Gold rate today: yellow metal rises above 48,000 rupees per 10 gram level
Gold prices in India traded higher on the Commodity Exchange (MCX) on Wednesday following positive momentum in international spot prices on a weak US dollar. At 10:40 am, gold futures for April delivery were up 0.25 percent to Rs 48,070 per 10 grams compared to the previous close of Rs 47,948 and the opening price of Rs 48,000 on the MCX. Silver futures were trading 0.25 percent higher at Rs 69,871 per kg. Prices opened at Rs 69,940 compared to the previous close of Rs 69,696 per kg. International gold rose on Wednesday, hovering around a one-week high in the previous session, as a weaker dollar and rising hopes for a US stimulus raised the appeal of bullion as a hedge against inflation.
Positive at Tata Steel, buy Berger paints in bathrooms, says Deven Choksey
KRChoksey Securities’ Deven Choksey remains positive on Tata Steel, as he believes the company’s performance in subsequent quarters will be much better. “The cyclical nature of the business is working well for this company, you should see better performance in the coming quarters, so stay strong in this company,” he said in an interview with CNBC-TV18. He thinks Berger Paints is an expensive stock. “We will have to wait for the markets to make corrections. If it does, buying into the correction would be a better opportunity, ”he said. For more information, watch the video.
Titan Q3 earnings – here’s what to expect
It is expected to be a bright quarter for Titan this time around and that is due to the festive demand, the wedding season and also the pent-up demand that the company saw and that is something the company gave in its Q3 update as well. Jewelery sales grew by an odd 15 percent and excluded rough gold sales of around Rs 350 crore. Management said the tack mix in the third quarter improved on a quarterly basis (quarterly) and is still below the prior year (yoy). The watches and wearable devices division saw an 88 percent recovery, eyewear saw a 92 percent recovery and CaratLane generated 39 percent growth for the quarter. Watch this video for more
Tata Steel Shares Gain Over 3% As Third Quarter Earnings Beat Estimates
Tata Steel’s share price gained more than 3 percent in Wednesday morning trading after the company reported strong earnings for the quarter ending December 2020, beating estimates. Tata Steel reported a consolidated net profit of Rs 3,989 crore in the third quarter of Fiscal Year 21 compared to a net loss of Rs 1,166 crore in the prior year period. Operating income increased 11.5 percent to Rs 39,594 crore from Rs 34,520 crore. The company’s performance on all fronts exceeds the estimates of the CNBC-TV18 analyst survey.
Bitcoin Price Rises Above $ 48,000 After Tesla Investment
Bitcoin rose to an all-time high, surpassing the $ 48,000 mark after Tesla invested $ 1.5 billion, becoming the largest company to back the controversial cryptocurrency. Bitcoin jumped to its record high of $ 48,226.25, spreading the gains after Tesla made the disclosure in a regulatory filing. The electric car maker revealed that it will accept payments for its cars and other products with Bitcoins in the near future. Tesla said in a presentation that the decision was part of its broad investment policy as a company and was aimed at diversifying and maximizing its cash earnings.
Market Update: Sensex Turns Negative, Nifty Below 15,100; banking, IT sectors drag
Indian indices trimmed gains to turn negative on Wednesday as losses in the IT, banking and fin services sectors weighed on sentiment. The TI index fell more than half a percent led by Infosys and Tech Mahindra, while Nifty Bank fell 0.4 percent.
Opening Bell: Sensex Opens 100 Points Higher, Nifty Approaching 15,100; all sectors in the green
Indian indices opened higher on Wednesday led by gains in heavyweights ICICI Bank, TCS, RIL, Asian Paints and Kotak Bank. At 9:18 a.m., the Sensex rose 154 points to 51,483 while the Nifty rose 35 points to 15,144. All industry indices also traded positively, boosting earnings. The metals index led the gains, increasing more than 1 percent, while Nifty Bank, Nifty Auto, Nifty Fin Servcies and Nifty Pharma added about 0.3 percent each. The broader markets were also in the green with the mid-cap index rising 0.3 percent and the small-cap index 0.8 percent.
Titan Q3 earnings – here’s what to expect
It is expected to be a bright quarter for Titan this time around and that is due to the festive demand, the wedding season and also the pent-up demand that the company saw and that is something the company gave in their Q3 update as well. Jewelery sales grew by around an odd 15 percent and excluded the rough gold sale of around Rs 350 crore. Management said the tack mix in the third quarter improved on a quarterly basis (quarterly) and is still below the prior year (yoy). The watches and wearable devices division saw an 88 percent recovery, eyewear saw a 92 percent recovery and CaratLane generated 39 percent growth for the quarter. Watch this video for more
Bitcoin value could touch $ 1,00,000 mark by year-end, says Galaxy Digital founder
The value of Bitcoin could more than double by the end of this year to $ 1,00,000, the founder of cryptocurrency investment firm Galaxy Digital, Michael Novogratz, told BloombergQuint. According to Novogratz, this growth is due to the fact that more companies are set up to allow the use of Bitcoin for purchases, according to the report. In an interview with BQ, following Tesla’s decision to allow future customers to buy their electric cars with bitcoin, the longtime cryptocurrency enthusiast and investor said that it is these decisions that will have a major impact on the market. market. .
“You will see that all companies in America do the same … One of the things that connect Bitcoin, Tesla, solar stocks and ESG investing is millennials and Gen Z, young people are buying into the future and they see cryptocurrencies – Bitcoin and other cryptocurrencies, like its currencies, ”he said in the report. More here
Sebi presents a disclosure form under the rules of use of inside information
Capital markets regulator Sebi on Tuesday introduced a new format for disclosures to be made under insider trading rules. In light of the amendments to the PIT Regulations affecting the inclusion of promoter group members and the designee in place of the employee and based on feedback received from market participants and exchanges, the relevant disclosure formats will be have been properly reviewed, Sebi said in a circular.
Under the new format, the details of the securities held by becoming a member of the promoter group of a publicly traded company and the immediate relatives of such persons must be disclosed, in addition, any changes in the holding must also be disclosed. In September, the Securities and Exchange Board of India (Sebi) had decided to implement system-driven disclosures for the promoter group members, directors and appointees of a publicly traded company. More here
Equity mutual funds see an exit for the seventh consecutive month in January in the earnings reserve
Equity mutual funds witnessed an outflow of Rs 9,253 crore in January, making it the seventh consecutive monthly withdrawal, mainly due to earnings reserve and portfolio rebalancing amid the markets they touch. new highs. However, the pace of equity outflows has slowed for a third month and Gautam Kalia, Head Investment Solutions, BNP Paribas’ Sharekhan said it will likely turn positive soon as investors get used to the new normal.
Furthermore, investors took out Rs 33,409 crore from debt mutual funds last month after investing Rs 13,863 crore in December, data from the Mutual Fund Association in India showed on Tuesday. Overall, the mutual fund industry witnessed a net outflow of Rs 35,586 crore across all segments during the period under review, compared to the inflow of Rs 2,968 crore seen in December in investments from hybrid and other schemes. More here
First, here is a quick update on what happened in the markets on Tuesday
Indian indices ended in the red on Tuesday, breaking six consecutive sessions of profit dragged down by losses in key major sectors including IT, automotive, pharmaceuticals and metals. The Sensex finished 20 points lower at 51,329 while the Nifty lost 6 points to 15,109. Both benchmarks hit their respective all-time highs for the seventh consecutive session in intraday trading. The Sensex jumped up to 487 points to its new high of 51,835.86 while the Nifty jumped 140 points to its all-time high of 15,255.80. In the Nifty50 index, Asian Paints, SBI Life, HDFC Life, IOC and Wipro were the main winners, while M&M, Tata Motors, JSW Steel, Bajaj Auto and ITC led the losses.
Welcome to the CNBC-TV18 Market Live blog
Good morning readers! This is Pranati Deva from the market desk of CNBC-TV18. Welcome to our market blog, where we provide live news coverage of the latest events in the stock market, business and the economy. We’ll also get instant reactions and guests from our stellar lineup of TV guests and editors, researchers, and internal reporters. If you are an investor, we wish you a great trading day. Good luck!
