ITC share price retraces from 52-week high. Good time to buy or accumulate?
After climbing to its new 52-week highs on successive Wednesday and Thursday sessions, ITC shares have retraced from its recent highs and quoting below ₹300 apiece levels. Shares of ITC has been in uptrend since last week of February 2022. Read more
Akasa Air flights from next month, ticket bookings start. Know routes and fares
Rakesh Jhunjhunwala-backed Akasa Air said it will launch commercial flight operations on August 7 by operating its first service on the Mumbai-Ahmedabad route using Boeing 737 Max aircraft. Read more
MoS terms use of crypto logical extension of fintech as currency a challenge
Crypto technology as a means of payment is logical extension of fintech companies but challenges lie on its usage as an asset class and an alternative to currency, Minister of State for Electronics and IT Rajeev Chandrasekhar said on Thursday.Read more
Gold prices today fall despite ECB's interest rate hike
Gold prices today fall despite European Central Bank (ECB) raised interest rates by 50 bps on Thursday. Spot gold price today is quoting $1713 per ounce, around 0.25 per cent lower from its Thursday close whereas the yellow metal price on Multi Commodity Exchange (MCX) is quoting ₹50,361 per 10 gm, ₹14 lower from its Thursday close. Read more
Mint Morning Digest
India to import 76 mt coal; will spark power tariff hike
India has firmed up a plan to import around 76 million tonnes (mt) of coal to help plug a fossil fuel shortfall at its power plants in the current financial year. This in turn may result in an increase in electricity tariffs by 50-80 paise per unit depending on the distance of the power stations from sea ports, according to two government officials aware of the development. Read more
Notices served on EV scooter makers over fire incidents: Nitin Gadkari
Union ministry for transport and highways has served notices to CEOs and MDs of two wheeler electric scooter manufacturers whose scooters have caught fire, and further action would be taken after their replies are received, said union minister Nitin Gadkari. Read more
Telcos may bid for spectrum worth ₹1.6 tn
Telecom companies are likely to pick up spectrum worth ₹1.6 trillion, or at least 33% of the airwaves put on sale at the 5G auctions, if they were to bid for the pricier 700 Mhz band, said analysts tracking the sector. Read more
Falling rupee, weak US stocks give Indian investors chance to diversify
Investment by Indians in international equities and debt is gaining pace as the rupee struggles to keep up against the US dollar and weak global stock markets open up avenues for investors looking to diversify portfolios. Read more
Easing of supply chain constraints may soothe Gland Pharma’s pain
Gland Pharma Ltd’s June quarter (Q1FY23) was plagued by various troubles. India revenues fell by 72% year-on-year (y-o-y) as the shutdown of two of its manufacturing lines for productivity improvement hurt business. Read more
