Hrishikesh Yedve of Asit C. Mehta Investment, said, "Nifty witnessed heavy selling pressure after forming a spinning top pattern and ended with a red candle. A strong break below 24,000 will likely trigger further selling pressure in the index. On the downside, 23,300 and 23,000 will provide significant support for Nifty in the immediate term."
For the June quarter, the company reported revenue from operations of Rs 1,222 crore, a 44% increase year-on-year, driven by improved ADS and store additions. In the corresponding quarter of the previous year, revenue was Rs 847 crore. Consolidated EBITDA for the quarter was Rs 220 crore, with margins at 18.3%, reflecting a 1.7% improvement compared to the previous quarter.
Shares of Bajaj Consumer ended at Rs 258.30 on the NSE today, falling by Rs 5.10 or 1.94% over the Friday closing price. The stock has delivered 13% returns over a one year period and in 2024, so far, outperforming Nifty on the YTD basis while underperforming the 50-stock index over a 1-year period. Nifty's YTD returns stand at 10% while 1-year returns hover around 23%.
Vedanta Resources Ltd. aimed to refinance its high-yield debt to lower costs following a favorable rating upgrade. The company entered talks to refinance $3 billion of bonds maturing between 2026 and 2028. S&P Global Ratings upgraded Vedanta, citing its adequate internal resources. The miner intended to reduce borrowing costs by up to 400 basis points.
IndiGo's Rahul Bhatia addressed the airline's dominant market share, attributing it to the exit of competitors like Kingfisher and Jet Airways. He assured that IndiGo remains committed to fair pricing and operational efficiency, while exploring long-haul international routes, an area largely controlled by foreign airlines.
Consulting firm iDeCK identified seven sites around Bengaluru for a second airport. Discussions are ongoing with Chief Minister Siddaramaiah, and an application will be submitted to the Airports Authority of India. The planned airport aims to be completed by 2033 and is intended to address future passenger and cargo capacities beyond KempeGowda Airport's limits.
Seven stocks from the BSE500 index reached their highest prices of the past year.
In August 2024, Indian students were occupied with academics after the start of the new school year. The month featured key holidays such as Independence Day, Raksha Bandhan, and Janmashtami, providing respite for students. Important observances like Hiroshima Day and National Sports Day were also commemorated, enriching students' cultural awareness.
While Friday's weaker-than-expected U.S. jobs data was the catalyst for the market sell-off, with Japan's blue-chip Nikkei index on Monday suffering its biggest one-day rout since the 1987 Black Monday selloff, the employment report alone wasn't weak enough to be the main driver of such violent moves, they added.
Following political unrest in Bangladesh, with Prime Minister Sheikh Hasina resigning and reportedly fleeing, India has sounded a high alert in bordering areas. Clashes in Dhaka resulted in over 100 deaths and more than 1,000 injuries. Security along the 4,096-km India-Bangladesh border has been tightened. The vandalism of a statue of Sheikh Mujibur Rahman, Hasina's father, intensified the crisis. An interim government is set to take control. Recently, numerous Indian students studying in Bangladesh... Читать дальше...
Meghalaya has implemented a night curfew along the India-Bangladesh border from 6 pm to 6 am after recent upheaval in Bangladesh. The curfew, announced by Deputy Chief Minister Prestone Tynsong, follows a state meeting. The Border Security Force will oversee the security. Sheikh Hasina resigned as Bangladesh’s Prime Minister after severe clashes.
COBRA meeting was held by the UK government to check widespread violence. British Prime Minister Keir Starmer held the urgent meeting.
The oil-to-telecom conglomerate said that the dividend, "if declared at the AGM", will be paid within a week from the conclusion of the AGM. RIL has fixed August 19, Monday as the record date for determining the eligibility of investors for receiving dividend for financial year 2023-24 subject to the declaration of the dividend.
Olympic Village's facilities and accommodations are coming into question for the past one week and is currently back in the headlines after Olympic gold medalist from Italy, Thomas Ceccon was spotted sleeping in a park, and not in his accommodation back at the Olympics Village.
External Affairs Minister S. Jaishankar briefed Prime Minister Narendra Modi on the evolving political crisis in Bangladesh, where Prime Minister Sheikh Hasina resigned amid widespread protests. On Monday, Hasina arrived at Hindon Air Base near New Delhi aboard a C-130 Hercules, but it is unclear if she will remain in Delhi or travel elsewhere, with speculation suggesting a move to London.
In its Annual Report 2023-24, the Aayog said corporate bond markets are an efficient cost minimization process for long-term funding and contribute significantly to financial stability. It is a mechanism for supporting the bank for long-term lending against relatively shorter-tenor liabilities and helping the insurance companies and pension fund holders to diversify their portfolios while spreading or distributing the risks and managing the liquidity gap, it said.
Amid concerns about a potential US recession, the Sensex fell more than 2,200 points on Monday, and the Nifty dropped below the 24,100 mark due to sell-offs in major stocks. The short-term trend for the Nifty is sharply downward, and the overall chart pattern appears weak across all time frames.
A Bench led by Justice Pankaj Mithal sought a response from the government on an appeal filed by Beaver Infra Consultants challenging a Gauhati High Court judgment that dismissed its plea for an appointment of an arbitrator in its dispute with North Eastern Frontier Railway (NEFR). The HC had refused relief on the ground that value of claims in arbitration exceed 20% of the contract value, thus arbitration as a remedy was excluded in the case.
Reliance Industries will hold its 47th annual general meeting (AGM) on August 29, 2024, at 2 p.m. IST. The meeting will be conducted via video conferencing and other audio-visual means, following guidelines from the Ministry of Corporate Affairs and the Securities and Exchange Board of India. Chairman Mukesh Ambani will address shareholders, providing insights into the company's strategic directions and future plans.
The Confederation of Indian Alcoholic Beverage Companies appointed Anant S Iyer as its new director general. Iyer, who formerly served as the chief operating officer at Alcobrew and Jagatjit Industries, takes the helm at a challenging time as the government considers banning surrogate alcohol advertisements, which could affect many alcohol companies operating in India.
The teaser trailer for The Last of Us Season 2 has created a lot of excitement hinting at thrilling developments and new character introductions.
Capital markets regulator Sebi has approved the public offers of five companies, but also returned the offer document of Sanathan Textiles. The approved IPOs include that of Manba Finance, Baazar Style, Deepak Builders, Diffusion Engineers and Bajaj Housing Finance.
