Day: June 15, 2023

Goods exports contract 10.3% in May

Imports also shrank 6.6% on-year to $57.1 billion from $61.13 billion, leaving a trade deficit of $22.12 billion in May from $22.13 billion a year ago. Commerce Secretary Sunil Barthwal said headwinds still continue on the global trade front and many countries are going through a slowdown.

Bain Capital sells 0.7% stake in Axis Bank for Rs 2,178 crore, 50 FPIs lap up shares

It was the second time in less than a year that Bain Capital reduced its stake in the bank. Following the sale, Bain now holds around 1.3% stake in the bank’s capital. Morgan Stanley, Goldman Sachs, Kuwait Investment Authority, Hartford and Nomura were among the domestic and foreign institutions that bought stakes as part of […]

Tech View: Nifty forms Engulfing Bear candle on charts. What should traders do on Friday?

The Nifty index ended down 68 points after making consecutive higher highs, forming a short-term top reversal pattern. Analysts predict a range of consolidation between 18,800-18,500 and recommend holding above the 20-day moving average and support levels of 18,636 and 18,550. India VIX dropped slightly, causing premiums to squeeze, and options suggest a broader trading […]

Wipro share buyback: Record day tomorrow, double-digit return possible?

IT firm Wipro’s share buyback, worth Rs 12,000 crore ($1.6bn), may deliver substantial returns to small investors who invest during the remaining short window. Retail shareholders with holdings worth less than INR 2 lakh ($2,700) are eligible for up to 15% of the buyback, and are expected to see acceptance ratios of up to 40%, […]

Biggest Indian fund manager sees rupee climbing to 80/dollar by 2023 end

The currency will probably strengthen to 80 per dollar by the end of the year, according to Namrata Mittal, chief economist at SBI Mutual Fund, its first annual appreciation since 2017. The rupee is up 0.8% this year, and is one of only two Asian currencies that has gained against the greenback. It closed 0.3% […]