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Buzzing Stocks: RIL, Shilpa Medicare, LIC Housing And Other Stocks In News Today
Buzzing Stocks: RIL, Shilpa Medicare, LIC Housing And Other Stocks In News Today
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Stocks in news: Check out the companies making the biggest headlines before the opening bell. (Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their…
Way2Wealth Research on market: Tracking the strong Asian peers and SGX Nifty, benchmark index Nifty also started yestraday’s session on firm note at 15766 levels, but index failed to hold the gains for longer period and thus gradually erased the entire gains and finally ended the day on a flat note at 15692. Nifty Index once again retested the lower band supports of 15644 and managed to end just above it.
Despite strong opening, Nifty failed to hold the gains, which indicate lack of strong buying interest and traders looking for profit booking on every bounce. Hence, break below 15630 would drift the index lower till 15500 and 15430 levels. SGX Nifty is indicating a strong opening of markets which is up around 140 points. But as long as the index holds above 15630 the optimism remain intact.
Unicorn Story! Investors Can Subscribe To Zomato For Listing Gains: Hemang Jani Of Motilal Oswal Financial Services
At the higher end of the price band, Zomato is valued at 25x FY21 EV/Sales, which is expensive when compared to an average of 9.5x for global peers and 11.6x for Indian peers, says Jani.
Sources on Zomato to CNBC-TV18: The company has garnered $560 million from institutional anchor investors. Over 100 anchor investors to be allotted shares at Rs 76 each.
Top FIIs include Baillie Gifford, BlackRock, Capital Research, CPPIB, GIC, T Rowe Price while top DIIs include Axis MF, HDFC MF, Birla MF, Nippon, HDFC Life, ICICI Prudential Life.
RBI issues scheme for retailers to invest in Government securities
The Reserve Bank of India (RBI) on July 12 issued the ‘RBI Retail Direct’ scheme, which is a one-stop solution to facilitate investment in Government Securities by individual investors. Under this, retail investors (individuals) will have the facility to open and maintain the ‘Retail Direct Gilt Account’ (RDG Account) with RBI, the central bank said.
Also, the RDG Account can be opened through an ‘Online portal’ provided for the purpose of the scheme, it said. The ‘Online portal’ will also give the registered users facilities like access to primary issuance of Government securities, access to NDS-OM, the RBI said, adding, the date of commencement of the scheme will be announced at a later date.
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Oil prices: Oil rose on Tuesday, recovering from the previous day’s drop, as expectations of further declines in U.S. crude inventories outweighed fears that spreading COVID-19 variants could derail a global economic recovery.
Brent crude for September climbed 25 cents, or 0.3per cent, to US$75.41 a barrel by 0036 GMT, after losing 0.5per cent on Monday. U.S. West Texas Intermediate crude for August was at US$74.33 a barrel, up 23 cents, or 0.3per cent, having fallen 0.6per cent the previous day.
Asian Markets: Shares in Asia-Pacific were higher in Tuesday morning trade as investors awaited the release of China’s trade data for June. The Nikkei 225 in Japan gained 0.75% in morning trade while the Topix index advanced 0.72%. South Korea’s Kospi climbed 0.6%.
Top 10 Things To Know Before The Market Opens
Trends on SGX Nifty indicate a gap-up opening for the index in India with a 118 points gain.
US Markets: Wall Street’s main indexes rose on Monday, with the Nasdaq and the S&P 500 hitting record highs, as investors awaited the start of the second-quarter earnings season and a batch of economic data to gauge the next leg of the equity market.
Dow Jones Industrial Average was up 67.40 points, or 0.19%, at 34,937.56, the S&P 500 was up 8.20 points, or 0.19%, at 4,377.75 and the Nasdaq Composite was up 10.22 points, or 0.07%, at 14,712.14.
