jhunjhunwala has trimmed her stakes in smallcap counter Raghav Productivity Enhancers in the quarter ended June 30, 2024. Her holding as on this date stood at 4.98%, down by 8 bps from 5.06% in the previous quarter. The stock has rallied 70% in the last 12 months and its returns in 2024, so far stand at 19%. The outperformance over Nifty is more than two-fold over a 1-year period.

Narendra Modi on Thursday said the 'Make in India' initiative can add to engines of global growth and help democratise the global economy, and highlighted the importance of creating multiple, reliable and resilient supply chains. External Affairs Minister S Jaishankar, who is in Astana to attend the SCO Summit, delivered Modi's remarks at the extended format meeting of the Shanghai Cooperation Organisation (SCO) Council of Heads of State here in the Kazakh capital. Modi said that India has contributed significantly to enhancing the economic agenda of the SCO grouping with institutionalised mechanisms such as the SCO Startup Forum and Special Working Group on Startup and Innovation. With 130,000 startups in India, including 100 unicorns, our experience can be useful to others, a Ministry of External Affairs statement cited the prime minister as saying in his remarks.

WisdomTree is building on the momentum in its model portfolios business by rolling out a new suite of solutions for investment advisors.

Aditya Vision, in which Ashish Kacholia has a 1.87% stake, on Wednesday informed exchanges about the stock split of its equity shares into 10 fully paid shares. The company will announce the record date for the subdivision of equity shares after the receipt of approval of the members.

Budget 2024 Expectations Live Updates: Prime Minister Narendra Modi is scheduled to meet with distinguished economists on Thursday to gather their perspectives and recommendations for the upcoming fiscal year. This meeting, which will also include Niti Aayog Vice Chairman Suman Bery and other key members, aims to influence the first major economic policy of Modi’s third term.

The Biden administration is imposing tariffs on steel and aluminum shipped from Mexico that were made elsewhere

Trent Ltd. traded 0.56 per cent lower in Tuesday's session at 12:37PM (IST). The stock opened at Rs 5624.15 and has touched an intraday high and low of Rs 5628.0 and Rs 5552.0, respectively, during the session so far. The stock quoted a 52-week high of Rs 5662.8 and a 52-week low of 1657.25. About 6,140 shares changed hands on the counter so far.

Donald Trump loves to remind voters that President Biden has overseen the highest inflation in 40 years. But don’t count on Trump, the presumptive Republican nominee for president, to bring inflation down faster than Biden if he wins the presidential election in November. Most economists believe inflation, deficits and interest rates would be higher during a second Trump administration than if Biden remains in the White House, according to a quarterly survey of forecasters by The Wall Street Journal.