ICICI Bank to raise stake in ICICI Lombard
Tue, May 30, 2023 9:15 AM

ICICI Bank to raise stake in ICICI Lombard

ICICI Bank's board of directors approved an increase in shareholding in the lender's general insurance subsidiary, ICICI Lombard General Insurance, as it aims to establish the company as a subsidiary of ICICI Bank. The bank plans to acquire an additional 4% stake in multiple tranches, in line with applicable laws, to ensure compliance with Section 19 (2) of the Banking Regulation Act, 1949.

Open Flip
MFIs offload NPAs with sales to ARCs, write-offs
Tue, May 30, 2023 9:13 AM

MFIs offload NPAs with sales to ARCs, write-offs

Sales of non-performing assets to asset reconstruction companies and technical write-offs of extremely sticky ones helped the microfinance sector reduce its bad-loan stockpile by around a seventh to Rs 36,600 crore at the end of March. Banks including the country's largest microfinance lender, Bandhan Bank, account for about 45% of the sectoral bad loans, industry sources said.

Open Flip
Street cheers SAIL's capex plans, guidance
Tue, May 30, 2023 9:11 AM

Street cheers SAIL's capex plans, guidance

Shares of SAIL saw their sharpest jump in three months Monday after its management guided for a 15% growth in sales volumes and lower costs for FY24 and set a target of nearly doubling annual output in eight years. Shares rose more than 3% intraday before closing at ₹84.35, up 2.7% from the previous close. Most analysts have retained their 'hold' or 'neutral' rating for the shares.

Open Flip
Big movers on D-Street: What should investors do with these stocks?
Tue, May 30, 2023 9:09 AM

Big movers on D-Street: What should investors do with these stocks?

Equity markets kicked off the week on a positive note amid optimism in the global markets and tentative breakthrough in US debt ceiling negotiations. Stocks that were in focus include names like Prince Pipes, which gained 5%, M&M, which was up 3.37% and ONGC, whose shares fell nearly 3% on Monday. 🎯Prince Pipes: Buy 🎯M&M: Sell 🎯ONGC: Sell

Open Flip
Dollar on defensive after dovish Powell, debt ceiling setback
Tue, May 30, 2023 9:02 AM

Dollar on defensive after dovish Powell, debt ceiling setback

The dollar nursed losses against the yen and euro on Monday following a surprise breakdown in U.S. debt ceiling negotiations and after Fed chair Jerome Powell indicated a preference to slow rate hikes. The greenback slipped 0.15% to 137.715 yen at the start of the week, having snapped a six-day winning streak on Friday and pulling back from a six-month peak. The euro added 0.14% to $1.0822.

Open Flip
Asian stocks mostly higher as US debt deal revives confidence
Tue, May 30, 2023 8:58 AM

Asian stocks mostly higher as US debt deal revives confidence

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4% early Tuesday. The index is down 1.3% so far this month. Australian shares were up 0.03% while the Nikkei stock index slipped 0.28%, cooling a bit after the Japanese benchmark hit a 33-year high on optimism over the U.S. debt deal and a weaker yen. Hong Kong's Hang Seng Index climbed 0.31% while China's CSI300 Index dipped 0.06%.

Open Flip
Trade Spotlight | Your strategy for these 3 stocks
Tue, May 30, 2023 8:43 AM

Trade Spotlight | Your strategy for these 3 stocks

The market reported a half-a-per cent gain on May 29, continuing with the up-trend for the third straight session on the back of positive trends in Asian counterparts. The BSE Sensex climbed over 340 points to 62,846. Stocks that were in action included: 👉🏻eClerx Services 👉🏻Mahindra Lifespace Developers 👉🏻Macrotech Developers

Open Flip
Sun facing some clouds is still a buy for analysts
Tue, May 30, 2023 8:36 AM

Sun facing some clouds is still a buy for analysts

Analysts remained hopeful of Sun Pharma's long-term growth prospects, advising clients to buy the stock but lowered price targets after the pharma major's Q4 revenue beat analysts' expectations but missed estimates at an operating level. Shares declined nearly 2.5% in Monday's trading before recouping most of its losses. The stock eventually closed at ₹968.50, down 0.14% from the previous close.

Open Flip
Oil rises on U.S. debt deal, but rate hikes, OPEC+ talks curb enthusiasm
Tue, May 30, 2023 8:34 AM

Oil rises on U.S. debt deal, but rate hikes, OPEC+ talks curb enthusiasm

Oil prices rose on Tuesday as the expectations the debt ceiling deal in the U.S. will spur more demand but fears of further interest rate rises and that OPEC+ will leave output quotas unchanged capped gains. Brent crude futures climbed 35 cents, or 0.5%, to $77.42 a barrel by 0145 GMT after gaining 12 cents on Monday. WTI crude rose 53 cents to $73.20 a barrel, up 0.7% from Friday's close.

Open Flip
Gold languishes near 2-month low amid US debt deal optimism
Tue, May 30, 2023 8:33 AM

Gold languishes near 2-month low amid US debt deal optimism

Gold prices were little changed in early Asian trade on Tuesday, lingering near a two-month low, as optimism over a U.S. debt ceiling deal along with a firm dollar dented the metal's appeal. Spot gold was flat at $1,942.16 per ounce by 0020 GMT, not far from a two-month low hit on Friday. U.S. gold futures fell 0.1% to $1,941.80.

Open Flip
FDI equity inflows contract 22% in FY23
Tue, May 30, 2023 8:30 AM

FDI equity inflows contract 22% in FY23

Foreign direct equity investments into India in fiscal 2023 shrank 21.67% from the previous year to $46.03 billion, data released by the Department for Promotion of Industry and Internal Trade showed Monday. The FDI equity inflows were $58.77 in 2021-22. In the January-March quarter, the inflows were $9.28 billion, around 41% lower than the year-earlier period's $15.59 billion.

Open Flip
Stocks in news for today!
Tue, May 30, 2023 8:28 AM

Stocks in news for today!

The Nifty futures contract traded on the Singapore Exchange indicates a positive start to domestic equities. Here's a slew of stocks that will be in focus today for various reasons- ✅Monte Carlo Fashions ✅Best Agrolife ✅Vedanta ✅ITC ✅Adani Ports ✅Apollo Hospitals ✅Mankind Pharma ✅NBCC (India) ✅RVNL ✅Torrent Power ✅Sobha ✅Jubilant Pharmova ✅IRCTC

Open Flip
SGX Nifty up 15 points in today's trade
Tue, May 30, 2023 8:20 AM

SGX Nifty up 15 points in today's trade

Domestic equities edge higher on Monday following global optimism after the US reached a tentative agreement to raise the debt ceiling and avert a default. SGX Nifty signals a positive start Nifty futures on the Singapore Exchange traded 13 points, or 0.07 per cent, higher at 18,703, signalling that Dalal Street was headed for a positive start on Tuesday.

Open Flip
🎇Check out these buzzing stocks for today
Tue, May 30, 2023 8:15 AM

🎇Check out these buzzing stocks for today

📌Reliance Industries: NBC Universal (NBCU) and JioCinema, Viacom18’s streaming service, have entered into a multi-year partnership to offer films and TV series in India. 📌RVNL has recorded a 5% YoY decline in profit at Rs 359 crore for Q4. 📌Torrent Power has registered a profit of Rs 449 crore for Q4. 📌NBCC (India) has registered a whopping 206% YoY growth in profit at Rs 108.4 crore for Q4.

Open Flip
Adani Transmission Q4 Results: Net profit soars 70% YoY
Mon, May 29, 2023 11:33 PM

Adani Transmission Q4 Results: Net profit soars 70% YoY

Adani Transmission reported 70% growth in consolidated net profit at Rs 389 crore for the three months ended March quarter. Consolidated revenue from operations during the quarter under review rose 17% YoY to Rs 3,031 crore. Operational EBITDA was up 28% to Rs 1,570 crore. During the meet, it was also approved to change the name of the company to Adani Energy Solutions, subject to approvals.

Open Flip

Join our Smart Investment Community

More than 1 Million users are using FlipItMoney to stay updated about the business and finance world! Join FlipItMoney now and take smart investment decisions!
Icon