CEO OF 4 DAY WEEK GLOBAL
Hapag-Lloyd CEO sees solid shipping demand driving up freight rates
The demand trend, combined with the Red Sea re-routings and port congestion in Asia, have counteracted what could have turned into a looming oversupply picture in the world fleet this year, said Rolf Habben Jansen.
'Kalki 2898 AD' box office Day 4: Prabhas-Deepika Padukone starrer surpasses Rs 500 crore worldwide in debut weekend
'Kalki 2898 AD', directed by Nag Ashwin and starring Prabhas, Amitabh Bachchan, and Deepika Padukone, has made waves globally by crossing the Rs 500 crore mark within its opening weekend. The sci-fi epic garnered praise for its stunning visuals and compelling storyline, dominating both Indian and international box offices. With a strong debut, the film is set to redefine cinematic success with its projected earnings surpassing Rs 800 crore.
First day JPM flows not a deluge, but bankers confident of steady flow going ahead
From Thursday to Friday, foreign portfolio investors (FPIs) increased their holdings in the index-eligible Fully Accessible Route (FAR) suite of government bonds by Rs 1,545.16 crore, bringing the total to Rs 1.86 lakh crore, according to data from the Clearing Corporation of India Ltd (CCIL) released at 6 pm. This increase left traders somewhat disappointed, as some market segments had anticipated a surge exceeding Rs 10,000 crore on Friday alone.
Reliance shares jump over 4% to hit fresh 52-week high
Reliance Industries (Ltd) shares surged over 4% to hit a new intra-day high of 3,029 on Wednesday, boosting the benchmark Nifty by 144 points. Despite earlier losses post-election, RIL staged a strong recovery, erasing losses and gaining approximately 2.4%.
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 43%
While the indices might be witnessing correction on intra intra-basis, the broader markets are still very much under the control of the bulls. There is greater likelihood of bullish sentiment continuing, so be bullish but more than anything else in the long term what matters for a stock is earnings and valuation. So be selective, avoid impulsive investing, and keep reviewing one’s portfolio and stay away from penny stocks especially. It is very likely that some of the penny stocks will fly and be distributed amongst retail investors. We look at stocks which have witnessed a continuous rise in their score in the last one month. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Will Nifty touch 24,000 this week? Top 5 factors at play
After closing the previous week with a 0.75% gain, Nifty has maintained a narrow range of 23,200-23,500. A breakout above 23,600 could spur the index towards 24,000, contingent on developments surrounding the Union Budget and ministries' 100-day plans. However, recent Nifty movements indicate a likely period of consolidation
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5 world market themes for the week ahead
Central bank decisions in Britain, Switzerland, and Norway will show the rate cutting trend, while retail sales data from the US and China will indicate consumer health. Europe gears up for the Euros 2024 tournament in Germany. Investors are monitoring cocoa supply issues in Ivory Coast, Ghana, and other countries like Brazil.
India may lead the charge in global AI landscape: GitHub CEO
According to GitHub CEO Thomas Dohmke, India has the potential to surge to the forefront of the global AI landscape, driven by its rapidly expanding community of software developers. By 2027, this community is projected to surpass the United States as the world's largest, aligning with the transformative era of AI. Currently, India boasts 15.4 million active developers on the Microsoft-owned platform, marking a substantial 33% year-on-year growth.
See policy continuity even with coalition government: Gokul Laroia, CEO, Morgan Stanley Asia
Morgan Stanley's Asia CEO Gokul Laroia discussed Indian elections, markets, and risks with Nishanth Vasudevan before an investor conference.
India rate decision rounds off wild week
India's interest rate decision and Chinese trade figures are key events for Asian investors on Friday amid global political volatility and stock market highs.
Container shortage is shipping’s Achilles’ heel
An initial surge in freight prices — prompted by ships taking the much longer route around the Cape of Good Hope — petered out in March, yet prices have now surged even higher.
Citi's new banking head Viswas Raghavan begins as CEO hails his 'intensity'
Raghavan previously served as JPMorgan's CEO in the Europe, Middle East and Africa (EMEA) region, while also leading its investment and corporate banking and treasury services in the region. After joining JPMorgan in 2000, he held senior roles in debt and equity capital markets.
Rupee sees worst day in 7 weeks on importers' dollar demand, election risk
The Indian rupee logged its biggest daily decline against the U.S. dollar in nearly seven weeks on Wednesday, pressured by persistent dollar demand from importers and election-related risks.
Nifty down for 4th straight day but Amit Shah says don't link it to election
"Profit-booking is a routine phenomenon. Don't link it to elections. Those who are there for the short-term in the elections will obviously book profits. After a 1,200-1,300 point rise, going down is a very normal process. This happens 15-20 times in a year even without elections," he said when asked to comment on fears that the market may fall after election results are out on June 4.
Stock market rally predictions after Lok Sabha election results create frenzy but investors must remember this key point
True optimism should extend beyond immediate gains. A sustainable investment journey requires diligent planning, thoughtful strategy, portfolio diversification, and patience amidst market fluctuations. By embracing these principles, investors not only mitigate risks, but also position themselves for longterm growth through compounding returns.
Nazara promoter sells 6.38% stake to Plutus Wealth, stock up 4%
Today, Mitter Infotech, the promoter of gaming and esports company Nazara Technologies, completed an on-market block deal by selling 48.84 lakh shares, equivalent to 6.38% equity, to Plutus Wealth Management.
Gold records its worst weekly fall this year on hawkish Fed minutes
April's preliminary US economic data shows unexpected strength in durable goods orders, rising 0.70% against a predicted -0.80% decline. Even excluding transportation, the sector grew 0.4%, surpassing the 0.20% forecast. Consumer sentiment, measured by the University of Michigan, also improved to 69.10 from 67.70. However, inflation expectations for the next year and five to ten years fell slightly below predictions, at 3.30% and 3.00%, respectively.
With the inauguration of a state-of-the-art kitchen facility in Hyderabad, we aim to be one of the biggest pure food services players in the country, shares Rohit Sawhney, CEO, Elior India
Elior Group, led by CEO Daniel Derichebourg and Elior India CEO Rohit Sawhney, inaugurates a new kitchen facility in Hyderabad, focusing on growth and innovation in the Indian market.
LinkedIn India, Satya Nadella face MCA penalty: LinkedIn says reviewing fine for next step
LinkedIn is reviewing penalties imposed by the Ministry of Corporate Affairs for violating SBO norms. The Rs 27.1 lakh fines target LinkedIn India, Microsoft's CEO Satya Nadella, CEO Ryan Roslansky, and others. The order requires disclosure of significant beneficial owners, penalizing non-compliance. Appeal options are available within 60 days.
Wipro promotes veterans; Paytm & Nykaa Q4 financials
Happy Thursday! Wipro CEO Srinivas Pallia is betting on internal talent to propel growth. This and more in today’s ETtech Morning Dispatch.
MCA fines LinkedIn India, Satya Nadella and 8 others for violation of Companies Act, 2013
In its order, reviewed by ET, the Registrar of Companies for the national capital region of Delhi and Haryana under the MCA said the company and the officials are liable for penal action for "failure to take necessary steps as per section 90-4A (of the Companies Act) to identify the SBO in relation to the company".
Q4 results this week: ITC, ONGC, Sun Pharma, Nykaa, Ircon International and IRFC
ITC, ONGC, IRFC, Ircon International, BHEL, BEL, Sun Pharma, Nykaa, Tata Investment Corporation, Hindalco, Ashok Leyland, and Divi's lab will be releasing their March quarter report cards this week.
Will Nifty hit fresh record high before elections? That depends on these 5 factors
The week may remain lacklustre on the data front as no major economic data releases are scheduled in both the US as well as the Indian market. Indian investors are likely to focus more on the ongoing earnings season as well as stock specific developments. Nifty and Sensex have reached all-time highs driven by US Fed data and expert insights. Key factors that will shape market outlook.
Delhivery slides back to losses; Prosus names new CEO
Logistics startup Delhivery fell back into the red for the March quarter but managed to narrow its losses on a year-on-year basis. This and more in today’s ETtech Top 5.
OpenAI to announce ChatGPT product improvements Monday
OpenAI unveils GPT-4 updates for ChatGPT, delaying a search product announcement. Pressure mounts to grow user base amid fluctuating website traffic. Competition with Google and Perplexity for AI search capabilities intensifies.
Election, Q4 earnings, and FII flows among 10 factors that will steer D-Street this week
Over 530 BSE-listed companies will announce their March quarter earnings this week, including DLF, GIC Housing Finance, INOX India, Jindal Steel & Power, Varun Beverages, Zomato, Bharti Airtel, Bharti Hexacom and Colgate-Palmolive (India).
Sensex, Nifty rise for 4th day; focus on key earnings this week
The 30-share BSE benchmark Sensex closed 114 points or 0.16% higher at 73,852. The broader NSE Nifty closed 34 points or 0.15% higher at 22,402. Nifty Metal index appreciated 2.7% as global prices rebounded from a fall in the previous session. Heavyweight banking and financials rose 0.5%.
Tejas Networks gain nearly 40% in 2 days to record high after Q4 results
The consolidated net profit of the company for the March quarter stood at Rs 146.8 crore, against a loss of Rs 11.47 crore during the same quarter last year.
Stock Radar: Chambal Fertilisers takes support above 200-day EMA; likely to hit fresh 52-week high
The fertiliser stock hit a 52-week high of Rs 402 on January 4 but failed to maintain the momentum. In terms of price action, the stock is now trading above short- and long-term moving averages of 5,10,30,50,100 and 200-DMA on the daily charts, which is a positive sign for the bulls.
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