Jio Financial Services shares erode over Rs 31,000 crore m-cap in 4 days. Is the worst over?
JFSL was to exit all S&P BSE indices on August 29, provided it did not hit the lower circuit in a 3-day period. However, now that the stock has hit the lower circuit again on Thursday, the removal date will be deferred again by another three days.
Chart Check: Wipro trades near breakout zone of inverse head & shoulder pattern; time to buy?
The stock witnessed some pressure above Rs 400 levels in June 2023 which pushed the stock towards Rs 370 in June 2023. The momentum helped the stock to climb above 50 and 200-DMA on the daily charts.
Hot Stocks: Brokerage view on RIL, SBI Cards, Barbeque Nation, and Paytm
This is likely to be higher than consensus valuation and should be seen as a positive. If this is a wider second round of stake sale it will validate this valuation and act as a soft floor for Reliance’s stock.
ETMarkets Smart Talk- This fund manager managing over Rs 3500 cr in AUM is betting big on India story; here’s why
The market has seen a leg up in the last 4 months, after almost 18 months of consolidation. The market might revert to being consolidated in the mid-term.
Stocks to buy today: Paytm, Zomato among top 9 trading ideas by experts
“Nifty formed a dragonfly Doji sort of candle on the daily frame on Wednesday with long lower shadow indicating support-based buying and has been making higher highs from the last three sessions,” he said.
Positive Breakout: SBI & 6 other stocks cross above their 200 DMAs
The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock.
QIA to invest $1 billion in Reliance Retail Ventures
RRVL, the holding company of Reliance Retail Ltd (RRL), had diluted 10.1% stake and raised over $6 billion in 2020 from several financial sponsors and sovereign wealth funds (SWFs) such as KKR, General Atlantic, TPG, Silver Lake, L Catterton, Abu Dhabi Investment Authority, Mubadala and Public Investment Fund of Saudi Arabia.
VPRPL offers exposure to construction sector opportunities
The company designs and executes construction projects in sectors such as water supply, railways, roads and irrigation. As of March 31, 2023, it derived 85.3% of the total revenue from water supply projects
Taxman takes affidavit route to uncover undisclosed foreign assets
Till now many bought time and tried to dodge the tax office by denying ownership or links with any overseas assets with false submissions, often made in letterheads of their chartered accountants and lawyers. Later, if tax officials called their bluff, such plain submissions gave them the leeway to escape harsh consequences.
Goldman Sachs puts buy ratings on TCS, LTIMindtree, Infosys
The brokerage has rated a ‘sell’ on Tech Mahindra and Wipro, while a ‘neutral’ on HCL Technologies. Goldman said while India’s IT sector is trading at premium valuations compared to its last 10-year average and almost in line with the five-year average, higher valuations are warranted as growth in technology spending will continue