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Posts tagged Rediff
Bull run: Sensex scales Mount 70,000 for first time (11-12-2023)
Gains in IndusInd Bank, HCL Tech, TCS, Tech Mahindra, NTPC, ITC, JSW Steel and Tata Steel helped the barometer scale a fresh high. Axis Bank fell the most by 1.26 per cent, M and M by 0.99 per cent and Hindustan Unilever by 0.67 per cent. Maruti, Bajaj Finserv, Bharti Airtel and HDFC Bank and Infosys also declined.
100 deaths at BSE50 Companies (11-12-2023)
74 of these fatalities were reported by 8 companies: Coal India (21), L and amp;T (14), Vedanta (13, of which Hindustan Zinc reported 7), Tata Steel (7), Power Grid Corporation of India (7), JSW Steel (6), and ONGC (6).
Factors that will guide the markets this week (10-12-2023)
Global trends, macroeconomic data, and the outcome of the US Fed policy meeting are the major factors that will drive the movement in the domestic equity markets this week, analysts said. “In the upcoming data-centric week, the focus will be on crucial releases, including inflation data from India and the US. “Indian inflation is expected to rise, while US inflation will remain steady.
Distributors flock to MFs as returns, flows improve (10-12-2023)
An improved showing of mutual funds (MFs) is helping the industry attract distribution talent at a brisk pace. The industry has onboarded a net of 11,600 individual distributors in the first seven months of 2023-24 (FY24) compared to just 5,555 distributors in the whole of 2022-23 (FY23), according to data from the Association of Mutual Funds in India. Like most financial products, MFs also have significant reliance on individual distributors to sell their products, even as digital platforms are gaining popularity.
Two factors that are key to rally in BHEL’s stock (10-12-2023)
Bharat Heavy Electricals Ltd (BHEL) is India’s largest engineering and manufacturing enterprise, operating across energy, industry, and infrastructure sectors. The investment path for the stock is based on a large order backlog, continued strong order inflows, and rising power demand, which should push demand for BHEL’s equipment and services. BHEL has historically held over 70 per cent market share in power projects.
Govt tweaks rules for Aadhaar enrollment (09-12-2023)
The government on Saturday said a person who is eligible for Aadhaar can enroll using iris scan in case fingerprints are unavailable. The statement comes after Minister of State for Electronics and IT Rajeev Chandrasekhar intervened to ensure the enrollment of a woman, Josymol P Jose, in Kerala who could not get enrolled for Aadhaar as she did not have fingers. A team from the Unique Identification Authority of India (UIDAI) visited Jose at her home in Kumarakam, Kottayam district, in Kerala, the same day and got her Aadhaar number generated, the statement said.
Setback for Chanda Kochhar as SC junks her plea (08-12-2023)
The Supreme Court on Friday refused to entertain former ICICI bank managing director and CEO Chanda Kochhar’s plea seeking retirement benefits from the bank. A bench of Justices Sanjiv Khanna and SVN Bhatti said, “Not a case for interference. We are not inclined to interfere with the high court order. “The special leave petition is dismissed.” At the outset, senior advocate Harish Salve, appearing for Kochhar said the high court had dismissed the petition without any discussion or finding.
After 4 months, forex reserves again above $600 bn (08-12-2023)
India’s foreign exchange reserves increased to $604 billion as on December 1, surpassing the $600 billion mark after a gap of about four months. The forex reserves were last above the $600 billion mark on August 11 this year. “India’s foreign exchange reserves stood at $604 billion as on December 1, 2023.
After 4 months, forex reserves again above $600 bn (08-12-2023)
India’s foreign exchange reserves increased to $604 billion as on December 1, surpassing the $600 billion mark after a gap of about four months. The forex reserves were last above the $600 billion mark on August 11 this year. “India’s foreign exchange reserves stood at $604 billion as on December 1, 2023.