Posts in category Economic Times
Variable annuity products set to enter markets in 2-3 months (24-04-2024)
The Insurance Regulatory and Development Authority of India (IRDAI) has announced a new rule allowing insurance companies to offer variable annuity plans with a minimum guaranteed annuity amount. This option is available under both group and individual defined annuity products, based on publicly available benchmarks.
Sudarshan Chemical jumps 19% on rival’s bankruptcy (24-04-2024)
"Sudarshan Chemical stands to gain meaningful share in the export as well as domestic markets," said Sandeep Abhange, research analyst at LKP Securities.
FPIs lap up power, financial services stocks in April; IT, FMCG see biggest outflows (24-04-2024)
Power sector received the highest inflow from foreign investors, who bought shares worth ₹5,143 crore after buying ₹45 crore in March. In 2023, the sector witnessed inflows worth ₹2,477 crore. With the government expected to boost the country's power capabilities as part of its ambition to make India into a manufacturing hub, the focus is on the companies that will benefit from the revival of the sector.
RBI’s dollar purchases in Feb highest since June 2021 (24-04-2024)
In January, the RBI had net purchased $1.9 billion in the spot market, the central bank's April 2023 Bulletin showed. In February, the RBI did not sell US dollars in the currency market.
D-Street goes short on fear, VIX plunges 20% (24-04-2024)
"The drop in VIX is unprecedented, as previously readings of VIX near 8-9% were seen when markets were making a top. This is showing that traders have become overly positive about the upcoming days."
Top brokerages bullish on Reliance, raise price targets (23-04-2024)
Analysts said that Reliance's balance sheet remains strong but growth in retail and oil-to-chemical businesses is expected to be muted in the short term, but the company's digital services led by Jio could be a key driver.
Talk of the Tower: Airtel eyes Vodafone’s 21.05% in Indus (23-04-2024)
Airtel is the biggest shareholder in Indus, with 47.95%; Vodafone Group has 21.05% and 30.97% is with the public, according to the tower company's latest filing with the BSE. A buyout of the Vodafone stake will boost Airtel's shareholding to 69%. Indus shares ended 2.9% higher at ₹359.65 on the BSE on Tuesday, giving it ₹96,923.41 crore market capitalisation.
Talk of the Tower: Airtel eyes Vodafone’s 21.05% in Indus (23-04-2024)
Airtel is the biggest shareholder in Indus, with 47.95%; Vodafone Group has 21.05% and 30.97% is with the public, according to the tower company's latest filing with the BSE. A buyout of the Vodafone stake will boost Airtel's shareholding to 69%. Indus shares ended 2.9% higher at ₹359.65 on the BSE on Tuesday, giving it ₹96,923.41 crore market capitalisation.
Spotify surges 16% on swing to profit, boost in paid subscribers (23-04-2024)
Paid subscribers rose 14% year over year to 239 million, the Swedish company said Tuesday in a statement, in line with analysts’ estimates compiled by Bloomberg. Total active users, including those on free plans with advertising, grew to 615 million, slightly less than the 617.9 million forecast by analysts.
Kering Q1 Results: Gucci-owner posts 10% drop in sales on sluggish Chinese demand (23-04-2024)
The group said its first half operating profit would be "sharply lower" due to the revenue decline and its ongoing investment in its brands. Sales for the three months ending in March stood at 4.5 billion euros ($4.82 billion), down 10% on a comparable basis.