Market Update

Penalty on loan accounts: RBI tweaks norms, asks banks not to use levy to boost revenue

Market Update

On August 18, the Reserve Bank of India (RBI) revised the standards for banks imposing penalties on loan accounts due to the borrower’s breach of contractual terms. The central bank said banks could not handle such penalties to increase revenue. The RBI said banks must treat penalties for non-compliance as a “penalty fee” and not …

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Concord Biotech stock lists at 21% premium over IPO price; share price hits Rs 900 at open

Market Update

Concord Biotech, backed by the late Rakesh Jhunjhunwala’s RARE Trusts fund, started trading at 21.46% above its IPO price on Aug. 18, beating analysts’ expectations of 15%. Shares opened the day at Rs 900.05 on the BSE and NSE, compared to a public issue price of Rs 741 per share. Most experts believe that stagnant …

Concord Biotech stock lists at 21% premium over IPO price; share price hits Rs 900 at open Read More »

10-year bond yields hits 7.25% as 7.44% inflation blocks way to cut policy rates

Market Update, Stock Market

India’s 10-year government bond yields jumped at the start of trading on August 17 after a sharp rise in retail inflation raised the possibility that policymakers would struggle to cut early interest rate cuts. Bond yields hit 7.25%, up 0.58% as traders sold government bonds – the highest level since April 6. The benchmark 10-year …

10-year bond yields hits 7.25% as 7.44% inflation blocks way to cut policy rates Read More »

Cipla shares fall after FDA suspends license of Patalganga unit for 10 days

Market Update, Stock Market

Cipla shares fell more than 1% in early trading on August 17 after the Konkan Food and Drug Administration (FDA) ordered the suspension of the license granted to the company’s Patalganga production unit for 10 days. in December 2023. The order was the result of non-compliance with good manufacturing practices at said facility under the …

Cipla shares fall after FDA suspends license of Patalganga unit for 10 days Read More »

Adani Power gains 3%, recover previous day’s loss after GQG revealed as buyer of 8.1% stake

Market Update, Stock Market

Adani Power’s share price increased by more than 3% in morning trading on August 17, making up for the previous day’s loss, after it was reported that GQG Partners was the party to buy 8.1 shares worth of shares. % in company. Shares of Adani Power rose to Rs 288.3 in the morning, from a …

Adani Power gains 3%, recover previous day’s loss after GQG revealed as buyer of 8.1% stake Read More »

Motilal Oswal raises Nifty50 EPS outlook by 2.5% on robust corporate earnings

Market Update, Stock Market

Motilal Oswal increased its FY24 earnings forecast for Nifty 50 shares by 2.5% to Rs 988 on the basis of strong business results that look strong enough to support India’s growing economic outlook. . Smart companies reported 32% growth in profits in the June quarter. The earnings distribution was particularly positive, with 62% of total …

Motilal Oswal raises Nifty50 EPS outlook by 2.5% on robust corporate earnings Read More »

KPI Green Energy shares gain on deal to develop green power projects

Market Update, Stock Market

Share price of KPI Green Energy rose slightly on August 16 after the company signed a contract with Mahatma Phule Renewable Energy and Infrastructure Technology Co., Ltd (MAHAPREIT), a subsidiary of Vietnam Development Corporation. Mahatma Phule Backward Development Class (MPBCDC), a government enterprise in Maharashtra. At 10:06 am, KPI Green Energy was trading at Rs …

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JSW Energy gains on bulk deals; GQG Partners buys Rs 410.94 crore shares

Market Update, Stock Market

Shares of JSW Energy rose 3% on the NSE on August 16 after the company announced on August 14 that Rajiv Jain’s emerging markets fund GQG Partners had purchased Rs 410.94 crore of shares. bond of JSW Energy. Nearly 1.19 crore of shares of JSW Energy were purchased by the US-based GQG Partners Emerging Markets …

JSW Energy gains on bulk deals; GQG Partners buys Rs 410.94 crore shares Read More »

IndiGo shares fly down 4.5% after Rs 4,837-cr share sale likely by Gangwal family

Market Update, Stock Market

Shares of IndiGo operator, InterGlobe Aviation, fell 4.5% in early trading on August 16 after a block deal involving 5.1% of the company’s capital took place on exchanges. pandemic. At 9:21 am, shares of InterGlobe Aviation traded down 3.66% to Rs 2,445.95 on the National Stock Exchange. About two million shares or 5.1% shares of …

IndiGo shares fly down 4.5% after Rs 4,837-cr share sale likely by Gangwal family Read More »

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