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Tracking global cues, Indian shares may open with caution

August 3, 2021 08:22

Tracking global cues, the stock market in India is also likely to open weak. After a couple of days of rallies in the global market, investors have turned cautious due to the increasing spread of the Delta Coronavirus in Asia and the US. The Nifty futures trading in the Singapore market is trading down by […]

Illegal ITC: Two more arrested for involvement in a statewide multicrore scam

August 2, 2021 21:47

Investigation wing of the Gujarat Goods and Services Tax (State GST) department have arrested mastermind and one more person in connection with last month’s bogus billing and illegal input tax credit (ITC) scam that has its roots in Bhavnagar. With these two, the total number of persons arrested in the case stands at nine. As […]

Stocks move higher on news indicating strong economic recovery

August 2, 2021 18:00

The first trading day of the month was profitable for the investors as the stock market, buoyed by series of positive news, closed with gains. Investor sentiment was bullish as auto sales numbers, recovery in PMI index and tax collections indicated strong recovery underway in the country’s economy. At the close, the Sensex was up […]

Profit booking in the last hour of trade erases gains in Nifty, Sensex

July 30, 2021 19:19

Under the shadow of declines in the Asian market and subdued European markets, for most of the day, Indian shares were outperforming their global peers. However, profit-booking in the last hour of trade erased all gains. Profit booking was amplified in the index heavyweights Reliance, TCS and Tata Steel. At the close, Sensex fell 66.23 […]

Ouch. Indians have been compelled to sell over 111 tonnes of gold during Covid to cover personal expenses

July 30, 2021 11:05

It seems that the aftermath of the Covid19 pandemic on Indian households is still unfolding. Slump in economic activity, restrictions on working conditions and increasing layoffs and unemployment has devasted family income resulting in large scale selling of families’ physical gold holdings. Indians, mostly middle class have reportedly sold 111 tonnes of their physical gold […]

Indian shares likely to open down on weak cues from Asia

July 30, 2021 08:21

After a bounce-back on Thursday, the Indian stock market is expected to open with declines on Friday on weakness in global markets. Continued selling by foreign portfolio investors (FPI) will also weigh on the sentiments. Meanwhile, if benchmark indices end with declines today it will be the second consecutive weekly decline for the market. Nifty […]

US stocks closes at record, Asian Stocks trading in the red

July 30, 2021 08:10

Stocks in most of Asia are trading down after a relief rally on Thursday. The US stock index futures, open for trade on Friday are down or lower than expected Amazon earnings. The e-commerce giant also warned investors about lower-income and profit growth going forward. Japan’s Nikkei 225 dipped 1.2% in early trade, while the […]

Aggressive domestic funds buying breaks three-day losing streak for Indian shares

July 29, 2021 19:39

Indian stock market ended in the green after three days of declines primarily lead by index heavyweights and metals shares. Positive global cues from China and the US Federal Reserve also supported the sentiments. Aggressive buying by domestic funds also helped lift the market. The foreign portfolio investors continued to sell in the cash market […]

Indian shares to open firm on derivatives expiry day

July 29, 2021 08:35

The Indian stock market is expected to open firmer on the back of positive Asian cues. However, the market movement will be more stock-specific and broader moves are likely to be volatile due to the July series expiry day in the derivatives segment. After three days of losses, the market in Asia is witnessing a […]

Fed, China move brings relief for Asian Markets

July 29, 2021 08:24

Stock markets are slowly getting back to normalcy after Federal Reserve assured that the rise in interest rates is way away while the Chinese authorities also tried to soothe fears. Hang Seng in Hong Kong opened 2% higher after three days of declines. The stock markets in the mainland also recoded gains, with the Shanghai […]

SEBI fines Raj Kundra, Shilpa Shetty in insider trading case

July 28, 2021 21:36

It seems that troubles are mounting for Raju Kundra and his wife Shilpa Shetty from all sides. After the arrest of businessman Kundra in a pornography case, the stock market regulator on Wednesday fined Kundra his wife and actor Shilpa Shetty in a 2015 case of insider trading in a listed company named Viaan Industries […]

Four Funds with 7 billion dollars and a Gujarat Connection

July 28, 2021 20:51

Four funds that have a large investment in India’s second richest Gautam Adani-promoted firms have a history of investing in the companies that have defaulted on repayment to bank. The opposition has demanded an investigation for alleged round-tripping. These funds are also among the largest foreign shareholders in Winsome Diamonds and Jewellery Ltd., Sterling Biotech […]

Indian shares bounce back but close with losses for the third straight session

July 28, 2021 19:28

Mirroring Asian peers, the Indian stock market closed in the red for a third straight session. However, bargain hunting and a couple of index heavyweights reversing their losses during the session helped sharp bounce back in the market from day’s low. The benchmark Sensex and Nifty opened weak and continued to their slide on heavy […]

Covid-19 Impact on MSME: Measures by Government inadequate, need a larger economic package

July 27, 2021 17:52

Measures announced by the government to give relief to micro, small and medium enterprises (MSME) to thwart the impact of the Covid-19 pandemic on their businesses are inadequate, a parliamentary panel has concluded. A standing committee report (Impact of Covid-19 Pandemic on MSME Sector and Mitigation Strategy Adopted to Counter It) was submitted by the […]

Diving towards a safety net: Covid-19 driving demand for insurance; claims mount, premiums skyrocket

July 24, 2021 17:17

“Sorry, I cannot help you. We have got the approval as per the rates fixed by the municipal corporation. I can not change the room charges as requested,” a hospital staff member tells a lady who is being discharged after 14 days of Covid-19 treatment. “But, my problem is I am allowed room charges only […]

Billionaire Musk wants Tesla on Indian road, high taxes a major hurdle

July 24, 2021 13:16

Tesla Inc is eyeing Indian grounds to set up a factory, only if taxes don’t play a spoilsport. Chief Executive Elon Musk took to Twitter and expressed his thoughts when quizzed on launching Tesla cars in India. The company has written to Indian ministries seeking a reduction in import duties on electric vehicles (EV). Second […]

RIL reports strong growth in June quarter earnings on the back of Jio, Oil business

July 23, 2021 20:40

Despite slowing down of operations during the second wave of Covid19, Reliance Industries Limited on Friday reporter strong performance when compared on yearly basis. However, quarter on quarter the performance seems to be affected by the pandemic disruptions. The overall performance of the company was dominated by better than expected oil refining petrochemicals and telecom […]

Amazon and Flipkart to face CCI probe on preferential treatment

July 23, 2021 11:38

Online majors – Flipkart and Amazon – will have to go through investigations by the Competition Commission of India (CCI), a division bench of the Karnataka High Court ordered. The petition was moved by e-commerce majors against the single judge bench order that held the investigation into business practices of the two companies by the […]

Zomato becomes 45th most valued company in India; makes a stellar debut

July 23, 2021 10:55

Technology-driven food delivery start-up, Zomato is making its debut on the stock exchanges on Monday. The response to its Rs 9,375 crore fundraising had already indicated investors’ interest in the newer business model, despite concerns surrounding its valuations and profitability. The shares are listed at Rs115. At 10.08 am on Friday, shares are trading at […]

On the back of positive global cues, Sensex & Nifty registers the biggest gain in two months

July 22, 2021 17:10

After three straight sessions of losses, the Indian stock market bounced back on Thursday on positive global cues with the best gains in two months. Positive global stocks, cooling crude oil and buying after a small correction were the triggers for change in the trend at the beginning of the week. Short covering in index […]