The NSE Nifty 50 closed 0.22% higher at 21,665.55, while the BSE Sensex closed 0.20% higher at 71,798.24.
Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed in the positive territory. The NSE Nifty 50 closed 28.50 points or 0.13% higher to settle at 21,647.20, while the BSE Sensex gained 63.47 points or 0.09% to 71,721.18. The broader indices closed in the green, with gains led by Nifty Next 50 and small cap stocks. Bank Nifty index closed higher by 77.50 points or 0.16% to settle at 47,438.35.
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Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Wednesday’s trading session in the negative territory. The NSE Nifty 50 tanked 159.60 points or 0.83% to settle at 19,122.15, while the BSE Sensex shed as much as 522.82 points or 0.81% to 64,049.06. The broader indices settled in the red. The Bank Nifty index tumbled 319.20 points or 0.74% to 42,382. Among the other sectoral indices, Media, Financial Services and IT led the losses while, PSU Bank and Metal stocks added gains. The volatility index (India Vix) ended up 3.73%.
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15:35 (IST) 25 Oct 2023
OLA Electric IPO is all set to kickstart on August 02. The company set the IPO price band at Rs 72-76 per share. However, investors should be aware of the risks involved in an IPO before applying for it. Here are key risks outlined by OLA Electric in the papers filed with SEBI:
1. Supply chain disruptions
According to the papers, the company can experience disruptions in the supply chain or face price increases in components and raw materials, which may further raise the prices of its EV products. This can also hamper the company’s manufacturing and delivery time.
“We could experience supply constraints, increased prices and quality issues in the supply of raw materials used in cell manufacturing, which could adversely affect cell manufacturing at our Ola Gigafactory and the quality of the cells produced therefrom,” said OLA Electric in its RHP. “We import cells from two foreign cell manufacturing companies, and plastic …
A favourable macro-environment, falling US yields and strong earnings should see the rally in Indian stocks extend to the first half of 2024. With the Sensex having crossed the 71,000 mark and the Nifty having hit 21,000, both gauges are at new highs.
As HSBC points out, India has been among Asia’s standout markets in recent years, with the FTSE India rising 15.2% in 2023 so far, in dollar terms, compared to the FTSE AxJ rising 0.4%.
Christopher Wood of Jefferies said last week he doesn’t favour a dramatic move by selling Indian equities and buying into China, as India remains the structurally favourite long-term growth story.
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The shares of Tata Motors gained over 3% to Rs 1044 on the NSE after Moody’s Investors Service affirmed Tata Motors’ corporate family rating at “Ba3” and maintained a “positive” outlook. This decision follows the automaker’s strategic move to demerge its commercial and passenger vehicle businesses, intending to list them separately on exchanges.
The demerger, subject to shareholders’ and regulatory approvals, is expected to be completed within the next 12-15 months. Moody’s acknowledges that while the demerger will result in Tata Motors’ remaining operations comprising only commercial vehicles (CVs), the company’s robust presence.
Holding about 40% share in India’s growing CV industry, and its demonstrated ability to generate significant free cash flow through industry cycles, will support its credit profile.
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GIFT Nifty traded up 48 points or 0.25% at 19,005.5, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously on Thursday, the NSE Nifty 50 tanked 264.90 points or 1.39% to settle at 18,857.25, while the BSE Sensex shed as much as 900.91 points or 1.41% to 63,148.15.
“In the backdrop of weak global cues, investors shunned local equities at will on the monthly F&O expiry day with benchmark Nifty closing below the crucial 19k mark amid sell-off in frontline banking, automobile and IT stocks. Investors are worried about the simmering West Asia conflict, economic uncertainty and rate hike woes, and hence maintained their bearish stance for the sixth straight session,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.
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With JPMorgan including India in its emerging market bond index from June 2024 without any tax policy change, the government has made it clear that it has no plans to offer any tax incentive for the bond inclusion in other index providers FTSE Russell and Bloomberg as well.
“The bond inclusion in the JP Morgan index is an interesting development and we will watch it,” a government source said, adding that the settlement of the Indian sovereign bonds would flow through the normal FPI route and would have to be settled onshore in rupee.
In fact, the JP Morgan bond inclusion announcement came years after delays as the government of India was opposed to providing any capital gains tax waivers to overseas debt investors and wanted global bond index operators to settle Indian government securities locally if they were included in their indexes.
Currently, appreciation in bond prices is considered capital gains and subject to tax. Short-term (less th…