The Asian markets have opened higher with some caution after a poor show from the US indices across Wall Street. The Nikkei 225 index in Japan is surging with gains of close to 2% or around 1.70%. Meanwhile, another Tokyo index, the TOPIX, after slipping in early trading, picked up pace, rising nearly half a…
Global brokerage firm Macquarie has initiated coverage on National Stock Exchange of India (NSE) with an ‘Outperform’ recommendation and a price target of ₹1,965 per share. The target implies an upside of around 10% from NSE’s IPO price of ₹1,785 per share. Macquarie has termed NSE “The Dominator”, citing its leading market share and strong…
Brokerage firm Macquarie has initiated coverage on five capital market names on Thursday, September 24, of which it has a “outperform” or a “buy” equivalent recommendation on four of them. Macquarie has initiated coverage on the National Stock Exchange (NSE), which makes its stock market debut today, the Bombay Stock Exchange (BSE), MCX, Billionbrains Garage…
Shares of Patanjali Foods, AWL Agri Business and Godrej Agrovet will be in focus on Thursday, September 24, after the government reduced the basic customs duty on crude and refined edible oils, including palm oil, soyoil and sunflower oil. The duty cuts, effective September 24, are aimed at bringing down edible oil prices for consumers…
The dollar clung to a two-month high on Thursday (September 24) after a strong manufacturing reading reignited inflation fears and rate-hike bets, while a weak Treasury auction sent yields higher across the curve, providing fresh impetus to the US currency. The broad dollar strength pushed the euro to $1.1378, a two-month low, while sterling languished…
As many as 48.79 lakh shares of Sedemac Mechatronics Ltd., a recent listing, changed hands in a large transaction that took place on the exchanges on Thursday, September 24. The number of shares that changed hands amount to 11% of the company’s outstanding equity. Shares changed hands at an average price of ₹3,010 per share,…
The initial public offering (IPO) of Gujarat-based iron and steel manufacturer German Green Steel and Power will open for subscription on Friday, September 25. The issue will close on September 29. The company has fixed the price band at ₹132 to ₹139 per equity share and will raise ₹303.9 crore at the upper end of…
Asian markets edged higher on Friday, September 25, even as a global bond selloff and elevated oil prices, which stoked inflation fears, pushed long-term US Treasury yields to their highest levels in decades. This reinforced bets on further US Federal Reserve rate increases. The region’s equities rose over 0.2% in early trade despite the pressure…
Shares of homegrown e-commerce platform Meesho Ltd. will be in focus on Friday, September 25, after global brokerage firm Nomura initiated coverage on the stock with a ‘Reduce’ rating and a price target of ₹167 per share. The target implies a potential downside of 28% from the stock’s last closing level on Thursday. In its…
The initial public offering (IPO) of Orient Cables (India), a Gurugram-headquartered manufacturer of networking cables and passive networking equipment, will open for subscription on Friday, September 25, and close on September 29. Ahead of the issue opening, the company has mobilised ₹165.6 crore from 14 anchor investors. Orient Cables on September 24 allotted 60.88 lakh…
