UK Data Watch | August CPI inflation at 9.9 percent YoY versus estimate of 10 percent. Core CPI inflation at 6.3 percent YoY versus estimate of 6.2 percent
Airtel and IBM to work together to bring secured edge cloud services to Indian enterprises
IBM and Bharti Airtel will work together to deploy Airtel’s edge computing platform in India, which will include 120 network data centers across 20 cities. Once deployed, the platform is designed to enable large enterprises across multiple industries including manufacturing and automotive to accelerate innovative solutions, according to a press release.
Nifty Bank 0.33 percent higher, led by SBI
SBI joins Rs 5-trillion market cap club
Aegis Logistics gains 6 percent after second interim dividend announcementThe company said the board of directors has approved second interim dividend of Re 1 per share of face value Re 1 during the financial year 2022-23 and has fixed 23 September 2022 as the record date for the purpose of payment of interim dividend. The company will pay interim dividend on or before 11 October 2022.
Harsha Engineers IPO opens today. Should you subscribe?
Most analysts are positive about the issue thanks to the diverse product portfolio and strong expertise of Harsha Engineers. They advise investors to apply for the IPO.
Nifty, Sensex sharply off day’s lowBenchmark indices Nifty 50 and Sensex saw a sharp recovery from opening lows but still remained in the negative territory. The recovery from the lows of the day was in contrast to other Asian markets, which continued to weaken on fears of more aggressive interest rate hikes by the US Federal Reserve.Indian stocks opened sharply lower at opening bell after August inflation data in the US came in higher than Wall Street’s expectations stoking concerns of tighter monetary policy. At 10:22 am, the Nifty 50 and Sensex were down 0.9 percent each after falling nearly 2 percent earlier in the session. Nifty is above the 17,900 mark.
Fertiliser stocks drop 2-3 percent
Union Minister of Chemicals and Fertilizers Mansukh Mandaviya said the government will not allow companies to raise prices of crop nutrients during the winter season. The Minister was speaking on the sidelines of an international dairy summit and added that there is no shortage of fertilisers in the country. Rashtriya Chemicals and Fertilisers fell 2.5 percent, National Fertilisers lost 2.2 percent, Chambal Fertilisers dropped 2.1 percent and Coromandel International shed 3.2 percent.
Bank of Japan conducts rate check in apparent preparation for currency intervention: Nikkei
Ambuja Cements up 3 percentThe company will consider a proposal for raising of funds by way of issue of equity shares or any other means on Sept 16
Gold Prices Today: Yellow metal to lose shine on Fed rate hike fears after soaring US inflation
Tapan Patel, Senior Analyst (Commodities), HDFC Securities expects gold prices to trade sideways to down for the day with COMEX Spot gold support at $1680 and resistance at $1720 per ounce. MCX Gold…