No proposal under consideration for adding new sectors in PLI scheme: MoS Jitin Prasada
The government is not considering adding new sectors to the PLI scheme, which aims to boost manufacturing and exports. Current focus includes electronics, pharmaceuticals, and textiles, with significant progress in mobile phone exports and job creation. Efforts are ongoing to address challenges in the gems and jewellery sector.
Tech View: Nifty sustains above 21EMA. Here are cues for Wednesday’s trade
The Nifty continues its upward climb, breaking through key resistance levels and signalling a growing bullish sentiment. Surpassing the 38.20% Fibonacci retracement level and the 21-day exponential moving average, the index now targets 24,600–24,700. Maintaining above 24,400 is crucial for this bullish momentum, with a fall below potentially triggering a correction towards 24,150. Investors are […]
Rupee may fall to 85 against dollar leading to RBI intervention: Naveen Mathur
The rupee is under pressure largely due to the stronger dollar, post-US elections policy measures by President-elect Trump, and specific GDP numbers. Intermittent RBI intervention is noted, but aggressive action is unlikely until the rupee approaches 85 levels, as the forex reserves have dipped from $705 billion to $657 billion.
Suraksha Diagnostic IPO Day 3: GMP, Price Band, Subscription, Key Dates and Review
Suraksha Diagnostic IPO sees weak response, with 37% subscription; analysts advise avoiding due to high valuation and limited market presence.
Adani Ports shares jump 5.5% on achieving 36 MMT cargo volume in November
Shares of Adani Ports rose 5.5% after reporting a 21% growth in November cargo handling and a credit rating upgrade for Gopalpur Ports.
TCIL may offload 5-10% in Bharti Hexacom via OFS
State-run Telecommunications Consultants India Ltd (TCIL) is set to finalize the minimum pricing and terms for an offer-for-sale (OFS) to divest 5-10% of its remaining stake in Bharti Hexacom. The Union government, through TCIL, owns a 15% stake in Bharti Hexacom, in which Bharti Airtel, led by Sunil Mittal, holds 70%.
ITC shares fall 3% as GST on cigarettes may be hiked to 35%
ITC share price: Shares of companies like ITC and Godfrey Phillips fell as the GoM decided to increase GST on tobacco and aerated beverages to 35%. ITC shares fell by 3%, VST Industries by 2.3%, and Godfrey Phillips by 3.2%. The GoM’s report will be discussed by the GST Council on December 21 for a […]
C2C Advanced Systems shares list at 90% premium over issue price. Check GMP, other details
C2C Advanced Systems shares debuted on NSE SME platform with a 90% premium over the issue price of Rs 226. The IPO was oversubscribed by over 100 times, raising Rs 99 crore. The net proceeds will fund capital expenditures and new experience centers in Bengaluru and Dubai.
Trump threat of 100% tariff: Does the US have reasons to worry about de-dollarization or is this a non-starter?
Ajay Dua asserts that despite discussions within the BRICS nations, the US dollar will continue to dominate global trade. While there is a gradual decline in its dominance, with countries like India, Russia, and China trading in their own currencies, a significant shift from the dollar remains unlikely in the near future.
Mazagon Dock Shipbuilders shares rise 1.7% as co fixes record date for 1:2 stock split
Mazagon Dock Shipbuilders shares rose 1.7% after announcing a 1:2 stock split on December 27. The split aims to boost accessibility, liquidity, and investor interest.