Nifty 50 experienced a drop of 116.85 points or 0.52%, settling at 22,239.45 as of 12.17 pm on Wednesday. Meanwhile, the BSE Sensex witnessed a decline of 289.53 points or 0.39%, trading at 73,387.60. In the stock market, sectoral indices such as financial services, banks, and private banks showed slight gains, while all other indices … Read more
In a notable move, Nikhil Kamath and Nithin Kamath have secured a substantial 11,46,590 shares in a burgeoning gaming stock through a preferential issue, while the seasoned Jhunjhunwala family maintains a commanding ownership of 65,88,620 shares! Adding to this development, Nazara Technologies Ltd recently greenlit the allotment of 28,66,474 fully paid-up equity shares, priced at … Read more
The highly anticipated IPO listing of Mukka Proteins has been officially scheduled for Thursday, March 7th. Following the finalization of the IPO allotment, today, Wednesday, March 6th, marks the commencement of the share crediting process to demat accounts for the fortunate recipients. Simultaneously, for those investors who were not allocated shares, the refund process will … Read more
SEBI expresses apprehension regarding algo developers enticing unsuspecting traders with unrealistic returns while evading SEBI regulations governing registered investment advisors (RIA) as mandated. The issue of misselling also poses a significant challenge. In a recent development, market regulator SEBI proposed that brokers should grant access to open Application Programming Interfaces (APIs) to retail clients only … Read more
A report jointly conducted by Bain & Company and HeathQuad projects that India’s healthcare innovation market could see a twofold increase, reaching $60 billion by fiscal year 2028. In FY23, the overall Indian healthcare market stood at approximately $180 billion, with healthcare innovation contributing $30 billion, equivalent to 15% of the market. While pharma services … Read more
In a move to expand customer options and flexibility in credit card issuance, the Reserve Bank of India (RBI) has introduced guidelines for card networks. According to the RBI’s directives, authorized card networks collaborate with both banking and non-banking entities to issue credit cards. The selection of the card network for a customer’s card is … Read more
The shares of JM Financial took a nosedive of 19 percent on March 6, reacting to the Reserve Bank of India’s (RBI) imposition of restrictions on the company’s loan disbursements. The regulatory intervention on March 5 led to the immediate cessation of JM Financial Products Ltd (JMFPL) from providing loans against shares and debentures, including … Read more
Today, on Wednesday, March 6, Gopal Snacks IPO commences its subscription period, which will extend until Monday, March 11. The Rajkot-based company has successfully garnered ₹193.94 crores from anchor investors. Notably, on Tuesday, March 5, the company disclosed to the bourses that it allocated 48,36,657 equity shares to anchor investors at a price of ₹401 … Read more
Following a widespread outage affecting Facebook and Instagram, Meta CEO Mark Zuckerberg saw his net worth decrease by nearly $3 billion in just one day. Summary: Meta CEO Mark Zuckerberg experienced a significant loss of nearly $3 billion in a single day following a global outage affecting the company’s flagship platforms, Facebook and Instagram. Zuckerberg’s … Read more
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, views the decision to incorporate Indian bonds into the Bloomberg Emerging Market Index as a vote of confidence in the Indian economy. This move follows JP Morgan’s recent decision to include India in its Emerging Market Bond Index. Vijayakumar predicts that India’s inclusion in the … Read more
In the second consecutive trading session, shares of IIFL Finance experienced a drastic 20 percent decline after the Reserve Bank of India (RBI) imposed a ban on the company from issuing gold loans. By 9:41 am, the stock was locked in the lower circuit at Rs 382.20 on the National Stock Exchange (NSE), marking its … Read more
On March 6, Mahanagar Gas Ltd witnessed a sharp decline of over 13% in its share price. This downturn followed a decision by brokerage firm Citi to downgrade the stock from ‘Buy’ to ‘Sell’ and reduce its target price. By 10 am, Mahanagar Gas Ltd’s stock was trading at Rs 1,363 on the BSE, marking … Read more
Torrent Pharma’s Share Price Peaks at 52-Week High of Rs 2,745.55 on March 6 Following Successful US FDA Inspection. At 09:38 am, Torrent Pharmaceuticals’ stock was trading at Rs 2,700.00 on the BSE, marking an increase of Rs 37.80 or 1.42 percent. The US Food and Drug Administration (USFDA) has issued an establishment inspection report … Read more
In early trading on March 6, Zomato shares experienced a 4 percent decline following a substantial block deal worth Rs 3,112 crore, involving approximately 19 crore shares, representing a 2.1 percent stake in the food aggregator. The transaction occurred at an average price of Rs 160 per share, reflecting a 3.5 percent discount compared to … Read more
Navigating tax planning can often feel like a daunting task, especially if it’s viewed in isolation from your overall financial strategy. However, understanding common pitfalls and planning early can help you avoid costly mistakes. With the deadline for tax-saving investments for the financial year 2023-24 fast approaching on March 31, now is the ideal time … Read more
IREDA, a non-banking financial company specializing in power financing, saw its shares continue their downward trend, dropping by 4.15% to reach ₹146.55 per share during today’s intraday trading session. This decline follows a 5% decrease in the previous session. After hitting a record peak, the stock has entered a consistent downward trajectory, continually establishing new … Read more
Mumbai-based investment banking firm Spark PWM Pvt. has projected that Tata Sons Ltd. could attain a valuation of up to 8 trillion rupees ($96 billion) in its anticipated initial public offering (IPO), potentially scheduled to occur within the next 18 months. Tata Sons, a prominent Indian conglomerate with stakes in leading companies such as Tata … Read more
On March 5, the benchmark Sensex and Nifty 50 indices opened trading on a downward trend, influenced by subdued global cues. Nonetheless, analysts maintain their confidence in the market’s direction, stating that the trend remains unaffected as long as the Nifty sustains the 22,000-mark. In early trade, both the Sensex and Nifty shed 0.2 percent … Read more
On Monday, Karnataka Minister MB Patil revealed the state’s ambitious goal to achieve a USD one trillion economy by 2032, aiming for sustained growth at a rate of 18 percent. Karnataka’s Large and Medium Industries Minister MB Patil declared on Monday the state’s objective of reaching a USD one trillion economy by 2032, targeting a … Read more
