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INDIA MARKET | Tue, 10 Dec 2024, 7:51AM IST Stocks including Tata Motors, Syngene, JSW Steel, Bharat Electronics, Vodafone Idea, Bharat Forge, NHPC, Torrent Power and more will be in the spotlight on Tuesday, December 10.

Continue reading at Business Today

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INDIA MARKET | Tue, 10 Dec 2024, 7:50AM IST Tata Power is awaiting government initiatives on nuclear power and said it will consider divestments of non-core assets outside India.

Continue reading at Business Today

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INDIA MARKET | Tue, 10 Dec 2024, 7:46AM IST An analyst from Anand Rathi said that Tata Steel is encountering a significant resistance level around the R3 Camarilla pivot, specifically in the Rs 150-151 zone, indicating selling pressure.

Continue reading at Business Today

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INDIA MARKET | Tue, 10 Dec 2024, 7:44AM IST Markets Live: Markets here are likely to engage in stock specific action in the absence of major domestic triggers, apart from keeping an eye out for Chinese imports, exports and trade data today

Continue reading at Business Standard

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INDIA COMMODITIES | Tue, 10 Dec 2024, 7:43AM IST Oil prices remained relatively stable despite a slight dip, influenced by geopolitical tensions in the Middle East after the Syrian government's collapse and China's planned economic stimulus. China's easing monetary policy and anticipated U.S. stockpile data further supported prices. Meanwhile, increased U.S. oilfield hiring signaled potential production growth.

Continue reading at Economic Times

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INDIA MARKET | Tue, 10 Dec 2024, 7:39AM IST Stocks to Watch on Dec 10: From Vodafone Idea (Vi) to Tata Motors, here is a list of stocks that will remain in limelight today

Continue reading at Business Standard

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INDIA MARKET | Tue, 10 Dec 2024, 7:37AM IST Four companies, including Achyut Healthcare, take center stage with key corporate actions. Achyut Healthcare implements a 4:10 bonus issue and a stock split from Rs 10 to Re 1. Global Education, Shradha AI Technologies, and Shradha Infraprojects also announce stock splits, impacting investor eligibility and stock movements.

Continue reading at Economic Times

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INDIA BUSINESS | Tue, 10 Dec 2024, 7:30AM IST Reliance Industries is discussing a potential $3 billion loan with banks to refinance debt due in 2025. This move would mark the conglomerate's return to offshore borrowing since raising over $8 billion in 2023. The loan comes as the Indian rupee weakens and Reliance Industries maintains a credit rating higher than India's sovereign grade.

Continue reading at Economic Times

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INDIA COMMODITIES | Tue, 10 Dec 2024, 7:25AM IST Gold prices held steady near a two-week high on Tuesday as investors awaited U.S. inflation data. China renewed gold buying after a six-month pause. Markets anticipate a Fed rate cut, while new sanctions target Russia's illicit gold trade. Silver, platinum, and palladium also saw gains.

Continue reading at Economic Times

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INDIA MARKET | Tue, 10 Dec 2024, 7:23AM IST Wall Street's main indexes fell on Monday, dragged down by tech stocks, particularly Nvidia, following a Chinese antitrust investigation. Investors awaited key inflation data due later this week. Comcast and Omnicom also slumped, while Hershey surged on acquisition rumors. Positive unemployment data fueled rate cut bets.

Continue reading at Economic Times

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INDIA BUSINESS | Tue, 10 Dec 2024, 7:17AM IST About half a dozen banks are in discussions with the Indian conglomerate for the loan, which would be syndicated to wider market in the first quarter of 2025

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INDIA MARKET | Tue, 10 Dec 2024, 7:12AM IST At 6:35 AM, GIFT Nifty futures were trading 50 points higher at 24,753 levels, hinting at an upbeat start

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INDIA MARKET | Tue, 10 Dec 2024, 7:10AM IST The price of 22-carat gold also jumped Rs 10, with ten grams of the yellow metal selling at Rs 71,310

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INDIA MARKET | Tue, 10 Dec 2024, 6:46AM IST Nifty Financial Services, Auto index outlook: How to trade these indices on Tuesday, December 10, 2024? Here's your trading guide

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1h

INDIA MARKET | Tue, 10 Dec 2024, 6:41AM IST Australia's central bank is expected to leave its cash rate on hold at 4.35% later in the day. Overnight the S&P 500 fell 0.6% and futures dipped 0.1% in the Asia morning.

Continue reading at Economic Times

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INDIA MARKET | Tue, 10 Dec 2024, 6:07AM IST "The strong response to the QIP is a testament to the market's conviction in the Torrent's growth strategy, execution capabilities, operational excellence and best-in-class capital allocation. This capital raise will strengthen our balance sheet and accelerate our growth plans," Samir Mehta, chairman of Torrent Group, said in the statement.

Continue reading at Economic Times

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INDIA MARKET | Tue, 10 Dec 2024, 5:59AM IST The public issue is aimed at giving a partial exit to Kedaara Capital, which will dilute the private equity promoter's stake to 76% from 96.5%. Since it is an OFS, the company will not get any proceeds from the share sale.

Continue reading at Economic Times

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INDIA MARKET | Tue, 10 Dec 2024, 5:56AM IST Agro Tech Foods announced the acquisition of a 100% stake in Del Monte Foods last month. It will buy a 40.71% stake from DMPL India and the remaining 59.29% from Bharti Entities. As part of the deal, Agro Tech Foods will issue a total of 13.3 million shares on a preferential basis.

Continue reading at Economic Times

2h

INDIA MARKET | Tue, 10 Dec 2024, 5:39AM IST Shares of Syngene International dropped 5.7%, Piramal Pharma fell 4.2%, Lauras Labs and Neuland Laboratories declined 3% and Divi's Laboratories fell 2.8% on Monday. The BSE 500 was down 0.1%.

Continue reading at Economic Times

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INDIA MARKET | Tue, 10 Dec 2024, 5:32AM IST Initially, I was a little worried about what foreigners would do given the lower earnings growth. They have sold about 1.5 lakh crore but the Nifty has fallen only about 1,200 points. And now they are also tired of selling.

Continue reading at Economic Times

2h

INDIA NEWS | Tue, 10 Dec 2024, 5:27AM IST Mumbai: Fast-moving consumer goods (FMCG) were among the top losers in Monday's trading after Godrej Consumer Products said it anticipated muted demand in its third-quarter business update. Investors must brace for further downside in these stocks as pressure on volumes and margins on account of an urban demand slowdown could extend beyond the third quarter, said analysts. "Since Godrej Consumer is a bellwether stock in terms of volume growth, other stocks have also taken a beating as investors turned cautious of other companies facing similar headwinds," said Ajay Thakur, research analyst- FMCG, Anand Rathi Institutional Equities.Godrej Consumer Products fell nearly 9%, leading a fall in FMCG stocks. Tata Consumer Products slumped 4.1% while Marico, Hindustan Unilever and Dabur shed over 3% each. Colgate Palmolive tumbled 2.9% while Nestle and Britannia Industries fell over 1.5%. ITC closed 1.26% lower.The Nifty FMCG shed 2.2%, while the benchmark Nifty dipped 0.24%. Of the 15 stocks on the FMCG Index, 14 declined while one advanced on Monday.116153496"There was some expectation of better numbers in the third quarter due to the wedding and festive season which didn't pan out as indicated by Godrej Consumer Products," said Amit Agarwal, senior vp and research analyst, Kotak Securities. "Margins are likely to remain under pressure and further derating is expected."Agarwal said that earnings downgrades are likely to follow and at least 10-15% derating in the stocks is expected from the current levels, especially in the urban-focused companies, which is the majority of the FMCG basket.Godrej Consumer Products said that the subdued demand has impacted FMCG market growth in the past few months. The uptick in palm oil and derivatives prices have impacted the soaps category, driving the company to take price hikes, the company said.Analysts said Godrej's commentary suggests volumes take some time to recover. "The valuations are stretched as the margin squeeze and negligible volume growth don't justify the valuations," said Agarwal. "Investors are advised to remain cautious on these stocks as further downside is likely."The Nifty FMCG index declined nearly 12% in the last three month, compared to a 1.3% fall in the Nifty."In terms of valuations, the corrections have been sharp, and most companies are closer to the five-year average," said Amit Purohit, VP- research, Elara Capital. "However, there is no near-term trigger for the stocks."Investors are expected to remain cautious as there are near-term headwinds with respect to demand as of now, said Purohit.From FY26 and FY27 onwards, the street will start building high-single-digit growth for FMCG companies aided by price hikes, he added.Some analysts are bullish on large-cap FMCG stocks. "The stocks have already witnessed quite a lot of corrections, and the valuations are attractive," said Thakur. "Hindustan Unilever and Godrej Consumers are trading attractively priced and offer good buying opportunity from a two- to three-year view."

Continue reading at Economic Times

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GLOBAL NEWS | Tue, 10 Dec 2024, 3:44AM IST Everything around President-elect Donald J. Trump has become something to monetize, including a moment of comity with Jill Biden at Notre-Dame over the weekend.

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GLOBAL NEWS | Tue, 10 Dec 2024, 1:31AM IST A Nevada commissioner ruled resoundingly against Mr. Murdoch, who was trying to give full control of his empire to his son Lachlan and lock in Fox Newss right-wing editorial slant.

Continue reading at The New York Times

6h

GLOBAL NEWS | Tue, 10 Dec 2024, 12:59AM IST Google unveiled an experimental machine capable of tasks that a traditional supercomputer could not master in 10 septillion years. (Thats older than the universe.)

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7h

INDIA MARKET | Tue, 10 Dec 2024, 12:49AM IST Sanjay Malhotra, a 1990-batch IAS officer, has been appointed as the next RBI governor for a three-year term, succeeding Shaktikanta Das. He takes charge amid high inflation and slowing growth, facing the challenge of balancing economic recovery with price stability. Malhotra, currently revenue secretary, has a strong background in taxation reforms and financial services.

Continue reading at Economic Times

7h

INDIA BUSINESS | Tue, 10 Dec 2024, 12:48AM IST The analysis is based on a common sample of 667 companies from BSE 500, BSE Mid Cap and BSE Small Cap Index excluding their listed subsidiaries

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7h

INDIA BUSINESS | Tue, 10 Dec 2024, 12:42AM IST Union Minister Pralhad Joshi announced central financial assistance for a 2,000-MW solar park in Rajasthan, praising the state's new clean energy policy. Meanwhile, Minister G Kishan Reddy highlighted the need for mine closure partnerships and encouraged domestic industry to acquire overseas critical mineral assets, emphasizing Rajasthan's leading role in India's mineral security.

Continue reading at Economic Times

7h

INDIA MARKET | Tue, 10 Dec 2024, 12:31AM IST IL&FS Financial Services is selling 2,200 crore in loans to recover dues from SKIL Infrastructure, Gujarat-Dwarka Portwest, and SKIL-Himachal Infrastructure and Tourism. These loans, classified as NPAs in 2017, are part of a larger 5,000 crore recovery effort. The IL&FS group has resolved nearly 90% of its 61,000 crore debt target as of September 30, 2024.

Continue reading at Economic Times

7h

INDIA BUSINESS | Tue, 10 Dec 2024, 12:31AM IST IL&FS Financial Services is selling 2,200 crore in loans to recover dues from SKIL Infrastructure, Gujarat-Dwarka Portwest, and SKIL-Himachal Infrastructure and Tourism. These loans, classified as NPAs in 2017, are part of a larger 5,000 crore recovery effort. The IL&FS group has resolved nearly 90% of its 61,000 crore debt target as of September 30, 2024.

Continue reading at Economic Times

7h

INDIA BUSINESS | Tue, 10 Dec 2024, 12:27AM IST Gentari's Indian subsidiary will provide 650 MW of continuous green power to AM Green Ammonia India. Gentari plans to establish 2,400 MWp of renewable energy capacity in Andhra Pradesh and Karnataka, integrating solar and wind projects with energy storage. This unique project will deliver firm and dispatchable green energy to AMG Ammonia's facilities.

Continue reading at Economic Times

7h

INDIA BUSINESS | Tue, 10 Dec 2024, 12:26AM IST Alvarez & Marsal (A&M) is bolstering its corporate finance team in India, appointing Mohit Khullar as managing director. A&M plans to double its corporate finance staff to 40 professionals within two years, focusing on sectors like healthcare and manufacturing. The firm has previously advised on major deals, including Tata Sons' acquisition of Air India and ArcelorMittal's buyout of Essar Steel.

Continue reading at Economic Times

7h

INDIA BUSINESS | Tue, 10 Dec 2024, 12:25AM IST Avaada Group pledged over 1 lakh crore investment in Rajasthan's renewable energy sector by 2030. Projects include a 1,200 MW pumped storage project, green hydrogen and ammonia ventures, and wind and solar projects. Chairman Vineet Mittal advocated for improved infrastructure and green manufacturing zones to support these ambitious plans, building on the company's existing 10 GW portfolio in the state.

Continue reading at Economic Times

7h

INDIA BUSINESS | Tue, 10 Dec 2024, 12:23AM IST ONGC plans to auction 1.2 GW of greenfield renewable energy projects in two 600 MW rounds. The first auction, in two months, seeks developers for end-to-end project development. ONGC will secure power purchase agreements. The second auction will focus on land and grid connectivity, with ONGC handling EPC and PPAs separately.

Continue reading at Economic Times

7h

INDIA NEWS | Tue, 10 Dec 2024, 12:18AM IST Bharti Airtel said its artificial intelligence-enabled spam fighting solution detected eight billion spam calls and 0.8 billion spam text messages on its network in the first two and a half months. The telecom operator said it spotted a million spammers a day and that its spam tracking solution led to a 12% fall in answered spam calls. Mobile phone users in Delhi got spammed the most, it said, while those in Gujarat received the highest number of spam text messages.116149304116149316116149323

Continue reading at Economic Times

7h

INDIA BUSINESS | Tue, 10 Dec 2024, 12:18AM IST The telecom operator said it spotted a million spammers a day and that its spam tracking solution led to a 12% fall in answered spam calls. Mobile phone users in Delhi got spammed the most, it said, while those in Gujarat received the highest number of spam text messages.

Continue reading at Economic Times

7h

INDIA NEWS | Tue, 10 Dec 2024, 12:13AM IST Gross foreign direct investment, which includes equity capital of unincorporated bodies, reinvest earnings and other capital, saw 29 per cent rise at $42.3 billion during April-September

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7h

INDIA BUSINESS | Tue, 10 Dec 2024, 12:04AM IST The India region is Xiaomi's largest market outside of China in terms of revenue. Anuj Sharma, chief marketing officer at Xiaomi India, said that the industry is now excited to start re-collaborating on the technology aspect that could come in because of the de-escalation.

Continue reading at Economic Times

7h

INDIA MARKET | Mon, 9 Dec 2024, 11:53PM IST Experts cite better risk-reward for investors with 3-year horizon

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8h

GLOBAL NEWS | Mon, 9 Dec 2024, 11:52PM IST The company is requesting a pause on a law that requires the app to be sold or face a ban in the United States by mid-January, aiming to buy time for the Supreme Court or the incoming Trump administration to rescue it.

Continue reading at The New York Times

8h

INDIA MARKET | Mon, 9 Dec 2024, 11:46PM IST Das steered India's economy through challenging times, including the Covid pandemic and global conflicts. Das prioritised financial stability and a 4% inflation target, leaving India as the fastest-growing economy with robust foreign exchange reserves. His successor is Sanjay Malhotra.

Continue reading at Economic Times

8h

INDIA BUSINESS | Mon, 9 Dec 2024, 11:40PM IST BP's retreat from offshore wind reflects a similar trend at rivals Shell and Equinor, which are trying to boost near-term profits by spending more on higher-return oil and gas operations

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INDIA NEWS | Mon, 9 Dec 2024, 11:32PM IST Previously, the pension bill has increased by 13.4 per cent in FY22

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INDIA NEWS | Mon, 9 Dec 2024, 11:29PM IST As revenue secretary, Malhotra took key decisions, including rationalisation of capital gains tax

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8h

INDIA MARKET | Mon, 9 Dec 2024, 11:25PM IST The government is aiming to add at least 500 giga watts of clean energy by 2030 to reduce carbon emissions

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INDIA MARKET | Mon, 9 Dec 2024, 11:10PM IST The pace of the country's economic growth moderated sharply in the second quarter ended September 2024

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