🚀 Metal stocks outperform others today! Check out why?
Mon, May 10, 2021 10:00 PM

🚀 Metal stocks outperform others today! Check out why?

The NIFTY Metal Index gained as much as 3.14% today as iron ore futures surged on strong Chinese demand and copper prices hit a record high. Top 5 gainers among Nifty Metal stocks on May 10 (according to percentage gain) : [1] NMDC (9.63%), [2] Coal India (8.22%), [3] National Aluminium Company (7.83%), [4] MOIL (6.59%), and [5] Hindalco Industries (6.21%). Will they increase further tomorrow?

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Dow Jones scales record high as materials, energy stocks gains
Mon, May 10, 2021 9:20 PM

Dow Jones scales record high as materials, energy stocks gains

The Dow Jones Industrial Average climbed a record high on Monday on anticipation that interest rates would remain lower for longer. The materials sector added 1.3%, while the energy index jumped to a more than one-year peak after a cyber attack on top U.S. pipeline operator Colonial Pipeline shuttered a fuel network that transports nearly half of the East Coast's supplies, thus lifting oil prices.

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Indian states that have started online Alcohol delivery
Mon, May 10, 2021 9:19 PM

Indian states that have started online Alcohol delivery

As another set of Covid lockdowns have impacted the states’ treasury, several state governments in India have decided to start alcohol delivery once again to keep the revenue flow stable. Indian states together earned about Rs2.25 Lakh Cr from taxes upon alcohol sales in fiscal year 2020. Karnataka has allowed alcohol delivery for the first time in its history, Kerala is still figuring out on it.

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IndiGo’s board permits raising Rs 3,000 crore via QIP
Mon, May 10, 2021 9:02 PM

IndiGo’s board permits raising Rs 3,000 crore via QIP

IndiGo Monday declares that its board has permitted raising of funds up to Rs 3,000 crore via a qualified institutional placement of shares(QIP). IndiGo’s decision came after taking the continues hit by second wave of Covid 19 infections on the aviation industry. The airline on Tuesday mentioned that it would consider such proposal.

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❓ What are FAANG companies? | FlipItFacts
Mon, May 10, 2021 9:00 PM

❓ What are FAANG companies? | FlipItFacts

US market is home to FAANG. FAANG is an acronym used for 5 most popular American technology companies: Facebook, Amazon, Apple, Netflix, and Alphabet (formerly known as Google). Now there is one more name that is slowly getting added to the popular FAANG list is Tesla. This is a high time for investors to go beyond their home country and safeguard themselves from volatility!

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Google makes it easier to find COVID-19 vaccine information
Mon, May 10, 2021 8:43 PM

Google makes it easier to find COVID-19 vaccine information

Search engine giant Google has taken several initiatives globally to advance its services to aid people’s understanding and knowledge about the virus and its cure. Now that India is going through an aggressive second wave of the virus for nearly three months, Google mentioned that it is working with public health services, hospitals as well as non-profit organisations to help people.

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Sebi proposed a new segregation and monitoring method of collateral
Mon, May 10, 2021 8:36 PM

Sebi proposed a new segregation and monitoring method of collateral

Markets regulator SEBI on Monday proposed a fresh method of segregation and monitoring of collateral at client level after the misuse of client collateral by trading members. Also, it has offered to create a mechanism for reporting, circulating and usage of information that contains collateral other than securities collateral received by way of pledge or re-pledge mechanism.

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China exchanges shift to iron ore, steel price rally
Mon, May 10, 2021 8:27 PM

China exchanges shift to iron ore, steel price rally

China's commodity exchanges on Monday shifted to lift trading limits and margin needs for some iron ore contracts and reinstated fees on steel futures as a intense rally for ferrous metals showed no signs of ease. China is the world's top steel supplier and largest consumer of iron ore, which is required for steel making. A recent hike in prices for the material, party due to the supply concerns.

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Now MSMEs, others can lodge a grievances for violation of orders
Mon, May 10, 2021 8:19 PM

Now MSMEs, others can lodge a grievances for violation of orders

A dedicated portal for MSMEs and other companies has been created who are participating in government procurement. They can lodge grievances for alleged violation of Public Procurement Order (Preference to Make in India), 2017. The portal publicized by the Department for Promotion of Industry and Internal Trade (DPIIT), to refer grievances of suppliers and bidders to concerned procuring entities.

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RBI promoted Jose J. Kattoor as new Executive Director
Mon, May 10, 2021 8:12 PM

RBI promoted Jose J. Kattoor as new Executive Director

The Reserve Bank of India on May 10 appointed Jose J. Kattoor as an Executive Director (ED) with effect from May 04, 2021. Kattoor was formerly leading Bengaluru Regional Office of the Bank as Regional Director for Karnataka prior becoming an ED. Kattoor has served in RBI over three decades in communication, HR management, financial inclusion, supervision, currency management and other areas.

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PNB to publicize QIP soon, base size is likely to be Rs 1,200 crore
Mon, May 10, 2021 8:03 PM

PNB to publicize QIP soon, base size is likely to be Rs 1,200 crore

Punjab National Bank to soon publicize Qualified Institutional Placement (QIP), whose base size is will be Rs 1,200 cr with an option to increase size to Rs 1,800 cr. As per the initial details, the typical offer price is likely to be Rs 33.75 per share, however, the management is yet to decide on it. Punjab National Bank reported Q4 Net Profit to Rs 948 cr QoQ.

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CRISIL improves Indel Money's credit rating
Mon, May 10, 2021 7:29 PM

CRISIL improves Indel Money's credit rating

Indel Money, a south India-based NBFC, has been recently upgraded to ‘CRISIL BBB/Stable’ from ‘CRISIL BBB-/Stable’ on the long-term bank loan services by CRISIL ratings. The rating of Indel Money on the short-term scale has also been improved to ‘A3 Plus’ from ‘A3 minus’. As per CRISIL, rating improves according to increase in company's operations with AUM.

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BioNTech COVID vaccine does not require any modification
Mon, May 10, 2021 7:22 PM

BioNTech COVID vaccine does not require any modification

German firm BioNTech, on Monday, announced that the COVID-19 vaccine it invented with Pfizer does not require any modifications currently to protect against COVID infections "Till now, there is no evidence that an adaptation of BioNTech's latest COVID-19 vaccine opposed key identified evolving variants is necessary," the company said in a statement.

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Tata Steel wisely allocating capital: No global purchase, less debts
Mon, May 10, 2021 7:02 PM

Tata Steel wisely allocating capital: No global purchase, less debts

Tata Steel’s after struggling with debt management for 2 decades after the Corus purchase at the peak of the steel cycle in 2006, it is set to make operational profits of Rs 50,000 crore this year if this steel cycle persists. Tata Steel’s debt levels which were more than Rs 1 lakh crore last year will be reduced below Rs 50,000 crore by the end of this fiscal.

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Jash Engineering gets worldwide orders worth Rs 41cr in April 2021
Mon, May 10, 2021 6:48 PM

Jash Engineering gets worldwide orders worth Rs 41cr in April 2021

Jash Engineering Limited posted combined orders worth Rs 40.72 cr in April 2021. Orders worth Rs 10.48 cr are from the domestic market and orders worth Rs 30.24 cr are from the international market. As per the company's regulatory filing, the significant participants in this order booking of April 2021 from India are Shapoorji Pallonji & Co., Indian Hume Pipe & SFC Environmental TechMumbai.

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