Fed's Williams pushes back on market expectations of rate cuts
Fri, Dec 15, 2023 9:09 PM

Fed's Williams pushes back on market expectations of rate cuts

New York Federal Reserve President John Williams on Friday pushed back on surging market expectations of interest rate cuts, saying the U.S. central bank is still focused on whether it has monetary policy on the right path to continue bringing inflation back to its 2% target. We aren't really talking about rate cuts right now, Williams said in an interview with CNBC.

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IT officials quiz PB Fintech-owned Paisabazaar over ‘certain vendors’
Fri, Dec 15, 2023 9:08 PM

IT officials quiz PB Fintech-owned Paisabazaar over ‘certain vendors’

Income tax officials have conducted an enquiry about certain vendors of PB Fintech-owned Paisabazaar that stretched for two consecutive days this week, the fintech unicorn said in a filing with exchanges on December 15. “The company has provided the information required by the IT officials and shall continue to provide any further details/information that might be required by the department.

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Mufti Menswear IPO: 10 things to know before subscribing to Rs 549-crore!
Fri, Dec 15, 2023 9:06 PM

Mufti Menswear IPO: 10 things to know before subscribing to Rs 549-crore!

Mufti Menswear parent Credo Brands Marketing Limited's initial public offering (IPO) will open for subscription on December 19. The Rs 549.78-crore public issue is an offer for sale of 1.96 crore shares. The company will launch its anchor book for a day on December 18. Here are 10 key things to know before subscribing to the offer: 1) IPO Dates The IPO will open for subscription on December 19.

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Over 48 lakh tonne wheat sold in open market sales!
Fri, Dec 15, 2023 9:06 PM

Over 48 lakh tonne wheat sold in open market sales!

In as many as 25 e-auctions under the Open Market Sales Scheme (OMSS), while a total amount of 48.12 lakh tonnes of wheat has been sold by the Food Corporation of India (FCI), rice found few takers with only 1.19 lakh tonne of the commodity sold. In order to increase the availability of wheat and rice in the open market to ameliorate inflationary trends in wheat and rice prices.

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Suraj Estate Developers IPO: 10 things to know before subscribing!
Fri, Dec 15, 2023 9:05 PM

Suraj Estate Developers IPO: 10 things to know before subscribing!

Suraj Estate Developers Limited's initial public offering (IPO) will open for subscription on December 18. The Rs 400 crore public issue is entirely a fresh issue of 1.11 crore shares. Here are 10 key things to know before subscribing to the offer: 1) IPO dates The IPO will open for subscription on December 18 and will close on December 20. 2) Price Band The price band for the issue.

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Atomic Energy Regulatory Board nod to First Approach!
Fri, Dec 15, 2023 9:05 PM

Atomic Energy Regulatory Board nod to First Approach!

India’s nuclear regulator AERB has granted permission for the First Approach to Criticality for Unit-4 of the Kakrapar Atomic Power Project (KAPP), which is a significant step before the reactor starts producing electricity. The KAPP-4 is the second 700-MWe home-built Pressurised Heavy Water Reactor (PHWR) technology, which is being deployed across the country to step up the contribution.

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Mazagon Dock signs $42-million contract with European client!
Fri, Dec 15, 2023 9:04 PM

Mazagon Dock signs $42-million contract with European client!

Mazagon Dock Shipbuilders Ltd on December 15 announced that the company has inked a $42-million contract with a European client for three multi-purpose hybrid powered vessels. "This is to inform that Mazagon Dock Shipbuilders Limited (MDL) has signed individual Shipbuilding Contracts with the European client for the construction of three (03) units of 7,500 DWT Multi-Purpose Hybrid Powered.

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Dollar heads for worst week in five months on Fed rate outlook
Fri, Dec 15, 2023 9:03 PM

Dollar heads for worst week in five months on Fed rate outlook

The dollar headed for its biggest weekly drop in five months on Friday as the prospect of rate cuts from the Federal Reserve versus a tough line from central banks in Europe on monetary policy fed weekly gains in the euro and the pound. The Bank of Japan is the last of the major central banks to meet this month and the question among traders and investors.

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Lupin secures US FDA approval for generic allopurinol tablets
Fri, Dec 15, 2023 6:25 PM

Lupin secures US FDA approval for generic allopurinol tablets

Indian pharma major Lupin Limited said it, has received approval from the United States Food and Drug Administration (US FDA) for its Abbreviated New Drug Application (ANDA) for Allopurinol Tablets USP, 100 mg, and 300 mg. The approval allows Lupin to market a generic equivalent to the reference listed drug (RLD), Zyloprim Tablets, 100 mg, and 300 mg, originally developed by Casper Pharma.

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Option traders take risky bets on unusually calm rupee
Fri, Dec 15, 2023 6:25 PM

Option traders take risky bets on unusually calm rupee

Currency traders are taking ever more risk playing the unusually calm Indian rupee, selling options that pay them pennies if it stays where it is but expose them to potentially unlimited losses if it breaks out of its tight range. The cohort are essentially making a bet that the Reserve Bank of India will continue to keep a tight grip on the currency as it seeks to contain volatility.

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Tech View: Nifty RSI hints at overbought zone. What traders should do next?
Fri, Dec 15, 2023 6:24 PM

Tech View: Nifty RSI hints at overbought zone. What traders should do next?

Nifty on Friday ended 274 points higher to new lifetime high highs and formed a green candle on the daily and weekly charts.Further upsides are likely once the immediate resistance of 2,1492 is taken out. Caution is however warranted for the near term as the 14-day RSI at 84.93 is in overbought territory. Thus, any short-term corrections can be utilized to buy into quality stocks.

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India challenges WTO panel ruling in favour of EU on ICT import duties
Fri, Dec 15, 2023 6:04 PM

India challenges WTO panel ruling in favour of EU on ICT import duties

India has appealed against a ruling of the World Trade Organization's (WTO) trade dispute settlement panel in a case filed by the European Union against New Delhi's import duties on nine information and technology products. India's move came after both regions were not able to arrive at a mutually agreeable solution (MAS). "India and the EU have negotiated to arrive at a MAS.

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Stocks with ‘hockey-stick returns’: SRF, Tata Elxsi among top names!
Fri, Dec 15, 2023 5:44 PM

Stocks with ‘hockey-stick returns’: SRF, Tata Elxsi among top names!

SRF, Tata Elxsi, Bajaj Finance, Astral and TVS Motor emerged as stocks that gave the highest hockey-stick returns (HSRs) in the 10 years between 2013 and 2023, according to Motilal Oswal’s annual Wealth Creation Study. HSRs refer to a sharp and sustained rise in stock price that leads to a ‘hockey-stick’ formation on the price chart, translating into good returns for the stockholders.

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Chris Wood seems neither greedy nor fearful when it comes to China
Fri, Dec 15, 2023 5:42 PM

Chris Wood seems neither greedy nor fearful when it comes to China

Christopher Wood is Global Head of Equity Strategy at Jefferies, who publishes a weekly newsletter titled Greed & Fear, seems to be neither greedy when it comes to investing in China, neither fearful about India. Chinese and Indian markets have performed in a drastically different way. While Indian stocks have seen a massive rally with broader market indices rising as much as 55 percent.

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Technical View: Further sharp rally possible only if Nifty surpasses!
Fri, Dec 15, 2023 5:41 PM

Technical View: Further sharp rally possible only if Nifty surpasses!

The Nifty 50 had another gap up opening and ended at fresh record closing high with more than one percent gains on December 15, while for the week, it sustained upward journey for seven consecutive weeks for the first time in last three years. With the heightened enthusiasm and continuation of higher highs, higher lows formation for three weeks in a row along with positive momentum indicators.

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