Tech View: Nifty50 forms a strong bullish candle; What should traders do on Wednesday?

The Nifty index opened flat and moved in the positive direction for the entire session and headed towards 17,550. The next major resistance is placed above 17,700 on the upside, while support has been shifting higher towards 17,300, suggested experts.“Nifty formed a Bullish candle on a daily scale and gave the highest closing of the […]

Equity mutual fund inflows record 42% drop in July, shows AMFI data

Flows in retail mutual fund schemes remained positive for the 17th consecutive month since March 2021, with net flows in the positive territory at Rs 3,847 crore as of July 31, 2022, according to the latest AMFI report. Funds mobilised under retail schemes stood at Rs 32,439 crore, outweighing redemptions which stood at Rs 28,592 […]

Will demand revival pave the way to profitability for IndiGo?

As the economy opened and operations resumed partially, fuel price and other expenses were higher than the revenue the company was generating, resulting in losses for FY21 and FY22. The latest results — for Q1FY23 — showed a significant spike in revenue, at Rs 12,855 crore, which shows an increase in demand (QoQ basis). Profit […]

Can high flying Happiest Minds maintain its premium performance?

Happiest Minds is a digital transformation IT consulting & services company focusing on big data, analytics, cloud, mobility & security. The company was founded in 2011 and was listed on the stock exchange on 17th September 2020. Since its listing, Happiest Minds has given superlative returns (nearly 172% as of 1st August 2022).

Maruti sourcing local Li battery packs for export, home use in hybrid buildup

A resolution on related party transactions in the FY22 annual report shows Maruti will export battery packs to Suzuki’s European subsidiary Magyar Suzuki and the amount will not exceed ₹1,500 crore in a financial year for the period beginning from FY23 to FY25. The peak value of export will be realised in the third year […]

Sebi mulls stock payment system bypassing brokers

At present, such a system exists in the ‘primary’ or IPO market. Sebi is exploring bringing the ‘fund-blocking mechanism’ to the secondary stock market. Known as ASBA or Application Supported by Blocked Amount, this method is mandatory for investing in initial public offerings (IPOs).