The Relative Strength Index of the stock stood at 41 on Thursday.
Raymond Lifestyle's shares rose 3.4% after Motilal Oswal projected a 29% upside, with a target of Rs 3,000. The growth outlook is fueled by the brand's focus on growth, disciplined working capital, and expanding categories like Ethnix.
In 2024, West Bengal experienced strong economic growth with notable investments in manufacturing and IT, but faced challenges with corporate relocations and fiscal management. Key projects include Infosys' new centre, Shyam Steel's facility, and a Silicon Valley project. Despite growth, policy reforms are needed to retain businesses.
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India is expected to become the world's third largest economy in the next five years. Emerging sectors, including global capability centres and data centres, are playing a significant role in this growth. The country's data centre capacity and GCCs have expanded rapidly, with increasing investments and advancements in AI and cybersecurity set to further boost the economy.
The Nifty Pharma index was trading 0.04 per cent at 22550.55.
Rexas Finance, a new leader in the asset tokenisation market, continues to grow rapidly. After raising approximately $33,125,000 from its presale, tokens are now valued at $0.175. Early investors have seen a significant 483% increase. With further stages ahead and projections of up to 20,000% returns, the platform promises substantial future growth.
Bangladesh has seen significant changes with the ousting of Prime Minister Sheikh Hasina, who fled to India amid protests. Relations with India may be impacted, especially with the interim leader Muhammad Yunus calling for her extradition. The interim government faces accusations of genocide, while economic and political stability remains uncertain.
The Nifty India Defence sector led CY24 with a 58% rise, driven by strong performances in the first half. Stocks like Zen Technologies, Cochin Shipyard, and Mazagon Dock Shipbuilders saw significant gains, with some doubling investors' wealth.
The NSE Nifty index was trading 14.15 points up at 23741.8
Godfrey Phillips India will appoint Siddharth Chawla as its new Chief Operating Officer from January 7, 2025. Chawla brings 24 years of experience from companies like ITC, Udaan, and Pharmarack Technologies. His expertise includes developing strategies, new business systems, and leading teams in complex environments.
TCS, Trent, ICICI Bank, Asian Paints and Grasim Inds. were among the top losers on NSE.
Recent tests suggest ride-hailing apps are allegedly charging iPhone users more than Android users for similar routes in Chennai. Uber denies this, attributing discrepancies to dynamic pricing factors. Experts say platforms can adjust fares based on device type and user behavior. Calls for transparency continue as concerns grow about pricing algorithms.
Delhi's air quality hit the 'very poor' category with an AQI of 340 on Thursday, as recorded by CPCB. Thirty-two out of 38 monitoring stations reported 'very poor' AQI levels. The IMD has predicted thunderstorms and rain on Friday and Saturday, with dense fog on Sunday. The temperature was recorded at 8.2°C, slightly above normal.
IRCTC Website Down: The IRCTC app and website experienced an outage on Thursday morning, preventing users from booking tickets. Many users cited maintenance issues and potential scams as concerns. This is the second outage this month, causing frustration among passengers trying to book tatkal tickets. The IRCTC has not yet responded to the outage.
International Gemmol, One Mobikwik Systems, KFIN Technologies, Kohinoor Foods and Newgen Software, hit their fresh 52-week highs at 10:59AM.
Closer home in India, we will probably see a turn in the interest rate cycle after a couple of years hopefully and we will also see earnings sort of picking up a little bit of a pace in the second half as compared to the first half of this financial year and then we have to see whether the investment demand picks up adequately or not because that has been lagging for the last one year or so, especially on the government side.
An earthquake of magnitude 2.6 struck Sonipat, Haryana, at 09:42 am IST on Friday, as reported by the National Centre of Seismology. The quake occurred at a depth of 10 kilometers and was located at Latitude 28.82° N and Longitude 76.90° E. For more details, visit the BhooKamp App.
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The 30-share BSE Sensex was down 88.44 points at 78384.43
China has approved the construction of the world's largest hydropower dam on the Yarlung Zangbo River, aiming to generate 300 billion kWh annually. This project could impact millions downstream in India and Bangladesh, potentially altering the river's flow, local ecology, and requiring large-scale resettlements.
