Dehradun, Gadhsamvedana News: Today, an occasion was coordinated by Three Finger Diversion Restricted at a lodging “The Emerald Excellent” situated on “Close to SGRR School, Sahastradhara Street, Dehradun, Uttarakhand” to introduce the Greatness Famous Honors, where striking characters from different conditions of the nation were granted for their exceptional and estimable accomplishments. These honors were introduced by eminent film entertainer Bhagyashree. In this coordinated program, Bhagyashree tended to specialists and characters from various states,…
The Sensex was up 827.54 points or 1.37% at 61441.24, and the Nifty was up 241.00 points or 1.34% at 18269.20. About 1686 shares have advanced, 364 shares declined, and 68 shares are unchanged. Offer price of Rs 170 a share too low for present times, says Fortis chairmanEven as IHH Healthcare Bhd is in talks discussions with the market regulator to proceed with its open offer for Fortis Healthcare and raise its stake over 51 per cent, the offer price could emerge as a sticking point, Kelvin Loh, CEO, IHH Healthcare, and Ravi Rajagopal, chairman, Fortis, said in an interview. From the four-year-old price of Rs 170 a share for the open offer, Fortis shares are currently trading at around Rs 280.
Indian rupee opened at 7-week high at 80.68 per dollar. It gained 113 paise versus Thursday’s close of 81.81. Mohit Nigam, Fund manager & Head – PMS, Hem Securities Benchmark Indices are expected to open on a positive note as suggested by trends on SGX Nifty. US stock markets ended on a positive side on Thursday as investors reacted to the inflation data which comes below expectations that indicate the Federal Reserve might become less aggressive with interest rate hikes. Dow Jones was up by 3.7%, whereas Nasdaq was up by 7.3% to 11114 levels. Asian markets are trading on a positive note as investors reacted to the inflation data and hoping inflation has peaked. Nikkei is trading 2% higher whereas the Topix index is up by 1.85%. Investment by foreign portfolio investors (FPI) in debt turned net negative in October after remaining positive for two consecutive months which indicates US bond yield seems more attractive to FPI than other emerging markets like India. On the technical front, 18,150 and 18,450 are immediate support and resistance in Nifty50. For Bank Nifty, 41,500 and 42,600 are immediate support and resistance respectively.
Reliance, Adani And 13 others in Race to Take over Bankrupt Future Retail
The Adani group and Reliance Industries are among the 15 entities to have submitted expressions of interest to acquire the assets of bankrupt Future Retail April Moon Retail, a JV between Adani Airport Holdings and promoters of Flemingo group, Reliance Retail Ventures, and Dharampal Satyapal are among the suitors. Capri Global Holdings, Nalwa Steel and Power, Shalimar Corporation, UV Multiple Asset Investment Trust’s Special Situation Fund, and United Biotech had also sent in their EoIs by November 3. Government may soon come up with indirect tax treatment of crypto assets There could soon be clarity on applying goods and services tax on virtual digital assets, as the Central Board of Indirect Taxes and Customs is working on an agenda paper on the topic. The board has been interacting with industry to decide on the GST rate for crypto assets and identify whether they should be classified as goods or a service, besides related issues. The board’s agenda paper will likely be presented to the fitment panel of GST and then to the GST Council.
Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities
Markets are all set to reverse the recent downward trend and start the Friday’s session on a robust note following overnight gains in the US indices after its consumer price inflation eased for a 4th month in a row to 7.7% y-o-y in October. It was the lowest since January and below market expectations of 8%. Further, the 10-year US treasury yield falling more than 18 basis points to 3.946% and the easing US dollar index would further bolster investors’ sentiment.
Asia stocks surge:
Asian shares spiked higher on Friday, while the dollar nursed steep losses after a smaller-than-expected increase in U.S. consumer prices fuelled hopes that the Federal Reserve could tone down its aggressive pace of interest rate hikes. MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 3.72%. Australia’s S&P/ASX 200 index climbed 2.43% and Japan’s Nikkei rose 3%.