M&M Financial is likely to be in focus as the company said it is expecting a 1% year-on-year decline in the overall disbursement in the second quarter.
Asian shares mixed as oil soars on ME tension ahead of US jobs data (04-10-2024)
Investors are concerned that, should Israel strike critical Iranian assets, the Islamic Republic will lash out and escalate the conflict, dragging in more countries and potentially disrupting global energy shipments. Israel said it bombed more than a dozen Hezbollah targets in Beirut on Thursday.
Stock Market Live Updates: Geopolitical risks and oil surge threaten Nifty’s 25,000 mark; FPIs sell heavily (04-10-2024)
Sensex, Nifty, Share Prices LIVE: Domestic markets are poised for a weak opening due to escalating geopolitical tensions, with the Gift Nifty indicating a significant drop. The deepening conflict in West Asia has soured investor sentiment, leading to substantial sales by foreign portfolio investors (FPIs), who offloaded over ₹15,000 worth of shares recently. This sell-off, coupled with the upcoming weekend, suggests a cautious approach from investors. The Iran-Israel conflict exacerbates concerns, with rising oil prices and potential disruptions in trade posing additional risks. Market sectors, particularly Auto and Oil & Gas, have seen declines, with key players like BPCL and Asian Paints affected by the surge in crude oil prices. Analysts advise caution, highlighting the importance of monitoring RBI policy decisions, global developments, and crude oil trends. The Nifty’s ability to maintain its current level amidst these challenges remains uncertain, with technical and psychological factors influencing market sentiment.
Piramal Finance aiming for ‘predictable profitability’: MD (04-10-2024)
The finance company is likely to move towards “predictable profitability” by the end of this fiscal year as it shrinks its legacy book, which is expected to decrease the volatility in the earnings number, he said. Consistency in earnings is a factor that most investors have preferred over surprises.
BSE to discontinue weekly contracts on Bankex, Sensex 50 (04-10-2024)
The weekly index derivatives contracts on Sensex 50 will be discontinued with effect from November 14 end of day while Bankex will be discontinued from November 18.
Refex Industries plans to raise Rs 927.81 crore (04-10-2024)
Refex, which is in the business of ash and coal handling and electric vehicle mobility, also has a presence in refrigerant gases, and power trading.
Indian steel stocks get a Chinese stimulus (04-10-2024)
Brokerage Morgan Stanley has upgraded shares of JSW Steel and Jindal Steel and Power to ‘overweight’ from ‘equal-weight’, while Tata Steel is now rated ‘equal-weight’ as compared to ‘underweight’ earlier. Nomura India has also initiated coverage on both JSW Steel and Jindal Steel with a ‘buy’ rating.
LIC eyeing strategic stake in Standalone Health Insurance Company (04-10-2024)
The health insurance sector is now the fastest-growing segment in the country’s insurance industry, driven by rising healthcare costs and increasing awareness of the need for coverage.
MUFG rejoins Yes Bank race, submits initial bid for a majority stake (04-10-2024)
Japan’s MUFG has re-entered the race to acquire a majority stake in Yes Bank after its proposal to invest in HDB Financial was rejected. MUFG has submitted a non-binding offer and is conducting due diligence, negotiating mainly with Yes Bank and SBI.