Cryptos will lead to financial instability, dollarization of the economy, says RBI Governor
The RBI chief said, “cryptos may lead to dollarization of the developing countries like India as the prices of crypto tokens are mostly denominated in dollars.”He said that this will create serious financial instability in the country. The RBI governor also added that cryptos pose a serious risk for small investors who are prone to […]
Foreigners return to Indian equities on hopes over earnings
Domestic investors bought over $30 billion worth of stocks in the first half, helping to prop up the market. But this month, overseas investors have taken the baton, pouring in over $5 billion on hopes that Indian companies will deliver stronger earnings and that a fall in crude oil prices will help narrow the country’s […]
Tech View: Nifty50 forms Bullish Piercing Line pattern, signals reversal
In that scenario, the index can attempt to bridge the bearish gap present between 17,690 and 17,710 level registered on August 22 and a close above 17,710 can strengthen the optimism of the bulls further. Contrary to this, a fall below 17,345, on a closing basis, may resume weakness till 17,000 and 16,950 levels,” he […]
Adani firms make open offer for acquiring 26% stake in NDTV for Rs 294 per share
A BSE filing said the open offer is at Rs 294 per equity share aggregating to a total consideration of up to Rs 492.8 crore payable in cash.
Any sharp correction in Nifty a good buying opportunity: Credit Suisse
After equities staged a sharp rebound recently, the 12-month forward PE valuation of Nifty50 has expanded to 19.5x and is now trading at one standard deviation above its 10-year average. The MSCI India was trading at a valuation premium of 37 per cent and 96 per cent versus the MSCI World and MSCI EM, respectively.
India’s rupee seen firming to 78.50-79.50 by fiscal year-end – HDFC Bank
The rupee has has weakened 7.5% so far in the 2022 calendar year, trading close to a record low of 80.0650 hit last month, as aggressive rate hikes by the Federal Reserve sent the dollar rallying and commodity prices soared after Russia invaded Ukraine.”We don’t think this drop in the rupee is going to be […]
Stock Radar: Down 30% from highs! This restaurant stock looks attractive after 6-month consolidation
Jubilant FoodWorks, with a market capitalization of nearly Rs 38000 crore, was consolidating in a range of Rs 575-450 on the weekly charts. Recently, the stock on the weekly charts recorded a breakout from the said range and inched closer to Rs 600 levels.
Emami, Cummins and 4 other stocks that can deliver double-digit returns in 3-4 weeks
Volatility is high on Dalal Street as inflationary worries renewed hawkishness by the US Fed. However, analysts believe that traders have enough opportunities on both sides – short and long – to make strong returns. Based on analysts’ recommendations, here are some stocks that can rise sharply in the near term:
Hot Stocks: Global brokerages on UltraTech Cement, Dalmia Bharat, Eicher Motors and Gland Pharma
CLSA maintained a buy rating on Eicher Motors with a target price of Rs 4154. The stock closed at Rs 3363 on 22 August. The company is seeing a strong replacement demand which is likely to support Royal Enfield’s volume growth, CLSA said. “Exports are likely to be a key growth area. Royal Enfield’s EBITDA […]
Sensex rebounds 200 pts to reclaim 59K; Nifty tops 17,500
“The market mood has suddenly changed after the release of the Fed minutes which indicate steeper rate tightening than what the market had discounted. Now, the focus will be on what the Fed chief Powell will say at the Jackson Hole symposium on Friday,” said V K Vijayakumar of Geojit Financial Services.