Equity investors became richer by Rs 2.4 lakh crore as key benchmark indices Sensex and Nifty scaled new peaks in morning trade on Tuesday, amid persistent foreign fund inflows. Analysts said foreign institutional investors have reversed their selling strategy and have been consistent buyers during the last seven days. This momentum is a reflection of institutional confidence in the Indian market, they said.
Currently, the investor and his family's net worth in listed firms stands at Rs 8,517 crore, compared to Rs 8,388 crore as of March 31, 2020.
The most consistent wealth creators since 2008 are all consumer-facing companies, says Devangshu Datta.
Jadeja's impressive figures read 2/18 in four overs, including 12 dot balls, which Dhoni believes was instrumental in the changing the course of the game.
Delhi Capitals' bowling unit will have to punch above its weight against an in-form Lucknow Super Giants, who will start as overwhelming favourites in an Indian Premier League match in Lucknow on Friday.
The global billionaires list witnessed as many as 94 new entrants from India, stated a report by Hurun India on Tuesday. Following a net addition of 84, the country's billionaire tally touched 271 with their combined wealth at $1 trillion, noted the report. Mukesh Ambani, chairman & managing director of Reliance Industries, is the only Indian to make it into the top 10 of the Hurun Global Rich List 2024, a ranking of billionaires in US dollar terms.
Samson's innings was complimented with fine strokeplay as well as quick running that brought him another IPL half-century and put RR in victory's path.
For these dedicated folk, cosplay is more than just masks and costumes. Months of effort -- they often create their costumes from scratch -- go into making their outfits. Some even invest thousands of rupees to perfect their look.
Delay in demand recovery and higher stock valuations mean low safety margin, say analysts.
The domestic benchmark indices - the S&P BSE Sensex and the National Stock Exchange Nifty50 - had lost close to 1.5 per cent in three days recently before gaining slightly. Notwithstanding weakness and volatility, the Nifty50 has managed to hold on to the 18,000 mark, while the Sensex has managed to stay above the 61,000 level. The performance of the stocks that comprise these front-line indices remains polarised.
Totally 13 global brands were surveyed by NGO on whether they ensured human right protection while sourcing when gold and diamonds
'Indians are basically liked because they are educated, they are intelligent.'
Among the Sensex shares, Infosys rose the most by 1.37 per cent, followed by Larsen & Toubro (0.90 per cent), and Wipro (0.83 per cent). HDFC Bank, ICICI Bank, Reliance Industries, ITC, TCS, Kotak Bank, Asian Paints and Titan were among the lead gainers.
A delayed monsoon and soaring temperatures across the country are added near-term positives.
Gill's heroics showcased his versatility as a batsman, as he effortlessly handled both spin and pace bowling.
The one common theme across companies that have rewarded shareholders is consumption.
Playing IPL 2023's last league stage match, Royal Challengers Bangalore would know what exactly is required of them to qualify for the play-offs, when they face table-toppers Gujarat Titans in Bengaluru on Sunday.
Batters are mauling bowlers this IPL like never before, as the impact player rule effectively gives every team 12 players. Where is it taking the game?
Tata Sons, India's biggest promoter in the private sector, is expected to earn a record Rs 27,797 crore via equity dividend and proceeds through share buyback from its listed group companies for the financial year 2021-22. This amount is up 17.6 per cent from Rs 23,663 crore that it pocketed in FY21. Nearly two-thirds of these proceeds will show up in Tata Sons' financial results for FY22, thanks to the quarterly interim dividend by its cash cow Tata Consultancy Services (TCS).
Internet search titan Google and electronics giant Sony are among "the world's most reputed companies", as customers have placed a lot of faith and trust in these firms, says a study.
After a turnaround in performance by Indian equity markets since July that has seen the S&P BSE Sensex and the Nifty50 wipe out the year-to-date losses, analysts suggest investors start nibbling into stocks that are focused on the domestic economy. While they say intermittent corrections, led by policies of global central banks and other economic data, cannot be ruled out, analysts expect India's relative outperformance among global equity markets to continue as it looks better placed with a healthy economic recovery, and remains one of the fastest growing major economies. In this backdrop, Neeraj Chadawar, head of quantitative equity strategy at Axis Securities, believes that amid global slowdown, aggressive tightening by the central banks, and preference for domestic interests first (by the local government), export-oriented themes are likely to be muted or will deliver conservative returns in the near-term.
Employees asked to work from home... cancelled travel plans... curtailed meetings... Caution and precaution dominate Corporate India's response to Covid-19.
Corporate India is busy restructuring - through mergers, demergers and splits. That seems to be the new normal as CXOs and boards brainstorm on how to create assets and value. The pitch rose significantly during the third quarter of this financial year (FY24), translating into $32.9-billion worth of such deals - the highest quarterly total since the HDFC Bank-HDFC merger announced in FY22 Q2.
Bajaj Finserv, ICICI Bank, Nestle, UltraTech Cement, Bajaj Finance, Maruti, Tata Consultancy Services, IndusInd Bank and State Bank of India were the major laggards. Infosys, JSW Steel, NTPC and Power Grid were the gainers.
Nestle India was the top loser in the Sensex pack, shedding 2.20 per cent, on its first day as part of the index.
Mergers and acquisitions (M&As) in India are expected to stay buoyant, seen over the last three-four years, despite a slowdown in the first seven months of the calendar year. "M&A is a lumpy business activity, and we may suddenly see large deals taking place during the next two quarters of the calendar year. "This would help maintain the streak of strong M&A activity.
Benchmark Sensex and Nifty closed at new lifetime high levels on Monday on foreign fund inflows and buying in index majors HDFC Bank and Reliance Industries. The 30-share BSE Sensex jumped 529.03 points or 0.80 per cent to settle at its new all-time closing high of 66,589.93. During the day, it climbed 595.31 points or 0.90 per cent to hit its lifetime intra-day peak of 66,656.20. The NSE Nifty went up by 146.95 points or 0.75 per cent to end at a new record high of 19,711.45.
Mark Zuckerberg's pledge on Tuesday to give away most of his Facebook shares, a roughly $45 billion fortune, helps cement his role as one of Silicon Valley's most generous donors.
Domestic macroeconomic data announcements, global trends, quarterly earnings and foreign fund trading activity would dictate terms in the equity markets this week, analysts said. Besides, movement of rupee against the US dollar and global oil benchmark Brent crude price would also guide the trading pattern in the equity markets. "From a macroeconomic perspective, market participants will be closely observing key events like the upcoming release of the US manufacturing PMI data, US services PMI data and US non-farm payrolls scheduled between August 1 and August 4.
Companies think they are too big to bow before regulators.
Given the 2024 general elections, it is unlikely that the allegations around electoral bonds, raised by the Opposition, will disappear easily or with a shrug of the BJP's shoulders and fabled 56-inch chest, argues Shyam G Menon.
Shares of gold loan companies like Manappuram Finance and jewellery makers on Monday fell sharply by up to over 13 per cent, following weakness in gold prices which hit over 15-month low.
Jewellers initially feared the ban applied on them, too. However, after discontinuing their monthly schemes for almost two weeks, they've started accepting deposits again.
'Advertising this season will help IPL surpass $550 million in ad revenues, across digital and pay TV.' 'It should still represent a steep loss against annualised 2023-2027 IPL rights fees of $1.2 billion.'
Rediff readers tell us what their first salaries meant to them.
Tata Motors was the biggest loser in the Sensex pack, skidding 1.77 per cent, followed by SBI, Power Grid, Tata Steel, Infosys, UltraTech Cement, Titan, Larsen & Toubro, Reliance Industries and Maruti. On the other hand, IndusInd Bank, Bharti Airtel, Asian Paints, NTPC, HCL Technologies, HDFC and Sun Pharma were the gainers.
Investor Rakesh Jhunjhunwala and his family's net worth in listed companies surges in the recent bull run.
