Bank Nifty rangebound, directionless: Here’s what will help banking index breakout; US debt, RBI key to watch
Bank Nifty, despite multiple attempts in the last one month, has failed to cross its all-time high of 44,151.80 so far. Since the last few sessions, it has remained range-bound and directionless, making investors anxious as the monthly derivatives expiry comes closer. While the fall of major banks in the US and Europe has capped the Bank Nifty’s growth, analysts believe that the US debt ceiling talks will further affect the global markets and a failure to reach a resolution will have catastrophic consequences on the global economy. Meanwhile, if Bank Nifty manages to surpass 44152-44200 levels then it may rally towards 44500, analysts said.
Nykaa Q4FY23 Results: Profit tumbles 71.8% at Rs 2.41 crore
FSN E-Commerce Ventures, the parent company of Nykaa, on Wednesday posted fiscal fourth quarter profit at Rs 2.41 crore, down 71.8 per cent in comparison to Rs 8.56 crore in the same quarter last year. It posted revenue from operations at Rs 1301.72 crore, up 33.7 per cent as against Rs 973.32 crore in the corresponding quarter of previous year. While Nykaa’s total income for the quarter was at Rs 1311.46 crore, its total expenses for the period was at Rs 1302.83 crore. The company’s EBITDA stood at Rs 70.6 crore, up 84 per cent on-year.?
How to review your mutual fund SIP portfolio: Quick guide
A periodic review of the mutual fund investment portfolio can help you understand whether you are on the right track to meet your financial goals or not. Ideally, this review should be done on a half-yearly basis or at least on a yearly basis. In an e-mail interaction with FE PF Desk, Shrinath ML, Senior Research Analyst at FundsIndia shares a quick guide on how to review your mutual fund portfolio.?
Gautam Adani jumps back into top 20 on billionaire list; adds $4.38 bn to personal wealth in one day
The embattled Adani group Founder and Chairman Gautam Adani reclaimed his position in the top 20 on the Bloomberg Billionaires list. On Tuesday, as Adani group companies’ share prices jumped in trade, the billionaire’s net worth surged by an $4.38 billion to $64.2 billion, propelling Gautam Adani to the 18th spot among the world’s wealthiest individuals, surpassing figures such as Zhong Shanshan and Jacqueline Badger Mars.
Pausing interest rate hike not in my hands; plan to let impact of rate hikes play out, says RBI Guv Das
After the Reserve Bank of India (RBI) decided to keep the repo rate unchanged in April at 6.5 per cent, the central bank governor?Shaktikanta Das?on Wednesday said that pausing the interest rate hike is not in his hands and it depends on on-ground situation. “Pausing rate hikes is not a decision which is entirely in my hands because I am driven by what is happening at the ground level,” he said at the Confederation of Indian Industry Annual Session (2023). He also noted that it was heartening to see that Indian industries used the current situation to strengthen its resilience.
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Is Liquid Fund better than a Savings Account? Here’s what you must know
Savings accounts have long been a popular choice for individuals to park their surplus funds, offering easy access and minimal risk. However, in recent years, liquid funds have emerged as a viable alternative to savings accounts, raising the question: Is a liquid fund better than a savings account? Let’s delve into the details:
Biocon Q4FY23 profit up 31.3% at Rs 313.20 crore on robust sales, beats estimates
Biotechnology company Biocon beats estimates as it posted its fiscal fourth quarter profit at Rs 313.20 crore, up 31.3 per cent as against Rs 238.60 crore in the same quarter last year, on the back of robust sales. It posted revenue from operations at Rs 3773.90 crore, up 56.7 per cent in comparison to Rs 2408.80 crore in the fourth quarter of FY22. Biocon was expected to clock a profit of Rs 234 crore and revenue of Rs 3611.7 crore during the fourth quarter of the financial year ended March 2023. The Board also recommended a final dividend at the rate of 30 per cent, that is, Rs 1.50 per equity share of face value of Rs 5 each for the financial year. “The dividend will be paid on or before September 8, 2023,” it said in a regulatory filing.?
Indian Railways gears up for monsoon season! Aims for smooth train operations – Know all details here
Indian Railways?has started the preparatory works for the upcoming monsoon season. The move aims to avoid the water-logging on railway tracks due to heavy rains and to ensure the smooth operation of trains.
In this context, the Central Railway (CR) zone has taken several measures to cope up with the situation. The zonal railways is divided into five divisions –?Mumbai Division, Bhusawal Division, Nagpur Division, Solapur Division, and Pune Division.
Tata Altroz CNG: Five things to know
Tata Motors is aiming to disrupt the premium hatchback CNG segment with the launch of the Altroz iCNG. Tata has packed the hatchback with plenty of segment-first features, offering a wide range of the variants like no other manufacturer and has priced it aggressively to become the leader in this CNG class. Here are five things you need to know about the Altroz CNG.