F&O stocks to buy: NMDC, Bharat Forge among top 10 trading ideas
The Nifty future closed negative with losses of 0.22% at 19825 levels on Friday.
Big movers on D-Street: What should investors do with Paytm, LIC, Balrampur Chini Mills?
Stocks that were in focus included names like Paytm, which fell 3.08%, LIC, which rose 9.7%, and Balrampur Chini Mills, whose shares declined 2% on Friday.
India braces for a Rs 50,000 crore rise in its subsidy bill for FY24
Subsidy outgo for FY24 had been budgeted at ₹4.03 lakh crore, but may shoot up to ₹4.53 lakh crore. However, even this stretched welfare spend would be far less than the previous fiscal’s subsidy bill of ₹5.62 lakh crore.
RBI in CBDC talks with US & Hong Kong, Swift
An internal Reserve Bank of India (RBI) working group has been exploring the best technology path to develop a roadmap for such direct transactions between two countries.
RBI in CBDC talks with US, Hong Kong and Swift for cross-border payments
“While the current practice involves settling transactions through traditional banking channels, CBDC could enable direct settlement between parties,” said Mihir Gandhi, partner and leader of payment transformation, PwC India. “The advantages are substantial, but India will also need to address numerous challenges and proactively mitigate associated risks.”
FPIs buy big in primary market even as secondary sales continue
According to NSDL data, foreign investors withdrew a total of ₹51,697 crore from the secondary market since September 1. In the primary market, they infused ₹11,501 crore during the same period, resulting in a net outflow of ₹40,196 crore from the equity markets. The Nifty index has risen 1.8% in the past three months.
Pharma cos’ likely re-rating, strong outlook to sustain rally
In the past month, Sun Pharma gained 7%, Aurobindo Pharma jumped 20%, Lupin and Mankind Pharma rose 9% each. The gains have pushed these stocks to their 52-week highs. The Nifty Pharma Index has gained 8% in the past month, as against the 3.4% upmove in the Nifty.
RBI, BoE closer to settling CCIL issue in boost for Bond Street
People aware of the developments said the new Memorandum of Understanding being worked upon by the RBI and UK authorities, including the Bank of England, would essentially communicate a “hands-off” approach towards the CCIL on potentially contentious issues such as rights of audit over the Indian clearing house.
Hero Motocorp’s high-end shift earns it a D-St premium
Hero Motocorp’s stock has regained investor interest due to rising premiumisation-led earnings growth and higher two-wheeler volume growth. The company’s premium bike segment, including Karzima and Harley-Davidson bikes, has seen a 30% increase in its portfolio. The average selling price per unit was Rs 66,680 in Q2 2024, the highest ever.
A Nifty move above 19,900 can take it to new highs: Analysts
The breakout zone, coinciding with a bullish gap at 19,580-19,500, is viewed as robust support, and prices also defended the 19,700 level during the week, serving as immediate support.