Stocks in news: General Insurance Corp, ONGC, SpiceJet, GSK Pharma, Cipla
Stocks in news: Domestic markets remained steady with minor changes, continuing a gradual uptrend. Key stocks in focus include General Insurance Corp, ONGC, SpiceJet, GSK Pharma, and Cipla due to various developments. Notable updates include the government’s stake sale in General Insurance Corp and ONGC’s potential refinery project.
Finance minister Nirmala Sitharaman asks ministries to set quarterly capex targets
Finance Minister Nirmala Sitharaman has urged various ministries and departments to speed up capital spending and set quarterly targets. In a series of meetings, she reviewed productive spending and asset creation across infrastructure sectors. Discussions included national highways, private capital attraction, and FY25 capex plans for Bharat Net and 4G mobile projects.
Targeting 7%+ growth for next 2 decades: DEA secretary
The secretary called for “deepening and widening” the corporate bond market, expanding access to insurance, pension and capital market products, and improving the quality and efficiency of financial services that would reduce the intermediation cost.
11 smallcap mutual funds offer over 35% SIP returns in five years
In the past five years, nearly half of all smallcap funds have delivered impressive SIP returns exceeding 35%.
SoftBank-backed OfBusiness plans up to $1 billion India IPO, exec says
OfBusiness, an Indian shopping website backed by SoftBank, plans a $1 billion IPO in the second half of 2025. The company is in talks with major banks to manage the offer. Proceeds will be used for debt repayment and business growth. OfBusiness targets a valuation between $6 billion and $9 billion.
NSE indices shakeup to trigger $633 million inflows for 5 PSU stocks
Benchmarks use a straightforward rule of reward and reprimand for periodic asset adjustments: high-performing stocks are included, while underperformers are removed. This rebalancing ensures that an index accurately mirrors its intended market segment. The NSE Indices Committee has recently announced the September 2024 semi-annual reshuffle, impacting major indices.
How Godrej Ind, Jindal Saw, Bombay Burmah look on charts for tomorrow
Indian markets closed mixed on Tuesday tracking muted global cues and due to profit-taking at higher levels. The S&P BSE Sensex closed flat with a negative bias.
Govt to sell 6.78% stake in GIC Re via OFS, sets floor price at Rs 395/share
The issue, estimated at Rs 4,701 crore, opens for non-retail investors on Wednesday and for retail investors on Thursday. Employees can subscribe to 50,000 shares.
Indians see uncertainty ahead despite strong growth: Survey
A survey by Aditya Birla Sun Life Insurance reveals that despite India’s economic growth, salaried Indians face high uncertainty. Economic concerns like job loss and technological advancements such as AI are top worries. The survey highlights the need for substantial preparedness among the traditionally stable middle-class population.
Suprajit Engineering among 5 companies with ongoing share buyback programs
Companies often initiate buybacks to return capital to shareholders, signal confidence in their stock, or improve financial metrics like EPS.