In their latest assessment, the brokerage firm has revised its target price for RIL stock, setting it at Rs 4,495 in the optimistic scenario and Rs 3,400 in the conservative scenario. This adjustment suggests a potential return of 17 percent based on the closing price recorded on March 26. Reliance Industries witnessed a notable surge … Read more
Gold prices saw an upward trajectory on Tuesday, supported by a weaker U.S. dollar, as market participants eagerly awaited the release of key inflation data later in the week. Spot gold surged by 0.5% to reach $2,182.77 per ounce by 09:58 a.m. EDT (1358 GMT), after experiencing an earlier peak of 1.3% during the session. … Read more
On March 26, Angel One announced the initiation of a Qualified Institutional Placement (QIP) issue, setting the floor price at Rs 2,555 per share, representing a discount of nearly 7 percent from the prevailing market price. In response to this development, Angel One’s shares exhibited positive momentum, closing 3.36 percent higher at Rs 2,750 apiece … Read more
In a recent interview with Bloomberg, former Reserve Bank of India (RBI) governor Raghuram Rajan offered a nuanced perspective on India’s economic landscape, urging caution against unwarranted optimism surrounding its growth trajectory. Rajan emphasized the need to confront the reality of major structural impediments hindering India’s progress, rather than being swayed by exaggerated perceptions of … Read more
On March 26, sources disclosed to CNBC-TV18 that Standard Chartered Bank’s corporate banking arm is in the process of planning a significant divestment move, aiming to offload its entire 7.18% stake in Central Depository Services (India) Ltd (CDSL) for an estimated $151 million through a block deal. This proposed transaction, poised to shake up the … Read more
In a groundbreaking revelation, Mumbai, India’s bustling financial hub, has ascended to the esteemed position of Asia’s foremost billionaire haven, outpacing Beijing, as unveiled by the Hurun Research Institute in its latest Hurun Global Rich List 2024. According to the comprehensive report, New York and London maintain their supremacy as the leading global cities for … Read more
The Reserve Bank of India (RBI) released a statement on Tuesday, indicating a noteworthy development in India’s economic landscape. According to the RBI, India’s current account deficit (CAD) has experienced a significant decline, amounting to USD 10.5 billion or 1.2 percent of the Gross Domestic Product (GDP) during the October-December quarter. This represents a notable … Read more
Tata Investment Corporation experienced a significant downturn in its financial performance, with its share price plummeting by 5% in the wake of a remarkable 43% decline observed over the preceding two weeks. Notably, Tata Investment stock encountered its tenth instance of hitting the 5% lower circuit within the past 11 trading sessions, underscoring the ongoing … Read more
In today’s stock market update, Zomato’s shares continue their upward trajectory over the past year, marking a significant turnaround from their low point of ₹50 per share approximately one year ago. This surge has positioned Zomato as a favorable option for investors looking to buy during dips in the market. On March 26, Zomato’s share … Read more
In a recent report released by Hurun India on Tuesday, it was revealed that a significant influx of 94 new Indian individuals has made their mark on the global billionaires list. This surge in new entrants, coupled with a net addition of 84 billionaires, has propelled India’s billionaire count to a remarkable 271, collectively amassing … Read more
Renowned economist and Member of the Prime Minister’s Economic Advisory Council (EAC-PM), Sanjeev Sanyal, has sparked a heated debate on social media with his recent remarks criticizing the UPSC exam process. According to Sanyal, the UPSC exam, which sees a vast number of aspirants, may be deemed a futile endeavor for many, considering that less … Read more
On March 26, SpiceJet, a prominent player in the low-cost airline sector, announced a significant settlement with Export Development Canada (EDC), triggering a notable surge in its share price on the Bombay Stock Exchange (BSE). This deal, hailed as the ‘biggest breakthrough in SpiceJet’s financial restructuring efforts’, is poised to yield substantial savings, estimated at … Read more
Following the Reserve Bank of India’s (RBI) announcement of a special audit for both JM Financial and IIFL Finance, the stock prices of these financial entities took a significant hit. JM Financial witnessed a drop of approximately 4%, while IIFL Finance plunged by 5.5%. As of 12:40 pm, JM Financial was trading at Rs 72 … Read more
On March 26, Dr Lal PathLabs experienced a substantial surge of over 5%, propelled by a noteworthy “double” upgrade from Kotak Institutional Equities. Kotak’s decision to elevate the stock’s rating from “sell” to “add,” alongside a significant revision in fair value (FV) from Rs 1,975 to Rs 2,360, underscores a newfound optimism rooted in heightened … Read more
RailTel Corporation of India’s shares demonstrated a promising start on March 26, gaining 2% in the opening trade session, propelled by the news of the company securing a significant work order valued at Rs 36.35 crore. At 09:25 am, on the Bombay Stock Exchange (BSE), RailTel Corporation was trading at Rs 779.60, reflecting a notable … Read more
InterGlobe Aviation, the parent company of leading low-cost carrier IndiGo, witnessed an impressive ascent on March 26, with its stock rallying over 4.3% to hit a historic peak of Rs 3,429.90 in morning trading. This surge was fueled by a wave of bullish growth forecasts from various brokerages, issued in the wake of an analysts’ … Read more
Rategain has announced a groundbreaking collaboration aimed at equipping airlines with cutting-edge AI tools, empowering them to efficiently navigate market trends and swiftly adapt to pricing fluctuations. Rategain Travel Technologies experienced a substantial surge of over 3% during the morning trading session on March 26, following the exciting announcement of a strategic partnership with Summerwind … Read more
Adani Ports and Special Economic Zone (APSEZ), India’s leading private port operator, revealed its ambitious plans on Tuesday to solidify its presence along the eastern coastline of the nation through the acquisition of a significant 95% stake in Odisha’s Gopalpur Port. The proposed transaction, valued at ₹1,349 crore ($161.74) in equity terms, carries an enterprise … Read more
Stock traders opted to cash in some gains as the week commenced, with all eyes on forthcoming economic data, including the Federal Reserve’s preferred gauge of inflation—though markets are set to be closed on the same day. The suite of probes announced Monday are the first under the EU’s Digital Markets Act law, which took … Read more
The European Union has embarked on a series of investigations into tech giants Apple, Meta Platforms, and Google parent Alphabet under its newly implemented Digital Markets Act, ushering in heightened regulatory scrutiny for these major U.S. technology corporations on a global scale. Unveiled on Monday, these probes signify the initial actions taken under the EU’s … Read more