stock talk

The blue-chip stock index on Wednesday notched its 13th straight day of gains, its best winning streak since 1987 and its highest level since February 2022, CNN reported. If the Dow closes higher for a 14th consecutive session, that would be its longest run of consecutive gains since May 1897, it said.

Q1 results of RIL, though a tad disappointing on top and bottom line, are good when viewed from the perspective of the growth engines of the company -- Jio Infocom and Reliance Retail -- which are doing well and shows promise of improving, going forward, he said.

Markets saw the benchmark indices rise on two of the five trading sessions. They lost on two, and the fifth was a flattish day. At the end of it, BSESENSEX inched up 78.52 points or 0.13 per cent to close at 62,625.63 points while NIFTY gained 29.30 points or 0.16 per cent to close at 18,563.40 points.

The one-lira and half-lira coins are now half millimetre thinner and have a different composition of copper, zinc and nickel, the NTV reported on Thursday. The weight of the one-lira coin has been reduced to 6.6 from 8.2 grams, while the half-lira coin to 5.5 from 6.8 grams, the report added. Such changes, the first in 14 years, have saved 30 per cent in the cost of coin production, according to media reports. It is reported that the cost of making the one-lira coin was about 3.48 liras before the changes, Xinhua news agency reported.

This despite concerns around global slowdown and a possible recession in the West due to unwinding of monetary policy by major global central banks, Windmill Capital added. As to the challenges in the current year to global economic and equity growth, escalation of geo-political tensions between Russia-Ukraine, China-Taiwan, and a fresh spike in prices of crude oil, the company said.

There have been many periods when both interest rates and stock prices went up. If GDP growth and corporate earnings are good, stock prices can go up despite rate hikes, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Indian market never dipped into bear territory this year unlike in many other markets like the US. So, this cannot be termed as a bear market rally, he added.

NDTV said that unless pending appeal proceedings were to successfully conclude, prior SEBI approval is needed for the Adani group to secure 99.5 per cent in the promoter group entity since this would consequently lead to acquisition of voting rights in respect of 29.18 per cent held by the RRPR Holdings in the news network.

Jhunjhunwala, who understood the future of online gaming in India when the industry was still in its infancy, owned 10.03 per cent or 65.88 lakh shares in Nazara Technologies, whose partnership with global e-sports platforms, game publishers and brands have made it the leading e-sport company in the country. Nazara is a diversified gaming and sports media platform with a presence in India and across emerging and developed global markets such as Africa and North America, with offerings across the interactive gaming, e-sports and gamified early learning ecosystems.

The third-quarter bottoms-up earnings-per-share estimate, an aggregate of consensus projections for individual companies in the S&P 500, fell by 2.5 per cent in July, according to FactSet. That is the biggest reduction during the first month of a quarter in more than two years and a larger decline than the historic average, Wall Street Journal reported.

On Tuesday, the scrip was changing hands at about Rs 2,438. According to UBS, the key among Reliance Industries' stock price performance drivers are new investment opportunities to deploy large cash flows profitably. With India's commitment to net-zero carbon emissions by 2070, UBS estimates it as an $20 trillion opportunity in renewables, batteries and hydrogen.