📊Aster DM Healthcare shares have moved out of a falling trendline resistance drawn from the highs of August 2021. Even the RSI on the weekly scale is improving after forming a bullish hinge at the 40 mark. 🔔In this situation, analysts suggest the stock may reach an upside towards Rs 218 followed by Rs 235 levels. However, investors should maintain a strict stop-loss at Rs 188.
Open FlipIndia is the top global producer of wheat after China and has the potential to ship 12 million tons to the world market in the 2022-23 years. Analysts have referred to the brimming warehouses with grain and the country’s farmers are gearing up for yet another record harvest. According to U.S. Department of Agriculture data, it compares with shipments of 8.5 million tons in 2021-22.
Open Flip✅ SGX Nifty improved by 1.2% to 17,423.8 points as of 6:10 am. ✅ Asian equities gained on Tuesday after a climb in U.S. equities. ✅ WTI crude was trading at about $105 a barrel, on concerns that China’s mobility curbs against Covid will sap demand. ✅ Fabmohur Advisors offloaded 3.36 lakh (1.09%) shares of MTAR Tech at Rs 1769.14 apiece. ✅ The rupee ended at 76.17 against the USD on Monday.
Open Flip📊 Gujarat Alkalies has finally come out of its six-month consolidation with strong volumes indicating the initiation of a new bullish trend. Even the RSI (relative strength index) indicator of the stock has broken above the 70 mark implying a robust bullish momentum. 👉In this situation, analysts recommend holding the stock and expect an upside towards Rs 1,010 followed by a Rs 1,120 level.
Open FlipAfter launching its business in India in November 2021, Singapore-based e-commerce major Shopee has decided to discontinue all its operations in India. The company cited the global market uncertainties as the reason for shutting down operations. Shopee also informed employees of the shutdown in an all-hands company-wide meeting on Monday.
Open FlipA federal judge dismissed long-running litigation accusing seven U.S. stock exchanges of defrauding ordinary investors on Monday. In the mentioned case, bourses including the New York Stock Exchange, Nasdaq and BATS Global Markets were accused of providing high-frequency trading firms with enhanced data feeds and faster order processing, bypassing ordinary investors.
Open FlipU.S. crude futures extended losses on Tuesday as they plunged in the early trade on the possibility of a heavy decline in fuel demand as Shanghai shut down to curb a surge in COVID cases and as Ukraine and Russia headed for peace talks. U.S. West Texas Intermediate (WTI) crude futures settled down at $103.46 a barrel shortly after opening and were down $2.09, or 2%, at $103.87 at 2236 GMT.
Open FlipMultiple mid-and small-cap stocks appeared among the top holdings of equity mutual funds. Currently, these stocks are in focus as the current financial year comes to an end on March 31. There is also speculation that mutual funds will buy more of these shares to improve their performance which is based on the net asset value (NAV) of the products as of March 31.
Open FlipPrices of Petrol have crossed Rs 100 a litre mark after rates were hiked by 80 paise a litre and 70 paise in case of diesel, taking it to Rs 4.80 per litre in one week. In Delhi, Petrol will be retailed at Rs 100.21 per litre as compared to Rs 99.41 earlier while diesel rates have gone up from Rs 90.77 per litre to Rs 91.47, as per a price notification of state fuel retailers.
Open FlipUSD 1.8 billion have been announced by US President Joe Biden on Monday to support his Indo-Pacific Strategy along with another USD 400 million to counter the malign Chinese behaviour. More specifically, USD 1.8 billion is for American leadership in defending democracy, freedom, and security worldwide to support a free and open, connected, secure, and resilient Indo-Pacific Region.
Open FlipAn expression of interest (EoI) has been submitted by Darwin Platform Group chairman Ajay Harinath Singh to acquire Reliance Capital. The latter is recently undergoing an insolvency process. However, Ajay Harinath has made the bid to expand his portfolio in the non-banking finance sector in his personal capacity. Notably, Reliance Capital secured a total of 54 EoIs from prominent bidders.
Open FlipAs shoppers in Australia fought storms and coronavirus waves to return to cafes and department stores, it resulted in Australian retail sales beating forecasts again in February for the second-best month ever of spending. According to the data, retail sales jumped 1.8% in February from the previous month to A$33.1 billion ($24.76 billion), handily beating forecasts of a 1.0% gain.
Open FlipTesla's Monday announcement that it will seek shareholder approval to increase its share count has brought it among the recent wave of mega-cap companies splitting their shares in a bid to attract more investors. In the past two years, Apple, Nvidia and Tesla have split their shares. Additionally, Amazon and Google-parent Alphabet have recently revealed their upcoming share splits.
Open FlipLondon Bullion Market Association and the World Gold Council are betting that the blockchain will help to keep unlawful bullion bars out of the international market. These bodies are mulling to develop a digital system to track gold via the supply chain. In a joint statement on Monday, they said the Gold Bar Integrity Programme will capture the transaction history of bullion from mine to vault.
Open FlipIndian American Raj Subramanian has been appointed as the new CEO of the US multinational courier service major--FedEx. Subramanian is expected to replace Frederick W Smith, who is going to step down from this position on 1st June 2022. Notably, Subramaniam was elected to the FedEx Board of Directors in 2020. Even after this fresh appointment, he will maintain his seat on the Board.
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