Posts in category Economic Times
Wall Street sells off ahead of jobs report, investors digest Fed comments (05-04-2024)
Investors also digested comments from U.S. President Joe Biden, who called for an immediate ceasefire in a call with Israel Prime Minister Benjamin Netanyahu over the Gaza war. Oil prices climbed amid the geopolitical tensions.
GIFT Nifty down 90 points; here’s the trading setup for today’s session (05-04-2024)
"Nifty has been consolidating in a narrow range at higher levels for the last few sessions, while broader markets have bounced back strongly, especially after a sharp recent correction. Overall, we maintain our positive bias on the market, and any dip can be viewed as a buying opportunity," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
Stocks in news: HDFC Bank, IndusInd Bank, Ultratech, Bajaj Finance, Prestige Estates (05-04-2024)
HDFC Bank reported a 55.4% year-on-year (YoY) growth in its gross advances to Rs 25.08 lakh crore for the quarter ended March. On a sequential basis, the gross loans rose by 1.6%.
MFs voice ‘noes’ loudly at governance shortfalls (05-04-2024)
Data from primeinfobase.com showed the percentage of votes opposing resolutions soared to a record high of 8.55% in FY24, a notable leap from 7% in FY23 and 4.62% in FY22. This substantial increase aligns their position more closely with the practices observed in developed markets, where institutional investors typically oppose 8-10% of resolutions proposed by companies.
SP Group company raises Rs 505 crore debt from Asia Pragati (05-04-2024)
Ricardo Constructions, a wholly-owned company of the SP Group engaged in the construction of residential apartments, raised the bonds from Asia Pragati Strategic Investment Fund, managed by PAG, a global alternative investment firm.
Rupee closes at fresh low of 83.44 (05-04-2024)
On Wednesday, the local unit had closed at 83.4350. So far in 2024, the rupee has depreciated 0.3% against the US dollar on a closing basis.
RBI gives more time to comply, eases concerns (05-04-2024)
In view of feedback received and recent developments, it had been decided that the latest directions on exchange traded currency derivatives (ETCD) would be applicable from May 3, 2024 instead of April 5 as was said in a January 2024 circular, the RBI said.
HUL may scoop out its not-so-vanilla business (05-04-2024)
HUL exploring selling ice-cream business after making it a separate unit. Ice-cream requires unique manufacturing and distribution. Market competition includes Magnum, Amul, and Kwality. Unilever focuses on similar segments, aiming to improve gross margins.
Brookfield, Platinum slug it out to acquire PGP Glass; PE firms seek controlling stake now at $1.4-1.6 bn value (05-04-2024)
Brookfield's private equity division is in discussions with Blackstone, the world's largest alternative asset manager, to buy into PGP Glass, formerly Piramal Glass. The Canadian asset management giant is competing with US firm Platinum Equity Partners, a relatively unknown entity in India so far. The deal contours have changed as negotiations progress, with the PE suitors now seeking a stake of 65-75% with Blackstone owning the rest.
Banks, IT take Nifty to new high, countdown begins for next record (04-04-2024)
NSE's Nifty rose 80 points, or 0.36%, to close at 22,514, its highest-ever closing level. The index hit an all-time high of 22,619 during the day. BSE's Sensex rose 350.81 points, or 0.47%, to end at 74,227, a record closing level before. The index rose to an all-time of 74,501 earlier in the day.