An increase in oil prices to mid-80s or 90s would harm India's economy short-term. However, without major disruptions in the Middle East, prices are expected to stay below $80, which is manageable. Current global economic conditions, with weak Chinese and European economies, suggest stable oil prices beneficial for India's growth.
The Centre’s air pollution control panel has asked Delhi-NCR state governments to start the first stage of the Graded Response Action Plan. This comes after Delhi's air quality remained in the 'poor' category for two days. Measures include strict checks on polluting vehicles, better waste management, and limits on diesel generators from Tuesday.
A total of 71,151 shares changed hands on the counter till 10:19AM (IST)
Delhi has activated the first stage of the Graded Response Action Plan due to poor air quality. Measures include inspections of polluting vehicles and strict emission controls on industries. The plan also bans open burning of waste and restricts diesel generator use. Delhi's AQI is 207, categorized as 'poor'.
Eating the right foods a day before Karwa Chauth can help you stay energized and comfortable during the fast.
Latest SBI loan interest rates:SBI has decreased the interest rate of one MCLR duration by 25 basis points (bps), while keeping the other rates the same. The latest MCLR will come into force from October 15, 2024.
The Nifty Realty index was trading 0.35 per cent down at 1053.7.
The new income tax regime's elimination of Section 80C benefits has led to outflows exceeding Rs 2,000 crore from Equity Linked Savings Schemes (ELSS) in six months. Experts advise investors under the new regime to consider non-ELSS equity funds due to broader strategy options and themes.
Reliance Industries shares fell about 1% following weak Q2 results. The 5% decline in net profit led Motilal Oswal to reduce the target price to Rs 3,255. Other brokerages like Jefferies, CLSA, and Nomura also commented on the results. Future triggers include new energy operations by March 2025 and potential listings of Jio and Retail businesses.
As of 30-Jun-2024, promoters held 68.58 per cent stake in the company, while FIIs held 11.58 per cent and domestic institutional investors had 3.55 per cent.
The Nifty IT index was trading 0.02 per cent down at 42862.35.
Fitch said higher trade barriers in the wake of the US elections could pose additional challenges for issuers across multiple credit sectors in Asia-Pacific (APAC).
China considers an additional 6 trillion yuan in special treasury bonds to stimulate its economy, but the market remains unimpressed. The funds aim to stabilize growth, aid local governments, and address debt issues. Although analysts expect this to support a 5% growth target, structural economic challenges persist.
S Paramesh has been appointed as the new chief of the Indian Coast Guard, officially assuming his duties on October 15. With over 30 years of extensive experience and accolades, Paramesh takes over following the sudden passing of DG Rakesh Pal. His career includes key command positions and distinguished service awards.
A total of 340,569 shares changed hands on the counter till 10:04AM (IST)
HCL Technologies shares climb 1.3% after reporting a 10.5% increase in Q2 net profit to Rs 4,235 crore, with revenue up by 8.2% to Rs 28,862 crore. Brokerages raise target prices, expecting sustained growth driven by solid deal pipelines and strategic focus on Data & AI, Digital Engineering, and SAP migration.
Hyundai Motor India will launch a Rs 27,870 crore IPO, expected to trade at 26X FY2024 earnings. Brokers have mixed views on its valuation. Some see it as high with limited short-term gains, while others find it fair compared to rivals Maruti Suzuki and Tata Motors. The listing is on October 22.
The stock traded at a P/E multiple of 7.74, while the price-to-book value ratio stood at 1.26.
Oberoi Realty Ltd bounced back after testing its 50-DMA, reaching a new high in October. Experts suggest buying for a Rs 2,300 target within 1-2 months. The stock shows strong momentum, trading above key moving averages, and has significant support at Rs 1,780 and resistance at Rs 1,900.
Israel has reassured the US that it will not target nuclear or oil facilities in its planned attack on Iran. This assurance comes after Iran fired ballistic missiles at Israel. US officials have expressed relief at Israel's decision, aiming to avoid further regional conflict and a spike in global energy prices.
The Kuki-Zo community backs the United Naga Council's demand for rolling back the creation of seven Manipur districts established in December 2016. An inconclusive meeting was held among the Ministry of Home Affairs, Manipur state government, and the Naga body, with further talks scheduled for November 15.
Global public debt is forecasted to exceed $100 trillion, with the IMF warning it may grow faster due to increased spending. U.S. tax cut plans and campaign promises ahead of the presidential election could add trillions to deficits. The IMF urges fiscal consolidation, but current efforts are deemed insufficient to stabilize debts.
SpaceX has released new footage showing the first-time capture of its Super Heavy booster by the launch tower's mechanical arms. This significant milestone in their fifth test flight of the Starship rocket marks progress towards developing a fully reusable rocket system crucial for NASA's moon missions. Engineers called it a historic achievement as the booster landed safely.
Hyundai Motor India's IPO, the largest in India's history, may pave the way for other South Korean conglomerates like LG and potentially Samsung to list on Indian exchanges, potentially easing the valuation disparity known as the 'Korea Discount.' However, gains for investors are expected to be modest.
Gold and silver December futures opened lower today amid profit-taking due to a stronger dollar index and weak Chinese economic data. Gold traded at Rs 75,980 per 10 grams while silver was at Rs 90,715/kg. Experts predict volatility with current support and resistance levels provided.
