Molecular diagnostics company Mylab Discovery Solutions, which launched India's first indigenously-developed RT-PCR test kit for Covid-19, is ready to join hands with the Indian Council of Medical Research (ICMR) to make diagnostic kits for the monkeypox virus, people in the know said.ICMR--India's top health research centre--had last week invited expression of interest (EoI) from vaccine manufacturers to develop a vaccine against monkeypox. Manufacturers of diagnostic kits were also asked to respond to the EoI by August 10.Till Tuesday, four companies had come forward to produce the vaccine, and four companies, including Mylab, had approached the ICMR to make the detection kits.Hasmukh Rawal, promoter and managing director of Mylab, confirmed that the company has approached ICMR for developing the diagnostic kit.Though we think it will not affect a larger segment of the population like Covid, but we would like to be prepared and ready if people in the country need quality solutions for detection and treatment, Rawal told ET.The ICMR had earlier said it was in possession of characterised monkeypox virus isolates/strain and was willing to collaborate with experienced vaccine manufacturers, as well as in-vitro diagnostics (IVD) manufacturers on oyalty basis on fixed term contract condition for undertaking R&D and manufacturing activities for joint development and validation of five potential vaccine candidates against monkeypox disease, and development of diagnostic kit (IVD) for detection of the monkeypox virus, leading to product development.
Tata Group-backed Indian Hotels Company (IHCL) posted revenue from operations of 1,266 crore, an over three-and-a-half-fold increase from a year earlier when the hospitality industry was beset by the second wave of Covid-19. It also posted a profit of 181 crore, compared with a 302 crore loss during April-June 2021. Chief executive Puneet Chhatwal called it the best fiscal first quarter in the company's history.
According to officials, there is a tendency among zonal railways to entrust non-mandated duties like conducting fact-finding enquires in public complaints not related to crime against passenger or railway property. The directive aims to correct this.
Praful Nanji Satra, promoter of the listed company, had challenged a plea filed by VISTRA ITCL India with regards to the company's default on secured redeemable non-convertible debentures (NCDs) worth 56 crore.
Indian silver prices are sharply bullish today, as the metal gained by around 4% in global futures markets. The US Dollar index is also a bit weak now, which is pushing the metal prices up. Silver rate, on August 9, in
Having observed variations in capital gains tax computation, the revenue department is working on a mechanism to analyse futures and options (F and O) trade data and pre-initial public offering (IPO) transactions. The directorate of I-T systems is working on certain risk-assessment parameters to access the data, which could be on the basis of buying and selling prices of shares in F and Os, variations in margins, fair market value versus IPO prices, etc. The idea is to segregate and process the voluminous data on equity derivatives for effective use, said a senior government official privy to the plan.
Besides senior government officials, private sector employees who have worked at the level of CEO, CFO, COO or equivalent are also eligible to apply for post.
Dividend, bonus issue, stock split, right issue and share buyback are the key corporate actions. Corporate actions are the initiatives which the corporate takes and as a result there is brought about a change in its stock. Typically, such a corporate
Elaborating on the country's foreign policy, Jaishankar said that a large element of this is also the manner in which the Prime Minister carries himself.
Compartmentalising and assigning existing savings to different goals helped Rao make most of his investments.
Real estate and gold have traditionally formed a large chunk of Indian investors' portfolios
In the absence of any document like a memorandum of family settlement / arrangement, an oral family settlement/ understanding will have to be established before a court
Investors should look at a horizon of 6-7 years while investing in the funds focused on the Greater China region
MF exposure to the companys debt instruments amounts to 482 crore (as of July 2022), as per data from Ace MF
Textile major Trident on Tuesday said its founder and chairman Rajinder Gupta has expressed his intention to step down as director and non-executive chairman of the company due to health issues and family commitments. Respecting the request received from Gupta to relieve him from his duties, the company's board commended the unparalleled contribution of the founder in building the company and graced the decision of prioritising healthcare and family commitments, Trident Limited said in a statement. Gupta, while expressing his desire to step down from the position, said, After devoting over three decades at Trident, I requested the board of directors to relieve me and support to prioritise my overall health and wellbeing. My family will also be with me to rebuild my physical and emotional well-being. He said, I am hopeful that I will be able to serve once I regain my physical and emotional fitness. In agreement with the recommendations of the nomination and remuneration committee, the board appointed Gupta as 'Chairman Emeritus' of the company with effect from August 9. In this new role, Gupta will mentor, guide and provide perspective to the board and the management on matters relating to strategy, new business opportunities and corporate governance related matters. The board and the nomination and remuneration committee also approved the inclusion of two independent directors, one non-independent director and five professional managing directors on the board in addition to the existing directors. The board has been broadened based on management infrastructure aligned with business verticals -- bed linen, bath linen, yarn paper and chemicals. Trident Limited is the flagship company of Trident Group, a USD over 3-billion Indian business conglomerate. Headquartered at Ludhiana in Punjab, the company operates in three major business segments -- textiles, paper and chemicals -- with its manufacturing facilities located in Punjab and Madhya Pradesh.
According to monthly data issued by the Association of Mutual Funds in India, net positive inflows to equity mutual funds decreased by 42% in July to 8,898.25 crore from 15,497.76 crore in June 2022.
Rs 900-crore plant set up by Indian Oil Corporation (IOC) in Panipat to start on Wednesday
The institute study maps hotspots, suggests climate-smart agri practices and villages
Of the total 12, three lenders -- State Bank of India (SBI), Punjab National Bank (PNB) and Bank of India -- reported fall in their profits ranging from 7-70%
Recently, the Reserve Bank of India has once again raised the key lending rate by 50 basis points to 5.40% on August 5, 2022. This is the third rise in a row in the repo rate to control the surging inflation
Management and leadership changes, in addition to synchronising operations between all its airlines, are showing visible results for Air India. Data from the Directorate General of Civil Aviation (DGCA) show that there has been a marked improvement in key operational parameters of Air India after the Tata group took complete control of the national airline in January. One of the most dramatic improvements has been noticed in Air India's passenger load factor (PLF) - a crucial metric of capacity utilisation of an airline's fleet that shows how many seats it has been able to fill on every flight.
Ujjivan Small Finance Bank has revised its interest rates on savings accounts.
The area under paddy - the biggest foodgrain during the kharif season - was almost 13 per cent lower in the week ended August 5 as compared to the same period last year despite a slight pick-up in rains in the main growing regions, triggering fears of a 10-12 million-tonne drop in final output. Sources said with the peak sowing season for paddy almost coming to an end in the big-growing states, any uptick in coverage from here onwards may not give the desired yields. With 30 per cent of normal average area in which paddy is grown every year remaining unsown till early August, there is a limited chance of a big uptick in output, trade and market sources said.
Telecom operator Bharti Airtel will start rolling out 5G services this month and cover all towns and key rural areas of the country by March 2024, a senior company official said on Tuesday. Bharti Airtel managing director and CEO Gopal Vittal also said that the price of mobile services in India is very low and needs to go up. We intend to launch 5G starting August and extend to a Pan India roll out very soon.
Housing Development and Finance Corporation (HDFC), a provider of housing financing, announced on Monday a 25 bps hike in the retail prime lending rate (RPLR) on housing loans. The revised new interest rates will be effect from Tuesday, August 9, 2022.
By March 2024, all major towns and rural areas in the nation would have access to 5G services thanks to telecom provider Bharti Airtel, said a top corporate executive. Gopal Vittal, managing director and CEO of Bharti Airtel, also said that the current cheap cost of mobile services in India needs to increase. We plan to roll out 5G beginning in August and eventually throughout all of India. We anticipate being able to cover every town and important rural area with 5G by March 2024. In fact, entire plans for the development of the network in 5,000 Indian towns are already in place. In our history, this will be one of our largest rollouts, Vittal stated on the earnings call for the company. Bharti Airtel in the recently-concluded spectrum auction acquired 19,867.8 MHz frequencies by securing a pan-India footprint of 3.5 GHz and 26 GHz bands and select purchase of radiowaves in the low and mid-band spectrum for a total consideration of Rs 43,040 crore. Vittal downplayed the necessity of purchasing premium spectrum in the 700 megahertz band, which requires fewer mobile towers for coverage than other bands that telecom operators currently have, and stated the company's capital spending will stay around the current levels. ''Our competition doesn't have such a massive mid-band spectrum. Do remember that if we did not have this large chunk of the precious mid-band spectrum we would have had no choice but to buy an expensive 700 Mhz spectrum. And once we had purchased it, we would have needed to put powerful radios on this band. According to Vittal, there would have been an increase in carbon emissions in addition to greater costs. 5G spectrum auction bids cross Rs1.50 lakh cr Reliance Jio likely to launch 5G services in India on August 15 Spectrum-5G auction: Govt receives bids worth Rs 1.49-La-Cr
Sugar output seen around 350 lakh tonne after diversion of the commodity for ethanol production
Some people applying for mortgages, auto loans and credit cards had their scores changed by 20 points or more
Office space absorption across Indias six major cities stood at an 30.4 mn sqft registering a 130% year on year growth as of June 2022, according to International real estate advisory firm Savills India.The first half of 2022 also witnessed 76% increase in new supply infusion at 32.4 mn sqft. With this, the total Grade A office market stock in the country stands at 676.9 mn sqft.The year started with rising optimism on the back of growth in the 2021 calendar. Despite the impact of the third wave and Russia-Ukraine conflict which overshadowed the first quarter economically, occupier confidence stayed strong, said Arvind Nandan, Managing Director - Research and Consulting, Savills India.Top 3 cities Bengaluru, Delhi NCR and Pune, contributed to 66% of leasing activity in H1 2022. Bengaluru continued to remain the frontrunner with 10.7 mn sqft of leasing activity, registering a 110% increase from H1 2021.Meanwhile, overall absorption in cities of Pune, Chennai, Hyderabad and Mumbai remain similar in magnitude between 3.3 to 3.7 mn sqft.Most businesses took advantage of the available inventory to upgrade their real estate portfolios, which resulted in strong leasing activity across top 6 cities. Supply grew as well, making it an end users market. 2022 is expected to reach pre-pandemic levels as technology and IT-BPM sectors are once again driving demand for the office spaces, saif Nandan. Technology sector led the demand for office space with around 42% while pharma & healthcare occupiers increased their space take up by 2.8x when compared to H1 2021. The share of engineering and manufacturing as well as the flexible workspace segment increased by 3.3x and 4.8x respectively.Large deals of more than 100,000 sq ft in size accounted for 41% of overall transaction activity as compared to 44% in H1 2021. On the other hand, mid-size deals had close to 39% share in H1 2022 when compared to 34% in the previous yearBengaluru witnessed the highest share of large deals at 45% followed by Hyderabad and Chennai. Delhi NCR saw a dip of 44% YoY in new supply infusion, while Bengaluru recorded the highest supply infusion amongst the top 6 cities and had a share of 37% in H1 2022On account of supply outpacing demand, overall vacancy levels increased up to 19.2% and is likely to increase further due to strong construction pipeline in Southern cities, namely, Bengaluru, Chennai and Hyderabad.In terms of rental values, Gurugram and NOIDA saw the highest YoY growth at 20% and 11% respectively. Pune, however, saw its rental value remain range bound.
The travel and hospitality technology platform OYO on Tuesday announced that it has acquired Bornholmske Feriehuse, a provider of vacation rentals in Denmark, for an unknown fee. Bornholmske Feriehuse, based on the Danish island of Bornholm, has 737 holiday homes scattered across 30 holiday parks on its platform and anticipates booking more than 2.5 lakh guest nights by the year 2022, according to a statement from OYO. The company's subsidiary DanCenter completed the acquisition via the 'Invest in Denmark' initiative of the Danish government, which offers specialised one-stop assistance to foreign companies wishing to establish up or expand a business in the country, it continued. Bornholm displays significant potential for tourism in the coming years, said Ritesh Agarwal, founder and CEO of OYO. Rasmus Lund and Jacob Lund established Bornholmske Feriehuse in 2002. This full-stack provider offers customers end-to-end solutions. According to the announcement, Rasmus Lund will continue to lead Bornholmske Feriehuse and expand business operations.The partnership between OYO and DanCenter A/s offers the opportunity to meet demand, just as homeowners gain from the numerous internet portals DanCenter partners with. In the future, more than 130 internet portals, with which DanCenter closely collaborates, will provide Bornholmske Feriehuse vacation houses for reservation. In Europe, OYO has operations in the Netherlands, Belgium, Germany, Austria, and Croatia, among other nations. The domestic company purchased the Croatian company, Direct Booker, in May of this year. Direct Booker has over 3,200 residences and serves 20 lakh consumers. Microsoft to open network for digital commerce in Indian markets DuckDuckGo blocks Microsoft tracking scripts from loading on websites SoftBank posts $17 billion Vision Fund loss following tech slump
On fixed deposits below 2 crore, Ujjivan Small Finance Bank has increased interest rates.
Market Pulse raised a total of $1 million for its data and analysis business from Kishore Ganji, angel investor and mentor at Astir Ventures; Rashmi Kwatra, founder and CIO at Sixteenth Street Capital; and Umasankar Nistala, CIO-Payments at Fiserv, among others
Clinikk offers an all-inclusive plan that offers families unlimited access to outpatient care as well as 5 lakh cashless hospitalisation insurance cover for a monthly subscription fee of 500. The insurance cover has been curated specially for Clinikk members by an insurance partner.
Major cryptocurrencies as of writing this copy at around 3:15 pm are trading with losses. Bitcoin is down by over 2% at $23,588, Ethereum down by over 1% at $1754. Other cryptos such as Cardano, Polygon, Avalanche lose up to 7%.
Maternity expenses are generally not part of the built-in cover and would be optional. They would also come with a waiting period of 2 or 3 years.
Honda Motor and Hindustan Petroleum Corporation Ltd. (HPCL) have partnered to set up battery swapping stations for electric vehicles at the state-owned oil firm's petrol pumps. According to a statement released by the state-owned company on Tuesday, HPCL and Honda Power Pack Energy India Pvt Ltd, a division of Honda Motor Co Ltd (Honda), unveiled their first e: swap station at an HPCL gas station in Bengaluru on August 6. With the quick uptake of environmentally friendly electric cars (EVs) powered by electricity-charged batteries, infrastructure is being built nationwide to either provide facilities for charging such vehicles or to replace drained batteries with fully charged ones. Even if filling up with gasoline or diesel is faster, battery swapping provides a speedier option. Customers may swap out their used batteries for fully charged ones at e: swap stations in about two minutes, according to the statement. The Battery-as-a-Service (BaaS) model also enables users to borrow batteries independently of the cars. Giving the battery away reduces the upfront cost of buying an EV. Currently, the swapping station at HPCL's Old Airport Road location will serve e-3 wheelers. The announcement read, In a year, the garden city of Bengaluru will have more than 70 such e: exchange Stations, after which other cities would be taken up. Sandeep Maheshwari, Executive Director - Retail, HPCL, spoke at the event and pledged the company's commitment to hastening India's transition to cleaner energy. With 1,058 EV charging stations at our retail locations around the nation, we are one of the largest charge point operators in the country. Today, in collaboration with HEID, we are announcing another effort that will change the game, he said. Tata Motors' EV arm acquires Ford's plant in Gujarat in Rs726 cr Ola Electric to Announce New Product on Independence Day Scorpio-N gets max traction in urban centres
Nayanthara and Vignesh Shivan will reveal how they fell in love.
Shriram Transport Finance Company, a Non-Banking Financial Company (NBFC) on Tuesday said that it has hiked interest rates on its fixed deposit scheme.
In a major development, the Sher Bahadur Deuba government has allowed India's NHPC to study and develop two hydroelectric projects that will have the combined potential of generating 1,200 megawatts of energy.
India's smartphone market has fallen by one per cent in the first half of 2022, as shipments of Xiaomi - the top-selling brand - declined 28 per cent due to weak consumer demand in the quarter ended June. According to the International Data Corporation's (IDC's) Worldwide Quarterly Mobile Phone Tracker, 71 million smartphones were shipped from January to June this year. The highest decline was in the below-$100 segment, which lost its market share by 5 per cent.
The revised interest rates from Shriram Transport Finance Company will apply on its fixed deposits of tenures between 12 and 60 months
Indian Overseas Bank (IOB), a public sector lender, increased interest rates on fixed deposits below 2 crore.
The Ministry of Labour & Employment has informed in Lok Sabha that EPFO invests in Exchange Traded Funds (ETFs)
After launching expressway projects worth almost Rs 1 trillion, the Uttar Pradesh government is now betting big on the aviation sector to propel the state's economic growth. Air travel, comprising both business and leisure, is expected to give a fillip to the socioeconomic landscape by attracting fresh investment. It would also ramp up infrastructure and create jobs.
Adani Properties (APPL), a privately held company of industrialist Gautam Adani, last week raised Rs 800 crore debt from Credit Suisse for financing expansion and acquisition in the realty space, said people aware of the development.The company has also raised funds from Barclays Merchant Bank and an affiliate of JPMorgan Chase in recent months.The Adani Group, JPMorgan and Credit Suisse did not respond to ETs queries. Barclays declined to comment.APPL, which raises finances for Adani Group companies, borrowed Rs 2,525 crore this fiscal year starting April at an average rate of 15% per annum and tenure of one to three years.All the funds were raised through zero-coupon bonds by pledging shares of SB Adani Family Trust, which holds the promoter shares of listed Adani Group companies, the people said.Credit Suisse provided Rs 800 crore in three tranches in August and Rs 550 crore in two tranches in April. Barclays invested Rs 425 crore into bonds maturing on April 30, 2025, while Copthall Mauritius Investment, an affiliate of JPMorgan, provided Rs 750 crore in four tranches in April.Adani Properties' bonds are rated as IVR AA (CE) with a stable outlook by rating company Infomerics.The rating company stated that credit enhancement (CE) was provided by the share pledge of Adani Ports & Special Economic Zone (APSEZ), Adani Transmission and Adani Green, along with a security cover of twice the amount borrowed. Without the credit enhancement, the credit rating would be IVR A+/stable.Adani Properties posted a profit after tax of Rs 4,793 crore for fiscal 2021 against a loss of Rs 124 crore the year before, according to Infomerics. Its total debt stood at Rs 28,617 crore as against Rs 21,088 crore as on March 31, 2022. The total debt raised by the Adani Group by pledging its shares stood at Rs 8,841 crore as of May 31, 2022, which is 1.1% of the promoter holdings in the groups listed companies, according to a statement issued by Infomerics Ratings on August 8.SB Adani Family Trust holds promoters stake in Adani Transmission, Adani Enterprises, APSEZ, Adani Total Gas, Adani Power, and Adani Green among others.Repayment of loans raised by APPL is supported by the group companies and refinancing or strategic equity raised by the holding companies, Infomerics said in a statement.
79% of offerings in leaf, 85% in dust category sold at Coonoor tea auction
All four public sector insurers incurred losses of Rs 26,364 crore in the health insurance portfolio for the last five years due to higher claims in group policies, a CAG report said. The losses of the health insurance business of PSU
Hardik Khatri, technical analyst, Opensignal said, Vi wins all speed awards. Vi is the winner of the Download Speed Experience and Upload Speed Experience Awards. Our users on Vi's network, on average, had the fastest download speeds of 13.6 Mbps and fastest upload speeds of 4.9 Mbps.
India's forex reserve has seen tremendous growth since 1990s. As per a data from Ministry of Information and Broadcasting, the India's forex reserve which stood at 9.22 USD Billion in 1991-92, jumped to 607 USD billion in 2021-22.
Portfolio management: Gold may give up to double digit return to its investors in long term, believe experts
Here is everything you want to know about Indias national anthem.
NCLT stated that a note has been circulating on the Whatsapp group saying that with effect from August 10, the tribunal will hear urgent matters until further notice. The tribunal stated they did not issue the notification and said it has to be ignored as not valid.
The order states that there is a shortage of members throughout NCLT benches that is amplified further with members seeking leave on account of a health and personal reason.
Radhika Gupta shared a string of images on social media.
Following the international commodity price trend, Indian gold prices and silver prices are also sharply up today. On August 9, the 22-carat gold rate stood at Rs. 47,950/10 grams, and 24-carat gold rate stood at around Rs. 52,310/10 grams. The present
The share price of Royal Orchid Hotels Limited reached a fresh 52-week high-level today, on August 9. On the back of a bullish Nifty 50. In 2022, the smallcap hotel company's stock has surged by 121%, giving high returns to its
Reliance Industries (RIL) will hold its 45th annual general meeting (AGM) for the fiscal year 2022 on August 29, 2022. The meet shall commence from 2 pm (IST) via video conferencing. The notice regarding the 45th AGM and Integrated
SSY interest rate for Q2FY23 is 7.6 per cent and it is still much above the average rate of inflation
Tata Communications under-reported gross revenue between 2006-07 to 2017-18 which led to a Rs 645 crore lower levy of licence fee during the period, the Comptroller and Auditor General of India (CAG) has said in a report. The CAG, in the
Home loan EMI: Banks reset MCLR linked long term loans in 6 months and repo rate linked loans in three months
The prices of petrol and diesel continue to remain steady even on the 80th day as the leading Oil Marketing Companies decide to keep prices unchanged on August 9, 2022. The price of 1 litre of petrol is in Delhi is
Sham Kaushal recently completed 42 years in the Indian film industry.
The Government of India (GoI) has announced the Sale (re-issue) of (i) 7.38% Government Security, 2027 for a notified amount of Rs 9,000 crore (nominal) through price based auction using uniform price method; (ii) GoI Floating Rate Bonds, 2028 for a notified amount of Rs 4,000 crore (nominal) through price based auction using uniform price method; (iii) 7.54% Government Security 2036 for a notified amount of Rs 11,000 crore (nominal) through price based auction using uniform price method and (iv) 6.99% Government Security 2051 for a notified amount of Rs 8,000 crore (nominal) through price based auction using multiple price method. GoI will have the option to retain additional subscription up to Rs 2,000 crore against each security mentioned above. The auctions will be conducted by the Reserve Bank of India on August 12, 2022 (Friday). Up to 5% of the notified amount of the sale of the Securities will be allotted to eligible individuals and institutions as per the Scheme for ...
Whenever policy rates start going up, the banks start hiking the interest on FD rates
Irregularities at post offices led to misappropriation of Rs 95.62 crore of public money between November 2002 to September 2021, the Comptroller and Auditor General of India said in its report on Monday. According to the report, CAG noticed that Savings
With Chinese companies Huawei and ZTE excluded from participating in the 5G roll out, their absence leaves a vacuum in the market which will have to be filled by three vendors: Ericsson, Nokia and Samsung.
The Reserve Bank on Monday said small finance banks which have completed two years of operations and have a minimum net worth of Rs 500 crore can deal in foreign exchange. In a circular, the RBI said this is being permitted
The government is not considering setting up 8th Pay Commission for central government employees, Minister of State for Finance Pankaj Chaudhary informed Lok Sabha on Monday. No such proposal is under consideration with the government for constitution of 8th Central Pay
The show is based on passages from George R.R. Martin's 2018 novel 'Fire & Blood'.
The actor is accused of stealing alcohol bottles from a residence when homeowners were away.
Credit disbursements to small businesses have doubled compared to the pre-pandemic levels but bankers seem to be cautious and are largely sticking to existing borrowers in extending the loans, a report said on Monday. The report by a credit information company
Finance Minister Nirmala Sitharaman on Monday said the Reserve Bank of India (RBI) has taken steps to promote rupee as the preferred currency for global trade in order to promote exports. Last month, RBI asked banks to put in place additional
ITR filing: One can file a revised income tax return within 3 months of completion of the assessment year
Currently bhadraksha, a poisonous seed, is being passed off as a rudraksh.
National Pension System (NPS) subscribers can now change their investment pattern sans the approval of the nodal office, Pension Fund Regulatory and Development Authority said in a notification. It has been determined to allow the change in investment choice online, wherein the subscriber can submit the request directly in the Central Recordkeeping Agency login and which has to be authenticated through a one-time password received on the registered mobile or email ID, the authority said. Earlier, subscribers required authorisation from the nodal office for processing the application to change the investment pattern. Once the subscriber opts for investment choice, the accumulated Tier I contributions shall be redeemed and reinvested in the new scheme as per defined process and within specified timelines, the notification said. Keeping this track, all subsequent contributions will be invested as per the new investment pattern, PFRDA said. The subscribers can also revert to the default pattern of investment as per the guidelines, the pension regulator said. Currently, PFRDA permits government subscribers to change asset allocation two times and a year and provident fund once a year. The subscribers associated with state governments and autonomous bodies of state or Centre can also exercise choice of PF and investment pattern, if the respective agencies allow them to. The cumulative corpus of various schemes under the National Pension System stood at 7.38 trilion rupees as of May 31, according to data from the Pension Fund Regulatory and Development Authority. PFRDA to roll out guaranteed pension programme under NPS When will the pension of ex-servicemen be increased? Govt response in Parliament Banks cant perennially rely on support credit offtake: RBI Das
Jyothy Labs, part of the household products industry, hit a fresh high of Rs 185.90 on 8 August 2022 for the first time since 2019 can be a good buy on dips stock for a possible target near Rs 200 in the next 3-4 weeks, suggest experts.The stock rose more than 30 per cent so far in 2022. It rose more than 6 per cent in a week, and over 18 per cent in a month, Trendlyne data showed.The stock is trading near overbought levels so some pullback can be expected, but experts advise short-term traders to buy the stock on dips for a target of Rs 189-198.The level of Rs 180-181 proved to be critical resistance in the past, but now a close above the same on weekly charts suggests momentum. The Relative Strength Index (RSI) is at 68. RSI below 30 is considered oversold and above 70 is considered overbought, Trendlyne data showed. MACD is above its center and signal Line, a bullish indicator.After hitting a low of Rs 130 on 25 February 2022 (52-week low), the stock has been in an uptrend. The stock reclaimed its 50-DMA on 5th July 2022 and since then it has been making higher high and higher low formations which is a positive sign for bulls.Jyothy Labs, is a mid-cap company (having a market cap of Rs 6,648.31 Crore) operating in the FMCG sector. Its key products/revenue segments include personal care and Scrap for the year ending March 31, 2022. 93432184On the price front, the stock is trading most of its crucial short and long-term moving averages such as 5,10,30,50,100 and 200-DMA which is a positive sign.In the last few months, the stock has formed a Higher Top Higher Bottom formation, and this is an uptrend.In the last couple of months, the price up moves have been supported by good volumes and prices have now given a breakout from its resistance which indicates the probability of a continuation of the uptrend in the short term, Ruchit Jain, Lead Research, 5paisa.com, said. 93435724The RSI oscillator also indicates a positive momentum; hence, we expect an outperformance from the counter in the short term.Traders can look to buy stock around the current market price of Rs 181 and add on any declines towards the support of Rs 175, he said.The stop loss on long positions should be kept below its 20-day EMA which is at Rs 168 while the potential short targets are seen around Rs 189 followed by Rs 198 in next 3-4 weeks, recommends Jain.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
The country's largest lender State Bank of India on Saturday (SBI) reported a 6.7% drop in standalone profit after tax to 6,068 crore for the June quarter after it booked 6,549 crore MTM losses on its investment book. Its operating profit dropped to 12,753 crore in the April-June period from 18,975 crore in the year earlier, dented by MTM losses.
India's passenger vehicle sales this year are expected to be about a quarter of a million units more than the initial projections that were themselves for record high volumes, industry executives said.
There are eight pension fund managers to choose from and one of the ways to do that is by tracking returns
For a citizen of India or a person of Indian origin, who is visiting India, the 60 days are considered changed in the following manner. If total income, other than income from foreign sources, exceeds 15 lakh, the 60 days are substituted by 120 days; in any other case, the 60 days are substituted by 182 days
Markets are efficient to some extent so its extremely difficult to beat benchmarks
Gupta has a traditional asset allocation approach, invests in mutual funds and PMS with a diversified portfolio
The area covered under paddy stood at 274.30 lakh hectare as on August 5, against 314.14 lakh hectare in the corresponding period last year, according to data released by the agriculture ministry on Monday.