Yield On 10-Year Bond Open Higher
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The yield on the 10-year bond opened 2 basis points higher at 6.53%
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It closed at 6.51% on Tuesday.
Source: Bloomberg
Rupee Opens Weaker Against US Dollar
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Rupee opened 20 paise weaker at 87.16 a dollar
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It closed at 86.96 a dollar on Tuesday.
Source: Bloomberg
Nazara Tech’s PokerBaazi Bet At Risk Post Online Gaming Ban, Says Prabhudas Lilladher
Brokerage Prabhudas Lilladher has flagged risks to Nazara Technologies’ investment in PokerBaazi after the government cleared the Online Gaming Bill proposing a ban on all real-money games. The draft legislation also seeks to prohibit advertisements and bar banks from processing payments linked to such platforms.
Nazara Tech holds about 48% in PokerBaazi, where it has already invested Rs 8,300 crore, with plans to pump in another Rs 1,500 crore through compulsorily convertible preference shares. According to Prabhudas Lilladher, if the ban comes into effect, the company may be forced to write off its stake.
M&M, Ashok Leyland, Maruti Suzuki Poised For Most Gains On Sector Boost Over GST Cuts: Nomura
Nomura is seeing the biggest upside potential for Mahindra & Mahindra Ltd., Maruti Suzuki India Ltd., and Ashok Leyland while estimating new positives for the auto sector over the upcoming GST reductions and its varying effect.
Within supplier segment, the brokerage sees potential for good growth from Uno Minda Corp Ltd., Motherson Sumi Wiring India, and Sansera Engineering Ltd. Nomura expects that the GST reduction will trigger a multiplier effect of 1.0–1.5 on demand which will result in 10–15% rise in demand.
HAL Dividend — Last Day To Buy Shares To Qualify Ahead Of Record Date
Hindustan Aeronautics Ltd. will be of interest on Wednesday, as it marks the last session for investors to buy shares to qualify for receiving the dividend before the stock goes ex/record-date.
The HAL board approved a final dividend of Rs 15 per share for the financial year 2024-25. The final dividend will be paid to the eligible shareholders within 30 days from the date of its approval in the annual general meeting.
Stock Market LIVE Update: UBS On HAL
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Maintain Neutral with a target price of Rs 4,900
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Govt clears Rs 62,000 crore order for 97 Tejas MK1A
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This is second MK1A order for Hindustan Aeronautics; 180 MK1A in order book for HAL
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Delivery for MK1A is yet to commence
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With F404 engine issue now behind expect delivery to commence with 6 MK1A to be delivered in FY26E
Asia Markets LIVE Update: Nikkei 225 Falls Over 1% After Exports Decline
Japan’s benchmark indices Nikkei 225 and TOPIX declined sharply in Wednesday’s session after the country’s exports contracted in July.
Rest of the Asia-Pacific markets tracked overnight losses on Wall Street due to a fall in technology shares.
The Nikkei 225 and TOPIX were trading 1.60% and 0.63% down, respectively as of 7:50 a.m.
US Market Update: Dow Jones Industrial And S&P 500 Futures Fall
US futures continued to decline in Asia-Pacific session after technology stocks weighed on US benchmark in the previous session. Jackson Hole meeting and US Federal Reserve policy is in focus.
The Dow Jones Industrial Average and S&P 500 indices were trading 0.11% and 0.19% down, respectively as of 7:33 a.m.
LIVE: GIFT Nifty Indicates Negative Opening; HDFC Bank, Bajaj Auto, Vedanta
The GIFT Nifty was trading 0.15% or 37 points lower at 24,973.50 as of 6:55 a.m., which implied a negative opening for the benchmark NSE Nifty 50 index.
Traders will monitor shares of Aditya Infotech Ltd., HDFC Bank Ltd., Bajaj Auto Ltd., and Vedanta Ltd. following their first-quarter earnings and overnight news flow.
The benchmark equity indices closed in the green for the fourth straight session on Tuesday as shares of Reliance Industries Ltd led the gains.
The NSE Nifty 50 ended 103.7 points or 0.42% higher at 24,980.65 and the BSE Sensex closed 370.64 points or 0.46% up at 81,644.39.
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