As govt plans to buy soyabean at MSP, industry demands increase in import duties of cooking oils
The central government will procure soyabean at Minimum Support Price in Maharashtra, Karnataka, and Telangana to support farmers. Meanwhile, the edible oil industry is urging a 15% increase in import duties on cooking oils to counteract cheap imports and stabilize domestic prices.
FPIs stay positive on consumption theme, increase allocation to automobiles, consumer services
The collective weight of the consumption-related sectors including automobiles, consumer durables, consumer services, FMCG, and telecommunications in the portfolios of foreign portfolio investors (FPIs) reached a record high 25.5% at the end of August 2024, according to data from NSDL.
Technical Breakout Stocks: How to trade FDC, Glenmark Pharma and Honasa Consumer on Wednesday?
On Tuesday, Indian markets rose for the second consecutive day, with the S&P BSE Sensex up over 360 points and Nifty50 above 25,000. Gains were noted in capital goods, healthcare, IT, power, and telecom, while energy and oil & gas stocks saw declines.
Oil prices fall on demand concerns, Brent below $70, near 3-year low
The main international oil contract, Brent crude, fell below $70 per barrel on Tuesday for the first time since December 2021 amid concerns about slowing economic growth depressing fuel demand. Brent crude slumped 3.7 percent in afternoon trading to $69.15 per barrel while the main US contract, West Texas Intermediate (WTI), tumbled 4.1 percent to […]
Kumar Mangalam Birla raises stake in Vi, buys 1.86 crore shares
Kumar Mangalam Birla, chairman of the Aditya Birla Group, has increased his stake in Vodafone Idea by purchasing 1.86 crore shares. His investment vehicle also acquired 30 lakh shares. This move comes as Vodafone Idea seeks to raise Rs 25,000 crore in debt and Rs 24,000 crore in equity funding.
Crude oil prices fall 26% from peak. Which are the best stocks to buy?
Oil prices have plummeted to their lowest point in 14 months, with Brent Crude hovering around $72 per barrel and US WTI dipping below $70. Concerns over economic conditions in major consumers like the US and China are casting a shadow on the outlook for oil demand. Despite this, a report from Yes Securities suggests […]
Bajaj Housing Finance IPO: How to maximise chances of getting allotment using Bajaj Finance shareholder quota
Bajaj Housing Finance’s IPO, valued at Rs 6,560 crore, is seeing strong investor demand. To improve allotment chances, shareholders of Bajaj Finance and Bajaj Finserv should apply under both retail and shareholder categories, as an additional Rs 500 crore is reserved for them.
Share buyback boom: Promoters wooing HNIs before new tax rules spoil the charm
Promoters of Indian cos are rushing to complete share buybacks before new tax rules take effect on October 1. The changes will shift the tax burden from companies to shareholders, making buybacks less attractive for high-net-worth individuals. Several companies have already completed or announced buyback offers in anticipation of the new rules.
Tech view: Nifty short-term downtrend sees reversal, forms Doji-like candle. How to trade on Wednesday
Nagaraj Shetti of HDFC Securities stated that the Nifty’s short-term trend appeared to have reversed upward and was currently at the crucial resistance level of 25,200. He suggested that a decisive move above this level could potentially open the door for further gains towards new all-time highs. He also identified the immediate support level for […]
Premier Energies shares continue their bull run, skyrocket 181% since listing
The surge continues as the company, earlier in the last week, announced receiving a Rs 215 crore order from the Uttar Pradesh Department of Agriculture for the supply of 8,085 solar water pumping systems across various districts in the state and is scheduled for completion by March 2025.