ICICI Prudential Life Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 109094.46 Crore) operating in Financial Services sector.
United Naga Council (UNC) issued an ultimatum to Union Home Minister Amit Shah for redressal of the pending issues of “arbitrary creation” of seven new districts in Manipur in 2016 and warned of intense agitation if not resolved the issue within 15 days time.
Shimla Sanjauli Mosque Row: Shimla police released a video of stone pelting during a protest in Sanjauli over alleged illegal mosque construction. Eight FIRs have been registered, and six policemen were injured. Himachal Pradesh Minister Vikramaditya Singh stated that the government will act according to the law. The mosque committee has offered to demolish any illegal parts if ordered by the court. Singh accused BJP of allowing the construction during COVID-19 when Jairam Thakur was Chief Minister.
On September 12, the closing prices of three stocks from Nifty500 dropped by more than 1.5% relative to the VWAP, and a shift below the VWAP suggests a potential bearish trend.
A Joint Parliamentary Committee meeting on the Waqf (Amendment) Bill, 2024, will take place from September 18 to 20 in New Delhi. Representatives from the Ministry of Minority Affairs and various stakeholders will present their views. The bill aims to address concerns about the use of Waqf Board properties.
Bill Gates, the Microsoft founder, warns of potential global threats like major wars and pandemics. He criticizes the US for its inadequate response to COVID-19 and stresses the need for better preparedness. His upcoming Netflix docuseries with Dr. Anthony Fauci highlights the importance of wealthy nations leading in disease prevention.
The 30-share BSE Sensex was down 187.64 points at 82775.07
Western Carriers IPO Day 1: Western Carriers' IPO opens for subscription, featuring a fresh equity sale of Rs 400 crore and an offer for sale by promoter Rajendra Sethia. The price band is set at Rs 163-172 per share. Analysts recommend it for high-risk investors due to financial challenges. Proceeds will repay borrowings and fund capital expenditure.
Illia 'Golem' Yefimchyk, known as the “world’s most monstrous bodybuilder”, passed away at 36 due to a heart attack. Despite his wife's efforts and brief signs of recovery, he succumbed on September 11. Known for his extreme physique and social media presence, he inspired many with his dedication to fitness.
As per Sebi norms, these schemes must invest 65-80% in stocks, and 20-35% in debt. This mixed portfolio helps to deal with the market volatility better. When the equity market is in turmoil, the debt part of the portfolio softens the blow. This helps new investors to continue with their investments without worrying too much about volatility.
Patanjali Foods Share Price: Shares of Patanjali Foods fell by 4% on the BSE today, hitting a day’s low of Rs 1,855.10. The drop followed a block deal involving 1.2 crore shares, or 3.3% of the company’s equity, valued at Rs 2,223.4 crore. The floor price for the deal was set at Rs 1,815, with the promoters likely being the sellers.
Chief Minister Mohan Charan Majhi-led Odisha cabinet has approved the proposal for providing 10% reservation and exemption from physical tests for ex-Agniveers in uniformed services.
Reserve Bank of India Governor Shaktikanta Das said policymakers need to remain firm despite a slight dip in inflation. While inflation is within the target range, the RBI aims for a 4% rate. Das highlighted the importance of caution due to volatile food prices and potential future inflation risks.
On September 12, the closing prices of three stocks from the Nifty500 pack rallied about 2% and more relative to the VWAP, and a shift above the VWAP
Blackstone Inc. is exploring options for selling its majority stake in VFS Global, a visa outsourcing and technology services firm, after receiving interest from potential investors. The company may consider bringing in a minority investor to raise funds and support growth. Discussions are at an early stage and no final decision has been made.
Gold and silver posted solid gains after hefty interest rate cuts by the ECB and weakness in the dollar index. The European Central Bank cuts deposit rates by 25 basis points to 3.50% and refinancing rates by 60 basis points to 3.65% from 4.25% earlier.
Brokerage firms BofA, Jefferies, and CLSA have issued ratings on Tata Motors, Bharti Hexacom, Bharti Airtel, and Adani Ports. BofA and Jefferies recommend buying Tata Motors and Bharti Hexacom respectively, while CLSA rates Adani Ports as outperform. Jefferies also maintains a buy rating on Bharti Airtel with an increased target price.
On the options front, the maximum Call OI is placed at 26000 and then towards 25500 strikes while the maximum Put OI is placed at 24500 and then towards 25000 strikes.
Amber Enterprises India Ltd. key Products/Revenue Segments include Air Conditioners, Scrap, Job Work, Other Operating Revenue for the year ending 31-Mar-2024.
US Presidential Elections 2024: Laura Loomer, a far-right activist associated with former President Donald Trump, has faced backlash for making racist remarks about Vice President Kamala Harris. Loomer's comments, which included derogatory references to Harris's Indian heritage, have been condemned by prominent figures, including Congresswoman Marjorie Taylor Greene. The controversy highlights ongoing tensions and divisions within the MAGA movement and broader political circles.
Indian indices Sensex and Nifty opened lower, down 0.20% and 0.23%, due to FMCG, energy.
In the Nifty50 pack, we have collated a list of five eight that witnessed a 5-year swing high at the close on September 12, suggesting bullishness in counters.
Pricol Ltd. key Products/Revenue Segments include Auto Components, Other Operating Revenue, Traded Goods, Export Incentives and Other Services for the year ending 31-Mar-2024.
The Nifty has recently surpassed the 25,330 resistance level, reaching a new all-time high of 25,389 with a nearly 2% surge on Thursday. Global markets remain in a consolidation phase near key breakout levels. Traders are closely monitoring the upcoming Fed meeting, with expectations of a 25 basis point rate cut positively influencing market sentiment.
