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Last updated on 24 Sep,2021 06:54 PM
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- Freshworks IPO has made 500 employees crorepatis, says CEO Girish Mathrubootham"I want all my employees to have BMWs," Freshworks CEO Girish Mathrubootham had told The Economic Times in an interview in 2015. After the Freshworks IPO, that may have become a reality for at least 500 of them.
- Modi in US: India has set the ball rolling for the biggest reorganization of its military since independenceA more unified Indian armed forces would make it easier for the country to link up with militaries from the U.S. and its allies in the event of a conflict. A key aspect of the AUKUS partnership announced last week by the U.S., Australia and U.K. involves interoperability in a range of defense areas.
- Canada extends ban on commercial and private passenger flights from IndiaTravelers eligible to enter Canada will be able to board direct flights from India once the restriction on direct flights expires, provided they have a proof of a negative COVID-19 test, according to the statement.
- 40 percent work of Mumbai coastal road project complete: Civic chiefThe completed work includes a tunnel of one-km length and 40-feet diameter under the Malabar Hill in south Mumbai. Only work on 900 metres of the tunnel is remaining now, Chahal said. The project will be completed in November 2023, he said in a statement.
- Apple India e-store a sellout within a year of its launchThe iPhone maker seems to have cracked the hyper-competitive discount-laden Indian ecommerce market with its India online store accounting for around 4% of its total sales volume as of June quarter, as per estimates by global market researcher IDC India.
- India's biggest electric scooter maker wants 2027 end for petrol-run two-wheelersIndia’s shift to electric vehicles has been hampered by high prices and a lack of charging infrastructure. Whereas China accounts for 97% of the world’s e-scooter fleet, they make up less than 1% of total sales in India, according to BloombergNEF.
- Right time to enter India, says MD of Berkshire HathawayCovid affected the company's expansion plan because of travel restrictions, but it added some offices in Germany, the UK and Spain, and managed to open India, Greece, Bahamas and Mexico among others.
- Sensex surges 1,000 points to hit fresh highs: Key factors driving the marketBroader market indices were trading higher, outperforming their headline peers in morning trade. Nifty Smallcap was up 1.11 per cent while Nifty Midcap advanced 1.14 per cent. Broadest index on NSE, Nifty 500, was up 0.79 per cent.
- Zee-Sony deal: An Indian media mogul beat a US activist fund. Or did he?Where does the merger leave Invesco? To the extent that its activism precipitated the announcement, the investor can give itself a pat on the back for unlocking value. The shareholders’ meeting it had called to oust the CEO may no longer be necessary. Everybody won — the Indians, the Americans, and, of course, the Japanese.
- 5 'consensus' buys from Sensex pack that missed the Sept rallyTata Steel, the worst Sensex performer, has 26 'buy' calls among 29 recommendations. This stock is down 9 per cent for the month till Wednesday. A median estimate suggested a 12-month target of Rs 1,758 for the stock, suggesting a potential 33 per cent upside.
- US to lift Covid travel ban for vaccinated Indian passengers from NovemberThe easing of travel restrictions, imposed by Donald Trump 18 months ago as the Covid-19 pandemic first erupted, marks a significant shift by Biden and answers a major demand from European allies at a time of strained diplomatic relations. The US will allow fully vaccinated individuals to enter the country from November, this year.
- Ola's EV entry gives spark to price warAther Energy, Okinawa and Simple Energy and traditional two-wheeler makers such as TVS Motor, Hero Electric and Bajaj Auto are retailing electric scooters in the Rs 70,000 to Rs 1.13 lakh range, aided by state subsidies.
- There were sceptics. But we knew this company would survive: Vodafone Idea MD Ravinder TakkarTakkar said that government has sent a message that this is an important sector, important for digitization of the country, has a huge impact on growth and digitization of the economy and they are willing to make changes for growth of the economy.
- Japan's heavy equipment leader Kubota may raise stake in EscortsJapanese agriculture and heavy equipment firm Kubota Corp is in talks with the Nanda family - promoters of India's Escorts Ltd - to increase its stake and eventually become a controlling shareholder in the tractor maker and engineering construction company, said people aware of the
- Ola's entry triggers price war in electric two-wheeler spaceRide-hailing firm Ola's entry into the electric two-wheeler space has triggered a price war in the segment.
- Gold may slip to Rs 44,200; better opportunities in silver, natural gasGold futures are down 0.72 per cent at Rs 46,337 and silver futures are down to Rs 60,670, slipping 0.83 per cent on Thursday. But this may just be the beginning, say analysts, who project gold hitting as low as Rs 44,200 level soon.
- Tata is getting its SuperApp vetted by employees before launchTata Digital is vetting its SuperApp - a one-stop portal to avail various consumer services of Tata Group from buying groceries to booking hotel rooms - through the group's 700,000-plus employees before its official launch for general public early next year. Already a closed user base has begun beta testing the app and it will be accessed by all employees in phases over the next few months, officials close to the development said.
- Freshworks lists on Nasdaq after billion-dollar IPOThe Freshworks IPO saw the SaaS startup sell 28.5 million shares at $36 apiece, up from the marketed range of $32-34. Freshworks’ share price then surged on listing, rising as much as 33% to $48 in initial trade on Nasdaq.
- Powell says Fed taper could start ‘soon’ and end around mid-2022If progress toward the Fed’s employment and inflation goals “continues broadly as expected, the committee judges that a moderation in the pace of asset purchases may soon be warranted,” the U.S. central bank’s policy-setting Federal Open Market Committee said Wednesday in a statement following a two-day meeting.
- After promises of new models and long haul, Ford’s exit shocker puts dealers, staff in a blind spotCurrently, there are 170 Ford dealers with a total investment of INR2,000 crore and 40,000 employees. Most dealerships are small and medium enterprises. They have mortgaged their property to get long-term loans for starting up. While Ford might later open another chapter in India with imports of high-value niche products, it first needs to make this exit smooth.
- Paras Defence IPO sees record 304.3 times subscription on Day 3Most of the analysts are also positive on Paras Defence IPO
- ITR filing penalty: These taxpayers don't have to pay late fee for missing deadlineThere are certain individuals who can file their ITR without paying a penalty even after the expiry of the deadline. Let us take a look who will not have to face penal consequences for missing the ITR filing deadline.
- Rakesh Jhunjhunwala makes a killing on ZEE, earns 50% return in just a week!At Wednesday's high of Rs 332.30 on BSE, Rakesh Jhunjhunwala's stake in ZEE was valued at Rs 166.15 compared with Rs 110.20 crore as on September 14.
- Large companies, banks may have to split top management salariesGenerally, the salaries of chief executive officers (CEOs) and chief financial officers (CFOs) become expenses only of the head office—where they sit--and not all the branch offices.
- Realty set for a multi-year bull run, go for direct plays: Dipan Mehta“ Do not play the real estate theme indirectly through appliances or home improvement or home décor companies. They have their own trajectory and they have their own challenges in terms of rising cost of inputs, supply disruption."
- Mathrubootham's wife, sons & pet Shih Tzu all smiles as Freshworks IPO at Nasdaq creates historyThe 46-yr-old called going public in the US a "dream come true."
- Money-making IdeasAs the market is hovering near all-time highs, risks of a correction is hightening. We are already seeing uncertainty on the interest rate front and Evergrande crisis. But amid this, there are some stocks that are presenting good opportunities to make money in the short term. Analysts advise to make a move in these seven names.
- United States rules out adding India or Japan to security alliance with Australia and UK"The announcement of AUKUS last week was not meant to be an indication, and I think this is the message the President also sent to (French President Emmanuel) Macron, that there is no one else who will be involved in security in the Indo-Pacific," said White House Press Secretary Jen Psaki.
- Stock Idea | With a 3-fold jump this year, this smallcap has everything going for itInvestors have already identified the opportunity that the company presents. The stock has climbed nearly three times this year. And, analysts see up to 35 per cent more potential upside from current level.
- Stocks in the news: Bharti Airtel, ZEE, Adani Ports, Jubilant Ingrevia and IDFC Shareholders of IDFC rejected the re-appointment of former CAG Vinod Rai as non-executive chairman of the company.
- 'Just an Indian thing!' PM Modi shares flight-mode 'work' pic, Twitter goes wild about the suitcase 'lock'A tiny object seemed to catch everyone's attention.
- These cryptocurrencies have fallen 40% in 2 weeks; is it time to buy?Barring the dollar-pegged stablecoins, top cryptocurrencies have declined as much as 40 per cent in just a couple of weeks. Ethereum has dropped the most, up to 39 per cent. It was followed by XRP and Solana, declining 36 per cent each.
- Celebrating the grit and resilience of the many small businesses that rebuilt themselves by going onlineAmazon has supported this spirit of entrepreneurship by providing them with a country-wide customer reach, reducing shipment cost, logistical assistance, easy inventory management, and easy listing of products etc.
- Day Trading Guide: 2 stock recommendations for ThursdayPrice volatility is likely to inch higher and sustenance below 17,800 could mean Nifty50 is due for mean reversion and mild consolidation/pullback is possible.
- Bitcoin fever reaches Honduras with first cryptocurrency ATMThe Congress of El Salvador approved in June https://www.reuters.com/technology/bitcoin-become-legal-tender-el-salvador-sept-7-2021-06-25 a proposal by President Nayib Bukele to make the country the first in the world to adopt Bitcoin as legal tender.
- Evergrande's debt issues a wake-up call for China's economyDozens of angry and worried investors picketed Evergrande's headquarters in the southern city of Shenzhen for weeks. They had bought investment products from Evergrande that now look nearly worthless, as its Hong Kong-listed stock plummeted by nearly 90 per cent in value this year.
- Narendra Modi US visit highlights: PM meets leading American CEOsModi, who is visiting the US for the 7th time after assuming office in 2014, said his visit would be an occasion to strengthen the Indo-US Comprehensive Global Strategic Partnership and consolidate ties with Japan and Australia.
- Auto debit rule: ICICI, Axis and HDFC assure continuity of servicesThree of India's largest private lenders - HDFC Bank, ICICI Bank and Axis Bank - said they will meet the Reserve Bank of India's mandate for recurring payments ahead of the October 1 deadline.
- Sensex touches 60,000; when will the index hit 200,000?Sensex has grown at a CARG of 14.06% over the past 20 years. Growth in corporate earnings drives the valuation of companies and is dependent on economic growth. So, the most fundamental aspect which will decide if Sensex can follow the upward trend seen over the years is whether the future economic growth of the country follows previous trajectory or not.
- Bad News! 5 charts show this bull market may be nearing tipping pointBrokerage firm Jefferies India in a recent report highlighted how several metrics in the stock market are suggesting that a tipping point for investors may be near. Given the fact that investors have been lulled into complacency by streaks of record highs and freak stock price movements, the rollover when it comes could be painful.
- Day Trading Guide: 2 stock recommendations for FridayNifty resumed its northbound journey in an uncharted territory. Moreover, Nifty breadth also turned positive with 76 per cent of Nifty50 components settling in green. All the sectoral indices ended positive, suggesting broad-based buying.
- Money-making IdeasMUMBAI: While Monday’s sell-off in the broader market has sowed uncertainty among investors given the brewing credit crisis in China, investors are still showing willingness to riskier bets in specific stocks.Below we list out six such stocks in the futures and options space where traders are building bullish positions in the September futures contract.
- Sony comes to Zee Entertainment’s rescue, signs term sheet for mergerThe merged entity will remain a publicly listed entity in India with Goenka as MD & CEO, while NP Singh, MD & CEO of SPN, is likely to be on the board of the company. The majority of the board of directors of the merged entity will be nominated by Sony Group.
- Rakesh Jhunjhunwala's latest stock bet plunges 26%; risk-reward negative, say analystsJhunjhunwala bought 1.39 per cent in the PSU during the April-June quarter. But the stock is on a steady fall after it hit its peak of Rs 151.10 on May 10.
- What sparked Sensex’s 958-point rally? It’s not the Fed, silly!For the bears that were counting on the Evergrande crisis to blow up and initiated short positions in Nifty50 and Nifty Bank’s September contracts, the overnight developments were bad news. Today, those short positions were covered hurriedly, causing a mild short squeeze in banking stocks.
- Infosys says new IT portal clocked 3 crore logins, 1.5 crore ITRs filedThe figures indicate that Infosys has been able to fix most of the IT portal glitches that taxpayers encountered since the new website went live in June. The company says it remains committed to making rapid progress on the website.
- Freshworks’ share price surges 21% over IPO, market cap at $12.2 billionFreshworks had priced its initial public offering (IPO) above the top end of the range to raise $1.03 billion. It had earlier raised its price range, aiming to sell 28.5 million shares at $32-34 each.
- Debutant stock trades below IPO price; brokerage sees 54% upsideHDFC Securities' institutional team pegs the loss-making Nuvoco Vistas at 11 times its consolidated September 2023 Ebitda to arrive at a 12-month target price of Rs 827. On Tuesday, the stock traded at Rs 537, down nearly 6 per cent from issue price.
- UK riles India with vaccination certificate snubThe UK on Wednesday added Covishield, the India-manufactured Oxford-AstraZeneca Covid-19 vaccine, to its list of approved vaccines for international travellers but refused to accept the country's certification, triggering a fresh row.
- South-based realty cos in sweet spot amid booming IT hiring, improving demandA strong trend in hiring by IT companies, better affordability relative to Mumbai and NCR property markets and the stamp duty cut by the Karnataka government are favorable factors for these companies.