Profit by knowlytics
The Maharashtra co-operative court ruled that housing societies cannot impose higher maintenance fees based solely on property size or type, siding with residents who argued for equal charges. Full details of the case here.
Axis Bank Share Price Live Updates: Axis Bank Stock Update
Wipro Share Price Live Updates: Wipro’s Trading Insights
In a significant downturn, HDFC group stocks saw a staggering loss of Rs 4.4 lakh crore in market capitalization over the last year. HDFC Bank suffered a 26% drop, equating to a loss of Rs 3.73 lakh crore. Similarly, HDFC Life Insurance faced a 29% decline, resulting in a Rs 47,261 crore dip.
Indian equities opened marginally higher on Thursday ahead of expiry-day volatility, with Sensex and Nifty gaining around 10 and 11 points, respectively. India VIX rose 3% to 10.84. Kotak Mahindra Bank led gains, while HCL Technologies and HDFC Bank declined. Consumer durables gained, while FMCG slipped amid mixed market breadth.
The Indian rupee opened lower at ₹95.44 against the dollar due to decreased crude oil prices and RBI interventions, despite pressures from potential Federal Reserve rate hikes. Brent crude eased to $86.30 per barrel, influencing market stability and expectations for foreign exchange inflows.
MCX gold October futures rose by 0.53% up to ₹1,60,509 per 10 grams, while MCX silver September contracts climbed 0.71% to ₹2,41,341 per kg in early deals on Thursday.
Chicago wheat extended its rally to a three-year high, as concerns grow that the war between Russia and Ukraine could escalate and further disrupt supplies from one of the world’s most important breadbaskets.
Lumino Industries IPO opens on 27 August at ₹78-82 per share. Lumino Industries IPO GMP of +50, indicating a potential listing price of ₹132. The company aims to raise ₹500 crore, with ₹337 crore planned for debt repayment.
Sun Pharma Share Price Live Updates: Investors Take Note: Sun Pharma Surpasses 20-Day EMA