Latest Updates Around The World
The Finance Ministry’s announcement on the sharp increase in cigarette duties is “clearly negative” for ITC in the short term, Jefferies warned. This signals a significant hit to volumes and profits, even as the company remains positive on the stock.Jefferies describes this move as “a meaningful negative surprise for the legal cigarette industry,” estimating that […]
Shares of India’s largest cigarette maker ITC suffered the steepest one-day decline in almost six years on Thursday, with shares plunging 10% and wiping out more than Rs 50,000 crore in market capitalization after the Finance Ministry imposed a steep new tax on cigarettes late on Wednesday.The stock tumbled to a fresh 52-week low of […]
Vedanta’s position as one of India’s largest dividend-paying stocks has further weakened, with the metal giant slipping to seventh place based on the closing price as of December 31, 2025, according to a note from SBI Securities. The top position is now occupied by the lesser-known Multibase India, followed by Allcargo Logistics and Premco Global, […]
The Union Cabinet’s decision to approve a relief package for Vodafone Idea (VI), which freezes a substantial portion of adjusted gross revenue (AGR) thus easing cash flow in the short term, falls short of the relief that markets had anticipated, Emkay Global said in a note.The brokerage, which has a sell rating and target price […]
The year 2025 turned out to be a mixed year for India’s largest business houses. While some groups added thousands of crores in market value, others saw a sharp erosion as weak earnings, sectoral headwinds and company-specific shocks weighed on stock prices. Overall, the performance of India’s top 10 conglomerates reflected selective optimism rather than […]
Indian shares ended the first trading session of the year on Thursday with the Sensex closing marginally lower and the Nifty closing modestly higher as gains in IT heavyweights offset losses caused by a decline in the ITC after the government announced a new tax on cigarettes.The BSE Sensex fell 32 points, or 0.04%, to […]
Domestic brokerage firm Nuvama Institutional Equities has downgraded ITC shares from buy to hold, warning that a very sharp hike in cigarette taxes is likely to force price hikes of at least 20% for key brands from February.Nuvama has also sharply downgraded tobacco, arguing that the government’s latest move marks a clear break from the […]
The Indian rupee welcomed 2026 with a marginal decline, weighed down by corporate dollar demand, while thin volumes in the first trading of the new year curbed any major moves, according to traders.The rupee opened lower at 89.9525 per US dollar on Thursday, against Wednesday’s close of 89.87. The currency moved within a narrow range […]
Indian government bonds started 2026 trading in a range on Thursday, with traders largely on the sidelines, wary that a market with few buyers could struggle to absorb the coming debt supply.The benchmark 10-year interest rate closed at 6.5818%. On Wednesday it ended at 6.5881%. Bond yields rise when prices fall.Traders are cautiously bracing for […]
Real estate firm The House of Abhinandan Lodha (HoABL) has sold 1,419 apartments for Rs 640 crore in its housing project in the Mumbai Metropolitan Region (MMR) amid strong demand for low-cost housing.In July last year, HoABL partnered with Mittal Builders to develop a housing project, ‘The Great Western’, at Naigaon in MMR, covering an […]
