After hitting a nearly one-week high on Monday, gold prices marginally declined on Tuesday amid a stronger dollar and elevated Treasury yields, as investors awaited the minutes of the last US Federal Reserve policy meeting for more clues on its interest rate cut timing.The April gold futures were trading at Rs 61,954 per 10 grams on the MCX at 11.30 am and were down by Rs 50 or 0.08% from Monday.
Open FlipReported Standalone quarterly numbers for Indergiri Finance are: Net Sales at Rs 0.22 crore in December 2023 down 47.41% from Rs. 0.41 crore in December 2022. Quarterly Net Loss at Rs. 0.46 crore in December 2023 down 263.32% from Rs. 0.28 crore in December 2022. EBITDA stands negative at Rs. 0.40 crore in December 2023 down 221.21% from Rs. 0.33 crore in December 2022.
Open FlipAhmedabad civic body seals 3,501 shops for not paying property tax and recovers Rs 6.74 crore during the drive. It also issues notices to 179 offices/businesses for underpayment of professional tax and collected Rs 17.73 lakh. SWM department fines 106 people for spitting in public places and collects Rs 10,000.
Open FlipNifty hits all-time high and breaks out of consolidation, indicating uptrend continuation. Bank Nifty also rises and has potential for further momentum. Three stocks to consider buying are JK Lakshmi Cement, Castrol India, and Mastek with bullish trends and targets of 16-17.5%. Expert advice to check with certified experts before making investment decisions.
Open FlipOn February 20, the Sensex and Nifty 50 rebounded from initial losses to trade slightly higher, aided by gains in banking stocks like HDFC Bank and Axis Bank. The market opened lower due to weak cues from Asian markets, but strong momentum and leadership from large-caps such as RIL and ICICI Bank has helped set new record highs.
Open FlipGIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a lacklustre opening on Tuesday. Here is all you need to know before the market opens. GIFT Nifty traded up by just 8.50 points or 0.04% at 22,180 indicating a lacklustre opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 ended up by 81.55 points.
Open FlipIndian stock markets are expected to open flat today amid mixed global market cues. Asian markets traded mixed as China's central bank cut the benchmark loan rate while US stock futures remained steady. Investors will look for clues on interest rate cuts from minutes of US Federal Reserve meeting. Indian indices closed higher yesterday, with Nifty 50 hitting a record high intraday.
Open FlipJSW Steel is in talks to acquire a 20% stake in Australia's Blackwater coal mine, Whirlpool of India's promoter will sell a 24% stake worth $451 million, SpiceJet has been ordered by the Supreme Court to pay its dues and Hindalco plans to achieve 30% of its energy mix from renewable sources by 2030. IREDA and PNB have signed a MoU to finance renewable energy projects and Titagarh Rail Systems.
Open FlipThe Indian stock market saw its fifth straight day of gains, with the Nifty 50 index hitting a new high before closing at 22,122. The market was boosted by strong performances in majority segments, with the BSE Sensex gaining 281 points and the Bank Nifty adding 150 points. The small-cap index outperformed the Nifty 50 index, and the advance-decline ratio remained high at 1.55:1.
Open FlipAn advisory committee recommends Indian govt bonds to be included in Bloomberg Emerging Market Local Currency Index. The process is still ongoing, with consultations and modalities being worked out. Inclusion could bring in $5 bn from passive investors and $20-30 bn from active investors. This comes after JP Morgan's announcement of including Indian sovereign bonds in its emerging markets index.
Open FlipJSW Group, led by billionaire Sajjan Jindal, is in talks with Volkswagen Group to form a joint venture for electric vehicle manufacturing in India. The two parties may enter into an exclusivity period soon to prevent negotiations with other potential partners. JSW has also signed an agreement with the Odisha government to invest ₹40,000 crore in an integrated EV and battery manufacturing project.
Open FlipHFCL shares have seen a 30% increase since the beginning of the year and are considered to be one of the top performers in the small cap category. Technical indicators show a bullish trend, with a two-year breakout on monthly charts at Rs 100 per share. Analysts predict the stock will continue to outperform the market due to its stake in group company Exicom.
Open FlipShares of Godrej Consumer Products rose on February 20 due to the company's decision to divest in Godrej East Africa Holdings for $3.5 million. This move is in line with their restructuring strategy for the East Africa region, where profitability has been low. Emkay Global maintained a positive outlook on the FMCG major and expects a 1% increase in share price with a target of Rs 1,325 per share.
Open FlipFederal Bank's shares took a hit of over 6% following the re-designation of Kotak Mahindra Bank's KVS Manian as joint MD. Federal Bank was reportedly considering Manian as a potential successor to Shyam Srinivasan. However, with the RBI rejecting an extension for Srinivasan, the bank turned to Manian. Last quarter, Federal Bank reported a 25% rise in net profit and a 61% jump in other income.
Open FlipAfter facing struggles with regulatory issues, Paytm's stock has seen a 16% increase in the last three days and reached an upper circuit limit of Rs 376.45 on BSE. Positive news related to RBI, ED, and a partnership with Axis Bank have renewed investor interest. While Jefferies has put Paytm on their list of 'Non-Rated' stocks, Morgan Stanley maintains an equal-weight rating.
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