At a time when exchange-traded funds (ETFs) were unloading Jio Financial Services from their portfolios, some active fund managers were placing large bets on the demerged financial services arm of Reliance Industries Ltd (RIL), a report by Nuvama Alternative & Quantitative Research shows. Motilal Oswal Mutual Fund and Quant Mutual Fund were the top MF buyers of the stock in August. They bought around 60 million shares each, together investing around Rs 2,800 crore.
In the Sensex pack, ICICI Bank emerged as the top gainer by rising 0.97 per cent, while Tata Steel advanced 0.92 per cent.
With Beijing remaining intransigent on the withdrawal of additional troops deployed by the People's Liberation Army (PLA) since the deadly border clash in 2020 in eastern Ladakh, India's bilateral ties with China remained frozen in 2023 with no forward movement on the horizon despite several rounds of diplomatic and military talks.
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
Bhatt said there is a shortage of 8,129 officers in the Indian Army that includes Army Medical Corps and Army Dental Corps.
US trade deficit rose to its highest level since 2012.
Government has scrapped kerosene imports by private companies and decided that only state-run firms will import the fuel to end its adulteration in diesel.
The MFN (Most Favoured Nation, meaning non-discriminatory treatment for each other) issue is of prime importance to India, as it wants to have greater access in the Pakistani markets.
The NSE Nifty cracked below the 10,800-mark to hit a low of 10,753.05 intra-day, before closing at 10,762.45 with a loss of 59.40 points, or 0.55 per cent.
Gambling debt, stock tip lead to $1 million settlement but no charges for golfer Phil Mickelson.
The BSE Sensex zoomed 318 points to end at 33,351.57, while the broader Nifty spurted 88 points to 10,242.65.
Banking stocks felt the heat due to worries that the lending rate cuts will hit their bottom line
Automotive (auto) and auto ancillary stocks have been in the fast lane thus far in 2023-24 (FY24), with the National Stock Exchange Nifty Auto Index surging nearly 27 per cent, outperforming the Nifty50, which has gained roughly 11 per cent during this period. The top-gear performance of auto stocks at the bourses, according to A K Prabhakar, head of research at IDBI Capital, has been triggered by the premiumisation of products across vehicle manufacturers, which has seen vehicle sales remaining relatively stable. "It is not about higher sales figures now, but about premiumisation.
BSE Midcap index outperformed the benchmark indices to end with 0.4% gains.
Against FY17 target of Rs 56,500 cr, Centre plans to fetch around Rs 6,400 cr in the first half.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
Hyundai Mobile, a unit of South Korean conglomerate Hyundai Corp, has entered into a strategic partnership with State Trading Corporation for selling mobile phones in India under which the PSU will give an import funding assistance of Rs 200 crore (R
'Three decades of intensive discussions, protocols and Confidence Building Measures were jettisoned one fine morning in 2020.' 'The primary lesson that has been learnt is that that there is no reliability about the Chinese.'
Muted quarterly earnings, mixed cues from global markets and unabated foreign fund outflows added to the volatility
In 1937, a hydrogen-powered German airship flying into New Jersey caught fire and crashed, killing 35 passengers on board. It was sort of a man-made disaster as some 100 people were loaded on to a balloon filled with the most flammable material in the universe. The airship was named Hindenburg. Eight decades later, in 2017, a graduate of international business management from the University of Connecticut founded a "forensic financial research" firm to specialise in spotting wrongdoings and frauds, or what it calls man-made disasters, at companies around the globe and take market bets against them.
International oil prices retreated from an over seven-year high but was still above $100 a barrel and continue to pose threat to India's inflation rate and current account deficit. While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing on the increase in international rates through a revision in petrol and diesel prices, which have been on a pause for over three-and-a-half-months in view of elections in Uttar Pradesh and four other states. The government is "closely monitoring the situation" and will "take appropriate steps as and when required", a top official said. Brent crude oil surged past $105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine.
Auto stocks are weighing on the indices.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
More than 90 per cent stocks in the NSE 500 universe are currently trading above their 200-day moving average (DMA). Experts say this is a sign that the market has become overheated and can lead to a correction or sideways movement for a long period. The 200-DMA is a key technical indicator used by traders to get a sense of market direction. A level, which is roughly a 40-week average, often acts as key support or resistance.
Wistron, which earlier pegged the losses at Rs 437 crore, later notified the Taiwan stock exchange that the total losses were around Rs 50 crore.
Trump also announced the appointment of Gina Haspel to head the Central Intelligence Agency -- the first woman selected for the agency's top post.
ETFs function like a mutual fund scheme and have underlying assets of government-owned companies.
HDFC, ONGC, Maruti Suzuki, HeroMoto Corp and Bajaj Auto gained the most on BSE Sensex
Fernandes wanted Coca-Cola Company to not just transfer 60 per cent of the shares of its Indian firm but also the formula for its concentrate to Indian shareholders.
The government on Thursday permitted 100 per cent foreign investment under the automatic route in oil and gas PSUs which have received in-principle approval for strategic divestment. The move would facilitate privatisation of India's second biggest oil refiner Bharat Petroleum Corp Ltd (BPCL). The government is privatising BPCL and selling its entire 52.98 per cent stake in the company.
I look forward to many years of success and friendship, working together to solve not only our problems, but world problems and problems of great danger and security, says President Trump in Beijing.
ICICI Bank was the top laggard in the Sensex pack, cracking over 5 per cent, followed by Kotak Bank, HUL, HDFC, IndusInd Bank, HDFC Bank and Nestle India. On the other hand, Hero MotoCorp, Bajaj Auto, Maruti, TCS and HCL Tech were among the gainers.
Tata Sons stake in the group's listed companies is now worth Rs 9.28 trillion, up 34.4 per cent on a year-on-year (YoY) basis. In comparison, the Government of India's stake in listed central public sector undertakings (PSUs) is currently valued at Rs 9.24 trillion
The merged entity will become the third biggest refiner behind IOC and Reliance Industries.
The Delhi high court on Thursday refused to stay the Agnipath scheme for recruitment in the armed forces and asked the Centre to file a reply on a batch of petitions challenging it.
State-owned Indian Oil Corp (IOC) on Friday said international oil prices have been range-bound in the last few weeks, warranting no revision in retail petrol and diesel rates. While petrol price hasn't changed since September 22, diesel rates have been static from October 2.
The development comes after a recent notification from the Union home ministry, which has permitted companies to resume manufacturing operations and reopening of shops in red, green and orange zones with certain riders.
Reliance Industries has regained the top slot among Indian energy companies on the Platts global list
Beijing will be intently watching Washington's response for any hint of weakness. Xi Jinping, who feels China has a limited window of strategic opportunity, will be emboldened to take additional initiatives in the Indo-Pacific and specifically against India and Taiwan, warns Jayadeva Ranade, the former senior RA&W officer and China expert.
'Unless India ups the ante, Beijing will continue to believe its transgressions are cost free and will feel encouraged to do more of the same.'
