Saturday, October 03
Reliance Infrastructure shares have delivered stellar long-term gains, surging over 1,400% in the past five years. The momentum has continued in recent sessions, with the stock rising 45% in the last one month and gaining 10% in just the past two trading days.The rally picked up pace after the company announced a strategic partnership between its subsidiary, Reliance Aerostructure, and French aerospace major Dassault Aviation to manufacture Falcon 2000 business jets in India. But beyond the news-driven rally, technical indicators suggest there could still be more room to run.Technical indicators point to further upsideKunal V Parar, VP – Technical Research & Algo at Choice Broking, said the stock has shown strong momentum, breaking above a key swing high on the weekly chart—an indi
The shares of Siemens Energy India, the demerged arm of Siemens Ltd, zoomed 5% in Thursday's early trade to hit their upper circuit at Rs 2,992.45 on the BSE after listing at Rs 2,850. With this listing, brokerage firms project up to 30% upside potential in the stock, setting a target price as high as Rs 3,700.Analysts expect the newly carved-out entity to emerge as a leading beneficiary of India’s accelerating power transmission and distribution (T&D) investment cycle.Also Read: Siemens Energy shares list at Rs 2,850 on BSE after demerger; growth prospects bullishHere’s what brokerages say:Jefferies: Buy| Target price: Rs 3,700| Upside potential: 29.8%Siemens Energy on listing should be India’s largest listed pure-play power T&D equipment player at $10 billion+ market cap, f
India's top private lenders are yet to fully migrate to a new cross-border payments messaging system ahead of a November deadline, officials aware of the migration said, raising disruption risks from non-compliance should the rollout stick to the announced schedule.So far, only the State Bank of India (SBI) has fully transitioned to the ISO 20022 SWIFT messaging standard, said two officials aware of the matter. India's compliance falls well below the global adoption rate of 43%, they said."Indian banks are major laggards in adopting ISO 20022; despite multiple deadline extensions, only SBI has transitioned to the new standards," said an official overseeing the migration. "While SWIFT has postponed the deadline a few times, we believe there will be no further extensions."SWIFT-the Society f
Placing public grievance redressal on 'high' priority, the Union Cabinet Secretary is learnt to have asked all ministries and departments to overhaul their grievance redressal mechanism and bring in the new PMO-like oversight by senior officers so that public concerns are not disposed off 'mechanically'.Alongside, grievances pertaining to the Income Tax Department and the Central Board of Indirect Taxes and Customs (CBIC) have this week been brought under the jurisdiction and oversight of the Directorate of Public Grievances (DPG), an entity within the Cabinet Secretariat.This brings a major institutional shift as the two departments impact millions of citizens, tax payers and businesses and are often flooded with complaints on delays, lack of transparency, procedural roadblocks and the li
