Adani Energy shares crash to hit 20% lower circuit after 100% acquisition of Pune-III Transmission
Shares of Adani Energy Solutions crashed 20% to hit their lower circuit at Rs 697.70 on the BSE today after the company announced that it has entered into an agreement with PFC Consulting for the acquisition of a 100% stake in Pune-III Transmission (PTL). However, the crash in the stock has come after Gautam Adani,…
READ MORE
Stocks to buy today: Varun Beverages, IndiGo among top 8 trading ideas for 21 November 2024
The Nifty futures closed negative, with losses of 0.10%, at 23,491 levels on Tuesday. The Indian market remained shut on Wednesday, due to a public holiday.On the options front, the maximum Call OI is placed at 24,000, and then at 23,700 strikes, while the maximum Put OI is placed at 23,000, and then at 23,500…
READ MORE
Can expect a 5-7% Santa Claus rally in 6-8 weeks: CLSA on Indian markets
The stock market may see a “Santa Claus rally” of 5-7% over the next six to eight weeks, said Vikash Kumar Jain, India strategist at brokerage CLSA. Jain said the market has already absorbed the selling by foreign investors, geo-political tensions, some large IPOs and a weaker results season in the last couple of weeks….
READ MORELooking to buy a house in a top Indian city? Be prepared to pay over Rs 1.2 cr
Demand for luxury homes has surged across India’s top seven cities post-pandemic, leading to record sales and new launches, according to ANAROCKβs latest report. In H1 FY2025, the average ticket size of homes in these cities reached Rs 1.23 crore, up from Rs 1 crore in the same period of FY2024.Anuj Puri, Chairman of ANAROCK…
READ MORE
Escalating tensions in Europe erode early gains on D-St; FPIs further sell shares worth Rs 3,412 cr
India’s benchmark Nifty snapped its seven-day losing streak on Tuesday, with some relief buying visible after frontline indices plunged 10% since the 26,000-plus record highs reached toward the end of September. However, gains achieved through the first-half of the day were largely erased in the last hour of trading due to escalation of tensions between…
READ MORE
NPA provisioning moderates in Q2 driven by PSU banks
Provisioning for bad loans by banks fell in the September quarter for the second consecutive period based on year-on-year comparison driven by the public sector banks (PSBs). For a sample of 29 publicly listed banks, provisioning for nonperforming assets (NPA) fell by 2.9% to βΉ27,318.2 crore. For PSBs, it fell by 11.6% to βΉ14,628.3 crore…
READ MORE
Asian markets struggle as traders weigh geopolitical tensions
Hong Kong: Asian investors struggled Wednesday to track a positive lead from Wall Street as they assess the prospect of an escalation in the Russia-Ukraine war, Donald Trump’s second presidency and the outlook for US interest rates. They were also keenly awaiting the release of earnings from chip behemoth Nvidia later in the day, which…
READ MORE
China funds cut ETF fees, escalating price war in booming market
Major Chinese fund companies announced a reduction in fees for a batch of equity exchange-traded funds (ETFs) on Wednesday, intensifying price competition in the rapidly expanding $400 billion sector of the market. The move to cut management and custodian fees came a day after Wu Qing, China’s chief securities regulator, pledged to encourage index investment…
READ MORE
Citi India Strategy: Maintains a 20% overweight allocation on India
Citi’s latest India strategy highlights mixed trends during the recent festive season, alongside strategic shifts in global allocations. While festive demand across sectors varied, Citi remains confident in Indiaβs positioning, maintaining a 20% overweight allocation on the country. Festive Demand: A Mixed Bag The commentary from companies regarding the festive season has been varied, with…
READ MORE
infosys: Stock Radar: Infosys could hit fresh lifetime high of Rs 2,000; time to buy?
Synopsis Infosys stock, after a recent dip, shows signs of recovery, bouncing back from its August lows. Analysts suggest a potential upward trend, with a possible target of Rs 2,000, contingent on maintaining its position above the Rs 1,800 mark. IT major Infosys remained range-bound for the past few weeks but managed to bounce back…
READ MORE