PremiumGlobal investors are worried about the Fed's interest-rate hiking path as they awaited minutes from its December meeting. Apart from global trends, Indian investors will also keep an eye on corporate earnings to get a better sense of the economy.
The monthly domestic air passenger traffic touched 1.29 crore to cross the pre-COVID level in December 2022, with Civil Aviation Minister Jyotiraditya Scindia terming it as a healthy trend and a good sign for the industry.
In December 2019, the domestic air passenger traffic stood at 1.26 crore.
"2022 sets new record in air passenger movement," according to a graphic shared by the minister on his Twitter handle on Tuesday.
The traffic reached 1.29 crore in December last year.
There is a healthy trend in domestic passenger movement of late - a good sign for the aviation sector, the minister said in a tweet.
"Monthly domestic passenger numbers in December 2022 crossed the pre-Covid-29 high!" Scindia said. (PTI)
The initial public offer (IPO) of polymer manufacturer Sah Polymers was subscribed 5.35 times on the third day of subscription on Tuesday, January 3, 2023. The initial share sale received bids for 2,99,95,450 shares against 56,10,000 shares on offer. The offer opened for public subscription on Friday, December 30, 2022, and will conclude on Wednesday, January 4, 2023.
According to market observers, Sah Polymers shares are commanding a premium of ₹5 in the grey market today. The company's shares are expected to list on leading stock exchanges BSE and NSE next week on Thursday, January 12, 2023. (Read More)
The National Company Law Appellate Tribunal (NCLAT) will on Wednesday hear an appeal filed by Google LLC. contesting Competition Commission of India’s (CCI) order imposing a fine of ₹1337 crore on the tech company for alleged violations in the android mobile ecosystem.
NCLAT’s principal bench in the national capital comprising Justice Rakesh Kumar and technical member Alok Srivastava will hear the appeal, NCLAT’s schedule for Wednesday showed. The company is represented by counsels Toshit Shandilya and Ravisekhar Nair. (Read More)
The rupee pared initial gains and settled 8 paise lower at 82.86 (provisional) against the US dollar on Tuesday, weighed by a strong greenback overseas and sustained foreign fund outflows.
At the interbank foreign exchange market, the rupee opened on a positive note at 82.69 against the greenback, but pared the gains and fell to an intra-day low of 82.92.
The domestic currency finally settled at 82.86, down 8 paise over its previous close of 82.78.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 1 per cent higher at 104.55.
Global oil benchmark Brent crude futures rose 0.02 per cent to USD 85.93 per barrel. (PTI)
Reliance Consumer Products Limited (RCPL), the FMCG arm and a wholly-owned subsidiary of Reliance Retail Ventures Limited. (RRVL), on Tuesday announced it will acquire a 50 per cent equity stake in Gujarat-headquartered Sosyo Hajoori Beverages Private Limited (SHBPL), which owns and operates a beverage business under the flagship brand 'Sosyo'.
The existing promoters, the Hajoori family, will continue to own the remaining stake in SHBPL.
Sosyo is a heritage Indian brand with around 100 years of legacy in carbonated soft drinks (CSD) and juices. Established in 1923 by Abbas Abdulrahim Hajoori, the company is one of the leading players in the domestic soft drinks market. (ANI)
RailTel on 3 January has announced that it has tied up with a technology firm in a bid to monetise its Wi-Fi project at more than 6,100 railway stations across India. RailTel which is a PSU under the Ministry of Railways, signed a five-year contract with a consortium led by 3i Infotech Ltd, a global information technology company based at Mumbai, a company statement said.
The other members of the consortium are Forensics Intelligence Surveillance and Security Technologies Private Limited (FISST) and Yellow Inc. (Read More)
Vaishali Parekh of Prabhudas Lilladher has recommended two day trading stocks to buy today, here we list out full details in regard to those two scrips:
1] Indian Hotels: Buy at ₹320, target ₹335, stop loss ₹315; and
2] Axis Bank: Buy at ₹962, target ₹980, stop loss ₹948. (Read More)
Spot gold prices in the domestic market have been trading at a steep discount to the metal’s bank rate for an extended period, a departure from the typical premium it trades at, especially during the wedding season.
Spot gold was trading at an $18-25/ounce (approximately 31g) discount, against a typical premium of $1, for a record 40 days now because of a supply-demand mismatch driven by a sharp jump in price, rise in circulation of recycled gold, a trade pact with the UAE that facilitates import of the metal at lower duty, and suspected leakages, traders said. (Read More)
Wall Street's main indexes closed lower on the first trading day of 2023 with big drags from Tesla and Apple, while investors worried about the Federal Reserve's interest-rate hiking path as they awaited minutes from its December meeting.
Shares in electric vehicle maker Tesla Inc hit their lowest level since August 2020 and put pressure on the consumer discretionary sector after missing Wall Street estimates for quarterly deliveries.
Apple Inc shares sank, with the iPhone maker hitting its lowest level since June 2021, after a report from Nikkei Asia pointed to weaker demand. In addition, an analyst downgraded their rating of the stock due to production cuts in COVID-19-hit China.
According to preliminary data, the S&P 500 lost 15.43 points, or 0.40%, to end at 3,824.07 points, while the Nasdaq Composite lost 78.21 points, or 0.75%, to 10,388.28. The Dow Jones Industrial Average fell 12.33 points, or 0.04%, to 33,134.92. (Reuters)
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