Small-, mid-caps lead FY24 market rally, but large-caps may become heroes
Thu, Mar 28, 2024 4:50 PM

Small-, mid-caps lead FY24 market rally, but large-caps may become heroes

Small- and mid-cap indices summarily beat frontline indices in FY24, giving more than double the returns of Nifty 50. However, equity analysts expect the trend to reverse going into the next financial year 2024-25 as large-cap stocks may reclaim momentum, while Sebi's concerns of 'frothy' valuations and mutual funds' stress test results cast a shadow on small-cap stocks.

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Multibagger small-cap stock in green after company’s promoter
Thu, Mar 28, 2024 4:47 PM

Multibagger small-cap stock in green after company’s promoter

The shares of the company have an ROE of 25.27 per cent. The promoter of Rushil Decor Limited (RDL), Krupesh Ghanshyambhai Thakkar’s 100 per cent pledged shares were revoked. Securities held pre-transaction was 41,05,362 shares (15.47 per cent). Securities held post-transaction was 41,05,362 shares (15.47 per cent). A total of 19,85,925 equity shares worth Rs 58,64,43,653 were revoked.

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PhonePe ties up with UAE’s Neopay for international UPI payments
Thu, Mar 28, 2024 4:45 PM

PhonePe ties up with UAE’s Neopay for international UPI payments

India's PhonePe has integrated with Mashreq Bank to allow Indians travelling to the United Arab Emirates (UAE) to make UPI payments through the bank’s Neopay terminals located across the region. The collaboration is facilitated via NPCI International Payments Limited (NIPL), a subsidiary of the National Payments Corporation of India (NPCI), the Walmart-backed payments company said in a release.

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Chanel bags price soars past €10,000 in Paris, can high-end outpace slow
Thu, Mar 28, 2024 4:45 PM

Chanel bags price soars past €10,000 in Paris, can high-end outpace slow

A classic medium-sized Chanel flap bag has broken through the €10,000 ($10,820) barrier for the first time in Paris. In a sign that some luxury brands are willing to keep pushing prices higher despite weakening demand, Chanel has lifted the price tag of its best-known bag to €10,300 in the French capital. That’s up about 6.2% from €9,700 earlier this year.

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HAL conducts successful first flight of light combat aircraft Tejas Mk1A
Thu, Mar 28, 2024 4:44 PM

HAL conducts successful first flight of light combat aircraft Tejas Mk1A

The first aircraft LA5033 of the Tejas Mk1A series successfully soared in the sky after taking off from the Hindustan Aeronautics Limited (HAL) facility in Bengaluru on Thursday, the public sector aerospace and defence company said. According to HAL, the Tejas Mk1A aircraft did a successful sortie with a flying time of 18 minutes.

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Indian rupee may trade in 82-83 range against US dollar in FY25
Thu, Mar 28, 2024 4:42 PM

Indian rupee may trade in 82-83 range against US dollar in FY25

The Indian rupee is likely to trade between 82 and 83 against the US dollar in the next financial year due to expected inflows on account of the Indian bond inclusion in global bond indices, experts said. On March 26, the rupee fell to a record low of 83.45 against the US dollar in the closing minutes of the session due to a strong dollar demand from oil marketing companies.

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India's April-February fiscal deficit reaches 86.5% of FY24 target
Thu, Mar 28, 2024 4:41 PM

India's April-February fiscal deficit reaches 86.5% of FY24 target

The central government's fiscal deficit widened to Rs 15.01 lakh crore in April 2023-February 2024 from Rs 11.03 lakh crore in April-January, data released by the Controller General of Accounts showed on March 28. At Rs 15.01 lakh crore, the fiscal deficit for the first 11 months of the current financial year accounts for 86.5 percent of the revised estimate of Rs 17.35 lakh crore.

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Novo’s $1,000 Ozempic drug for diabetes treatment can be made
Thu, Mar 28, 2024 4:40 PM

Novo’s $1,000 Ozempic drug for diabetes treatment can be made

Diabetes drug Ozempic, priced at ₹$1,000, could be manufactured for less than $5 a month, a new study has suggested.Novo Nordisk charges close to $1,000 per month for the Ozempic injection before insurance in the US market. However, the blockbuster drug's manufacturing cost is much lower than its selling price.

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Expected bump in Japan inflation may add to BOJ's communication challenge
Thu, Mar 28, 2024 4:35 PM

Expected bump in Japan inflation may add to BOJ's communication challenge

An expected end to government subsidies to curb fuel bills will likely bump up Japan's inflation rate later this year, analysts say, complicating the central bank's efforts to communicate its intention to go slow in raising interest rates. The government is expected to end in May subsidies that curb electricity and gas bills, which were introduced last year to cushion the blow to households.

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CIBIL: Not checking your credit score regularly?
Thu, Mar 28, 2024 4:30 PM

CIBIL: Not checking your credit score regularly?

It is believed that one should monitor their credit score regularly. It is recommended to check the CIBIL score at least once a year for several reasons. For instance, what if the CIBIL score does not reflect your real creditworthiness because of some inadvertent mistakes in it. Or if you have a plan to raise a huge loan next year.

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IIFL Home Finance picks 5% stake in RMBS Development Company
Thu, Mar 28, 2024 4:13 PM

IIFL Home Finance picks 5% stake in RMBS Development Company

IIFL Home Finance has bought a 5 percent "strategic stake" in RMBS Development Company Ltd for Rs 25 crore, the company said on March 28. ICICI Bank, HDFC Bank and Bajaj Finance hold a 7 percent stake each in the company. Shriram Housing Finance, Aditya Birla Housing Finance, Hero Housing Finance and Grihum Housing Finance Limited have a 5 percent stake each in RMBS.

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JPMorgan says US stocks are so crowded they may crack at any time
Thu, Mar 28, 2024 4:12 PM

JPMorgan says US stocks are so crowded they may crack at any time

It’s the talk of the stock market: What will be the sign that the five-month rally in US equities is coming to an end. But if you ask JPMorgan Chase Co.’s Dubravko Lakos-Bujas, investors may not see it coming when it hits. The Wall Street giant’s chief global equity strategist warned clients on Wednesday that they could be “stuck on the wrong side” of the momentum.

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Vijay Kedia backed TAC Infosec IPO continues to see strong demand
Thu, Mar 28, 2024 4:10 PM

Vijay Kedia backed TAC Infosec IPO continues to see strong demand

The TAC Infosec IPO, which opened for subscription on Wednesday, March 27, will close on Tuesday, April 2. The price band for the issue is ₹100 to ₹106 per share, with a face value of ₹10. 1,200 equity shares make up the lot size for the IPO; investors may bid for a minimum of 1,200 equity shares. TAC Infosec IPO on Tuesday, March 26, raised ₹8.55 crore by selling 8.06 lakh equity shares.

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F&O Stocks: Tata Chemicals, IDFC First Bank among stocks with short buildup
Thu, Mar 28, 2024 4:09 PM

F&O Stocks: Tata Chemicals, IDFC First Bank among stocks with short buildup

In Thursday's trading session, the following five stocks witnessed a build of fresh short positions. Let’s first understand how this conclusion is reached whether a stock has seen a buildup of fresh short position or not. To understand it we have to look at what “short selling” means. When a trader is expecting the stock prices to fall, she may sell the stock without owning it.

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India to see highest number of new EV model launches in year ahead
Thu, Mar 28, 2024 3:58 PM

India to see highest number of new EV model launches in year ahead

About 25 models of battery electric vehicles (BEVs) are lined up for release by 20 carmakers in India in the year ahead - the highest number so far - at prices ranging from Rs 5 lakh to Rs 3.5 crore. Although BEVs account for only 2.2 percent of passenger vehicle sales in the country, the automotive industry is embracing electric cars as part of its future product lineup.

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