Indian rupee hits record low amid dollar demand from foreign banks

The Indian rupee fell to a record low of 84.4150, driven by strong dollar demand from foreign banks and local importers, particularly oil companies. Despite this decline, intervention from the Reserve Bank of India, with state-run banks offering dollars, helped stabilize the currency. The dollar index rose slightly to 106.3, while Asian currencies showed mixed performance.

Brent crude oil silver and US wheat prices recover from recent lows

Brent crude oil prices surged over 3% from key support levels due to supply concerns stemming from a power outage at Norway’s Johan Sverdrup oilfield and escalating tensions in the Russia-Ukraine conflict. Spot silver rebounded from a recent low of $29.68, targeting resistance at $31.36, while US wheat prices bounced off a three-month low of 544, aiming for the late October low of 573.
10:00 19.11.2024

Allianz shares face resistance amid ongoing market correction analysis

Allianz shares showed initial strength but faced resistance near the October low of EUR 288.30, which was briefly surpassed. A successful break above this level could lead to a rise towards EUR 298.00 and the EUR 300 mark, while failure to hold above EUR 282.20 may trigger declines to lower support levels.
09:59 19.11.2024

metropolis healthcare reports strong q2 performance advises investors to hold stock

Metropolis Healthcare reported strong financial results for Q2 2024-2025, showcasing improvements in interest management, debt reduction, and cash flow generation. The company's Operating Profit to Interest ratio reached 18.76 times, while net sales hit Rs 349.79 crore, leading to a recommendation from MarketsMojo to hold the stock. Despite positive trends in profitability, challenges remain in short-term liquidity, with cash reserves at Rs 54.36 crore.

CESC targets growth with renewable energy and strategic investments

CESC"s consolidated PAT rose 1.4% y-o-y to Rs. 353 crore, driven by strong performances in Haldia and Dhariwal, despite a 5% decline in standalone PAT due to higher interest expenses. The company plans a significant renewable energy expansion with a capex of Rs. 12-13k crore over the next 4-5 years and has implemented a 5.7% tariff hike. Sharekhan maintains a Buy rating with a revised target price of Rs. 217, highlighting growth potential from renewable energy investments and a turnaround in the distribution business.

huawei"s chip ambitions hindered by us sanctions and technology restrictions

Huawei Technologies Co. faces significant challenges in advancing its chip technology for AI and smartphones due to US sanctions. The company is developing its next two Ascend processors using a 7-nanometer architecture, as restrictions hinder access to advanced lithography systems from ASML Holding NV.

Stadler Rail shares decline as UBS cuts price target and forecasts

Stadler Rail"s shares have declined for the eighth consecutive day following a price target cut by UBS. The company"s operating margin forecast for 2024 has been revised down by up to two percentage points, and projections for 2025 and 2026 have been suspended, exacerbated by delays in subway train deliveries in Berlin due to software issues.
09:52 19.11.2024

Vishal Mega Mart plans 8000 crore IPO amid strong investor interest

Vishal Mega Mart, backed by Kedaara Capital and Partners Group, is set to launch an Rs 8,000-crore IPO by mid-December 2024, following a revenue increase to Rs 8,911.9 crore from Rs 7,586 crore in the previous fiscal year. Initially planned for November, the IPO"s timeline was adjusted due to recent stock market corrections, but investor interest remains strong, driven by India"s consumption growth. The company is actively engaging with foreign institutional investors through roadshows in London and Singapore to boost interest.

tkb recognized for environmental leadership in banking sector sustainability efforts

TKB has been recognized for its strong environmental awareness, ranking among the top three banks for its effective measures in sustainability. The bank excels in promoting eco-friendly construction through advisory services and discounted mortgages, while also offering sustainable investment solutions. Additionally, TKB has set scientific climate targets and provides sustainability training for its advisors, as evaluated by the WWF across seven key areas of environmental compatibility.
09:43 19.11.2024

uth africans withdraw 2.8 billion dollars from pensions exceeding forecasts

South Africans have withdrawn 49.6 billion rand ($2.8 billion) from retirement funds since the introduction of a new two-pot pension system three months ago, nearly doubling the National Treasury"s estimates. This high withdrawal rate could potentially boost the country"s economic growth by up to 0.3 percentage points this year.
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