HUL gives in-principle nod to demerger of ice-cream business into separate listed entity
Hindustan Unilever’s board has granted preliminary approval to spin off its ice cream business into a separate publicly listed company. Shareholders will receive stock in the new entity proportional to their existing HUL holdings. The move aims to unlock value and provide the ice cream business with greater strategic flexibility.
HDFC Bank stock surges over 3% to record high, crossing Rs 1,800 mark for the first time ever
The MSCI November 2024 index review, effective Monday, put the spotlight on the banking giant due to its weightage adjustment. This marks the final tranche of a phased increase announced earlier this year, reinforcing HDFC Bank’s pivotal role in the MSCI index realignment.
Macy’s shares drop 3.5% after it delays quarterly results on finding employee hid millions in delivery expenses
Macy’s delayed its third-quarter results after uncovering an employee’s concealment of $132 million to $154 million in delivery expenses. Preliminary sales figures missed Wall Street expectations, and the company’s stock dipped. An internal investigation is underway, with full results and a revised outlook expected by December 11. Despite this, Macy’s CEO expressed optimism about the […]
Why is Gary Dugan cautiously optimistic on US equities; “Magnificent 7” saw P/E expansion of about 10%
The S&P 500’s 25% YTD gain has raised concerns about its valuation. The market is priced for perfection, relying on falling interest rates, resilient earnings, and sustained investor confidence. The tech sector, while resilient, shows a divergence in valuations between the broader space and the “Magnificent 7” mega-cap stocks. While the market’s outlook remains positive, […]
Tech cos’ Q2FY25 results ahead of estimates. Infosys, Coforge among 9 brokerage buys
Indian technology companies exceeded their Q2 earnings forecasts, but their future guidance remained cautious. While some brokerages observed a potential bottoming out of pessimism, clear signs of increased spending in developed countries are still pending. Stocks like Infosys, TCS, and HCL Tech are among the top picks for many brokerages.
Gold tumbles 3% on reports of Israel-Hezbollah ceasefire, US Treasury pick
Gold prices tumbled nearly 3% on Monday. A possible Israel-Hezbollah ceasefire eased geopolitical worries. Scott Bessent’s Treasury nomination also impacted gold. The precious metal lost its safe-haven allure. Traders now eye the Federal Reserve’s November meeting minutes and economic data. These will offer clues about future interest rate decisions. Other precious metals like silver, platinum, […]
Tech view: Nifty likely to trade within 24,000–24,500 range, forms doji candle. How to trade tomorrow
The Nifty opened a gap and remained above the 24,100 level throughout the entire trading session. However, marginal profit booking was witnessed during the second half of the trading session. The markets witnessed a smart rally where the bulls were in control of the markets, taking the prices higher.
Paytm shares hit 52-week high as fintech rolls out UPI Lite auto top-up for small payments
Paytm shares surged over 4% to reach a 52-week high of Rs 939 on Monday after announcing the launch of an automatic top-up feature for its UPI LITE service. This feature enables PIN-less transactions for payments under Rs 500. Currently available to select Yes Bank and Axis Bank users, it automatically recharges the UPI LITE […]
SRF offers relative outperformance amid downtrend: Aditya Arora
Again, highlighting that, given the downtrend, I am not expecting runaway rally but I maintain neutral to bullish stance in this counter.
RITES shares soar nearly 13% after securing Rs 532 crore order from Northeast Frontier Railway
RITES Ltd shares jumped 12.6% after securing a Rs 531.77 crore railway electrification order from Northeast Frontier Railway, boosting its order book to Rs 6,581 crore.