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Rupee gains for second day tracking Asian peers; premiums inch up
The Indian rupee rose for a second straight session against the U.S. dollar on Tuesday, mirroring similar moves in Asian peers, as risk appetite in the region rose on fresh bets of the Federal Reserve nearing the end of its rate tightening cycle. Key Points
ReutersReliance Jio continues its hold with 30.4 lakh new subscribers in April; Vodafone losses widens
The private service providers are dominating the telecom space as they held 90.8% market share with Reliance Jio holding a whopping 37.9%, followed by Bharti Airtel at 32.4% Key Points
mintHUL vs ITC: Where did FIIs, MFs & retail investors put their money over last 4 quarters?
Foreign portfolio investors have consistently increased their stakes in India's ITC, making the cigarette-to-hotels firm the best-performing stock in the consumer staples sector with gains of 62% over the past year. Meanwhile, retail investors have been reducing their holdings of the company for three consecutive quarters. Mutual fund activity in ITC has been volatile, with an overall trimming of stakes in Q1. The cumulative holding of retail investors in FMCG bellwether Hindustan Unilever was 10.61% at the end of Q1 compared with 11.20% at the end of Q2 2021. Key Points
Economic TimesBoM logs 30 pc loan growth; total business crosses Rs 4 lakh cr in Q4
. At the end of March 2023, the total business (total advances and total deposits) increased to Rs 4.09 lakh crore as against Rs 3.37 lakh crore at the end of the previous fiscal. Key Points
FinancialexpressThe last Waltz: After 45 days and 47 matches, the cricket carnival has reached its final destination
Dont expect to see Rohit Sharma in another 50- over World Cup four years down the road. It will be a stretch even for the supremely fit and ultimately driven Viral Kohli. R Ashwin won in 2011 and has played one match in 2023 but could end up a two-time winner, but he wont feature in the next World Cup. Key Points
Economic Times
Netweb Technologies IPO opens for subscription. Should you bid?
The company is offering its shares in the price range of Rs 475-500, and at the upper end, the valuation is at a P/E of 55-59x. The IPO will fetch Rs 631 crore at the upper end of the price band. Key Points
Economic TimesWe can consider share buybacks once every few years: R Shankar Raman, CFO, L&T
We have surpluses beyond our requirements, not for all times to come, but at least for some time to come. Given that, we thought that it is a good way to create value back to shareholders. One way to create value for shareholders is to keep distributing dividends. So we decided not to interrupt with that but to go for a buyback. Key Points
Economic TimesWhy Bank of Baroda, Coforge are expected to rise in coming week
Bulls are driving the Indian market. Overall, the trend is expected to remain strong. Read on to know what strategy you should follow for Bank of Baroda and Coforge: Key Points
mintJio adds 30.5 lakh mobile users in March; Voda Idea loses 12 lakh users
A look at March data released by TRAI showed that Vodafone Idea -- which trails Reliance Jio and Bharti Airtel in the mobile market subscriber tally -- lost 12.12 lakh mobile users in March. Key Points
FinancialexpressImproving forex reserve ratios point to lower volatility for rupee
The ratio of volatile capital flows to reserves has declined to 72.7% at the end of December 2022 from 75.5% at the end of September, the Reserve Bank of India (RBI) said on Monday in its half-yearly report on management of foreign exchange reserves. The RBI's reserves were at $562.85 billion as on December 30. Key Points
Economic Times
Sensex falls over 600 points, Nifty tumbles as volatility jump
The S&P BSE Sensex fell by 609.28 points to end at 73,730.16, while the NSE Nifty50 also declined 150.40 points to reach 22,419.95. Key Points
India TodayA Murder at the end of the World: See psychological thriller’s release schedule, storyline, cast, number o
New thriller series, A Murder at the end of the World, premiered on Hulu with the first two episodes on November 14, 2023. The seven-episode series unfolds weekly, concluding on December 19, 2023. Hulu releases episodes at 12:01 a.m. ET. International viewers can catch it on Disney+. Key Points
Economic TimesChina forex reserves fall to $3.115 trillion in September
China's foreign exchange reserves fell more than expected in September, official data showed on Saturday, as the U.S. dollar rose against other major Key Points
Times Of IndiaBig movers on D Street: What should investors do with Sula Vineyards, Eicher and Tata Steel?
Stocks that were in focus include names like Sula Vineyards, which was down 8.12%, Eicher Motors, which fell 2.62%, and Tata Steel, whose shares declined 3.25% on Wednesday. Key Points
Economic TimesSuccession season 4 memes take over Twitter
Succession's final season is about to come to an end. As people anticipate what will happen in the series, some are also sharing memes on it. | Trending Key Points
Hindustan Times
Mankind Pharma IPO: Issue sails through on Day 3, oversubscribed at 2.13x; QIBs, NIIs overbid their portions
Mankind Pharma's IPO was fully subscribed at 2.13 times before the end of the third day of bidding. Key Points
FinancialexpressGet ready for an adventure with Frieren: Beyond Journey's end anime this fall
The official website for Frieren: Beyond Journey's end anime recently revealed a new visual, promotional video, staff, cast, and fall premiere for the series. Keiichirō Saitō, who directed Bocchi the Rock!, will helm the anime at Madhouse. Key Points
Hindustan TimesIs there still scope for banks to raise interest rates for FDs? Lakshmi Iyer explains
So it looks like the case for being on an extended pause seems to get accentuated after the recent inflation numbers, both domestically as well as globally. So, we believe that coupled with the fact that there is a week on week supply and also one cannot wish away the fact that the IIP data though it is a lag indicator, it is slightly on the softer side, means that markets will sooner than later start discounting rate cuts. Key Points
Economic TimesHamas to send delegation to Egypt for Gaza ceasefire talks
Hamas said on Thursday that it was sending a delegation to Egypt for further cease-fire talks, in a new sign of progress in attempts by... Key Points
The Tribune IndiaET analysis: Surging corporate profits to help ease Reserve Bank's inflation fight
Indian companies have lately boosted margins from the 2020 trough, but volumes have consistently trailed the exponential growth in operating profitability. India's corporate profits to gross domestic product (GDP) ratio, which had fallen to below 2.5% toward the end of the last decade on deteriorating bank assets and higher input costs, has since recovered to near 4%. That's still about a quarter below the levels seen before the 2008 global financial crisis. Key Points
Economic Times
Fed flags end of rate hikes, sees lower borrowing costs in 2024
Central bank holds policy rate in 5.25%-5.50% range. Officials see 75 basis points of cuts next year. Fed's 'soft landing' scenario still on the table. Key Points
Economic TimesCiti's 2023 revenue expected to be at lower end of forecast, CFO says
Citigroup's (C.N) full-year revenue is expected to be towards the lower end of its previous forecast, at around $78 billion, Chief Financial Officer Mark Mason said at a conference on Wednesday. Key Points
ReutersEuropean shares gain ahead of key US inflation data
European shares edged higher on Wednesday in the run-up to the release of key U.S. inflation data which will determine whether the Federal Reserve is nearing the end of its monetary policy tightening. Key Points
ReutersBank of Maharashtra clocks 25 per cent loan growth
Total deposits of the bank increased by 24.73 per cent to Rs 2.44 lakh crore as against Rs 1.95 lakh crore at the end of the first quarter of the previous financial year. During the quarter, it said, the Current Account and Savings Account (CASA) ratio stood at 50.97 per cent of the total deposits. Key Points
Economic TimesAustralia stretch overall lead to 374 vs India at lunch on Day 4
Australia had to battle hard to get 78 runs in 26 overs from the morning session with Alex Carey going strong at 41 off 61 balls. Mitchel Starc was unbeaten on 11 at the other end. Key Points
Economic Times
Incomes lag inflation post Covid; low-end demand hit
Latest CPI data showed consumer price inflation that averaged 3.7 percent in FY '19 has scaled 6.7 percent in FY23 driven by a sharp rise in food and beverages inflation which accounts for a big chunk of the average Indians consumption basket. Key Points
Economic TimesMarkets extend losses as banks drag; Sensex erases 2,792 pts, Nifty slips 782 pts in 5 days
In terms of sectoral indices, banking stocks continued to witness a bearish tone. BSE Bankex dipped by nearly 383 points, while Bank Nifty shed nearly 360 points..In the broader markets, smallcap indices outperformed however the upside was capped due to broad-based selling pressure. Key Points
mint23 smallcap stocks offer double-digit weekly gains, surging up to 28% in volatile market week
Going forward, Indian equities are likely to take cues from global trends as investors weigh comments around the Federal Reserve policy and interest rate trajectory. Technically, analysts say the index has given a consolidation breakout on the daily chart, suggesting a rise in optimism. Key Points
Economic TimesSensex, Nifty end higher on consumer stock rally; FMCG leads gains
The S&P BSE Sensex added 102.44 points to end at 80,905.30, while the NSE Nifty50 gained 71.35 points to close at 24,770.20. Key Points
India TodayNew GST era set to start with end of anti-profiteering clause
India Business News: GST Council signals intent for rationalisation with possible reduction in slabs. end of anti-profiteering clause from April. New finance ministers joi Key Points
Times Of IndiaFitch Ratings report highlights concerns as Asia-Pacific corporates face continued deterioration in 4Q23
New Delhi [India], January 26 (ANI): Fitch Ratings has reported a further deterioration in its portfolio of Asia-Pacific (APAC) corporates during the fourth quarter of 2023. As per Fitch Ratings, the cumulative net downgrades have reached a record high of 235 since early 2019, underscoring the ongoing challenges faced by businesses in the region. Show […] Key Points
ThePrintJurgen Klopp to leave Liverpool at end of the season
I have no problem now, obviously, I knew it already for longer that I will have to announce it at one point, but I am absolutely fine now. I know that I cannot do the job again and again and again and again, the star manager said. Key Points
Economic TimesTurkiye charges Israeli soccer player with inciting hatred for showing solidarity with Gaza hostages
Sagiv Jehezkel is detained for questioning after displaying a bandage on his wrist with the words ‘100 Days 7.10’. Turkish authorities, on Monday, charged... Key Points
The Tribune IndiaK-shaped recovery narrative flawed and baseless: SBI Research
The State Bank of India researchers stated that nearly half of India's consumption will be carried out by the lower-income segment, comprising 90% of the population, by the end of the next decade. This prediction highlights the country's progress in bridging the inequality gap and challenges the notion of a flawed K-shaped recovery. According to the researchers, the post-pandemic period witnessed a significant shift in consumption patterns, with an additional Rs 8.2 trillion of consumption now being directed towards the lower end of the economic pyramid. Key Points
Economic TimesTechnical Breakout Stocks: How to trade Alok Industries, Adani Ports and FDC on Thursday
Alok Industries has been a late bloomer, and it has taken almost the entire part of 2023 to bottom out and attempt a push higher, while the majority of stocks are on the other end of the spectrum. The stock has formed a rounding bottom pattern signalling the end of a prolonged downtrend, matured in late December 2023, but the breakout thereof has unfolded unfortunately at the most inopportune time, as the broader market is seen correcting from record peaks. Key Points
Economic Times
At Islamic-Arab summit, leaders call for end to war
Iran hails Hamas, urges nations to put oil curbs on Israel. Saudi Arabia and Muslim countries called on Saturday for an immediate end to military operations in Gaza, declaring at a joint Islamic-Arab summit in Riyadh that Israel bears responsibility for “crimes” against Palestinians. Key Points
The Tribune IndiaGift Nifty down 30 points; here's what changed for markets while you were sleeping
The result season is now coming to an end. Overall the earnings have been in the expected line. In the absence of any major trigger and uncertain global cues, we expect the market to consolidate in the range, said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services. Key Points
Economic TimesNo end to retailers' travails even with end of season sales
Retailers are offering discounts of up to 75% in an attempt to boost sales during end of season sales (EOSS). However, concerns are rising as business levels are still lower than last year. Brands such as Shoppers Stop, Reliance Trends, Lifestyle, Pantaloons, VMART, Max, and Westside have started their sales earlier this year, with a decline in revenue of 5-15% YoY. Key Points
Economic Times