Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The 30-share Sensex gained 271 points to end at 28,805 and the 50-share Nifty ended up 84 points at 8,712.
Global expansion to drive the company's fortunes
The BJP that was written off by the exit polls put up a spirited fight winning 104 wards.
Benchmark Sensex trimmed early gains to close marginally higher while Nifty settled flat in choppy trade on Tuesday as gains in auto shares were offset by selling pressure in banking and energy shares. The 30-share BSE barometer closed marginally up by 37.08 points or 0.06 per cent to 60,978.75 with 15 of its stocks ending in green and the rest in red. The index opened higher and gained over 300 points to a high of 61,266.06 in early trade.
Benchmark indices started the trade on a weak note on Wednesday with the Sensex falling 564.77 points, following feeble global market trends and persistent foreign capital outflows. The 30-share BSE Sensex was trading 564.77 points lower at 52,612.68. The NSE Nifty dipped 162.4 points to 15,687.80. Among the Sensex pack, IndusInd Bank, Hindustan Unilever, Bajaj Finserv, Titan, Kotak Mahindra Bank and Bajaj Finance were the major laggards in early trade.
Benchmark BSE Sensex on Tuesday gave up intra-day gains to close lower by a little over 100 points on emergence of fag-end selling in FMCG, banking and IT stocks and weak opening in European stock markets. The 30-share BSE index declined 100.42 points or 0.19 per cent to settle at 53,134.35. During the day, it jumped 631.16 points or 1.18 per cent to 53,865.93.
Indian companies are now more confident about the execution skills of local banks.
Among the prominent gainers on the Sensex chart were Bajaj Finance, Bajaj FinServ, ICICI Bank, Axis bank, Tata Steel, IndusInd Bank and HDFC Bank -- rising as much as 3.50 per cent. NSE Nifty soared 271.65 points to settle at 17,625.70.
Equity benchmark Sensex pared its early losses to close higher by 231 points on Monday, helped by buying in index heavyweight Reliance Industries and ICICI Bank amid positive global trends. After falling 537.11 points to a low of 56,825.09 in morning trade, the 30-share BSE barometer staged a recovery in afternoon trade and climbed 231.29 points or 0.40 per cent to settle at 57,593.49. As many as 20 Sensex stocks closed with gains while 10 declined. The broader NSE Nifty recovered 69 points or 0.40 per cent to settle at 17,222 with 29 of its constituents ending in green.
HUL was the top loser in the Sensex pack, shedding around 4 per cent, followed by Maruti, HDFC Bank, PowerGrid, IndusInd Bank, HCL Tech and Bajaj Finserv. On the other hand, Axis Bank, SBI, ONGC and ICICI Bank were among the gainers. NSE Nifty fell 149.95 points to 13,817.55.
'It is flabbergasting to think that this heavenly region has, for decades, been coveted by India's aggressive neighbours,' says Claude Arpi after a recent visit to Ladakh. 'Wanting to use the newly created infrastructure to defend the borders after the clash of 2020 with China and the resulting standoffs, the home ministry is keen to boost border tourism to show that these areas are controlled by India.'
People in a Beijing district with some 2 million residents were ordered Sunday to undergo mass coronavirus testing following a series of infections as China tightened anti-disease controls ahead of the Winter Olympics.
Coffee Day Enterprises has already raised over Rs 334 crore from anchor investors.
At a time when banks are engaged in a fierce battle to gain market share in the credit card segment, Citibank India has been losing its share, both in terms of outstanding cards and spends in the last few years. Still, average spends on Citi cards are higher than any other Indian bank. Last year, the global banking behemoth announced exit from its consumer banking franchises in 13 markets across Europe, Middle East and Asia, including India, citing lack of scale.
Benchmark indices ended on a flat note on Thursday as fag-end selling wiped out intra-day gains amid weak global trends. The BSE benchmark Sensex slipped 8.03 points or 0.02 per cent to settle at 53,018.94. During the day, it had gained 350.57 points or 0.66 per cent to 53,377.54. Similarly, the broader NSE Nifty fell 18.85 points or 0.12 per cent to close at 15,780.25.
Bajaj Finance was the top loser in the Sensex pack, shedding over 2.5 per cent, followed by SBI, Bajaj Finserv, Tata Steel, Asian Paints and Axis Bank. NSE Nifty dipped 15.40 points to 15,763.05.
Since April there have been no new NFOs because of the delay in the implementation of the new norms around pooling of funds.
Axis Bank was the top gainer in the Sensex pack, surging around 4 per cent, followed by M&M, HDFC Bank, ITC, SBI, ICICI Bank, Maruti, Kotak Bank and Sun Pharma. On the other hand, HDFC, Titan, Nestle India, Bharti Airtel, ONGC and Infosys were among the laggards.
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
Fuelled by the $57.8-billion merger of HDFC twins (HDFC Ltd and HDFC Bank), M&A (merger and acquisition) transactions in India touched a record high of $124.2 billion in the first half of 2022-23. Bankers said with several transactions, including the government's stake sale in IDBI Bank and Hindustan Zinc in the pipeline, the ongoing financial year will end up as the best year for M&A activity in the country. Apart from the HDFC transaction, the $6.5-billion acquisition of Holcim stake by the Adani family and L&T's $3.2-billion acquisition of Mindtree added to the record transactions in the first half of FY23.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
With the July 1 deadline to apply for bank licence fast approaching, aspirants are scrambling to meet the Reserve Bank of India's (RBI) eligibility criteria to apply.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Bihar Chief Minister Nitish Kumar's Janata Dal-United on Tuesday took out processions across the state, urging people to be on guard against the Bharatiya Janata Party's alleged politics of communalism.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Benchmark indices Sensex and Nifty gave up early gains to close lower for a fourth straight session on Thursday due to selling in IT and banking shares amid weak global equities. The 30-share BSE benchmark settled 98 points or 0.18 per cent lower at 53,416.15. During the day, it hit a high of 53,861.28 and a low of 53,163.77. The broader NSE Nifty also pared initial gains and ended 28 points or 0.18 per cent down to settle at 15,938.65.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Equity benchmark Sensex plunged by 554.05 points on Tuesday, tracking deep losses in realty, auto and metal stocks amid widespread selling pressure in global markets. The 30-share index slumped by 554.05 points or 0.90 per cent to end at 60,754.86. The broader NSE Nifty fell by 195.05 points or 1.07 per cent to 18,113.05.
A large part of the work that CEO Sumit Gupta does is focused on educating users and the larger community about investing in cryptocurrencies, reports Neha Alawadhi.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Eight investment banks including HSBC and India's ICICI Securities and SBI Capital have submitted bids to manage a 10-per cent stake divestment in state-owned Coal India.
Kaizad Bharucha, executive director of HDFC Bank, emerged the highest earning banker for 2021-22 (FY22). This was revealed in a remuneration assessment of the country's top bankers, according to annual reports. Bharucha, who oversees wholesale banking at HDFC Bank, received Rs 10.64 crore remuneration in FY22, mainly due to Rs 4.46 crore as performance bonus. Although earned between 2017-18 and 2020-21 (FY21), the bonus payout was partly paid in FY22.
Around 29 trains have been delayed by two to five hours due to foggy weather, a railway official said.
The Reserve Bank of India's (RBI's) move to ban Mastercard from issuing new cards for not complying with the local data storage guidelines may hit five private banks, a non-bank lender, and a major card-issuing company. The impact is expected to be felt for a few months as these players transition to other card networks. According to Nomura Research, RBL Bank, YES Bank, and Bajaj Finserv are the ones most impacted by the ban as all their credit card schemes are allied to Mastercard. Among others, IndusInd Bank, Axis Bank and ICICI Bank have 35-40 per cent of their credit card schemes tied to Mastercard, the report said.
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
Notwithstanding the inflation pinch, analysts believe the Indian retail sector is on the 'cusp of accelerated earnings growth' as consumer sentiment and discretionary purchases bounce back from the Covid-19 pandemic. "The shift in consumer preference from the unorganised sector to the organised, coupled with uptick in domestic demand as people resume work from office, will cheer the Indian retail sector," says Nishit Master, portfolio manager, Axis Securities. Shopping malls are witnessing increased footfall in lower tier towns and standalone stores as consumption picks up and mobility improves.
Titan was the top gainer in the Sensex pack, rising 3.5 per cent, followed by Kotak Bank, SBI, Maruti Suzuki, Bajaj Finance, HUL, Axis Bank and Sun Pharma. On the other hand, NTPC, Tech Mahindra, PowerGrid and Infosys were the laggards.
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