From the COVID lows, the benchmark Sensex is up nearly three times, scaling past the 65,000-mark, and in this journey, 25 of its constituents have turned multibaggers. From March 2020, when COVID-19 pandemic brought the Indian economy to a standstill, the Sensex has risen a whopping 150%. On Monday, the index scaled a lifetime high … Read more
The Indian stock market is trading at an all-time high as strong inflows from foreign and domestic investors rush in on the back of improved earnings and macroeconomic indicators. However, retail investors are in two minds: whether to book profits or continue investing. For investors looking for signs of real economic recovery, not just the … Read more
Back in 2010-11, India’s corporate tax mop-up was twice its personal income tax (PIT) collection. Now both are almost equal. In the past decade, the nation’s direct tax story has shown a trend: while the growth of companies’ tax payouts has been modest, citizens are contributing much more to the exchequer than what they used … Read more
“We are quite hopeful that some of the initiatives which we took last year, we could actually derive the benefit of that only for the half of the year but this year, the full year will be available and we will be in a position to ramp up our asset book, which we are underwriting … Read more
Mumbai: State Bank of India (SBI) is likely to kick off rupee bond issuances for the current financial year towards the end of this month or early next month with a sale of additional tier-1 bonds, sources aware of the development said The bond sale could be for up to ₹10,000 crore, with a base … Read more
Brokerage firm Morgan Stanley maintained its overweight rating on JSW Steel, SBI, Sun Pharma, and Nykaa. The brokerage also initiated an equal-weight rating on Eicher Motors. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Morgan Stanley on JSW Steel: Overweight| Target Rs 580Morgan Stanley maintained an overweight … Read more
Veteran fund manager Rajiv Jain said his GQG Partners LLC holds about $13 billion in India stocks and plans to buy more, downplaying corporate governance and political risks associated with his headline-generating investments in billionaire Gautam Adani’s beleaguered conglomerate. GQG holds positions in companies, including cigarette and hotel group ITC , the country’s biggest drugmaker … Read more
Mumbai: Currency in circulation declined by ₹36,492 crore a week after the Reserve Bank of India requested people to deposit or exchange the recently withdrawn ₹2,000 notes, most probably reflecting the value of notes returned to banks. Latest RBI data shows that the outstanding currency in circulation (CIC) as on May 26 was at ₹34.4 … Read more
“Looking at the Q3 numbers, it’s evident that there was sluggish demand from consumers. Thus, the upcoming quarter results will largely depend on consumer demand and the impact of seasonal rainfall and inflation. If volume picks up and consumer demand improves, we could see a re-rating” says Rahul Shah, Rahul Shah, VP-Equity Advisory at MOFSL. … Read more
The unexpected move by the Reserve Bank of India (RBI) to leave interest rates unchanged bolstered Dalal Street bulls who were reeling under the global economic and financial uncertainties. The Nifty Bank outperformed Nifty50 and moved past the 41,200-mark. The banking sector gauge rose for the 7th straight session, and this is the longest winning … Read more