Posts in category Economic Times
Thai ties in mind, currency deal may help popularise the Rupee (14-04-2024)
How about leaving a tip in rupees at a beach bar in Pattaya or a spa in Bangkok? Well, that could be a reality if India can pull off a currency deal with Thailand, which has emerged as one of the preferred destinations for holidays, conferences and corporate offsites, especially since the visa relaxation last year.
Finmin pitches for enhanced KYC, due diligence for merchants, business correspondents (14-04-2024)
Finance ministry stresses rigorous KYC and due diligence to prevent financial frauds, focusing on data security, safeguarding the financial ecosystem, and blocking fraudulent micro ATMs. Recommendations were discussed at an inter-ministerial meeting.
RP sets date for second bidding for KSK Mahanadi resolution (14-04-2024)
Resolution professional sets new EoI date for KSK Mahanadi Power after failed takeover bids. Debts, creditor details, and twists in resolution process highlighted. Concerns over supporting companies' value addressed by NCLT.
M&A deal activity set to pick up this year, may touch $75 billion: Ganeshan Murugaiyan, BNP Paribas (14-04-2024)
Indian M&A activity set to rise to $75 billion in 2024, driven by private equity, IT, core industrial space, and pharmaceuticals, with influences from cross-border deals, M&A valuations, equity, debt markets, and IPOs.
RBI steps up gold buying amid US dollar volatility (14-04-2024)
RBI increases gold purchases to diversify forex reserves, with gold value contributing to record $648.5 billion. Gold acquisitions aim to hedge against inflation and currency risks, with increasing faith in gold amidst US dollar volatility and declining dollar reliability.
Carlyle picks JPMorgan and Kotak to help arrange Hexaware IPO: Report (14-04-2024)
The US investment firm plans to hold the IPO as early as in the fourth quarter of this year, the people said, asking not to be identified as the deliberations are private. More bankers will likely be added for the potential $1 billion offering, which may value the Indian information technology company at as much as $6 billion, they said.
Ahead of Market: 10 things that will decide D-Street action on Monday (14-04-2024)
Nifty on Friday ended 234 points lower to form a Doji candle on the weekly scale. On the daily charts, the index closed below the lows of the previous three sessions, indicating weakness. The index is in the process of retracing the rise it has witnessed from 22,710 – 22,776.
Market Trading Guide: IRCTC, Samvardhana Motherson among 5 stock recommendations for Monday (14-04-2024)
The S&P BSE Sensex closed 1.06% lower at 74,245, while the NSE Nifty50 index ended below the 22,550 level.
Nifty Bank has historically given 5% average return in Q4 earnings season: Anand James (14-04-2024)
"HDFC Bank, ICICI Bank, SBI, and Axis Bank which constitute the bulk of the banking sector in Nifty 50 look exhausted hinting at profit booking in the near term. Incidentally, 70% of the time in the last 10 years, Bank Nifty has given an average 5% return during the Q4 earnings season. This gives us the hope that profit-booking efforts could be short-lived."
Options trading strategy for Nifty & Bank Nifty for this week (14-04-2024)
The price structure of Nifty is forward an upward-sloping channel for which the range at present is 22,900 – 22,000. The prices are just a tad around its March ATH of 22,500. It would be interesting to see if its prices can sustain this level in the next one or two days and revert to upside momentum, or if we are in for further correction to lower levels of 22,240 – 22,100.