Markets to focus on Q1 earnings, RBI interest rate this week: Analysts

The RBI interest rate decision, industrial production data for June and the ongoing quarterly earnings from corporates would largely drive the stock markets this week, analysts said. Other major factors such as global market trends, the movement of oil prices and the trading activity of foreign investors would also influence trading, they added. "The market will have an eye on the RBI Monetary Policy Committee (MPC) meeting, which will be announced on August 10, 2023. We are heading towards the last batch of Q2 earnings of key companies such as Adani Ports, Coal India, Hero MotoCorp, Hindalco and ONGC, among others, which will lead to stock-specific movement," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd. On the macro front, market participants will be closely observing key events like industrial production and manufacturing production data, which will be released on August 11, Gour said. Trend in global stock markets, movement of the dollar index, the rupee

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What drives shiny metal's price up or down, explains World Gold Council

During periods of turmoil, gold tends to make headlines as fans of the precious metal argue it can act as a safe haven. But is it also an inflation hedge? Is it considered a risk asset?

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BLS E-Services files draft papers with Sebi to garner funds via IPO

BLS E-Services Ltd has filed draft papers with capital markets regulator Sebi to mobilise funds through an initial public offering (IPO). The company is a subsidiary of BLS International Services Ltd, which offers visa and consular services. The IPO comprises a fresh issue of 2.41 crore equity shares with no offer for sale (OFS) component, according to the draft red herring prospectus (DRHP) filed on Friday. Proceeds of the issue will be utilized for strengthening technology infrastructure to develop new capabilities and consolidating existing platforms. In addition, fresh capital will be used for funding initiatives for organic growth by setting up BLS Stores, achieving inorganic growth through acquisitions, and general corporate purposes. BLS E-Services Ltd is a leading technology-enabled digital service provider, offering business correspondent services to major banks in India, assisted e-services; and e-governance services at grass root levels in India. The company provides a

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Gold price unchanged at Rs 59,950; silver price dips Rs 200 to Rs 74,800

The price of 22-carat gold was also unchanged at Rs 54,950

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SBFC IPO subscribed 6.3x on day 2, Concord Biotech IPO over half covered

At the top end, SBFC will be valued at Rs 6,066 crore on a post-dilution basis

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Zomato surges 14% as firm turns profitable for first-time in June quarter

Food aggregator platform company reported a consolidated profit after tax of Rs 2 crore compared to a loss of Rs 186 crore in the year-ago period.

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Stocks to Watch on Aug 4: SBI, Zomato, Paytm, Airtel, M&M, Vedanta, GAIL

Stocks to Watch today, August 4: 2023: Food aggregator platform Zomato turned profitable for the first time ever in Q1FY24

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IndusInd Bank: Adopt a bear spread strategy for the August expiry

Short build up seen in Indusind bank Futures on Thursday, with a 2 per cent addition in Open Interest (Prov) and price falling 1.21 per cent: HDFC Securities

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Ambuja Cements gains 1% on acquisition of Sanghi Industries for Rs 5,000 cr

ACL will acquire 56.74 per cent shares of SIL from its existing promoter group, Ravi Sanghi & family.

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Morgan Stanley upgrades India's rating to overweight, downgrades China

The brokerage firm added that it expects Sensex to reach 68,500 by the end of December this year

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Stock Market Live: Gift Nifty muted amid dull global cues; Airtel Q1 eyed

Stock market live updates: At 6:55 am, the Gift Nifty quoted 19,516 levels, down 80-odd points

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Sebi slaps Rs 30 lakh fine on 6 for indulging in non-genuine trades

Capital markets regulator Sebi has slapped fines totalling Rs 30 lakh on six entities for indulging in non-genuine trade in the illiquid stock options segment on the BSE. In six separate orders on Monday, the regulator imposed a fine of Rs 5 lakh each on Shrenil L Zaveri, Skyrail Logistics, New Star System Solutions, Seema Didwania, Saroj Devi Bajoria and Pawan Kumar Kejriwal HUF. The orders came after Sebi observed a large-scale reversal of trades in the illiquid stock options segment of BSE, leading to the creation of artificial volumes on the bourse. It conducted an investigation into the trading activities of certain entities engaged in the segment on BSE from April 2014 to September 2015. According to Sebi, these six entities were among those who indulged in the execution of reversal trades. The reversal trades are alleged to be non-genuine in nature as they are executed in the normal course of trading, which leads to a false or misleading appearance of trading in terms of ..

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Bikaji Foods hits 52-week high, jumps 5% as Q1 net soars 164%

The company posted a 164 per cent YoY surge in Q1FY24 net profit at Rs 41.40 crore, backed by a 15 per cent growth in revenue.

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Stock Market Live: Gift Nifty flat amid sour global cues; Titan Q1 eyed

Stock Market Live Updates: At 6:55 am, the Gift Nifty quoted 19,778 levels, down 33-odd points

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Nifty holding above key DMAs; to make new high on breakout from this hurdle

Nifty is bullish as it has been holding above 20,50 and 100 DMAs, says Vinay Rajani, gives buy calls on Voltamp and Kalyani Steels

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Sebi fines MSEI, its MD, CFO for flouting Securities Contracts rules

Capital markets regulator Sebi on Tuesday imposed a penalty totalling Rs 12 lakh on Metropolitan Stock Exchange of India Ltd (MSEI), its managing director Latika Kundu and HR head as well as chief financial officer Saket Bhansali for violating Securities Contracts rules. They have been directed to pay the fine within 45 days, the Securities and Exchange Board of India (Sebi) said in its order. In its order, Sebi found that MSEI during preparation of the books of accounts on a going concern basis failed to provide necessary projections in terms of Indian AS1 (Accounting Standard 1) and failed to seek relaxation regarding Key Management Personnel (KMP). Further, Kundu has failed to follow Standard Operating Procedure (SOP) while appointing employees, failed to designate a few employees as KMP and gave clean chit to the exchange's two officials -- Kundan Zamvar and Kunal Sanghavi, even after knowing the fact that their names were highlighted in anomalies concerning mismanagement in ...

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Stocks to Watch on Aug 1: Adani Total, PVR Inox, Maruti, ITC, SBI, autos

Stocks to Watch on Tuesday, August 1, 2023: The Board of ITC will meet on August 14 to announce Q1FY24 results, and consider the Scheme of Arrangement for the demerger of Hotels Business

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Stock Market Live: US, Asia-Pacific indices trade higher; Brent at $85/bbl

Stock Market Live Updates: At 6:55 am, the Gift Nifty quoted around 19,892 levels, up 49-odd points

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German data watchdog probing Worldcoin crypto project, says official

Worldcoin, which launched last week, requires users to give their iris scans in exchange for a digital ID and, in some countries, free cryptocurrency as part of plans to create a new identity

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Societe Generale buys Bandhan Bank shares for Rs 382 cr at Rs 218.60 apiece

Financial services company Societe Generale on Monday bought shares of private lender Bandhan Bank for Rs 382 crore through open market transactions. According to the bulk deal data available with the BSE and National Stock Exchange (NSE), Societe Generale purchased 85.51 lakh shares on the BSE and 89.23 lakh shares on the NSE. The shares were acquired at an average price of Rs 218.60 apiece on both bourses, taking the combined transaction size to Rs 382 crore. Details of the sellers could not be ascertained. Shares of Bandhan Bank rose 3.22 per cent to close at Rs 224.10 on the NSE and gained 2.88 per cent to settle at Rs 223.30 on BSE. In a separate transaction, Plutus Wealth Management acquired 22.10 lakh shares of Eris Lifesciences for Rs 173 crore through open-market transactions. Plutus Wealth Management bought a total of 22.10 lakh shares in two tranches, as per the data available with the NSE. The shares were purchased in the range of Rs 783-783.03 per piece, taking the

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Gold, silver prices unchanged, yellow metal trading at Rs 60,380 per 10g

The price of 22-carat gold remained unchanged and the yellow metal is selling at Rs 55,350

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Five-Star Business Finance zooms nearly 20% on strong Q1 show

The stock has now rallied 83 per cent from its IPO price of Rs 474 per share in less than nine months.

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Power Grid hits record high as it emerges successful bidder for 2 projects

Power Grid's board also approved proposal to raise up to Rs 5,700 crore through issuance of bonds on a private placement basis in multiple tranches in 2023-24

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Power Mech zooms 20% on securing mega mine development contract from SAIL

The company has bagged a Mine Development and Operation (MD) project for an estimated value of Rs 30,438 crore from SAIL, and the duration of the contract is 28 years.

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Stock Market LIVE: Asia-Pacific indices trade higher; Brent at $84/bbl

Stock market live updates: At 7:05 am, the Gift Nifty quoted 19,784 levels, up 33-odd points

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Sebi bans Excel Realty N Infra, 4 others from securities mkt for upto 2 yrs

Sebi has barred five entities, including Excel Realty N Infra and its promoters, from the securities market for up to two years and levied a fine totalling Rs 1.75 crore on them for being involved in a fraudulent scheme of misrepresenting the company's financial statements. The barred entities are promoters of listed entity Excel Realty N Infra (Excel) -- Lakhmendra Chamanlal Khurana (Chairman & MD of Excel), Ranjana Khurana Lakhmendra and Arpit Lakhmendra Khurana -- and Pramod Yeshwant Kokate who was chief financial officer of Excel. On the basis of a complaint received by Sebi, the markets watchdog conducted a detailed examination into the affairs of Excel Realty N Infra for the period from April 2016 to March 2021. In its examination, Sebi found that the transactions executed by Excel with 24 seller parties amounting to around Rs 119 crore constituting approximately 66 per cent of the total assets of Excel from FY 2016-17 to 2020-21, were misrepresented in the balance sheet of .

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BankBazaar.com hopes to breakeven this fiscal, to file DRHP for IPO next yr

Fintech firm BankBazaar.com expects its bottomline to turn positive this financial year helped by newer products including co-branded credit cards on UPI. Post breakeven, the company would start the preparation for listing and hopes to file the Draft Red Herring Prospectus for initial public offering (IPO) in the next financial year, BankBazaar.com founder and CEO Adhil Shetty told PTI. The company which started off as a loan comparison platform in 2008, is now majorly into co-branded credit card space, issuing such cards in association with banks. The company expects to soon launch co-branded credit cards on UPI, he said, adding that this is going to accelerate revenue as demand for credit is high. Besides, he said, targeted no-cost EMIs every month are going to add to topline and the company is set to push revenue to over Rs 250 crore in FY24 with profit. During the first quarter, the company posted a 51 per cent increase in revenue driven by its portfolio of co-branded credit c

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Hybrid schemes gain traction; attract Rs 14,000 cr in June qtr after change

After witnessing incessant outflow for three consecutive quarters, hybrid mutual fund schemes have caught investors' fancy and attracted over Rs 14,000 crore for three months ended June, following a recent change in taxation for debt funds. This was way higher than the Rs 10,084 crore inflow seen in hybrid schemes in the April-June quarter of 2022, data from the Association of Mutual Funds in India (Amfi) showed. In addition, the asset base of hybrid funds and investors' account or folio numbers of such schemes increased in the quarter under review. Hybrid funds are mutual fund schemes that typically invest in a combination of equity and debt securities and sometimes in other asset categories such as gold. These funds appeal more to investors with a moderate or low-risk profile. Hybrid funds are good investment options as they reduce the volatility associated when participating in equity markets while simultaneously providing stability in the fixed-income market. Going by the data

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