The Indian rupee opened marginally higher by 1 paise at 95.70 against the US dollar on Thursday (June 4), compared with its previous close of 95.71, even as persistent foreign fund outflows, elevated crude oil prices and geopolitical tensions in the West Asia kept pressure on the currency. Foreign portfolio investors sold nearly $600 million…
Shares of Angel One Ltd. are trading higher today, after the broking firm reported its business update for the month of May on Thursday, June 4. The company’s client base increased by 1% on a month-on-month basis to 38.17 million from 37.79 million in April. On a year-on-year basis, the metric grew by 19.5%. Gross…
Hola! It’s the weekend, you’ve just managed to get through a really exhausting week, but want to know how the markets were. But don’t know where to begin? Don’t worry, we have you covered! Starting today, every weekend, we’ll bring to you MARKETS ESPRESSO, the CNBC-TV18 Newsletter that summarises all the big market voices through…
Dipan Mehta, Director at Elixir Equities, said new-age IT firms such as Happiest Minds, Persistent Systems and Coforge are well placed to benefit from the AI-led disruption in technology services. He also favoured diversified NBFCs over banks and highlighted opportunities in mining companies like NMDC and Hindustan Copper. However, he cautioned that elevated crude oil…
Shares of Indian Energy Exchange Ltd. (IEX) gained in Thursday’s trade after the company reported robust operating metrics for May. IEX recorded traded electricity volumes of 12,983 million units (MUs) during the month, marking an 18.6% increase compared to the same period last year. The average market clearing price in the Day-Ahead Market (DAM) stood…
Shares of ICICI Bank Ltd. have recovered from the day’s low on Thursday, June 4, and are trading with gains. In a note, brokerage firm Motilal Oswal Financial Services has projected a 41% upside on the country’s second-largest private lender Motilal Oswal has a “buy” rating on ICICI Bank with a price target of ₹1,750…
India remains one of the most attractive destinations within emerging markets for long-term investors, according to William Lee, Chief Economist and Managing Director of Global Economic Advisors. While short-term capital flows may be influenced by market cycles, currencies and technology trends, he argues that India’s democratic framework, infrastructure development and improving strategic position are likely…
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon plans to discuss the upcoming SpaceX initial public offering with thousands of the bank’s high-net-worth clients this week, part of an unprecedented nationwide push in coordination with the rocket maker’s leaders. Dimon will host a “live interactive discussion” Thursday from JPMorgan’s headquarters, according to invitations seen…
Investment made by Foreign Institutional Investors (FIIs) in government securities (G-Secs) is likely to be exempt from all taxes, sources in the know told CNBC-TV18, on Thursday, June 4. The news has also been reported by multiple other news outlets. According to the sources, the government is likely to bring an ordinance to implement this…
Kuku Technologies Ltd, which operates vernacular audio platform Kuku FM and short-video streaming app Kuku TV, has filed confidential draft papers with Sebi for an IPO to raise up to ₹3,000 crore, according to sources. The company is planning to raise between ₹2,500-₹3,500 crore and is targeting a valuation of up to ₹15,000 crore (about…
