Commerce, shipping ministries to discuss trade and shipping-related tax issues tomorrow
Officials from Commerce, Industry, and Finance ministries, along with shipping and industry stakeholders, are to meet on Friday to discuss critical tax issues in the maritime sector. This comes as exporters face high freight rates amid the West Asia conflict, impacting India’s exports which saw a significant decline recently.
UBS buys 81 lakh shares of IDFC for Rs 88 crore via block deal ahead of stock’s suspension from Thursday
UBS bought 81 lakh shares in IDFC Limited for Rs 88 crore. IDFC Limited will be suspended from trading on Thursday, the record date for its merger with IDFC First Bank. Post-merger, IDFC First Bank’s weightage in Bank Nifty will increase, attracting $39 million in passive funds.
Tech view: Nifty faces resistance at 25,250, short-term trend still positive. How to trade tomorrow
A small negative candle with long upper shadow indicates rejection of bulls. Nifty’s short-term trend remains positive, but weakness is likely near recent lows. Resistance at 25,250. Highest OI on the call side at 25,100 and 25,000, on the put side at 25,000 and 24,900
Carbon tax proposed by EU unilateral, arbitrary to hurt India’s export: FM Sitharaman
Finance Minister Nirmala Sitharaman criticizes the EU’s Carbon Border Adjustment Mechanism (CBAM), calling it unilateral and arbitrary. CBAM, set to start in 2026, may harm India’s exports in key sectors like steel and cement. Despite this, talks on an FTA with the EU are expected to continue.
Nomura initiates coverage on these 3 AMC companies, signals upside potential up to 21%
Nomura initiated coverage on HDFC AMC, Nippon Asset Management, and UTI AMC with buy and neutral ratings, respectively. Target prices were set at Rs 5,000, Rs 785, and Rs 1,300, respectively. Nomura expects Indian AMCs to maintain their valuation premium due to higher growth potential and better profitability.
Fortis Healthcare board approves raising of up to Rs 1,500 cr via NCDs
In the filing, the healthcare company said that the eligible investors include but are not limited to identified anchor investors DBS Bank Ltd (DBS), The Hongkong and Shanghai Banking Corporation Ltd (HSBC), Citicorp Investment Bank (Singapore) Ltd., Mizuho Bank, Singapore and other foreign portfolio investors qualified during the bidding process.
Market Wrap: Sensex, Nifty close lower despite RBI’s neutral policy on rates
Indian equity indices Sensex and Nifty experienced gains throughout the day but reversed course in the last hour, closing lower on Wednesday, despite the central bank easing its policy stance to ‘neutral’, opening the door for rate cuts in the coming months.
Easy Trip Planners board to consider bonus share issue on October 14
EaseMyTrip board to consider bonus shares on October 14. This will be the third time the company has issued bonus shares. Details about the ratio and record date not disclosed yet.
Will the stock market crash? Let’s find out using 6-day stress test
After a significant 1,420-point drop in Nifty over six days, historical trends show potential for recovery, bolstered by domestic institutional and retail investors. A six-day consecutive fall has often led to positive returns, suggesting short-term declines may offer strategic buying opportunities.
With days to go for IPO, Hyundai India GMP crashes over 70% from highs
The market is anticipating the initial public offer (IPO) of Hyundai Motor India, which announced its price band today. The subscription period will open on October 15 and close on October 17. Following the price band announcement, the company’s grey market premium (GMP) remains steady at Rs 147.