On August 19, the closing prices of four stocks from the Nifty500 pack rallied over 2% relative to the VWAP, and a shift above the VWAP suggests a potential bullish trend.
PwC has lost its biggest mainland China client, Bank of China, to EY. This change follows a regulatory probe into PwC's work with China Evergrande. Over 50 Chinese firms have dropped PwC recently, and EY along with KPMG have acquired many of these clients.
Recent government initiatives to recruit external experts into the bureaucracy, known as lateral entry, have caused political contention. Initially recommended by the UPA's Reforms Commission, the practice implemented under PM Modi faces criticism for not reserving seats for SC, ST, and OBC communities, while supporters argue it improves governance.
A total of 8,601 shares changed hands on the counter till 10:00AM (IST)
IDFC First Bank Ltd experienced a 30% decline from its recent peak, signaling bottoming out signs. Experts advised high-risk traders to buy the stock with a target of Rs 96 in 4-6 months. The stock exhibited potential reversal indicators, including a falling wedge and a bullish hammer, hinting at an upcoming uptrend.
The iron ore market saw unprecedented growth due to China's economic surge over the last 25 years. However, with demand peaking and new low-cost mines coming online, prices have dropped, creating a surplus.
Saraswati Saree Depot's shares listed at a 25% premium on BSE and NSE, with an IPO subscription of over 107 times. The funds raised included 65 lakh new shares and 35 lakh shares from promoters. The company, a key player in the saree wholesale business, reported a revenue of Rs 610 crore in fiscal 2024.
Heavy rainfall in Delhi-NCR on Tuesday brought much-needed relief from the heat but also caused widespread waterlogging and traffic disruptions. The India Meteorological Department (IMD) has forecasted light to moderate rainfall in the coming days, with an orange alert issued for parts of the city. Commuters faced significant challenges due to waterlogged streets and traffic diversions, with authorities urging residents to take alternate routes. This article provides detailed updates on the weather, traffic, and ongoing alerts in the region.
India is upgrading ports to bolster its manufacturing and exports. Efforts include expanding the Jawaharlal Nehru Port and constructing a new deep-water port in Vadhvan. These enhancements aim to cut trade costs and speed up delivery times, appealing to global companies looking to diversify manufacturing away from China.
The Indian rupee stabilized at 83.87 against the US dollar after initial gains, influenced by strong domestic equity markets and a weak dollar, offset by foreign capital outflows. Declining crude oil prices provided support. Investors were cautious ahead of US PMI data and Federal Reserve Chair Jerome Powell's speech for hints on rate cuts.
In 2024, promoter sales exceeded Rs 1 lakh crore. Data from ETMarkets and Prime Database reveal that promoters of over 250 companies have sold stakes totaling approximately Rs 97,000 crore through bulk and block deals. Promoters of listed companies have also offloaded stakes through the OFS route which accounts for another Rs 7,300 crore.
West Bengal formed a special investigation team to investigate financial irregularities at RG Kar Medical College and Hospital following the death of a postgraduate trainee doctor. Led by IG Dr. Pranav Kumar, the team has been given one month to report and has full access to required documents from both government and private entities.
Mukesh Ambani, aiming to dominate India's fast-fashion market, faced challenges from Tata Group's Trent Ltd. Despite substantial investments, Ambani's Reliance Retail has struggled to match Trent's success. To counter this, Ambani has partnered with Chinese fashion giant Shein to revitalise his retail segment.
Even though if you notice today this drop on US dollar and expectation for the Fed minutes and Jerome Powell's speech, I believe the markets are pricing a dovish surprise. I highly doubt it is the right time for it, but that is what the markets are pricing right now.
India's leading mutual funds made important portfolio adjustments in July. SBI added Vedanta and Lupin, ICICI Prudential included Graphite India and J K Cements, and HDFC acquired GMM Pfaudler and RBL Bank. Nippon India added Schaeffler India, while Kotak included Deepak Nitrite. These adjustments reflect their strategic outlook on various sectors.
Shares of food aggregator Zomato dropped 2% to a day's low of Rs 257.10 on the BSE in the early trading session following reports that Antfin Singapore sold a 2.4% stake in the company through a block deal. Approximately 21 crore shares, equating to a 2.4% stake, were traded in this deal. The identities of the official parties involved in the transaction have not yet been revealed.
A surge in online threats have triggered demand for companies such as Palo Alto offering cybersecurity products. However, analysts have said the July 19 outage, linked to CrowdStrike's software update, has exposed risks of dependence on a single vendor.
Billionaire entrepreneur Elon Musk has expressed his willingness to serve in a cabinet role or advisory post if Donald Trump wins the presidential election. This willingness came after Republican candidate Trump hinted at such a possibility in a recent interview.
Sourav Ganguly changed his social media profile pictures to black to support justice for a trainee doctor who was raped and murdered in Kolkata. He clarified his earlier controversial comments, emphasizing the need for severe punishment. The incident ignited widespread outrage and calls for improved safety measures for medical professionals.
The All India Majlis-e-Ittehadul Muslimeen (AIMIM) is seeking to align with the Maha Vikas Aghadi (MVA) alliance in Maharashtra to defeat the ruling Bharatiya Janata Party (BJP), according to AIMIM state president Imtiaz Jaleel. Jaleel expressed willingness to collaborate with the MVA, emphasizing the need to keep the BJP out of power. While AIMIM is open to joining forces with the MVA, it remains prepared to contest independently if necessary, particularly as state assembly elections approach.
Taiwan showcased its missile capabilities on Tuesday, conducting live-fire tests at the Jiupeng base in Pingtung County. The drills, which included launches of U.S.-made Patriot and Taiwan-made Sky Bow III missiles, are part of Taiwan's efforts to bolster its defense amid increasing Chinese military pressure. The tests successfully demonstrated the readiness of Taiwan's military and the effectiveness of its weapons systems. Taiwan remains firm in rejecting China's territorial claims, emphasizing... Читать дальше...
In the Nifty200 pack, we have collated a list of five stocks that witnessed a 5-year swing high at the close on August 19, suggesting bullishness in counters.
Over 200 South Korean and U.S. fighter jets will participate in the largest joint air drills to date, flying continuous sorties for five days. These exercises, part of the annual Ulchi Freedom Shield, are aimed at enhancing military readiness against North Korean threats. The drills include simulated air combat and missile defense scenarios. North Korea, which relies on outdated aircraft, has criticized the drills as provocative, while advancing its own short-range missile and nuclear capabilities.
Symphony Ltd., incorporated in the year 1988, is a Mid Cap company (having a market cap of Rs 11785.44 Crore) operating in Consumer Durables sector.
The Indian market was expected to see gains on Tuesday amid positive global cues. The Nifty future ended flat at 24,590 on Monday. Analysts suggested Nifty needs to hold above 24,500 levels for further gains. Experts named several stocks for short-term trading in the F&O and cash markets.
