In the Nifty500 pack, five stocks’ close prices crossed above their 200 DMA (Daily Moving Averages) on January 3, according to stockedge.com’s technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day … Read more
Brokerage Kotak Institutional Equities has increased its weight on consumer plays Britannia Industries and Godrej Consumer Products (GCPL) as it tweaked its largecap portfolio while lowering weightage for Macrotech Developers, even as the domestic brokerage remains positive on the residential real estate space. Kotak has increased weights by 20 bps on Britannia Industries and GCPL … Read more
Mumbai: ‘s assets under management rose to touch ₹2.5 lakh crore as new products were lapped up by customers. “This is an outcome of offering customer-centric products, growth in new business premium, industry-leading persistency ratios, superior customer service and delivering superior risk-adjusted returns,” the company said in a statement. The company commenced operations in December … Read more
Mumbai: Uber Technologies exited its entire 7.8% stake in food delivery platform Zomato by selling 612 million shares through multiple block deals on Wednesday. The American mobility service provider raised around ₹3,088 crore or $390 million at nearly 100% profit. In January 2020, had acquired Uber Eats’ India operations in a non-cash deal, following which … Read more
The BSE Sensex lost about 3,000 points to close at 51,360, whereas the Nifty50 index plunged close to 990 points to settle below the 15,300 mark during the week. Both indices are a little shy of entering the bear zone. According to the market experts, the aggressive rate hikes by the US Federal Reserve and … Read more