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Shares of State Bank of India (SBI) hit a record high of Rs 670, gaining 3 percent on the BSE in Wednesday’s intraday trade, amid heavy volumes. In the past two trading days, the stock of the largest state-owned lender has rallied 4 percent on the back of a strong growth outlook over the medium term. The stock price of SBI surpassed its previous high of Rs 660.40 on December 20, 2023. As many as Read More

It is likely that Jio Cinema and Disney+ Hotstar may merge as a single entity, leading to a new and improved OTT experience unlike any other in India. In a major move that can change entertainment and OTT viewing in India, Mukesh Ambani’s Reliance has signed a non-binding agreement with Walt Disney Co, taking the companies one step closer to the mega-merger between RIL and Disney Star. Jio Cinema and Disney+ Hotstar are also included Read More

The stock price of fintech giant Paytm has tumbled 42 percent in the last three days as it remained locked at the lower circuit throughout this period following RBI’s diktat mandating Paytm Payments Bank to halt nearly all banking services from March 1, citing supervisory and non-compliance issues.  The stock is now back at its record low level of Rs 438.35 on BSE, which it last touched on Nov 23, 2022. The three-day selloff has Read More

Shares of Larsen & Toubro (L&T) plunged 7 percent in Wednesday’s intra-day trade to Rs 3,387.40 on the BSE after the company reported lower-than-expected margins for the December quarter (Q3FY24) despite beating revenue estimates. The company’s management also indicated the pace of new orders in the domestic market had slowed and there would be weakness for the two quarters between now and June 2024 owing to the Lok Sabha elections. At 09:52 am, L&T was Read More

Mark Mobius has joined Hong Kong-based Chartwell Capital in a non-executive, independent advisory capacity. Founded in 2007, Chartwell Capital is an independent, Hong Kong-based investment firm that focuses on China’s Greater Bay Area and the Asia-Pacific region.  The company favors family-controlled, small-to-mid-capitalization companies and places an emphasis on collaborative engagement with its portfolio companies. Chartwell Capital serves institutional clients such as endowment and pension funds, charitable foundations, family offices, and high-net-worth individuals. “Hong Kong is Read More