BUSINESS
Nifty Pharma Index Hits 52-Week High Amidst Market Trends
According to Vaibhav Vidwani, Research Analyst at Bonanza Portfolio, Nifty Realty and Nifty IT emerged as the standout performers, showing respective gains of 2.55% and 2.27%.
Indian Startups Witness Over 35,000 Job Losses, Continued Cuts Expected in 2024
The year 2022 saw a significant workforce reduction within Indian startups, with more than 18,000 employees being let go, spanning various sectors.
Cut in Customs Duty on Edible Oil Imports Continues for Another Year
Initially implemented in June to counter soaring prices, the reduction saw a decrease in the basic customs duty on crude palm oil, crude sunflower oil, and crude soyoil from 17.5 percent to 12.5 percent until March 2024.
India's Forex Reserves Hit 20-Month High, Surge to $615.97 Billion
The significant increase of $9.11 billion in reserves for the week ending December 15 follows a rise of $2.82 billion to $606.86 billion in the previous week ending December 8.
Shares of Polycab India Plunge Following Tax Authorities Raid on Company
The raids encompassed the residences and offices of the top management, prompted by suspicions of tax evasion. Polycab's shares observed a decline of 5.04 percent, trading at Rs 5,335 on the National Stock Exchange (NSE), while on the Bombay Stock Exchange (BSE), the stock hit a low of Rs 5,404 during the day's trading.
‘Allowing LIC time period of 10 years is a welcome step’
He said that the sale stake in LIC would have released a supply of around 40 crore shares of LIC in the market.
CEA Emphasizes Need for Transparent, Fair Practices by Global Credit Rating Agencies for Developing Nations
In a published document titled "Re-examining Narratives: A Collection of Essays," Nageswaran pointed out the opacity in credit rating methodologies.
Financial sector courts multiple risks as it turns to AI for innovation, efficiency
Established in 2010 under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Financial Stability Oversight Council provides comprehensive monitoring of the stability of US financial system.
Nifty Midcap100 Records 44% Surge, Nifty Smallcap100 Soars 54% in Impressive Market Performance
The positive developments led to upgrades in India's rating and GDP growth forecasts by various global firms, resulting in BSE-listed companies' market cap crossing the all-time high of $4 trillion. The NSE also surpassed the Hong Kong stock exchange to become the world's seventh-largest exchange by market cap.
Broader market rally cannot continue for long, warn analysts
Retail exuberance and sustained flows into the mid and small-cap mutual funds are driving this rally, which has slipped into a frothy zone. This broader market rally cannot continue for long, he said.
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