Citi’s latest India strategy report suggests that the recent market correction presents opportunities for long-term investors. While earnings show sectoral variations, Citi anticipates growth driven by public spending and rural demand. Despite strong domestic investments, continued FII selling remains a concern. Citi upgrades cement to “Overweight” and sets a cautiously optimistic Nifty target of 25,000 by September 2025.
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SIS up over 2% as board to consider fundraising via debt issue on Nov 25 (21-11-2024)
The uptick in SIS share came after the company said that its Board of Directors will meet on November 25, to consider, inter-alia, the proposal for fund raising by debt issue in the form of debentures
PSP Projects shares dip 9% as Adani Infra to buy 30% stake in company (21-11-2024)
PSP Projects share price: Adani Infra is set to acquire a 30.07% stake in PSP Projects from existing shareholder Prahladbhai S. Patel. The deal aims to boost PSP Projects’ growth in the Indian infrastructure sector, with Adani planning significant investments. PSP Projects will retain its current leadership, but Adani Infra will gain equal board representation.
Bengaluru man nabbed: ED busts Rs 10 cr scam involving fake PANs, tax fraud (21-11-2024)
Using Aadhar and PAN data from property
records, he forged documents to open bank accounts in the names of his targets, specifically choosing
banks with lax KYC requirements.
Bharti Airtel shares in focus as co awards multi-billion extension deal to Nokia (21-11-2024)
Bharti Airtel has signed a major deal with Nokia. Nokia will deploy 4G and 5G equipment in major Indian cities. This will enhance Airtel’s network capacity and coverage. The deal also includes modernizing Airtel’s existing 4G network. Airtel will use Nokia’s network management system for intelligent monitoring. This partnership aims to provide customers with an unparalleled user experience.
Telecom stocks mixed after SC allows to claim tax credits on infra duties (21-11-2024)
Bharti Airtel and Indus Towers shares rose in the early trade, while Vodafone Idea slipped after SC allowed telcos could avail themselves of central value-added tax (cenvat) credit on infra
Asian stocks ease as Nvidia’s forecast dampens investors’ risk appetite (21-11-2024)
Prevailing geopolitical concerns following the escalating conflict in Ukraine earlier this week led safe-haven assets higher, including gold and government bonds
Barometers drop in early trade; breadth weak (21-11-2024)
At 09:26 IST, the barometer index, the S&P BSE Sensex declined 419.26 points or 0.54% to 77,159.12. The Nifty 50 index lost 142.95 points or 0.61% to 23,375.55.