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Nifty Faces Volatility as Banks Gain and FMCG Stocks Decline

Nifty tested 24,400 amid market volatility but closed off the day's low, with broader markets facing selling pressure. The NSE advance-decline ratio stood at 2:3, with FMCG, realty, and autos lagging, while banks and pharma gained. Key gainers included Ultratech, Shriram Fin, and SBI, while HUL and Hindalco were among the notable losers.
Moneycontrol
Bajaj Auto Limited Britannia Industries Limited HUL State Bank of India Nestlé India Limited M&M IND Nandita Khemka Yatin Mota Show more
Finance & Economy, Market Report
11:50 24.10.2024

UK business owners rush to liquidate firms amid tax hike fears

Thousands of solvent UK business owners are opting to wind up their companies to evade anticipated tax increases in the upcoming budget. This month, over 1,600 members’ voluntary liquidations have been recorded, more than double the total for October last year.
bloomberg.com
British Pound Sterling The Gazette GBR
Finance & Economy, Market Report
11:49 24.10.2024

SUVs maintain strong demand with zero discounts amid festive season sales

Several popular SUV models, including Hyundai's Creta, Mahindra's Thar and XUV3XO, Maruti's Ertiga, and Toyota's Hycross, are experiencing high demand, leading to zero discounts from dealers. This trend reflects a significant imbalance between production and demand, with SUVs accounting for 66% of total passenger vehicle sales in Q2 FY25.
Moneycontrol
Hyundai Motor Company Mahindra & Mahindra Limited Toyota Motor Corporation Maruti Suzuki India Limited IND Ravi Bhatia Show more
Finance & Economy, Market Report
11:48 24.10.2024

CARE Ratings shares surge 20 percent on strong Q2 financial results

CARE Ratings surged 20% to a 52-week high of Rs 1,409 on October 24, following strong Q2 results. The company reported a 31% YoY increase in consolidated profit after tax to Rs 46.88 crore, with revenue from operations rising 22% YoY to Rs 117.37 crore. The impressive performance was driven by growth in both its core ratings business and new non-rating verticals, with EBITDA climbing 33% YoY to Rs 55.72 crore and an EBITDA margin of 47%. Management highlighted momentum in initial ratings for capital market instruments and noted a slowdown in lending to NBFCs and personal loans due to higher risk-weighting norms.
Moneycontrol
Indian Rupee CARE Ratings Limited IND
Finance & Economy, Market Report
11:43 24.10.2024

GZO proposes debt restructuring amid bondholder concerns over hospital's future

The GZO's restructuring plan proposes a significant two-thirds write-off of creditor claims, aiming to avoid bankruptcy while addressing a substantial need for depreciation and equity injection. Bondholders express skepticism, as the estimated estate dividend for creditors is only 30-35%, raising concerns about the long-term viability of hospital financing in Switzerland. A decision on the restructuring's suitability will be made by the end of the year, with implications for the broader healthcare financing landscape.
finews.com
Swiss Franc PWCI AG CHE Jörg Kündig Kurt Hess Hansjörg Herren Natalie Rickli Gregor Greber Show more
Finance & Economy, Market Report
11:42 24.10.2024

ENPAM joins Green Arrow Capital to enhance sustainable investment strategy in Italy

Green Arrow Capital has welcomed ENPAM, Italy's largest private pension fund for physicians and dentists, into its shareholder structure through a reserved capital increase. This partnership aims to enhance GAC S.p.A.'s growth strategy and competitive positioning in alternative and sustainable investments, with a focus on the real economy. ENPAM's investment aligns with its goal of diversifying its portfolio while supporting initiatives beneficial to its members.
advisoronline.it
Euro Intesa Sanpaolo S.p.A. ITA Alessandro Di Michele Eugenio de Blasio Alberto Oliveti Daniele Camponeschi Show more
Finance & Economy, Press Release
11:41 24.10.2024

Keurig to acquire Ghost Energy Drinks for over one billion dollars

Keurig Dr Pepper Inc. has agreed to acquire Ghost Energy Drinks for over $1 billion, according to the Wall Street Journal. The initial cash investment will be approximately $990 million for a 60% stake, with plans to purchase the remaining 40% by 2028. Ghost is known for its unique flavors, including Sour Patch Kids and Warheads.
Bloomberg.com
United States Dollar Keurig Dr Pepper Inc. USA
Finance & Economy, News Article
11:31 24.10.2024

traders anticipate trump's policies will worsen inflation and mortgage rates

Many Americans are frustrated with high consumer prices and mortgage rates, a sentiment that could bolster Donald Trump's chances in the upcoming election. However, markets suggest that his potential policies may exacerbate the cost-of-living crisis, with mortgage rates rising to 7.09% and Treasury yields climbing to 4.24%.
Bloomberg.com
United States Dollar Bankrate.com USA
Finance & Economy, Market Report
11:30 24.10.2024

euro hedging costs reach highest level since 2017 ahead of us elections

Hedging the euro has reached its highest cost since 2017 as the US presidential elections approach, with polls indicating a tight race. A key options-market measure shows that expectations for future currency volatility are significantly elevated, reflecting overpriced hedging costs.
Bloomberg.com
United States Dollar Euro Apple Inc. FRA
Finance & Economy, Market Report
11:29 24.10.2024

Fedbank Financial Services receives buy rating with revised target price of 130

ICICI Securities has maintained a BUY rating for Fedbank Financial Services, setting a revised target price of Rs 130, down from Rs 184. The company faces challenges from management changes, RBI regulations, and elevated credit costs, but has shown resilience with a GNPL of less than 1% over the past eight quarters. Despite trimming earnings estimates for FY25 and FY26, the valuation remains attractive at 1.1x FY26E BVPS.
Moneycontrol
Indian Rupee The Federal Bank Limited IND
Finance & Economy, Market Report
11:27 24.10.2024
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