The Chennai-based firm also upped its revenue guidance. Freshworks has given a 2024 full-year guidance revenue of $707 -$713 million, which has gone up marginally by around 1-2% on the back of rising demand for the firm’s AI solutions.
The stock traded at a P/E multiple of 32.74, while the price-to-book value ratio stood at 4.96.
It's important to note that penalties may apply if your income tax return is filed after ITR filing deadline of July 31. Many taxpayers are currently experiencing disruptions in the operations of the income tax portal as the deadline approaches.
In the Nifty pack, 36 stocks were trading in the green, while 14 stocks were trading in the red.
Indian shooter Manu Bhaker has made history at the Paris Olympics by winning two bronze medals: one in the women's 10m air pistol and another in the mixed team event with Sarabjot Singh. She is the first Indian athlete to win two medals in a single Olympics. Bhaker has inspired many with her achievements and resilience, sharing that she once defended PV Sindhu online using a fake profile.
With Sebi's crackdown on derivatives affecting NSE, BSE is gaining market share in F&O. Sebi's new rules limit weekly options to one benchmark index, reducing NSE's options volumes. BSE, with fewer index contracts, benefits as its share price rose over 7% to Rs 2,607 on Wednesday.
More than 1,000 people were rescued by the Indian Army following devastating landslides in Wayanad, Kerala. Combined efforts with the NDRF and state teams are ongoing. Brigadier Arjun Seagan conducted site reconnaissance, and additional equipment and personnel were airlifted to assist. The Indian Coast Guard also supports the relief operations.
Authorities intensified their crackdown on illegal basement classrooms following the incident. Drishti IAS coaching centre, a renowned institution in Mukherjee Nagar for civil services preparation run by educator Vikas Divyakirti, was among those affected. The centre’s basement was sealed on Monday, with officials stating that the basement classes were illegal, leading to the closure of five rooms.
On July 30, eight stocks from the NSE with a market cap exceeding Rs 10,000 crore closed above their 200 DMA, according to StockEdge.com's technical scan data.
Promoters held 62.55 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 11.85 per cent and 7.91 per cent, respectively.
Though definitely it is going to hit the volumes of the exchanges as well as it will going to hit the brokers also in terms of their revenue on the brokerage.
Utssav Cz Gold Jewels' SME IPO is now open for subscription until August 2. The company plans to raise Rs 69.5 crore by offering shares at Rs 104-110 each. The funds will primarily be used for working capital and general corporate purposes. The final allotment is expected on August 5, with listing likely on August 7.
Momentum to spread to other corners of the market.
A total of 340,922 shares changed hands on the counter till 10:40AM (IST)
The Nifty Bank index was trading 0.16 per cent up at 51579.55.
On the technical charts, the RSI of the stock stood at 81.59.
Intel is planning to cut thousands of jobs as part of a cost-reduction strategy to address declining market share. The company aims to save up to $10 billion annually by 2025 and is focusing on advanced chip technologies and expanding into the foundry business. The stock saw a slight increase despite a 40% slump this year.
The yen saw volatility after the Bank of Japan raised interest rates and reduced its bond-buying programme. Although it initially surged, gains were reversed quickly. The Australian dollar fell as lower core inflation decreased the likelihood of a rate hike. Market participants were keenly awaiting the Federal Reserve's rate decision, hinting at possible cuts in September.
The Nifty Auto index was trading 0.29 per cent up at 26658.15.
The recent Budget's Rs 26,000 crore injection into infrastructure has led advisors to endorse infrastructure mutual funds. Despite impressive past returns, future performance is unpredictable. Experts advise cautious allocations within a broader, diversified investment strategy, emphasizing long-term investment horizons and understanding of sector-specific risk and volatility.x`
Dynamic bond funds have the freedom to invest across securities and maturities depending on the outlook of the fund manager. So, when the rates go up, the fund manager might bet on short term securities as a rate hike will marginally impact them. When rates start falling, he will invest in long-term instruments to make money.
So, on the measures what SEBI has proposed to be implemented, of course, the volumes will get reduced to large extent coupling with the recent hike in the STT by the government in the recent budget. It will have an impact surely on the volumes and ultimately in the revenue of the brokerage firms.
On the technical charts, the 200-day moving average of the stock stood at Rs 3818.41.
A software professional accused two men, including her childhood friend, of gang-raping her in a Hyderabad hotel after celebrating her first job. In a separate incident, a 26-year-old woman was allegedly raped by a bus driver near Hyderabad. Police have arrested both drivers, with one suspect fleeing before being captured. Investigations are ongoing.
Tata Consumer, Power Grid, IndusInd Bank, Axis Bank and Tata Motors were among the top losers on NSE.
