May 14, 2024, 3:28 pm IST
Gold Price India Falls For 3rd Day, May 14: 24K/100 Grams Gold Declines By Rs 8,700
Gold prices India slipped for 3rd day consecutive day today thus making it attractive for gold buyers as they can buy the yellow metal at reduced prices. Meanwhile, investors are looking forward to key US inflation data that could throw light into the timing of US Fed’s initial rate adjustment. The U.S. is expected to declare the producer price index (PPI) data on Tuesday and consumer price index (CPI) on Wednesday, according to report.
22K gold price today declined by Rs 400 to Rs 66,750/10 grams in India and 100 grams of 22 carat yellow metal price slipped by Rs 4000 in the country to Rs 6,67,500 on May 14. Meanwhile, 24k precious metal prices got cheaper by Rs 430 to Rs 72,820/10 grams and 100 grams of 24 carat yellow metal prices declined by Rs 4300 to Rs 7,28,200 on Tuesday. It is worth mentioning that 100 grams of 24k gold prices in India declined by Rs 8,700 now for 3rd day today.
May 14, 2024, 2:41 pm IST
Vedanta Shares Hit 52-Week High
Billionaire Anil Agarwal's Vedanta Ltd share today hit fresh 52-week high as its Board of Directors are scheduled to hold a meeting on may 16, 2024 to consider first interim dividend and fundraising on May 16, 2024. The company fixed May 25, 2024 as the record date for interim dividend. Current market price of Vedanta share on BSE is Rs 434.35 per share with intraday jump of 4.93%. The market capitalisation of the firm stood at Rs 1,61,623.71 crore. Vedanta shares zoomed 10% in last 1-week and 69% year-to-date.
May 14, 2024, 2:37 pm IST
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May 14, 2024, 1:52 pm IST
The Go Digit Stake Of Anushka Sharma And Virat Kohli Increases Threefold As The Company Prepares For An IPO.
Investors are wondering how much money celebrity couple Virat Kohli and Anushka Sharma have made from their investment in the company since February 2020, as Go Digit General Insurance's Rs 2,614-crore initial public offering (IPO) is scheduled to launch on May 15. Calculations suggest that, even though they are holding the shares while the company moves towards a public offering, the couple's investment in Go Digit may have almost doubled.
May 14, 2024, 1:49 pm IST
PVR Inox Q4 Results: Revenue Increases 10% YoY While Net Loss Narrows To Rs 130 Crore.
PVR Inox, a chain of multiplexes, recorded a total financial loss of Rs 130 crore for the quarter that ended on March 31, 2024, compared to Rs 333 crore for the same time the previous year. For the quarter ending in October through December, it declared a profit of Rs 13 crore.
May 14, 2024, 12:02 pm IST
Hindalco Industries Shares In Focus
Novelis Inc., a subsidiary of the company, declared today that it has submitted a Form F-1 registration statement to the Securities and Exchange Commission (SEC) for the proposed IPO of its common shares. The common shares are expected to be offered by Novelis' sole shareholder (a wholly owned subsidiary of Hindalco Industries Limited). The proceeds from Novelis's sole shareholder's sale of common shares will not be received by Novelis. Novelis plans to list its common shares under the ticker code "NVL" on the New York Stock Exchange ("NYSE").
May 14, 2024, 11:52 am IST
RBL Bank Shares In Focus
Through a number of quant mutual fund schemes, RBI has approved quant Money Managers Ltd to acquire up to 9.98% of the paid-up share capital or voting rights in RBL Bank Limited. The aforementioned major shareholding in the bank may be acquired by quant Money Managers Ltd. through a variety of quant Mutual Fund schemes within a year, or by May 12, 2025.
May 14, 2024, 11:43 am IST
L&T Technology Services Named A Top 15 Sourcing Standout By ISG
Information Services Group (ISG), a renowned international technology research and consultancy company, named L&T Technology Services Limited a Top 15 Sourcing Standout.
May 14, 2024, 11:08 am IST
Shriram Finance Shares Surge 5% On Warburg Pincus Deal
In order to solely focus on automobile financing Shriram Finance said on Tuesday that it would be selling its housing finance division to private equity major Warburg Pincus for Rs 4,630 crore. This news caused shares of the company to rise by more than 5%. On the BSE, the stock climbed 5.13 per cent to Rs 2,419 in value. It jumped 5% to Rs 2,417.85 each at the NSE. As per the agreement, Warburg Pincus would acquire SHF from each seller through its affiliate Mango Crest Investment Ltd.
May 14, 2024, 10:47 am IST
Q4FY24 Result Update – JTL Industries
“In line with our expectations, JTL Industries (JTL) reported a weak set of Q4FY24 numbers due to a sluggish demand environment ahead of the general elections. Revenue de-grew by 1%/18% YoY/QoQ to Rs 466 Cr, a 3% beat vs. our estimate, led by higher ASP. EBITDA de-grew by 30%/14% YoY/QoQ to Rs 37 Cr, (4% ahead of our estimate). EBITDA/t fell by 32% YoY (4% ahead of our estimate) to Rs 4,485/t. EBITDA/t recovered QoQ by 6% as VAP shares recovered to 24% in Q4FY24 from 20% in Q3FY24. The company’s PAT de-grew by 19%/2% YoY/QoQ, 26% ahead of our estimates. The beat against our estimate was led by higher other income and lower finance costs, D&A, and tax rates. With the phase-wise volume expansion in progress, we model Revenue/EBITDA/PAT CAGR of 37%/48%/46% over FY24/26E. We maintain our BUY rating on the stock and value JTL at 23x (Unchanged) of our FY26 EPS to arrive at our Mar’25 target price of Rs 260/share, implying an upside potential of 22% from the CMP,” said Axis Securities.
May 14, 2024, 9:23 am IST
Market Opens With Gains
Indian benchmark indices kicked off the trading week with gains, mirroring upbeat sentiments from global markets. At the opening bell, the Sensex surged by 189.54 points, equivalent to 0.26%, reaching 72,965.67, while the Nifty climbed 61.45 points, or 0.28%, to touch 22,165.50.
May 14, 2024, 9:09 am IST
Oil Prices Stable Ahead Of OPEC Report And Inflation Data
Oil prices maintained their recent gains as traders awaited the release of OPEC's market outlook and crucial US inflation data. Investors are closely monitoring signals from OPEC regarding potential supply curbs extension, while also keeping an eye on inflation figures that will shape expectations for monetary policy.
Brent crude remained above per barrel following a 0.7% increase on Monday, while West Texas Intermediate hovered near . Despite indications of refinery run cuts and a slight softening in the market indicated by narrowing timespreads, the monthly report from the cartel is anticipated to provide further insights. This report comes just ahead of the upcoming OPEC meeting where members will deliberate on policy decisions.
May 14, 2024, 9:07 am IST
Rupee Opens Flat
Rupee opens at 83.52/$ versus Monday's close of 83.53/$
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