Posts in category Business Standard
Tanfac Industries standalone net profit declines 43.39% in the March 2024 quarter (22-04-2024)
Sales decline 11.01% to Rs 102.81 crore
IndusInd Bank successfully executes RBI’s programmable CBDC pilot (22-04-2024)
An innovative financial solution for the agriculture sector
IEL reports standalone net profit of Rs 0.14 crore in the March 2024 quarter (22-04-2024)
Sales rise 785.44% to Rs 9.12 crore
Gold, silver retreat from record levels as Iran-Israel tensions ease (22-04-2024)
Gold and silver prices retreated from record high levels in the national capital on Monday, with the precious metal plunging by Rs 450 per 10 grams, due to weak global trends and easing tensions in West Asia.
Gold prices declined by Rs 450 to Rs 73,650 per 10 grams amid weak trends in the overseas markets, according to HDFC Securities. The yellow metal had settled at Rs 74,100 per 10 grams on Friday.
Silver prices also tumbled by Rs 1,100 to Rs 85,500 per kg. In the previous close, it had closed at Rs 86,600 per kg.
"Spot gold prices (24 carats) in the Delhi markets are trading at Rs 73,650 per 10 grams, down by Rs 450 against the previous close," Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
In the international markets, spot gold at Comex was trading at USD 2,365 per ounce, down by USD 26 from the previous close.
Gold resumed trading on a weaker note on Monday as demand for the safe haven asset decreased after easing geopolitical tensions in the Middle .
Sensex climbs 560 pts, Nifty ends above 22,300, VIX slumps below 13 mark (22-04-2024)
Domestic stocks advanced on Monday, clawing their way back after last week's selloff. The Nifty climbed above 22,300, with all sectors on the rise. PSU banks, consumer durables, and healthcare led the charge. Relief from Middle East tensions helped fuel the rally. Investors also piled back into smaller companies, broadening the market recovery. However, worries about persistently high inflation and a hawkish US Federal Reserve are keeping a lid on investor enthusiasm.
Mutual funds collection through NFOs up 6.5% at Rs 66,364 crore in FY24 (22-04-2024)
Asset management companies (AMCs) floated 185 new fund offerings mobilising Rs 66,364 crore in 2023-24, marking a 6.5 per cent increase from the previous year, amidst growing interest of retail investors and significant uptrend in broader markets.
This was higher than Rs 62,342 crore garnered by AMCs through 253 New Fund Offerings (NFOs) in 2022-23.
"The financialisation of savings in India is currently underway, signifying a growing recognition among investors that investing in financial assets is integral to building wealth. With income and expenditure levels rising constantly, there is a heightened need to channel monthly savings into avenues offering higher returns. The substantial inflow of investments into equities underscores a notable shift in investor attitudes and risk appetites," FYERS Research said in its report.
As India's growth narrative gains momentum and investment opportunities expand, many unlisted companies seek capital market support. This trend bodes well for .
INR Gains Amid On Positive Cues From Local Equities (22-04-2024)
The Indian rupee added gains on Monday tracking positive cues from equities and sharply lower international crude oil prices. INR rose by 7 paise to close at 83.37 (provisional) against the US dollar. Sluggish dollar index also supported gains in the domestic unit. At the interbank foreign exchange market, the local unit opened at 83.40 against the greenback. The unit hit an intra-day high of 83.32 and a low of 83.45 against the greenback. The benchmark S&P BSE Sensex jumped 560.29 points, or 0.77 percent, to 73,648.62, extending gains for a second day running even as U.S. bond yields climbed on hawkish Fed commentary. The broader NSE Nifty index settled 189.40 points, or 0.86 percent, higher at 22,336.40.
BSE SME IPO of Varyaa Creations subscribed 66% (22-04-2024)
The offer received bids for 8.92 lakh shares as against 13.40 lakh shares on offer.
Kesoram Industries reports consolidated net loss of Rs 244.42 crore in the March 2024 quarter (22-04-2024)
Sales rise 1.72% to Rs 1073.56 crore
Epigral consolidated net profit rises 0.72% in the March 2024 quarter (22-04-2024)
Sales decline 6.68% to Rs 524.63 crore