Posts in category Economic Times
Silver sparkles as prices touch fresh peak of Rs 82,109/kg (08-04-2024)
Both gold and silver trying to breach their multi-year highs indicates that a bull market is in force for precious metals, and historically, silver has outperformed gold in such situations, said Sahil Kapoor, market strategist at DSP Mutual Fund.
Gold rises to new high of Rs 71,080, denting demand (08-04-2024)
Rising prices of precious metals come ahead of Gudi Padwa and Ugadi, the auspicious day on the Hindu calendar marking the beginning of New Year in certain parts of the country. The price surge has dampened mood among potential customers who prefer to buy gold to celebrate this auspicious day, which will fall on April 9 this year.
GIFT City bankers may follow global schedule, enjoy five-day work week (08-04-2024)
The working group said in its recommendations that a five-day work week will align with practices adopted in international financial centres and offshore units of Indian banks. "The government wants to position GIFT City as a major financial hub. All these steps are very important benchmarks for an aspiring international financial centre like GIFT IFSC," said another official.
Shriram Finance raises fixed deposit rates (08-04-2024)
Senior citizens can earn another 50 basis points, while women investors earn an additional 10 basis points, taking the maximum rate to 9.4% for a woman senior citizen.
Shriram Finance raises fixed deposit rates (08-04-2024)
Senior citizens can earn another 50 basis points, while women investors earn an additional 10 basis points, taking the maximum rate to 9.4% for a woman senior citizen.
Broadband business seen bolstering Q4 revenues for Airtel and Reliance Jio (08-04-2024)
Analysts anticipate Reliance Jio and Bharti Airtel, leading telecom operators in India, to witness moderate sequential growth in their fiscal fourth-quarter mobile revenue. This growth is primarily driven by robust broadband user additions, with no tariff hikes implemented. Conversely, Vodafone Idea (Vi) is expected to experience a decline in revenue due to persistent heavy customer attrition.
Crypto survey shows less consumer scepticism, but a third expect Bitcoin price fall (08-04-2024)
Deutsche Bank survey indicates evolving consumer sentiment on bitcoin's price, while regulators caution against its risks. Cryptocurrencies are seen as a future asset class, with varied predictions for bitcoin's price by 2024.
Bain Capital to sell 1.08% stake in Axis Bank on Tuesday (08-04-2024)
Bain Capital acquired its stake in Axis Bank in November 2017. BofA Securities India is the sole bookrunner. In June, Bain Capital sold a 0.7% stake in Axis Bank at an average price of Rs 968 per share, aggregating Rs 2,178 crore. Prior to this, the private equity firm had sold a 1.2% stake in October 2022.
Wells Fargo boosts end-2024 target on S&P 500 to Street-high of 5,535 (08-04-2024)
Wells Fargo boosts S&P 500 target to 5,535, citing AI optimism. Fed's rate cut view, Magnificent Seven stocks, and EPS estimate raise drive bullish sentiment. Wells Fargo also lifted the S&P 500's earnings per share estimate to $242 from $235 for this year.
US dollar drifts lower ahead of inflation data; yen nears 1990 lows (08-04-2024)
The dollar slipped on Monday in thin trading as investors focused on U.S. inflation data later this week, while the yen slipped to near 34-year lows versus the greenback as traders remained alert for any potential action from Japanese authorities to support the weakening currency.