The Bain and Temasek combination submitted a non-binding offer late last week valuing India’s largest snack and convenience foods company at $8-8.5 billion (Rs 66,400-70,500 crore), after initially engaging with the founding family of the 87-yearold brand separately, said people aware of the matter.

“Piramal Enterprises stock has exhibited a Bullish Harami Candlestick formation, signaling a potential reversal in trend and suggesting an upward movement in the stock price. Traders can buy for a target of Rs 875,” Kkunal V. Parar, Vice-President of Technical Research and Algo, Choice Broking, said.

Petrobras opted not to pay extraordinary dividends to its shareholders earlier this year, souring relations between Petrobras CEO Jean Paul Prates and Brazil's President Luiz Inacio Lula da Silva.

HDFC Life announced its highest-ever bonus of Rs 3,722 crore on participating plans. This bonus will benefit over 22.23 lakh policyholders.

Global passive funds, such as exchange-traded funds, structure their portfolios based on these indices. Any change in composition prompts these funds to adjust their allocations. The newly included stocks are JSW Energy, Canara Bank, Indus Towers, PB Fintech, Sundaram Finance, and NHPC. Berger Paints has been dropped, while Indraprastha Gas and Paytm's parent, One 97 Communications, have been downgraded to the small-cap index.

The Reserve Bank of India may postpone anticipated policy interest rate cuts, but strong demand for bonds from long-term investors like retirement funds and insurers will keep market interest rates low, particularly for top-rated borrowers. Soumyajit Niyogi, Director at India Ratings, noted that while hopes for significant rate cuts may be diminishing, elevated rates in the banking system will be favored. However, institutional investors' robust demand will keep bond yields low, especially for high-rated issuances.

Two Nepalese citizens have challenged the Indian Income Tax Department's invocation of the Black Money Act against them, arguing that they are tax residents of Nepal, not India. The case raises questions about how the law applies to foreigners from countries with double tax avoidance treaties with India. Specifically, the case highlights issues concerning Nepal, where citizens can move freely in and out of India without passports due to a "Treaty of Friendship" between the two countries.

Avendus Wealth Management has named Apurva Sahijwani as its new managing director and CEO. Sahijwani, with extensive experience in the financial sector, will oversee the wealth team and utilize Avendus's platform to offer comprehensive advice to clients. Previously, he led Burgundy Private at Axis Bank and held various managerial roles at Kotak Wealth, ICICI Bank, HSBC, and Citibank.

Banks adjust deposit rates according to their asset and liability positions and demands for funds in specific tenures. This is the first increase by SBI in deposit rates since December 2023. - Our Bureau

​​“We think investors may be ignoring Indian chemicals companies’ strong niche positions and growth opportunities within the context of the worst global destocking cycle in chemicals over the past 30 years, but we see signs of modest volume recovery,” said the brokerage’s analysts in a note to clients.

Earlier, LIC had got a one-time exemption to meet a 25% minimum public shareholding within 10 years by May 2032 of its listing in May 2022. The government divested the stake through an offer for sale (OFS) and raised ₹21,000 crore by selling a 3.5% stake then.

"Post transaction, the entire promoter group, including persons acting in concert, continues to hold 31.67% in the company and remains committed to the future of Cipla," the company said in a statement.

After falling over 27% from its September 2023 highs, the stock price shows signs of bottoming out. It hit a 52-week high of Rs 1,140 in September. It found some support above 800 levels in March 2024 and bounced back.

The blue-chip Dow was set to breach the 40,000 mark for the first time, while the two other major indexes surpassed all-time peaks hit in March. Tepid U.S. consumer prices data for April led traders to raise bets that the Fed will cut its policy rate in September and again in December.

Snapping its three-day winning run, benchmark Sensex declined 118 points in a volatile trade on Wednesday due to selling in index heavyweight shares like HDFC Bank, Reliance Industries and TCS. The 30-share BSE Sensex settled at 72,987. The broader Nifty dipped 17.30 points or 0.08% to close at 22,200. "The short-term trend of Nifty continues to be up. Further consolidation or minor dip in the market is expected before showing further up move. A sustainable move above the immediate resistance of 22,300 levels is likely to open the doors for the higher target of 22,600 levels in the near term. Immediate support is 22,070 levels," said Nagaraj Shetti, senior technical research analyst at HDFC Securities.

Sensex fell over 100 points while the Nifty50 managed to hold on to 22,200 levels. Sectorally, buying was seen in the public sector, power, and capital goods stocks while banks, auto and FMCG stocks faced selling pressure.

Snapping its three-day winning run, benchmark Sensex declined 118 points in a volatile trade on Wednesday due to selling in index heavyweight shares like HDFC Bank, Reliance Industries and TCS. The 30-share BSE Sensex settled at 72,987. The broader Nifty dipped 17.30 points or 0.08% to close at 22,200. "The short-term trend of Nifty continues to be up. Further consolidation or minor dip in the market is expected before showing further up move. A sustainable move above the immediate resistance of 22,300 levels is likely to open the doors for the higher target of 22,600 levels in the near term. Immediate support is 22,070 levels," said Nagaraj Shetti, senior technical research analyst at HDFC Securities.

The net profit in the year-ago period was Rs 1,180 crore. The company's board recommended a 450% dividend for FY24. In other words, shareholders would get Rs 9 per equity share of Rs 2 each, subject to their approval.

MakeMyTrip reported a revenue of $ 782.5 million for financial 2024, up from $ 593 million in fiscal year 2023. The company posted a revenue of $ 202.9 million in the fourth quarter of financial year 2024, up from $ 148.5 million in quarter four of financial year 2023.

Right from power, railways, PSU banks, sectoral lenders to oil and gas there are many sectors which have made a comeback in the last 10 years. Comeback both in the real business sense, where the operating matrix and fundamentals of the sector have improved which has led to better performance. Also a comeback on valuation front, where the stocks which were quoting at a price earning multiple of single have been now consistently quoting in high double multiples. A number of them have seen this transformation due to a stable policy environment, policy push and policy cleanup which the government has undertaken in the last ten years. The consensus estimate of the street is that policy continuity is the most critical thing for the re-rating to continue. In this new series, we take a different sector and how much they are dependent on government policy and how investors can protect their portfolio from any sudden decline.

The Dow Jones Industrial Average rose 56.99 points, or 0.14%, at the open to 39,615.10.

Cinema chain AMC dropped 14.3%, after surging 135% in the past two sessions, while video game retailer GameStop fell 9.8% after hitting its highest level since June 2021 on Tuesday. Trading in the retail investor darlings, the most actively traded NYSE stocks, were halted minutes after the market opened.

Shares of Life Insurance Corporation (LIC) on Wednesday jumped more than 6 per cent after the firm said Sebi has granted an additional 3-year time till May 16, 2027, to comply with the 10 per cent public shareholding norm.

Nifty ended 17 points lower on Wednesday and traded sideways. Thereby, it failed to show any significant directional breakout. Move above the immediate resistance of 22,300 level may make room for higher target of 22,600 level.

Electronic manufacturing service provider, Dixon Technologies on Wednesday announced a 20% year-on-year (YoY) rise in PAT at Rs 97 crore for the fourth quarter of FY24 while the revenues stood at Rs 4,675 crore, surging 52% YoY.

The Nifty Bank fell 172 points on Tuesday and formed a bearish engulfing pattern on the daily chart. Top gainers included ICICI Bank, Axis Bank, Bandhan Bank, and Bank of Baroda. HDFC Bank saw strong selling pressure

Long unwinding refers to the selling of positions or stocks owned for a longer period either to book profit or to exit it in anticipation of impending bearishness. In Wednesday's trading session, five stocks witnessed a top long unwinding. Here's the list:

Short covering refers to the buying of shares in order to close an existing short position or a position that has been sold. Short covering signals a shift in view on security from extreme bearishness to bullishness. In Wednesday's trading session, five stocks saw top short covering. Here's the list:

TBO Tek strong listing can be attributed to the unwavering investor confidence in the company’s solid technological foundation and its potential for continued growth in the online travel sector.

Right from power, railways, PSU banks, sectoral lenders to oil and gas there are many sectors which have made a comeback in the last 10 years. Comeback both in the real business sense, where the operating matrix and fundamentals of the sector have improved which has led to better performance. Also a comeback on valuation front, where the stocks which were quoting at a price earning multiple of single have been now consistently quoting in high double multiples. A number of them have seen this transformation due to a stable policy environment, policy push and policy cleanup which the government has undertaken in the last ten years. The consensus estimate of the street is that policy continuity is the most critical thing for the re-rating to continue. In this new series, we take a different sector and how much they are dependent on government policy and how investors can protect their portfolio from any sudden decline.

IT stocks presented a muted show as investors turn cautious ahead of key US data that will determine future interest rate trends. Sensex dipped 118 points to settle at 72,987. Nifty shed 17 points to end at 22,200.

​Contrary to the debut of TBO Tek, the listing of Aadhar Housing Finance was flat, falling short of expectations. The grey market trends signalled a gain of around 15-20% for investors.

Siemens shares soared 8.9% to a new 52-week high of Rs 7,243.60 on BSE following increased target prices by brokerages. The company also approved a scheme to demerge its energy business into a separate listed entity.

ETMarkets mutual fund (MF) analysis identified that more than 15 MF schemes have decreased their investments in five stocks in April. Notably, all these stocks have experienced a share price decline of 8-26% in the year 2024 so far. Check the list to see if you hold any of these stocks: (Data Source: ACE MF)

Indian shares dropped on Wednesday, dragged by a pullback in auto stocks and a drop in top private lender HDFC Bank, while IT stocks were subdued ahead of key US inflation readings that could influence the future rate trajectory. Meanwhile, in today's trading session, 5 midcap stocks from the Nifty200 index hit new 52-week highs. Here's the list:

Suzlon Energy's shares are poised to receive a $14 million boost from passive inflows due to increased weightage in the MSCI global standard index, as per Nuvama report.

The bearish positions in the derivatives market have come at a time when overseas investors have pulled out about $4 billion from local stocks since early April, reflecting a cautious outlook about the outcome of the elections.

Europe's benchmark index climbed to a record high on Wednesday, as upbeat earnings boosted industrials and healthcare stocks, while investors buckled up for a highly anticipated U.S. inflation print.

Nifty traded in the red on Wednesday breaking its two-session winning momentum in the morning trade led by selling pressure in bank and auto stocks. Around 12 pm today, the 50-stock index was trading at 22,186.25, down by 31.60 points or 0.14%.

A circular issued by NSE stated that trading in securities of Brightcom Group will remain suspended until the company complies with the above regulation. After 15 days of suspension, trading in the securities of non-compliant companies would be allowed on a trade-for-trade basis in the Z category on the first trading day of every week for six months.

Despite Colgate-Palmolive reporting a 20% increase in net profit to Rs 379.8 crore for the March quarter and a rise in net sales, its shares dropped 4% on BSE.

Oberoi Realty shares soared 7% to a 52-week high of Rs 1,629 on BSE after reporting a remarkable 64% YoY surge in net profit to Rs 788 crore for the March quarter. Revenue rose by 36.8% to Rs 1,314.8 crore, with a significant improvement in EBITDA and margin.

Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.

Pakistan's benchmark share index touched a lifetime high on Wednesday, breaching the key level of 75,000, on hopes that easing inflation could pave the way for interest rate cuts as early as June.

In the March quarter, the highest increase was witnessed in Union Bank of India, wherein an increase of 278 bps was witnessed on a quarter on quarter basis. Presently, 6.75% shares of Union Bank of India are held by the FIIs.

A long buildup occurs when there is an increase in open interest and trading volumes alongside a rise in the price of the underlying stock in the Futures and Options segment, indicating a bullish trend in the market. In Wednesday's trading session, five stocks experienced a buildup of fresh long positions. Here's the list:

A short buildup is when there is a rise in open interest and volumes along with a decrease in the price of the underlying stock in the Futures and Options segment. Short buildup means more people are expecting the prices to go down and creating short positions. In Wednesday's trading session, five stocks witnessed a build of fresh short positions. Here's the list:

Canara Bank's shares surged 4.6% to Rs 118.40 as the 1:5 stock split took effect, converting each Rs 10 face value share into 5 shares valued at Rs 2 each. The move aims to enhance liquidity, affordability, and broaden retail investor participation.

Vedanta's Q4 net profit down by over 27% YoY in March quarter. Investor sentiment remains positive with target prices raised. Chairman Anil Agarwal plans $20 billion investments in technology, electronics, and glass sectors in four years to diversify business activities.

SBI PSU Fund Reg(G), a top performer in equity mutual funds, bolstered its portfolio by adding Indian Energy Exchange (IEX) shares and increasing stakes in Bank of India, LIC, NALCO, and SAIL.