Newsmen Business Desk
Nifty Closes Lower Following Two Consecutive Sessions of Rally
Jasani reported that at the close, the Nifty exhibited a decline of 0.91%, equivalent to 197.8 points, settling at 21,513. The cash market volumes on the NSE remained below Rs.1 lakh crore, indicative of subdued sentiments in the market.
Incredible Growth: Fintech Unicorn Incred Records Rs 109 Cr Profit in FY23, Revenue Surges Over 77%
The financials filed with the Registrar of Companies (RoC) reveal that Incred's revenue witnessed a remarkable surge of 77.46%, reaching Rs 866 crore in FY23, compared to Rs 488 crore in FY22.
Vistara Expands Horizons: Direct Flights from Mumbai to Paris Soon to Take Off
Currently, Vistara operates five weekly flights to Paris from Delhi. With the addition of the Mumbai-Paris route, the Gurugram-based airline aims to strengthen connectivity between India and Europe.
Uber India's Fiscal Year 2023: Rs 679 Cr Ride Revenue, Losses Surge by 57%
Rides on the platform contributed to 25% of the total operating revenue, witnessing a substantial 75% increase to Rs 679 crore in FY23.
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Milestone Achievement: Patanjali Foods Reaches New 52-Week High
Over the past year, Patanjali Foods has delivered a robust 43% return, with a 5.3% rise in the last month and a notable 34% increase in the last quarter.
Optimal Comfort at a Price: IndiGo Introduces Front Row Aisle or Window Seat Selection with Charges up to Rs 2K
According to information on the airline's website, passengers choosing window or aisle seats in the front row of an A321 aircraft (typically accommodating 222 seats) will now be subject to a fee of Rs 2,000.
RBI Plans Auction of Government Bonds Worth Rs 33,000 Crore on January 12th
These categories include the “7.37 per cent Government Security 2028” valued at Rs. 7,000 crore, the “7.18 per cent Government Security 2033” valued at Rs. 16,000 crore, and the “7.30 per cent Government Security 2053” worth Rs. 10,000 crore.
Current Fiscal Year Sees Direct Tax Collections Surge by 21%, Exceeding Rs 13.7 Lakh Crore
This robust collection comprises Corporation Tax at Rs 6,94,798 crore (net of refund) and Personal Income Tax, including Securities Transaction Tax (STT), at Rs 6,72,962 crore (net of refund).
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BP Halts Red Sea Oil Shipments Post Houthi Rebel Attacks
Several freight companies have also suspended their ships after being targeted by Houthi rebels in Yemen.
Profit-Taking Emerges Following a Sharp Three-Day Rally
Global markets traded cautiously ahead of the Bank of Japan's meeting, potentially signaling changes in its ultra-loose monetary policy.
RBI's Penalties on Banks and NBFCs Total Rs 40.39 Crore for 2022-23
Cooperative banks faced 176 cases, leading to fines amounting to Rs 14.04 crore. Private sector banks incurred penalties of Rs 12.17 crore, while public sector banks (PSBs) faced fines of Rs 3.65 crore.
IFU Allocates $35 Million Funding to Enhance Blue Planet's Vital Operations in India
IFU's Investment Director, Jonas Lau Kristensen, emphasized their commitment beyond financial backing, aiming for a sustainable and inclusive future.
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Markets Experience Subdued Activity Amidst Concerns Over Oil Supply and Elevated Valuations
Rupak De, Senior Technical Analyst at LKP Securities, notes a potential interruption in the ongoing rally based on the Nifty's daily chart and signals from the RSI indicator. A correction may occur if the index falls below 21,350, with short-term support at 21,220/21,100, while resistance is expected at 21,500.
Foreign Institutional Investors (FIIs) Acquire Rs 20,000 Crore Worth of Stocks in a Fortnight
The BSE Sensex is presently up 27 points at 71,511 points, with Sun Pharma showing a 1.6% increase.
Jeff Bezos Invests Rs 350 Crore in Ambitious Project: Building a Clock Designed to Last 10,000 Years, Report
Visitors will be limited to maintain the clock's integrity and mystery, and energy-saving measures include updating display dials only when a visitor is present.
Navigating the Spectrum: Rajeev Chandrasekhar Discusses Utilization of ChatGPT and Bard
Addressing the conclave, Chandrasekhar emphasized that, in the realm of artificial intelligence (AI), it is technological talent rather than chip-driven computer power that will propel India's progress.
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Adani Group's Resilience Shines Amidst Persistent Challenges
The strategic investments in core infrastructure businesses, including utilities, transport, and other ventures, contributed significantly to this growth. The Adani Group's response to attacks by short sellers not only thwarted their intended impact but also strengthened the group's position, earning accolades as the best all-round wealth creator in Motilal Oswal's rankings for 2018-2023.
Mensa Brands Records a Loss of Rs 329 Crore in FY23 for D2C Operations
Despite the challenging financials, Mensa Brands demonstrated robust performance in terms of operating revenue, which climbed to Rs 1,317 crore in the fiscal year ending March 2023, a significant uptick from Rs 339.2 crore recorded in FY22.
Foreign Portfolio Investors Recorded in Banking and IT Stocks
Anticipating continued FPI stock buying, he emphasized India's status as a top FPI investment destination.
Surat's Diamond Bourse to Be Inaugurated by PM Modi on December 17th
The inauguration, graced by Chief Minister Bhupendra Patel, signifies the government's commitment to this transformative initiative.
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India's November Trade Deficit Shrinks with Dip in Imports
November witnessed a substantial decrease in gold imports, nearly halving to $3.45 billion from October's $7.2 billion, and a 22% reduction in oil imports, totaling $13.71 billion due to falling crude prices. Electronic goods imports also notably dropped by around 17% to $6.49 billion.
India Witnesses Highest Influx of Dedicated Investments in Years, Surpassing 2003-2006 Peaks
Emerging markets, reaching a four-month high at $4 billion, were primarily buoyed by China's recovery and sustained investments in India, favoring predominantly large-cap funds.
Market Value of BSE Listed Companies Skyrockets by Rs 8.55 Lakh Crore in a Week
PSU bank stocks extended gains for the 11th consecutive trading session, contributing to the market's robust performance.
Nifty Shows Impressive 3% Surge Over Last Two Days
Nifty closed near its day's peak, climbing by 274 points (+1.3%) to reach 21,456 levels on Friday. Sector-wise, there was a mixed performance, notably with buying observed in IT, PSU banks, metals, and oil & gas stocks.
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Bank Nifty Anticipated to Surge Towards the 50,000 Milestone
The prevailing market sentiment continues to be bullish, underpinned by a robust foundation at 47,500. Any potential retracement toward this support level is perceived as a chance for investors to capitalize on buying opportunities.
Indian Foreign Exchange Reserves Surge, Reaching a Four-Month Peak at $606.9 Billion
This upswing follows a substantial increase of $6.107 billion in the preceding week, elevating the reserves to $604.042 billion—an achievement not surpassed since the week concluding on July 14.
Analysts Predict Bank Nifty to Reach 50,000-Mark in Upcoming Projections
Vinod Nair, Head of Research at Geojit Financial Services, noted that market buoyancy persists, driven by investor expectations that concerns over US economic growth will ease by the second half of CY24. Investors are optimistic that the economy will experience a soft landing, aided by the normalization of monetary policy.
Adani Finalizes Agreement: Sells 49% Stake in Ennore Terminal to Global Shipping Giant
The Ennore terminal, with a valuation of Rs 1,211 crore, including debt, is expected to conclude the transaction in the next three to four months, as stated in an official release by Adani Ports.
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Hyundai Achieves Milestone: Sells Over 500,000 Bluelink Connected Cars in India in Four Years
The platform offers over 60 connected functions, including proactive alerts, SOS/emergency assistance, trip history, remote vehicle status, and more. The success of Bluelink reflects the growing preference for vehicles with advanced connectivity features among Hyundai customers.
Minister Announces India's Decision to Purchase Oil from Venezuela
The move comes as part of India's strategy to diversify its sources of oil imports and secure supplies at competitive prices. The U.S. lifted sanctions on Venezuelan oil in October, prompting Indian refining companies to resume purchases.
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