Multibagger NBFC stock to trade ex-split tomorrow
Wed, Apr 12, 2023 4:06 PM

Multibagger NBFC stock to trade ex-split tomorrow

Multibagger Mufin Green Finance will trade ex-split on Thursday. The company had previously announced a 1:2 stock split. Mufin Green shares were trading 0.27% higher at Rs 244 on the BSE today in the afternoon. In the last year, the stock has increased 267%, providing investors with multifold returns. The stock has increased by a whopping 1,188% in the last five years.

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Zerodha to form JV with Smallcase for mutual fund foray
Wed, Apr 12, 2023 4:00 PM

Zerodha to form JV with Smallcase for mutual fund foray

Zerodha will enter the mutual fund market through a joint venture (JV) with Smallcase. Nithin Kamath, the founder and CEO of Zerodha, verified the development on Twitter. Zerodha will concentrate on developing low-cost passive mutual fund solutions. In September 2021, Zerodha gained in-principle clearance from the Securities and Exchange Board of India (Sebi) for its mutual fund application.

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📢Sensex surges 235 points at close; Nifty above 17,800
Wed, Apr 12, 2023 3:41 PM

📢Sensex surges 235 points at close; Nifty above 17,800

📊 Domestic benchmark indices closed on a positive note amid positive global cues on April 12. 📢 At 3:30 PM, the Sensex gained 235.05 points or 0.39% at 60,392.77, and the Nifty was higher by 90.10 points or 0.51% at 17,812.40. 📊Among sectoral indices, heavy buying was noticed in Nifty Pharma (⬆2.23%). However, Nifty PSU Bank (⬇0.64%) witnessed selling pressure.

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PhonePe secures another $100 million from General Atlantic and others
Wed, Apr 12, 2023 3:30 PM

PhonePe secures another $100 million from General Atlantic and others

PhonePe, digital payments and financial services decacorn, has secured another $100 Mn from General Atlantic and its co-investors in a fresh tranche of its ongoing $1 Bn fundraising at a pre-money valuation of $12 Bn. The fintech startup has raised $350 Mn from General Atlantic, $100 Mn from Tiger Global Management, Ribbit Capital, and TVS Capital, and $200 Mn from Walmart.

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A large-cap stock is recommended by JM Financial and 3 other brokers! 💸
Wed, Apr 12, 2023 3:15 PM

A large-cap stock is recommended by JM Financial and 3 other brokers! 💸

A number of top brokers, including JM Financial, are recommending a mid-cap stock for investment. With FlipItPro, you can easily access the insights and projections from JM Financial and more than 60 other SEBI-endorsed brokers. Upgrade to the Pro version today and start making informed trading decisions.

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A stock gains on approval of shares sale via an IPO
Wed, Apr 12, 2023 3:10 PM

A stock gains on approval of shares sale via an IPO

Ram Ratna Wires, a leading manufacturer of high-quality winding wires, received board approval on Wednesday to sell over 13.64 lakh equity shares in R R Kabel via an IPO. On Dalal Street, Ram Ratna's stock rose by more than 6% during the day. The equity shares for sale each have a face value of Rs. 5. Ram Ratna's stake in the R R Kabel IPO will be sold through OFS.

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Dolly Khanna acquires a 1.3% stake in Som Distilleries
Wed, Apr 12, 2023 3:00 PM

Dolly Khanna acquires a 1.3% stake in Som Distilleries

Dolly Khanna added Som Distilleries & Breweries to her stock portfolio during the March quarter. According to Trendlyne data, Khanna's ownership was 1.29% or 953,603 shares at the end of March 2023, valued ₹15 Cr. Khanna reduced her holding in Rama Phosphates to less than 1% in the March quarter, down from 1.5% in the December quarter. She owned 1.54% of Rama Phosphates by the end of Q3FY23.

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Shares of Infosys jump more than 1% ahead of Q4 reports
Wed, Apr 12, 2023 2:45 PM

Shares of Infosys jump more than 1% ahead of Q4 reports

Shares of Infosys increased during Wednesday's trading session, a day before the IT giant is due to release its financial results for Q4FY23 on Thursday, 13 April. The stock was trading 1.33% higher at ₹1,424.90 per share at 02:15 PM. On 13 April 2022, the stock reached a 52-week high of 1759.45 and a 52-week low of 1355.5 on 26 September 2022.

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Massive FII inflows nudge the bulls on D-St!
Wed, Apr 12, 2023 2:39 PM

Massive FII inflows nudge the bulls on D-St!

Domestic benchmark indices rose for the 8th consecutive session on Wednesday, extending their winning streak to the longest since November 2022, thanks to nearly $1 billion in inflows from FIIs. In the last eight sessions, FIIs have made a comeback and become buyers. They bought the most in the last three days of March, when they poured in nearly half of the total money in the eight sessions.

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European stocks have remained subdued ahead of US inflation data
Wed, Apr 12, 2023 2:30 PM

European stocks have remained subdued ahead of US inflation data

European stocks fell on Wednesday as investors remained cautious ahead of US inflation data, which is expected to provide additional insight into the Federal Reserve's policy decision next month. The STOXX 600 index for Europe as a whole rose 0.1%. Utilities led the way with a 0.70% gain, while technology stocks fell 1.0%. After rebounding the previous session, miners fell 0.4%.

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RBA to extend rate halt through year-end, likely done hiking
Wed, Apr 12, 2023 2:15 PM

RBA to extend rate halt through year-end, likely done hiking

The RBI will likely leave interest rates constant at least until the end of the current fiscal year as it assesses the delayed impact of past hikes on economic growth and high inflation. The central bank startled nearly every observer last week by keeping the repo rate constant at 6.50% after six consecutive hikes, implying that additional rate hikes could be considered if necessary.

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Coal India surges 30% in 12 months, Analysts sees ₹260 target
Wed, Apr 12, 2023 2:03 PM

Coal India surges 30% in 12 months, Analysts sees ₹260 target

Coal India Ltd has announced good volume growth for FY23, slightly above its production volume projection of 700 MT. ICICI Direct anticipates that high-volume traction would continue in the future. As a result, the brokerage has upgraded the company from 'Hold' to 'Buy,' with a target price of 260, 4.5 times FY24E EV/EBITDA, representing a 17% upside potential from current market levels.

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India, France discuss progress on India-EU trade pact
Wed, Apr 12, 2023 1:43 PM

India, France discuss progress on India-EU trade pact

Trade ministers from India and France met to discuss the ongoing negotiations for a FTA between India and the European Union. Piyush Goyal emphasised that by breaking down language barriers, trade can be expanded even further. He also stated that India plans to buy 2,000 commercial aircraft over the next ten years, and that there is a huge opportunity to manufacture commercial aircraft in India.

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SimpliContract secures $3.5 Mn led by Emergent Ventures
Wed, Apr 12, 2023 1:35 PM

SimpliContract secures $3.5 Mn led by Emergent Ventures

SimpliContract, a SaaS firm, has raised $3.5 Mn in a Pre-Series A round led by Emergent Ventures. The financing was led by Kalaari Capital, Picus Capital, Foster Ventures, Leslie Ventures, and Sentinel Ventures. SimpliContract intends to use the cash for business growth and expansion in the United States and Europe, with an emphasis on improving sales, marketing, and product offerings.

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Prabhudas Lilladher forecast estimates for SBI in Q4
Wed, Apr 12, 2023 1:16 PM

Prabhudas Lilladher forecast estimates for SBI in Q4

Prabhudas Lilladher has released its fourth-quarter earnings forecasts for the Banking industry. SBI is expected to report a net profit of ₹15,477.3 Cr, up 69.8% YoY (up 9% QoQ). Net Interest Income will rise by 29.5% YoY (up 6.1% QoQ) to ₹40,385.8 Cr. Pre-Provision Operating Profit is expected to increase by 30.4% YoY (up 1.9% QoQ) to ₹25,701.8 Cr.

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