Newgen Software's shares rose over 3% after securing a Rs 32.45 crore order from the Reserve Bank of India to implement and maintain the Regulatory Application Management System (RAMS). For the September quarter, the company reported a 47% increase in consolidated net profit to Rs 70.3 crore and a 14.8% rise in revenue from operations to Rs 361.2 crore. The contract will be executed over seven years and complies with the Companies Act, 2013.
PC Jeweller shares rose by 4.08% to Rs 162.60 on November 29 after the company announced December 16 as the record date for a 1:10 stock split. Each equity share with a face value of Rs 10 will be divided into ten shares with a face value of Re 1.
Furniture once belonging to Pierin Vincenz, the former head of Raiffeisenbank, has surfaced for sale under the name of his ex-wife, Nadja Ceregato, on a classifieds platform. This follows Vincenz's financial troubles stemming from ongoing legal issues, including embezzlement investigations and impending foreclosure of his villa. The listings, which included high-end items, vanished after attracting media attention.
05:00 29.11.2024
Prince Pipes, the fifth-largest plastic pipe manufacturer in India, has seen its stock correct approximately 50% from all-time highs, driven by underwhelming financial performance and market sentiment. The company’s quarterly results reflect improved realizations, and medium-term prospects are bolstered by government spending on housing and infrastructure, alongside potential anti-dumping duties on PVC resin imports. With a capex guidance of Rs 330-350 crores for FY25, the recommendation is to accumulate shares for both short-term and long-term gains.
Dalian Wanda Commercial Management Group Co., China's largest mall operator, plans to establish a fund between 50 billion to 90 billion yuan ($6.9 billion-$12.4 billion) to address taxes and debt. The fundraising effort is expected to be completed by 2025, as the company seeks to navigate the ongoing property crisis without public defaults.
Raiffeisen Bank shares rose to EUR 17.57, crossing the 100-day moving average on November 28, 2024, despite a long-term downtrend since November 27, resulting in a -0.54% value loss. The current distance to the 200-day line is -0.45%, indicating potential volatility ahead.
04:58 29.11.2024
Allegations of market manipulation during a A$14 billion government bond sale have prompted Australia’s debt chief to consider changes in fundraising practices. The Australian Office of Financial Management is now pre-announcing the size of large offerings and engaging closely with deal managers to ensure compliance with government interests. Additionally, potential adjustments to the pricing of syndicated issuance are under review.
Marine Le Pen has criticized the proposed French budget as “bad, unjust, and violent,” raising concerns about potential economic and political instability. Her actions could threaten the stability of Michel Barnier’s government and the Eurozone as a whole. Meanwhile, Brussels is set to approve spending plans for all countries except the Netherlands due to disagreements over public spending figures.
Japanese corporate borrowers are accelerating bond sales amid rising speculation that the Bank of Japan may increase interest rates next month. Major telecom firm KDDI Corp. led the charge with a ¥210 billion ($1.4 billion) bond sale, while Daiwa Securities and Panasonic were also among the eight issuers active in the market.
The EU plans to reduce embassy staff globally due to budget constraints, focusing on nations of primary interest. Amidst internal turmoil, leaders are struggling to formulate a unified response to the Trump presidency, with discussions on economic challenges and potential trade strategies ongoing.
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