The US FDA has issued a warning letter to Zydus Lifesciences citing significant manufacturing lapses at its Gujarat-based plant.
Posts in category Business Standard
Jigar S Patel of Anand Rathi recommends buying these three stocks today (16-09-2024)
Recently, IRCTC’s stock price has been consolidating around its 200-day Exponential Moving Average (DEMA), which is often seen as a critical support level.
Buy & Sell Ideas for Sep 16; top stock picks by Rajesh Bhosale of Angel One (16-09-2024)
For over 8 months, CEAT has faced resistance around the 2,900 level. However, prices have now broken this range, confirming a strong ‘Inverse Head and Shoulders’ breakout
Swiggy eyes IPO filing this week; may seek to raise over $1 billion (15-09-2024)
Details of the offering such as size and timing are still under discussion and subject to change, they said
FPIs inject Rs 27,856 cr in equities in Sept on US rate cut expectations (15-09-2024)
Foreign investors have infused Rs 27,856 crore in domestic equities in the first fortnight this month, owing to the resilience of the Indian market and growing optimism around the potential interest rate cut in the US.
Foreign Portfolio Investors (FPIs) have been consistently buying equities since June. Before that, they pulled out Rs 34,252 crore in April-May.
With the focus shifting to the US Federal Reserve’s decision on interest rates in its upcoming FOMC meeting next week, its outcome will likely play a pivotal role in shaping the trajectory of future FPIs investments in Indian equities, Himanshu Srivastava, Associate Director- Manager Research, Morningstar Investment Research India, said.
According to the data with the depositories, FPIs put in a net investment of Rs 27,856 crore into equities this month (till September 13).
With this, FPIs’ investment in equities reached Rs 70,737 crore so far this year.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Mcap of 9 of top-10 most valued firms jump Rs 2 trn; Bharti Airtel sparkles (15-09-2024)
Nine of the top-10 most valued firms together added Rs 2,01,552.69 crore in market valuation last week, with Bharti Airtel stealing the show, amid bullish investors’ sentiment in equities.
Last week, the BSE benchmark jumped 1,707.01 points or 2.10 per cent. The 30-share BSE Sensex hit its lifetime high of 83,116.19 on Thursday.
Bharti Airtel’s valuation jumped Rs 54,282.62 crore to Rs 9,30,490.20 crore, becoming the biggest gainer among the top-10 firms.
The market capitalisation (mcap) of ICICI Bank surged Rs 29,662.44 crore to Rs 8,80,867.09 crore.
Tata Consultancy Services (TCS) added Rs 23,427.12 crore taking its valuation to Rs 16,36,189.63 crore.
The mcap of Hindustan Unilever soared Rs 22,438.6 crore to Rs 6,89,358.33 crore and that of HDFC Bank zoomed Rs 22,093.99 crore to Rs 12,70,035.77 crore.
The market valuation of Infosys climbed Rs 17,480.49 crore to Rs 8,07,299.55 crore and that of ITC rallied Rs 15,194.17 crore to Rs 6,42,531.82 crore.
The valuation of Reliance
Investors to focus on US Fed interest rate decision this week: Analysts (15-09-2024)
The US Federal Reserve’s interest rate decision is the biggest event that would drive sentiments in the domestic stock market this week, besides a host of macroeconomic data from the global front and trading activity of foreign investors, analysts said.
The Indian equity market had an exceptional last week, with both the Nifty and Sensex hitting their all-time high levels on Thursday. The BSE benchmark breached the 83,000 level for the first time on Thursday.
“One of the most anticipated events of the year is set to unfold this week with the US Federal Open Market Committee (FOMC) meeting scheduled for September 18th. It is almost certain that this will mark the beginning of an interest rate cut cycle in the US. The general consensus is for a 25 basis points (bps) rate cut, though some market participants are speculating a more aggressive 50 bps cut.
“Such a move would be a significant positive trigger for global markets, particularly for emerging markets like India, as it would …
Sebi exempts SHPL from making open offer for SpiceJet shareholders (14-09-2024)
Markets regulator Sebi has exempted Spice Healthcare Pvt Ltd from making an open offer to SpiceJet shareholders in relation to acquisition of additional shares in the airline.
On conversion of warrants that were issued to it, Spice Healthcare, a promoter group entity, would be acquiring an additional 13,14,08,514 equity shares in the airline.
In this regard, SpiceJet had sought an exemption from Sebi with respect to making an open offer for the shareholders of the airline.
The Securities and Exchange Board of India (Sebi), through an order on Friday, has given the exemption from making the open offer to Spice Healthcare subject to certain conditions, the airline said in a filing to BSE on Saturday.
Post conversion of the warrants, Spice Healthcare will have an additional 13.74 per cent stake in the airline and that would trigger the open offer requirement under Sebi norms.
The watchdog has given the exemption subject to the condition that the shares acquired by the entity on exerc
Laurus Labs Hyderabad unit clears USFDA inspection (14-09-2024)
The inspection concluded with zero 483 observations by the US drug regulator.
Nazara Tech board to mull fund raising on Sep 18 (14-09-2024)
The gaming and sports media firm announced that its board is scheduled to meet on Wednesday, 18 September 2024 to approve fund raising by issuance of equity shares/securities of the company on preferential basis.