MUFG rejoins Yes Bank race, submits initial bid for a majority stake
Japan’s MUFG has re-entered the race to acquire a majority stake in Yes Bank after its proposal to invest in HDB Financial was rejected. MUFG has submitted a non-binding offer and is conducting due diligence, negotiating mainly with Yes Bank and SBI.
LIC eyeing strategic stake in Standalone Health Insurance Company
The health insurance sector is now the fastest-growing segment in the country’s insurance industry, driven by rising healthcare costs and increasing awareness of the need for coverage.
US port strike to hit Indian textile, pharma, auto part exports, push costs up 3x: GTRI
The ongoing strike at 14 major ports in the US is causing significant delays in unloading and processing shipments from India. This impacts goods like textiles, pharmaceuticals, and auto parts. The strike could lead to higher costs and longer transit times for Indian exporters who are already facing challenges. The backlog is expected to increase […]
Zaggle stock shows resilience amid volatile market backed by acquisitions and partnerships
Zaggle Prepaid Ocean Services stock has gained 28% in the past month and 51% in the past three months. The company’s acquisitions and partnerships are expected to boost future growth. Analysts have raised EPS targets. Zaggle offers SaaS-based employee spend management services to corporates and has a diverse client base.
India-US CEO forum: Investment in India’s industrial cities, critical sector tie-ups discussed
India and the US discussed potential American investments in 20 upcoming Indian industrial cities. Key areas of collaboration include defence, space, semiconductors, telecom, AI, and clean energy. The discussions aimed at strengthening bilateral cooperation and fostering mutual growth. CEO Forum members also highlighted important sectors to promote entrepreneurship, healthcare, and digital infrastructure.
Tech view: ‘Sell on rise’ strategy advised in Nifty with 25,000 as key support. How to trade tomorrow
A bearish candle suggests further market weakness. Traders should “sell on rise” and only buy above 26,000. Key levels to watch are support at 25,000 and 24,750, and resistance at 25,500. Breaking below support could trigger more declines, while hitting resistance may limit any upward movement, according to Hardik Matalia of Choice Broking.
Warren Buffett sells $338 million of BofA stock as spree slows
Warren Buffett’s Berkshire Hathaway has been gradually reducing its stake in Bank of America, with recent sales at lower prices compared to earlier disposals. The latest transactions fetched $338 million, marking a decrease from prior rounds, though Berkshire remains the bank’s top shareholder with a 10.2% stake valued at over $31 billion.
Sebi crackdown on F&O mess: NSE option premium turnover may fall by 40%
Sebi’s plan to protect retail traders from the high-risk F&O segment may reduce NSE’s options premium turnover by up to 40%, according to market estimates. Of the six measures set to take effect on November 20, limiting weekly expiries to one per exchange is expected to have the most significant impact on trading volumes.
Should you book profits in KRN Heat Exchanger after multibagger debut?
KRN Heat Exchanger had an impressive stock market debut, jumping 118% above its issue price after strong IPO demand of over 213 times. The stock continued to rise, trading at Rs 475.85 on the BSE. Analysts attribute the company’s growth potential to its expertise in manufacturing fin and tube-type heat exchangers, adherence to international quality […]
Sensex’s 1,800-point fall is 3rd largest in 2024; 7 other times when it fell by 1K points or more
S&P BSE Sensex dropped by over 1,800 points, marking its third largest decline of 2024. This drop follows previous significant falls and is influenced by escalating hostilities between Iran and Israel, along with rising oil prices. Foreign institutional investors also contributed, pulling funds from Indian equities due to concerns over China’s economic stimulus measures.