Category: News
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Sensex Suffers 1,823-Point Loss This Week: check reasons here
India’s stock market witnessed a significant downturn this week, with the benchmark Sensex plummeting 1,823 points. The Nifty50 also fell sharply, losing 530 points. This decline marks a reversal from the market’s recent upward trend. Analysts attribute the market downturn to various domestic and global factors. One key reason is the weakness in the Indian…
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Cryptocurrencies Threaten Financial Stability, Says RBI’s Das
Speaking at a financial stability forum, Das emphasized that cryptocurrencies lack underlying value and are highly volatile, making them unsuitable for the country’s financial system. Das’s comments echo the RBI’s long-standing skepticism towards cryptocurrencies. The central bank has consistently expressed concerns about the potential risks associated with digital currencies, including their use for illicit activities,…
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IDFC First Bank Shares Slip Before Q2 2024 Results: A Buying Opportunity on Monday?
Here’s the rewritten article As IDFC First Bank prepares to unveil its Q2 results for 2024 on Saturday, investors are bracing themselves for a potential mixed bag. The bank’s share price has been under intense selling pressure, plummeting over 8% in the last five consecutive sessions on the National Stock Exchange (NSE), from ₹71.55 to…
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Bajaj Finance’s Q2 Profitability to Get Boost from Strong Loan Book and IPO Arm Stake Sale
Bajaj Finance is poised to report strong financial results for the second quarter of FY25, driven by robust loan growth and improved asset quality. Analysts predict double-digit growth in Net Interest Income (NII) and profit for the quarter ended September. According to estimates, Bajaj Finance’s NII is expected to grow 22-25% year-over-year, driven by strong…
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UltraTech Cement Reports 36% Slump in Q2FY25 Net Profit to Rs 820 Crore
UltraTech Cement’s Q2FY25 Earnings Take a Hit: Net Profit Plunges 36% Amid Revenue Downturn India’s largest cement manufacturer, UltraTech Cement, reported a significant 36% decline in net profit for the quarter ended September (Q2FY25), primarily attributed to lower revenue from operations. The company’s financial performance was impacted despite steady domestic sales volume growth and strategic…
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Adani Enterprises Bags $500 Million Primary Equity Investment
In a significant boost to its expansion plans, Adani Enterprises has successfully raised $500 million through a primary equity infusion. This fresh capital injection is expected to propel the conglomerate’s growth trajectory, underpinning its strategic initiatives across diverse business segments. The primary equity raising exercise has garnered substantial interest from marquee investors, underscoring market confidence…
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Byju Raveendran Slams Investors for Deserting Byju’s in Times of Need
Byju’s Founder Ravendran Breaks Silence on Financial Woes, Slams Investors for “Running Away” In a candid virtual press conference, Byju Raveendran, founder of troubled edtech giant Byju’s, spoke out for the first time since the company’s financial struggles began. Raveendran expressed regret over investors abandoning ship, exacerbating the company’s uphill battle. Raveendran highlighted the irony…
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Sensex, Nifty 50 fall for second consecutive session; Mahindra and Mahindra, Infosys top drags
The Indian stock market witnessed another day of losses, with the BSE Sensex and NSE Nifty 50 Index declining for the second consecutive session. The Sensex fell 0.7% to 59,288.53, while the Nifty 50 Index slipped 0.8% to 17,715.90. The market’s downward trajectory was largely driven by losses in index-heavyweight stocks, particularly in the information…
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BSE Stock Falls 7% After Jefferies Rating Cut to Underperform on High Valuations
Shares of the Bombay Stock Exchange (BSE) took a significant hit on Monday, tumbling 7% to ₹1,046.55, after global brokerage firm Jefferies downgraded its rating to “underperform” from “hold”. This downgrade was primarily driven by expensive valuations. Jefferies cited BSE’s lofty valuations as a major concern, noting that the exchange’s price-to-earnings ratio is significantly higher…
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Cabinet clears Central Government Employees to Receive 3% DA Boost Ahead of Diwali
The Indian government has approved a 3% hike in Dearness Allowance (DA) for central government employees, ahead of the Diwali festival . This move is expected to benefit around 47 lakh central government employees and 68 lakh pensioners. The DA hike will be effective from July 1, 2024. Dearness Allowance is a percentage of the…