Exide Industries invested over Rs 200 crore in the last two months to its wholly-owned subsidiary Exide Energy Solutions Limited (EESL). The company allotted 3.2 crore shares of Rs 10 each with a premium of Rs 21 per share for EIL on a rights basis. EESL is engaged in the manufacturing and selling of lithium-ion battery cells, modules and packs for electric vehicles and stationary applications.
Open FlipIndia offers a great opportunity for investors due to quality of its listed companies, economic growth, introduction of new sectors and various reforms that have enabled businesses to grow. However, its weightage in MSCI indices is only around 1.66% & 15.7%, respectively, as the calculation is based on free-float factor rather than opportunities available.
Open FlipHappiest Minds Technologies Limited announced the formation of Product and Digital Engineering Services, a combined business unit merging their Product Engineering Services and Digital Business Services. They hope to use digital technologies and engineering expertise to expedite customer digital transformation and provide greater value.
Open FlipThe Indian rupee opened marginally higher against the US dollar and is expected to remain stable as the RBI looks to handle a $5 billion short position that is due soon. Meanwhile, Asian currencies are mixed due to the Gaza explosion and US President Biden's visit disruptions. While the dollar index fell slightly, China Offshore spot gained 0.23%, South Korean won rose 0.22%.
Open Flip📈 Amid mixed global cues, benchmark indices started on a flat note today. 📊 At 9:16 AM, the Sensex lost 96.43 points or 0.15% at 66,331.66 and the Nifty was down 19.90 points or 0.10% at 19,791.60. 📢ZEEL (⬆️1.31%), Coforge (⬆️1.26%) and Info Edge (⬆️1.25%) appeared as the top performers on the Nifty50 at open. Wipro, Bajaj Finance, HUDCO stocks are in focus today.
Open FlipAgri picks in Rajasthan for Rabi season have shown year-on-year declines, with mustard sowings down 22.2% and gram sowings down 61.3%. Oilseed acreages are at 362,207 ha, below the target of 4.36 mln ha, while rabi pulses are up 92%. Exports of oilseeds have risen, while exports of cashew, fruits and vegetables have fallen.
Open FlipAI has become the talk of the town - from venture capitalists to governments, everyone wants to be the early adopters. Governments are finding it hard to regulate something which is changing everyday but understand the potential that AI holds and the opportunities it could create in the long-term.
Open FlipSony Corp's India unit and ZEE expect to close the pending merger deal, billed as one of the biggest in media industry, by early Nov. BCG is working overtime to complete the integration process & legal/regulatory formalities are near completion. The aim is to finish the merger by Nov, & Zee stock climbed 40% since late June in anticipation.
Open FlipGDP grew steadily in the third quarter, increasing 1.3% from the second quarter and exceeding forecasts of 1%. This is good news for the economy, suggesting that consumer spending and other economic fundamentals remain strong.
Open FlipEquity markets in India are set to open gap-down on October 18 as the GIFT Nifty suggests a loss of 14 points at the opening bell. US markets closed flat, while Asian shares stutter due to tensions in the Middle East. Wipro, Bajaj Finance, and oil prices are expected to have an impact on markets today. US retail sales data offered strong evidence of economic recovery.
Open FlipFears of an escalating Middle East conflict hovered over markets Wednesday, with high oil prices and a surge in U.S. bond yields driven by strong retail sales data adding to the sense of unease. The MSCI broadest Asia-Pacific stocks fell, along with S&P 500 and Nasdaq futures, weighed by chipmaker Nvidia, while gold rose as a safe-haven.
Open FlipEquity benchmark indices bounced back on Tuesday after three days of fall amid global market recovery. HCL Tech, Delta Corp, and Trident were in focus. Analyst Amol Athawale suggested investors buy HCL Tech, Delta Corp, and sell Trident. Positional traders should look for buying opportunities above 1247 for HCL Tech and 627 for DeltaCorp. With Trident, investors should watch the 50 day SMA.
Open FlipU.S. markets ended with mixed results on Tuesday as Treasury yields rose, chipmakers fell due to the Biden administration halting AI chip shipments to China, and upbeat earnings reports from companies like BofA providing some support. Overall, investors remain anxious about recent news in the Middle East and S&P 500 earnings for the quarter, which analysts expect to increase by 2.2%.
Open FlipOil prices surged on Wednesday after data showed a greater than expected draw in US crude stocks and intensifying worries over supply disruptions from the Middle East due to an escalating Israel-Hamas conflict. Markets were also awaiting Chinese GDP numbers, while optimism was fueled by positive US retail sales and Venezuela's 2024 presidential election agreement.
Open FlipIndia's top telecom operators are appealing a Supreme Court ruling that requires license fees be treated as capital expenditure. Additionally, Indian subsidiaries of MNCs have been asked to pay GST on salaries and Chinese solar panel makers face scrutiny for tax evasion. Adani Ports is trying to develop Sabang Port in Indonesia, Sony India & Zee Entertainment hope to merge.
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