Trends in the global markets, trading activity of foreign investors and announcement of domestic macroeconomic data are the major factors that would drive investors’ sentiment in a holiday-shortened week ahead, analysts said. Benchmark indices had a record-breaking rally in the past week driven by impressive GDP data. Equity markets would remain closed on Friday for Mahashivratri.
Posts tagged Rediff
FPIs infuse Rs 1,500 cr into Indian equities in Feb (03-03-2024)
Foreign investors made a significant turnaround and injected over Rs 1,500 crore into Indian equities in February, reversing the massive outflows seen in the preceding month, primarily due to robust corporate earnings and positive economic growth. Additionally, Foreign Portfolio Investors (FPIs) continued to be bullish on the debt markets as they put in over Rs 22,419 crore during the month under review, data with the depositories showed. Looking ahead to March, the outlook for FPI flow appears promising, provided the current economic trajectory and corporate performance sustain their positive momentum, potentially continuing to attract foreign investment into Indian equities, Mayank Mehraa, smallcase manager and principal partner at Craving Alpha, said.
IPO craze continues: 3 firms to raise Rs 1,325 crore (03-03-2024)
The primary market will see a flurry of activity in March, with at least three companies including Gopal Snacks will float their initial public offerings (IPOs) in the upcoming week to raise Rs 1,325 crore collectively. The other two companies which are set to launch their maiden public issues are — RK Swamy and JG Chemicals. Additionally, Bengaluru-based luxury furniture brand Stanley Lifestyles and Krystal Integrated Services are expected to float their initial share-sales later this month, according to merchant bankers.
Naukri, 99acres, few apps back on Google Play Store (02-03-2024)
Taking a strong view of Google pulling out some apps from its Play Store, the government on Saturday said delisting of Indian apps cannot be permitted and that the tech company and the startups concerned have been called for a meeting next week. In an interview to PTI, IT and Telecom Minister Ashwini Vaishnaw said the startup ecosystem is key to the Indian economy and their fate cannot be left to any big tech to decide. The minister’s comments assume significance as Google on Friday began removing some apps, including popular matrimony apps, from its Play Store in India over a dispute on service fee payments, even as apps and well-known startup founders cried foul.
Why Byju’s is unable to pay salaries to staff (02-03-2024)
Byju’s founder Byju Raveendran on Saturday said the edtech company will not be able to pay salaries to employees as the recent funds raised through a rights issue are inaccessible due to a legal dispute with certain investors. In a letter to staff, Raveendran said the rights issue, launched a month ago, has been successfully closed. “This was supposed to be a happy correspondence.
Modi unveils projects worth Rs 15K cr in West Bengal (02-03-2024)
Prime Minister Narendra Modi unveiled development projects worth Rs 15,000 crore in West Bengal on Saturday. The prime minister unveiled the projects at an official function in Krishnanagar in Nadia district. Addressing the programme, he said these initiatives were aimed at making West Bengal a developed state.
Special trading: Markets settle at new closing highs (02-03-2024)
Among the Sensex firms, Tata Steel, Tata Motors, Asian Paints, Wipro, State Bank of India and Larsen and Toubro were the major gainers. ICICI Bank, NTPC, Axis Bank and Mahindra and Mahindra were among the laggards.
Strong SUV demand brings cheer to India’s motown (01-03-2024)
Leading automakers Maruti Suzuki, Hyundai and Tata Motors on Friday reported robust sales for February as demand for sports utility vehicles continued to remain strong. Mahindra and Mahindra, Toyota Kirloskar Motor and Honda Cars also witnessed higher vehicle dispatches to dealers last month. February turned out to be the third-best month for sales for the industry ever.
Rs 5.49 cr fine imposed on Paytm Payments Bank (01-03-2024)
Financial Intelligence Unit-India (FIU-IND) has imposed a Rs 5.49 crore penalty on Paytm Payments Bank for violating anti-money laundering rules, the Finance Ministry said on Friday. FIU-IND initiated a review of Paytm Payments Bank on receipt of specific information from law enforcement agencies in respect of few entities and their network of businesses engaged in a number of illegal acts, including organising and facilitating online gambling.
Forex reserves jump by $2.97 bn to $619 bn (01-03-2024)
India’s forex reserves jumped by $2.97 billion to $619.07 billion for the week ended February 23, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had dropped by $1.13 billion to $616.10 billion. For the week ending February 23, the foreign currency assets, a major component of the reserves, increased by $2.40 billion to $548.19 billion.