HImFasHIon: 2023-02-19

Saturday, 25 February 2023

Sell-off spree continues in FPIs; withdraw Rs 2,300-cr from equities in Feb

Foreign investors have turned cautious and pulled out Rs 2,313 crore from Indian equities so far this month ahead of the release of Federal Reserve's latest meeting minutes. However, the pace of selling has come down compared to January, when Foreign Portfolio Investors (FPIs) took out Rs 28,852 crore. This was also the worst outflow in the last seven months, data with the depositories showed. Prior to that, they made a net investment of Rs 11,119 crore in December and Rs 36,238 crore in November. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said rising rates in the US might lead to more capital outflows from emerging markets including India. According to the data, FPIs withdrew a net amount of Rs 2,313 crore from Indian equities during February 1-24. "FPIs turned cautious ahead of the release of the minutes of FOMC meeting and on the back of series of disappointing economic data in the US, indicating slow pace of moderation in inflation. This fann

from Markets https://ift.tt/4aH2MxR

Nine of top 10 firms lose Rs 1.87 trn in mcap; HDFC Bank, RIL hit hard

Nine of the 10 most valued firms faced a combined erosion of Rs 1,87,808.26 crore in market valuation last week, with HDFC Bank and Reliance Industries taking the biggest hit amid an overall weak trend in equities. Last week, the BSE benchmark tumbled 1,538.64 points or 2.52 per cent amid concerns that the US Federal Reserve might raise interest rates further to curb inflation. Fresh foreign fund outflows also dented investor sentiments. Barring ITC, all 10 firms, including Tata Consultancy Services (TCS), Infosys, ICICI Bank and Hindustan Unilever, were the laggards. HDFC Bank's valuation declined by Rs 37,848.16 crore to Rs 8,86,070.99 crore at close on Friday. The market valuation of Reliance Industries fell by Rs 36,567.46 crore to Rs 16,14,109.66 crore. The valuation of TCS tumbled Rs 36,444.15 crore to Rs 12,44,095.76 crore and that of HDFC tanked Rs 20,871.15 crore to Rs 4,71,365.94 crore. The market capitalisation (mcap) of ICICI Bank fell by Rs 15,765.56 crore to Rs ...

from Markets https://ift.tt/vauDSUF

Progressing towards regulation on Crypto under India's G20 presidency: FM

Recognizing the risks attached to the private virtual assets, G20 nations moved a step closer to developing a coordinated and comprehensive policy approach to deal with the crypto assets, she said

from Markets https://ift.tt/gYnpket

Banning cryptocurrency should be an option: IMF's Kristalina Georgieva

Georgieva also said that there are some disagreements between the nations on the issue of debt restructuring of low and middle income countries

from Markets https://ift.tt/wrNh4Zm

Friday, 24 February 2023

Gold price unchanged at Rs 56,510 per 10 g; silver price falls Rs 500

The price of ten grams of 24 carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 56,510

from Markets https://ift.tt/bl6oReu

Sam Bankman-Fried now charged with unlawful political contributions

Sam Bankman-Fried former CEO of collapsed crypto exchange FTX, has now been charged with 4 additional counts of fraud, including unlawful political contributions leading up to the 2022 elections

from Markets https://ift.tt/Vl31gun

Sri Lanka's body approves renewable energy projects of Adani group

Sri Lanka's investment promotion body has approved two renewable energy projects of India's Adani group to be set up in the north and eastern regions of the island nation at a total investment of USD 442 million. The wind power plant in Mannar will operate at a capacity of 250 MW (megawatt) while the wind power plant in Pooneryn will operate at a capacity of 100 MW. The Board of Investment of Sri Lanka has issued a letter of approval to India's Adani Green Energy Limited, for the two wind power plants to be set up in Mannar and Pooneryn at a total investment of USD 442 million," a release said on Thursday. The two wind power plants of 350 MW are scheduled to be commissioned in two years and they will be added to the national grid by 2025. The new project will generate 1500-2000 new employment opportunities. Early this week, the Adani Group representatives met the minister of Energy Kanchana Wijesekara to check on the progress of the two projects. This was the first official meeti

from Markets https://ift.tt/7RP4gx1

Thursday, 23 February 2023

Mahindra CIE rallies 9% to hit 52-week high on positive demand outlook

Overall positive performance in Q4, supported by growth and solid profitability in India, and big commercial efforts in Europe will help offset huge cost increases, said analysts

from Markets https://ift.tt/OZaMb3L

PolicyBazaar hits over 5-month high; surges 30% thus far in February

The company expects adjusted EBITDA to turn positive in current quarter (Q4FY23).

from Markets https://ift.tt/zLHC5tc

Stocks to watch: Axis Bank, Zee Ent, SpiceJet, RIL, Bharat Forge, Alkem Lab

Stocks to watch: Zee Entertainment has been barred from the futures and options (F&O) segment of the NSE; Olectra Greentech has developed a hydrogen bus in technical partnership with Reliance Ind

from Markets https://ift.tt/GHpTwqL

Trading strategies for Bata India and Alembic Pharma by Mehul Kothari

BATA INDIA has been correcting from 1,950 without any meaningful bounce

from Markets https://ift.tt/lLgeBFn

Companies disclosing ESG data report nearly 15% increase in scores

According to a report by CareEdge Research, ESG reporting by Indian corporates has improved by 160 per cent

from Markets https://ift.tt/7E6pDV5

Shipping Corporation soars 9% amid reports of approval to demerger plan

As per reports, the Ministry of Corporate Affairs has approved the revised demerger plan of Shipping Corporation of India, wherein Rs 1,000 crore will be transferred to the non-core assets

from Markets https://ift.tt/TbD1viJ

Wednesday, 22 February 2023

HG Infra rises 4% on Rs 535 cr-order win from RVNL; stock up 30% in 3 mths

As per analysts at Centrum Broking, the stock of HG Infra has headroom to re-rate as the company is continuing to deliver on growth and monetisation targets

from Markets https://ift.tt/Y2nbgoz

Sandur Manganese zooms 11% on approval to increase production

Sandur Manganese plans to start the operations at enhanced level of production from the next financial year

from Markets https://ift.tt/hvwZ2f8

Gold prices unchanged, silver rises; yellow metal selling at Rs 56,730

The price of ten grams of 24 carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 56,730

from Markets https://ift.tt/NeuopTn

Stocks to Watch: Adani Green, Sonata Software, HG Infra, Zee Entertainment

Stocks to Watch: NCLT has admitted IndusInd Bank's Insolvency Plea against Zee Entertainment; Sri Lanka's Board of Investment have approved two wind power plants by Adani Green Energy

from Markets https://ift.tt/JWhVr6A

Tuesday, 21 February 2023

Adani group shares extend fall; Adani Total Gas tanks 79% in one month

Adani Power (Rs 162.60), Adani Transmission (Rs 788.75), Adani Total Gas (Rs 834.95), Adani Green Energy (Rs 539.30) and Adani Wilmar (Rs 390.35) were locked at 5 per cent lower circuit today

from Markets https://ift.tt/qHFicms

Silver remains unchanged, gold prices fall by Rs 100 to Rs 56,730 per 10 gm

The price of ten grams of 24 carat gold in Delhi, Bengaluru, and Chennai is Rs 56,880, Rs 56,780, and Rs 57,550, respectively

from Markets https://ift.tt/Qlb6uRm

Stocks to Watch: M&M, Reliance, Sapphire Foods, CE Info, BEL, Hind Zinc

Stocks to Watch: M&M has entered into an asset transfer agreement for certain identified assets related to four-wheeler passenger electric vehicles with Mahindra Electric Automobile

from Markets https://ift.tt/funUeY4

Charts show range-bound pattern for Nifty FMCG, Auto indices: Ravi Nathani

According to the technical analyst, charts suggest range-bound pattern for Nifty FMCG, Nifty Metal, and Nifty Auto indices in the near-term

from Markets https://ift.tt/Qg9JvNS

Indian jeweller Joyalukkas drops public listing plan, withdraws $278 mn IPO

Joyalukkas, which focuses mainly on Southern India, is the latest to delay or pull its IPO plans amid market volatility and stubbornly high inflation

from Markets https://ift.tt/1yDQa5t

Monday, 20 February 2023

Power stocks surge as govt orders coal-based plants to run at full capacity

The government has invoked emergency powers under Section 11 of the Electricity Act to impose the rule as it expects record surge in power demand this summer

from Markets https://ift.tt/Cf78hkQ

Marine Electricals rallies 5% after it bags order from Goa Shipyard

The company will supply shaft generators, main switch boards, distribution boards, and associated systems with OBS for PCV Project from Goa Shipyard

from Markets https://ift.tt/kca5VDj

Sebi issues consultation paper on disclosure requirements for listed firms

Capital markets regulator Sebi on Monday came out with a consultation paper on streamlining disclosure requirements by listed entities. In its consultation paper, Sebi is looking to address the challenges faced with regard to submission of the financial result for the first time by newly listed firms and related to timeline to fill up vacancy of directors, Compliance Officer, Chief Executive Officer (CEO) and Chief Financial Officer (CFO) in listed entities. Also, it is looking to address the issue of freezing of demat accounts of the Managing Director, Whole-time director and CEO of a listed entity for continuing non-compliance with the LODR Regulations or non-payment of fines by a listed entity. In order to provide adequate time to newly-listed entities to disclose their first financial results post-listing, Sebi has proposed that at least 15 days from the date of listing may be provided for such disclosures to newly-listed entities. "Listed entity, post listing, shall submit its

from Markets https://ift.tt/BidKRvG

Adani Group stocks decline amid reports of ESG funds dumping stake

The report released by Hindenburg Research had accused Adani firms of brazen stock manipulation, accounting fraud, and use of extreme leverage, spelling danger for its creditors

from Markets https://ift.tt/YjvJ3W0

Cera Sanitaryware soars 8%, hits new high in weak market on healthy outlook

In past one month, the stock price of Cera has outperformed the market by surging 20 per cent as against an unmoved S&P BSE Sensex.

from Markets https://ift.tt/z21D8hc

Lumax Auto soars 12% as it acquires majority stake in IAC Group's India biz

IAC India is a well-established Tier-1 interior systems and components supplier to key automotive OEMs in India including Mahindra, Maruti Suzuki, Volkswagen and Volvo Eicher Commercial Vehicles.

from Markets https://ift.tt/JW9ojBU