BUSINESS
World Street | Logitech's CFO exits, Reddit's stellar IPO subscription, Fisker's fund raise and more
From Reddit's strong IPO response, Talos Energy's asset sale, TotalEnergies to US Steel's demand stress and EV maker Fiskas' fund raise plans, here's a look at some of the major developments from across the world
BUSINESS
Zomato, Axis Bank, Bharti Airtel feature on Jefferies hotlist for next 5 years
With the US dollar clocking a CAGR of around 10-12 percent, the Indian equity market is likely to reach $10 trillion in market valuation by 2030, Jefferies noted
BUSINESS
Broader market under 'stress', small, midcaps fall over 1% as MF test results trickle in
Small and midcap stocks have been hammered as concerns around frothy valuations prompted increased SEBI scrutiny. The SEBI mandated stress test for mutual funds has added to panic among investors, triggering a meltdown in the broader market
BUSINESS
Broader market rebounds with BSE smallcap, midcap indices up 1-2%
Stress test for mutual funds investing in small and midcaps alongwith concerns brought forth by SEBI have weighed on the broader market in recent times.
BUSINESS
Japan's Nikkei falls 3% amid profit booking, worries over spike in interest rates
Japan's revised official data showed that its GDP expanded 0.4 percent in the October-December period last year, paving the way for Bank of Japan to raise interest rates.
BUSINESS
Meltdown in broader market as midcaps, smallcaps burn amid heavy selling
The sharp selloff in the small and mid-cap segments also dragged the overall market breadth heavily in favour of laggards so much so that nearly five stocks fell for each one that rose
BUSINESS
Indian chemical players had big hopes riding on China+1, but reality dashes them
China has continued to expand its market share in the global specialty chemicals space, despite a sharp decline in production during its COVID lockdowns.
BUSINESS
Closing Bell: Sensex gains 65 pts, Nifty ends near 22,400; Insurance stocks surge 1-3%, wind players slump 3-5%
Benchmark indices continued the uptrend, posting marginal gains, albeit ending off the day's highs, with the Nifty 50 surpassing its previous record to scale a new all-time peak. Positive cues from global markets and optimism arising from India's better-than-expected GDP growth in Q3 last week also aided the sentiment. Among sectors, banks, energy, infra, and pharma rose while information technology, metals, FMCG, and automobile remained under pressure.
BUSINESS
Closing Bell: Nifty ends near 22,400 in special trading session; Sensex closes with minor gains
The Nifty opened at a record high on the special trading session on March 2, surpassing the 22,400-mark for the first time, Sensex too followed on and set a new peak, moving closer to the 80,000-mark. Cues from global markets were positive and most sectoral indices also traded in the green which aided the momentum in the market.
BUSINESS
Stock Market Today: Top 10 things to know before the market opens
Trends in the GIFT Nifty indicate a positive start for the broader index in India, with a gain of 60 points or 0.27 percent.
BUSINESS
Dr Reddy's drops 4% after being named in US anti-trust lawsuit
The complaint accuses Dr Reddy's of improperly restraining competition and maintaining a monopoly in the sale of the cancer drug Revlimid
BUSINESS
SC order on standard rate unlikely to hit hospitals too hard, brokerages believe
Brokerage firm Jefferies remains bullish on hospital stocks due to their strong growth prospects and advices investors to use any meaningful stock correction as a buying opportunity.
BUSINESS
Foreign funds binge on Indian debt; what does it mean for the rupee?
Increased inflows in anticipation of more passive flows to Indian bonds due to the inclusion to global bond indices are expected to stabilise the rupee. But will it appreciate the Indian rupee? Analysts don't anticipate it as yet.
BUSINESS
Grasim's paint foray turns brokerages bearish on Asian Paints as competition heats up; stock falls 4%
While Grasim's paint foray is unlikely to take away Asian Paints' top spot in the sector, it will definitely fuel competition and change dynamics within the industry.
BUSINESS
SEBI bars ETFs from investing abroad, but some routes to buy Nvidia, other US shares still open
While SEBI's directive closed one door through which Indian investors could participate in the US stock markets rally, there are still other ways to invest in the US market. Indian investors can open an international trading account and buy stocks directly
BUSINESS
What’s after Revlimid for Dr Reddy’s, Cipla, and Sun Pharma?
The patent on Revlimid expires in January 2026 and the three pharma majors, which have seen strong growth on the back of this drug, are looking for other opportunities to keep their growth path. They appear to have aces up their sleeves.
BUSINESS
Jeff Bezos sells another $2 billion worth of Amazon shares
This is the third stake sale in by Bezos in just a month, bringing the total sales value to over $6 billion
BUSINESS
MC Explains | What being part of Bloomberg Bond Index means for India and investors
The possible inclusion of Indian treasuries to Bloomberg's Emerging Market Local Currency Index could potentially trigger active and passive foreign inflows worth $10 billion-15 billion over FY25.
BUSINESS
US CPI blazes March Fed cut hope but blisters unlikely for India, earnings a bigger worry
While the market is expected to remain under pressure for a couple of days due to the hot US inflation print, it is unlikely to be as big a risk for Indian equities as concerns of an earnings slowdown, analysts believe.
BUSINESS
PSU names recover, analysts advise stock-specific buying
The sharp surge in PSU stocks over the last year stretched valuations beyond fundamentals. Analysts anticipate the upward momentum to turn stock-specific in the coming time
BUSINESS
India's MSCI EM index weightage to surge to 18.2%; Closing in on China's dominance
India's MSCI Emerging Markets index surged from 8% in June 2020 to 17.9% currently. With ongoing domestic institutional flows and steady FII participation, India may exceed 20% in the MSCI EM Index by 2024.
BUSINESS
Analyst Call Tracker: Cipla falls out of favour despite strong Q3 earnings show
Sentiment for Cipla has cooled among analysts as two of its much-awaited launches—respiratory drug Advair and chemotherapy drug Abraxane—have been delayed further due to their production plants facing regulatory issues.
BUSINESS
SEBI considering two models to regulate API based algo trading: sources
A meeting chaired by SEBI Chairperson Madhabi Puri Buch, including representatives from market infrastructure institutions (MIIs), algo providers and stock brokers took place to discuss various issues around algorithmic trading.
BUSINESS
Bigwigs in US tech scaling down stakes. Is US tech peaking?
Amazon.com Inc founder Jeff Bezos offloaded 12 million shares in a whopping $2 billion deal making it his biggest stake sale in the e-commerce company since 2021.
