Persistent growth continues, but rising acquisition costs could impact overall profitability for businesses
Following a major acquisition announcement, Persistent Systems stock has seen a remarkable rebound. In its latest June quarter results, the company reported robust revenue growth, boosting its future earnings outlook. However, upcoming costs linked to interest and wage hikes could pressure profit margins. As a result, investors can expect the stock to trade within a […]
Oil Price Today (August 28): Crude oil falls over 5% this week despite Trump rejecting terms of Iran deal. What are experts saying?
Brent crude futures fell 50 cents, or 0.6%, to $89 a barrel, while West Texas Intermediate crude futures declined 42 cents, or 0.50%, to $83. Brent was on track to lose 5.3% for the week, while WTI was set to fall 4.3%.
BofA initiates coverage on Polycab, KEI with buy ratings; sees up to 22% upside
BofA expects India’s wires and cables industry to grow at a 14% compound annual rate between FY26 and FY29, supported by spending on infrastructure, renewable energy and power grids, as well as exports.
Global Market Today: Asian shares slip as US stock futures dip ahead of Warsh’s Jackson Hole speech
Futures for the Nasdaq 100 Index fell 0.3% and those for the S&P 500 Index retreated 0.2% as initial enthusiasm about the artificial intelligence trade following Nvidia Corp.’s bullish outlook waned. Sentiment was weighed down by Marvell Technology Inc., which fell more than 7% in extended trading following its earnings report.
Investors panic as India hints at import duty cut, sending gold and silver ETFs plummeting
Exchange-traded funds for gold and silver experienced marked declines on Thursday, even as global precious metal prices held steady. Anticipation surrounding a potential cut in government import duties on these commodities has emerged, which could lower their costs in India. This speculation is driving increased selling activity in domestic ETFs.
FPIs raise India bets in August, DIIs continue buying amid caution
After a robust July, foreign portfolio investors increased their equity acquisitions in August, marking a moderate uptick. Domestic institutional investors also continued their purchasing activities, though at a more measured pace. This buying spree aligned with a surge in IPO and OFS issuances within Indian markets. Interestingly, foreign investment trends shifted away from South Korea […]
Stock market holiday: Are NSE, BSE closed today for Raksha Bandhan? Find out here
The Indian stock market will remain open on August 28 for trading. Both NSE and BSE will operate normally on this date. Commodity markets will also function as usual on August 28. The market will next close on September 14 for Ganesh Chaturthi. Upcoming holidays include October 2 and November 10.
Bankex put sees a dramatic surge of 14,700% on expiry day
Bankex options saw a significant surge during Thursday’s expiry session. This unusual spike occurred within minutes, causing considerable trader reaction. Indicative closing levels briefly showed a steeper Sensex decline than expected. Several Bankex put options experienced sharp premium jumps, impacting sellers. The Sensex and Bankex closed lower, while Nifty and Bank Nifty saw smaller declines.
Irdai opens NDB’s Maharajah INR bonds to insurers
In a circular dated August 27, the regulator said that it had received representation from New Development Bank to permit Insurers to invest in Maharajah INR Bonds. NDB plans to use the proceeds for general corporate purposes, including financing or onward lending to sustainable development, sustainable infrastructure, green and social projects in India.
HDFC Bank’s CEO call gains urgency as Sashidhar Jagdishan’s term nears end
The timeline stands in contrast to Jagdishan’s previous reappointment. HDFC Bank’s board had recommended a fresh three-year term for him on March 4, 2023, nearly eight months before his first tenure was due to expire. The Reserve Bank of India approved the appointment in September that year.