Kaynes Technology India Ltd., incorporated in the year 2008, is a Small Cap company (having a market cap of Rs 29640.09 Crore) operating in General sector.
A BSF personnel was injured in unprovoked firing by Pakistani troops along the border in Jammu. The incident occurred in the Akhnoor area and was met with retaliation from the BSF. This rare ceasefire violation comes just days before the first phase of assembly elections scheduled on September 18.
Sebi Madhabi Puri row: The credibility crisis at the Securities and Exchange Board of India (SEBI) persists as Chair Madhabi Puri Buch faces scrutiny over potential conflicts of interest. Allegations from the Congress Party and Hindenburg Research raise questions about her financial dealings and past investments, prompting calls for stricter financial controls and transparency within SEBI.
Taylor Swift Endorsement US Presidential Debate: Pop superstar Taylor Swift endorsed Democrat Kamala Harris in the US presidential contest against Donald Trump, saying she was a "warrior." "I will be casting my vote for Kamala Harris and Tim Walz in the 2024 Presidential Election," she posted on her Instagram account.
Vegetarian Burmese restaurant chain Burma Burma plans to go public with an IPO by 2027. The company aims to triple its footprint and reach '300 crore in revenues before the IPO. They recently raised $2 million and are looking to raise another $3 million, with expansion plans in India and possibly UAE or UK.
Swiggy plans to increase the fresh issue component of its upcoming IPO to ₹5,000 crore and will seek shareholder approval at an EGM on October 3. The company initially aimed to raise ₹3,750 crore in fresh capital. Swiggy recently reported a 36% rise in operating revenue and a reduced net loss for the year ended March 31, 2024.
Amazon Web Services plans to invest 8 billion pounds in the UK over the next five years to build and maintain data centres. This investment is expected to contribute 14 billion pounds to the UK's GDP by 2028 and support over 14,000 jobs. The project highlights increasing demand for cloud services driven by artificial intelligence.
Varun Beverages, PepsiCo's bottling partner, has announced a 2:5 stock split effective from September 12, 2024. This means each Rs 5 share will be split into shares worth Rs 2 each. The company reported a 26% YoY increase in profit for Q2 2024 and a 28% rise in revenue.
SJVN, recently granted Navratna status, has set September 12 as the record date for determining shareholders eligible for dividend payments. The company announced a final dividend of Rs 0.65 per share for FY 2024-25. Other companies like Amines & Plasticizers and Bharat Rasayan also declared dividends, with shares trading on an ex-dividend basis from Thursday.
Executives from Google, Adobe, Microsoft, and Meta Platforms will testify at a U.S. Senate Intelligence Committee hearing on election threats. The hearing aims to address efforts to combat disinformation and misinformation online related to the upcoming Nov. 5 election between Vice President Kamala Harris and former President Donald Trump.
Vice President Kamala Harris and former President Donald Trump faced off in their first presidential debate for the 2024 election. They discussed tax cuts, inflation, and trade wars, presenting differing viewpoints. Trump criticized Harris for inflation and immigration issues, while Harris attacked Trump's trade policies and economic strategies.
The finance ministry has proposed amendments to allow stock brokerages to invest in non-securities or unrelated businesses, provided they don't use client money or create financial liabilities. This move aims to expand brokers' revenue streams while protecting client assets. Public comments on the proposal are invited by October 10.
Vice President Kamala Harris and former President Donald Trump engaged in their first presidential debate of the 2024 election, hosted by ABC News. They discussed the Israel-Hamas war, with Harris advocating for a ceasefire and a two-state solution, while Trump accused her of not supporting Israel, which she denied.
Motilal Oswal Financial Services anticipates a recovery in the IT sector, citing a rebound after a phase of discretionary spending cuts, with HCL Technologies, LTI Mindtree, and Persistent Systems as top picks, and an upgraded ‘Buy’ rating for Coforge. The firm believes the sector is poised for sustained growth over the next 2-4 years.
Benchmark Sensex gained nearly 362 points, with Nifty closing above 25,000 on Tuesday. Stocks in focus included GMR Airports, IREDA, and Suzlon Energy, which saw significant gains. Analyst Viral Chheda suggests these stocks have potential for further growth and recommends buying at current levels and dips for long-term investment.
State Bank of India plans to raise up to ₹7,500 crore through tier-2 bonds next week to meet growing credit demand. The bond sale, with a base size of ₹3,500-4,000 crore and the remainder via a greenshoe option, is set for September 18. The funds will likely support regulatory requirements and business growth.
Investors seeking regular income post-retirement can benefit from systematic withdrawal plans (SWPs) in mutual funds. SWPs offer fixed monthly withdrawals, tax efficiency, and stability compared to dividends. Financial planners recommend large-cap, flexicap, and balanced advantage funds for SWPs while avoiding sectoral or small-cap funds to sustain the corpus longer.
Hindenburg Research has accused SEBI chief Madhabi Buch of maintaining silence on allegations of conflict of interest. Congress claims Buch's consultancy firm earned Rs 3 crore from companies regulated by SEBI, including Mahindra & Mahindra and ICICI Bank, during her tenure as a whole-time member of SEBI.
The Reserve Bank of India has fined Axis Bank ₹1.91 crore and HDFC Bank ₹1 crore for regulatory non-compliance. Axis Bank's violations include multiple customer identification codes and collateral security for agricultural loans. HDFC Bank's issues involve giving gifts to depositors and contacting customers outside permitted hours.
Traders reduced their bullish bets on insurers after the GST Council left rates on insurance products unchanged. HDFC Life, ICICI Prudential Life, and ICICI Lombard saw declines. The industry is lobbying for a rate cut from 18% to 12%. A group of ministers will review the proposal before the next meeting in November.
Vedanta Resources has launched a dollar bond issue at a final price guidance of 10.875%, with an order book of $1.6 billion. The proceeds will refinance bonds due in 2027 and 2028, potentially reducing funding costs by over 300 basis points. The bonds are rated B- by S&P and have a five-year tenure.
US Election Debate 2024: In a heated debate, Republican Donald Trump and Democrat Kamala Harris clashed over immigration. Trump repeated a debunked claim about migrants eating pets in Springfield, which was refuted by the city manager. Harris called Trump's comments 'extreme.' The debate also covered topics like the economy and abortion.
Investors continued to pour money into equity mutual funds in August, with inflows reaching ₹38,239 crore. Systematic investment plans (SIPs) also saw a record high of ₹23,547 crore. Debt funds attracted ₹45,169 crore. The mutual fund industry's total average assets under management surged to ₹66.04 lakh crore.
Gold prices remained steady as investors awaited key U.S. inflation data, which could provide insights into potential interest rate cuts by the Federal Reserve. Spot gold edged up 0.1% to $2,517.80 per ounce. The U.S. Consumer Price Index data is expected to show a 0.2% rise month-on-month for August.
