Rupee fell to fresh all-time lows after consolidating in a narrow range for the last few months as the dollar index rebounded from its recent lows and is now headed to test level of 105. Also, the Chinese Yuan fell to the lowest level in three-months following expectation that the PBoC could announce more stimulus measures to stimulate the economy.
Open FlipDividend stock 2024: The board of directors of ESAB India is soon going to consider and approve the proposal for payment of interim dividends to its eligible shareholders. The company board is expected to decide in this regard in its meeting scheduled today. As per the information available on the BSE website, this would be the second interim dividend (if approved by the company board).
Open FlipShare prices of Cipla and Sanofi India were trading higher in the early trade on March 27 after the companies entered into distribution agreement for Sanofi's central nervous system product range. At 9.28am, Cipla was quoting at Rs 1,475.10, up Rs 3.40, or 0.23 percent, and Sanofi India was quoting at Rs 7,908.55, up Rs 197.70, or 2.56 percent, on the BSE.
Open FlipKotak Securities initiated coverage on Gravita India with a buy rating as the brokerage sees the company benefitting from a series of government policies. The brokerage issued a target price of Rs 1,200 per share, implying an upside of around 29.75 percent from the previous session's closing price. Follow our market blog to catch all the live updates.
Open FlipEquirus Wealth managing director and CEO Abhijit Bhave thinks uncertainty over elections, government policies, regulatory changes and geopolitical tensions can threaten market stability this year, as he doesn’t rule out a “big correction”. Bhave, who has spent more than 25 years in financial services industry, tells Moneycontrol that in FY25, investors should have more of largecaps.
Open FlipShyam Metalics & Energy share price rose 2 percent in early trade on March 27 after the company received composite licence for Surjagad-1 iron ore block in Maharashtra. At 09:28am, Shyam Metalics & Energy was quoting at Rs 614.20, up Rs 14.35, or 2.39 percent, on the BSE. The joint venture company, Natural Resources Energy Private Limited (NREPL), received the Letter of Intent.
Open FlipGoldman Sachs has reiterated a ‘buy’ rating on Reliance Industries Ltd, with as much as a 54 percent upside by FY26 in its bull case, citing favourable risk-reward dynamics, value unlocking from its Disney joint venture, and enhanced return on capital investments. With the capex cycle in two capital-intensive businesses, retail and Jio Telecom, reaching its peak.
Open FlipCentral Depository Services (India) Ltd (CDSL) share price slumped over 6% on Wednesday's session, following reports that Standard Chartered Bank intends to exit its investment by selling its entire ownership through a block deal. A term sheet that Mint examined indicated that the bank will sell 7.5 million shares, or 7.18% of its holdings in CDSL.
Open FlipShares of ABB India jumped 7% in today's early trade to touch a new all-time high of ₹6,341.90 apiece after the global brokerage firm UBS in its latest report lifted the target price on the stock to ₹7,550 apiece from an earlier price target of ₹5,380, citing a high double-digit growth across domestic and export orders from motion and low-voltage EP segments with a steady ramp-up in OPMs.
Open FlipShares of Aster DM Healthcare slipped over 6 percent after 5.1 crore shares, representing an 10.1 percent stake, in the company changed hands on the bourses on March 27 morning. Though the buyers and sellers were not immediately known, Moneycontrol wrote a day earlier that private equity firm Olympus was looking to sell nearly 10 percent of its stake in Aster DM Healthcare through a block deal.
Open FlipHigh-frequency traders were active in Axis Bank, Dr Reddy's Laboratories, and Larsen & Toubro counters on March 26. Axis Bank and L&T closed higher. High-frequency trading firms (HTFs) – or algo firms on steroids –use complex algorithms and powerful computers to execute trades at lightning speeds. These firms typically try to capture the spread between the spot and futures prices.
Open FlipU.S. stocks slipped on Tuesday, giving up modest gains late in the session to send the Dow and S&P 500 to their third straight decline, as investors awaited economic data in a holiday-shortened week to gauge the Federal Reserve's policy path. Stocks struggled for upward momentum even as Tesla gained 2.92% after CEO Elon Musk unveiled the electric-vehicle maker's one-month trial of its Full Self.
Open FlipThe yen dwindled near the 150 per dollar level on Tuesday but held its ground ahead of a pivotal policy decision from the Bank of Japan (BOJ), while the U.S. dollar towered over its peers as bets for early rate cuts there were trimmed. Rate decisions from the BOJ and the Reserve Bank of Australia (RBA) come under the spotlight in the Asia day, and currency moves were subdued early on Tuesday.
Open FlipOn Tuesday, the benchmark index opened with a gap down of around 149 points and rose almost 57 points towards closing. The Nifty ended 92 points lower, while the Sensex was down by 361 points. Among sectors, the Nifty Media Index led the fall, with the realty stocks doing slightly better trading on a positive note. Some IT stocks witnessed profit booking in Tuesday's session.
Open FlipGold prices held firm on Wednesday, supported by lower U.S. Treasury yields, although bullion traded in a narrow range as investors stayed on the sidelines awaiting more cues on the Federal Reserve policy. FUNDAMENTALS * Spot gold was steady at $2,178.31 per ounce, as of 0125 GMT, following two session on gains. * U.S. gold futures edged 0.1% lower to $2,173.70 per ounce.
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