Latest News and Updates

28th Jun, 2022

Welspun Corp appoints Arun Todarwal as Lead Independent Director; stock soars ~1.5%

Published on: 3:32 pm

  • Welspun Corp Limited informed that in its meeting held on June 27, 2022, it has appointed Arun Todarwal as the Lead Independent Director, Chairman of the Audit Committee, Nomination and Remuneration Committee, Share Transfer and Stakeholders’ Relationship Committee, member of Risk Management Committee, ESG and CSR Committee. His appointment shall be effective from July 1, 2022.
  • Arun will take charge of the office of K.H. Viswanathan who has resigned effective from July 1, 2022.
  • This is in response to a regular Board evaluation, in which the Board members felt the need to strengthen Board capabilities in terms of in-depth business and commercial understanding of the strengthening B2C business control-related capabilities, supply chain, and global operations, stated company in a regulatory filing. Read more

Liquor-giant Allied Blenders and Distillers files DRHP for Rs 2000 crore IPO

Published on: 3:31 pm

  • Indian spirits manufacturer Allied Blenders and Distillers has filed its Draft Red Herring Prospectus (DRHP) with the markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO).
  • The largest Indian-owned Indian-made foreign liquor (“IMFL”) company and the third largest IMFL company in India has planned  to raise Rs2,000 crore via IPO. Moreover, the issue with a face value of Rs 2 per equity share consists of a fresh issue of equity shares worth up to Rs1000 crore and an offer-for-sale (OFS) of Rs1000 crore by Promoter and selling shareholders i.e. Bina Kishore Chhabria up to Rs500 crore, up to Rs250 crore by Resham Chhabria and Jeetendra Hemdev and up to Rs250 crore by Neesha Kishore Chhabria.
  • The offer also includes a reservation for subscription by eligible employees. Read more

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Global Express appoints Infosys to manage technology separation from Toll Holdings

Published on: 3:20 pm

  • Infosys, a global leader in next-generation digital services and consulting, has announced that it has been selected by Australian express logistics business, Global Express, to separate the technology landscape following divestment from Toll Holdings Ltd.
  • Building on its strategic collaboration with Global Express to drive hybrid cloud-powered innovation, Infosys will leverage the established blueprints and tools from Infosys Cobalt, a set of services, solutions and platforms for enterprises to accelerate their cloud journey, As part of this collaboration, Infosys will also help set up a greenfield technology environment, and migrate Global Express’ applications and services to a world-leading sustainable and energy-efficient data centre and public cloud on AWS. Read more

Hindustan Aeronautics declares final dividend Rs10 for FY22; stock trades flat

Published on: 3:17 pm

  • Hindustan Aeronautics Limited has informed that the Board of Directors in its meeting held today, recommended a final dividend of Rs10 per equity share (100%) of Rs10 each fully paid up for the financial year 2021-22.
  • The dividend recommended is subject to the approval of members of the company at the ensuing Annual General Meeting, which shall be paid to the shareholders within 30 days of declaration. Read more

Bank of Baroda to issue long-term infrastructure bonds to generate Rs 5,000 crore

Published on: 3:00 pm

  • Bank of Baroda, a public sector lender, said on Monday that it will issue long-term infrastructure bonds to generate Rs 5,000 crore.
  • With its headquarters in Vadodara, the Bank of Baroda is a nationalized banking and financial services corporation in India. With 132 million clients, a US$218 billion annual revenue, and 100 abroad operations, it is the third-largest nationalized bank in India. Read More

Ind-Ra reaffirms the credit rating of BHEL’s bank facilities worth Rs68,000 crore; stock gains ~1%

Published on: 2:58 pm

  • Bharat Heavy Electricals Limited (BHEL) has informed that India Ratings & Research has reviewed and reaffirmed the ratings of company’s bank facilities.
  • The rating agency has reaffirmed the long-term rating of fund-based working capital limits worth Rs6,000 crore to ‘IND AA’. It has given a Negative outlook for the same.
  • Ind-Ra has reaffirmed the rating of non-fund-based working capital limit worth Rs54,000 crore at ‘IND A1+’. Read more

Sakthi Sugars executes agreement to sell sugar and distillery in Odisha for Rs134 crore

Published on: 2:27 pm

  • Sakthi Sugars Ltd has executed a Business Transfer Agreement (BTA) for sale of Sugar and Distillery Units in Dhenkanal, Orissa State to Indian Potash Limited, Seethakathi Business Centre, Chennai (Purchaser) on a going concern on an 'AS IS WHERE IS WHAT IS' basis by way of a slump sale and specifically include the Assets, Liabilities and the Agreed Liabilities, except contingent Assets and contingent Liabilities, for a consideration of Rs134.10 crores.
  • As per the filing, the Purchaser will participate in the management and operations of the Dhenkanal Units immediately on the execution of the BTA. Read more

Paras Defence signs LoI to receive technology of Optical Imaging System developed by ISRO

Published on: 2:16 pm

  • Paras Defence and Space Technologies Limited informed that New Space India Limited (NSIL), a Central Public Sector Enterprise under the administrative control of the Department of Space (DOS), Government of India, has executed a Letter of Intent (LOI) dated June 27, 2022, with Paras Defence and Space Technologies Limited for the transfer of "Optical Imaging System" technology developed by Indian Space Research Organization (ISRO).
  • This technology will be transferred via a Technology Transfer Agreement for the development, manufacturing, and sale of Optical Imaging Systems in India and elsewhere. Read more

Shreeji Translogistics honored with ‘Company of the year – South’ Award

Published on: 1:43 pm

  • Shreeji Translogistics Limited, a diversified end-to-end logistics service provider that has grown to become India's largest integrated national logistical solution provider, was recently honoured with the "Company of the Year - South" Award at the "TV9 Leaders of Road Transport Awards 2022."
  • "Throughout its development, Shreeji has continuously adopted and utilized advanced technologies to improve productivity and meet challenges with ease. Our extensive experience in land transportation, warehousing, supply chain management, and door-to-door parcel delivery has distinguished us from our competitors.
  • These attributes give us a significant competitive advantage in providing 'Best-In-Class' integrated supply chain solutions with seamless and transparent operations,” commented Chief Executive Officer of Shreeji Translogistics Limited, Harshal Shah. Read More

Mauritius Telecom partners with Intellect Global Consumer Banking for Digital Transformation and ena

Published on: 1:28 pm

  • Intellect Design Arena Ltd-led Intellect Global Consumer Banking (iGCB), ranked #1 in the world for Retail Banking and Lending by IBS Intelligence has announced that Mauritius Telecom, one of the leading telecommunications companies in Mauritius, has chosen iGCB to offer digital financial services, deliver personalised and contextually relevant customer experiences and drive financial inclusion.
  • A leading provider of ICT services and solutions in Mauritius with a customer base of more than 1.3 million subscribers, Mauritius Telecom has been at the forefront of innovation and continues to be one of the key drivers of socio-economic transformation of the country. In 2019, the company launched a mobile wallet, called My.t Money that facilitated cashless payments and management of money through a mobile app and a payment card. Read More

Government seeks complete exit from public sector banks

Published on: 1:21 pm

  • In a report, the Center reportedly plans to introduce a bill to allow the privatization of public sector banks during the upcoming Monsoon Session of Parliament. According to a government official informed of the events, The Economic Times said that the government is considering amending the law to let the Centre completely withdraw from banks and entirely privatize PSBs.
  • The Banking Companies (Acquisition and Transfer of Undertakings) Act of 1970 mandates that the federal government maintain a minimum 51 percent ownership holding in public sector banks. Prior to privatization, the Centre was supposed to keep at least a 26% share in PSBs, and this would be gradually reduced. Read more

Moody’s revises JSW Steel’s Corporate Family rating to ‘Ba1/Stable’; stock adds ~1%

Published on: 12:57 pm

  • JSW Steel Limited informed that Moody’s Investors Service vide their release dated June 27, 2022, has upgraded the Company’s Corporate Family Rating (CFR) to Ba1 (Stable) from Ba2 (Positive).
  • Further, the rating agency has also revised the outlook and rating of Senior Unsecured Notes Rating on Periama Holdings LLC, and the US$40 million guaranteed senior unsecured revenue bonds issued by Jefferson County Port Authority from Ba2 to Ba1.
  • At the same time, Moody's has upgraded the rating outlook on JSW Steel Limited and Periama Holdings LLC to stable from positive. Read More

The rupee falls to historic lows as crude oil prices rise globally

Published on: 12:41 pm

  • A spike in global crude prices and a decline in local equities caused investors to sell the local currency on Tuesday, according to dealers, who added that it was doubtful that the Indian rupee would see significant losses during the day.
  • The energy minister of the United Arab Emirates stated that the country was producing close to its full capacity, defying hopes that it might assist raise supply in a tight market. As a result, oil prices increased by nearly 1% in early Asian trading. Read more

India may gain from advanced economies' recession in terms of decline in commodity prices

Published on: 12:33 pm

  • All markets are experiencing global recession fears, but many believe that recessions in industrialized nations might be good for the Indian economy.
  • Samiran Chakraborty, managing director and top economist for India at Citigroup, stated in an interview with Bloomberg Television on Monday that "India being a net importer of commodities should gain on the inflation front." A global downturn, he continued, would nonetheless put pressure on India since it would restrict exports and economic expansion. Read more

Mahindra launches Scorpio-N in India starting at Rs11.99 lakh; Stock hits 52-week high

Published on: 12:25 pm

  • Mahindra & Mahindra Ltd., pioneers of the SUV segment in India, has launched its much-awaited SUV - the All-New 'Scorpio-N' - starting at Rs11.99 lakh.
  • Poised to take forward the 'game-changer' legacy of the Scorpio brand, the All-New Scorpio-N is designed, engineered and built to disrupt the SUV segment with its class-leading attributes, features and capabilities, to be acknowledged as the #BigDaddyOfSUVs.
  • According to the press release, the All-New Scorpio-N is completely new ground-up, with no carryover components of the existing Scorpio. This allows the All-New Scorpio-N to elevate existing segment benchmarks across all critical parameters: performance, capabilities, technology, sophistication, ride and handling, NVH, interiors and appearance. Designed at Pininfarina, Italy and Mahindra India Design Studio (MIDS), Mumbai and engineered by the teams at Mahindra Research Valley (MRV) near Chennai and Mahindra North American Technical Center (MNATC) in USA, and manufactured at the state-of-the-art world-class facility at Chakan, Pune, the All-New Scorpio-N is truly a global product. Read More

Sterling Tools' step-down subsidiary forays into E-LCV Business; stock climbs ~2%

Published on: 11:53 am

  • Sterling Tools Limited today announced that its 100% subsidiary Sterling Gtake E-mobility (SGEM) forayed into the E-LCV segment.
  • With this development, SGEM expands its presence in various E-mobility segments. Beginning with a single Electric 2W customer a year ago, the company now has confirmed orders from over ten customers.
  • "This 'win' will assist SGEM in diversifying its customer base across various vehicle segments and broadening the technical expertise of the SGEM team across various applications," Anil Aggarwal, MD of Sterling Group, commented. Read more

Gillanders Arbuthnot and Company announces sale of land for Rs11 crore; Stock rises

Published on: 11:36 am

  • Gillanders Arbuthnot and Company Limited has executed and registered a Deed of sale on June 27, 2022, effecting the sale of the Company's land situated at Janakipuram Village, Maduranthakam Taluk, Chengalpattu District, situated within the Registration Sub District of Maduranthakam and Registration District of Chengalpattu, for a consideration of Rs11 crore.
  • As per the filing, the buyer is a third-party buyer who does not belong to the Promoter / Promoter Group / Group Companies and the transaction does not fall under the ambit of Related Party Transactions, the company said. Read more

Top 10 stocks to watch out for today

Published on: 11:35 am

  • Here is the list of top 10 stocks that can see  significant movement today.
  • 1. Cantabil Retail - The company has opened its 400th store.
  • 2. Indian Card Clothing - The company has declared special interim dividend of Rs 25 per share.
  • 3. Cipla - The Company has decided to invest another Rs. 26 crore in GoApptive to raise its stake further to 22%. Read more

GRP Limited disposes off 50% stake in JV Marangoni GRP; stock jumps ~1%

Published on: 11:19 am

  • GRP Limited has informed that the company has disposed off its 50% holding in equity shares of its Joint Venture company Marangoni GRP Private Limited (MGPL).
  • The company has sold off such a stake in the company for a consideration of Euro 7,10,000 (approx. Rs5.91 crore).
  • The buyer is Leader Rubber Proprietary Limited and does not belong to any of the promoter/promoter group companies. Read more

Ind Ra affirms credit rating of JK Tyre subsidiary Cavendish Industries; Stock trades flat

Published on: 11:16 am

  • India Ratings and Research Pvt. Ltd. (Ind-Ra) has affirmed the Long-Term Issuer Rating at ‘IND A-’ and revised the outlook to Negative from Stable of Cavendish Industries Limited (CIL), a subsidiary of JK Tyre & Industries Limited’s (JKTIL)
  • Long term loans ratings affirmed at IND A- whereoutlook revised to negative from stable. Also, short term rating has  been affirmed at IND A2+.
  • As per  the rating rationale report, Ind-Ra continues to take a consolidated view of JKTIL and its subsidiaries to arrive at the ratings, due to the strong operational and strategic linkages among them, driven by similar business profiles, and a common treasury and management team. Read more

Indian Card Clothing spurts ~5% on acquisition of further 40% stake in Garnett Wire

Published on: 11:00 am

  • Indian Card Clothing Company Limited informed that the board of directors of the company has considered and approved the proposal of acquiring the balance 40% stake in Garnett Wire Ltd., UK – a foreign subsidiary of the Company, from its Joint Venture Partner – Joseph Sellers & Son Limited.
  • Garnett Wire Limited, UK is a foreign subsidiary of the company in which the company has retained a 60% stake since 1997. It manufactures metallic card clothing and provides quality carding solutions to the global textile industry.
  • Given Garnett Wire's presence in the UK and neighbouring regions, the goal of the acquisition is to expand business for the Company's products abroad. Read More

Glenmark Pharma acquires Abbreviated New Drug Applications from Wockhardt

Published on: 10:32 am

  • Glenmark Pharmaceuticals Ltd, an innovation-driven, global pharmaceutical company on Tuesday has announced that its fully owned subsidiary Glenmark Pharmaceuticals Inc., USA (Glenmark) has acquired the approved Abbreviated New Drug Applications (ANDAs) for Famotidine Tablets USP, 10 mg and 20 mg (OTC), Cetirizine Hydrochloride Tablets USP, 5 mg and 10 mg (OTC), Lansoprazole Delayed-Release Capsules USP, 15 mg (OTC) and Olopatadine Hydrochloride Ophthalmic Solution USP, 0.1% (OTC) in the United States from Wockhardt Limited.
  • Sanjeev Krishan, President of Glenmark Pharmaceuticals Inc., USA, commented “The over-the-counter market has long been an important segment of Glenmark’s portfolio around the world. Read More

Star Health announces Bancassurance tie-up with IDFC First Bank; stock adds ~1%

Published on: 10:06 am

  • Star Health & Allied Insurance have signed a Corporate Agency agreement with IDFC First Bank for the distribution of its health insurance solutions.
  • Star Health and Allied Insurance will offer its best-in-class health insurance products to the Bank's customers through IDFC FIRST Bank's cutting-edge digital platform and extensive distribution network under this strategic agreement.
  • "We, at Star Health, believe that health insurance is essential for every citizen," commented Anand Roy, Managing Director of Star Health and Allied Insurance Co. Ltd. Read More

What can you expect from the upcoming EPFO board meet?

Published on: 10:04 am

  • On July 8, the Employees Provident Fund Organization's (EPFO) central board will meet. At this time, it is possible that the board will agree to create a separate pension plan specifically for gig workers and discuss the possibility of creating a universal pension plan to cover everyone who is not currently covered by the retirement fund.
  • It is being decided how to proceed with the recommendations of a committee on pension changes, and in a recent meeting, members of the central board of trustees (CBT) expressed a variety of opinions. A comprehensive note is likely to be brought to the central board, according to at least two officials with knowledge of the situation. Since March, numerous discussions have already taken place, some of which involve industry specialists. Read More

Bank of Baroda approves fund raising of Rs5000 crore; Stock marginally up

Published on: 9:58 am

  • The Board of Directors of Bank of Baroda in their meeting held on June 27, 2022 has approved the proposal of Raising of Long term Bonds for financing of Infrastructure & Affordable Housing to the tune of Rs5000 crore in single or multiple tranches during Financial Year 2022-23.
  • According to the regulatory filing, these bonds shall be senior, unsecured and will not form part of capital of the Bank.
  • At around 10:01 AM, Bank of Baroda was trading at Rs100.65 per share up by Rs0.7 or 0.7% from its previous closing of Rs99.95 per share on the BSE. Read more

Government auction for commercial mining draws 38 bids

Published on: 9:57 am

  • On Monday (27-06-2022), the coal ministry said that it had received a total of 38 bids from the three rounds of auctions for commercial coal mines. The coal ministry announced in a statement that the online bids submitted as part of the auction process would be opened on Tuesday at 10 AM and in the presence of interested potential bidders.
  • It said that offline submissions were due at 1600 hours on June 27, 2022, while online submissions for all coal mines had a deadline of 1200 hours on the same day. The fifth tranche of the commercial mines' auction got a total of 28 offline offers for 15 coal mines, according to the coal ministry's announcement. Read More

Modi government plans to track the status of Budget announcements

Published on: 9:49 am

  • According to information obtained by News18, PM Narendra Modi's administration has launched a significant pan-government initiative to determine the precise state of each budget announcement's execution over the course of the last few fiscal years in order to properly monitor their development.
  • The Department of Economic Affairs (DEA), which is part of the Ministry of Finance, stated in a letter sent to all ministries earlier this month that while budget announcements should be implemented within the same fiscal year, it has been noted that some of them take longer, necessitating closer monitoring. Read more

In early trade, Gold price is on a rise

Published on: 9:44 am

  • On Tuesday (28-06-2022), the price of gold increased, with 10 grams of 24 karat gold trading at Rs 51,980 and 10 grams of 22 karat gold at Rs 47,650. Tuesday saw a little increase in silver prices as well; one kilogram of the metal now costs Rs 60,300.
  • Meanwhile, in the US, gold prices decreased slightly on Monday as rising rates put pressure on the metal, while investors kept an eye on the European Central Bank's meeting in Portugal for any hints about potential policy changes. Read More

Brigade Enterprises to develop 2.1 million sq. ft. Residential Apartments in Chennai; stock spurts ~

Published on: 9:40 am

  • Brigade Group has signed a Joint Development Agreement in Chennai to develop approximately 2.1 million square feet. The 15-acre plot of land in Perumbakkam, just off the OMR Sholinganallur junction, will be developed as a large residential township. Perumbakkam is one of Chennai's fastest-growing residential areas, with recent infrastructure development.
  • "South India will remain a priority for us, and this project is part of our strategy to increase our presence in Chennai. In about 5 years, the project will generate more than Rs1,500 crore in revenue. We anticipate a positive response from customers, particularly those in the IT and ITeS sectors, given its location in the heart of the IT Office Belt." Brigade Enterprises Ltd. Executive Director and Head of Residential Business, Pavitra Shankar, stated. Read more

Markets trade lower amid weak cues; IT, Consumer Durables worst hit

Published on: 9:33 am

  • Indian markets traded in red on Tuesday tracking weak global cues as investors are cautious that global cues will continue to dictate the Indian market trend. Moreover, domestic factors like the upcoming GST council meet will also be in focus. IT and Consumer Durable stocks weighed down the most on the benchmarks back at home. 
  • At around 9:35 AM, Sensex was trading at 52,861.12 down by 300.16 points or 0.56%. Nifty 50 was performing at 15,742.75 lower by 89.30 points or 0.56%.
  • Gainers on NSE were - ONGC surging by 1.7%, while JSW Steel, M&M, NTPC and Dr Reddy's jumped between 0.5-0.8%. Read more

The gig economy may provide 2.35 crore jobs by FY30: NITI Aayog

Published on: 9:31 am

  • According to research by the government think tank NITI Aayog, India's gig economy might employ 2.35 crore people by FY30, a three-and-a-half-time growth over the previous ten years.
  • As per India's Booming Gig and Platform Economy: Perspectives and Recommendations on the Future of Work research, the gig economy employed almost 68 lakh people in FY20.
  • In FY20, there are expected to be 51.10 crore employed people in India. By FY30, the number is predicted to increase to 56.96 crores. Gig jobs, which are typically transitory and part-time, include everything from delivering food to driving for ride-hailing services like Ola and Uber.Read More

Cantabil Retail India marks opening of 400 stores; stock marginally up

Published on: 9:22 am

  • Cantabil Retail India Limited, which was founded in 1989 and is in the business of designing, manufacturing, branding, and retailing apparel and accessories, has informed the exchange that it has reached the 400-store milestone today with the opening of a new store in Hajratganj, Lucknow.
  • "I am pleased to report that we have met our goal of opening 400 stores across the country. This is consistent with the company's stated strategy of business expansion and growth. We intend to stay on the same strategic path, which will result in greater penetration and presence in new locations across India.
  • All of this has been made possible by the help of our employees, store employees, and most importantly, our customers, who have boosted our morale throughout this journey. My heartfelt thanks to everyone," commented Vijay Bansal (Chairman & Managing Director) of Cantabil Retail India Limited. Read more

State-owned NBFCs permitted to issue LOCs

Published on: 9:21 am

  • Finance Ministry has modified its earlier directive to allow state-owned NBFCs to issue "Letters of Comfort" (LOCs) to banks for the purpose of securing funding for infrastructure projects.
  • A letter of comfort is a guarantee made by a third party to a bank regarding a debt that falls short of a legal guarantee.
  • In an effort to increase budgetary management transparency, the finance ministry had earlier in March requested that other ministries and agencies refrain from issuing "Letters of Comfort" to any contracted organization for carrying out projects on their behalf. Read More

Cipla to further invest Rs26 crore in GoApptive to raise stake to 22%

Published on: 9:19 am

  • Cipla Limited has announced on Monday that it has agreed to acquire additional stake for Rs25.90 crore in digital tech company GoApptiv Private Limited (hereinafter referred as "Goapptiv") and post completion of the deal, Cipla's total stake in GoApptiv will increase to 22.02% on a fully diluted basis.
  • As per the filing, the investment will be made in equity shares and Compulsorily Convertible Preference Shares and is likely to be completed within 30 days or such other date mutually agreed between the parties and shall be subject to fulfillment of necessary closing conditions.
  • The company's earlier investment in GoApptiv in June 2020 has yielded growth and expanded Cipla's channel reach across lower tier towns in India. Read More

Manappuram Finance board to consider fund raise up to $100 million

Published on: 9:17 am

  • Manappuram Finance Ltd has informed that based on the finalization of terms of issue, the meeting of the Financial Resources and Management Committee of the Board of Directors of the company, is scheduled to be held on, June 30, 2022.
  • The meeting is held to consider and approve the issuance of Secured, Rated Redeemable Non-Convertible Debentures of up to US$100 million in INR equivalent, said the finance firm in a regulatory filing on Monday. Read more

Indian Card Clothing declares special interim dividend of Rs25 per share; stock zooms ~3%

Published on: 9:17 am

  • Indian Card Clothing Company Limited announced that the board of directors of the company in its meeting held on June 27, 2022, has declared a Special Interim Dividend for FY22-23.
  • The company stated that the board has approved a dividend of Rs25 per equity share of the face value of Rs10 each.
  • The company further stated that July 8, 2022, will be the cut-off date for the purpose of payment of the Special Interim Dividend for the financial year 2022-23. Read more

Hazoor Multi Projects bags order of Rs220 crore from Gayatri Projects; Stock hits new high

Published on: 9:16 am

  • Hazoor Multi Projects Ltd stocks rally in Tuesday market session after it has informed to the exchanges in a regulatory filing that it has received a major work order from Gayatri Projects Ltd.
  • As per the filig, the work order is for execution of change of scope work from ch.502.698 to ch.521.600 of package-11 for Rs220.41 crore. Read More

Nitin Gadkari lays foundation stone of 9 NH projects worth Rs1357 crore in Rajasthan

Published on: 9:00 am

  • Union Minister for Road Transport and Highways Nitin Gadkari Inaugurated and laid foundation stone of 9 NH(National Highways) projects of 243 km length worth Rs1357 crore in Rajasthan.
  • Speaking on the occasion he said  widening of Ninawa section from Sanchore on NH-168A in the state will increase the business of granite industries of Chalaur district and will make it easier for the farmers to reach Suratgarh Mandi.
  • The Minister said the 2-lane Sriganganagar to Raisinghnagar on NH-911 and the Sriganganagar reinforcement from Suratgarh on NH-62 will make it easier to reach the international border and the military station on both sides of the road. This will enhance India's strategic strength. He said the Armed Forces will get better connectivity across the border, new jobs will be created, which will move Rajasthan towards progress and prosperity. Read More

Markets may open in the Red due to profit booking

Published on: 7:58 am

  • Indian markets are likely to open in the Red today. Profit booking may start from early hours as many investors may try to take advantage of the rise seen yesterday. Oil prices have risen by 1% since yesterday. This rise has happened because of UAE saying that it is producing near its full capacity and it will not be possible for it to increase production any further. For India, any rise in oil price adds to negativity. SGX Nifty has also lost around 0.67% since morning.
  • US markets saw a quiet start to the week with profit booking in all indices. Dow Jones closed lower by 60 points. Nasdaq lost 83 points.Russell 2000 index closed in the green indicating that the broader markets have started  to outperform. Bond yields closed near 3.17% as crude prices saw rise as growth momentum returns. Read More

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