Golden Crossovers: These 4 stocks signal further bullishness
In the BSE list of stocks, four stocks with a market cap of over Rs 1000 crore are witnessing Golden Crossovers, according to stockedge.com’s technical scan data. Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside. These stocks’ […]
Adani Green to seek board nod to raise up to $1 billion
The capital raised by Adani Green Energy will be used to repay an outstanding $750 million, three-year bond issued in 2021 that’s due next year. The money is likely to be kept in a dedicated redemption reserve account and paid on the due date, said people aware of the matter.
Oil prices rise on concerns over tightening supply
Oil prices rose as U.S. oil and fuel inventories reduced causing speculation over further OPEC+ output cuts. Industry data revealed a decline of 6.8 million barrels in crude inventories in the week to May 19 along with 6.4 million drop in gasoline inventories. Distillate inventories were down 1.8 million. Confirmation of these figures in data […]
Nearly $1.6 b a day: RBI’s intervention to shield rupee from volatility in FY23
The RBI’s average daily gross interventions in the foreign exchange market in the previous financial year were 85% higher than the previous year as the rupee battled extraordinary global headwinds. The latest data show that on a gross basis, the RBI sold $212.57 billion and bought $187.05 billion in the previous financial year.
Analysts hopeful of BPCL’s recovery post strong Q4
Shares of BPCL surged as much as 2.6% before closing the day at ₹366.20 apiece on the NSE, up 1.27% from the previous close.
Brokerages bullish on PB Fintech, raise price targets
Shares of PB Fintech opened over 5% higher in Tuesday’s trading but could not hold on to any gains, ending at ₹617 on the NSE, down 0.35% from the last close.
Adani stocks rally upto 13%, add Rs 63,285 crore
The committee’s report released on Friday said it had not found ‘regulatory failure’ on allegations of price manipulation in the conglomerate’s stocks and violation of minimum public shareholding rules. Since the report has been made public, Adani group stocks have run up between 6% and 40%, helping the group companies recoup ₹1.78 lakh crore in […]
M&M to exit Mahindra CIE Automotive via block deal
Term sheet of the block deal shows it is a clean out deal which means the stake of M&M in the Mahindra CIE Automotive will drop to nil. M&M held a 3.20% stake in Mahindra CIE Automotive at the end of March 2023, according to BSE data.
Sumeet Industries’ lenders give more time to file bids
Resolution professional Satyendra Khorania confirmed the extension of the timeline through an email response. Bidders for the distressed company include India’s largest private sector company, Reliance Industries, and Kolkata-based MCPI, which is a part of The Chatterjee Group (TCG).
Siemens India’s unit sale to parent against the interest of minority investors: Analysts
In its report dated May 19, Jefferies stated: “While this is not a meaningful segment for Siemens’s growth prospects in transmission and railways, it has led to implied loss for investors as it was sold at lower EV/ sales.” The brokerage said the unit accounted for 7% of Siemens India’s FY22 sales and 9% of […]