EOD Update as on 19-09-2019

Fed did ‘right thing’ in supporting repo market: Jamie Dimon

The Fed, for the first time since the 2007-2009 financial crisis, injected more than $125 billion over the last two days.

PM Modi, Donald Trump to meet twice in US next week: Ambassador Harsh Vardhan Shringla
Since his re-election in May this year, Prime Minister Modi has met President Trump twice. The previous two meetings of the two leaders .

US Fed’s Powell downplays concerns about cash crunch on financial markets
Powell said the need to pay quarterly tax payments was a factor, which prompted the New York Federal Reserve Bank twice this week to inject liquidity into the short-term funding market.

Saudis couldn’t stop oil attack, even with top US defences
In addition to deciding whether that firepower should be turned on Iran in retaliation, the Saudis and their American allies must now figure out how to prevent a repeat of last weekend’s attack – or worse, such as an assault on the Saudis’ export facilities in the Persian Gulf or any of the desalination plants that supply drinking water.

Saudi Arabia says oil attacks ‘unquestionably’ sponsored by Iran
It displayed what it said were fragments of the arsenal of 18 drones and seven cruise missiles that devastated two facilities in the country’s east, knocking out half the kingdom’s oil production.

PM Modi to address rally in Nashik, set agenda for Maharashtra polls
Modi would be on one-day visit to Nashik, in north Maharashtra, where he will address the concluding rally of ‘Mahajanadesh Yatra’.

US Central Bank Cuts Interest Rates, Signals Holding Pattern For Now

Federal Reserve Chairman Jerome Powell said the rate cut was designed “to provide insurance against ongoing risks” including weak global growth and resurgent trade tensions.

Fed says no to negative rates, but hints at QE: 5 key takeaways
Jay Powell and the Federal Reserve Fail Again, Trump said in a tweet.

Correction in auto stocks not enough to turn optimistic: CLSA
The brokerage maintains negative ratings on 70% of Indian auto stocks under coverage.

Board Meetings today: IDBI Bank, BHEL, Dish TV, Finolex Ind and Prestige Estates
It makes sense to have a look at the corporate agendas for the days as announced to the stock exchanges.

Potential of India-US trade to double in five years: Ambassador Harsh Vardhan Shringla
In March, US Trade Representative Robert Lighthizer announced that the US will terminate India’s designation as beneficiary developing country under the Generalised System of Preferences (GSP) programme.

Mother Dairy to recycle 832 tonnes of plastic by March 2020
Mother Dairy, a leading milk supplier in Delhi-NCR, said it will recycle 832 tonnes of plastic by March next year as part of its efforts to protect environment.

Nirav Modi to appear via videolink for UK remand hearing
The 48-year-old, who is fighting extradition to India at Westminster Magistrates’ Court, is expected to be given a confirmed date for his trial, expected in May next year.

Petrol, Diesel Prices Hiked For Third Straight Day. Check Rates Here

Petrol, diesel prices today: Oil marketing companies such as state-run Indian Oil Corporation currently review the fuel prices on a daily basis, and any revisions are implemented at the fuel stations.

Madhav Infra Projects rises on orders win worth Rs 258cr
The company has received letter of award (LOA) for solar power generation project for a contract value of Rs 96.39 crore.

Groww raises $21.4 million in Series B funding
Bengaluru-headquartered Groww said it will use these funds to get top talent on board across engineering, product, and growth teams, and is looking to increase the team size to 200 plus soon.

Why India’s Equity Mutual Fund Fees Rank Among Worlds Most Expensive

The country’s asset-weighted median expense ratio for equity mutual funds is 1.93%, according to a study of by Morningstar Inc.

Mukesh Ambani Bolsters Hold Over Reliance Industries With Stake Hike

Reliance Services and Holdings, Mr Ambani’s firm, acquired 17.18 crore equity shares or 2.71 per cent stake on September 13.

Lupin declines 3% post warning letter from USFDA
We are committed to addressing the concerns raised by the USFDA and will work with the US FDA to resolve these issues at the earliest, company said.

Allahabad Bank to launch loans linked with external benchmark rates; shares fall 3%
Presently, the bank has identified RBI’s repo rate and 3 month MIBOR as the benchmark rates.

NALCO declares record 115% dividend of Rs 1072.73 crore for 2018-19
National Aluminium Company Limited (NALCO0 declared its highest ever dividend on the occasion of the 38th Annual General Meeting (AGM) of the Navaratna PSU and said it has reflected continuation of its bull run.

IWG plans to double its co-working network in India by 2022
The company is considering introducing three global brands – HQ Global Workspaces, Signature by Regus and a CXO club to India next year

Payments, jobs and using tech to improve lives will drive Google’s India growth
Google is launching payment platforms for merchants and users, a jobs match-making for blue-collar workers, and a research lab that will focus on foundational artificial intelligence solutions to solve local problems

Google sets up AI research lab in Bengaluru
Apart from the Google team led by AI scientist Manish Gupta, the company will also partner with the research community across the country to focus on tackling challenges in fields like healthcare, agriculture, and education.

Coffee Day shares fall 5% amid reports of lenders invoking pledged shares

Surya Roshni bags orders worth Rs 80cr; share price down 3%

I-T Dept unearths several cash transactions in searches at Oberoi Realty; Bollywood connection probed

HDFC Bank Shares Rise After Going Ex-Stock Split

After the ex-split HDFC Bank shareholders will now have two shares of face value of Re 1 instead of one share of face value of Rs 2 each.

Fed to pump $75 billion more into money markets on Thursday

RBL Bank-backed microlender Utkarsh SFB plans Rs 500 crore IPO

Vikesh Kumaar Kataria

Experienced Founder of Brokers Bazaar with a demonstrated history of working in Skilled in RMS from various big corporate giants, Analytical Skills, Banking, Entrepreneurship, Digitalisation and Equities with Strong entrepreneurship professionalism. Experienced Co-Founder with a demonstrated history of working in the logistics and supply chain industry.

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