BUSINESS
Nifty Witnesses Second Consecutive Decline Amid Profit Booking and Weak PMI Data
Even Domestic Institutional Investors (DIIs), who have been consistent buyers, are now booking profits. Vijayakumar suggests that this profit booking, along with simultaneous dip buying, will likely keep the market highly volatile in the near term.
Brokerages on Standby: Assessing GST Notice Impact on Zomato Before Factoring In
The notice requires Zomato to provide reasons why a tax liability of slightly over Rs 4 billion, pertaining to delivery charges collected from customers on behalf of delivery partners, should not be demanded, along with relevant interest and penalty.
2023 Sees a Slower Unicorn Creation Rate with Only Two New Companies, a Sharp Contrast from 2022's 21
The year saw PE-VC firms injecting $29.7 billion into Indian companies across 756 deals, a significant drop from the $47.6 billion invested in 1,362 deals in the preceding year.
India's Manufacturing Sector Records 18-Month Low Growth in December Due to Slower Order and Output Increases
The survey revealed a noteworthy yet softened increase in factory orders and output, resulting in the HSBC India Manufacturing Purchasing Managers’ Index (PMI) dropping from 56 in November to a low of 54.9 in December.
Out of 57 IPOs in 2023, 41 Garnered Over 10 Times Response, Signaling Strong Investor Interest
However, when excluding the substantial LIC IPO from 2022, the IPO mobilization witnessed a notable 28 percent increase compared to the preceding year.
40 Companies, Eyeing Nearly Rs 70,000 Cr Through IPOs, Let Approval Lapse in 2023
Pranav Haldea, Managing Director of PRIME Database Group, anticipates a flurry of IPO launches in the coming months before a potential slowdown due to the upcoming general elections.
Adani-Hindenburg case: SC refuses to transfer case to CBI, asks SEBI to complete probe within 3 months
In its verdict, the court specified that both the government and SEBI will scrutinize any potential violations of the law by Hindenburg related to short-selling, and appropriate actions will be taken in accordance with legal provisions.
Transporters Cancel Strike Following Government's Assurance
The All India Motor Transport Congress (AIMTC) delegates engaged in a meeting with Union Home Secretary Ajay Bhalla on Tuesday.
Rupee Declines by 11 Paise, Closes at 83.32 Against US Dollar
Forex traders noted that foreign fund outflows and the demand for the US dollar from importers influenced investor sentiments.
Fidelity, Investment Giant, Slashes Valuation of Musk-Run X by 71.5%
Fidelity had initially acquired a stake in X Corp for $300 million in October 2022 when Elon Musk took over the platform, previously known as Twitter, for a sum of $44 billion.
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