Trade Financial News

Shares of ICICI Bank Ltd.(up 1.07 per cent), Axis Bank Ltd.(up 0.71 per cent), IDFC First Bank Ltd.(up 0.52 per cent), Federal Bank Ltd.(up 0.51 per cent) and HDFC Bank Ltd.(up 0.44 per cent) ended the day as top gainers in the pack.

Reserve Bank of India (RBI) Thursday said that banks must reduce their reliance on wholesale deposits to fund loans, and be watchful of the risks associated with their advances and trading exposures amid interest rate fluctuations. “Considering the dynamic nature of the interest rate risk, banks may have to address both trading and banking book risks, especially in the light of moderating net inter margins,” the RBI said in its annual report for FY24 Thursday. “On the liabilities side, it is imperative to focus on diversification of deposit sources as reliance on bulk deposits heightens sensitivity to interest rate fluctuations,” it added. The RBI also pointed out that regulatory measures aimed at slowing consumer lending have worked.

Reserve Bank of India will boost ongoing efforts towards the internationalisation of the rupee by bringing regulatory changes for non-residents, while taking steps to bolster the GIFT City’s appeal vis-à-vis other international financial centres. “Efforts are underway towards internationalisation of the Indian Rupee (INR) through settlement of bilateral trade in local currency,” RBI officials wrote in the central bank’s annual report for 2023-24. “To promote the internationalisation of INR and support local currency settlement with partner countries, it is necessary to liberalise the regulations relating to INR accounts for non-residents,” they wrote.

₹50 per share, as per stock market observers. This indicates that Aimtron Electronics shares trading at ₹211 apiece in the grey market, higher by ₹50, or at a premium of 31.06% to the issue price of ₹161.Also Read: Awfis Space Solutions share price makes a positive debut, stock opens with 13.5% premium at ₹435 apiece on NSEAimtron Electronics IPO has been subscribed 0.90 times so far on May 30, the first day of the bidding process.

Stock market today: Amidst the recent stock market crash, which was triggered by rising US treasury yield and soaring crude oil prices on rising tension in the Middle East, a few stocks are defying the trend and attracting strong bulls' interest. Notably, East West Holdings shares are among them. This penny stock opened with an upside gap and reached an intraday high of ₹6.44 apiece on BSE, marking a significant 10 percent increase from yesterday's close of ₹5.86 per share.

Stay up to date with our new daily update, The US in brief, and our presidential poll tracker. Read more of our coverage of the US elections of 2024. Admirers and detractors alike, however, struggle to predict specific policies Mr Trump might adopt. Even those close to him admit that, until he is in the room with the likes of Vladimir Putin, Xi Jinping or Prince Muhammad bin Salman, he may not know himself what he wants to do. The art of the deal, they claim, lies in personal dynamics.

Adani Green Energy Limited (AGEL) from 'IND A+' to 'IND AA-', with a Stable outlook. This significant upgrade underscores AGEL's robust operational performance, enhanced execution capabilities, and improved financial health, on May 30.The upgrade reflects AGEL’s strong operational asset performance, increased annual capacity additions, and healthy counterparty diversification.

Tata Steel slumped nearly 5% in today's trade to reach ₹165.50 apiece, a day after the company reported Q4 and FY24 numbers. On Wednesday, post market hours, the company reported a 64.59% decline for its Q4 FY24 consolidated net profit to ₹554.56 crore, led by lower steel realisations across geographies.Total revenue from operations fell to 58,687 crore from ₹63,131.08 crore in the same quarter of last year, owing to a nearly 4% drop in its mainstay India business, which contributed at least 62% of the overall revenue.

– $BONK price surged this week but corrected after Ethereum ETF approvals

Balkrishna Industries Ltd.(up 0.68 per cent), Hero MotoCorp Ltd.(up 0.62 per cent), Apollo Tyres Ltd.(up 0.34 per cent) and Ashok Leyland Ltd.(up 0.05 per cent) were among the top gainers.

Prestige Estates Projects Ltd.(up 1.48 per cent), Macrotech Developers Ltd.(up 0.96 per cent) and Mahindra Lifespace Developers Ltd.(up 0.59 per cent) were among the top gainers.

rupee depreciated 9 paise to 83.27 against the US dollar on Wednesday, tracking a negative trend in domestic equities and elevated crude oil prices. Forex traders said the local unit faced some resistance due to subdued sentiment in the domestic equity market and strengthening of the American currency in the overseas market. At the interbank foreign exchange market, the local unit opened at 83.22 and lost further ground to trade at 83.27 against the greenback, registering a loss of 9 paise from its previous closing level.

(This story originally appeared in on May 30, 2024)

This listing follows the SEC’s approval of a total of eight spot Ethereum Exchange Traded Funds (ETFs). Following this major move for ETFs in the Web3 space, traders have begun to diversify their holdings in order to get the most out of the market. Out of the thousands of available altcoins, five have stood out the most as cryptos that can surge in value immensely, and these include KangaMoon (KANG), NEAR Protocol (NEAR), Ethereum Classic (ETC), Chainlink (LINK) and Ethena (ETA). Let’s take a look at these cryptocurrencies:

SME IPO of Associated Coaters opened for subscription earlier today and will close on June 3. The company aims to raise about Rs 5.11 crore through the SME IPO and list the shares on BSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue. 1) About Associated Coaters

Emami Ltd.(up 15.08%), Heritage Foods Ltd.(up 10.35%), Varun Beverages Ltd.(up 1.73%), Adani Wilmar Ltd.(up 1.24%), JHS Svendgaard Laboratories Ltd.(up 0.79%), Dangee Dums Ltd.(up 0.63%), Jyothy Labs Ltd.(up 0.54%) and Euro India Fresh Foods Ltd.(up 0.42%) were among the top gainers.

Sikko Industries Ltd.(up 2.03%) were among the top gainers.

The NSE Nifty index was trading 132.3 points down at 22572.4, while BSE Sensex was down 403.07 points at 74099.83 at the time of writing this report.

RattanIndia Power Ltd.(up 4.89%), Adani Power Ltd.(up 2.52%), Jyoti Structures Ltd.(up 2.46%), Inox Wind Ltd.(up 0.70%), Hitachi Energy India Ltd.(up 0.48%) and Adani Energy Solutions Ltd.(up 0.12%) were among the top gainers.

On the BSE, Brisk Technovision(down 19.83 per cent), AVG Logistics(down 12.82 per cent), Ahluwalia Contracts(down 12.11 per cent), Edelweiss Financial(down 11.42 per cent) and Titan Biotech(down 11.05 per cent) were among the stocks that plunged over 5 per cent during the session.

shares of Awfis Space Solutions listed on the exchanges on Thursday with a premium of 13.6%. The stock debuted at Rs 435 on NSE as against an issue price of Rs 383 per share. Ahead of the listing, the company's shares traded with a GMP of Rs 125 in the unlisted market.