Sensex Today | Share Market Updates: Indian equities rallied on Wednesday tracking gains in global stocks, as US inflation edged lower than expected towards the end of the rate hike cycle.
Fresh inflation data from the US boosted investor hopes that the Federal Reserve is done raising interest rates.
FIIs cut short their selling streak on Wednesday after US consumer price index (CPI) inflation eased in October, causing US 1-year bond yields to fall sharply.
16 November 2023, 07:36:04 AM IST
Sensex Today Live: TCS sets November 25 as record date for share buyback
Tata Consultancy Services (TCS), a prominent Indian IT company, established its highest ever date ₹17,000 crore share buyback initiative, as disclosed in its stock exchange filing on Wednesday. The company had earlier on October 11 announced its intention to buy back 4,09,63,855 fully paid equity shares at face value ₹1 each. The buyback is arranged by ₹4,150 per equity share, in total ₹17,000 crore. The record date for this transaction is scheduled for November 25. (Read More)
16 November 2023, 07:27:56 AM IST
Sensex Today Live | Share Market Updates: Bajaj Fin asked to stop lending through 2 products
The Reserve Bank of India (RBI) has banned Bajaj Finance Ltd from lending under its eCOM and Insta EMI Card products.
“This action is necessary because the company did not comply with the extant provisions of the Reserve Bank of India’s digital lending guidelines, particularly the non-issuance of key fact statements to borrowers about these two loan products and the deficiencies in the key fact. statements issued in respect of other digital loans sanctioned by the company,” the RBI said in a press release on Wednesday.
The regulator said it will review the supervisory restrictions after the company corrects deficiencies to the RBI’s satisfaction. (Read More)
16 November 2023, 07:26:02 AM IST
Sensex Today Live: Wall Street gains on Wednesday on softening producer prices, Target forecast upbeat
US stocks closed slightly higher on Wednesday, as fresh inflation data boosted investor hopes that the Federal Reserve is done raising interest rates, and retail stocks were boosted by an upbeat forecast from Target.
Shares in Target rose after the retailer forecast fourth-quarter profit well above expectations on easing supply chain costs.
Target’s bright outlook lifted shares of other retailers including Macy’s and Kohl’s. The S&P 500 consumer staples index, which includes Target, was among the sector’s top gainers during the session.
Stocks rose sharply on Tuesday after a softer-than-expected consumer price index (CPI) reading fueled hopes that the Fed could avoid further rate hikes.
Additional data on Wednesday showed the biggest drop in producer prices in 3-1/2 years in October due to cheaper gasoline, offering more evidence of easing price pressures. (Reuters)
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