BUSINESS
Sensex @1 lakh in five years: Greed & Fear
Jefferies analyst, Wood in his column said the Sensex will hit 100,000 during FY27 or sometime in late 2026 based on such assumptions. The Sensex is currently 58,788. This may seem an aggressive assumption. But in GREED & fear experience India has always been a stock market for growth investors with the multiple to go with it.
Equity settles low; Nifty realty, PSU bank, media, auto in red
Also, subdued global cues weighed on the broader market sentiment on Friday. Thus, Sensex settled at 58,644 points, down 0.2 per cent or 143 points, and Nifty at 17,516 points, down 0.3 per cent or 43 points. Among the sectoral indices, Nifty realty, PSU bank, media, and auto declined sharply during the session, while Nifty FMCG, IT, and metal rose.
'Refund homebuyers before Feb 28', SC on Supertech twin tower demolition
Senior advocate S. Ganesh, representing Supertech, submitted that there are 38 impleadment applications have been filed seeking refund of the amount. "We had a meeting with the amicus and the amount agreed will be paid to them. It will be paid on or before February 28," said Ganesh.
IL&FS sells stake in WCBTRL, resolves Rs 324 cr group debt
Accordingly, the stake was sold to IL&FS' majority joint venture partner Vishvaraj Infrastructure Limited (VIL). "The sale entails VIL taking over entire external debt of WCBTRL amounting to Rs 306 crore, providing equity value of over Rs 12 crore and settling IL&FS Group dues amounting to Rs 6 crore - thereby resolving Rs 324 crore from the overall IL&FS Group debt of approx. Rs 99,000 crore, as of October 2018,"
Subdued global cues dent equities; realty stocks fall
At the start of the day's trade, the two indices opened almost flat but rose in the initial minutes to make intra-day high. However, they fell soon after and made an intraday low post noon. Globally, Asian stock markets were mostly subdued following the broadly negative cues. On the domestic front, volumes on the NSE are below recent averages. Amongst sectors Metals led the gainers while Realty, Banks and Auto indices fell the most.
India's PSBs expected to source capital to be competitive
Accordingly, the ratings agency said that the state is inclined to place the burden of raising growth capital on its banks, as indicated by a lack of capital allocation for state banks in the government's latest budget. "This lack of capital allocation arguably indicates the government's belief that bank financials will remain healthy in the near term, enabling banks to support capital adequacy by sourcing fresh capital on their own," Fitch said.
Urban unemployment rate at 6.9% in 2019-20: Union Minister
The joblessness rates in 2017-18 and 2018-19 were 7.7 percent and 7.6 percent respectively. The data on employment and unemployment is collected through the PLF Survey conducted by National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) since 2017-18. The minister said in Rajya Sabha that the government has launched All-India Quarterly Establishment Based Employment Survey (AQEES) in April 2021.
Equities steady in morning session, ONGC top gainer
Thursday's decline was due to profit booking by investors after sizable gains earlier in the week. At 09.37 a.m., Sensex traded at 58,790 points, Nifty at 17,565 points, both largely steady from the previous close. The ONGC, Tata Steel, Hindalo, JSW Steel, and Grasim Industries were among the top gainers, while Titan, Hero Motocorp, Tata Consumers, Eicher Motors, and Bajaj Auto were the top losers, NSE data showed.
India's power demand expected to grow 6-7% in FY23: Ind-Ra
It said that impact of the third Covid wave on power demand remains lower, given the less stringent curbs imposed by state governments. "Although any stringent lockdowns in case of the emergence of any strong Covid wave could derail the growth in power demand," the agency said in a report. On the other hand, Ind-Ra pointed out that coal availability could pose a risk to overall demand and thus, PLF recovery, given higher reliance on domestic coal as international prices remain high.
ED attaches Rs 268.66 crore assets in bank fraud case
The alleged accused had purchased movable and immovable assets in Bangladesh, Thailand and in Austria by diverting the loan account, ED said on Thursday. The ED initiated money laundering investigation on the basis of the FIR registered by the CBI, BS&FC, Bangalore against Agnite Education Limited (Formerly Teledata Informatics Limited) and its directors K. Balasubramaniam and K. Padmanabhan.
Don't Miss
Advertisement