Stock ‘GIFT’ to founders of tech cos, unicorns comes under ED lens now
The Enforcement Directorate is investigating technology firms and unicorns for violating FEMA through offshore fundraising tactics. The ‘gift’ of shares to Indian founders is under scrutiny, raising concerns over overseas direct investment. Indian promoters are being questioned and may need to explain past transactions.
Nifty 500 trading has a bullish bias, but only minor bumps expected in near term
The NSE 500 index sees 86% of stocks trading above the 200-DMA, indicating a strong bullish trend. Analysts suggest potential minor corrections but no significant reversal expected soon. Fifth bull run in Nifty 500 continues.
Hyundai under pressure from Tata, Mahindra as $3.5 billion India IPO looms
Tata Motors and Mahindra challenge Hyundai for India’s No.2 spot amid Hyundai’s $3.5 billion IPO plan. Hyundai held 13.5% sales, Tata 13.2%, Mahindra 12.4%, Maruti Suzuki tops with 40%. Hyundai faces market challenges, acknowledges COO Tarun Garg. Significant investments in EVs and capacity expansions are planned by 2026, according to the Federation of Automobile Dealers.
Stocks in news: Jupiter Wagons, Nestle, RailTel, Bandhan Bank, Godrej Consumer, PG Electropast
Jupiter Wagons’ QIP floor price is Rs 689.47. Nestle declared an interim dividend. Govind Singh remains Utkarsh SFB CEO. Godrej Consumer grew in Q1. Bandhan Bank launched trade products. JSW Steel targets net zero by 2050. Maruti delivered 2 million cars by rail. RailTel suggested FY24 dividend. Preeti Engineering started QIB. Mphasis goes ex-dividend. PG […]
Asian stocks edge higher before Powell’s testimony: Markets wrap
Asian markets rise ahead of Powell’s testimony and US earnings season. Investors eye Fed’s rate cut outlook and China’s policy meetings. Bond markets react to PBOC actions. S&P 500 hits new high. Earnings season expectations increase. Oil stable amid Hurricane Beryl. Gold rebounds from previous losses.