Market Walk
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India will buy crude oil and other commodities from Russia | Today’s Share Market Update
India’s CPI inflation for Feb-22 came in higher than expected at 6.07% India’s CPI inflation for Feb-22 came in higher than expected at 6.07% even as the WPI inflation also was much higher than anticipated at 13.11% for Feb-22. It was largely an outcome of the surge in crude prices and its downstream effect. In fact, wholesale inflation has been…
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EPFO Interest – It is time to rationalize provident fund yields to much lower levels
During the week, the board of the EPFO (Employee Provident Fund Organization) announced interest rates on PF at 8.1% for FY21-22. This is the lowest rate of interest offered since 1977. In a way, the EPFO is on the right track and it just needs to cut EPFO rates much faster. Why EPFO still pays so much? The EPFO is…
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IPO Pricing -Is there any way to justify IPO pricing beyond a point?
In the last few days, the SEBI has been quite explicit about tightening the IPO pricing norms. To begin with, SEBI will insist on greater transparency on price and more stringent disclosure needs. How useful is this move likely to be? More transparency is better There are no two questions about that. Any move by the regulator that brings about…
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Fed Meet – Why the US is likely to tread cautiously in the Mar-22 FOMC meet?
The Federal Open Market Committee is to meet on 15th and 16th of March in its most important Fed meet in a long time. Here is what will drive the decision and the guidance given by the US Fed. Yes, inflation needs an answer There are no two opinions about that. The rate of inflation at 7.9% for Feb-22 is…
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Ruchi Soya stock hits upper circuit of 20%, here’s why
Shares of Ruchi Soya zoomed 20 per cent in early trade today after the board of edible oil major approved the red-herring prospectus (RHP) for its follow-on public offer (FPO) of around Rs 4,300 crore. The FPO will be launched in the capital market on March 24. Ruchi Soya stock opened with a gain of 6.76% at Rs 858 against…
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India’s gold imports surged 73% to $45.10 billion | Latest Stock market news
The SGX is showing a flat to a negative start At 7:30 IST, the Nifty futures were trading lower near the 16,564 level on the Singapore Exchange. Asian markets are trading mixed, while US markets closed lower on Friday. DIPAM has confirmed that the current IPO approval given by SEBI for the LIC IPO is valid till 12th May The…
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Sachin Bansal’s Navi Technologies files DRHP for Rs 3,350-crore IPO
Sachin Bansal-led Navi Technologies has filed preliminary papers with Sebi to raise Rs 3,350 crore through an initial public offering (IPO). The proposed IPO is completely through a fresh issue of equity shares and there will be no offer-for-sale (OFS), according to the draft red herring prospectus (DRHP). Flipkart co-founder Bansal, who has invested around Rs 4,000 crore into Navi…
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Unacademy eyeing IPO in next couple of years: Co-founder
Edtech firm Unacademy expects to go public in the next couple of years and is looking to make its core business of test preparation profitable in the next 12 months, a top company official said on Friday. Unacademy Group co-founder and CEO Gaurav Munjal also said the company is looking to expand its Relevel division — which is a test…
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Morgan Stanley cut its forecast for FY23 earnings growth by 8% | Latest Stock market News
US consumer inflation for Feb-22 came in at a 40-year high of 7.9% As expected, the US consumer inflation for Feb-22 came in at a 40-year high of 7.9%. With the sharp spike in oil prices in the recent past, analysts expect inflation to surge further in the coming months. On a sequential basis, the inflation was higher by 0.8%.…
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Wall St drops as inflation data cements rate hike bets; Dow slumps over 200 pts
Wall Street’s main indexes fell on Thursday, with technology stocks leading the declines after data showed consumer prices surged in February, cementing the case for an interest rate hike by the Federal Reserve later this month. The Labor Department’s report showed consumer prices shot up 7.9% year-on-year, the sharpest annual spike in 40 years. While the numbers matched economists’ expectations,…
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