Wed, Feb 7, 2024 9:05 AM
Britannia shares in focus after Q3 net profit crumbles 40%
A Flip by Avya Verma
The Nifty index exhibited sustained bearish momentum last week (ended November 14), shedding 2.55 percent, breaching its critical support at 23,800, and closed below its prior week's low at 23,533. This breakdown signals a weakening price structure. On the daily chart, Nifty is hovering near its critical level of the 200 DEMA at 23,540, which has historically served as a pivotal reversal point.
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Rajesh Power Services will open its Rs 160-crore initial share sale for subscription on November 25. This would be the sixth IPO from the SME segment launching in current month despite subdued equity markets mood. The price band for the public issue has been fixed at Rs 320-335 per share. The institutional investors can participate in the anchor book of the offer for a day on November 22.
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S&P Global Ratings put a positive outlook on Ireland’s credit rating, underscoring just how robust the country’s finances are ahead of next month’s general election. The ratings firm expects Ireland to use proceeds from corporate tax receipts to rebuild fiscal buffers. S&P currently scores the country eight levels above junk, having lifted the rating one notch to AA in May last year.
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