Meesho shares can fall 28%, warns Nomura after initiating coverage with Reduce call. Here is why
Shares of Meesho dropped up to 5% to Rs 221 after Nomura initiated coverage with a Reduce rating and a Rs 167 target price, citing a 28% downside risk. The brokerage highlighted valuation concerns, rising competition from quick commerce, and margin headwinds despite liking Meesho’s asset-light model.
Balrampur Chini Mills shares rally 4% as company receives Rs 75 crore BioE3 grant from government
Balrampur Chini Mills shares gained after the government awarded a Rs 75 crore BioE3 grant for a 100 TPA PLA co-polymer R&D facility at its Kumbhi manufacturing complex in Uttar Pradesh.
OFSS shares tumble 5% after Oracle sends ‘force majeure’ notice for data centre project. Are AI worries coming true?
Oracle Financial Services Software (OFSS) shares tumbled over 5% after parent company Oracle issued a force majeure notice regarding a massive New Mexico AI data centre project. The development triggered financing concerns across AI infrastructure, sending OFSS stock to a nine-week low of Rs 10,332 on the NSE.
NSE shares fall 2%, trade marginally above IPO price after debut. Why are Macquarie, other brokerages bullish?
NSE shares fell by 1.6% to Rs 1,790 following its stock market debut on Thursday. Brokerages Macquarie and Emkay assigned positive ratings, citing growth potential and resilient market leadership. NSE’s market capitalisation now ranks among the largest firms in India. Analysts expect varying revenue growth rates for transaction income and diversified revenue streams. Overall, optimistic […]
Dollar set for weekly gains as yields surge, Fed bets build
The dollar has achieved consecutive weekly gains for the first time in over three months, bolstered by rising Treasury yields. Anticipations of additional rate hikes from the Federal Reserve are enhancing the currency’s strength against competitors like the euro and sterling. Meanwhile, the Japanese yen falters as market participants scrutinize the Bank of Japan’s recent […]
Negative Breakout: These 8 midcap stocks cross below their 200 DMAs
In the Nifty500 pack, eight stocks’ closing prices crossed below their 200-day moving averages (DMA) on September 24, according to technical scan data from StockEdge. Trading below the 200 DMA is generally considered a negative signal, as it suggests that a stock’s price is below its long-term trend. The 200 DMA is a widely used […]
IRDAI proposes clawback of commissions in case of mis-selling
Under the proposed framework, distributors could be rewarded for the quality of sales and servicing, while commissions could be clawed back in cases of mis-selling. The regulator has also proposed greater accountability for individual sales staff by tagging their identity to policies sold and putting information on mis-selling incidents in the public domain.
Safety most important in managing forex reserves says RBI Deputy Governor Rohit Jain
RBI Deputy Governor Rohit Jain stated that safety is the highest priority when managing foreign exchange reserves. Liquidity and return are also important, but must follow safety in order of importance. Jain highlighted that the current reserves are the highest on record at $781 billion, ranking fifth globally. He urged financial institutions to develop the […]
Can Runwal Enterprises IPO deliver long-term growth for high-risk investors?
In an effort to improve its financial health, Runwal Enterprises is set to raise ₹500 crore through a fresh issue primarily aimed at debt repayment. As a result of the upcoming IPO, the stake of the promoter group will diminish, potentially altering their influence over the firm. Concentrating mainly in Mumbai, the company showcases its […]
NSE becomes world’s sixth largest bourse with $47 billion m-cap
The National Stock Exchange of India has recently reached an impressive market capitalisation nearing $47 billion. Shares began trading at ₹1,800, slightly above the issue price of ₹1,785. With a price-to-earnings ratio of 43 times, it outperforms many global exchanges. Experts predict a strong growth in India’s capital markets, estimating an annual cash market turnover […]