Groww Mutual Fund's NFO of Groww Nifty India Railways PSU Index Fund and ETF, benchmarked against Nifty India Railways PSU Index, opens for subscription until January 30. Experts advise caution due to recent sectoral valuation increases and suggest waiting for evaluations to cool down.
A total of 2,856 shares changed hands on the counter till time (IST).
Industry experts call for an increase in the number of MSME e-commerce exporters and creating a more enabling environment for this segment.
The brokerage has raised its target price on Paytm by 40%, increasing it to Rs 1,050 from Rs 750. However, this revised target price is still below Paytm's recent peak of Rs 1,062.95, which was reached on December 17 last year.
Bank holiday today: In India, bank holidays vary by state. The RBI provides an annual holiday calendar, and digital banking is recommended for convenience. Tamil Nadu observes Uzhavar Thirunal on January 16th, affecting bank operations there.
The stock traded at a P/E multiple of 61.68, while the price-to-book value ratio stood at 7.33.
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AI-generated vivid digital images bring Indian epics, historic military battles, and tales of valour to life in a grand showcase commemorating the 77th Army Day in Pune. The event included live combat demonstrations, laser and drone shows, and celebrated epic battles and modern wars, culminating in an atmosphere of pride and patriotism.
Maha Kumbh has started in Prayagraj. Kaante Wale Baba, lying on thorns, is a major attraction. An international delegation from ten countries will take a holy dip at Triveni Sangam on January 16. The event signifies India's rich cultural and spiritual heritage. Key bathing dates continue until February 26, including Mauni Amavasya, Basant Panchami, and Maghi Purnima.
A total of 820,622 shares changed hands on the counter till 10:25AM (IST).
The Nifty Pharma index was trading 0.26 per cent at 21915.80.
Hindenburg Research shuts down: Hindenburg Research, founded by Nate Anderson in 2017, exposed various high-profile corporate frauds and financial mismanagement cases globally, leading to significant financial corrections, indictments, and regulatory actions. The firm ceased operations after concluding its final investigation into Wags Capital in 2024.
Gold and silver surged following softer-than-expected U.S. inflation data. The U.S. core CPI for December came in at 0.2%, lower than the anticipated 0.3% increase. The U.S. CPI on a yearly basis stood at 2.9%, matching expectations.
A total of 2,200 shares changed hands on the counter till 10:20AM (IST).
In the Nifty50 index, 32 stocks were trading in the green, while 18 stocks were in the red.
CLSA has included Zomato in its High Conviction Outperform list, maintaining an "Overweight" rating and increasing the target price to Rs 400 from Rs 370. This suggests a potential upside of 63% from the current market price of Rs 244.
Following violence at the Shahi Jama Masjid in November 2024, a crackdown on electricity theft in Sambhal resulted in over 1,400 registered cases, including 16 mosques and 2 madrasas. The campaign led to fines of Rs 11 crore, Rs 20 lakh recovered, and new connection applications from 22 mosques and one church.
A total of 16,887 shares changed hands on the counter till 10:15AM (IST)
Reliance Industries Ltd faces three consecutive quarters of declining profits amid global headwinds and weak downstream chemical performance. While the retail business shows mixed results, the digital segment offers some respite. Analysts predict a modest Q3 profit rise driven by recovery in refining margins and contributions from Jio.
Motilal Oswal Financial Services recommends buying Kalpataru Projects International with a target price of Rs 1500. The company reported a 7.33% increase in consolidated total income for the quarter ending 30-09-2024. Future growth driven by a healthy pipeline, improving execution, and stable margins is expected. Promoters held a 35.24% stake as of September 2024.
A total of 146,799 shares changed hands on the counter till 10:10AM (IST).