Rupee slips 5 paise on safe-haven dollar demand
The Indian rupee closed marginally weaker at 96.26 against the US dollar on Wednesday. Safe haven dollar demand kept the rupee on a weaker footing throughout the trading session. Mild central bank interventions helped contain further losses for the Indian currency. Meanwhile, Brent futures climbed two percent to $86.44 a barrel. This oil price increase […]
SBI Funds IPO subscribed 2.77 times on Day 2; NII segment leads demand
SBI Funds Management’s IPO saw strong subscription interest on its second day. The Qualified Institutional Buyer portion was subscribed 1.5 times, while retail investors showed good engagement. Non-Institutional Investors showed significant interest, subscribing 6.58 times to their allocated portion. Shareholders of its parent company, State Bank of India, subscribed 3.98 times. This significant IPO, the […]
Buoyed by Q1 show, Indian IT shrugs off IBM shock
Indian technology stocks demonstrated resilience on Wednesday, defying IBM’s significant overnight decline. Depressed valuations and positive first-quarter results provided support for local outsourcing firms. The Nifty IT index saw a minor dip, while the broader Nifty 50 index edged higher. Analysts noted that IBM’s issues were not directly correlated with Indian IT services. Investor concerns […]
US data surprise eases rate hike fears, also cheers D-Street
Indian equities closed higher, mirroring gains across Asian markets after US inflation data. Oil prices around $85 a barrel limited upside, raising supply disruption concerns. The NSE Nifty rose 26.5 points, while the BSE Sensex gained 130.5 points. Geopolitical tensions in the Middle East have made investor sentiment cautious recently. Foreign portfolio investors sold shares, […]
US stocks today: US stocks end higher on cool inflation data, strong earnings
Wall Street closed higher as softer US producer inflation and strong early Q2 earnings boosted sentiment. PayPal surged on a reported buyout offer, while BlackRock and Morgan Stanley beat estimates. Despite weak semiconductor stocks, easing rate hike expectations and solid bank results supported gains across major indexes.
JP Morgan moving closer to $1 trillion market value milestone
JPMorgan is approaching a $1 trillion market valuation after record profits and a strong share rally. Robust investment banking, diversified operations and investor confidence in CEO Jamie Dimon have strengthened its leadership, with sustained dealmaking expected to support further growth.
PayPal shares jump over 15% after Stripe, Advent make $53 billion buyout offer
PayPal shares surged after a reported $53 billion buyout offer from Stripe and Advent International, valuing the company at a premium. The proposal comes amid slowing growth and rising competition, positioning PayPal at the centre of a potential major fintech deal as investors await further developments.
PL Capital sees Nifty hit 27,000 in one year, names 15 top picks
PL Capital has raised its one-year Nifty 50 target to 27,019, implying over 12% upside, while warning that the escalating West Asia conflict and a potential super El Niño could fuel inflation and hurt growth. The brokerage remains stock-specific and has identified 15 preferred large- and mid-cap picks.
Angel One Q1 Results: Net profit doubles to Rs 231 crore
In the June quarter, Angel One reported impressive financial growth, with consolidated profit after tax soaring to Rs 231.4 crore, more than doubling year-on-year. The company experienced a robust 25.4 percent increase in total income, reflecting its expanding influence in the market. Additionally, its client base surged to 3.86 crore, prompting the declaration of an […]
Tata Capital raises USD 400 million from a bond issue in the US
Tata Capital successfully raised $400 million by selling dollar bonds abroad. Asian and European asset managers dominated demand for these instruments. The bonds mature in 42 months and were priced tightly. This marks Tata Capital’s second overseas dollar bond sale. Fitch Ratings affirmed the company’s ratings at ‘BBB-‘ in February.