Big Movers on D-St: What should investors do with Adani Power, ITC and Tata Communications?
Stocks that were in focus included Adani Power which closed with gains of 5 per cent, ITC which hit a 52-week high and closed marginally higher and Tata Communications which ended with gains of nearly 1 per cent but with strong volumes on Monday.
Stocks in the news: TCS, NTPC, Tata Power, Glenmark Pharma and RBL Bank
Tata Consultancy Services, country’s largest software exporter, has bagged a contract for an undisclosed sum from Africa’s Absa Corporate and Investment Bank.
What changed for market while you were sleeping
Major Asian stocks opened lower Tuesday after jitters over the speed of rate hikes by the US Federal Reserve drove down Wall Street shares overnight. MSCI’s index of Asia-Pacific shares outside Japan was trading 0.54 per cent lower.
FPIs lap up banking and finance stocks as credit cycle recovers
Financial stocks are back in demand as fresh bank sanction of loans rose by 90% to Rs 1.4 lakh crore in FY22 after a multi-year drop in FY21. In the previous corporate capex cycle fresh bank sanctions rose to Rs 4 lakh cr between FY10 and FY11. Further, the real lending rates have turned softer.
DreamFolks Services’ IPO to open on Wednesday
The IPO consists of an offer for sale of up to 1.72 crore shares by the promoters and selling shareholders. Bids can be made for a minimum of 46 shares and in multiples of 46 shares thereafter. The proposed primary offering is open for subscription till Friday, August 26.
ONGC, Indian Oil to make joint bid for JBF Petrochemicals
ET had first reported on May 27 that Reliance Industries, HPCL-Mittal Energy, Jindal Poly Films, Gail, Jindal Power, MCPI Ltd, and a consortium of ONGC and Indian Oil have submitted expressions of interest (EoI) for JBF Petrochemicals.
Vox MPC: Inflation a priority, rate hikes likely, bigger ones may be not
Expectations are that the MPC will continue to vote for higher interest rates in its next two meetings in September and December taking the Reserve Bank of India’s (RBI) benchmark repo rate at least 50 basis points higher from the current 5.40%. One basis point is 0.01%.
SP Group may raise ‘low dividend’ issue at Tata Sons AGM
The Tata Group holding company posted a 164% rise in net profit to ₹17,171 crore in the year ended March and announced a dividend cash outflow of ₹404.15 crore, or about 2.4%. Officials close to the SP Group said this is meagre against the industry normal of more than 25% and over 70% at Tata […]