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GIFT City partners with Vietnamese financial institutional firm to exchange knowledge and signs multiple MoUs
GIFT City partnered with Vietnam's VIFC-DN to share financial hub development knowledge. This collaboration will focus on financial services and digital innovation. The Indian financial center also signed MoUs with Tata Communications. These agreements aim to boost GIFT City's appeal for global businesses. Additionally, CEPT University will collaborate on research and urban planning initiatives.
Nifty July futures trade at a premium
HDFC Bank, Dixon Technologies (India) and Reliance Industries were top traded contracts.
Stocks in news: Marico, Adani Enterprises, Tata Motors PV, PB Fintech, PNB
Indian markets saw a second day of gains, with the Nifty reclaiming its 100-day moving average, signaling a bullish trend. Key companies like Marico, Tata Motors PV, and Adani Enterprises are in focus due to strong Q1 updates and fundraising plans. PNB and Bank of India reported significant credit growth, while HDFC Bank is enhancing its AI and fraud detection capabilities.
Stocks in news: Waaree Energies, Kotak Bank, HDFC Bank, Strides Pharma, Persistent Systems
Indian markets showed volatility, ending nearly flat despite positive signals. Analysts note Nifty faces resistance from key moving averages, with a decisive close above 24,200 crucial for further gains. Several companies like Waaree Energies, Kotak Bank, and Tata Motors are in focus due to significant developments, including US investigations, strategic partnerships, and EV expansion plans.
Rajesh Exports failed to produce foreign transaction records: ED
The Enforcement Directorate on Wednesday alleged that gold refining and jewellery manufacturing company Rajesh Exports' key business indicators showed "significant" departures from normal commercial practices, in addition to the non-availability of records related to foreign transactions. The federal agency issued a statement after conducting searches against the Bengaluru-based company and persons linked to it on June 23 for suspected contravention of the Foreign Exchange Management Act (FEMA). The ED identified at least five issues against Rajesh Exports Ltd (REL) and recovered various "incriminating" documents and digital devices during the searches. The company has not yet responded to a PTI query regarding the ED action. The stock exchanges have also sought clarification from the company. Founder and Chairman of the company, Rajesh Mehta, denied any fund diversion or wrongdoing during a recent interview with PTI. He had said that the company will fully cooperate with the fresh
BSE seeks clarification from Rajesh Exports on ED searches
The Bombay Stock Exchange (BSE) on Wednesday sought a clarification from gold jewellery firm Rajesh Exports Ltd over reports of searches conducted by the Enforcement Directorate (ED) at multiple locations linked to the Bengaluru-based company. The exchange's query came a day after the central agency searched nine premises connected to the firm under the provisions of the Foreign Exchange Management Act (FEMA). "The reply is awaited," Rajesh Exports said in a regulatory filing. The development marks a fresh escalation in the legal troubles surrounding the company, which is already facing allegations of a massive financial fraud levelled by the Securities and Exchange Board of India (Sebi). Rajesh Mehta, the company's Founder and Chairman, recently denied any fund diversion or wrongdoing in an interview with PTI. He said the firm would fully cooperate with the fresh forensic audit ordered by Sebi and would not challenge the market regulator's interim order against it.
Sensex Today | Stock Market LIVE Updates: GIFT Nifty trades flat; Tata Motors PV in focus
Sensex Today | Stock Market LIVE Updates: Reclaiming that 23,800 level will be the first target of the bulls before seeking a move back to the 24,000 mark. After ending at the day's low, the Nifty Bank is back at the lower end of the 57,000 - 58,000 range, one that the bulls would want to defend before the truncated week ends.
Sensex Today | Stock Market LIVE Updates: GIFT Nifty cuts gains, trades flat, IDFC First Bk in focus
Sensex Today | Stock Market LIVE Updates: For the Nifty, which traded in a 100-point range on Monday, the 24,000 level remains the key and a crucial psychological support at 23,900 - 23,800 zone. The Nifty Bank briefly crossed 58,000 on Monday but could not hold on, even though it remains close to those levels.
Stocks in news: IFCI, Tata Motors, General Insurance Corp, Corona Remedies, HFCL
Markets extended their winning streak for the fourth consecutive session, driven by favorable global cues and sustained sector-wide buying. The Nifty reclaimed the 24,000 mark, approaching the 100-day EMA near 24,150. Stocks like IFCI, Tata Motors, and HFCL are in focus due to significant news developments, including IPO filings, turnaround projections, and major order wins.
Stocks in news: Prime Focus, Groww, GIC RE, Wipro, Nykaa
Indian benchmark indices traded with a positive bias, with the Nifty consolidating near the 24,000 mark and closing near its day's high. Several companies, including Prime Focus, GIC RE, Wipro, Groww, and Nykaa, were in focus due to significant news developments. These ranged from regulatory approvals and successful acquisitions to strategic AI collaborations and expansion into international markets.
Stocks in news: Tata Steel, ICICI Bank, Tata Motors, Vedanta, Maruti Suzuki
Indian markets traded cautiously on Thursday's weekly expiry, with analysts observing a continued tussle for direction in the Nifty. Key companies like Tata Steel, Tata Motors, ICICI Bank, Vedanta, and Maruti Suzuki are in focus due to significant business updates and regulatory developments.
Sebi bars Chairman Mehta from trading in Rajesh Exports shares
Securities and Exchange Board of India has barred Rajesh Mehta, chairman of Rajesh Exports, from trading company shares. A forensic probe uncovered alleged revenue inflation and fund diversion over four years. The regulator found the company presented a misleading financial picture. Sebi has ordered a fresh audit and referred auditors' conduct for action.