‘We emphasise the importance of not basing investment decisions solely on electoral outcomes.’ ‘Instead, focusing on investing in high-quality businesses capable of prospering regardless of the political landscape is paramount.’
Posts tagged Rediff
ITC’s hotel demerger plan gets CCI nod (28-05-2024)
Fair trade regulator CCI on Tuesday said it has approved the demerger of the hotel business of diversified entity ITC Ltd into a separate entity. After the completion of the demerger, shares of ITC Hotels Ltd, a new entity, will be listed on the stock exchanges. The proposed combination relates to the demerger of the demerged undertaking to ITC’s wholly-owned newly incorporated subsidiary, ITC Hotels.
What’s behind the recent stock market rally? (28-05-2024)
The current spurt in the stock market is on account of strong fundamentals and robust corporate earnings and retail investors can look for buying opportunities to accumulate quality stocks, experts said.
Nifty expected to reach 24,500 level by Dec 2024 (28-05-2024)
With an expected earnings growth of 15 per cent, benchmark index Nifty 50 may hit 24,500 level by December 2024 and move further to surpass the level of 26,500 by December 2025, Emkay Investment Managers said on Tuesday. The 50-share Nifty settled at 22,888.15 on Tuesday. In the previous day, it hit a new lifetime peak of 23,110.80.
Adani group to hit the road to raise up to Rs 33K cr (28-05-2024)
The Adani group, buoyed by a sharp recovery in its share prices over the past year, is set to embark on a series of roadshows this week to raise up to $4 billion (approximately Rs 33,254 crore) through equity and refinancing of older debt, according to banking sources. The roadshows, scheduled to take place in major cities, will inform investors about the group’s investment plans across renewable energy, petrochemicals, and infrastructure development.
Sensex ends down 220 points in volatile trade (28-05-2024)
From the Sensex firms, Power Grid, NTPC, Tech Mahindra, Bharti Airtel, Tata Motors, IndusInd Bank, Reliance Industries, Kotak Mahindra Bank and Maruti were among the laggards. Asian Paints, Wipro, JSW Steel, Hindustan Unilever, Bajaj Finserv and Mahindra and Mahindra were among the biggest gainers.
BSE to buy S and P’s 50% stake in index JV for Rs 30 cr (28-05-2024)
Domestic bourse BSE has approved the acquisition of a 50 per cent stake in index provider Asia Index (AIPL) from equal joint venture partner S and P Dow Jones (SPDJ) Indices for Rs 30 crore. AIPL, the index provider, is responsible for compiling and maintaining the widely followed Sensex, Bankex, and other indices. Passive funds with assets of nearly Rs 2 trillion are benchmarked with indices provided by AIPL.
Link PAN with Aadhaar by May 31 or pay higher TDS (28-05-2024)
The income tax department on Tuesday asked taxpayers to link PAN with Aadhaar by May 31 to avoid tax deduction at a higher rate. As per income tax rules, if a Permanent Account Number (PAN) is not linked with biometric Aadhaar, TDS is required to be deducted at double the applicable rate. Last month, the income tax department issued a circular stating that no action will be taken for short deduction of TDS in case the assessee links his/her PAN with Aadhaar by May 31.
Large order book, EV demand drive Sona BLW growth (28-05-2024)
Auto parts maker Sona BLW Precision Forgings (Sona) reported strong revenue in the fourth quarter of financial year 2023-24 (Q4FY24) as demand for electric vehicles expands. The company reported a 19 per cent year-on-year (Y-o-Y) increase in sales to beat street estimates. Sales were powered by a 34 per cent growth in the battery electric vehicle (BEV) segment and a good show in the differential gear segment.
BharatPe, PhonePe amicably settle ‘Pe’ suffix issue (27-05-2024)
Financial technology (fintech) firms PhonePe and BharatPe announced on Sunday that they have settled long-standing legal disputes regarding the use of the trademark with the suffix ‘Pe’ in their brand names. The settlement concludes five-year-long legal disputes across multiple courts. Both companies have decided to withdraw all opposition against each other in the Trade Marks Registry.