Latest Stock Market News

According to the latest shareholding pattern available with the exchanges, mutual funds have a combined stake of 11.90%. Apart from the above three funds, HSBC Value Fund has 1.46% stake in the company and Franklin India Flexi Cap Fund owns 7.39%. Meanwhile, retail investors own nearly 17%.

When global central banks were just about to make a U-turn from their jumbo hiking in Q3 2022, the gold finally bottomed out. At that time, USD was weakening against DM and EM currencies, and that helped gold prices to rise in USD terms.

In a recent exchange filing, the company said it has achieved a new milestone in offline payments with the deployment of 6.8 million Paytm payment devices like Soundbox and PoS. In just one year, the company has gone to 6.8 million devices deployed from 2.9 million devices a year ago.

For more such web stories click on the ET

The lack of international cooperation has made it challenging for regulators to effectively govern the sector. Different countries have their own approaches to regulation, leading to a patchwork of regulations that can be confusing for investors and businesses alike.

"Bitcoin surged above the US$30,800 level in the past 24 hours as crypto markets continued to react to the latest US inflation report. The support for BTC is located at the US$30,400 level, while resistance lies at the US$30,800 level," Edul Patel, Co-founder and CEO at Mudrex, said.

We estimate slippages to remain under control, which, along with recoveries, should improve the asset quality. The restructured and ECLGS books have been resilient, which along with a low SMA book will keep credit costs under control in FY23. Though, we expect a slight uptick in credit costs in FY24.

Global markets too are facing recession headwinds and global GDP growth is likely to be at multi-year lows in CY’23. That said, we have undergone a reasonable time correction of a year and a half.

Money markets are pricing in a 69% chance the Fed will raise interest rates by 25 basis points next month, though a series of cuts are also being priced in from July through to the end of the year, with rates seen just above 4.3% in December.

“Banks, from a slightly longer-term perspective, are in a bit of a sweet spot. When I say banks, I mean, lending financials. The reason I say so is if you look at where they stand today relative to where they come from over the last three-four years, you will notice that they have gone through a large NPA cycle which is now reversing. ”