Jerome Powell’s FOMC takes action as US economy shows resilience The US Federal Reserve has reduced interest rates by 50 basis points, marking its first cut since 2020. Fed Chair Jerome Powell highlighted the robust state of the economy, noting solid growth and improved inflation. This move aims to make borrowing cheaper, potentially boosting economic…
Sensex and Nifty 50 Expected to Open Higher on September 19 The Indian stock market is poised for a positive opening on September 19, following the US Federal Reserve’s significant interest rate cut of 50 basis points. This move has boosted investor sentiment globally. The Gift Nifty indicates a promising start, trading around 25,400, a…
Airline Struggles with Unpaid Dues Amid Financial Crunch SpiceJet is facing significant financial challenges, revealing unpaid dues of ₹135.3 crore in Provident Fund and ₹220 crore in Tax Deducted at Source (TDS) from April 2020 to August 2023. The airline’s constrained financial position has led to delays in payments, but it remains committed to clearing…
Strengths, Risks, and Financials to Consider Northern Arc Capital’s IPO, open from September 16 to 19, has garnered significant interest, with a subscription rate of 17.27 times by the third day. The company, a non-deposit-taking NBFC, boasts strong sectoral expertise and a large rural market presence. However, it faces risks such as high competition and…
Economic Shifts: Southern States Thrive, West Bengal Faces Persistent Decline A recent report by the Economic Advisory Council to the Prime Minister highlights a significant economic shift in India. Southern states—Karnataka, Andhra Pradesh, Telangana, Kerala, and Tamil Nadu—now account for 30% of India’s GDP, showcasing remarkable growth. In contrast, West Bengal has faced a steady…
Reliance Power has fully settled its obligations worth Rs 3,872 crore as a guarantor on behalf of Vidarbha Industries Power, leading to the release of all related corporate guarantees. This development was followed by a 5% surge in Reliance Power’s stock, reaching Rs 32.97 on the NSE on September 18, 2024. The company also resolved…
Bajaj Housing Finance shares have surged 159% from their IPO price of ₹70, hitting ₹181.48 on Tuesday. Phillip Capital has given a ‘Buy’ rating, with a target price of ₹210. Analysts suggest holding the stock for the long term but also recommend booking some profits at current levels. This IPO is considered one of the…
Radhika Gupta, CEO of Edelweiss Mutual Fund, shared her thoughts on luxury cars, explaining that while she can afford them, she chooses not to buy. Gupta believes that true success is not defined by owning luxury items but by making meaningful financial choices. She emphasizes the importance of focusing on investments and long-term goals rather…
WHSmith, a longstanding high street fixture in Broad Street, March, is set to close its doors on January 25, 2025. This marks the end of an era for the store, which has been a part of the town for decades. A spokesperson for WHSmith expressed disappointment over the closure, thanking customers for their loyalty and…
A Ray of Hope for Homebuyers Amidst a Tough Housing Market Mortgage rates have fallen to their lowest level since February 2023, providing some relief to those navigating the challenging housing market. The average 30-year fixed-rate mortgage rate is now at 6.20%, down from last week’s 6.35% and significantly below last October’s 7.79% peak. This…
