HDFC Bank chair quits, cites conflict over ‘values and ethics’
HDFC Bank chairman Atanu Chakraborty has resigned from the board. He cited practices within the bank that did not align with his personal values and ethics. Keki Mistry has been appointed interim chairman for three months. Chakraborty’s tenure saw the significant merger of HDFC Bank with HDFC. His departure raises investor concerns for the systemically […]
If you’re not invested in India, it’s time to start: Vincent Mortier, CIO, Amundi
Amundi’s CIO Vincent Mortier views the market’s reaction to the West Asia conflict as logical and contained, with investors anticipating a resolution within weeks. He notes that while markets haven’t corrected enough for a definitive buying opportunity, it may be too late to sell, especially for India, which presents an attractive long-term investment window.
US Stocks: Trade Desk shares drop 5% after report that Publicis advised clients against using its platform
Trade Desk shares dropped significantly after French advertising giant Publicis Groupe advised clients to avoid the platform. An independent audit found Trade Desk violated agreement clauses. Publicis confirmed the findings and will no longer recommend Trade Desk. Trade Desk disputes the audit’s conclusions. The company faces strong competition in the ad tech market.
US Stocks: Unilever shares fall on investor concerns about food business spin-off
Unilever shares dropped as investors worried about a potential food business split. This comes soon after the company separated its ice cream brands. Analysts suggest the new CEO needs more time before further restructuring. The food business, including Knorr and Marmite, reported profits last year. Investors have long pushed for a sale of the slow-growing […]
Gold price slides below $5,000, drops to over one-month low
Spot gold dropped to a one-month low following the Federal Reserve’s decision to hold interest rates steady, with expectations of higher rates for longer. A stronger dollar and ongoing Middle East conflict, including an escalation involving Iran’s Pars gas field, further pressured gold prices.
Crypto exchange Kraken freezes IPO plans, CoinDesk reports
Cryptocurrency exchange Kraken has put its multibillion-dollar initial public offering plan on hold, CoinDesk reported on Wednesday, citing two people with knowledge of the matter
IPO bound Coal India arm CMPDIL garners Rs 470 crore from anchor investors
Central Mine Planning and Design Institute (CMPDIL) has raised Rs 470 crore from anchor investors, including LIC and several mutual funds, ahead of its Rs 1,842-crore IPO. The initial share sale, an offer for sale by Coal India, opens for public subscription on March 20 with a price band of Rs 163-Rs 172 per share.
Sensex jumps nearly 3,000 points in 3 days. Has the market found its bottom or too early to celebrate?
Indian markets extended a three-day rally, with Sensex rising over 700 points intraday and Nifty closing at 23,777. Gains were led by IT, realty, and auto stocks amid short covering and sectoral rotation. Analysts caution that resistance near 23,850–24,000 and geopolitical risks, crude prices, and rupee weakness could limit further upside.
Axis Bank shares rise 2% as lender set to invest Rs 1,500 crore into NBFC arm Axis Finance
Axis Bank shares gained after the lender approved a Rs 1,500 crore capital infusion into its NBFC arm, Axis Finance. The move follows a pause in stake sale plans amid regulatory changes. The investment aims to support growth, while the subsidiary prepares to present a revised strategy and capital requirements.
Dharmesh Shah advises buying on dips, sees favourable risk-reward ahead
Dalal Street shows improved sentiment after three consecutive gains, but experts caution it’s a technical pullback from oversold levels, not a full recovery. While historical data suggests limited downside and strong recovery potential, investors are advised to view current dips as buying opportunities for medium-term portfolio construction.