Monday, October 26, 2020
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Business Live: Stocks surge; Raghuram Rajan bats for immediate stimulus

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The Nifty and the Sensex have opened the day with  sturdy features including to the features already made this week.

Former RBI Governor Raghuram Rajan has urged rising market nations to supply immediate stimulus to guard their long-term development possibilities.

Join us as we comply with the highest enterprise information via the day.

11:30 AM

Online movies, vendor web sites taking part in vital function in auto buy journey: Google

Interesting observations on shopper habits within the car market.

PTI stories: “A large number of people are turning to digital channels like search engines, online videos and dealer websites for research before making their decisions about buying new and used cars and two-wheelers, a report by Google and Kantar said on Wednesday.

The report titled ‘Auto Gear Shift India 2020’ explored the digital influence on Indian automobile buyers and the opportunities for the industries.

“With the consumer placing a much higher importance on online and digital channels – search engines, online videos and dealers’ websites have become the three most important touch points for the buyers – leaving behind traditional media platforms,” it said.

The report found that online video plays a significant role in the purchase journey of an automobile shopper, allowing buyers to experience cars and two-wheelers from different and unique angles such as vehicle features, design (walk-around interior, features and technology), in-action (vehicle safety tests, VR content, performance videos), reviews and ads (testimonials, third party reviews or comparison tests.

As digital becomes the primary touch point for prospective buyers, automobile brands and dealerships have heightened their online presence to be a part of the consumer’s car-purchasing journey, it added.

“The auto industry is undergoing a digital transformation and many leading brands have already digitised their consumer touch points. With the consumer preferences shifting to digital across categories, we will see more brands find new ways to engage consumers on digital platforms,” Nikhil Bansal, Head of Industry – Auto at Google India, said.

He added that the duration between research and final decision making has become short with easy access to information online.

“This makes it even more important for auto brands to create richer experiences and content that allows buyers to not just get information but also get an immersive brand experience to engage and influence their decision,” he said.

The report is based on a survey of 2,000 respondents covering 17 cities from tier I, II and III cities.”

11:00 AM

S&P 500 efficiency with out large tech shares

 

10:40 AM

Uday Shankar to step down as President of Walt Disney APAC, chairman Star & Disney India

Change of guard at Disney India.

PTI stories: “Global media and entertainment conglomerate The Walt Disney Company on Thursday said Uday Shankar will step down as President of its Asia Pacific (APAC) business and Chairman of Star and Disney India with effect from December 31, 2020.

Shankar has quit to pursue entrepreneurial interests outside the company.

“Shankar will step down as President, The Walt Disney Company APAC, and Chairman, Star and Disney India, effective as of December 31, 2020,” Rebecca Campbell, Chairman of Disney’s Direct-to-Consumer and International segment said in a statement.

The company said that over the next three months, Shankar will work closely with Campbell to identify his successor to ensure a smooth transition.

Since February 2019, Shankar has served as President, The Walt Disney Company APAC, and chairman, Star and Disney India.

Disney’s Direct-to-Consumer and International segment includes the company’s direct-to-consumer streaming businesses including Disney+, Hulu, ESPN+ and Disney+ Hotstar, as well as Disney’s international media operations stretching from Europe to Asia to Latin America.”

10:20 AM

‘Need short-term relief to retain long-term growth hopes’

Emerging markets should take pressing aid measures to deal with misery amongst households and small companies as a result of pandemic and lockdowns, as a substitute of holding off for a stimulus bundle after the virus is reined in, former Reserve Bank of India governor Raghuram Rajan stated on Tuesday.

Speaking at ICRIER’s annual G20 convention, Dr. Rajan stated international locations resembling Mexico, Peru and India have been very badly affected by the pandemic, each by way of an infection charges and the adversarial results on households and companies.

“Many governments have been cautious, and some would argue overly cautious, because they have lower resources for relief, and they fear rating downgrades. For a number of countries, the right thing to do, which is perhaps what the IMF is now saying, is to spend to diminish the damage than to wait to spend hoping that it will increase demand,” Dr. Rajan stated, stressing that aid was distinct from stimulus measures that solely purpose to extend demand.

10:00 AM

Sensex soars over 400 factors in early commerce; IT shares shine

Yet one other nice begin to the day for shares.

PTI stories: “Equity benchmark Sensex rallied over 400 points in opening trade on Thursday led by strong buying sentiment in IT and banking stocks amid positive cues from global markets and sustained foreign fund inflow.

The 30-share index was trading 452.15 points or 1.13 per cent higher at 40,331.10, and the NSE Nifty soared 117.50 points or 1 per cent to 11,856.35.

Tata Consultancy Services (TCS) was the top gainer in the Sensex pack, surging over 4 per cent, after the IT major announced a mega-Rs 16,000 crore buyback plan at Rs 3,000 per equity share.

The firm, meanwhile, reported a 6.87 per cent dip in the September quarter net at Rs 7,504 crore but said the demand has recovered faster than projected and will be sustainable going forward as well.

In the Sensex pack, the other stocks that were trading on a positive note include HCL Tech, Infosys, Tech Mahindra, Tata Steel, Bajaj Finserv, IndusInd Bank, Axis Bank and SBI.

On the other hand, ONGC, Asian Paints, Titan, ITC and PowerGrid were among the laggards.

In the previous session, Sensex ended 304.38 points or 0.77 per cent higher at 39,878.95, while Nifty jumped 76.45 points or 0.66 per cent to close at 11,738.85.

Exchange data showed that foreign institutional investors bought equities worth Rs 1,093.81 crore on a net basis on Wednesday.

According to Arjun Mahajan, Head – Institutional Business – at Reliance Securities, while there is still some amount of ambiguity about fiscal stimulus, US President Donald Trump’s remark to sign separate fiscal stimulus created positive sentiments which led US markets to move higher.

Indian market is expected to move in tandem with global markets, he said, adding that better prospects of 2Q earnings and continued hope about domestic fiscal stimulus will provide support to domestic benchmarks.

IT stocks are likely to be in focus after solid 2Q numbers reported by TCS along with announcement of the buyback offer, he added.

Meanwhile, on the global front, bourses in Tokyo and Seoul were trading on a positive note in mid-session deals, while Hong Kong was in the red. Stock exchanges in Shanghai were closed for holidays.

Wall Street indices ended with significant gains in the overnight session.

International oil benchmark Brent crude was trading 0.17 per cent higher at USD 42.06 per barrel.”

9:30 AM

HDFC Bank gives mortgage for care at Apollo

HDFC Bank has tied up with Apollo Hospitals Ltd. to supply its clients unsecured, pre-approved mortgage of as much as ₹40 lakh for medical bills incurred on the healthcare chain.

‘The Healthy Life Programme’ might be provided solely to HDFC Bank clients at Apollo 24/7.

As per the plan, the financial institution’s clients could have round the clock entry to an emergency physician on the hospital for gratis together with advantages resembling a selection of fee choices and ease of finance for remedy in any respect Apollo Hospitals.

The initiative was launched digitally by HDFC Bank MD Aditya Puri, and Apollo Hospitals Group chairman, Prathap C. Reddy within the presence of Apollo Hospitals group govt vice-chairperson Shobana Kamineni, and HDFC Bank MD-designate Sashidhar Jagdishan.

 



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