Mumbai: Life Insurance Corporation of India (LIC), the country’s largest insurer, has received approval from the Reserve Bank of India (RBI) to increase its stake in HDFC Bank, the largest private lender in India. RBI has allowed LIC to acquire an additional 4.8% stake in HDFC Bank, raising its total stake to 9.99% by January … Read more
Raamdeo Agrawal, Chairman & Co-founder, Motilal Oswal Group, says “the capital market was extremely strong over October and November. September was very good. October was somewhat weaker. November picked up, but December was out of the charts and January is even better than December. So, momentum is picking up, as we come closer to budget … Read more
Exactly on this day a year ago, the Indian stock market had woken up to an explosive report from a hitherto unknown entity on Dalal Street. Before investors could finish reading the summary of the 106-page Hindenburg report, Adani stocks started falling like ninepins.In next seven trading sessions, as the issue erupted into a major … Read more
India’s stock market has overtaken Hong Kong’s for the first time in another feat for the South Asian nation whose growth prospects and policy reforms have made it an investor darling.The combined value of shares listed on Indian exchanges reached $4.33 trillion as of Monday’s close, versus $4.29 trillion for Hong Kong, according to data … Read more
After rallying over 20% in the year 2023, Nifty50 continued its momentum in 2024 as it quickly surpassed Mount 22,000 to hit a fresh record high of 22,124 on January 16, 2024.However, weak domestic and global cues led to some profit-taking in the run-up to the Budget 2024 which increased volatility. However, experts believe that … Read more
Anshul Saigal, Founder, Saigal Capital, says “one should really focus on bottom-up opportunities, not worry about the market levels, market direction. As long as we have got good companies at reasonable valuations in our portfolios, over the long term, we will be very well-placed. And there is a lot of money to be made in … Read more
Brokerage firm Citigroup downgraded RIL to neutral, BofA Securities maintained a buy on UltraTech Cements, Morgan Stanley remained underweight on RBL Bank and Equal Weight on HUL. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Citigroup on RIL: Neutral | Target Rs 2910 Citigroup downgraded RIL post … Read more
The Indian market opened trade higher on Saturday tracking positive global cues overnight. The Nifty future closed positive with gains of 0.69% at 21675 levels. India VIX was down by 1.35% from 14.07 to 13.88 levels. Volatility cooled off after spiking to higher zones during the week. Positive setup was seen in stocks like Aarti … Read more
Stating that the Modi government’s commitment to cut fiscal deficit to 4.5% of GDP by FY26 limits the total expenditure growth to about 8% YoY, global investment banking firm Jefferies on Thursday said a potential slowdown in capex in the interim Budget can disappoint investors. “The central government capex has tripled over the last five … Read more
India’s largest lender and index heavyweight HDFC Bank engineered a 4.7% or 2,145 points fall in Nifty Bank which was its worst decline since March 2022. The stock fell 8.91% intraday, recording its biggest decline in percentage terms since May 20, 2020, when it had tanked 7.86%. All the 12 Nifty Bank constituents were trading … Read more
