Week Financial News

₹25 per quintal is anticipated for SAP for the 2023–2024 season. Uttam Sugar Mills (up over 6%), Ugar Sugar Works (up over 4%), Mawana Sugars (up over 3%), K M Sugars Mills (up over 6%), Dalmia Bharat Sugar & Industries (up nearly 7%), Sakthi Sugars (up nearly 5%), Avadh Sugar & Energy (up over 8%), Balrampur Chini Mills (up over 2%), Bajaj Hindusthan Sugar (up nearly 14%), Triveni Engineering & Industries (up over 6%) were all trading in the green zone. Uttam Sugar Mills share price, Avadh Sugar & Energy share price, Bajaj Hindusthan Sugar share price, Triveni Engineering & Industries share price touched new 52-week high in today's session.

Bitcoin (BTC) launches its first full week of September with BTC price action at a crossroads — can $26,000 return?

IDFC First Bank jumped 5.4% to hit a 52-week high of Rs 98.5 in Monday's trade on BSE after US-based GQG Partners bought a stake in the private lender through bulk deals on Friday. According to exchange data, GQG Partners has picked up 17.1 crore shares or 2.58% stake in the lender for about Rs 1,527 crore. The transaction was done at Rs 89 apiece. Meanwhile, Warburg Pincus affiliate Cloverdell Investment has sold a 4.2% stake in the company.

Nazara Technologies share price jumped over 12% to hit a 52-week high on Monday after the company’s board approved to issue shares worth ₹100 crore to Zerodha’s founders Nikhil Kamath and Nithin Kamath. Nazara Technologies shares rallied as much as 12.46% to ₹853.80 apiece on the BSE.

Wipro's daily chart shows the formation of a symmetrical triangle pattern, accompanied by lower trading volumes, suggesting a potential breakout in the near future, says Rupak De, Senior Technical analyst at LKP Securities. Besides Wipro, MMTC is his other stock idea for this week. Edited excerpts from an interview:August F&O rollover data shows FIIs decreased their net Long position by 31,000 contracts in August series. Nifty rollovers reduced month-on-month to 78%. What are the targets for the September series given the fact that there's little bullishness left as far as the headline indices are concerned?Nifty witnessed a rollover rate that was on par with the three-month average. Notably, the Cement sector and Realty sector stood out as the top two sectors where the rollover rate exceeded the three-month average rollover. Within the market, Dalmia Bharat, MCX, and Bharti Airtel were the top three stocks exhibiting the highest divergence in rollover rates compared to their respective averages. In the September series, the Nifty appears to be in a bullish trend as it has just crossed above the 21-day Exponential Moving Average (EMA) for the first time in several days. This suggests the potential for a bullish reversal. Additionally, the index has broken out of a falling channel, further indicating increasing bullish sentiment.

Ukraine President Volodymyr Zelenskyy said Sunday that defense minister Oleksii Reznikov will be replaced this week with Rustem Umerov, a Crimean Tatar lawmaker. Zelenskyy made the announcement on his official Telegram account, writing that new leadership was needed after Reznikov went through «more than 550 days of full-scale war.» Later in his nightly address, Zelenskyy said he believes «that the Ministry needs new approaches and different formats of interaction both with the military and with society.» «The Verkhovna Rada (parliament) of Ukraine is well acquainted with this person, and Umerov does not require additional introductions. I expect support for this candidacy from parliament,» the president told the nation. Umerov, 41, a politician with the opposition Holos party, has served as head of the State Property Fund of Ukraine since September 2022. He was involved in the exchange of prisoners of war, political prisoners, children and civilians, as well as the evacuation of civilians from occupied territories. Umerov was also part of the Ukrainian delegation in negotiations with Russia over the U.N.-backed grain deal.

Ukraine's President Zelenskyy announces that Defense Minister Oleksii Reznikov will be replaced by Rustem Umerov this week. Zelenskyy announced on his official Telegram account, writing that new leadership was needed after Reznikov went through "more than 550 days of full-scale war." In a night address, the Ukrainian President added that he believes “that the Ministry needs new approaches and different formats of interaction both with the military and with society." “The Verkhovna Rada (parliament) of Ukraine is well acquainted with this person, and Umerov does not require additional introductions. I expect support for this candidacy from parliament," Zelenskyy added.

Stocks on Wall Street ended mostly higher on Friday to notch their best week since June, after the latest U.S. jobs report solidified expectations of a pause in interest rate hikes this month.

United Kingdom is gearing up for the warmest weather of the year this week as a looming heatwave promises temperatures exceeding 30 degrees Celsius. While autumn officially commenced on September 1st, much of the UK will experience a late surge of summer heat, coinciding with the return of many students to school.

college football season, Week 1 witnessed thrilling matchups involving all top 25 teams from the preseason AP Poll. The headline event saw Colorado causing a major upset by defeating No. 17 TCU in Deion Sanders' debut as the Buffaloes' head coach. Scores, statistics, and TV information for all the top 25 games during Week 1 are detailed below. Additionally, we'll recap the preseason rankings to provide context for these exciting developments.

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Tesla’s continued legal troubles; US commits to EV advancement; and China EVs shine in August.

Investing.com — After Friday’s jobs report cemented expectations that the Federal Reserve will keep interest rates on hold later this month, the economic calendar will be lighter in the coming holiday-shortened week. Stocks go into September after notching up strong weekly gains last week, while data out of China will likely add to concerns over the outlook for the world’s number two economy. The Reserve Bank of Australia will likely stand pat for a third straight meeting and supply worries look set to underpin oil prices.

In the current week, IPOs of three companies including Ratnaveer Precision Engineering, Jupiter Life Line Hospitals, and EMS Ltd, will open for subscription.Ratnaveer Precision Engineering IPO, which opens on September 4 and closes on September 6, comprises a fresh equity issue of 1.38 crore shares and an offer for sale (OFS) of 30.4 lakh shares. The total mop-up through the issue will be Rs 165 crore. The company is a stainless steel product manufacturer focused on producing finished sheets, washers, solar roofing hooks, pipes, and tubes.

Sensex and Nifty50 ended the week on a high, with metals, realty, and auto stocks outperforming others. Amid a host of important domestic and global events lined up for this week, here's what lies ahead for the stock markets. «Domestic equities cheered impressive growth in India's Q1 GDP and core sector output. Nifty opened positive on Friday and strengthened during the day to close near the day’s high.

Narendra Modi will visit Indonesia's capital Jakarta on September 6 and 7 to attend the ASEAN-India and East Asia summits, said the Ministry of External Affairs in an official statement on Saturday. Shoring up India's trade and security ties with the 10-nation Association of Southeast Asian Nations (ASEAN) is likely to be the focus of Modi's engagement with leaders of the bloc, according to PTI reports.

₹6.06 lakh crore widened to 33.9 per cent on year and the eight core sectors posted a growth of 8 per cent in July which is slightly lower than 8.2 per cent posted in June. On the macro front, some of the key factors that will be in focus in the coming days are India’s S&P global services PMI, forex reserves data, Euro zone S&P global composite PMI, UK Services PMI, Euro Zone Q2 GDP, US factory orders, S&P global US services PMI, crude oil prices, foreign and domestic investors' activities will drive the market, according to analysts. In the coming week, four initial public offerings (IPO) await the bourses among main board and small-and-medium enterprises (SME) segment.

IPOs Next Week: The primary market witnessed some major listings in both main board and small- and medium-sized enterprise (SME) segments last month, which kept investors engaged with subscriptions and listings. Moving on, the upcoming week opens the market buzz for September, which is similarly packed with new listings and initial public offering (IPO) issues, that are available for subscription.

In under a minute, Financial Post Reporter, Bianca Bharti, shares your top stories in finance this week. To read more, click on the links below.

Dividend Stocks: Shares of several companies including IRCON International Ltd, RITES Ltd, Max Healthcare, Macrotech Developers among many others will trade ex-dividend in the coming week, starting from Monday, September 4. The ex-dividend date is the day on which the equity share price adjusts to reflect the next dividend payout. It is the day the stock becomes ex-dividend, which means it does not carry the value of its next dividend payment from that day forward.

External Affairs Ministry said on Saturday.PM Modi will be in Jakarta at the invitation of the President of Indonesia, Joko Widodo. The Prime Minister's visit to Indonesia comes ahead of the G20 Summit to be held in New Delhi on September 9-10 under India's Presidency this year. Indonesia is part of the G20 'troika' as it had the presidency of the grouping last year. The forthcoming ASEAN-India Summit will be the first Summit since the elevation of ties between India and the Association of South East Asian Nations bloc of countries to a Comprehensive Strategic Partnership in 2022. The foreign ministry said that the the Summit will review the progress of India-ASEAN relations and chart the future direction of cooperation. According to a statement, the East Asia Summit would provide an opportunity for leaders of ASEAN countries and its eight dialogue partners, including India, to exchange views on issues of regional and global significance. In August, ASEAN-India Economic Ministers met in Indonesia and the main agenda of this year's meeting was the timely review of the ASEAN-India Trade in Goods Agreement (AITIGA) which was signed in 2009. A joint committee agreed to a regular, quarterly schedule of negotiations, which would conclude the review of the ASEAN-India FTA in 2025. In 2018, Prime Minister Narendra Modi visited Jakarta at the invitation of Indonesian President Widodo.

Ratnaveer Precision Engineering Limited IPO: The initial public offering (IPO) of Ratnaveer Precision Engineering Limited is going to hit primary markets on 4th September 2023, which means the book build issue will open for subscription on Monday next week. The public issue will remain open for bidders till 6th September 2023 i.e. till Wednesday next week.