Week Financial News

Wall Street’s dismal run is getting a bit of a reprieve, and stocks are ticking higher

Sept. 15–21, 2023

Prada achieved a state of unbearable lightness in a series of translucent chiffon dresses that gently cosseted the form, trailed by wispy strands of the finest organza.Designers Miuccia Prada and Raf Simons aptly dubbed the series of ethereal, windswept dresses previewed during Milan Fashion Week on Thursday as «Haze.» They never altered shape, only the shades of muted pastels shifted. They were paired with bright satin mules, either flats or with small triangular heels. As they did during menswear in June, models walked past a wall of clear, oozing slime, which pooled, then drained down an industrial grate runway, this season in peach.

Lucknow lost her life after she was shot allegedly by an acquaintance she had met on Instagram just ten days ago. As per a TOI report, the tragic event unfolded at a residence located in Dayal Residency on Faizabad road within the Chinhat area of Lucknow. The police have arrested the prime suspect, Aditya Pathak, a 26-year-old individual with a history of criminal activities.

Now in their 17th year, these awards are intended to recognise fund providers, research & ratings teams, wealth managers, fund selectors, service providers, consultancies and individuals who have a key part to play in the evolution of sustainable investing. 

Berger Paints climbed over 6% to hit a new 52-week high at Rs 666 in Friday's trade on BSE as it traded ex-bonus in the session. «Berger Paints fixed Saturday, September 23, 2023, as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for issue of bonus equity shares of the company in the ratio of 1:5, i.e., 1 equity share of Re 1 each for every 5 equity shares of Re 1 each,» the company said in an exchange filing. At 11.58 a.m., the stock was trading 5.8% higher at Rs 663.5 on BSE. On a year-to-date basis, the stock has gained nearly 40%, However, in the last two years, it has delivered negative 2% returns to its investors. Earlier, during the June quarter results, Berger Paints' Board of Directors approved the bonus issue of one bonus equity share against five equity shares. In Q1 FY24, the company reported a nearly 40% year-on-year (YoY) jump in its consolidated net profit at Rs 355 crore versus Rs 254 crore in the same quarter last year.

Stock market today: Downtrend in Vedanta shares continued for third straght session during Friday morning deals. Vedanta share price today opened higher at ₹228.50 per share levels but profit booking triggerd within few minutes of stock market's opening bell and the stock hit new 52-week low of ₹222.55 apiece on NSE.

Nifty PSU Bank index jumped over 2% on Friday's trading session after JP Morgan decided to include Indian government bonds in its widely watched emerging-market debt index. Shares of Central Bank of India, Canara Bank, Indian Bank , Union Bank of India, and Bank of Baroda gained 4% to 5% on Friday's session. Canara Bank share price and Union Bank of India shares touched new 52-week high today, while State Bank of India shares were trading close to their 52-week high.

Domestic benchmark index NSE Nifty fell 48.95 points to 19693.4, while the BSE Sensex traded 104.51 points down at 66125.73. On the other hand, Sonu Infratech, PNB Gilts, IFCI, Gujarat Ambuja and Giriraj Civil Devolp stocks hit their fresh 52-week highs today. In the Nifty 50 index, Maruti Suzuki, M&M, SBI, Tech Mahindra and HDFC Life were among the top gainers on the NSE. Cipla, Dr.

Benchmark NSE Nifty index fell 55.25 points to 19687.1 amid selling in frontline bluechip stocks. However, stocks such as Jiwanram Sheoduttrai, Jalan Transolutions, FutureLifestyleFash, Pramara Promotions and North Eastern(PP), touched their fresh 52-week low. Overall, 15 shares traded in the green in Nifty50 index, while 35 traded in the red. In the Nifty 50 index, Maruti Suzuki, SBI, M&M, HDFC Life and Tech Mahindra were among top gainers, while Cipla, Dr.

The average long-term U.S. mortgage rate edged up again this week, another setback for would-be homebuyers navigating an increasingly less affordable housing market

Benchmark NSE Nifty closed 159.05 points down at 19742.35 amid selling in frontline bluechip counters. However, stocks such as FutureLifestyleFash, Jiwanram Sheoduttrai, Pramara Promotions, Penta Gold and Vaxtex Cotfab, touched their fresh 52-week lows. Overall, 15 shares ended in the green in Nifty50 index, while 35 closed in the red. In the Nifty 50 index, Adani Ports SEZ, Tech Mahindra, Dr.

Stock market today: Key benchmark indices extended its slide for third straight session during morning deals on Thursday. BSE Sensex today opened lower at 66,608 and went on to hit intraday low of 66,219 levels, logging near 0.87 per cent dip during Thursday deals.

HDFC Bank share price extended decline for the third straight session on Thursday amid heavy selling in the banking heavyweight. HDFC Bank shares fell as much as 1.65% to ₹1,538.05 apiece on the BSE. HDFC Bank stock has lost more than 7% this week so far.

Nuvama Wealth Management, a company spun off from Edelweiss Financial Services, is poised for its stock market debut next week, a top executive said. The company is expected to list with a market capitalisation of ₹8,000-9,000 crore. The wealth management firm, earlier called Edelweiss Wealth Management, has received approvals from shareholders and almost all the authorities, including the National Company Law Tribunal and stock exchanges, for listing, chief executive and managing director Ashish Kehair said. The other two listed pure wealth management entities, 360 One WAM and Anand Rathi Wealth, currently trade at about 32 and 35 times their earnings per share for the past 12 months, with market capitalisations of ₹18,664 crore and ₹6,320 crore, respectively. For the year through March 2023, Nuvama reported a net profit of ₹323 crore, while 360 One WAM posted ₹658 crore and Anand Rathi Wealth reported ₹169 crore. Under the demerger plan, Nuvama allotted 10.5 million shares to the shareholders of Edelweiss Financial on a proportionate basis as consideration for demerger. Private equity fund PAG owns a 56% stake in Nuvama, while Edelweiss Group has about 14%.

Domestic benchmark index NSE Nifty ended 231.9 points down at 19901.4, while the BSE Sensex closed 796.0 points down at 66800.84. On the other hand, Jindal Photo, HSIL, Blue Star, IFCI and Moksh Ornaments Ltd.

Benchmark NSE Nifty closed 231.9 points down at 19901.4 amid selling in frontline bluechip counters. However, stocks such as SS Infrastructure, Jiwanram Sheoduttrai, FutureLifestyleFash, Shri Techtex and Penta Gold, touched their fresh 52-week lows. Overall, 10 shares ended in the green in Nifty50 index, while 39 closed in the red. In the Nifty 50 index, Power Grid, Coal India Ltd, ONGC, Sun Pharma and Eicher Motors were among top gainers during the day, while HDFC Bank, JSW Steel, RIL, BPCL and SBI Life ended in the red. The BSE Sensex closed 796.0 points down at 66800.84. Traders piled up positions in Telecommunications, Rubber, Term Lending Institutions, Tyres and Consumer Durables sectors, while selling was witnessed in Banks, Petrochemicals, Power, Metals — Ferrous and Electric/Electronics sectors during the day.

SJVN shares zoomed over 9% to hit a new 52-week high of Rs 83.7 in Wednesday's trade on BSE after the firm signed a Memorandum of Understanding (MoU) with Power Finance Corporation (PFC) for financial assistance for projects. «PFC and the Company have signed a Memorandum of Understanding (MOU) for financial assistance to various diversified portfolio of projects including majorly Renewable Energy projects and thermal generation project to be set up at total project cost of about Rs 1,18,826 crore,» the company said in an exchange filing. As per the MoU, the term loan financial assistance is proposed tentatively at 70% of the project cost, which may be increased for renewable energy projects as per project requirements. At 12.27 p.m., the scrip was trading 8.7% higher at Rs 83.2 on BSE. SJVN also delivered multibagger returns, as it has rallied over 170% in the last six months.

Digikore Studios (Digikore) synonymous with Hollywood movies ans shows like Stranger Things, Deadpool, Star Trek, Thor: Love and Thunder and Titanic will launch its initial public offering (IPO) on Monday, September 25. The issue closes on September 27, Wednesday. The price band for the IPO has been fixed at Rs 168-171 per equity share. The IPO comprises a total of 17,82,400 equity shares, including a fresh issue of 1,260,800 equity shares and an offer for sale (OFS) of 5,21,600 equity shares, the company said in its media release. The minimum bid lot for investors is set at 800 shares.

SJVN share price rallied over 9% to hit a fresh 52-week high on Wednesday after the company signed a Memorandum of Understanding (MoU) with Power Finance Corporation (PFC) for financial assistance for projects. SJVN shares jumped as much as 9.31% to a 52-week high of ₹83.69 apiece on the BSE. The state-run hydroelectric power generation and transmission company SJVN said that it signed MoU with PFC for financial assistance to various diversified portfolio of projects including majorly Renewable Energy projects and thermal generation projects to be set up.

Benchmark NSE Nifty index fell 180.4 points to 19952.9 amid selling in frontline bluechip stocks. However, stocks such as Pramara Promotions, Jiwanram Sheoduttrai, FutureLifestyleFash, Penta Gold and Jalan Transolutions, touched their fresh 52-week low. Overall, 14 shares traded in the green in Nifty50 index, while 35 traded in the red. In the Nifty 50 index, Power Grid, Coal India Ltd, Bajaj Auto, NTPC and Axis Bank were among top gainers, while HDFC Bank, BPCL, Apollo Hospital, RIL and JSW Steel traded in the red. The BSE Sensex was trading 629.44 points down at 66967.4 at 11:05AM(IST). Traders were seen piling up positions in Telecommunications, Term Lending Institutions, Glass, Mining and Tyres sectors, while selling was visible in Banks, Power, Irrigation & Allied Services, Petrochemicals and Metals — Ferrous sectors.