BlueStone rises 15% in a month as investors bet on scale-driven model amid improving store maturity
BlueStone Jewellery’s shares have surged 15% in a month, outperforming the market. Analysts anticipate margin growth driven by operating leverage and store expansion, with over half of its 323 stores now achieving significant annual revenue. The company’s revenue grew 34% year-on-year, while net losses narrowed considerably.
RBI may keep call rates and treps below the repo
The Reserve Bank of India aims to keep overnight borrowing costs below its main lending rate. This strategy supports economic growth despite rising imported inflation. Policymakers may overlook current high inflation figures. They are expected to maintain interest rates unchanged. This approach counters a slowdown and avoids hindering growth. Support from monetary and fiscal policies […]
Rupee almost touches 94 to $, likely RBI intervention prevents breach
The Indian rupee neared 94 against the dollar on Wednesday, despite a pullback in equities. Central bank interventions helped keep the rupee above this psychological threshold. Exporters withholding conversions and month-end dollar demand contributed to the pressure, while geopolitical tensions also played a role.
Bain Capital makes open offer to raise Manappuram stake to 41.7%
Bain Capital has launched an open offer to acquire an additional 26% stake in Manappuram Finance at ₹236 per share, following its earlier purchase of an 18% stake for ₹4,385 crore. If fully subscribed, Bain’s holding could rise to 41.66%, after which it will be classified as a promoter and jointly control the company with […]
Framework to measure tech health of bourses on the cards
The market regulator has proposed an IT Resilience Index (ITRI) to assess the technology robustness of stock exchanges and other market infrastructure. This index will monitor the health of IT systems, with availability and security carrying the highest weightages. The framework aims to provide clearer insights into vulnerabilities and enable inter-institutional comparisons.
Morgan Stanley sees S&P profit boom despite West Asia war
Despite Middle East conflict, Corporate America’s growth remains strong, with strategists boosting profit outlooks. This resilience, defying concerns over oil prices and consumer demand, suggests the current oil spike is unlikely to end the business cycle. Analysts now estimate S&P 500 companies will grow profits by 11.9% in the first quarter.
Nifty’s rebound not enough to allay Dalal Street fears
Indian equities saw a relief rally with the Nifty climbing 3.5% in two sessions, fueled by optimism over de-escalation in West Asia and softening crude prices. However, the Volatility Index (VIX) only eased a modest 7%, indicating traders are maintaining hedges due to uncertainty about the sustainability of the current peace and the market’s bottom.