Posts in category Business Standard
WazirX major security breach: Calls for legal recourse grow louder (21-07-2024)
Legal experts tracking the sector believe that users who have lost their funds can look at the country's consumer protection laws as one recourse
Nippon MF, Morgan Stanley, SBI MF top bidders for Vedanta $1 billion QIP (21-07-2024)
These projects include the expansion of the aluminium smelter and refinery, investment in new oil and gas blocks, and expansion of the steel and iron ore businesses
NLC India to raise funds via IPO of arm for clean energy expansion: CMD (21-07-2024)
Lignite-to-power producer NLC India Ltd (NLCIL) is planning to raise funds through an initial public offering (IPO) of its wholly owned subsidiary NLC India Renewables Ltd by the first quarter of the next financial year, company's Chairman and Managing Director (CMD) Prasanna Kumar Motupalli said.
In an interview to PTI here, the CMD said the PSU is planning to ramp up its renewable energy capacity from the current 1.4 GW to 6 GW by 2030.
The funds raised via the IPO will be used in its clean energy expansion plans, he said.
The company also plans to arrange soft loans from foreign companies and banks for this purpose, the CMD explained.
"As on date... the existing assets of NLCIL are to be transferred to that company (NLC India Renewables Ltd). For transfer of that assets, some exemption is required from the Government of India. So that process is on.
"So, we are expecting to get that clearance from the government by around October. In the first quarter of the next financial year
Budget, earnings, global trends to drive stock markets this week: Analysts (21-07-2024)
The outcome of the Union Budget, quarterly earnings from corporates and global trends are the major factors to drive stock market sentiments this week, analysts said.
Besides, the trading activity of foreign investors, the rupee-dollar trend and the movement of global oil benchmark Brent crude are also crucial aspects to watch out for.
"The upcoming Union Budget on July 23, 2024, has become the next focal point for the market, with high expectations for growth-oriented policies. Several factors will influence the market direction, including Q1 FY25 earnings, domestic and global economic data, and broader global market trends.
"Market sentiment will be closely monitored by observing foreign and domestic institutional investor activity (FII and DII) and crude oil prices," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
Among blue-chip firms Bajaj Finance, Hindustan Unilever, Axis Bank, Bajaj Finserv, Larsen & Toubro, DLF, Tech Mahindra and Nestle will announce .
FPIs invest Rs 30,772 cr in equities in July so far on sustained growth (21-07-2024)
Foreign investors injected Rs 30,772 crore into Indian equities so far this month, driven by hopes of continued policy reforms, sustained economic growth and a better-than-expected earnings season.
Additionally, the anticipation of a reform-oriented budget has also lifted investor sentiment, Himanshu Srivastava, Associate Director - Manager Research at Morningstar Investment Research India, said.
Going forward, if the recent trend of weakness in dollar and bond yields persists, FPIs are likely to continue their buying in the market, VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
Domestic and foreign investors are keenly watching for possible tweaks in the long-term capital gains tax in the Budget to be presented on July 23, he added.
According to the data with the depositories, Foreign Portfolio Investors (FPIs) have made a net inflow of Rs 30,772 crore in equities this month (till July 19).
This came following an inflow of Rs 26,565 crore in equitie
Mcap of 8 of top-10 most valued firms jumps Rs 2.1 trn; TCS, LIC sparkle (21-07-2024)
The combined market valuation of eight of the top-10 most valued firms jumped Rs 2,10,330.26 crore in a holiday-shorted last week, with Tata Consultancy Services (TCS) and Life Insurance Corporation of India emerging as the biggest gainers.
Last week, the BSE benchmark climbed 85.31 points or 0.10 per cent. The 30-share BSE Sensex hit its new all-time high of 81,587.76 on Friday.
Stock markets were closed on Wednesday on account of Muharram.
From the top-10 group, the valuation of TCS zoomed Rs 42,639.16 crore to Rs 15,56,772.61 crore.
The market capitalisation (mcap) of Life Insurance Corporation of India (LIC) surged Rs 36,748.23 crore to Rs 7,01,695.24 crore.
Infosys added Rs 33,569.16 crore, taking its valuation to Rs 7,44,396.43 crore, while State Bank of India's mcap climbed Rs 26,372.23 crore to Rs 7,93,576.49 crore.
Hindustan Unilever's mcap soared Rs 24,494.49 crore to Rs 6,40,651.30 crore, and that of ITC jumped Rs 19,420.52 crore to Rs 5,92,679.30 crore.
The market ..
KPI Green Energy wins order for 100 MW solar power project (20-07-2024)
From Maharashtra State Power Generation Co.
KPI Green Energy wins order for 100 MW solar power project (20-07-2024)
From Maharashtra State Power Generation Co.