Category: Business News

As long as the stock is priced above the 200-day SMA on the daily timeframe, it is generally considered to be in an overall uptrend.

The public issue, which was open for subscription between June 24 and June 29, was subscribed 1.37 times overall. The retail investor portion was booked 1.63 times, while the qualified institutional buyers (QIB) category saw 1.02 times subscription and the non-institutional investor (NII) segment was subscribed 1.54 times. The employee quota was subscribed 1.82 times.

Indian equities closed higher Wednesday, ending a two-day slump. The market remains range-bound, with traders anticipating a clear direction. Analysts suggest a bullish outlook persists above 23,800, eyeing a potential rise to 24,200. Meanwhile, market volatility eased, and foreign investors were net sellers, while domestic institutions bought shares.

Several large-cap Indian companies have seen their stock prices surge from 52-week lows to highs within just three months. This impressive rally, yielding returns of 22-65%, is attributed to strong March quarter results, optimistic FY27 forecasts, and strategic moves like fundraising. Despite this momentum, many of these stocks remain undervalued compared to their historical valuation…

India’s health insurance sector welcomes a new player as Prudential HCL Health Insurance receives regulatory approval. This joint venture, backed by Prudential Group Holdings and HCL Group, aims to tap into the growing demand for medical cover. The approval also signals broader regulatory changes, including new accounting standards and a policyholder protection fund. Prudential’s presence…

Adani Energy Solutions has received board approval to raise a substantial ₹10,000 crore through a qualified institutional placement. This move follows their recent agreement to acquire IntelliSmart Infrastructure for ₹3,050 crore. Shareholders will vote on the issuance at an extraordinary general meeting on July 25. The company’s stock saw a positive response, closing 2% higher…

Indian markets opened positively, with analysts suggesting a stock-specific strategy amidst consolidation. Hero MotoCorp sees a revival in commuter bike demand, planning capacity expansion. Canara Bank and Indian Bank reported strong credit growth. Bharti Airtel’s NBFC arm has begun operations, while Indian Hotels plans significant capital expenditure. SBI launched AI-powered innovations, and BPCL is acquiring…

Adani Group and Abu Dhabi’s International Holding Company are set to invest a massive $11.5 billion in a new Odisha aluminium plant. This ambitious project, aiming for over 2 million tonnes annual capacity, could significantly boost India’s aluminium production by nearly 50%.

Zee Entertainment’s board has greenlit a significant fundraising move, approving the issuance of warrants worth up to ₹3,143.5 crore to a promoter group entity, Sunbright Mauritius Investments. This strategic move, pending shareholder and regulatory nods, could substantially boost the promoter group’s stake to nearly 24%. The warrants, priced at ₹126 each, require an upfront payment…

Leading public sector banks, including Canara Bank and Indian Bank, are experiencing a sustained trend where their loan disbursements are expanding at a quicker pace than customer deposits. Canara Bank saw its advances surge by 18%, while Indian Bank reported a 13.9% rise in credit. This robust credit expansion, particularly in retail, agriculture, and MSME…