Vedanta appoints Omar Davis as its President-Strategy
Thu, Mar 16, 2023 2:43 PM

Vedanta appoints Omar Davis as its President-Strategy

Today, Anil Agarwal-led Vedanta declared the appointment of Omar Davis as its President-Strategy. Davis will work closely with Vedanta chairman Agarwal to lead the group's strategic endeavors and will be based out of the group's London office. Davis has an experience 25 years in the industry, As per Vedanta's statement.

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Federal Bank share rebounds, when should you buy?
Thu, Mar 16, 2023 2:41 PM

Federal Bank share rebounds, when should you buy?

Federal Bank's share price recovered from its intraday low of ₹124.55 and hit an intraday high of ₹127.15 per share owing to the announcement of plans to raise ₹1,000 crore via bonds. The board of directors will review the fund raise proposal at their meeting on 18th March 2023. The stock is trading in the range of ₹120 to ₹134, and any dip towards ₹120 is a good buying opportunity for investors.

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RBI can raise rates again at the MPC session in April
Thu, Mar 16, 2023 2:41 PM

RBI can raise rates again at the MPC session in April

As per members of the Economic Advisory Council (EAC) to the Prime Minister, the RBI is likely to propose one more rate hike at its next meeting of the monetary policy committee in April given that India's headline inflation rate is still stuck at around 6% & the central bank is also keeping an eye on the stability of the rupee, volatility in the US markets & the impending decision of the Fed.

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Sebi renews recognition to AMC Repo Clearing Ltd. for one year
Thu, Mar 16, 2023 2:30 PM

Sebi renews recognition to AMC Repo Clearing Ltd. for one year

SEBI has renewed the recognition of AMC Repo Clearing Ltd as a clearing corporation for one year, beginning on January 17, 2023 and ending on January 16, 2024, to clear and settle transactions in repo and reverse repo in the debt securities. It is authorised to clear and settle transactions in repo and reverse repo in debt securities that are only traded on a recognised stock exchange.

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Industries accumulating coal in preparation for the summertime crisis
Thu, Mar 16, 2023 2:30 PM

Industries accumulating coal in preparation for the summertime crisis

Indian Industries, including those that create metal & paper, are storing coal to prevent shortages this summer when heat waves are expected to boost demand for the nation's primary fuel for electricity generation. Despite recent advances in supplies to non-power industries, companies continue to be cautious about shipments reducing as demand from power plants soars during the hot season.

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Man Industries' shares hit one-month high on order win worth Rs 1,300 cr
Thu, Mar 16, 2023 2:26 PM

Man Industries' shares hit one-month high on order win worth Rs 1,300 cr

Today, shares of Man Industries (India) reached over a one-month high after the company received an export order worth Rs 1,300 crore. The order win will further aid the carbon steel pipe manufacturer's order book, which stands at Rs 2,000 crores. Company's shares trading 5.97% higher at Rs 90.50. Eight lakh shares exchanged hands on the bourses as compared to the one-month daily traded.

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Zee shares soar 8% following news of IndusInd Bank debt repayment
Thu, Mar 16, 2023 2:23 PM

Zee shares soar 8% following news of IndusInd Bank debt repayment

Zee Entertainment Enterprises Limited (ZEEL) shares rose 8.28% during intraday trading on Thursday after the business announced it would pay back debts owing to IndusInd Bank Ltd. Around 83.7 cr in unpaid debt to the private lender could be settled as soon as this Friday, and IndusInd Bank has promised to drop its insolvency case against Zee provided the debt is paid.

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More than half stock market participants fail to beat Nifty
Thu, Mar 16, 2023 2:15 PM

More than half stock market participants fail to beat Nifty

A survey conducted by Nielsen found that 67% of stock market participants fail to outperform the Nifty equity benchmark. The reasons for this under-performance include lack of a trading system, emotional trading, reliance on tips and financial influencers, and excessive leverage. The survey of 2,000 investors and traders aged 24-45 years also found that 65% of them were unaware of their returns.

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A solid growth is seen in these stocks; do you hold them
Thu, Mar 16, 2023 2:10 PM

A solid growth is seen in these stocks; do you hold them

On the day of weekly expiry, Nifty 50 began flat at 16,994.65, compared to its previous closing of 16,972.15. The stocks listed below are experiencing a solid positive breakout: 👉 Aurobindo Pharma Ltd. 👉 Adani Transmission Ltd. 👉 Reliance Industries Ltd. 👉 Adani Enterprises Ltd. 👉 Bharti Airtel Ltd.

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Credit Suisse shares surge 40% following central bank lifeline
Thu, Mar 16, 2023 2:09 PM

Credit Suisse shares surge 40% following central bank lifeline

Credit Suisse Group AG shares rose up to 40% after Switzerland's central bank intervened to rescue the institution, sparking a rise in bank stocks across Europe and alleviating market fears about the firm's problems. The Euro Stoxx Banks Index was up 3.5% at 9:09 a.m. in Paris, after falling 8.4% on Wednesday, the biggest since March 2020, on rising fears about Credit Suisse's health.

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Shares of Godawari Power and Ispat have risen on probable buyback plans
Thu, Mar 16, 2023 2:06 PM

Shares of Godawari Power and Ispat have risen on probable buyback plans

Godawari Power and Ispat shares rose on March 16 after the business declared that at its March 18 board meeting, it may propose a buyback of equity shares. If authorised, this will be the steelmaker's first share repurchase proposal. At 12:49 p.m., shares of Godawari Power and Ispat were trading 2.54% higher at Rs 383. In addition, the stock reached an intraday high of Rs 386.65.

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Credit Suisse receives "Karma" jabs on Twitter- An Adani Moment!
Thu, Mar 16, 2023 2:00 PM

Credit Suisse receives "Karma" jabs on Twitter- An Adani Moment!

Credit Suisse, the Swiss global investment bank, faced criticism on Twitter after its long-standing issues escalated into a crisis on Wednesday. People compared the situation to the Adani Group fiasco, calling it "karma". Credit Suisse had previously announced that it would no longer accept bonds as collateral for margin loans of some of the Adani Group entities.

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This steel company decided to buy back its shares
Thu, Mar 16, 2023 2:00 PM

This steel company decided to buy back its shares

Steel manufacturing company Godawari Power & Ispat Ltd may buy back its shares. It will be decided in the board meeting of the company, which will be held on March 18, 2023. According to experts keeping an eye on this stock, a buyback announcement can see a boom in the company's shares. Let us tell you, there has been a rise of 2.17% in the company's share prices.

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Russian rouble drops against the dollar to nearly 11-month low
Thu, Mar 16, 2023 2:00 PM

Russian rouble drops against the dollar to nearly 11-month low

On Thursday, amid shaky market sentiment due to worries about a worsening crisis for banks globally, the Russian rouble dropped towards its worst record versus the dollar in almost 11 months. With Credit Suisse at the epicentre of a panic that was halted by a $54 bn lifeline from the Swiss central bank, the collapse of SVB last week in the US spread to European markets.

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India reached over 700 million daily internet users in 2022
Thu, Mar 16, 2023 1:41 PM

India reached over 700 million daily internet users in 2022

According to Nielsen's India Internet Report 2023, there are over 700 million active internet users in India who are two years old & older. In comparison to the 295 million active internet users in metropolitan areas, the number of rural users climbed by 44% to 425 million in 2022. Male users increased by about 18%, while the number of female users increased by 27%.

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