Posts in category Business Standard
Absolute Sports to acquire US based – SoapCentral.com (05-06-2024)
Absolute Sports, a Nazara Technologies subsidiary and the parent company of Sportskeeda.com and ProFootballNetwork.com, one of the world's leading providers of sports news and analysis with over 100 million fans engaging with its platform monthly, announced today that it has signed an asset purchase agreement, subject to closing conditions, to acquire all of the assets of SoapCentral.com, a premier source of entertainment content in the US. The transaction is for an all-cash consideration of $1.4 Million (~ Rs 11.6 crore) and is expected to be closed in the next 30 days. In CY23, SoapCentral.com had revenues of US $621K (~ Rs 5.2 crore). Absolute Sports will use its cash reserves to fund the transaction.
Oil & Natural Gas Corpn Ltd Surges 3.62%, BSE Oil & Gas index Gains 3% (05-06-2024)
Oil & Natural Gas Corpn Ltd has lost 13.1% over last one month compared to 3.49% fall in BSE Oil & Gas index and 1.17% drop in the SENSEX
Angle One’s client base increases to 23.83 million in May’24 (05-06-2024)
Average client fund book rose to Rs 2740 crore in May 2024 compared to Rs 2096 crore (up 30.8%) in April 2024 and Rs 1057 crore (up 159.2%) in May 2023.
Rupee to rely on RBI’s help amid foreign outflows post PM Modi’s narrow win (05-06-2024)
Non-deliverable forwards indicate the rupee will open largely unchanged from 83.53 in the previous session
Asian stocks rise, dollar steady on rate-cut wagers, spotlight on India (05-06-2024)
Investor worries of a cooling US economy, however, kept a lid on risk appetite, while the focus in Asia is on how Indian markets fare after stocks sank and the rupee slid
Hindalco Inds slumps after Novelis postpones IPO due to market conditiions (05-06-2024)
Hindalco Industries tumbled 5.26% to Rs 612.85 after the company's wholly owned subsidiary Novelis Inc. announced the postponement of its initial public offering due to market conditions.
US Stocks shine on weak job openings data (05-06-2024)
The Labor Department said job openings fell to 8.059 million in April, the lowest since 2021, from a downwardly revised 8.355 million in March. That lifted Treasuries on Tuesday sending the 10-year yield down six basis points.
Foreign outflows from markets hit record after weaker Modi mandate (05-06-2024)
MUMBAI (Reuters) -Foreign institutional investors (FIIs) sold a record 124.36 billion rupees (about $1.5 billion) worth of Indian shares, as NSE Nifty 50 and S&P BSE Sensex logged their worst day in more than four years, provisional data from the National Stock Exchange showed on Tuesday.
Stock alert: SBI, Bharat Forge, Hindalco, Wipro, Jindal Stainless (05-06-2024)
Bharat Forge will be in focus. Class 8 truck orders in North America increased by 39% year-on-year and 35% on a month-on-month basis in May to 18,900 units.
Gold prices fall despite softer US yields, buy the dips; target prices here (05-06-2024)
Spot gold at the time of the MCX closing was trading at $2329, down 0.89per cent on the day, whereas the MCX August contract was changing hands at Rs 72,005, down 0.27per cent