How Shoppers Stop, Bajaj Auto & Zomato look on charts for Thursday
Indian market snapped 2 days of gains to close in the red on Wednesday, tracking muted global cues.The S&P BSE Sensex fell nearly 400 points while the Nifty50 managed to hold on to 24,900 levels.
Goldman Sachs buys over 13 lakh shares worth Rs 75 crore in Arvind Fashions via block deal
Goldman Sachs acquired 13 lakh shares of Arvind Fashions for Rs 75.35 crore in a block deal at Rs 574.73 per share, a slight discount. The stock closed at Rs 583.95, gaining 0.73%. Arvind Fashions has outperformed the Nifty, delivering a 75% return over the past year.
Promoter entity Proximus Opal to sell 6% stake in Route Mobile via OFS; floor price set at Rs 1,635/share
The upcoming share sale starts on Thursday for non-retail investors, with retail investors getting their chance on Friday. Proximus Opal currently holds a majority stake in Route Mobile. This offering aims to comply with SEBI’s regulations on minimum public shareholding.
Sebi tweaks framework on margin trading facilities
To promote ease of doing business, markets regulator Sebi on Wednesday allowed securities funded through cash collateral to be considered as maintenance margin for margin trading facility (MTF).
Commodity Talk: MCX crude oil contracts down 10% amid current turmoil. Is it time to sell on rise?
Prices are likely to find support around Rs 5,500 on MCX and $65 on NYMEX WTI. However, while potential OPEC+ production cuts and a possible 25 bps rate cut may provide temporary relief, overall market fundamentals suggest continued downward pressure. Ample supply and weak demand growth projections are expected to keep prices low in the […]
10-year benchmark yields hit 30-month low of 6.82% on falling oil prices
Yields on the 10 year benchmark yields softened to a 30-month low to 6.82%, tracking a softening in the US bond yields due to a fall in crude oil prices yesterday. This is the lowest level since March 31st 2022, LSEG data showed.
India, US work for critical minerals self-reliance, supply chains
India and the US are collaborating to become self-reliant in critical minerals, strengthen supply chains, and adopt advanced technologies. Commerce and Industry Minister Piyush Goyal announced his upcoming visit to Washington for the India-US CEO Forum. He emphasized the strategic relationship between the two nations and their shared interests in bilateral and geopolitical issues.
Quant Mutual Fund among top five AUM gatherers in 3 years: Sandeep Tandon
The fund house has not only excelled in the short term but has also become one of the top three to five in terms of asset under management (AUM) and folio growth over the past three years. This consistent performance has solidified Quant Mutual Fund’s position as a key player in the market.
Tech view: 24,753 level to offer short term support in Nifty, Caution advised for traders. How to trade on Thursday
The Indian markets closed lower, with the Sensex down 398 points and the Nifty slipping 122.65 points. The Nifty’s recent swing low of 24,753 may provide short-term support, while 25,200 remains strong resistance. High open interest is noted at 25,000 and 24,800 strike prices.
Persistent growth momentum to continue as JM Financial sees 13% upside potential
JM Financial forecasts a 13.4% upside for Persistent Systems (PSYS) with a target price of Rs 6,030, citing strong deal wins and stable revenue momentum. Expected to achieve a 15.5% EBIT margin by FY25, PSYS shows promising medium-term growth.