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Business News/ Markets / Live Blog/  Indices close flat; HDFC Life, Tata Motors shine; ICICI and Nestle drag

Indices close flat; HDFC Life, Tata Motors shine; ICICI and Nestle drag

Share Market Close: Indian stock markets ended the day in the flat territory. Sensex and Nifty closed with marginal gains with Media, Auto and Realty climbing, while FMCG and Bank shedding. Tata Motors and HDFC Life add 2%.

Stock Market Today: Rate hike worries subside among investors (MINT_PRINT)Premium
Stock Market Today: Rate hike worries subside among investors (MINT_PRINT)

Global stocks had a mixed day with Tokyo and Hong Kong shedding but Mainland China gaining. Europe was trading flat in the morning session. With US markets shut for holidays, domestic issues moved the markets.

25 Nov 2022, 03:40:33 PM IST

Indices remain flat with Sensex and Nifty closing with marginal gains of 20 and 14 points, respectively.

Indian investors chose to apply caution on Friday with indices ending the day flat after scaling new highs on Thursday. With US markets shut for holidays, investors did not have global cues to anchor their sentiments.

Sensex ended with a minor gain of 20 points at 62,293, while Nifty closed just below 18,500, at 18,497, a gain of 14 points.

PSU Bank started the day great but ended flat. FMCG and Bank indices dragged. Media, Auto and Realty indices gained the most in today's session.

Among stocks, Tata Motors, HDFC Life, Hero MotoCorps and Coal India topped the charts. ICICI Bank lagged the most followed by Nestle India and Kotak Bank.

Global stock markets had a mixed day with many indices showing optimism with regard to future rate hikes but a lack of solid global cues kept investors on their toes.

Japan's Nikkei ended lower on Friday, after hitting a more than two-month high in the last session, as investors sold heavyweight chip-related and growth stocks that had gained. The Nikkei fell 0.35% and gained 1.37% for the week.

China stocks rose on Friday, boosted by property developers after the country's latest measures to support the beleaguered sector. Hong Kong shares tumbled as China reported record-high new daily COVID-19 cases.

The blue-chip CSI 300 Index rose 0.5% at close, while the Shanghai Composite Index added 0.4%. However, Hong Kong's Hang Seng Index finished down 0.5%, while the Hang Seng China Enterprises Index declined 0.4%.

European stock markets steadied at the start of trading Friday following a mixed showing in Asia. London's benchmark FTSE 100 index edged up markedly. In the eurozone, Frankfurt's DAX index Paris CAC 40 remained flat.

Sensex at Close
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Sensex at Close
25 Nov 2022, 03:25:14 PM IST

HDFC Life among top gainers in today's session; adds 2%

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25 Nov 2022, 03:19:11 PM IST

Adani Enterprises to raise funds in tune of ₹20,000 cr via FPO

Adani Enterprises on Friday said that the company's board of directors have approved fund raising amounting to 20,000 crore through further public offering.

"We wish to inform that the board of directors of the Company (the “Board"), at its meeting held today, i.e. 25th November 2022, has approved raising of funds by way of a further public offering through a fresh issue of Equity Shares by the Company aggregating up to 20,000 Crore," the company said in its filing. (Read More)

25 Nov 2022, 02:59:11 PM IST

Circular economy to be given thrust during India's G20 presidency: Amitabh Kant

G20 Sherpa Amitabh Kant has said that the long-term low-emission development strategy by India for achieving the climate goals and the need for sustainable production, emphasizing Sustainable Development Goals highlights that the country looks at alternative paradigms of production and consumption to achieve sustainable material and wellbeing of society.

Addressing the sixth edition of the FICCI Circular Economy Symposium 2022, Kant on Thursday said there is a higher level of awareness today in government, institutions and corporates regarding the circular economy.

"During our G-20 presidency, we will lay huge emphasis in providing thrust to circular economy agenda for developing consensus on key issues. G20 provides opportunities by accelerating circular transition and FICCI will need to play the effective role in very many deliberations under G20," Kant was quoted as saying in a FICCI statement. (ANI)

25 Nov 2022, 02:41:16 PM IST

Twitter to launch ‘Verified’ service next week: Elon Musk

-witter will tentatively launch its blue check subscription feature next Friday, Chief Executive Officer Elon Musk said in a tweet, after holding off on the launch earlier this week.

The social media platform will use different color checks for organizations and individuals, Musk said.

"Gold check for companies, grey check for governments, blue for individuals (celebrities or not). Painful, but necessary," Musk said in a tweet.

All verified accounts will be manually authenticated before the check is activated, Musk said. (Reuters)

25 Nov 2022, 02:28:07 PM IST

Indian startups see rise in VC deal volumes in Jan-Oct; funding value dips: Report

The Indian startup ecosystem saw a 7.5% year-on-year rise in number of venture capital deals during January-October, but the total value of these deals declined 29.8% y-o-y during the period under review, as per a report.

According to an analysis by London-based management consultancy GlobalData, Indian startups raised $19.3 billion across 1,456 deals in venture capital (VC) between January and October, against $27.5 billion across 1,355 deals in this period. (Read More)

25 Nov 2022, 02:09:50 PM IST

Retail inflationary pressures expected to ease with fresh kharif arrivals: Finance Ministry

The current retail inflationary pressures are expected to ease with fresh kharif arrivals and a pass-through of lower input costs to consumers - also affirmed by RBI's inflation projections for the next two quarters, the monthly economic review for October compiled by the department of economic affairs said.

On inflation, the report by the department of economic affairs said domestic prices of some food items have gone up in the wake of the rise in international prices. India's grain availability was impacted by the untimely heatwaves and deficiency of the southwest monsoon in the current year. However, export restrictions have ensured that the country's needs are fully met. (ANI)

25 Nov 2022, 02:08:14 PM IST

Budget 2023-24: Sitharaman meets state finance ministers for their inputs

Union Finance Minister Nirmala Sitharman has chaired a pre-Budget meeting with the finance ministers of all States and Union Territories for taking their inputs and suggestions for the upcoming Budget for 2023-24.

The meeting took place on Friday here in the national capital.

Besides Sitharaman and state/UT finance ministers, Union MoS for Finance Pankaj Chaudhary and Bhagwat Karad, secretaries from various arms of Union finance ministry, Chief Economic Advisor Anantha Nageswaran, among others attended the meeting. (ANI)

25 Nov 2022, 01:44:26 PM IST

Sebi comes out with uniform format for reporting OTC trades in non-convertible securities

Capital markets regulator Sebi on Friday came out with a uniform format for reporting over-the-counter (OTC) trades in listed non-convertible securities.

The development comes after Sebi observed that information on OTC trades in listed non-convertible securities provided to the stock exchanges by the investors is incomplete and inaccurate.

This, in turn, amounts to incorrect and distorted information being displayed on the exchanges' websites.

"In order to address the issue, it has been decided all OTC trades shall be reported in a uniform format," the Securities and Exchange Board of India (Sebi) said in a circular. (PTI)

25 Nov 2022, 01:13:17 PM IST

Nestle India drags the FMCG index; sheds more than a per cent

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25 Nov 2022, 01:11:37 PM IST

India's Adani to invest $4 billion in petrochemical complex - FT

Indian billionaire Gautam Adani is planning to invest more than $4 billion in a petrochemical complex in the state of Gujarat, he said in an interview with the Financial Times on Friday.

Adani, Asia's richest person, plans to launch a "super app" in the next three to six months to connect Adani airport passengers with other Adani Group services, according to the report. (Reuters)

25 Nov 2022, 01:04:15 PM IST

Govt considers selling stakes in Coal India, Hindustan Zinc, Rashtriya Chemicals

India plans to sell small stakes in state-run firms including the world’s biggest coal miner and Asia’s largest zinc producer, to ride a stock market boom and boost revenue in the final quarter of the financial year, according to people familiar with the matter.

The government is looking to sell 5%-10% in Coal India Ltd., Hindustan Zinc Ltd., Rashtriya Chemicals and Fertilizers Ltd. via the so-called offer-for-sale mechanism, the people said, asking not to be identified as the details aren’t yet public. In all, five firms could be chosen, including a listed entity under the railway ministry, they added. (Read More)

25 Nov 2022, 12:44:51 PM IST

Prabhudas Lilladher recommendations on Astral, L&T and KPIT Tech

Astral: BUY with CMP: 1883 TRGT: 2080 SL: 1800

The stock has been in consolidation phase for some time moving in a very narrow range near 1880 levels and now has given a positive candle with 78.6% retracement support around 1810 levels. The RSI indicator also has flattened out and has indicated improvement from its highly oversold zone. With the risk reward ratio favourable, we recommend a positional buy in this stock for an upside target of 2080 keeping a stop loss of 1800.

L&T: BUY with CMP: 2060 TRGT: 2200 SL: 1980

The stock has made a good spurt with a decent volume and has given a breakout from its consolidation period. The RSI indicator has also given a Buy signal by reversing its trend. The support is strong at around 1980 levels. So we recommend a buy in this stock keeping a stop loss of 1980 for an upside target of 2200.

KPIT Tech: BUY with CMP: 720 TRGT: 800 SL: 680

The stock has made high bottom formation and is now heading towards the previous peak of 745 and a breakout can be anticipated to reach the target of around 800 levels. The RSI indicator has been on the rise and also with decent volume, we recommend a buy in this stock for an upside target of 800 keeping a stop loss of 680.

25 Nov 2022, 12:29:05 PM IST

SafeGold partners DMCC to use gold-backed digital assets

SafeGold, a digital gold platform, has signed an MoU with Dubai Multi Commodities Centre (DMCC), to advance SafeGold’s vision of digitising gold investment and enabling a digital ecosystem to flourish in the Middle East and North Africa region’s $20 billion gold market. (Read More)

25 Nov 2022, 12:27:10 PM IST

Dollar set for weekly loss as investors brace for slower Fed rises

The U.S. dollar stood close to a three-month low and was headed for a weekly loss on Friday, as the prospect of the Federal Reserve slowing monetary policy tightening as soon as December preoccupied investors and kept the mood buoyant.

Trading was thin overnight due to the Thanksgiving holiday in the United States, though a softer dollar remained in focus.

Sterling rose more than 0.5% overnight and last stood at $1.2103, close to its over three-month high of $1.2153 hit in the previous session and on track for a nearly 2% weekly gain.

The Aussie firmed to $0.6765 and was on track for a weekly gain of more than 1%. (Reuters)

25 Nov 2022, 12:02:22 PM IST

Noon Update: Indices are trading marginally lower at Thursday noon; Sensex sheds 150 pts and Nifty 30 

Sensex at Noon
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Sensex at Noon
25 Nov 2022, 11:55:12 AM IST

Multibagger stock gives over 103% return in 6 months since IPO. Brokerage raises target price

Venus Pipes and Tubes Ltd reported higher‐than‐expected EBITDA primarily due to higher volume and realisation. With new capacities Venus Pipes is set to become 2nd largest stainless steel manufacturer in India, as per brokerage Centrum which expects the company's volume to grow by 32% CAGR over FY22‐FY25E.

"The growth triggers like volume expansion, higher exports, import substitution, margin expansion etc will enable EBITDA/PAT increase by 46%/48% CAGR over FY22‐FY25E. Besides, the proposal to bring anti‐ dumping duty on imports of stainless steel products is being evaluated by DGTR, if imposed, could turn to be big positive for Venus Pipes," the brokerage said in a note. (Read More)

25 Nov 2022, 11:35:02 AM IST

Coal India among biggest gainers; adds 2%

Coal India
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Coal India
25 Nov 2022, 11:20:36 AM IST

Amazon refuses ‘unethical firings' allegation, calls resignations ‘voluntary’

E-commerce giant Amazon, which was summoned by the Labour Ministry on Tuesday in relation to its voluntary separation program (VSP), has reportedly said that the company has not sacked any employee, rather allowed those to go who opted for its recently introduced massive global layoff plan, according to a report quoted by The Economic Times.

This came after the Labour Ministry issued a notice to the online retailer on the complaint of Nascent Information Technology Employees Senate (NITES), which in a letter dated 19 November alleged that firings at Amazon India are unethical and illegal, and requested interference. (Read More)

25 Nov 2022, 11:13:45 AM IST

FMCG among the biggest laggards today; sheds more than 0.5% with most stocks in red

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25 Nov 2022, 11:04:42 AM IST

India Rate Setters Blame Global Factors in Inflation Letter

India’s interest-rate setters have mainly blamed global factors for failing to meet their inflation target, according to people with knowledge of a letter the monetary policy panel was obliged to write to the government.

The war in Ukraine and resultant spurts in energy and food costs, and supply disruptions caused by the pandemic are among main reasons cited, the people said, asking to stay unidentified as the correspondence is private. The detailed narrative doesn’t dwell much on the path forward, only stating that the worst of inflationary pressures are probably behind us, the people added.

Little is known about the contents of the letter sent earlier this month, after India’s consumer inflation topped the upper range of the 2%-6% band for three straight quarters. While the panel led by Reserve Bank of India Governor Shaktikanta Das was mandated by law to explain its failure in capping prices, the government isn’t required to make the information public. (Bloomberg)

25 Nov 2022, 10:53:05 AM IST

HDFC Bank elevates Kaizad Bharucha as Deputy MD, appoints Bhavesh Zaveri as ED

HDFC Bank has appointed Kaizad Bharucha as deputy managing director (MD), and Bhavesh Zaveri as its executive director (ED, the lender informed in an exchange filing on Thursday. HDFC Bank had sought the approval of the Reserve Bank of India's on these appointments, it further said in the regulatory filing. (Read More)

25 Nov 2022, 10:40:10 AM IST

Dharmaj Crop Guard IPO: GMP rises further ahead of issue opening on Monday

Amid the IPOs season, the three-day initial public offering of agrochemical company Dharmaj Crop Guard will open for public subscription on Monday, November 28, 2022 and conclude on Wednesday, November 30. The price band has been fixed in the range of 216–237 a share.

As per market observers, Dharmaj Crop Guard shares are available at a premium (GMP) of 58 in the grey market today, up from 45 in the previous session. The shares of the company are expected to list on the stock exchanges BSE and NSE on Thursday, December 8, 2022. (Read More)

25 Nov 2022, 10:13:40 AM IST

Punjab National Bank (PNB) reaches a 52-week high  

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25 Nov 2022, 10:10:10 AM IST

Ashika Stock Broking on today's market: Wiser to hunt for lower level at 18380-18400 for initiating long positions

Tirthankar Das, technical & derivative analyst, retail, Ashika Stock Broking: On the technical front, Nifty formed a long bull candle on the daily time frame and with the presence on higher high-low formation, a bullish overtone in the market is likely to remain. It is at that phase where a prolonged consolidation might be in the making and forming a higher base, setting itself equipped to eye the sought-after level of 18900 in the near term. After yesterday's rally it can be established that the market has halted its slide taking support from its 20dma and the lower area of the gap-up region and 18050-18100 might be the elevated bottom for the market followed by 17950 which coincides with 23.6% retracement of the entire rally since Oct’22. However, the psychological level of 18000 would be the trend-deciding level for the market. A positive stance in the market would remain due to sharp reversals in the Dollar index, US yields have helped to taper down anxiety around further aggressive rate hike and drop in crude oil prices which is supportive for Indian Equities. Against that backdrop, the Index has also cooled off from its overbought price reading presently trading above the 60-level mark (14-period RSI). During the day, Nifty is likely to open on a flat to slightly positive note and from that perspective, it would be wiser to hunt for a lower level at 18380-18400 for initiating long positions for an upside target of 18900 followed by 19200.

25 Nov 2022, 10:05:30 AM IST

PSU Bank continues its stellar run on Friday; gains 2% with all stocks in green

PSU Bank
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PSU Bank
25 Nov 2022, 09:57:13 AM IST

Multibagger IPO: Mauritius-based FII buys stake in SME company after stock split in 1:5 ratio

Mauritius-based foreign institutional investor (FII) Vikasa India EIF Fund - Incub Global Opportunities has picked up a stake in Kshitij Polyline Ltd., a National Stock Exchange (NSE) listed entity. As per NSE data, it has purchased 6 lakh shares at a price of 41.43 per share via a bulk deal. This means the FII has invested 2,48,58,000 or 2.48 crore in this circuit-to-circuit SME stock. (Read More)

25 Nov 2022, 09:43:08 AM IST

L&T shines in early trade, gains more than 1.5%

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25 Nov 2022, 09:37:25 AM IST

Binance’s Crypto Rescue Plan Fails to Quell All the Fears of Post-FTX Contagion

Crypto mogul Changpeng “CZ" Zhao’s vow to set up a recovery fund of up to $2 billion to help cash-strapped startups failed to dispel all the sector’s contagion fears following the collapse of the FTX exchange.

In an interview Thursday with Bloomberg Television’s Haslinda Amin, Zhao gave more details on the deals his Binance Holdings Ltd. is examining in the wake of rival FTX’s bankruptcy. Key to Zhao’s plan is a fund with co-investors aimed at backing promising crypto projects facing a liquidity squeeze.

“We’re going with a loose approach where different industry players will contribute as they wish," he said, flagging a possible $1 billion for the fund. A later blog post explained the commitment could rise to $2 billion if needed. (Bloomberg)

25 Nov 2022, 09:26:14 AM IST

After leading the Thursday's rally, IT index comes under pressure early in the day

IT Index
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IT Index
25 Nov 2022, 09:24:06 AM IST

China’s Daily Covid Tally Tops 30,000 for First Time as Curbs Spread

China’s daily Covid infections broke through 30,000 for the first time ever as officials struggle to contain outbreaks that have triggered a growing number of restrictions across the country’s most important cities.

There were 31,987 new infections reported for Thursday, up from Wednesday’s record of 29,754. The southern city of Guangzhou reported more than 7,500, while cases in the metropolis of Chongqing topped 6,000. The capital, Beijing, saw daily infections exceed 1,800 with the record tally and lockdown-like restrictions sparking panic buying in parts of the capital.

The persistently high caseloads have weighed on equity markets. Key Chinese stock gauges in Hong Kong and on the mainland headed for a weekly decline, set to snap a three-week rally. (Bloomberg)

25 Nov 2022, 09:22:44 AM IST

Powergrid Corporation sheds at the start; drops a per cent

Powergrid Corporation
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Powergrid Corporation
25 Nov 2022, 09:21:32 AM IST

INDIA BONDS- Bond yields seen steady ahead of weekly debt sale

Indian government bond yields are expected to open steady on Friday as traders exercise caution and avoid taking large positions ahead of the weekly debt auction.

India's benchmark 10-year bond yield is likely to trade in a 7.25%-7.29% band after having ended one basis point (bps) lower at 7.2548% on Thursday.

U.S. markets were closed on Thursday for the Thanksgiving holiday and there hasn't been much overnight movement in oil prices, so the domestic markets will mostly look forward to government bond auctions for further cues, said a trader at a primary dealership.

New Delhi aims to raise 280 billion rupees ($3.43 billion) through the sale of bonds, including the benchmark 10-year paper, later in the day. (Reuters)

25 Nov 2022, 09:20:34 AM IST

Indices start the day flat with PGCL and BPCL dragging

Sensex at Open
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Sensex at Open
25 Nov 2022, 09:11:47 AM IST

Japan's Nikkei slips from 2-month high on selloff in chip stocks

Japan's Nikkei edged lower on Friday, as investors sold heavyweight chip-related stocks after the share average hit a more-than-two-month high in the last session, although hopes for slower interest rate hikes globally capped declines.

The Nikkei lost 0.34% to 28,286.94 by the midday break but it was set to rise 1.39% for the week. The broader Topix fell 0.13% to 2,016.23 and on course to post a 2.49% weekly gain.

"Investors sold shares for profit-taking today. That was seen in chip-related stocks, which were strong in the past few sessions," said Shuji Hosoi, senior strategist at Daiwa Securities.

"Overall the market was supported by hopes for slower hikes of the ECB, which sent Germany's 10-year bond yields lower." (PTI)

25 Nov 2022, 09:08:22 AM IST

Geojit Financial Services views on today's market: Market is unlikely to surge from the record highs since the valuation headwind will act as a restraint

Dr V K Vijayakumar, chief investment strategist at Geojit Financial Services: "Many favourable factors have come together to push the markets to record levels: the FOMC minutes indicating smaller rate increases, the sharp correction in crude, FIIs turning buyers, reports of impressive credit growth and capex revival and even the bad news of record Covid spread in China is turning out to be good news for India since it will accelerate the China Plus One policy. Nifty breaking the previous record high of 18,604 is only a question of time. The significant feature of this rally is that it is driven by heavyweights like HDFC Bank, ICICI Bank, HDFC, Infy, TCS, HCL Tech and RIL which have strong fundamentals and this makes the rally healthy. But the market is unlikely to surge from the record highs since the valuation headwind will act as a restraint.

Vast majority of retail investors, particularly the newbies, have missed out on this rally since their portfolios are largely mid-and small-cap oriented. As of now, the possibility of the rally spreading to the broader market is limited."

25 Nov 2022, 09:04:02 AM IST

Sensex is flat at the preopen session; SBI, PNB, Biocon will be in focus in today's session

Sensex at Preopen
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Sensex at Preopen
25 Nov 2022, 09:01:47 AM IST

Reliance Securities Stock in Focus for today: Wipro


WIPRO (CMP 398) - Wipro (WPRO) closed ~2.4% higher as against Nifty rising by ~1% yesterday: f In view of strong deal wins and attractive valuation, we have a BUY recommendation with a target price of Rs455, valuing the stock at a P/E multiple of 18.5x FY24E earnings.

Intraday Picks


For today’s trade, long position can be initiated in the range of 3080-3100 for the target of Rs.3150 with a strict stop loss of 3060.


For today’s trade, long position can be initiated in the range of 1950-1960 for the target of Rs.2010 with a strict stop loss of 1940.


For today’s trade, long position can be initiated in the range of 366-370 for the target of Rs.377 with a strict stop loss of 364.

25 Nov 2022, 08:55:13 AM IST

IEX share buyback decision to be taken in board meet today

Indian Energy Exchange's (IEX) board of directors is scheduled to meet today i.e., on Friday to consider the proposal for buyback of equity shares of the company. IEX shares are down more than 43% in 2022 (YTD) so far.

“A meeting of the Board of Directors of the Company is scheduled to be held on Friday, November 25, 2022, inter-alia, to consider a proposal for buyback of fully paid-up equity shares of the Company," the energy exchange had informed in an exchange filing earlier this month. (Read More)

25 Nov 2022, 08:45:30 AM IST

PTC India net profit more than trebles to ₹157 cr in Jan-Mar quarter

Power trading solution provider PTC India's consolidated net profit more than trebled to 157.11 crore in the March 2022 quarter, mainly due to lower expenses.

The consolidated net profit of the company was 49.77 crore in the quarter ended March 31, 2021, a BSE filing showed.

Its total expenses dipped to 2,890.57 in the quarter from 3,792.56 crore a year ago.

The total income also declined to 3,107.04 crore in the quarter from 3,925.99 crore in the year-ago period.

Its consolidated net profit stood at 551.67 crore in 2021-22 compared to 457.62 crore in 2020-21. (PTI)

25 Nov 2022, 08:44:25 AM IST

Adani open offer: Nearly 28 lakh NDTV shares tendered by Day 3

Nearly 28 lakh shares were tendered by shareholders of NDTV under the Adani group’s open offer at the end of the third day on Thursday.

Adani group's open offer to acquire an additional 26 per cent stake in the media firm New Delhi Television (NDTV) started on Tuesday.

According to the data from BSE, a total of 27,72,159 NDTV shares amounting to 16.54 per cent of the offer size were tendered by the shareholders by 1600hrs on Thursday.

Adani's offer price is 294 per share, while NDTV shares settled at 368.40 on Thursday, which is 25.3 per cent higher compared to the offer price.

In the last three months, NDTV shares reached a high of 540.85 on September 5, 2022. (PTI)

25 Nov 2022, 08:28:52 AM IST

Stocks to Watch: SBI, Biocon, PNB, NDTV, PTC India, ZIM Lab, Manaksia, PVR, PTC India, Laurus Lab

Commercial Syn Bags, Dev Information Technology, Mafatlal Industries, and Maharashtra Seamless stocks will be in focus on November 25 as they will turn ex-split and ex-bonus on this day. These stocks are multi-baggers and have given hefty returns between 100% to 450% to their investors in the last 2 years. 3 of the stocks are small-caps, while one is midcap. (Read More)

25 Nov 2022, 08:26:32 AM IST

Bitcoin, ether, dogecoin, polygon other crypto prices today under pressure. Latest rates

In cryptocurrencies, the world's largest and most popular digital token Bitcoin's price today was trading over a per cent lower at $16,499. On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also fell by more than a per cent to $1,185.

The global cryptocurrency market cap today remained below the $1 trillion mark, as it was down in the last 24 hours to $864 billion, as per the data by CoinGecko. (Read More)

25 Nov 2022, 08:17:57 AM IST

Maharaja makeover: How Air India plans to groom its cabin crew

Tata group-owned Air India has issued new grooming rules for its cabin crew. Air India issued a circular of over 40 pages regarding the revised image and uniform guidelines, which clearly mentions criterions for both male and female crew members. The airline has directed all crew members to implement the uniform rules immediately.

"Air India is the only airline in the country which has been serving the world for many decades. Representations and images of its crew members are not as per international standards. The new management wants to change the perception of flyers," several crew members of the airline told ANI. (Read More)

25 Nov 2022, 08:12:18 AM IST

2 bonus issues, 2 stock splits: These multibaggers to be in focus today

Four stocks namely Commercial Syn Bags, Dev Information Technology, Mafatlal Industries, and Maharashtra Seamless will be in focus on November 25 as they will turn ex-split and ex-bonus on this day. These stocks are multi-baggers and have given hefty returns between 100% to 450% to their investors in the last 2 years. 3 of the stocks are small-caps, while one is midcap. On Thursday, these four stocks witnessed huge buying sentiments which led to gains between 2% to 7% during the day. Ex-date is one day prior to the record date of a company's corporate actions such as dividends, bonus issues, stock splits, and rights issues among others. (Read More)

25 Nov 2022, 07:56:25 AM IST

Buy or sell: Vaishali Parekh recommends 2 stocks to buy today

Vaishali Parekh of Prabhudas Lilladher has recommended 2 stocks to buy today. Here we list out details in regard to those shares:

1] Tata Consumer: Buy at 792, target 830, stop loss 777; and

2] M&M: Buy at 1254, target 1280, stop loss 1238. (Read More)

25 Nov 2022, 07:48:54 AM IST

Rupee likely to remain under pressure in 2023, say economists

The rupee is likely to remain under pressure next year and could even touch 85 against the US dollar, according to economists.

Since Russia invaded Ukraine in late February and the resultant spike in crude prices and supply chain disruptions, the rupee has been under tremendous pressure. The domestic currency had touched an all-time low of 83 against the dollar on October 19.

On Thursday, rupee gained 23 paise to close at 81.70 against the dollar.

During a panel discussion at the SBI Banking & Economic Conclave here on Thursday, various economists said the rupee will continue to be under pressure given the widening current account deficit which is seen close to 4 per cent of the GDP this fiscal.

There is also pressure on forex earning as exports began to fall since last month, they said and expect the rupee to trade between a high of 82 and a low of 85 to the dollar in 2023. (PTI)

25 Nov 2022, 07:47:58 AM IST

Adani Enterprises to mull fundraising today. What you need to know

Billionaire Gautam Adani-led conglomerate Adani Group's flagship firm Adani Enterprises' board of directors will meet today i.e., on Friday, November 25, 2022 to consider and approve the proposal of raising funds.

"A meeting of the board of directors of Adani Enterprises Limited will be held on Friday, 25th November at Ahmedabad, inter alia, to consider and approve the proposal of raising of funds by way of further public offering, preferential allotment (including a qualified institutions placement or through any other permissible mode) and/or combination thereof as may be considered appropriate, by way of issue of equity shares or any other eligible securities, subject to all such regulatory / statutory approvals as may be required including the approval of shareholders of the company," Adani Enterprises informed in an exchange filing earlier this week. (Read More)

25 Nov 2022, 07:47:09 AM IST

Multibagger stock hits record high after warrants issue at 10% discount

Shares of Hi-Tech Pipes Ltd are one of the multibagger stocks on Dalal Street that have given a strong upside bounce in a post-Covid rally in the last two and half years. This small-cap stock witnessed strong buying interest in previous session and climbed to a new lifetime high of 789 apiece on the NSE. Hi-Tech Pipes share price shot up on Thursday after the company's board nodded for issuance of fully convertible equity warrants at 692 apiece, a new 10 per cent below its current share price. (Read More)

25 Nov 2022, 07:33:16 AM IST

PE, VC industry wants govt to allow perpetual funds in India

The private equity and venture capital industry has urged the government to allow perpetual funds to operate in line with global standards in India. During a meeting with finance minister Nirmala Sitharaman, representatives of the Indian Venture and Alternate Capital Association (IVCA) said the Centre should announce some measures during the budget announcement for 2023-24 to bring in parity in taxation and allow blended finance models to operate with multiple funds of funds. (Read More)

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