Rupee flat, far forward premiums extend decline to 2-1/2-month low
By Jaspreet Kalra MUMBAI (Reuters) - The Indian rupee was largely flat on Wednesday as sustained dollar inflows helped ease the pressure from weakness in most Asian currencies. The rupee was at 82.90 Key Points
ThePrintHP forecasts 2024 profit in line with estimates, boosts annual dividend
HP Inc (HPQ.N) on Tuesday forecast fiscal 2024 earnings largely in line with estimates and raised its annual dividend, reflecting stabilizing demand in the personal computers market. Key Points
Reuters8-10% correction likely in Nifty as well as broader markets: Amit Khurana
Amit Khurana, Head of Equities at Dolat Capital, expects a broader correction of up to double digits on the Nifty. PSU banks have been downgraded due to mean reversion in credit costs. Some pockets of the PSU universe, such as city gas distribution companies, still offer value. Shriram Finance is viewed positively. Key Points
Economic TimesIran targets e-commerce giant over photos of female employees without headscarves in new crackdown
One of the offices of Digikala, Iran's largest e-commerce company, has been shut down by authorities after pictures were posted online showing female employees without headscarves. The move is a result of a campaign to enforce Islamic dress codes, a year after the morality police disbanded due to widespread protests. Digikala, known as Iran's Amazon , has more than 40 million active monthly users and hosts over 300,000 merchants. The website was still operational, though legal action had been launched against it. Key Points
Economic TimesHandicraft exports likely to fall 6-8 pc in FY24: Report
Indian handicraft exports may witness a 6-8 per cent decline this fiscal to USD 3.3 billion, mainly due to a spending slowdown in global markets, a report said on Monday. A slowdown in discretionary spending in key global markets will drag the largely export-oriented Indian handicraft industry by 6-8 per cent lower to USD 3.3 billion this fiscal, after a decline of 20 per cent in FY23, Crisil Ratings said in a report. Key Points
Economic TimesGlobal shares mixed as U.S. tech stocks gain but inflation lingers
By Lawrence Delevingne and Naomi Rovnick (Reuters) -Global shares were mixed and benchmark Treasury yields were steady on Friday as stock indexes rose on data showing U.S. inflation rose largely in Key Points
ThePrintIndian stock indices largely steady Tuesday morning
New Delhi [India], April 25 (ANI): Indian stock indices traded largely steady Tuesday morning after closing high in the previous session. On Monday, the indices traded on a firm note and Sensex rose about 400 points. “Markets started the week positively and gained over half a per cent. After the initial uptick, Nifty traded dull […] Key Points
ThePrintInCred AMC is holding 26% in cash. CEO Mrinal Singh explains why
Mrinal Singh, CEO & CIO of InCred AMC, discusses the challenges of investing in the Indian market due to expensive valuations. He highlights the potential for growth in rural areas, the building material sector, and the auto sector. He also expresses interest in the housing and MSME segments of the financials sector, as well as the healthcare sector. Key Points
Economic TimesMarico Q2 Net profit up 17% to Rs 353 crore
India Business News: Marico, a parachute maker, reported a 17% increase in net profit in the second quarter. Revenue from operations, however, was down 1%. The company not Key Points
Times Of IndiaNifty Financial Services index stocks: Will they lead the correction once again?
For all those, who are surprised the fact that all of sudden bank nifty or finnifty witnessed a sharp fall, it would worth remembering that whether it is upward or southward movement of Nifty and Sensex, it is largely led by financial services because of high ownership of institutional investor’s both domestic and foreign portfolio investors. So if there a sell of due to risk off mode for emerging markets, which market has moved to in last few days. It is financials which are likely to lead to the decline, but, there is equal sharp recovery in them. So, be careful both in buying and selling decision in financial space. Key Points
Economic Times
Valiant Laboratories IPO opens today. Should you subscribe to the issue?
The pharmaceutical API industry in India is ranked third-largest globally in terms of volume. It is expected to clock a CAGR of 5-7% between fiscal 2023 and fiscal 2027, largely driven by the demand from domestic formulation manufacturers as well as export markets. Key Points
Economic TimesUS FOMC verdict today: What Dalal Street should expect; will it sway the bulls?
In its previous guidance, the committee had said that it will take into account the cumulative rate hikes, and the lags with which they impacted economic activities and inflation. While the rate action has been largely factored in by market participants, the forward guidance on rate trajectory is what will matter more to them. Key Points
Economic TimesRated or unrated; stocks from select sectors might be tactical buys due to climatic or trade related issue
Recent climatic conditions in parts of Pakistan and China have led to sudden rise in the price of rice. Will this bring an opportunity for rice exporting companies of India and also the retail investors ? However the agro sector is not very well covered by analysts, not many stocks have a recommendation, probably because they are largely small and mid-cap in nature. Key Points
Economic TimesEstonia becomes first central European country to allow same-sex marriage
In the largely secular Baltic country of 1.3 million, 53% of the population supported same-sex marriage in a 2023 poll by the Centre for Human Rights. | World News Key Points
Hindustan TimesIndian stocks open fresh week in green; Q4 earnings remain in focus
New Delhi [India], April 24 (ANI): Indian stock indices opened Monday’s trade on a firm note after closing largely steady last week. At 9.26 am, benchmark domestic indices Sensex and Nifty traded 0.3 per cent up from their previous closing. Three factors — excellent Q4 results from ICICI Bank, better-than-expected Q4 results from Reliance and […] Key Points
ThePrint
Sensex, Nifty snap 2-day losing streak to end higher amid positive global cues
The Nifty 50 index closed 0.24% higher at 16,985.70, and the S&P BSE Sensex rose 0.22% to 57,653.86. The broader Asian equity indexes were largely subdued. Key Points
India TodayTo cut costs, Twitter shuts offices in Delhi, Mumbai
Amid layoffs and a severe cost-cutting, Twitter has closed offices in Delhi and Mumbai and asked staff to work from home, according to sources. The micro-blogging platform’s Bengaluru office that largely has engineering staff remains operational, the sources said. Key Points
The Tribune India