With Nifty in a consolidating trajectory after hitting the 20,000-milestone in September, mutual funds are using the fresh inflow of funds to pick stocks from sectors like auto, utilities, consumer and insurance. AMFI data shows that money managers reduced stake in banks, IT, capital goods and metals in October. While the weight of private banks … Read more
Mumbai: Global index provider MSCI has included nine Indian stocks, including IndusInd Bank, One 97 Communications (parent entity of Paytm), Tata Motors ‘A’ (Tata Motors DVR) and Suzlon Energy, into its widely-tracked Standard Index as part of the quarterly rejig. The overall changes to the Standard and Smallcap indices could result in inflows of roughly … Read more
NEW DELHI: Crisis-hit Jaypee Group‘s flagship firm Jaiprakash Associates (JAL) will give 7.7% stake, worth Rs 366 crore at current market price, in the company to ICICI Bank to clear part of the outstanding loan.According to sources, ICICI bank has an exposure of around Rs 3,000 crore in JAL, which is into many businesses, including … Read more
NEW DELHI: Building on last week’s gains, Sensex and Nifty started the Hindu accounting year Samvat 2080 on a positive note by ending 0.5% stronger. Sensex ended 355 points higher while Nifty ended comfortably above the 19,500-zone. Buying action was more visible in the broader market as the smallcap index rallied over 1% with Welspun … Read more
The stock market has historically performed well during the festive season. Typically, increased consumer spending during the Diwali season tends to boost company revenues and profits, which results in higher stock prices. The positive sentiment and overall favorable optimism around the festivities drive investor confidence in the market. This often leads to increased buying and … Read more
With Samvat 2079 drawing to a close, a glimpse into the journey of Dalal Street investors shows a year marked by major ups and downs, but India stood strong against the global mayhem and managed to give a Diwali dhamaka! The journey since last Diwali began with benchmark indices hitting lifetime highs in December 2022, … Read more
Public sector banks, which have been outperforming their private sector peers by a wide margin over the last couple of years, continued to do so in the last quarter as well, giving handsome returns to investors. Such was the show that foreign portfolio investors (FIIs) raised their stake in 13 out of the 14 listed … Read more
The cross-border payment tie-up between Singapore’s PayNow and India’s Unified Payments Interface, the first international payment systems link to use scalable cloud-based infrastructure, is currently clocking close to 3,000 transactions a month, benefiting the Indian diaspora through a sharp reduction in remittance costs. “At present, there are around 100 transactions taking place per day. There … Read more
The Indian market is expected to open higher on Wednesday tracking positive global cues. The S&P BSE Sensex and Nifty50 closed flat but with a negative bias on Tuesday. India VIX was up by 0.83% from 11.10 to 11.19 levels. Volatility was slightly on the rise but created momentum in the index. On the weekly … Read more
MUMBAI: The stressed asset space is losing its allure for international players. Arcion Revitalization, originally promoted by Apollo Global and ICICI Bank, has become the latest firm to relinquish its license for an asset reconstruction company (ARC). In January of this year, Lonestar had surrendered its ARC license. In 2020, amid the pandemic, KKR had … Read more