Retail tractor sales surged by 14.69 percent in September 2024, thanks to a strong monsoon, improved crop harvests, and a revival in the rural economy, according to data from the Federation of Automobile Dealers Associations (FADA). A total of 62,542 tractors were sold in September, compared to 54,529 units in the same month last year.
Open FlipDSP Mutual fund points out that the number of investors in small-cap funds has surpassed the number in large-cap funds. What Happened: DSP Mutual fund in its Netra report said that the number of investor accounts has grown significantly since Covid. "Loose fiscal policies, liquidity inflows and historically low interest rates fueled the credit binge in 2020 to 2022", the report said.
Open FlipAce investor Ashish Kacholia has bought a 2.52% stake in the smallcap stock Jyoti Structures, according to the shareholding pattern for quarter ended June 2024, following which the stock closed 4.8% higher at Rs 26.75 on BSE. According to the data available on BSE, Ashish Kacholia holds nearly 2.2 crore shares in the company.
Open FlipHyderabad-based communications services provider Ozonetel has made a fresh acquisition in the telecommunications sector, a top company executive told VCCircle. The artificial intelligence-powered customer engagement platform, which is backed by private equity firm Stakeboat Capital and offers services domestically and offshore both, has now acquired New Delhi-based virtual network operator.
Open FlipIndia's economy faced unprecedented changes in 2016 due to Donald Trump's presidency and demonetisation. India could have capitalized on new trade opportunities as a counterbalance to China, but was not fully prepared. Despite initial gains in chemical and engineering exports, India struggled to seize the opportunity due to domestic priorities and consumption gaps.
Open FlipTira, the omnichannel beauty platform of Reliance Retail, the retail unit of Reliance Industries Ltd, has launched the luxury skincare and haircare brand Augustinus Bader in India, the company said in a press release dated October 7. The brand, known for its advanced and award-winning formulations, is available exclusively on Tira’s platform. Augustinus Bader products are backed by over 30 years.
Open FlipAshok Leyland, the flagship company of the Hinduja Group and a leader in the medium and heavy commercial vehicle (M&HCV) segment, has commenced the delivery of 180 electric trucks, including AVTR 55T Electric and BOSS Electric vehicles, to Billion Electric Mobility. This domestic order, valued at approximately Rs 150 crores, is set to be executed by the fourth quarter of FY 2024-25.
Open FlipRealty firm Puravankara Ltd on Monday (October 7) said it has acquired a 3-acre 4-gunta land parcel in North Bengaluru through a sale deed. The newly-acquired land will be developed into a residential project. "We write to inform that Puravankara Group entity, in its normal course of business has entered into a sale deed for acquiring 3 acres 4 guntas of land parcel located at North Bangalore."
Open FlipAnother day, another similar story that played out on the Nifty. Open higher and the recovery gets sold into. The Nifty broke more key levels on the downside in Monday's session, carrying on from where it left off on Friday. The Nifty has now declined 1,500 points from its peak of 26,277 on September 27. Over ₹25 lakh crore worth of investor wealth has been wiped out and 47 index constituents.
Open FlipGoldman Sachs' global head of equity capital markets, David Ludwig, expects an improvement in the initial public offering (IPO) market as the equity rally broadens, making it easier for companies to go public. Despite a slower-than-expected start to the year, Ludwig notes that IPO discounts have narrowed and deal performance has improved.
Open FlipApple (AAPL) shares lost ground Monday after Jefferies downgraded the stock, arguing that the anticipated sales of iPhones are too high. The bank cut Apple's rating to "hold" from "buy," although it raised its price target to $212.92 from $205.00. The analysts wrote in a note to clients that "smartphone hardware needs rework before being capable of serious AI, with likely timeline of 2026/27."
Open FlipMore than 110 stock brokers including some of the top brokerages have got a showcause notice from the market regulator for continuing to associate with the algo marketplace Tradetron. Many of the brokerages had given an undertaking to the regulator that they had discontinued their association with the platform but, according to the latest notice, they had not done so.
Open FlipThe Securities and Exchange Board of India (SEBI) has extended the deadline for social enterprises registered with the Social Stock Exchange (SSE) to submit their annual disclosures and 'annual impact report' for the financial year 2023-24. Originally set for October 31, 2024, the new deadline is now January 31, 2025.
Open FlipSuraksha Diagnostic Ltd., a diagnostic chain based in Eastern India, has gained approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The regulator issued an observation letter on September 30. The IPO will feature an offer for sale of up to 19.19 million shares, each with a face value of ₹2.
Open FlipMexico's antitrust watchdog Cofece on Monday determined that corn flour and tortilla-maker Gruma can fix prices in the market, concluding following an investigation that competitive conditions in the key food segment do not exist. In its ruling, Cofece ordered that Gruma, which it said controlled between 50% and 90% of the market, should break off some of its assets.
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