Clubhouse records over a million Android users in just two weeks
Mon, May 24, 2021 8:18 AM

Clubhouse records over a million Android users in just two weeks

As one million Android users join Clubhouse in just two weeks after the launch, gave a welcome relief to the platform that saw downloads plummet recently. An invite-only audio social network, Clubhouse Android was released primarily in the US on May 9 and the rest of the world, including India, by May 21. Co-founder Paul Davidson said: “We are watching this closely but over a million is crazy."

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Oil prices rise as storm forms in Gulf, Iran deal doubtful
Mon, May 24, 2021 8:04 AM

Oil prices rise as storm forms in Gulf, Iran deal doubtful

Oil prices increased on Monday as a storm formed in the Gulf of Mexico and Iran said a three-month nuclear monitoring deal had expired, emerging doubts about the future of indirect talks that could end U.S. sanctions on Iranian crude exports. Brent crude oil futures for July rose 32 cents, or 0.5%, to $66.76 a barrel by 0143 GMT, while U.S. West Texas Intermediate for July was at $63.93 a barrel.

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📊 Grasim and Ramco Cements are announcing Q4 results today!
Mon, May 24, 2021 8:00 AM

📊 Grasim and Ramco Cements are announcing Q4 results today!

More than thirty companies are expected to announce their quarterly (Q4) results today (May 24, 2021). Some of the important ones include [1] Grasim Industries Ltd, [2] The Ramco Cements Limited, [3] Mahanagar Gas Limited, [4] Balaji Amines, and [5] The India Cements Company. How will the market react today? Let us know in the comments section.

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NCLT ruling on DHFL: Creditors votes for moving NCLAT
Mon, May 24, 2021 7:20 AM

NCLT ruling on DHFL: Creditors votes for moving NCLAT

Stunned by the National Company Law Tribunal ruling (NCLT) on DHFL, the bankers and their legal counsels discussed to consider moving the appellate tribunal to challenge it or exercising their ‘commercial wisdom’ to vote against the proposal of promoter Kapil Wadhawan who is in jail. Several banks and creditors are in favour of moving the National Company Law Appellate Tribunal (NCLAT).

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Steel prices sets new heights despite Covid
Mon, May 24, 2021 7:13 AM

Steel prices sets new heights despite Covid

Domestic steel prices are increasing (HRC at Rs 66,000-67,000/t), despite impacted demand due to local lockdowns across several states in view of the COVID-19 surge. Steel consumption at 6.72mnt in Apr-21 was down 26% m-m (up 516% y-y) due to demand in key segments like auto and consumer durables being hit. Consequently, crude steel production at 7.96mnt (up 142% y-y) was down 21% m-m in April.

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Brokerages increased price targets on SBI
Mon, May 24, 2021 7:05 AM

Brokerages increased price targets on SBI

Brokerages have increased their price targets on State Bank of India after it reported an 80% rise in net profit for the quarter ended March on Friday. The stock ended up 4.3% at Rs 401.10 on Friday. HSBC has planned to buy and raised the target price to Rs 485 from Rs 475 and Haitong Securities has increased target price to Rs 480 from Rs 444 while retaining an outperform rating.

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Govt to seek fresh pricing for 5G spectrum for unsold auctions
Mon, May 24, 2021 6:10 AM

Govt to seek fresh pricing for 5G spectrum for unsold auctions

With 63% spectrum left unsold in the auctions held in March, the government has decided to seek fresh reserve price from the Telecom Regulatory Authority of India (Trai) for the 5G band which is likely to be put up for sale next year. Though the Trai had in 2018 declared the reserve price for 5G spectrum in the 3300-3600 Mhz. The auction couldn't be held in March as pricing was considered too high

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✅ FlipItFact - Hydrogen bomb & Stock Market - Crazy link
Mon, May 24, 2021 2:39 AM

✅ FlipItFact - Hydrogen bomb & Stock Market - Crazy link

In 1954, economist Armen Alchian was able to figure out what the secret fuel was for the newly developed hydrogen bomb just by looking at the share prices of chemical suppliers on the stock market. He successfully identified lithium as the fissile fuel using only publicly available financial data, the paper was seen as a threat to national security and was immediately confiscated and destroyed.

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Rise in animal feed prices; AIPBA urges govt to permit import at zero duty
Sun, May 23, 2021 10:14 PM

Rise in animal feed prices; AIPBA urges govt to permit import at zero duty

Expressing concern over rising in animal feed prices in the domestic market, the All India Poultry Breeders Association (AIPBA) on Sunday urges the government to lessen import duty on soybean meal to zero for at least five months. Soybean meal is the most common protein source for all compound feeds for poultry, dairy cattle, and pigs in the country and worldwide.

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Cement stocks expect a strong bounce back in volumes
Sun, May 23, 2021 10:06 PM

Cement stocks expect a strong bounce back in volumes

Cement headed towards recovery track along with the primary infra provider. Fueled by the awaited rural demand and state expenditure on roads, ports, and other capital-intensive projects that would need concrete in abundant quantities. So, the stellar Q4 show should continue, well into FY22. Volumes in Q4 expanded more than a fourth, and nearly 13% sequentially.

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Small businesses urges relaxations on GST late payments
Sun, May 23, 2021 9:17 PM

Small businesses urges relaxations on GST late payments

After govt offered taxpayers a late fee waiver for filing GSTR-3B monthly returns for March and April and reduced interest rates for late payments, a majority of small businesses, startups, and traders are still seeking no penalty and interest relaxations on GST late payment and return filing till June 30, 2021. Small businesses have been urging to extend deadlines as their businesses are affected

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Suraksha opposed CoC to discuss NBCC offer again
Sun, May 23, 2021 9:04 PM

Suraksha opposed CoC to discuss NBCC offer again

Realty firm Suraksha group on Sunday firmly objected to the creditors' panel of bankrupt Jaypee Infratech to consider new submissions by NBCC and alerted appropriate legal action against lenders as well as the interim resolution professional if voting on the group's offer fails to happen. The Suraksha group has conveyed its objections in a letter addressed to Anuj Jain and COC.

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📈 Nifty-50 stocks with highest growth rate! | FlipItFacts
Sun, May 23, 2021 8:13 PM

📈 Nifty-50 stocks with highest growth rate! | FlipItFacts

Here are the top 10 Nifty-50 stocks (according to their growth rate in the past 365 days, updated on May 21, 2021) : [1] JSW Steel (307.54%), [2] Tata Steel (292.66%), [3] Tata Motors (274.36%), [4] Hindalco Industries (222.10%), [5] IndusInd Bank (183.91%), [6] Wipro (176.97%), [7] Bajaj Finance (175.80%), [8] State Bank of India (163.36%), [9] Grasim (155.19%), and [10] Bajaj Finserv (139.26%).

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MCX natural gas rise 0.56% to Rs 217.60/mmBtu
Sun, May 23, 2021 7:17 PM

MCX natural gas rise 0.56% to Rs 217.60/mmBtu

Natural gas prices increased 0.56% during the week ended May 21 and settled at Rs 217.60 per mmBtu on the MCX. The energy price hiked in two out of five trading sessions on the domestic exchange. It has been trading higher than its 50, 100, and 200 days' moving averages but lower than the 5 and 20 days’ moving average on the daily chart.

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Indian tech companies allied to build open-source OC
Sun, May 23, 2021 7:03 PM

Indian tech companies allied to build open-source OC

A group of small and medium Indian technology companies and a defense PSU allied to manufacture oxygen concentrators based on an open-source design project Marut, started by robotic and automation startup Technido to meet the urgent needs of patients and reduce dependency on imports. According to the companies involved in the project, the oxygen concentrator (OC) with 10 liters/minute flow.

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