Tag: mm

L&T hits record high on hopes of strong order inflows

L&T hits record high on hopes of strong order inflows
Tuesday, January 17, 2023
Shares of Larsen & Toubro (L&T) soared 4 percent to hit a new high of Rs 2,214 in Tuesday’s intra-day trade, on the expectation of strong order inflows and improved execution.L&T Construction's buildings & factories (B&F) fast business has received a significant repeat order from a reputable and prestigious commercial developer, one of India's largest mixed-use developers and operators. The order is ‘significant’, classified by the company as those in the range of ₹1,000-2,500 crore. The mandate is to build two commercial office towers in Hyderabad with approximate built-up areas of 28.91 lakh square feet and 28.53 lakh square feet, respectively. The engineering and construction major will be responsible for the civil work on the towers, one of which will have 22 floors and the other 41 floors. The construction is scheduled to be completed in 18 months, it said. Read more

L&T Technology Services declines 5% on plans to buy SWC biz from parent L&T

L&T Technology Services declines 5% on plans to buy SWC biz from parent L&T
Friday, January 13, 2023
Shares of L&T Technologies Services (LTTS) dipped 5.5 percent to Rs 3,441 on the BSE in Friday’s intra-day trade after the company informed the stock exchanges that it agreed to acquire the Smart World & Communications business (SWC) of its parent company Larsen & Toubro (L&T) which was founded in 2016 to cater to the demands in smart cities, smart utilities, and digital infrastructure. by way of a slump sale for a consideration of Rs 800 crore. The acquisition will be completed in three months, subject to satisfaction of conditions precedent identified under the agreement. According to LTTS, SWC business generated Rs 1,098 crore in annual revenue for FY 2021-22. SWC is an intelligence solution provider operating in three segments – communications, safe and smart solutions, and cybersecurity. With the acquisition, LTTS plans to combine synergies and take offerings in next-gen communications, sustainable spaces, and cybersecurity to the global market. Read more

Mahindra Finance touchs 52 week high on healthy disbursements in Nov

Mahindra Finance touchs 52 week high on healthy disbursements in Nov
Monday, December 5, 2022
Mahindra & Mahindra (M&M) Financial Services' share price touched a fresh 52-week high of Rs 243.60 apiece, after surging by around 6.5 percent on the BSE intraday during Monday’s trading session after the company announced it recorded a disbursement of approximately Rs 4,500 crore in November 2022, delivering a 75 percent year on year (YoY) growth, on the backdrop of positive macro environment. The stock of M&M Group’s financial arm breached its earlier high of Rs 235, hit on September 15, 2022. The financial company's year-to-date (YTD) disbursement stood at approximately Rs 31,050 crore, registering a YoY growth of 99 percent. Healthy disbursement trends have led to a strong gross asset book of approximately Rs 76,300 crore, growing around 3.4 percent over September 2022. . This has resulted in a growth of 17.5% versus March 2022. Read more

Stock market holiday: Trading at BSE, NSE closed today

Stock market holiday: Trading at BSE, NSE closed today
Tuesday, November 8, 2022
The Indian stock market is closed today(8 November 2022) on the account of Guru Nanak Jayanti, therefore, there will be no trading activity today. As per the information available on the official BSE website, trading on BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) will remain closed for the entire session on Tuesday i.e. November 8, 2022. In the Commodity segment, trading at Multi Commodity Exchange (MCX) will remain closed in the first half whereas it will take place in the second half from 5 pm (evening session) on November 8, 2022. November 8, 2022, is the last trading holiday of this year on Dalal Street, being the sixteenth market holiday of this year. Meanwhile, trading on the stock exchanges BSE and NSE will resume on Wednesday, November 9, 2022, as per its usual timings.

M&M Finance tanks 14% after RBI orders to stop using third party recovery agents

M&M Finance tanks 14% after RBI orders to stop using third party recovery agents
Friday, September 23, 2022
Shares of Mahindra & Mahindra (M&M) Financial Services tanked 14 percent to Rs 192.05 in Friday’s intra-day trade, after the Reserve Bank of India (RBI) directed the company to immediately cease any recovery or repossession activities via an outsource till further orders. In its order, the RBI also mentioned that the non-banking finance company may continue with recovery or repossession activities through its own employees. The directive comes days after external loan recovery agents of Mahindra Finance allegedly crushed a 27-year-old pregnant woman in Hazaribagh district in Jharkhand to death under a tractor. The agent was forcibly taking the vehicle away, financed by the company, for non-payment of dues, a senior police official had told PTI."This action is based on certain material supervisory concerns observed in the said NBFC, with regard to the management of its outsourcing activities," RBI said in a statement. Read more

Droupadi Murmu becomes India's first tribal President

Droupadi Murmu becomes India's first tribal President
Friday, July 22, 2022
Droupadi Murmu (64) made history by becoming India’s first tribal president. Fielded by the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA), Murmu got more than 64 percent of the votes cast, and at least 20 opposition votes, winning the election by a massive margin, defeating common opposition candidate Yashwant Sinha (84) and winning voters in the electoral college with her charm, simplicity and determined conviction protect tribal identity. Tribal chiefs from all over the country are planning to troop into Delhi to felicitate the new president when she takes oath on July 25, putting on display a new, different, iridescent India. Read more

Govt to auction 5G spectrum (total of 72097.85 MHz ) for 20 years

Govt to auction 5G spectrum (total of 72097.85 MHz ) for 20 years
Wednesday, June 15, 2022
The Union Cabinet yesterday (14 June 2022) cleared the auction for 5G airwaves paving the way for the auction and commercial launch of next-generation telecom services this year. The cabinet in its meeting on Tuesday approved the Department of Telecom's proposal for the auction of 72 GHz of spectrum for a 20-year-period. It also decided to “enable the development and setting up of private captive networks to spur a new wave of innovations in industry 4.0 applications". “A total of 72097.85 MHz of spectrum with a validity period of 20 years will be put to auction to be held by the end of July 2022. The auction will be held for spectrum in various bands (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), Mid (3300 MHz), and High (26 GHz) frequency bands,” the government said in a press release today (15 June 2022). Read more

MARKET UPDATE:Sensex fell 700 points to 55,544, while Nifty at 16,634, lower by 159 points

MARKET UPDATE:Sensex fell 700 points to 55,544, while Nifty at 16,634, lower by 159 points
Wednesday, March 2, 2022
The Indian key benchmark indices opened gap-down today(2nd March 2022) snapping their two-day previous gains as global market sentiment soured amid soaring oil and commodity prices. The BSE Sensex fell 700 points to 55,544, while the NSE Nifty was at 16,634, lower by 159 points. Among the Sensex-30 constituents, Tata Steel, PowerGrid, NTPC, Tech M, M&M, Reliance were the top gainers, up 0.3-3 percent. ICICI Bank, Maruti, Asian Paints, HDFC twins, Kotak Bank, Ultractech Cement, IndusInd Bank, and Axis Bank, meanwhile, were the top drags, trading 1.4-3 percent lower. On the Nifty, Coal India, ONGC, Hindalco, Tata Steel were the top performers, trading 3-4 percent higher, while Bajaj Auto was the additional top laggard on the index, down 4 percent. Read more

Markets and war: Will Sharp recovery follow a steep fall?

Markets and war: Will Sharp recovery follow a steep fall?
Monday, February 28, 2022
For the global equity markets, it was a very tough time over the past few weeks as they have battled several headwinds, including the recent geopolitical conflict between Russia and Ukraine that has also triggered a sharp rise in commodity prices. Market experts say the market fall was a knee-jerk reaction to the Russia – Ukraine conflict and are likely to witness a choppy phase before discounting this development and staging a sharp rebound. Over time, equity markets have generally overreacted near the geopolitical risks. Read more

The good and bad of Budget 2022 for investors, companies & common man

The good and bad of Budget 2022 for investors, companies & common man
Wednesday, February 2, 2022
The Union Budget 2022 is a mixed bag for India's investors, companies, and the common man. Some measures introduced in the Budget would make for good news to them, while some of them can be seen as coming pain points for these sections. Budget 2022 made no change to the existing income tax structure, leaving the common man and some other sections disappointed. There, however, were steps that could turn out to be a major boost for the economy as a whole, going forward. In a budget without any remarkable good news for the individual, the announcement of the upcoming central bank digital currency (CBDC) garnered some attention from Investors. Also, this financial year, a surcharge on long-term capital gains (LTCG) will be capped at 15 percent, a rule that will be applicable to all assets. Until now, it applied only to listed equity shares and units of the equity-oriented fund. Read more

As Zomato, Nykaa, MapMyIndia tank up to 20% BSE IPO index plunges 8%

As Zomato, Nykaa, MapMyIndia tank up to 20% BSE IPO index plunges 8%
Monday, January 24, 2022
As the recently listed stocks were hammered today(24 January 2022) amid a heavy sell-off in the markets the S&P BSE IPO index plunged 8 percent. The stock markets were under selling pressure for the fifth straight trading session owing to weak global cues on rising concerns about inflationary pressures, surging coronavirus cases, and prospects of interest rate hikes. Zomato, FSN E-Commerce Ventures (Nykaa), C E Info Systems (MapmyIndia), and PB Fintech, the parent company of Policybazaar were down up to 20 percent in intra-day trade so far. All these stocks hit their respective all-time lows since their listing on the stock market. Latent View Analytics, Go Fashion (India), Chemplast Sanmar, Macrotech Developers (Lodha), CMS Info Systems, Sona BLW Precision Forgings and Devyani International slipped between 8 per cent and 10 per cent on the BSE. Read more

Will 'Omicron' force RBI to delay policy normalisation?

Will 'Omicron' force RBI to delay policy normalisation?
Thursday, January 6, 2022
Many economists are expecting RBI to delay the policy normalisation move, which is expected in the February review since COVID-19 infections spike in the country resulting in restrictions in various states and impacting the fragile recovery. The country has reported a single-day rise of 58,097 new COVID-19 cases as of Wednesday morning-the highest in around 199 days- of which 2,135 are Omicron cases and later in the day, the first confirmed Omicron-related death has also been reported. The active cases were recorded above 2 lakh after around 81 days and the COVID toll has climbed to 4,82,551 with 534 daily fatalities. Read more

MARKET UPDATE:Sensex opened at 57,853.5 level,down 47.5 points while the Nifty at 17,221 levels, down 27 points

MARKET UPDATE:Sensex opened at 57,853.5 level,down 47.5 points while the Nifty at 17,221 levels, down 27 points
Friday, December 17, 2021
Indian equities started off on a cautious note today(17th Dec.2021) amid the acceleration of bond-buying programmes by various central banks to fight off inflation and suck excess liquidity out of the system. After the US Fed, the European Central Bank, and the Bank of Japan have decided to hasten the asset purchase programmes. That apart, the Bank of England became the first global central bank on Thursday to raise the interest rate by 25 basis points. Against this backdrop, the S&P BSE or 0.08 percent. It's NSE counterpart Nifty50, too, quoted at 17,221 levels, down 27 points in early deals. In the broader markets, the BSE MidCap and SmallCap indices dipped 0.33 percent and 0.1 percent, respectively. Read more

RBI leaves key interest rates unchanged;economy better prepared to deal with Covid, says RBI Governor

RBI leaves key interest rates unchanged;economy better prepared to deal with Covid, says RBI Governor
Wednesday, December 8, 2021
The Reserve Bank of India’s monetary policy committee (MPC) today(8th December 2021) maintained key interest rates for a ninth straight meeting, retaining an accommodative stance amid the threat surrounding the Omicron coronavirus variant. Repo and reverse repo rates remain unchanged at 4 percent and 3.35 percent, respectively, said RBI governor Shaktikanta Das in a statement after a three-day meeting of the committee in Mumbai. The central bank maintained its FY22 GDP forecast at 9.5 percent and projected retail inflation to be at 5.3 percent. "Indian economy hauled itself out of its deepest contraction; we are better prepared to deal with Covid-19,” said the RBI Governor. "Given the slack in the economy and the ongoing catching up of activity, especially of private consumption, which is still below its pre-pandemic levels, continued policy support is warranted for a durable and broad-based recovery," he said. Read more

Whether For FIIs India is becoming less and less attractive?

Whether For FIIs India is becoming less and less attractive?
Tuesday, November 30, 2021
After a world-beating rally, Indian markets are losing their allure to emerging market (EM) peers. The foreign portfolio investors have turned cautious on India. according to some experts, this year’s rally is primarily driven by domestic money and those flows could dry up. Covid-19 impacted the unorganised or the informal economy but the listed space has largely benefited. also in 2020-21, despite the economy shrinking 7.5 percent, the earnings growth for Nifty companies was probably the best in a decade. The recovery from lockdowns has been reasonably good without any big government stimulus. The domestic supplies of vaccines helped and the execution program was stellar. Read more

Paytm shares disappointed IPO investors, lists at 9% discount to its issue price

Paytm shares disappointed IPO investors, lists at 9% discount to its issue price
Thursday, November 18, 2021
The parent company of Paytm, One 97 Communications, disappointed IPO investors as the unicorn's stock got listed today(18th Nov.2021) at Rs 1,950 on NSE, a discount of 9.3 percent over its price of Rs 2,150. At BSE, the stock got listed at Rs 1,955. The mega share sale of Paytm was the largest ever initial stake sale by any domestic company via the primary route. The company raised as much as Rs 18,300 through its IPO. The initial stake sale of One97 Communications was open for subscription between November 8-10. The company sold its shares in the range of Rs 2,080-2,150. Read more

Government and regulatory authorities may consider a legislative and regulatory framework for cryptocurrencies

Government and regulatory authorities may consider a legislative and regulatory framework for cryptocurrencies
Wednesday, November 17, 2021
Finally, it looks like the government and regulatory authorities appear to be getting together with stakeholders to consider a legislative and regulatory framework for cryptocurrencies. These virtual assets have been around for over a decade — the pioneer bitcoin started trading in 2010. There are literally thousands of cryptos. Some have given truly extraordinary returns. Investors see these instruments as potential hedges against currency volatility and inflation. Traders who pay in rupees generate over Rs 50 crore in daily cryptocurrency volumes and Indians actually invest a great deal more in forex-denominated trades. There’s a substantial, active Indian crypto-investment community which multiple sources estimate holds over $15 billion worth of crypto assets. Moreover, the related non-fungible token, or NFT, market is booming and there’s been an advertising blitz tempting Indians to invest in cryptos. Read more

India's Oct WPI accelerates to 5-month high of 12.54%

India's Oct WPI accelerates to 5-month high of 12.54%
Monday, November 15, 2021
Annual wholesale price-based inflation in India accelerated in October to a five-month high, pushed up by increases in fuel and manufacturing prices, fuelling concerns of rising inflationary pressures for firms. The gap between retail and wholesale price-based inflation has widened in recent months as many companies and retailers are still trying to absorb galloping input costs that threaten to hit their bottom lines. Annual wholesale price-based inflation in October rose to 12.54% from the previous month's 10.66%, remaining in double-digits for the seventh month in a row, government data showed on Monday. Consumer prices based on inflation, the main gauge monitored by the monetary policy committee of the Reserve Bank of India, rose 4.48% in October from the same month last year, speeding up from September's 4.35%, separate data released on Friday showed. Read more

FSN E-commerce Ventures (Nykaa) listed at Rs 2,018 on the NSE, a premium of 78 per cent over its issue price

FSN E-commerce Ventures (Nykaa) listed at Rs 2,018 on the NSE, a premium of 78 per cent over its issue price
Wednesday, November 10, 2021
Shares of FSN E-commerce Ventures (parent company of Nykaa) made a stellar debut on the bourses today (10-11-2021). Its scrip was listed at Rs 2,018 on the NSE, a premium of 78 percent over its issue price of Rs 1,125. Similarly, it marked its debut at Rs 2,001 on the BSE, a premium of 77 percent. The listing of Nykaa was pushed a day earlier to Wednesday. The company was earlier scheduled to list on Thursday. According to analysts investors should not think of making any fresh investment in the company at this point in time. "Investors should book partial profits in the company after this robust listing. One can book 50-75 percent of holdings and keep the remaining portion for a longer-term," they said. Nykaa IPO was open for subscription from October 28-November 1, 2021. The company raised Rs 5,352 crore from its primary stake sale. Read more

Paytm, 2 other public issues to open next week

Paytm, 2 other public issues to open next week
Friday, November 5, 2021
With three firms- One97 Communications, owner of Paytm; Sapphire Foods India, which operates KFC and Pizza Hut outlets; and Latent View Analytics set to launch their initial share-sales to collectively mop up about Rs 21,000 crore, the hectic fundraising through IPOs will continue next week. This comes after five companies successfully concluded their public offerings (IPOs) this week. The three-day IPOs of Paytm, Sapphire Foods India, and Latent View Analytics are scheduled to open on November 8, November 9, and November 10, respectively. So far in 2021, as many as 46 companies have floated their IPOs to raise Rs 80,102 crore and market experts believe that the year should close with the Rs 1-lakh crore primary market fundraising. Read more

Closing Bell: Sensex lost 207 points and closed at 61,143 while Nifty ended 57 points lower at 18,211

Closing Bell: Sensex lost 207 points and closed at 61,143 while Nifty ended 57 points lower at 18,211
Wednesday, October 27, 2021
In today's trading, the key benchmark indices ended in red as select financial shares extended losses at close. The BSE Sensex had touched a high of 61,577 in morning deals but slipped to a low of 60,989 at the fag end of the day. The Sensex finally ended with a loss of 207 points at 61,143. The NSE Nifty from a high of 18,342, slipped to a low of 18,168, and eventually ended 57 points lower at 18,211. India VIX was up 0.8 percent at 16.88. The broader indices also trimmed gains towards the end. The BSE Midcap index ended a wee bit in green at 25,591 as against the day's high of 25,757. The Smallcap index settled at 28,534, up 0.3 percent as against the day's high of 28,696. The overall breadth was marginally positive, with 1,780 advancing shares as against 1,466 declining stocks on the BSE. Read more

MARKET UPDATE:Sensex drops 100 points, Nifty at 17,875

MARKET UPDATE:Sensex drops 100 points, Nifty at 17,875
Monday, October 11, 2021
The renewed strength in the equity market, which got a boost from the Reserve Bank of India (RBI) persisting with its accommodative monetary policy on Friday,8th October, could push the Nifty past the 18,000-mark in the days ahead. While investors will shift focus to September quarter earnings season starting this week, analysts warn that disappointments could take the wind out of their sails as stronger profits are seen as imperative to justify elevated share valuations. On 8th October (Friday), the Sensex reclaimed the 60,000 and the Nifty ended 0.6% shy of 18,000,though the market gave up a portion of early gains sparked by the Indian central bank's continued monetary support. Both indices had gained 2% last week, shrugging off global concerns over the likelihood of persistent high inflation, which is putting upward pressure on US bond yields.

Meesho raises $570 mn and its valuation doubles to $4.9 bn

Meesho raises $570 mn and its valuation doubles to $4.9 bn
Thursday, September 30, 2021
Social commerce startup Meesho today(30th Sept.2021) said that it has raised $570 million led by Fidelity Management & Research Company and B Capital Group, a venture capital firm co-founded by Facebook co-founder Eduardo Saverin. Existing investors Prosus Ventures, SoftBank Vision Fund 2, and Facebook also participated in this round. Other new investors include Footpath Ventures, Trifecta Capital and Good Capital, and others. Following the rise, the company’s valuation has more than doubled to $4.9 billion in less than five months. Meesho aims to reach 100 million monthly transacting users by December 2022. It expects to utilise the fresh round of funding to grow its technology and product talent by 2.5x, increase its roster to over 50 million products, and become the platform of choice for customers, entrepreneurs, and sellers from all corners of India. Read more

PM Modi arrived in US to attend Quad leaders' summit, address UNGA

PM Modi arrived in US to attend Quad leaders' summit, address UNGA
Thursday, September 23, 2021
Prime Minister Narendra Modi arrived in Washington on Wednesday (22nd Sept.2021) on an official visit to the US. During the visit, he will hold the first face-to-face meeting with President Joe Biden and his deputy Kamala Harris, attend the maiden in-person Quad summit and address the 76th session of the UN General Assembly in New York. Modi, who is visiting the US for the 7th time after assuming office in 2014, said his visit would be an occasion to strengthen the Indo-US Comprehensive Global Strategic Partnership and consolidate ties with Japan and Australia. "Landed in Washington DC. Over the next two days, will be meeting @POTUS @JoeBiden and @VP @KamalaHarris, Prime Ministers @ScottMorrisonMP, and @sugawitter. Will attend the Quad meeting and would also interact with leading CEOs to highlight economic opportunities in India," Modi tweeted. Read more

RBI deputy governor sees FY22 inflation at 5.7% or lower

RBI deputy governor sees FY22 inflation at 5.7% or lower
Thursday, September 16, 2021
The retail inflation fell to 5.3% in August and stayed within the Reserve Bank of India’s target range for two successive months. This could lead the RBI to revise the inflation projection for the current financial year. In the August review of monetary policy, RBI revised its inflation projection for the current financial year upward to 5.7% from 5.1% projected in the June policy review. Read more

FRL-RIL deal: SC asks NCLT, CCI, Sebi not to pass final orders for 4 weeks

FRL-RIL deal: SC asks NCLT, CCI, Sebi not to pass final orders for 4 weeks
Thursday, September 9, 2021
Today (9th Sept.2021) The Supreme Court of India stayed all the proceedings before the Delhi High Court for four weeks related to the implementation of an award by Singapore's Emergency Arbitrator (EA) restraining Future Retail Ltd (FRL) from going ahead its Rs 24,731 crore merger deal with Reliance Retail. A bench headed by Chief Justice N V Ramana, in a consent order, also directed the statutory authorities like National Company Law Tribunal (NCLT), Competition Commission of India (CCI), and market regulator Sebi not to pass any final order related to the merger deal for next four weeks. It considered the statements of senior advocates Harish Salve and Mukul Rohatgi, appearing for FRL and Future Coupons Private Ltd (FCPL) respectively, that the arbitrator has reserved the final verdict in the case after hearing both sides. Read more

Govt plans to bring a bill, Cryptos to be treated as commodity

Govt plans to bring a bill, Cryptos to be treated as commodity
Friday, September 3, 2021
The government is planning to define cryptocurrencies in the new draft bill that also proposes to compartmentalise virtual currencies on the basis of their use cases, according to some sources. Cryptocurrencies will be treated as an asset/commodity for all purposes, including taxation and as per user case — payments, investment, or utility. People in the know said only the cryptocurrencies that are covered under the government’s definition will be allowed to be traded in India. These crypto assets will then be taxed accordingly, said people aware of the development. Read more

Apple hit with antitrust case in India over in-app payments issues

Apple hit with antitrust case in India over in-app payments issues
Thursday, September 2, 2021
Apple Inc is facing an antitrust challenge in India for allegedly abusing its dominant position in the apps market by forcing developers to use its proprietary in-app purchase system. The allegations are similar to a case Apple faces in the European Union, where regulators last year started an investigation into Apple's imposition of an in-app fee of 30% for the distribution of paid digital content and other restrictions. The case was filed by a little-known, non-profit group that argues Apple's fee of up to 30% hurts competition by raising costs for app developers and customers, while also acting as a barrier to market entry. "The existence of the 30% commission means that some app developers will never make it to the market. This could also result in consumer harm," said the filing, which has been seen by Reuters. Read more

India will continue to be a favoured investment destination

India will continue to be a favoured investment destination
Monday, August 30, 2021
India will continue to be a favoured investment destination like we have seen in the last 20 years. Markets have probably discounted a gradual tapering by the US Fed. Recently, small caps and commodities did correct more than large caps. However, keeping the short-term reactions aside, the impact of any taper really depends on the circumstances under which the US Fed starts tapering, according to some analysts. The upside potential in large caps is probably in single-digit percentages. As far as small and mid-caps are concerned, valuations are stretched after the super run of the past 12 months and for the first time in over a decade, the mid-cap indices’ valuations are at a premium to large-caps. Read more

To save or not to save Vodafone Idea-Government's dilemma

To save or not to save Vodafone Idea-Government's dilemma
Thursday, August 5, 2021
If the government wants to work on the survival of the Vodafone Idea it will have to make substantial payments, as well as forego revenues in FY’23, because it will have to extend the same incentives to the entire telecom sector. According to estimates, the industry has to spend around Rs 21,000-Rs 25,000 crores for spectrum which it bought on a deferred payment basis. Vodafone Idea has asked for a moratorium for another year (FY23). If granted, the government will have foregone the installment payout for the third year in a row as it has already provided a moratorium for two years, giving telcos Rs 42,000 crore worth of relief. However, the payouts will be adjusted with interest for the remaining years of the staggered payment (16 years) scheme and this remains unchanged. Read more

algo trading: New trading strategy for retail investors

algo trading: New trading strategy for retail investors
Wednesday, July 21, 2021
Many retail investors have now begun to participate in algo trading, which was available only to institutional investors till a few years ago. The quant (the person who creates the algorithm or algo) studies historical data to come up with certain trading rules that he believes will make money. He then builds the algo, software that has those rules coded in, which then scans the market. Whe­n­e­ver the conditions that ha­ve been coded are met, it ge­nerates buy and sell signals. To access this, traders have to enroll on platforms that offer algo trading strategies, like Rain Technologies, Tradetron, Squareoff, AlgoBulls. The trader also needs to enroll with a broking firm that offers API (application programming interface) integration. An API gathers the signals generated by the trading platform and executes them in the trader’s broking account. Zerodha, Fyers, Upstox, Samco, 5paisa, among others offer API integration. Read more

Wholesale inflation eases to 12.07% in June

Wholesale inflation eases to 12.07% in June
Wednesday, July 14, 2021
India's wholesale inflation moderated to 12.07 percent in June from a record high of 12.94 percent in May amid a sustained rise in fuel and commodity prices, data released by the government today(14th July 2021) showed. Wholesale inflation came in at (-) 1.81 percent in June 2020, due to the implementation of a stringent nationwide lockdown. “The high rate of inflation in June 2021 is primarily due to low base effect and rise in prices of mineral oils viz. petrol, diesel (HSD), naphtha, ATF, furnace oil, etc, and manufactured products like basic metal, food products, chemical products, etc as compared to the corresponding month of the previous year,” an official statement said. Read more

Flipcart is valued now at $37.6 after raising $3.6 bn in funding

Flipcart is valued now at $37.6 after raising $3.6 bn in funding
Monday, July 12, 2021
E-commerce company Flipkart Group said it has raised $3.6 billion in funding in a round led by international groups that included Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund 2, and Tiger Global. The investment values Flipkart at $37.6 billion post-money. The round also saw participation from other sovereign funds including DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad, and marquee investors Willoughby Capital, Antara Capital, Franklin Templeton, Tencent, and Tiger Global. The investment values the Group at USD 37.6 billion (about Rs 2.79 lakh crore) post-money, Flipkart said in a statement. The company, which competes with Amazon, Reliance Industries’ JioMart, and others in the burgeoning Indian e-commerce market, said it will continue to make deeper investments across people, technology, supply chain, and infrastructure to address the requirements of a rapidly growing consumer base in the country. Read more

Many Sugar stocks hit upper circuit limits

Many Sugar stocks hit upper circuit limits
Friday, July 9, 2021
Sugar stocks created some flutter in today's(9th July 2021) session, with many stocks hitting upper circuit limits. Industry watchers said they anticipate a spike in sugar prices to Rs 36-37 per kg in the coming months. The sugar stocks have run up 2-4 times in four months, it is reported. "The sector has seen a turnaround from being cyclical to a structural growth story backed by the government's aggressive ethanol blending programme," it said. "With aggressive distillery capacity addition in India, sugar companies under our coverage should see strong earnings growth over the next three years." Dwarikesh Sugar Industries and Dalmia Bharat Sugar Industries surged 5 percent each to Rs 78.40 and Rs 475, respectively yesterday. Magadh Sugar and Energy jumped 4 percent to Rs 340, whereas EID Parry India gained 2 percent to Rs 417.70. Read more

10club raised $40 mn in seed funding

10club raised $40 mn in seed funding
Tuesday, June 29, 2021
10club has raised $40 million in seed funding. The funding round was co-led by Fireside Ventures and an international investor active in the space. HeyDay, a leading player in the roll-up space, PDS international, Class 5 Global, Secocha Ventures led by Sanket Parekh, boAt founders Aman Gupta & Sameer Mehta (in their individual capacity) and several other global strategic investors participated in the funding round. The funding will primarily be used for expanding 10club’s portfolio of brands, investing in building its technology stack, and for working capital purposes. Vinay Singh, Partner- Fireside Ventures will join the company’s board. 10club partners with e-commerce product sellers in India by acquiring their businesses. The firm said it works with their teams to help them grow 10x in size. Read more

Major cryptocurrencies traded lower today

Major cryptocurrencies traded lower today
Friday, June 18, 2021
Major cryptocurrencies traded lower today(18th June 2021) as the US regulator delayed the approval of Bitcoin ETFs which has dented the sentiments of crypto investors. However, digital tokens, pegged with dollars, showed signs of resilience. The majority of the top 10 digital tokens were trading with cuts at 9.30 hours IST. The Securities and Exchange Commission (SEC) said in a regulatory filing that it will seek public comments on a proposal to list Bitcoin ETFs on Cboe Global Markets Inc. Contrary to US SEC's views, UK watchdog Financial Conduct Authority said more people see crypto assets as a mainstream investment rather than a 'gamble' as ownership of Bitcoin and similar cryptocurrencies have risen to 2.3 million adults in Britain this year. Read more

RBI keeps growth revival top priority;maintained status quo on interest rates

RBI keeps growth revival top priority;maintained status quo on interest rates
Friday, June 4, 2021
The monetary policy committee of RBI maintained the status quo on interest rates for the sixth consecutive review meeting today(4th June 2021), indicating that reviving economic growth was top on its agenda as it decided to look through inflation pressure which is resurfacing in the economy due to a variety of factors including hardening of crude oil prices. “The MPC also decided unanimously to continue with the accommodative stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within the target going forward,” said RBI governor Shaktikanta Das in Mumbai while announcing the policy review decision. Read more

RBI's Monetary Policy Committee expected to hold rates and continue with an accommodative stance to encourage growth

RBI's Monetary Policy Committee expected to hold rates and continue with an accommodative stance to encourage growth
Thursday, June 3, 2021
The RBI is expected tomorrow(4th June 2021) to hold interest rates after a three-day meeting of its Monetary Policy Committee (MPC). The policy will likely maintain an accommodative stance, as helping economic growth remains a priority. Here are key decisions to look at from the review meeting: The market will look out for RBI’s GDP growth forecast for the financial year. In the last policy review meeting of April, GDP growth for the current financial year was projected at 10.5%. For the first quarter, it was projected at 26.2%. The prediction was before the second wave of the coronavirus pandemic that has hurt economic activity due to lockdowns by state governments. Most economists and rating agencies have trimmed their forecasts following the second wave. Many see GDP growth for FY22 in single-digit now, as compared to double-digit predictions made before the second wave. Read more

Platts cuts India's 2021 oil demand by 28%

Platts cuts India's 2021 oil demand by 28%
Friday, May 14, 2021
India’s demand for oil & gas has been cut by S&P Global Platts amid the second wave of Covid cases that have triggered lockdowns across key states since the past few weeks. For 2021, it now pegs the oil demand growth at 350,000 barrels per day (b/d), down from a forecast of 485,000 b/d made in February – translating into a fall of nearly 28 percent. India's city gas demand, Platts said, could drop by 25 – 30 percent in the coming months. However, once the lockdowns are lifted, Platts expects the pent-up demand to get released, which in turn will act as a catalyst for economic growth and trigger a demand uptick for oil & gas in the country. Besides India, the demand forecast for 2021 has been revised down for Western Europe and Latin America due to more restrictions stemming from the second and third waves of Covid. Brent oil prices, WU said, will peak in mid-2021 at over $70 per barrel. Read more

Surge in bond yields and rising commodity prices may cause limited upside for the equity markets

Surge in bond yields and rising commodity prices may cause limited upside for the equity markets
Friday, February 26, 2021
A sharp surge in bond yields and rising commodity prices have come back to haunt equity markets, with most analysts expecting a limited upside for the equity markets. Today(26th Feb.2021), Asian stocks traded sharply lower after Wall Street's main indexes tumbled, with technology-related stocks under pressure following a steep rise in benchmark US Treasury yields, which hit their highest level since the pandemic began – up 14 basis points (bps) at 1.5286 percent. The surge came on the back of expectations of a strong economic expansion and related inflation. “In line with the global trend, Indian yields have definitely bottomed out. Since the expansionary budget in February, Indian 10-year is up 28 bps to 6.18 percent despite RBI’s verbal and explicit market support. The gap between earnings yields (1/Nifty one-year forward PE) to 10-year bond yield is now at 156bps, which is 57bps higher than the long-term average,” said an expert. Read more

Sensex loses over 3,000 points in 5 days as bears hammer market

Sensex loses over 3,000 points in 5 days as bears hammer market
Thursday, January 28, 2021
Bears continued to strengthen their grip on the market as they sold whatever they could get their hands on, sending benchmark indices lower for another day ahead of the Union Budget. At the intraday low of 46,518.48, the 30-scrip S&P BSE Sensex index lost around 3000 points in five days. Foreign investors have decidedly turned negative on India withdrawing money from equities for the third day in a row. Traders are also unwinding their long positions in tandem, putting further pressure on the market. Markets, globally, have turned weak following the steady decline in the US market. The heightened speculative activity in certain segments in US markets has become an area of concern. Back home, in India, the third day of consecutive selling by FIIs have turned the market mood bearish. According to experts, the budget uncertainty will keep the bulls in restraint.

Covid-19 vaccine in India : Status of emergency use authorisation (EUA)

Covid-19 vaccine in India : Status of emergency use authorisation (EUA)
Wednesday, December 9, 2020
Bharat Biotech International (BBIL) had changed the dosage from 3 micrograms of antigen to 6 micrograms during its Covid-19 vaccine trial, a point that the subject expert committee (SEC) would closely examine when it meets on 9th December 2020 to review its application for an emergency use authorisation (EUA) for Covaxin. The panel would also review the applications of Pfizer-BioNTech and Serum Institute of India (SII) seeking a EUA for their vaccines. While many have raised questions over BBIL applying for a EUA during an ongoing efficacy trial, the Indian Council of Medical Research (ICMR), the country’s apex health research institute, has defended the move. Read more

Amazon.com Inc. and RIL fight for dominance of India’s e-commerce space

Amazon.com Inc. and RIL fight for dominance of India’s e-commerce space
Monday, October 26, 2020
Amazon.com Inc. and RIL’s fight for dominance of India’s e-commerce space is turning into a face-off, with both sides battling over the assets of a supermarket chain that could be key to their wider ambitions. Ambani and Jeff Bezos want the stores and warehouses of Future Retail Ltd., which has penetrated Indian cities and small towns with sales of everything from grocery to fashion and electronics. Amazon, which owns a stake in a Future unit, and Reliance have in recent months made pacts with the Future Group, which they say are now being violated. Amazon wants to block Reliance’s purchase of Future’s brick-and-mortar assets because such a deal would give Ambani unparalleled dominance in the only billion-people economy open to foreign firms. Bezos has bet more than $6 billion on India, and Future’s assets will allow it to reach small towns that house key consumers in a market estimated to swell to $1 trillion.

Parliament's joint panel summons Facebook, Twitter

Parliament's joint panel summons Facebook, Twitter
Friday, October 23, 2020
A joint committee of Parliament today(23rd October 2020) issued summons to Facebook in order to seek its "oral evidence" on the issues of data protection and privacy. Twitter too is said to have been directed for an appearance next week. The joint committee led by BJP MP Meenakshi Lekhi has 20 members from the Lok Sabha and 10 from the Rajya Sabha. The agenda of Friday's meeting read: "Oral evidence by the representatives of Facebook India Online Services Pvt Ltd on the Personal Data Protection Bill, 2019." However, the summon to Facebook and Twitter is strictly pertaining to the issue of citizen's personal data protection. The summons to Twitter assumes significance as these come close to the Centre's letter to the microblogging site's chief Jack Dorsey. Read more

external members of RBI'S monetary policy committee appointed

external members of RBI'S monetary policy committee appointed
Tuesday, October 6, 2020
The government has appointed Jayanth Varma who is a professor in the Indian Institute of Management, Ahmedabad, Ashima Goyal, member of the Economic Advisory Council of Prime Minister, and Shashanka Bhide, senior advisor at National Council for Applied Economic Research as external members of the Reserve Bank of India's monetary policy committee. 1. Jayanth Varma is a known expert in financial markets. He is currently a professor at the Indian Institute of Management (IIM), Ahmedabad, and teaches courses in the capital market, fixed income, alternative investment, and corporate finance. He has been the dean of IIM for three years. Prior to this, he was a full-time member of the market regulator Securities Exchange Board of India for a year. This is after completing his three years stint at Sebi as a part-time member. Prof. Varma, who is also a qualified cost accountant awarded a gold medal for scholastic performance from the IIM. Read more

RBI postpones September’s Monetary Policy Committee meeting, new dates to be announced shortly

RBI postpones September’s Monetary Policy Committee meeting, new dates to be announced shortly
Monday, September 28, 2020
The meeting of the Monetary Policy Committee (MPC), for the penultimate policy review for 2020, which was scheduled for 29 September, 30 September, and 1 October 2020 has been rescheduled. The revised dates will be notified later, RBI said. The Reserve Bank is required to conduct at least four meetings of the Monetary Policy Committee in a year. The central bank didn’t give any reason, but the external members for the MPC have not been appointed by the government. This may have forced the central bank to defer the meetings. Even as weak demand hurts the economy, the RBI had refrained from cutting the benchmark lending rate, leaving the rate unchanged at 4 per cent in the last MPC meeting. However, it continued to maintain the accommodative stance in the wake of weak growth numbers and the adverse impact of the coronavirus pandemic on the economy. Read more

Cold chain logistics required for Covid-19 vaccine distribution

Cold chain logistics required for Covid-19 vaccine distribution
Friday, September 11, 2020
As the vaccine for Covid-19 is getting ready putting together an efficient cold chain to deliver it to nook and corner of the country. From having community cold-chain networks to combining agricultural and medical cold chains wherever possible — many such ideas are abroad. A few hundred vaccine candidates are being developed globally, using different technology platforms. India, with 1.3 billion people, is the world’s largest vaccine maker. Some frontrunners are in advanced stages of trial and can hit the market early next year. Read more

Verizon, Amazon may invest over $4 billion in Vodafone Idea

Verizon, Amazon may invest over $4 billion in Vodafone Idea
Thursday, September 3, 2020
Verizon Communications Inc(US wireless carrier) and Amazon.com Inc may invest more than $4 billion for a stake in India's Vodafone Idea Ltd, the Mint newspaper reported today (3rd Sept.2020), sending shares of Vodafone Idea up 10 percent. Vodafone Idea's stake-sale talks had been paused pending the outcome of a court hearing in India, which created uncertainty and could have threatened Vodafone Idea's survival, Mint reported, citing two unnamed people aware of the negotiations. But Amazon and Verizon are set to resume discussions following a Supreme Court ruling on Tuesday which gave mobile carriers 10 years to settle government dues.

IndiaMART InterMESH gains 98% in 2 months

IndiaMART InterMESH gains 98% in 2 months
Wednesday, September 2, 2020
Shares of IndiaMART InterMESH gained 9 per cent, hitting a new high of Rs 4,189, on the BSE in the intra-day trade on Wednesday on the expectation of strong earnings outlook . The stock was trading higher for the third straight day in an otherwise weak market.In the past two months, the stock has gained 98 per cent reporting strong operational performance for the quarter ended June 2020. The leading E-commerce company caters to the business-to-business model and has seen rapid growth since getting listed on the stock exchanges a year ago. It has disinvested 70 per cent stake in the equity share capital of 10 times to Mayank Chowdhary and Atul Todi for Rs 21.17 lakh.IndiaMART is a dominant market leader in the online B2B Classifieds industry with over 70% market share, catering to a large audience spread over 1000 cities. Total revenue from operations during the quarter grew 4 per cent year on year (YoY) at Rs 153 crore. Read more

Govt to set up National Recruitment Agency to hold common govt job exam

Govt to set up National Recruitment Agency to hold common govt job exam
Wednesday, August 19, 2020
Today Govt approved the proposal to set up a National Recruitment Agency (NRA) to conduct a common examination for jobs in the government and state-owned banks. This “historic decision" was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi,” said, Information & Broadcasting Minister Prakash Javadekar. This Common Eligibility Test will help "youngsters of the country find jobs easily”, said Javadekar, explaining that this will remove the hassle of multiple tests for various government jobs and make the process smoother and simpler. “Candidates for government jobs appear for multiple examinations and pay repetitive fees. The NRA will remove these pain points with a common test for multiple government jobs.” Read more

RBI:Repo rate unchanged at 4%; stance accommodative

RBI:Repo rate unchanged at 4%; stance accommodative
Thursday, August 6, 2020
The RBI today(6th August 2020) decided to keep the benchmark repo rate unchanged at 4 percent, already the lowest since 2000, and reverse repo rate at 3.35 percent. The six-member Monetary Policy Committee (MPC) of the RBI, headed by the Governor Shaktikanta Das, announced the decision after its 24th two-day bi-monthly meeting. RBI had last revised its policy rate on May 22, in an off-policy cycle to perk up demand by cutting interest rate to a historic low. Governor Shaktikanta Das said the MPC voted to keep interest rate unchanged and continue with its accommodative stance to support growth. "Global economic activity has remained fragile. A surge in Covid-19 cases has subdued early signs of revival, said Das, adding: "Economic activity had started to recover, but a surge in infection has forced imposition of lockdowns." Supply chain disruptions were persisting and inflationary pressures were evident across segments, he said. Read more

President Donald Trump invites PM Modi to attend G7 summit rescheduled for September

President Donald Trump invites PM Modi to attend G7 summit rescheduled for September
Wednesday, June 3, 2020
Prime Minister Narendra Modi has received an invitation from US President Donald Trump to attend the next Group of Seven summit, the External Affairs Ministry said yesterday, 2nd June 2020. Narendra Modi, in a telephone call, told President Donald Trump that India would be happy to work with the United States and other countries to ensure the success of the next G7 summit, the Reuters reported. Trump said on Saturday he was postponing until September the summit that had been scheduled for late June at Camp David, the US president's country retreat, and that he wanted to invite Australia, Russia, South Korea, and India to the meeting. Trump conveyed his desire to expand participation beyond the members of the group of the world's most advanced economies.

Patanjali is in the process of launching an e-commerce platform

Patanjali is in the process of launching an e-commerce platform
Friday, May 15, 2020
Baba Ramdev’s Patanjali is in the process of launching an e-commerce platform to exclusively supply made-in-India products and swadeshi solutions. The platform, OrderMe, will offer Patanjali’s own ayurvedic products as well as connect the consumer to shops in his vicinity selling Indian products. Orders will be home-delivered free of cost within hours, according to the sources.

MCX will provide exit option to market participants in commodity hitting negative rate

MCX will provide exit option to market participants in commodity hitting negative rate
Monday, May 11, 2020
Commodity bourse MCX will provide exit options to market participants in crude oil all other commodity derivatives if the contracts hit negative prices, the exchange said in a circular Monday. The exit will not be on expiry day when a due date rate is published, but on all other trading days if clients through their brokers or prop traders chose to square off their positions. The exit will be enabled through an auction that will be held in a 15-minute window after market closing, currently 11:30 pm, from 11:40-11:55 pm. Read more

Monday morning disaster: Sensex plummets 1,800 points, Nifty below 9,500

Monday morning disaster: Sensex plummets 1,800 points, Nifty below 9,500
Monday, March 16, 2020
Indian benchmark indices were trading over 5 percent lower today,16th March as sell-off resumed after a day's halt. The uncertainty regarding the effect of the coronavirus endemic continued to keep investors cautious. On Sunday, the US Federal Reserve cut interest rates to near-zero The S&P BSE Sensex was down 1,857 points, or 5.45 percent, at 32,340 levels. Index-heavyweight HDFC slipped over 7 percent after leading Friday's rebound rally. State Bank of India was also down over 6 percent after Friday's 13 percent up move. IndusInd Bank was down over 8 percent. In Asian market Stocks were slammed and the dollar battered after emergency rate cut in the United States. US stock futures plunged 4.8 percent to hit their down limit before daybreak in Singapore. Australia's benchmark stock index fell 7 percent in the first quarter-hour of the trade before paring some of the losses. Oil prices extended losses today, slumping by more than $1 a barrel, nearing $30 a barrel.

Flipkart has filed a legal challenge against an antitrust investigation by CCI in India

Flipkart has filed a legal challenge against an antitrust investigation by CCI in India
Friday, February 21, 2020
The Competition Commission of India (CCI) in January ordered a probe into alleged violations of competition law and certain discounting practices by the two e-commerce giants, but a state court put the investigation on hold last week following a challenge by Amazon. Flipkart has filed the case in a court in Bangalore aggrieved by the CCI's probe order. In the case Flipkart argues that CCI ordered its probe without initial evidence that the company's practices were harming competition. The filing comes days ahead of U.S. President Donald Trump's visit to India, and amid U.S. concerns about India's tightening of foreign investment rules for the ecommerce sector.

AGR dues: Public sector companies with telecom licence also asked to pay

AGR dues: Public sector companies with telecom licence also asked to pay
Sunday, February 16, 2020
In a blow to Bharti Airtel and Vodafone Idea, the Supreme Court on 14th Feb rejected their plea seeking a staggered option for paying dues linked to adjusted gross revenue (AGR). Vodafone Idea announced on 15th Feb that it would pay its AGR dues to the government in the next few days in line with the Supreme Court order. Now the public sector companies that hold telecom licence primarily for their own network also received a letter by DOT, issued following Friday’s Supreme Court order, to pay their dues immediately. Oil India has to pay Rs 48,000 crore as AGR dues.GAIL has been asked to pay Rs 1.72 trillion, nearly four times its net worth of ~44,092 crore, and nearly three times its revenue. Power Grid has been asked to shell out nearly ~22,170 crore. This is almost equivalent to its revenue and over three times its net profit. Thus the outgo from these companies could not only wipe out their surplus but create distress in other sectors also.

Download Our App Now!

Get it on Google Play

Copyright ©2024 - Couplor Technologies Pvt. Ltd. , All Rights Reserved. Terms and Conditions |  Privacy Policy