The sell-off seen in shares of KPIT Technologies Ltd. on Wednesday, July 1, has also impacted its fellow ER&D companies, Tata Elxsi Ltd. and Tata Technologies Ltd., both of which have extended their losing streak. Shares of Tata Elxsi are trading with losses of 5% and are the second-worst performers on the Nifty 500, after…
A fresh RBI notification on the surrender of NBFC registrations. issued on the evening of June 30, just a day before its new Upper Layer norms were to kick in, may complicate the reprieve narrative that has been building around Tata Sons. On June 30, the RBI put out a press release revising the application…
Shares of Havells India Ltd., Page Industries Ltd. and Titan Company Ltd. gained up to 4% on Wednesday, July 1, after brokerage firm Citi upgraded its rating on these stocks to “buy”. Citi upgraded its rating on Havells India to “buy” from its earlier rating of “neutral.” For Page Industries, the brokerage has issued a…
Kotak Institutional Equities has removed capital goods stocks such as ABB India, Siemens and Cummins India from its model portfolio after a sharp rally pushed valuations beyond comfortable levels, according to Sanjeev Prasad, Managing Director and Co-Head of Kotak Institutional Equities. Prasad said Kotak continues to see a long-term opportunity in themes such as electrification,…
China’s manufacturing section recorded its strongest quarterly performance since late 2020, although growth eases marginally in June, indicating that factory activity remains resilient even as broader economic conditions remain fragile. The RatingDog China Manufacturing Purchasing Managers’ Index (PMI) edged down to 51.7 in June to 51.8 in May. While the reading fell short of market…
HDFC Bank Ltd. on Saturday, July 4, reported its business update for the first quarter of the financial year 2027. The lender witnessed an increase across gross advances, deposits, advances under management. Its gross advances came in at ₹30.61 lakh crore, up 15.4% from last year. HDFC Bank’s deposits (period end) were up 147% at…
The government has extended the validity of tariff rate quota (TRQ) authorisations issued for gold imports under the India-UAE trade pact for FY 2025-26 until September 30, giving importers additional time to utilise their licences. The Directorate General of Foreign Trade (DGFT), in a public notice, said the extension would apply automatically to all TRQ…
A sharp slowdown in the US jobs market spurred gains in most stocks on Wall Street amid speculation the Federal Reserve won’t be forced to raise interest rates any time soon. The Dow Jones Industrial Average climbed 1.1%, hitting all-time highs. While the vast majority of shares in the S&P 500 rose, the gauge closed…
Shares of Coal India Ltd. will be in focus on Thursday, July 2, after global brokerage UBS reiterated its bullish stance on the state-run miner and assigned the highest price target on the Street. UBS maintained its ‘Buy’ rating on Coal India with a price target of ₹550, the highest among the 25 analysts tracking…
The Indian rupee opened stronger on Thursday (July 2) at 94.93 against the US dollar, compared with Wednesday’s (July 1’ss) close of 95.25/$, marking a recovery of 32 paise in early trade. The rebound was aided by a continued decline in global crude oil prices, which provided temporary support to the domestic currency after a…
