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 FlipThe 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Open FlipBalaji Speciality Chemicals has withdrawn draft papers to raise funds through a public offering; the company did not provide reasons for this decision.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 FlipSandeep 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 Flip10 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 FlipThe 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 FlipInvesting 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 FlipThe 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 FlipThe Golden Crossover has recently grabbed the attention of investors and out of 40 stocks experiencing the crossover Trendlyne singled out 10 with promising performances. The crossover is when a stock's 50-day Simple Moving Average crosses above its 200-day SMA indicating a potential upswing in a stock's price; it is often seen as a bullish signal.
Open FlipOver the past two years, climate goals have been neglected leading to increased reliance on coal energy. Urgent measures are needed such as ambitious goal-setting with specific actions and outcomes to combat climate change. A fair exit plan from fossil fuels is only possible if the Global North and South cooperate by aligning common but differentiated responsibilities.
Open FlipSAMIL has opened a new 11,000 sq m facility for wiring harnesses in the UAE, costing 10 million euros. 500 people will be employed and it exports to Europe. Sheikh Saud bin Saqr Al Qasimi inaugurated the plant as part of RAK's diversification strategy. The company has 8 plants in the region and provides full service solutions for the mobility energy industry globally.
Open FlipOn September 8, the Indian stock market had a remarkable day as several midcap stocks hit their respective 52-week highs. Power Finance Corporation, REC, Indian Railway Finance Corporation, JSW Energy, Shriram Finance, Vodafone Idea, The Federal Bank, CG Power and Industrial Solutions, Petronet LNG, and Oberoi Realty all achieved this feat.
Open FlipThe Indian central bank (RBI) has been trying to prevent the rupee from sinking to a new record low by intervening on behalf of the state-run bank in non-deliverable forwards and in currency futures, according to sources. They sold large amounts of dollars aggressively that enabled the rupee to recover from 83.12 to 82.97 against the USD.
Open FlipReliance Industries, a telecoms-to-energy conglomerate owned by billionaire Mukesh Ambani, is exploring semiconductor manufacturing to address supply chain needs and cater to growing chip demand in India. Talks are on with foreign chipmakers, but no timeline has been set and Reliance is yet to make a call. Investment in India's semiconductor market is estimated at $80 billion by 2028.
Open Flip✅ Amid positive global cues, benchmark indices closed on a positive note today. 📢 At 3:30 PM, the Sensex improved by 333.35 points or 0.50% at 66,598.91, and the Nifty was up 92.90 points or 0.47% at 19,819.95. 📊Among sectoral, Nifty Energy (⬆️1.39%) turned out to be the best performer while Nifty Pharma (⬇️ 0.36%) saw considerable selling.
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