Stock Market LIVE: Indices to remain under pressure at start: SGX Nifty in red

Continued evidence of strength in the US labour market fueled speculation among investors that the Fed has room to keep raising rates, which might push the global economy into recession.

06 Jan 2023, 08:27:08 AM IST

Ashish Kacholia buys stake in multibagger stock that has surged 3000% in 7 years

Shares of Raghav Productivity Enhancers Ltd are one of those stocks on Dalal Street that have delivered a whopping return to its shareholders in the last few months. It is one of the multibagger stocks that the Indian stock market has produced in recent years. However, it seems that some steam in the scrip is still left. As per the shareholding pattern of Raghav Productivity Enhancers Ltd for October to December 2022 quarter, the names of Ashish Kacholia and Mukul Agrawal have appeared in the list of individual shareholders of the company. This means Raghav Productivity Enhancers share has entered Ashish Kacholia’s portfolio and Mukul Agrawal’s portfolio. (Read More)

06 Jan 2023, 08:21:29 AM IST

Bitcoin, ether, other crypto prices today fall; Cardano gains

In cryptocurrencies, bitcoin price today slipped with the world’s largest and most popular digital token trading flat with a negative bias at $16,819. Overall, the global cryptocurrency market cap today remained below the $1 trillion mark, as it was down in the last 24 hours to $850 billion, as per the data by CoinGecko.

“The price of Bitcoin has remained below $17,000 due to market volatility following the recent Federal Open Market Committee’s (FOMC) minutes. The FOMC has indicated that it will maintain interest rate hikes, which has caused market participants to react. The current support level for BTC is at $16,800, with resistance at $16,900 and $17,000,” said chief executive officer (CEO) and Co-founder, Edul Patel, Mudrex. (Read More)

06 Jan 2023, 08:15:53 AM IST

Stocks to Watch: RIL, NTPC, IDBI Bank, Godrej Consumer, L&T, Rail Vikas Nigam, Lupin, RHI Magnesita, Dharmaj Crop Guard, Kewal Kiran Clothing

Indowind Energy and OCL Iron and Steel will be among the stocks in focus as they declare their December quarter earnings today. Indices continued their downward spiral for the second day on Thursday as it shed 0.5%. (Read More)

06 Jan 2023, 08:05:45 AM IST

RVNL bags project worth ₹166 crore from Gujarat Metro Rail Corp

State-owned Rail Vikas Nigam Ltd (RVNL) on Thursday said that it has bagged a project worth 166 crore from Gujarat Metro Rail Corporation (GMRC).

The project is expected to be completed within 22 months.

“Rail Vikas Nigam Ltd (RVNL) – ISC Projects Private Limited JV’ has received LOA (Letter of Acceptance)… for design, supply, installation, testing and commissioning of ballastless track from Sarthana to Dream city in elevated and underground sections, including connecting lines to depot along with ballasted/ballastless/ embedded standard gauge track for corridor-1, Surat Metro Rail Project, Phase-1,” the state-owned firm said in a BSE filing. (PTI)

06 Jan 2023, 07:52:53 AM IST

Digital competition bill  may  reach  House in monsoon session

The ministry of corporate affairs (MCA) has accepted the suggestion from the Parliamentary standing committee on finance to bring a new law to police Big Tech and has started work in this area with the idea of tabling a bill in the monsoon session of Parliament, a person informed about the discussions in the government said.

The proposed new law will only apply to large digital firms identified based on parameters like core services, market size, number of business users, consumer traffic on their platform and the volume of transactions. The EU legislation specifies that a set of core service providers, including certain messaging services, video-sharing platforms, cloud computing services and operating systems, who meet market and end user-based thresholds, will be designated as digital gatekeepers. (Read More)

06 Jan 2023, 07:44:53 AM IST

Sah Polymers IPO: What GMP signals as all eye set on share allotment date

After the closure of bidding for the IPO (Initial Public Offering) of Sah Polymers, bidders are eagerly waiting for the finalisation of share allocation. As per the tentative schedule of the public issue worth 66.30 crore, Sah Polymers IPO allotment date is most likely on 9th January 2023.

Meanwhile, due to weak sentiments on Dalal Street, grey market sentiments in regard to the public issue have dropped drastically in the last 60 hours. According to primary market observers, shares of Sah Polymers are available at a premium of Re 1 in the grey market today. (Read More)

06 Jan 2023, 07:34:11 AM IST

Buy or sell: Vaishali Parekh recommends 2 stocks to buy today

Vaishali Parekh of Prabhudas Lilladher has recommended two stocks to buy today, here we list out full details in regard to those intraday stocks for today:

1] Zydus Life: Buy at 432, target 450, stop loss 425; and

2] Coromandel International: Buy at 902, target 942, stop loss 890. (Read More)

06 Jan 2023, 07:33:17 AM IST

Manchester City inks deal with Mukesh Ambani’s Reliance Jio to spur India push

Mukesh Ambani’s Jio Platforms Limited (Jio) entered into a regional partnership with Manchester City on 5 January, enabling India’s leading digital services brand to become the Club’s Official Mobile Communications Network Partner in the country. Man City’s OTT platform CITY will be integrated into the JioTV platform providing fans in India further access to exclusive club content including match highlights, live Manchester City Women’s team and others, according to the agreement. (Read More)

06 Jan 2023, 07:31:08 AM IST

IT firms set to beat earnings forecasts for December quarter

The Indian information technology (IT) services industry, which typically sees a seasonally weak December quarter every year, may beat Street expectations this time, say experts. The large-cap IT firms were earlier expected to report a weak December quarter amid concerns around inflation in the key western markets of the US and Europe. (Read More)

06 Jan 2023, 07:29:35 AM IST

Wall Street stocks end the day lower on Thursday with the labour market in focus

US stocks closed lower as continued evidence of strength in the labor market fueled speculation the Federal Reserve has room to keep raising rates. Short-dated Treasuries fell.

The S&P 500 and the Nasdaq 100 each lost more than 1% after hiring numbers surpassed estimates in a private payrolls report and new claims for unemployment benefits unexpectedly fell last week. The policy-sensitive, two-year Treasury yield climbed the most in a month. The dollar strengthened versus major peers.

Dovish comments from St. Louis Fed President James Bullard, who said rates are getting closer to a sufficiently restrictive zone, briefly improved sentiment but were not enough to divert focus from hiring data. The Fed has suggested that a tight labour market remains a threat to its efforts to slow inflation, ramping up the stakes for government employment figures due early Friday.

At the same time, officials remain worried that financial conditions could get too loose to effectively crimp economic growth, even after the Fed embarked on the most aggressive tightening campaign in decades. (Bloomberg)

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