Intense El Nino may push inflation up by 15-20 bps: Experts
A deep deficient monsoon could push food inflation by 50-60 basis points. One basis point is one hundredth of a percent. “It will have lower than the 50 bps (0.5 percentage points) impact on headline inflation that RBI talks about as potential negative impact from adverse weather,” said Abhishek Upadhyay, senior economist, ICICI Securities PD.
Promoter Abrdn sells entire stake in HDFC AMC for Rs 4,079 cr; Morgan Stanely, SBI MF among buyers
This follows the UK investor’s exit from private insurer HDFC Life, where it sold some INR2,000cr of shares in the pre-merger stake sale. HDFC AMC returned to shareholders nearly 123 times the cost of its pre-IPO investment, while its shares rallied almost 11.39% to INR2,108.05 on Tuesday.
India approves wheat, broken rice exports requests from 4 countries
The South Asian country banned exports of wheat and broken rice in 2022 to lower local prices. But following requests, India would allow broken rice exports to Indonesia, Senegal and Gambia in 2023/24 financial year started on April 1. New Delhi also approved request from Nepal and allowed wheat exports in the current financial year.
Retail inflation for farm, rural workers eases in May
The All-India Consumer Price Index Number for Agricultural Labourers and Rural Labourers for the month of May 2023 increased by 6 & 5 points to stand at 1186 points and 1197 points respectively.
Tech View: Nifty may zoom past Mt 19K in 1-2 weeks. What should traders do on Wednesday
The index has broken out of its higher high formation of the last five sessions. Now, it has to hold above 18,777 zones to witness an up move towards 18,888 and 19,000 zones, while on the downside support exists at 18,710 and 18,666 zones, said Chandan Taparia of Motilal Oswal.
More in the tank! Emkay sees 16% upside in ITC, even as it hovers around all-time highs
Shares of ITC have risen by almost 36% this year due to strong operational performance, with Emkay Global expecting more growth. The brokerage initiated coverage with a target price of Rs 525, up 16% from current levels. ITC has undergone steady re-rating over the last year, with Emkay maintaining that value unlocking is possible as […]
Promoter pledge in these 5 cos significantly down in FY23, stocks turn multibaggers
Several BSE500 companies, including Apollo Tyres, Jindal Stainless, NCC, Suzlon Energy, and CG Power and Industrial Solutions, saw their stocks turn multibaggers after a significant reduction in the pledge shares of promoters in the last four quarters. Lemon Tree Hotels also saw considerable fall in pledge shares. The efforts taken by corporates and promoters to […]
Jay Thakkar on 2 stocks to buy in short term
“The first buy recommendation is on Metropolis. This stock has provided a breakout from multiples showing resistance. It has formed a good rectangular or a good consolidation base formation at the lower end after falling quite a lot. NMDC is the other candidate which is seeing short covering in this sideways or downtrend market. ”
Looking for consistent payouts? 10 midcap stocks with highest dividend yields on D-Street
Investors include dividend stocks in their portfolios as they are rewarding consistent payouts irrespective of the market sentiments. Here are 10 stocks in the midcap space with highest dividend yields in the last 12 months. Source: Axis Securities.
HMA Agro Industries IPO opens for subscription. Should you bid?
Indian exports giant HMA Agro Industries has begun its initial public offering (IPO) process, as retail investors have until 23 June to bid for shares between the price range of Rs555 ($7.48) and Rs585 ($7.89). The IPO will raise Rs480 crore ($65m). The company’s shares were trading at a premium of Rs28 in the unlisted […]