Big Movers on D-St: What should investors do with Apar Industries, Indian Hotels, and Sona BLW Precision?
Apar Industries stock rose 18% during Wednesday’s trading session, continuing its previous day’s gains after the company reported a 210% increase in its consolidated profit after tax to Rs 170 crore in the December quarter.
Adani bonds hit distressed levels after stock sale is pulled
Adani Green Energy’s 4.375% bond due Sept. 2024 declined more than 12 cents on the dollar to 66.75 cents in high-yield secondary trading, according to Trace data. One of Adani’s other green bonds fell 9 cents on the dollar, but did not yet reach distressed level.
Meta stuns Street with lower costs, big buyback, upbeat sales
Meta stock surged nearly 19% in after-hours trade. If gains hold on Thursday, it would set up the shares for their biggest intraday surge in a decade and added more than $75.5 billion to its existing $401 billion market capitalization.
Budget a solid One, keeps Sensex@2,00,000 on track: Raamdeo Agrawal
Another reason for calling this budget a solid one is that there is minimum tinkering with taxes and tax rates, both direct and indirect. Despite this being the last full budget before the 2024 Lok Sabha elections, the finance minister very wisely chose not to play to the gallery.
Govt paves the way for p-notes in Gift City
“Due to SCRA limitations, branches of foreign banks were unable to issue p-notes from IFSC and were therefore unable to move their trading desks to IFSC,” said Suresh Swamy, partner, Price Waterhouse & Co LLP. “With this proposed change, GIFT IFSC will be able to compete with other leading financial jurisdictions.”
Market gives up gains with sell-off in Adani Group stocks
The Sensex, which fell below the 59,000-mark in the closing stages of Wednesday’s trading, ended at 59,708, up 158 points, or 0.27%, from its previous close. The index made an intraday high of 60,773.
Adani Enterprises cancels FPO, to refund investors
“Given the unprecedented situation and the current market volatility the company aims to protect the interest of its investing community by returning the FPO proceeds and withdraws the completed transaction,” the company told exchanges after a board meeting Wednesday evening.
Fed slows rate hikes, signals further increases are coming
Policymakers lifted the Fed’s target for its benchmark rate by a quarter percentage point to a range of 4.5% to 4.75%. The smaller move followed a half-point increase in December and four jumbo-sized 75 basis-point hikes prior to that.
Reclaiming shares and dividends to take less time
“For investors to reclaim unclaimed shares and unpaid dividends from the Investor Education and Protection Fund Authority with ease, an integrated IT portal will be established,” said finance minister Nirmala Sitharaman in the budget speech.