Inflation, extreme weather events could spoil the party for India Inc in Bharat
However, inflation was high for most of FY2023. This means the earnings of low-income families —those in rural areas as well as minimum wage earners in urban areas — have broadly been stagnant. But a moderation in inflation, apart from factors such as increased government spend and a rise in incomes, is expected to aid […]
Dalal Street Week Ahead: Caution! Risk-off mood may take hold of Nifty; stick to defensives
From a technical perspective, the high point of 19,991 has now become an intermediate top for the markets. In the process of retracement from higher levels, Nifty has also dragged its resistance down to 19,750 levels. This makes the zone of 19,750-19,900 a strong resistance area for the markets unless taken out comprehensively.
ICICI Bank gets RBI nod to increase up to 4% stake in subsidiary ICICI Lombard
Earlier, the bank, in its disclosure filed with the stock exchanges on May 28, 2023, had communicated that its Board of Directors had approved an increase in the shareholding in ICICI Lombard in multiple tranches by up to 4%.
Gold likely to remain rangebound with a bearish outlook next week
Global rating agency Fitch, which had kept the US Government’s credit on a negative watchlist in May, downgraded the US government’s credit rating to AA+ from AA on anticipated fiscal deterioration over the next three years, a high and growing general government debt burden, social security concerns and governance issues.
Crude oil prices rise to 3-month high. What’s next?
The Opec-plus countries, which pump almost 40% of the world’s crude, have a broader plan to limit supply into 2024 and prop up global oil prices. In October 2022 and April this year, the production cartel decided to cut output of its member countries to tackle the supply glut and boost prices.
Rs 10,710 crore-worth block deals take place this week; Vedanta tops the list
Vedanta stood at the top spot in terms of deal size with Twin Star Holdings selling stake worth Rs 3,983 crore. Copthall Mauritius, Societe Generale bought stakes worth Rs 2,194 crore and Rs 761 crore, respectively, in the metal major.
Wall St Week Ahead: Inflation report, bond yields in focus as US stocks rally pauses
There is still plenty of good news to keep the rally going. Earnings from Wall Street heavyweights Amazon and Google-parent Alphabet have exceeded analysts expectations, though disappointing earnings from Apple sent the stock tumbling 4.8% on Friday.
ITC Hotels may list in 9 months, board decision likely on August 14
ITC is planning to list ITC Hotels in the next six to nine months, people familiar with the developments told ET. The next course of action is likely to be taken in the board meeting to be held on August 14, the people said. In a response to ET’s queries, ITC did not comment on […]
PFC, HDFC AMC, Cummins likely to enter MSCI Global
IDFC First Bank is expected to see inflows of $200 million from global passive funds if included in the MSCI index. The stock has rallied nearly 48% so far this year. Power Finance, Ashok Leyland and Cummins India could see inflows of around $190 million each if these stocks are in the MSCI index.
Government explores live TV on phone without internet
The telecom operators, however, are likely to strongly oppose the proposal as it will eat into their data revenue, most of which comes from video consumption, and hurt their 5G business case.