Adani Group stocks market cap crosses Rs 11 lakh crore
Fri, Sep 8, 2023 8:27 PM

Adani Group stocks market cap crosses Rs 11 lakh crore

This has re-energized investors resulting in Adani stocks crossing the 11 lakh crore-mark.Adani stocks have recovered from the wealth destruction caused by Hindenburg's allegations with the conglomerate implementing a comeback strategy of debt repayment and scrapping acquisitions, which was met with renewed investor interest, taking the market value to Rs 11 lakh crore on Friday.

Open Flip
US stocks open subdued in cautious trading ahead of inflation data
Fri, Sep 8, 2023 8:27 PM

US stocks open subdued in cautious trading ahead of inflation data

At the open on Friday, Wall Street's main indices were subdued as investors waited for a fresh inflation reading to see if interest rates could stay higher for longer. The Dow Jones was down 13.32 points, S&P 500 up 0.16, Nasdaq Composite gaining 5.88 points.

Open Flip
REC gets shareholders' nod to hike overall borrowing limit to Rs 6 lakhs
Fri, Sep 8, 2023 8:26 PM

REC gets shareholders' nod to hike overall borrowing limit to Rs 6 lakhs

REC Ltd's 54th AGM was held on Wednesday. Shareholders approved a resolution to increase the company's borrowing limit from Rs 4.5 lakh crore to Rs 6 lakh crore. Other resolutions passed at the AGM included raising funds through private placement of unsecured/secured non-convertible bonds/debentures up to Rs 1,05,000 crore in one or more tranches until Sept 5, 2024.

Open Flip
SAT defers hearing on SEBI's confirmatory order to Sept 13
Fri, Sep 8, 2023 8:25 PM

SAT defers hearing on SEBI's confirmatory order to Sept 13

The Securities Appellate Tribunal (SAT) postponed the final hearing on a plea challenging SEBI's order barring Punit Goenka and Subhash Chandra from holding key positions in ZEEL. SAT is hearing rejoinders from their counsels Navroz Seervai and Abhishek Manu Singhvi, who allege that SEBI based its decision on speculation without completing the investigation.

Open Flip
Amid Funding Winter, Venture Catalysts Exits Cusmat With 4.2X Returns
Fri, Sep 8, 2023 8:24 PM

Amid Funding Winter, Venture Catalysts Exits Cusmat With 4.2X Returns

Venture Catalysts has partially exited B2B skilling startup Cusmat with 4.2X returns in less than 3 years, earning an XIRR of 60%. It invested during their seed round in 2020 & then took its exit during the $3.5Mn Series A. Having posted impressive growth metrics, this move is viewed as a success in the current challenging economic climate with many startups facing difficulty in raising capital.

Open Flip
Nifty sees biggest weekly gains since June
Fri, Sep 8, 2023 6:50 PM

Nifty sees biggest weekly gains since June

The Nifty50 surged to a six-session high on September 8, as bulls maintained control. The index is likely to breach 19,900 soon and could challenge the record high of 19,992 with range bound consolidation between 19,850-19,670. Bank Nifty rose 1.62% in its weekly chart and breached resistance level at 44,650.

Open Flip
RBI Official Calls For More Investment In Digital Payments Sector
Fri, Sep 8, 2023 6:15 PM

RBI Official Calls For More Investment In Digital Payments Sector

RBI's K Vijaykumar calls for more investments in digital payments industry to increase competition. He added that RBI is watching the developments in UPI sphere and NPCI MD Dilip Asbe predicts 10 Bn transactions across UPI platforms soon. Government has launched EV charging payment modules, UPI LITE X on National Electronic Toll Collection and other conversational payment products.

Open Flip
Gold rises Rs 100; silver remains flat
Fri, Sep 8, 2023 6:02 PM

Gold rises Rs 100; silver remains flat

Gold prices rose by Rs 100 to Rs 60,150/ 10g in the national capital on Friday amid strong cues in overseas markets. Global gold was trading higher at USD 1,923/ounce & silver remained flat at USD 23.02/ounce, while in India silver was flat at Rs 74,100/kilogram. The rise in gold prices is driven by safe-haven demand & a pullback in Treasury yields, according to Saumil Gandhi of HDFC Securities.

Open Flip
MSRDC to lease land parcels in Pune, Raigad for 60 years
Fri, Sep 8, 2023 5:18 PM

MSRDC to lease land parcels in Pune, Raigad for 60 years

The Maharashtra State Road Development Corporation (MSRDC) plans to put two plots, one in Pune and one in Raigad district, up for lease. The expected total of Rs 358 crore will fund infrastructure projects. These parcels are ideal candidates for commercial development as they have good accessibility and are surrounded by warehouses, industrial zones and logistics hubs.

Open Flip
Balaji Speciality Chemicals withdraws IPO papers
Fri, Sep 8, 2023 5:03 PM

Balaji Speciality Chemicals withdraws IPO papers

Balaji Speciality Chemicals has withdrawn draft papers to raise funds through a public offering; the company did not provide reasons for this decision. They had filed a DRHP with SEBI and had received approval in November, but it was not launched within the one year timeframe from then. The original intention was to use the money for repaying debts, working capital and general corporate purposes.

Open Flip
SEBI's job is to remove ignorance from the market, not stupidity
Fri, Sep 8, 2023 4:54 PM

SEBI's job is to remove ignorance from the market, not stupidity

Sandeep Parekh of Finsec Law Advisors stresses that market regulator Sebi focuses on removing ignorance from the market rather than taking responsibility for people's decisions - even ones which are absurd. Parekh was responding to a consultation paper from Sebi regarding regulating the association between investors and unregistered finfluencers.

Open Flip
Gainers and Losers: 10 stocks that moved the most on September 8
Fri, Sep 8, 2023 4:49 PM

Gainers and Losers: 10 stocks that moved the most on September 8

10 stocks that moved the most today- 📌L&T rose 2%, 📌Landmark Cars surged 13%, 📌Mazagon Dock rallied 6%, 📌VRL Logistics slumped 1%, 📌PB Fintech gained 3%, 📌Natco Pharma slumped 3%, 📌Havells India rose 6%, 📌Tata Power zoomed 2%, 📌Bajaj Finserv rallied 2%, & 📌Tejas Network surged 0.1%.

Open Flip
Guaranteed Savings Plan vs Guaranteed Income Plan: Which is better?
Fri, Sep 8, 2023 4:43 PM

Guaranteed Savings Plan vs Guaranteed Income Plan: Which is better?

The decision to choose between a savings plan and an income plan is not easy. Both guarantee financial security, but it's advisable to consider factors such as tax benefits and loan availability before investing in either of them. Careful analysis can help you find the best plan for you.

Open Flip
Bata India, Dabur India among 10 stocks with RSI trending up
Fri, Sep 8, 2023 4:41 PM

Bata India, Dabur India among 10 stocks with RSI trending up

Investing in the stock market is like riding a wave - you need to time it right to make the most. The Relative Strength Index (RSI) oscillator is often used as a guide, as it ranges from 0 to 100 and indicates when a stock may be overbought/oversold. On Sept. 7, StockEdge reported 30 stocks showing an RSI uptrend with 10 stocks handpicked by ETMarkets for promising performance.

Open Flip
Rupee closes higher against US dollar on RBI intervention
Fri, Sep 8, 2023 4:16 PM

Rupee closes higher against US dollar on RBI intervention

The Indian rupee strengthened past the 83 mark on Sept. 8, likely due to RBI intervention, plus discontinuance of incremental CRR, positive domestic markets, and softening crude oil prices. It ended at 82.94/dollar. Analysts expect slight positive bias, but strong dollar and high oil may limit gains. Asian currencies trading higher, USDX was down 0.06%.

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