Shares of Colgate-Palmolive (India) Ltd. declined as the company’s plans to regain lost market share failed to cheer analysts. The newly appointed Chief Executive Officer, Prabha Narasimhan, mapped out plans to focus on four key areas to win back lost market shares and restore growth that was seen two to three years ago. “While initiatives … Read more
Quant Mutual Fund remains focused on India despite rupee depreciation and expects it to be a theme that will play out amid risks in global markets. “We are very much India-centric despite rupee depreciation. We have not built a portfolio which is export-centric, rather domestic-centric economy we have built,” Sandeep Tandon, chief investment officer at … Read more
The board of Paytm’s parent One97 Communications Ltd. approved a proposal to buy back equity shares worth Rs 850 crore.The parent of the payments platform will repurchase 1.049 crore equity shares, representing 1.6% of the total paid-up share capital, according to an exchange filing. It will repurchase shares through the open market route at up … Read more
The Indian rupee depreciated against the U.S. dollar on Monday, snapping a three-day winning streak.The local currency depreciated 25 paise to 82.52 at the open, against the greenback. It closed at 82.27 on Friday.During opening trade, the rupee fell 0.47% to 82.66.The rupee hit a record low of 83.29 on Oct. 20.
U.S. stocks were upbeat on data indicating moderation in the labour market, paving the way for less hawkish Federal Reserve stance. The S&P 500 rose 0.7%, while the tech heavy the Nasdaq 100 was up 1%. The yield of 10-year Treasuries advanced five basis points to 3.44%. Oil was up 0.8% after paring significant gains … Read more
India’s stock benchmarks reverted to decline mode after snapping the joint longest losing streak on Friday, dragged by broad-based losses across sectors led by commodities, FMCG, utilities, auto, banking and power, while healthcare stocks bucked the trend. It came amid a slide in global equities as markets are spooked by global central banks’ commitment to … Read more
Shares of FSN E-Commerce Ventures Ltd., the operator of the fashion products platform Nykaa, gained as much as 11% after the company’s board approved a bonus share issue. Nykaa has approved a bonus share issue of five new shares each for one held by the shareholders, according to an exchange filing. The company had on … Read more
Shares of SpiceJet Ltd. fell the most in three weeks after India’s aviation regulator extended the cap on its operations till Oct. 29.The Directorate General of Civil Aviation had on July 27 directed the budget carrier to operate at 50% capacity after a series of in-flight incidents. It had put the initial cap at eight … Read more