SCIENCE BASED TARGETS INITIATIVE
Nifty Bank hits fresh record high, climbs above Mt 53K; use dips to buy: Experts
HDFC Bank, Kotak Bank, Federal Bank and Bandhan Bank saw heavy buying while AU Small Finance Bank saw selling pressure. The bank index breached its crucial resistance level of 53,000, triggering a short covering move in the index. Traders are advised to use dip to go long in the index.
Diversity initiatives are bringing more women to certain roles: Survey
Indian companies are prioritizing diversity, equity, inclusion, and belonging (DEIB) initiatives, with varying levels of women's representation across roles highlighted in a Manpower Group survey. Administrative and operational roles show higher female presence, while top-level management and STEM roles exhibit lower representation. Key findings emphasize the importance of trust, relationship building, and technology-driven solutions like AI for unbiased recruitment.
Holding company stocks rally up to 20%. Here’s why
Shares of holding companies like Bombay Burmah, Tata Investments, JSW Holdings and TVS Holdings rallied up to 20% on BSE on Monday as the Securities and Exchange Board of India (Sebi) introduced special call auctions with no price bands for price discovery of investment holding companies.
Cybersecurity firm Kaspersky denies it's a hazard after the US Commerce Dept bans its software
The Moscow-based company - whose CEO Eugene Kaspersky is Russian - said in a statement that the Commerce Department's decision would not affect its ability to sell and promote its cyber security products and training in the U.S. Kaspersky said the government had based its decision on the "geopolitical climate and theoretical concerns" rather than independently verifying if there was a risk.
Uber's electric vehicle service, Uber Green arrives in Kolkata
Uber launched its electric vehicle service, Uber Green, in Kolkata, offering users on-demand EV rides across the city, including to and from the Kolkata International Airport. The initiative aims to improve air quality in the city and reduce carbon emissions. Uber plans to provide zero-emission services globally by 2040, with approval from the Science Based Targets Initiative. Uber India and South Asia President, Prabhjeet Singh, highlighted the company's commitment to expanding green transportation options in India.
Motilal Oswal initiates coverage in jewellery stocks; sees up to 24-26% upside in Senco Gold & Kalyan Jewellers
Following recent coverage, Kalyan Jewellers saw a 5.3% rise in its shares, reaching a high of Rs 446.65. Similarly, Senco Gold experienced a 3% increase, with shares climbing to a day's high of Rs 1,061.90 on the BSE.
Stock Radar: This pharma stock sees mild consolidation after 130% rally in 1 year; time to buy the dip?
The pharma stock is a part of the S&P BSE Smallcap index. It saw an uptrend, rising from Rs 393 as of June 9, 2023, to Rs 901 recorded on June 10, 2024. It has, however, undergone mild consolidation of approximately 100 points since April on the daily chart. The stock is in recovery mode with chances of momentum to continue are moderate. Short-term traders can look to accumulate the stock on dips.
Gopalan Enterprises targets Rs 500 crore rental income over 4-5 years
Real estate developer, Gopalan Enterprises, part of Gopalan Group, aims to increase its office rental income to Rs 500 crore annually and could list its assets as a real estate investment trust (REIT) in the next four-five years, a senior company executive said.
Cairn Oil & Gas targets net zero by 2030
Cairn Oil & Gas, part of Vedanta Group, aims to achieve net zero by 2030 through renewable energy initiatives like sourcing 70 MW of renewable energy and installing solar rooftops in Rajasthan and Gujarat. Moreover, the group also aims to achieve net zero by tree planting.
Leasing takes off as Make in India settles
The government's focus on Make in India and production linked incentive (PLI) schemes to promote local manufacturing has started to yield results as seen in rising leasing demand for light manufacturing and warehousing. The growth is further evidenced by a 4.5 times surge in leasing activity for light manufacturing spaces in 2023, compared to 2020.
How Unacademy board tweaked targets for founders’ voting rights
Edtech unicorn Unacademy has changed the target for its cofounders Gaurav Munjal and Hemesh Singh to access additional voting rights through bonus shares issued to them in 2022. Industry sources said this move throws light on Unacademy’s changing ambitions as well as the broader sluggishness in the startup funding ecosystem.
Supply chain realignments position India, SE Asia as manufacturing hubs, beyond China
The government’s focus on Make in India programme and the production linked incentive (PLI) schemes to promote manufacturing has started to yield results as indicated by leasing demand for light manufacturing and warehousing. This robust growth is further evidenced by a notable 4.5 times increase in leasing activity for light manufacturing spaces in 2023, as compared to 2020, with projected year -on year growth of over 25% in 2024, shows a JLL study.
France's Macron urges a green light for Ukraine to strike targets inside Russia with Western weapons
French President Emmanuel Macron urged Western allies to allow Ukraine to strike Russian military bases using long-range weapons provided by the West. Macron's call, echoed by NATO Secretary-General Jens Stoltenberg, comes amid Ukraine's struggles due to delayed military aid and shortages. While Western leaders have been cautious, fearing escalation, Macron emphasized targeting only Russian bases launching attacks on Ukraine. The U.S. remains hesitant, maintaining restrictions on using its weapons to strike inside Russia. Recent European pledges include significant military support from Belgium, Spain, and Sweden.
Post-COVID, China is back in Africa and doubling down on minerals
Chinese overseas investment, with a focus on minerals extraction in Africa, is rebounding post-pandemic. However, the relationship remains extractive, not fully aligned with the Belt and Road Initiative's goals outlined by President Xi Jinping.
Initiatives on track to increase women’s participation across levels, say 54% Indian employers – much above global average of 46%
Internal leadership development programmes, followed by flexible working policies, most effective in helping retain and secure diverse talent, finds ManpowerGroup Diversity Outlook Survey
IIT-Madras to provide funds to incubate sports-tech startups
IIT-Madras to fund sports-tech start-ups with AI and IoT products. Funds from IIT-Madras Pravartak Technologies Foundation and CESSA. Focus on sports tech incubator fund.
KIMS: Healthy prospects ahead; why analysts are bullish on this stock
KIMS operates a network of 12 hospitals across Telangana, Andhra Pradesh and Maharashtra with a total bed capacity of 3,975 beds. A JM Financial report is bullish on the stock due to expansion-led growth, stable margins, and valuation comfort. It trades at a 12-month forward EV/EBITDA of 21.4 times, a 12.4% discount to the industry median, according to Reuters-Refinitiv data.
Nomura initiates coverage on 2 PSU defence stocks with upside potential of up to 30%
Nomura initiates coverage on HAL and BEL with 'buy' ratings, setting target prices at Rs 4,750 and Rs 300 respectively. HAL favored for aircraft expertise, while BEL for order visibility and margin potential.
IISc launches ‘Longevity India Initiative’ to pioneer ageing research in India
The initiative has also started a large-scale clinical study that will involve researchers from multiple IISc departments, clinicians, industry, philanthropists and civil society, according to a statement from IISc.
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