Dollar mixed after Powell pushes back against March rate cut
Fri, Feb 9, 2024 10:46 AM

Dollar mixed after Powell pushes back against March rate cut

The trading day on Thursday saw the dollar steady against the euro after Fed Chair Jerome Powell pushed back against expectations of early rate cuts, and the pound recovered slightly after the Bank of England signaled a more cautious approach to easing. Meanwhile, the yen strengthened as fears over the health of U.S. regional banks renewed safe-haven demand.

Open Flip
Gujarat RERA sets February 21 as new QPR deadline
Fri, Feb 9, 2024 10:43 AM

Gujarat RERA sets February 21 as new QPR deadline

Gujarat RERA (GujRERA) extended QPR deadline to Feb 21 after complaints from developers about issues faced in migrating to new portal. Nearly 70% have completed migration; remaining issues will be fixed soon. New portal requires promoter enrollment, causing delays for some developers. 5,000 out of 7,500 developers have completed enrollment so far.

Open Flip
Chris Wood adds Airtel to India portfolio, trims stakes in RIL, HDFC Bank
Fri, Feb 9, 2024 10:42 AM

Chris Wood adds Airtel to India portfolio, trims stakes in RIL, HDFC Bank

Chris Wood of Jefferies has announced adjustments to both the India long-only portfolio and the global long-only portfolio. In the India long-only portfolio, a new investment in Bharti Airtel will be introduced, accounting for 3 percent of the portfolio. This addition will come by reducing the investment in Reliance Industries by three percentage points.

Open Flip
No LTCG tax if property redeveloped within three years: Experts
Fri, Feb 9, 2024 10:40 AM

No LTCG tax if property redeveloped within three years: Experts

At a time when an increasing number of residential properties are going for redevelopment, both homeowners and developers face ambiguity over whether such projects attract long-term capital gain (LTCG) tax or not. Experts said that societies should ensure there is a clause in the agreement with the builder that the project is completed within three years.

Open Flip
CBDC: Has RBI monetary policy injected a new life into the digital currency
Fri, Feb 9, 2024 10:38 AM

CBDC: Has RBI monetary policy injected a new life into the digital currency

RBI Governor Shaktikanta Das announced plans to make the Central Bank Digital Currency (CBDC) more appealing by programming it for specific end uses and offline functionality. This would allow for targeted digital payments in areas with low internet connectivity, such as fertiliser subsidies and reimbursements for bills and medical treatments. The pilot phase has seen modest adoption.

Open Flip
F&O Ban List: Biocon, PNB among 12 stocks under trade ban on Friday
Fri, Feb 9, 2024 10:30 AM

F&O Ban List: Biocon, PNB among 12 stocks under trade ban on Friday

Twelve stocks are under the F&O ban list on Friday, February 9 viz. Ashok Leyland, Aurobindo Bharma, Balrampur Chini, Biocon, Delta Corp, Hindustan Copper, India Cements, Indus Towers, National Aluminium Company (NALCO), Punjab National Bank (PNB), Steel Authority of India (SAIL) and UPL.Zee Entertainment Enterprises (ZEEL) has moved out of the ban.The F&O contracts of any stock enter the ban.

Open Flip
Zomato Q3 show keeps brokerages bullish on growth prospects!
Fri, Feb 9, 2024 10:22 AM

Zomato Q3 show keeps brokerages bullish on growth prospects!

Zomato, the online food aggregator, reported strong quarterly earnings with a third consecutive profit and a 69% increase in revenue. Brokerages have raised their target price on the stock, citing the positive impact of the Cricket World Cup and festive season on growth. Zomato has set medium-term growth expectations of 50%, led by its subsidiary Blinkit.

Open Flip
West Bengal: Stamp duty sop for property transfer through gift deeds
Fri, Feb 9, 2024 10:21 AM

West Bengal: Stamp duty sop for property transfer through gift deeds

West Bengal government has announced a reduction in stamp duty for property transfers by way of gift within the family to a maximum of Rs 1,000. This decision has been welcomed by experts and is seen as a positive move towards easing financial constraints, encouraging family property transfers, and promoting economic revitalization.

Open Flip
Delhi HC hints at CBI probe into illegal construction
Fri, Feb 9, 2024 10:21 AM

Delhi HC hints at CBI probe into illegal construction

Delhi High Court expresses concern about the failure of authorities to stop unauthorized construction near historically important monuments. It may order a CBI probe to investigate lapses by all authorities involved. The court notes that this lack of action could lead to complete lawlessness in the city and cause the entire system to collapse. The issue was raised in a PIL filed by an NGO.

Open Flip
Paytm dip buyers burn fingers as shares fall another 9% today
Fri, Feb 9, 2024 10:19 AM

Paytm dip buyers burn fingers as shares fall another 9% today

Paytm's shares fell by 9% on Friday as hopes for a quick solution to regulatory issues faded. The RBI has taken a tough stance against the fintech company for non-compliance and is considering canceling its license. Paytm's founder met with RBI and the Finance Minister to discuss the matter, but the uncertainty has caused a loss of Rs 22,000 crore for investors.

Open Flip
IRCTC up, signs MoU with Uttarakhand to operate tourists trains
Fri, Feb 9, 2024 10:19 AM

IRCTC up, signs MoU with Uttarakhand to operate tourists trains

IRCTC's stock price rose on February 9 after it announced a partnership with the Uttarakhand government to launch Bharat Gaurav Tourist Trains. These trains aim to bring travelers from across India to visit lesser known destinations in Uttarakhand. UTDB will cover operating costs and IRCTC will handle bookings and tour packages. The company's board will also meet on February 13.

Open Flip
Hot Stocks: Brokerage view on Page Industries, Zomato, Lupin and ITC
Fri, Feb 9, 2024 10:17 AM

Hot Stocks: Brokerage view on Page Industries, Zomato, Lupin and ITC

Brokerage firm Jefferies downgraded ITC to hold and upgraded Lupin after their Q3 results. Macquarie maintained an underperform rating for Zomato and an overweight rating for Page Industries. Jefferies believes that the factors that drove ITC's growth have played out and there is uncertainty due to upcoming budgets and BAT's plans to sell stake. Lupin's recent India growth and lack of competition.

Open Flip
At $16.5 billion a day, Indian markets outgrow Hong Kong in terms of stock
Fri, Feb 9, 2024 10:15 AM

At $16.5 billion a day, Indian markets outgrow Hong Kong in terms of stock

Indian stock trading volumes have surpassed Hong Kong's, highlighting a strong positive outlook on Indian equities despite rising concerns over valuations. This is in contrast to China's slowing growth and economic challenges. Despite potential pullbacks, experts are bullish on India's growth prospects and advise investors to remain positive.

Open Flip
Sensex flat amid firm global cues, Nifty needs to reclaims 22,000!
Fri, Feb 9, 2024 10:14 AM

Sensex flat amid firm global cues, Nifty needs to reclaims 22,000!

Indian benchmark indices the Sensex and the Nifty started February 9 trade a tad higher supported by gains in heavyweights such as Bajaj Finance, Reliance Industries, SBI, TCS, Titan, and Asian Paints. The market would continue to trade sideways in the near-term, with the Nifty moving within a broad range of 500-600 points. The level of "21,500 should act as a strong support zone.

Open Flip
Paytm stock falls 8%; fintech to acquire e-commerce startup amid payment.
Fri, Feb 9, 2024 10:13 AM

Paytm stock falls 8%; fintech to acquire e-commerce startup amid payment.

Paytm's shares fell by 8% on February 9 after reports of its acquisition of Bengaluru-based Bitsila. The stock had already closed 10% lower the previous day and has been under pressure since RBI directed Paytm Payments Bank to stop certain transactions from Feb 29. The company is currently finalizing the deal with Bitsila, the third largest seller side platform on ONDC.

Open Flip

Join our Smart Investment Community

More than 2 Million users are using FlipItMoney to stay updated about the business and finance world! Join FlipItMoney now and take smart investment decisions!
Icon