Indian stock markets opened higher, driven by global market gains and speculation on imminent U.S. Fed rate cuts. IndusInd Bank, UltraTech Cement, and TCS were among the gainers. Nifty IT sector also gained 0.9%, led by Coforge, Persistent, and TCS. Wall Street's optimism ahead of Fed Chair's address also supported the rise.
Pune police have apprehended two additional suspects, bringing the total arrests to nine in the Porsche crash case. The incident involved a minor allegedly driving under the influence of alcohol, resulting in the deaths of two motorbike riders. The suspects include family members and medical professionals accused of swapping blood samples to alter evidence.
rime Minister Narendra Modi paid tribute to former Prime Minister Rajiv Gandhi on what would have been his 80th birthday. Gandhi, India's youngest prime minister, served from 1984 to 1989.
Syrma SGS Technology Ltd., incorporated in the year 2004, is a Small Cap company (having a market cap of Rs 7524.28 Crore) operating in General sector.
Amber Enterprises India Ltd. key Products/Revenue Segments include Air Conditioners, Scrap, Job Work, Other Operating Revenue for the year ending 31-Mar-2024.
The chips will be available as early as October, the WSJ reported. This comes on the back of restrictions by the US the government on Nvidia to stop selling H100 chips to Chinese consumers due to security concerns.
Union Minister of Commerce and Industry, Piyush Goyal, underscored the need to bolster trade ties between India and Malaysia during the 'Meeting of India-Malaysia CEOs Forum' in New Delhi on Monday. He urged deeper collaboration across several sectors, aiming to expand trade and business relations.
The Indian Meteorological Department warned of heavy rainfall in East and East-Central India, driven by a low-pressure system over South Bangladesh. States like West Bengal, Jharkhand, and Bihar are particularly affected, also due to an active monsoon. The northeast, including Assam and Meghalaya, also received significant rainfall. Other parts of India, such as Kerala and Tamil Nadu, saw increased rainfall due to additional weather systems.
Orient Electric Ltd., incorporated in the year 2016, is a Mid Cap company (having a market cap of Rs 5706.47 Crore) operating in Consumer Durables sector.
JPMorgan has maintained a neutral rating on HCLTech with a target price of Rs 1,510. The recent CFO succession, while surprising, is expected to proceed smoothly. Prateek, who held the CFO position for six years, had been with HCLTech for 13.5 years in total.
President Joe Biden gave an emotional speech after stepping down from his reelection bid, urging support for Kamala Harris at the Democratic National Convention. Harris vowed to defeat Donald Trump, while Hillary Clinton praised both Biden's tenure and Harris' leadership qualities. Protests also occurred nearby, advocating for changes in the party’s stance on Israel.
A bull call spread is an options trading strategy that involves two call options. It is employed when a trader anticipates a moderate increase in the price of the underlying asset. The strategy consists of buying a call option at a lower strike price and selling another call option at a higher strike price, both with the same expiration date.
Andrew Holland says: “The market just came back to its senses, saying that, listen, there is nothing wrong with the economy. But the next phase is what is the Fed going to do because those worries will linger there. We have to see at least a 25 basis rate cut in September if not more but with the hints that there is going to be more throughout the year.”
In an interview with ETMarkets, Cheruvu said: “The timeless principles of buy and hold and the remarkable potential of compounding interest deserve our unwavering commitment, making it all the more important to embrace new investments with a focus on long-term wealth accumulation” Edited excerpts:
At the Democratic National Convention, Kamala Harris expressed gratitude to President Joe Biden for his leadership as she was confirmed as the Democratic nominee for President. Joe Biden, who stepped down due to age concerns, will support Harris. Key speakers include Barack Obama, Hillary Clinton, and other prominent Democrats.
Bajaj Electricals Ltd., incorporated in the year 1938, is a Mid Cap company (having a market cap of Rs 10966.72 Crore) operating in Consumer Durables sector.
Khaitan & Co's survey indicated continuous interest in India for private equity, with notable activity in energy, technology, healthcare, and financial sectors. Promoters are increasingly open to selling majority shares. The emphasis on due diligence, risk assessment, and ESG considerations among PE firms is rising, fostering diversified investment portfolios and new ventures.
Vinay Paharia, CIO of PGIM India Mutual Fund, identified overvalued conditions in smallcap and midcap segments but saw opportunities in high-quality, high-growth sectors such as IT, consumer discretionary, specialty chemicals, and healthcare. He highlighted the influence of potential rate cuts and capital flows driven by Bank of Japan's recent rate hikes on the market.
Dodla Dairy Ltd., incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 7326.23 Crore) operating in FMCG sector.
Veteran media executive Edgar Bronfman Jr. submitted a bid on Monday to acquire a stake in Paramount Global and National Amusements, the Redstone family company that controls the entertainment giant, a person familiar with the matter told Reuters. The competing offer for the home of Paramount Pictures, the CBS broadcast network, and MTV adds a fresh twist to the sale process, which has been marked by a number of unexpected turns.
Heavy rains in Hyderabad caused significant waterlogging and traffic disruptions, with authorities actively working to clear the roads. The ongoing Amberpet Flyover construction added to the traffic woes. In Telangana, lightning strikes during the rains resulted in two tragic deaths. The Indian Meteorological Department has predicted continued rainfall in the region over the next few days.
Hillary Clinton endorsed Kamala Harris at the Democratic National Convention, lauding her character and experience. Harris, backed by Joe Biden and Barack Obama, aims to restore abortion rights and reduce costs for families. Clinton emphasized Harris's dedication to public service, making her the first woman of color to lead a major party's presidential ticket.