At meeting held on 14 March 2024
Posts in category Business Standard
Creador to acquire 19.6% stake in Hinduja Tech (14-03-2024)
Creador is a renowned private equity firm focused on partnering to grow world-class businesses in Southeast Asia and India. This investment places Hinduja Tech at a post-money equity value of $255 million.
Board of CEAT approves appointment of directors (14-03-2024)
At meeting held on 14 March 2024
Popular Vehicles and Services IPO subscribed 1.23 times (14-03-2024)
The offer received bids for 1.77 crore shares as against 1.44 crore shares on offer.
INR Range Bound As Rebound In Equities Offset By Dollar Strength Overseas (14-03-2024)
The Indian rupee depreciated 3 paisa to settle at 82.84 (provisional) against the US dollar on Thursday as gains from rebound in equities were offset by dollar strength abroad. The dollar index continues to steady just below 103 mark on Thursday awaiting further clarity on Federal stance from a slew of US data due later in the global day. US producer inflation, retail sales and weekly jobless claims figures are due for the day. Rising crude oil prices also weighed on the local unit although a firm trend in domestic equity markets supported the local currency and restricted the fall. The benchmark S&P BSE Sensex rose 335.39 points, or 0.46 percent, to 73,097.28 amid widespread buying across sectors. The broader NSE Nifty index settled up 153.30 points, or 0.7 percent, at 22,151. At the interbank foreign exchange market, the local unit opened slightly weak at 82.84 and witnessed an intra-day low of 82.89 and a high of 82.82 against the greenback during the session.
Singapore Market ends 0.81% up (14-03-2024)
At closing bell, the Straits Times Index (STI) index was up 25.68 points, or 0.81% to 3,186.40 after trading between 3,162.63 and 3,190.21. Volume of 1.56 billion shares worth S$1.45 billion changed hands. Across the broader market, decliners outpaced advancers 286 to 270.
Hong Kong Market ends lower (14-03-2024)
At closing bell, the benchmark Hang Seng Index fell by 120.45 points, or 0.71%, to 16,961.66. The Hang Seng China Enterprises Index sank 25.58 points, or 0.43%, to 5,906.88.
Australia Market falls 0.2% (14-03-2024)
At closing bell, the benchmark S&P/ASX200 index dropped 15.82 points, or 0.2%, to 7,713.63. The broader All Ordinaries index sank by 15.58 points, or 0.19%, to 7,973.95.
China Market falls 0.2% (14-03-2024)
At close of trade, the benchmark Shanghai Composite index declined 0.18%, or 5.60 points, to 3,038.23. The Shenzhen Composite Index, which tracks stocks on China’s second exchange, sank 0.59%, or 10.47 points, to 1,758.10. The blue-chip CSI300 index fell 0.28%, or 10.14 points, to 3,562.22.
Sensex bounces 335 pts, Nifty ends at 22,146.65; Adani Enterprises soars over 6% (14-03-2024)
The domestic stock market rebounded on Thursday, fueled by buying across most sectors. The Nifty 50 ended near 22,150, recovering from an intraday low of 21,917.50. Expiring weekly index options on the NSE caused volatile trading. Oil & gas, metals, and media stocks saw strong demand, while banks and financials dipped. However, analysts warn of potential overvaluation in some mid-and small-cap stocks. This comes after market regulator Sebi raised concerns about “frothy” valuations in these segments and urged mutual funds to moderate their investments. The stress test results from these mutual funds are due on March 15th.