Page 39 - Stock Markets

BoB's new deposit scheme offers 7.1-7.6% interest on short-term deposits

Public sector lender Bank of Baroda on Monday announced a new deposit scheme offering interest payments in the range of 7.1-7.6 per cent per annum. Bank of Baroda in a statement said its special short-term retail deposit scheme offers an interest rate of 7.60 per cent annually for senior citizens and 7.10 per cent for others. The scheme opened on Monday and is applicable on retail deposits below Rs 2 crore. The bank had been offering 6.25 per cent for 271 days bulk deposits earlier. Existing and new customers of the bank can open this bulk deposit scheme, called the BoB360, at any branch, online or through the mobile app. Banks are offering higher interest on deposits as more and more people are investing in mutual funds and stock markets which are offering better returns than bank deposits. The flight of money out of the banking system can lead to asset-liability mismatches in banks' books. This had the Reserve Bank recently warning banks about a likely crisis as when the policy

India 'coolest party in town' for all global investors: Zerodha Co-Founder

Global investors face the risk of losing out if they arrive too late in India, which is the "coolest party in town", discount brokerage Zerodha Co-Founder & CFO, Nikhil Kamath, said on Wednesday. In his address at the Vibrant Gujarat Global Summit here, Kamath said in the last decade, India's entrepreneurship has evolved and the startup ecosystem has prospered under the vision and leadership of Prime Minister Narendra Modi. "... to all the foreign investors here, India is seemingly looking like the coolest party in town. I think what you need to be aware of is if you arrive too late, you might not get in," Kamath remarked. The big change in India in the last decade has been that entrepreneurship has moved from something that was only aspired or watched in movies to everyone "actively trying" for it. "The last ten years have been incredible and I'm not the only exception here in India. There are many other exceptions like me, we all hang out. We call this the startup ecosystem of ..

Sebi puts Manappuram Finance's arm Asirvad Micro Finance IPO on hold

Reacting to the development, shares of Manappuram Finance plunged as much as 7.45% to a low of Rs 163.40 apiece on the BSE on Wednesday

S&P 500 earnings forecast could rise further on strong economy: Goldman

S&P 500 companies' earnings per share are forecast to rise 5% to $237 this year, the team led by chief US equity strategist David Kostin predicted in a weekly research note

UAE market cap soars as top 16 national companies hit AED 2.7 trillion

According to official figures, 16 listed companies accounted for about 74 per cent, or AED 2.709 trillion, of the total market capitalisation of the local stock markets

DoT asks telecom operators to block malicious overseas calls about bourses

The Department of Telecommunications (DoT) has cautioned the public about malicious calls from international numbers spreading false information about Indian stock exchanges, and advised people to report such cases to telecom operators. Such malicious calls are initiated by anti-national elements and are aimed at creating panic, an official release said, adding that the telecom operators have been directed to block malicious calls from such numbers. In a post on X (formerly Twitter), DoT cautioned the public about malicious calls from international numbers spreading false information about Indian stock exchanges. "The recorded message urges to sell Indian stocks before March 12, claiming impending destruction of BSE and NSE," as per a DoT social media alert. Regarding the malicious calls, the release said, "Citizens, on receiving such calls, are advised to report to DoT at help-sancharsaathi@gov.in or their telecom service providers.

Adani Group-Hindenburg row: SC will pronounce judgement on January 3

A bench of Chief Justice of India DY Chandrachud and Justices JB Pardiwala and Manoj Misra reserved its verdict on the order on various aspects related to the Hindenburg report in November 2023

Divine Power Energy to launch IPO by March; eyes Rs 400 cr turnover by 2026

Insulated wires and strips maker Divine Power Energy on Tuesday announced its plan to go public this year and raise funds from capital market to expand capacity as the company aims to increase turnover to Rs 400 crore by 2026. The Ghaziabad-based company intends to expand its production capacity by raising capital through an initial public offering (IPO), which is likely to take place in mid-February or early March of this year, Divine Power Energy Ltd ((DPEL) said in a statement. According to the statement, DPEL aims to achieve Rs 400 crore in revenue by March 2026. The company targets to double the revenue to Rs 300 crore by 2025 from Rs 150 crore in FY23. Rajesh Giri, Managing Director, DPEL, said in the statement, "We aspire to be a market leader in the manufacturing of insulated copper and aluminum wires and strips, setting benchmarks for quality and sustainability." He further stated that raising funds from capital markets will unlock the company's full potential by expanding

Rally in tech stocks in India faces earnings test as growth worries linger

While the rally was initially driven by a global rebound in tech stocks, the Federal Reserve's dovish pivot at the December policy meeting turbocharged the run

Stocks to Watch today, Jan 2: BHEL, Coal India, LIC, Nestle, TVS Motor

Stocks to Watch on Tuesday, January 2, 2024: BHEL has clarified that it has not bagged the order worth Rs 19,400 crore from NLC India Ltd

Markets witness stock-specific action, benchmarks ended with wild swings

Railtel, YES Bank, Vodafone Idea, and BHEL rose 2-6 per cent

Street signs: SAT awaits presiding officer, Nifty showing signs of fatigue

The Securities and Appellate Tribunal (SAT) is waiting for the appointment of a new judicial member as presiding officer

The consensus bullish forecast

Markets and economies are complex, emerging, adaptive systems

Benchmarks slip, but end 2023 with up to 20% gains; SmallCap index up 47%

Closing Bell on December 29, 2023: The BSE Sensex is ending calendar year 2023 with a solid gain of 18.8 per cent, and the Nifty50 with 20.1 per cent

Markets scale fresh peaks on rate cut bets, Sensex jumps 372 points

The Sensex began the session with a new high and rose to 72,484.34, to end at 72,410, a gain of 372 points or 0.5 per cent

Sensex soars 372 pts, Nifty ends near 21,800; Azad Engineering jumps 29%

Closing Bell on December 28, 2023: The S&P BSE Sensex hit record high level of 72,484 and the NSE Nifty50 claimed 21,801 intraday

Indices at record highs! Sensex soars 702 pts, tops 72K; Nifty holds 21,650

Closing Bell on December 27, 2023: Healthy buying in HDFC Bank, Infosys, Bharti Airtel, Ultratech Cement, L&T, Tata Motors, ICICI Bank, SBI, Axis Bank, and M&M lifted the benchmark indices

Managing portfolio: Stay with winners or make bets laggards in 2024

The start of a new year is also a good time to make bets on stocks that have been laggards and could potentially see a turnaround in their fortunes next year

Fundraising through rights issues sprint in 2023, but QIPs maintain lead

Year sees revival in rights issues, with 11 companies raising Rs 7,168 crore, eclipsing previous year's total of Rs 3,884 crore by 10 companies

Pramod Agrawal to take charge as BSE's new Chairman from January 17

The board of BSE had approved the appointment on December 13 while the market regulator granted its approval on Tuesday