3 risks that could derail market rally on D-St post Interim Budget
Mon, Feb 5, 2024 1:35 PM

3 risks that could derail market rally on D-St post Interim Budget

We are in a bull market. The Nifty50 has tripled from the March 2020 Covid low of 7511 giving excellent returns to investors. After setting new records in early 2024, the market has turned highly volatile.More volatility is in store since there are inherent fundamental strengths that can support the market along with potential negative triggers that can pull the market sharply down.

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IPO rush: 66 issues targeting Rs 72,000-crore lined up for FY25
Mon, Feb 5, 2024 1:34 PM

IPO rush: 66 issues targeting Rs 72,000-crore lined up for FY25

Analysts predict a robust IPO market in the current financial year and the next, with over Rs 72,000 crore in securities headed for the primary market. 25 companies have received SEBI's approval to raise about Rs 27,190 crore, and another 41 are waiting for a nod to raise a total of Rs 45,576 crore. The upcoming general elections are expected to be a major trigger for both primary and secondary.

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Sebi proposes to make nominations in financial assets simpler
Mon, Feb 5, 2024 1:33 PM

Sebi proposes to make nominations in financial assets simpler

Sebi proposed revisions to current nomination processes for demat accounts and mutual funds in order to streamline the process of transmission of assets to surviving family members after an investor's death. The consultation paper suggests doing away with the requirement of mandatory nomination for joint holdings, allows specifying successive nominees, and gives an option for temporary/permanent.

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Sunac China and CIFI Holdings say projects get local government support
Mon, Feb 5, 2024 1:32 PM

Sunac China and CIFI Holdings say projects get local government support

Chinese property developers Sunac China and CIFI Holdings have had some of their projects recommended by local governments for financing support, along with other defaulted developers. This comes amid a "project whitelist" mechanism aimed at injecting liquidity into the struggling real estate sector. While this may ease cashflow pressure for these developers, banks' reluctance to lend remains.

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Birlasoft launches its generative AI platform Cogito
Mon, Feb 5, 2024 1:32 PM

Birlasoft launches its generative AI platform Cogito

Information technology firm Birlasoft on February 5 launched its Generative artificial intelligence (Gen AI) platform Cogito to deliver enterprise solutions to automate processes, generate innovative content, enhance decision-making, and boost overall business performance. "Birlasoft Cogito streamlines and expedites the development and implementation of Gen AI solutions for enterprises.

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Govt transfers 3 indigenously developed technologies to 12 businesses
Mon, Feb 5, 2024 1:31 PM

Govt transfers 3 indigenously developed technologies to 12 businesses

Three indigenously developed technologies — thermal camera, CMOS camera, and fleet management system — have been transferred to 12 industries in India. At the launch of the 'Digital India FutureLABS Summit 2024' at IIIT-Delhi campus, the technologies designed and developed by the Centre for Development of Advanced Computing (CDAC), under InTranSE Programme of the Ministry of Electronics.

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Multibagger Spectrum Electrical Industries hits record high!
Mon, Feb 5, 2024 1:31 PM

Multibagger Spectrum Electrical Industries hits record high!

Shares of Spectrum Electrical Industries hit a record high on February 5, reaching an intraday high of Rs 1,697.95 per share. The surge came after the company announced the approval of its wholly-owned subsidiary, which will focus on developing and manufacturing medical devices. This move is part of the company's plan to diversify its operations. While the stock has seen a significant.

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Aster DM Healthcare to add 1,500 beds in 3 years, lines up Rs 850 crore.
Mon, Feb 5, 2024 1:30 PM

Aster DM Healthcare to add 1,500 beds in 3 years, lines up Rs 850 crore.

Aster DM Healthcare, a leading multispecialty hospital chain in India, plans to add 1,500 beds in the next 2-3 years, with a budget of Rs. 800-850 crore. This will increase their total bed count to over 6,000 beds, including new hospitals in Thiruvananthapuram and Kasargod. The company is also exploring expansion opportunities in Maharashtra, Tamil Nadu, and Uttar Pradesh.

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Apple set for robust 2024 in India as iPhone sales continue to soar!
Mon, Feb 5, 2024 1:30 PM

Apple set for robust 2024 in India as iPhone sales continue to soar!

Apple is expected to have a successful year in India, with double-digit growth in iPhone sales driven by better financing options and the trend towards more expensive premium smartphones. Analysts predict that Apple's market share in India could increase from 6% to 8-10% by 2024, potentially making it one of the top five smartphone brands in the country. Focus on both consumer and enterprise.

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NCLT admits Vadraj Cement for insolvency process
Mon, Feb 5, 2024 1:29 PM

NCLT admits Vadraj Cement for insolvency process

After being stuck in liquidation for over 5 years, Vadraj Cement has been shifted to the National Company Law Tribunal for debt resolution. Adani Group, UltraTech Cement and JSW Cement are expected to bid for the company. The Bombay High Court had ordered winding up but it was recalled in 2023. EY-backed Pulkit Gupta has been appointed as interim resolution professional.

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Interim Budget puts spotlight on three key priorities
Mon, Feb 5, 2024 1:28 PM

Interim Budget puts spotlight on three key priorities

In her presentation of the Interim Budget 2024, Finance Minister Nirmala Sitharaman emphasized three key signals: sustained focus on capital expenditure (capex), commitment to fiscal discipline for private investment, and promoting macroeconomic stability. This includes an increase in capex spending by 11.1% and a reduced fiscal deficit target of 5.1% of GDP for FY25.

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Gurugram: Buyback & rebuild offer extended to Chintels Paradiso phase-II.
Mon, Feb 5, 2024 1:28 PM

Gurugram: Buyback & rebuild offer extended to Chintels Paradiso phase-II.

Chintels India, the developer of Paradiso housing society, has extended their compensation offer to phase 2 flat owners. They have written to the RWA to gauge interest in the offer and plan to demolish and rebuild towers in the project with approvals from authorities. Flat owners in phase 1 have been given two options - a payout of Rs. 6,500 per sqft or reconstruction at a cost of Rs. 1k per sq ft

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UPL's weaker-than-expected Q3 earnings triggers downgrades
Mon, Feb 5, 2024 1:27 PM

UPL's weaker-than-expected Q3 earnings triggers downgrades

Agrochemical player UPL reported second straight quarterly loss in the April-December period as it struggled with weak demand, inventory destocking and falling prices. The company's weaker-than-expected not only has brokerages cautious about its growth outlook but also triggered another round of downgrades for the stock. The company reported a net loss of Rs 1,217 crore.

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Shipping Corp Land and Assets listing likely within a month!
Mon, Feb 5, 2024 1:27 PM

Shipping Corp Land and Assets listing likely within a month!

The listing of the shares of Shipping Corporation of India Land and Assets (SCILAL) on stock exchanges is likely to be completed within a month as the Board has been set up and hurdles around the stamp duty exemption sorted, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said. “I think within a month it (SCILAL) will be listed.

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Will Paytm stock recoup losses today after 36% fall?
Mon, Feb 5, 2024 1:26 PM

Will Paytm stock recoup losses today after 36% fall?

Investors in Paytm will be closely monitoring the stock's performance today to see if it can recover some of the losses incurred in the last two sessions. The stock has fallen 36% due to consecutive lower circuits triggered by RBI restrictions on its payments bank unit. As of Friday's closing, Paytm's stock price has fallen from Rs 761.4 to Rs 487.2. Follow our market blog for live updates.

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