ITC’s stock price has undergone a correction of approximately 20% from its peak, catching the attention of prominent brokerages who see this as an opportune moment for investors to enter the market. This correction was spurred by the news of British American Tobacco’s stake sale, prompting analysis from HSBC, which emphasized the attractive valuation of … Read more
Investors were left disappointed as JG Chemicals made its market debut at a 5.4 percent discount from the issue price of Rs 221 on March 13. This listing fell short of analysts’ expectations, who had anticipated a premium of 12 percent. JG Chemicals’ initial public offering (IPO) amounted to Rs 251 crore and garnered substantial … Read more
In the morning trade on March 13, shares of Muthoot Capital Services Limited saw a 3 percent uptick following the company’s revelation of a strategic partnership with evfin, an EV-focused lending platform, aimed at facilitating financing for electric two-wheelers. According to a regulatory filing, Muthoot Capital highlighted the substantial magnitude of the collaboration, with a … Read more
The trading day opened with Vedanta’s shares slipping by almost one percent on March 13, following a directive from SEBI regarding payment to Cairn UK Holdings Limited (CUHL). SEBI instructed Vedanta to disburse Rs 77.62 crore to CUHL along with a simple interest of 18 percent per annum, citing delays in dividend payment. As of … Read more
According to the recent findings of the ManpowerGroup Employment Outlook Survey, there’s been a notable deceleration in global hiring activities, with a net employment outlook of 22% projected for the second quarter of 2024. This downward trend underscores the prevailing cautious sentiment among employers, who are navigating through economic and geopolitical uncertainties with prudence. Jonas … Read more
As the financial year 2023-24 draws to a close, individuals and businesses are gearing up to optimize their tax planning strategies before the deadline. With March being the final month to make tax-saving investments and adjustments, it’s crucial to adopt the right approach to minimize tax liabilities while maximizing savings. This article outlines a comprehensive … Read more
The latest data from the Labor Department’s Bureau of Labor Statistics indicates a notable increase in inflation for February, reinforcing the Federal Reserve’s stance to postpone any interest rate adjustments until at least the summer. Consumer prices, as measured by the consumer price index (CPI), surged by 0.4% during the month, with a year-over-year increase … Read more
According to sources familiar with the matter, Vishal Mega Mart, a leading budget supermarket chain in India, is gearing up for a $1 billion initial public offering (IPO). This move is expected to value the company at up to $5 billion, with a portion of the proceeds intended for expanding its store network. Partners Group … Read more
R K Swamy shares had a lackluster debut on March 12, closing nearly 9% lower amidst market volatility. This performance fell short of analysts’ expectations, who had anticipated a flat debut despite strong subscription numbers during the IPO. Opening 13.2% lower on the National Stock Exchange (NSE) at Rs 250 compared to the issue price … Read more
According to the latest Reserve Bank of India (RBI) annual report, RBL Bank experienced the highest average of 6.52 complaints per branch during the fiscal year 2022-23 among scheduled commercial banks, indicating a concerning trend in customer grievances directed towards the bank. Released on March 11, the report highlighted a significant total of 3,486 complaints … Read more
Despite ongoing controversy surrounding the Zomato CEO’s acquisition of the new Aston Martin DB12, HSBC remains steadfast in its ‘Buy’ recommendation for Zomato stock. In its recent report on Zomato, HSBC presents an optimistic outlook for the company, making key adjustments to order growth rates and revenue projections. The report introduces a revised target price … Read more
Byju’s has issued a directive for all employees to transition to remote work arrangements with immediate effect, resulting in the vacating of all office spaces except for its headquarters located at IBC, Knowledge Park in Bengaluru. While employees based at the Bengaluru headquarters and 300 Byju’s tuition centers will continue their operations from these physical … Read more
FMCG powerhouse ITC is once again making waves in the investment landscape, with Prabhudas Lilladher advocating for a buy recommendation at a target price of Rs 465 per share. This forecast promises an attractive potential return of more than 16% compared to ITC’s current market value. Despite its stellar performance in 2023, ITC recently experienced … Read more
In a day marked by considerable volatility on March 12, India’s key stock market indices closed with a mixed performance. The BSE Sensex saw a modest rise of 165.32 points, or 0.22 percent, closing at 73,667.96, while the Nifty edged up by three points, or 0.01 percent, settling at 22,335.70. Investors remained vigilant ahead of … Read more
On March 12, Solar Industries India witnessed a robust 3.6 percent surge in its shares, driven by analysts at ICICI Securities reiterating their “buy” recommendation for the stock while revising the target price to Rs 9,050 per share. This adjustment suggests a potential upside of 13 percent from the current trading level. Amidst a challenging … Read more
The Nifty Bank index experienced a notable decline around 11 am on March 12, after initially opening flat. The banking index exhibited significant volatility throughout the morning session, initially surging by nearly 500 points before eventually surrendering the gains to trade 0.3% lower at 47,210 points. During this intraday movement, most banking stocks faced downward … Read more
InterGlobe Aviation, the parent company of IndiGo, saw its shares rise by 5% to Rs 3,262 on the morning of March 12, marking a second consecutive day of gains. This uptick followed news of Morgan Stanley Asia purchasing a 0.5% stake in India’s largest airline, equivalent to 21 lakh shares. Additionally, Rakesh Gangwal, co-founder of … Read more
On March 12, SpiceJet witnessed a sharp decline of 9.7% in its share price to Rs 54.6 per share following reports of the resignation of Chief Operating Officer (COO) Arun Kashyap and Chief Commercial Officer (CCO) Shilpa Bhatia. In response to these developments, SpiceJet’s management stated that the resignations are part of the company’s strategic … Read more
Bharat Highways InvIT made its debut on the stock exchanges with a subdued performance as the units were listed at ₹101 apiece on the BSE, marking a 1% premium over the issue price of ₹100 per unit. On the NSE, the listing price was ₹101.1 per unit, reflecting a 1.1% premium to the IPO price. … Read more
On March 12, shares of R K Swamy made a lackluster debut on the bourses, opening at Rs 250, marking a discount of 13.1 percent from the issue price of Rs 288. This listing fell short of analyst expectations, who had anticipated the shares to debut at Rs 300-310, representing a premium of approximately 5 … Read more