By Bhavik Patel Oil price, which was relentlessly falling, saw some life back as short covering came since price was in oversold zone. Price were in downward frenzy after expectation of demand destruction from recession fears and lockdown in China due to rising Covid cases. Oil prices have been on…
Westlife Foodworld that (that owns and operates the master franchisee of fast food chain McDonald’s in West and South India) has released its growth vision for CY27 (FY28) after successfully achieving its Vision 2022. Among some of the key target is the sales target of Rs 4,000 crore-Rs 4,500 crore…
Abrdn Investment Management (formerly Standard Life Investments), one of the sponsors of HDFC Asset Management, plans to offload its entire 10.2% stake in the mutual fund house. The other sponsor is HDFC, which holds a 52.59% stake. The investment manager intends to place up to 21.11 million shares, totalling 9.9%…
By Subash Gangadharan While the Nifty has bounced back strongly on Monday and is holding above the 50 day SMA, it is now finding resistance at the 20 day SMA which is currently at 18050. Upside acceleration is likely in the coming week only once these 18050 levels are taken…
Indian benchmarks closed in red after a volatile session of trade amid weak global cues. The BSE Sensex closed over 200 points lower, at 62,626 while NSE Nifty settled 0.3% lower at 18,642. In the broader markets, the NSE MidCap 100 was down 0.46%, and the SmallCap index ended marginally…
Nearly 40% of the equity schemes launched this year by asset management companies have been thematic or sectoral funds. Fund houses have hit the market with a total of 109 equity new fund offerings this year, of which 40 are thematic or sectoral funds. Such funds have mopped up Rs…
By Shrikant Chouhan On Tuesday, the benchmark indices witnessed positive momentum. After a volatile trading session in the morning, the Nifty 50/ BSE Sensex took supports near 18100/60800 and reversed sharply. Among sectors, strong buying interest was seen in reality and metal stocks while selective private banks witnessed technical sell-off…
By Dharmesh Shah Equity benchmarks snapped past two weeks’ winning spree and concluded the previous week on a subdued note. The Nifty dropped 1.2% to settle for the week at 18115. The broader markets underperformed the benchmark as Nifty midcap and small-cap gained slumped ~5%, each. Sectorally, financials remained outlier…
Siemens witnessed moderation in execution with standalone revenue growing 11.7% y-o-y to Rs 4,300 crore against our expectations of Rs 46,00 crore for Q4FY22. Except mobility, all the segments reported execution below estimates. While gross margin expanded by ~200bps y-o-y to 32.7%, increase in ‘other expenses’ impacted the Ebitda margin,…
Capital markets regulator Sebi can relax regulatory norms for the central government in relation to strategic disinvestment of public sector undertakings (PSUs), according to a notification. “The Board (Sebi) may after due consideration of the interest of the investors and the securities market and for the development of the securities…