Latest Stock Market News

IL&FS to sell custody & depository unit

Updated at : 2023-09-13 07:05:02

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IL&FS is selling its custody and depository business, IL&FS Securities Services (ISSL), and potential buyers can bid for either the custody or depository business separately or both together. ISSL is a non-bank custodian and has a depository license. The Reserve Bank of India no longer grants custodial licenses to non-banks, making ISSL an attractive proposition for entities looking to enter the business.

IndiaFirst Life launches single premium plan

Updated at : 2023-09-13 07:05:02

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The IndiaFirst Life Guaranteed Single Premium Plan — a nonlinked, non-participating, individual, single premium savings plan offers policyholders guaranteed returns over up to 30 years. It is aimed at people who want to save for retirement and legacy planning.

The Nifty Midcap 150 index dropped 3% and Nifty Small-cap 250 fell 3.9%, Nifty Microcap 250 declined 5.2% on Tuesday - their biggest single-day declines since December 23, 2022.

Analysts on the road ahead for mid- & small-caps

Updated at : 2023-09-13 07:05:02

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​We are in a structural bull market depicted by the acceleration of upward momentum in broader market post breakout from the fi ve-year consolidations of the Nifty Midcap vs. Nifty ratio line.

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"The reason the market saw no panic selling is there is low trader interest and positioning in these stocks, in the segment," said Rohit Srivastava, Founder, Indiacharts.com. "IT is going to do better backed by a good global tech environment and strong NASDAQ, and will continue to pick up."

The homegrown fund, which counts Barbeque Nation and Altigreen among its portfolios, launched the fund in early 2022. The Fund II has its investors including Indian family offices, domestic financial institutions, corporates, insurance companies and the Fund of Funds program managed by Small Industries Development Bank of India

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The homegrown fund, which counts Barbeque Nation and Altigreen among its portfolios, launched the fund in early 2022. The Fund II has its investors including Indian family offices, domestic financial institutions, corporates, insurance companies and the Fund of Funds program managed by Small Industries Development Bank of India

Brent futures rose $1.64, or 1.8%, to $92.28 a barrel by 11:15 a.m. EDT (1515 GMT). U.S. West Texas Intermediate (WTI) crude rose $1.91, or 2.2%, to $89.20

The company has fixed a price band of 938-1035 per share, where investors can bid for 14 shares in one lot. RR Kabel is a leading player in the Indian consumer electrical industry comprising wires and cables and fast-moving electrical goods (FMEG), with an operating history of over 20 years in India.

Amid sticky global inflation and higher interest rates, India (Nifty) currently trades at a valuation of nearly 21 times one-year forward PE, which is the highest among all the emerging markets and even higher than most of the developed markets

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