Zaggle Prepaid Ocean IPO showed a lackluster listing on the Indian stock exchanges today. The company debuted at INR 164 on the NSE and INR 162 on the BSE, which is flat to a slight discount on the issue price of INR 164 per share. It was no surprise as the grey market premium (GMP) … Read more
New Delhi, Sep 22 (IANS) The Fed’s hawkish pause message has created a global risk-averse sentiment in global equity markets, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.The spike in the to 105.52 and the US 10-year bond yield shooting up to a 16-year high of 4.5 per cent are negative for … Read more
New Delhi, Sep 22 (IANS) India’s JP Morgan Government Bond Index-Emerging Markets (JPM GBI-EM) inclusion to entail $26 billion in passive flows, Emkay Global Financial Services said in a note. India to enjoy lower risk premia, deeper bond market and easier financing of fiscal and Current Account Deficit (CAD). The much-anticipated inclusion of India in … Read more
© Reuters. Credit reporting firm TransUnion (NYSE:) has denied allegations of a data breach this week, following claims from a hacker known as ‘USDoD’ that they had stolen and published 3Gb of information from the company’s systems. The denial came two days after the alleged database, containing personal details of about 58,000 individuals, was published … Read more
A recent report from South Africa’s Standard Bank has highlighted numerous challenges faced by African businesses, particularly in the context of local currency depreciation, foreign currency shortages, and infrastructure deficiencies. The findings were published in the 2023 Standard Bank Trade Barometer report on Thursday. The report provided insights into the business environment in ten African … Read more
The International Monetary Fund (IMF) has reportedly halted Pakistan’s plan to give relief to power consumers using over 200 units monthly, according to ARY News on Wednesday. The IMF warned that circular debt would not decrease if relief was provided on electricity bills. As a result, only consumers using under 200 units for six consecutive … Read more
Midday movers: FedEx, Cisco, Darden Restaurants and more #
© Reuters. The cruise line industry, recently experiencing a drop in stock values, may be ready for investor reassessment, as reported by Truist analysts on Tuesday. The sector’s outlook has been upgraded to positive by the analysts who also revised their ratings for Royal Caribbean (NYSE:) Group and Carnival (NYSE:) Corp. In the first half … Read more
© Reuters. In a recent development, SoftBank (TYO:) Group is set to benefit from a significant financial gain following the initial public offering (IPO) of Arm Holdings (NASDAQ:), a leading chip-design company. Despite a recent dip in investor interest, SoftBank is poised to profit $5.12 billion from the 10% stake it sold in Arm as … Read more
Ahead of the Federal Reserve’s policy decision on Wednesday, strategists from TD Securities have identified two areas of the financial market that are likely to react significantly to any potential extension of the current low-interest-rate environment. The areas in focus are Treasury yields and the U.S. dollar, as reported on Tuesday. Strategists Oscar Munoz, Gennadiy … Read more
