FM Sitharaman takes part in customary halwa ceremony; marks final stage of Budget preparation
Finance Minister Nirmala Sitharaman participated in the traditional ‘halwa’ ceremony, marking the final stage of preparing the Union Budget 2025-26. This custom signifies the ‘lock-in’ period for budget officials to ensure secrecy until the Budget presentation on February 1. The ceremony also involved the Finance Minister’s review of preparations.
Tech View: Nifty pullback likely above 22,980; sell-on-rise strategy advised. How to trade on Monday
Hrishikesh Yedve of Asit C. Mehta Investment Intermediates suggested that as long as Nifty stays above 22,980, a short-term pullback towards 23,300-23,400 is possible. However, falling below 22,980 could trigger weakness towards 22,800. The 250-DSMA at 23,600 is a key resistance level. He advised adopting a sell-on-rise strategy for the index.
Global brokerage firms see 14-38% upside in HDFC Bank post Q3 results
Leading brokerages have expressed optimism about HDFC Bank, issuing a mix of positive ratings and price targets that reflect its strong growth potential for the next 12 months.HDFC Bank, on Wednesday reported a 2.2% year-on-year growth in its December quarter standalone net profit, totaling Rs 16,736 crore, compared to Rs 16,373 crore posted in the […]
Bank of Japan hikes policy rates by 25 basis points to highest in 17 years
The Bank of Japan raised its interest rates to 0.5%, the highest level since the 2008 financial crisis, demonstrating confidence in stable inflation around the 2% target. The central bank’s decision follows rising wages and aims to gradually increase rates to around 1%, amidst stable financial markets.
Insurance sector shows promise despite market slump: Sandip Sabharwal
The government knows that there is a slowdown, but still the government capex, government spending has not picked up. Now what is leading to that, why this stagnation is there, and what is their thought process it will become clear in a week when the budget comes in.
KFin Tech shares zoom nearly 10% as Q3 PAT advances 35% YoY
KFin Technologies’ shares surged 9.8% to Rs 1,212.70 after reporting a 34.9% YoY increase in profit after tax (PAT) to Rs 90.18 crore. The company’s PAT margin was 31.1%, and revenue from operations grew 32.6% YoY to Rs 290 crore. In Q3 FY25, international and investor solutions revenue rose by 52.6%, while VAS revenue grew […]
Paytm shares nosedive 9% amid reports of ED probe in crypto scam
Paytm parent One97 Communications shares fell by up to 9% due to ED investigations into cryptocurrency scams involving several payment gateways. The ED has frozen Rs 500 crore in these gateways’ virtual accounts related to scams run by Chinese nationals, impacting platforms like PayU, Razorpay, Easebuzz, and others.
Cyient shares tumble 19% after CEO exit, lower guidance for FY25. What should investors do?
Shares of Cyient Ltd fell 18.58% after weak Q3 FY25 results and CEO resignation. The DET segment saw a drop in YoY profit, while revenue guidance for FY25 was revised downward. Leadership change and execution issues led to stock downgrades by JP Morgan and Emkay Global.
Indus Towers shares jump 2% after strong Q3 results. Time to buy, sell, or hold?
Indus Towers’ shares surged by nearly 2% following a 160% YoY jump in Q3 net profit to Rs 4,003 crore, driven by increased tower additions and overdue collections from Vodafone Idea. The company plans to expand into the EV charging sector and expects significant dividend payouts, with analysts maintaining a ‘Buy’ rating.
Waaree Renewable shares crack 68% after 667% rally. Is the worst behind?
Waaree Renewable Technologies shares surged 667% in 4 months but recently fell 68% due to a double-top pattern. Analysts advise avoiding the stock amid bearish momentum and suggest waiting for a rebound near support levels around Rs 740. Immediate support is at Rs 875, with resistance at Rs 1,118-1,190.