NSE indices shakeup to trigger $633 million inflows for 5 PSU stocks
Benchmarks use a straightforward rule of reward and reprimand for periodic asset adjustments: high-performing stocks are included, while underperformers are removed. This rebalancing ensures that an index accurately mirrors its intended market segment. The NSE Indices Committee has recently announced the September 2024 semi-annual reshuffle, impacting major indices.
Time ripe for next round of big reforms to attract manufacturers: Experts
Some experts suggested steps include creating world-class, export-oriented industrial hubs (where India is a laggard), ringing in favourable tax treaties with the country’s top trading partners, bolstering logistics infrastructure (including connectivity with ports), encouraging sector-specific skill development, targeting high-volume local production of capital goods and investing in smart manufacturing facilities.
India has potential to become $ 55 trillion economy by 2047, says IMF Executive Director Subramanian
Krishnamurthy V Subramanian of the IMF stated that Hyderabad, India could potentially become a USD 55 trillion economy by 2047. During his book launch at Indian School of Business, he highlighted that with 8% growth and solid government policies, India could achieve this by leveraging financial inclusion and infrastructure investments.
Rupee slips to record closing low, tracking decline in Asia FX
The Indian rupee slipped to its weakest closing level on Monday, pressured by a decline in its Asian peers while likely intervention by the Reserve Bank of India ensured the currency did not weaken more.
Saraswati Saree Depot IPO sails through on Day 1 on strong NII, retail bidding
The IPO of Saraswati Saree Depot was fully subscribed within hours of its launch today, with a subscription rate of 2.46 times. Retail and non-institutional investors were the primary contributors, with the retail portion subscribed 3.34 times. The company fixed a price band of Rs 152-160 per share. Analysts advise high-risk investors to consider this […]
Tech Picks: Bajaj Auto among 5 stocks set for a short-term 35% jump
The Nifty 50 and S&P BSE Sensex both declined last week, falling 1.4% and 1.6%, respectively, as concerns about a potential US recession drove investors toward safer assets. Despite this, analysts have identified several stocks with promising technical setups, suggesting potential gains of up to 35% in the near term. Here are five tech picks:
RVNL shares surge 10%, recover after decline post Q1 results
RVNL shares spiked 10% to Rs 569.6 after an 8.4% decline following its Q1 results, which reported a 35% drop in net profit and a 27% fall in revenue. Despite this, shares rebounded by 9.3% by 11:30 am. Technical indicators show mixed signals, with the stock trading above several SMAs.
Buy, Sell or Hold: Here’s what brokerages said on LIC post 9% uptick in Q1 PAT
LIC Share Price: LIC reported a consolidated net profit of Rs 10,544 crore for the first quarter ending June 2024, reflecting a 9% increase from Rs 9,635 crore in the same quarter last year. During the quarter, net premium income rose by 16% year-on-year to Rs 1.14 lakh crore, compared to Rs 98,755 crore in […]
Positron Energy IPO opens today: Check issue size, price band, GMP and other details
The oil and gas sector is among the eight core industries in India and plays a major role in influencing the decision-making for all the other important sections of the economy. The industry is expected to attract $25 billion investment in exploration and production by 2022. India is already a refining hub with 23 refineries, […]
India’s July retail inflation eases to 5-year low
Economists struck a note of caution, pointing out that the drop was largely due to the base effect of high inflation last year and that it could head back up in the coming months. Retail inflation based on the Consumer Price Index (CPI) in July 2023 was 7.44% while that in June this year printed […]