The finance company is likely to move towards “predictable profitability” by the end of this fiscal year as it shrinks its legacy book, which is expected to decrease the volatility in the earnings number, he said. Consistency in earnings is a factor that most investors have preferred over surprises.

According to filings with the Securities and Exchange Commission, Gangwal bought the shares between September 30 and October 1, at prices ranging from $29 to $30 per share. This move aligns Gangwal’s interests closely with those of Southwest’s shareholders, strengthening his role in influencing the airline’s strategic direction, say experts.

Brokerage Morgan Stanley has upgraded shares of JSW Steel and Jindal Steel and Power to ‘overweight’ from ‘equal-weight’, while Tata Steel is now rated ‘equal-weight’ as compared to ‘underweight’ earlier. Nomura India has also initiated coverage on both JSW Steel and Jindal Steel with a ‘buy’ rating.

The weekly index derivatives contracts on Sensex 50 will be discontinued with effect from November 14 end of day while Bankex will be discontinued from November 18.

The local unit weakened 14 paisa for the fourth consecutive day and ended at 83.96 per US dollar, versus its previous close of 83.82/$1, LSEG data showed. Likely central bank intervention kept the local currency from crossing the 84/$1 mark, traders said.

Japan’s MUFG has re-entered the race to acquire a majority stake in Yes Bank after its proposal to invest in HDB Financial was rejected. MUFG has submitted a non-binding offer and is conducting due diligence, negotiating mainly with Yes Bank and SBI.

The NSE Nifty dropped 2.12%, or 546.80 points, to close at 25,250.10. The BSE Sensex fell 2.10%, or 1,769.19 points, to close at 82,497.10. This is the highest fall in a day since August 5. Apart from JSW Steel and ONGC, all other Nifty stocks closed lower on Thursday. Both Continue Reading

The health insurance sector is now the fastest-growing segment in the country’s insurance industry, driven by rising healthcare costs and increasing awareness of the need for coverage.

The ongoing strike at 14 major ports in the US is causing significant delays in unloading and processing shipments from India. This impacts goods like textiles, pharmaceuticals, and auto parts. The strike could lead to higher costs and longer transit times for Indian exporters who are already facing challenges. The Continue Reading

India and the US discussed potential American investments in 20 upcoming Indian industrial cities. Key areas of collaboration include defence, space, semiconductors, telecom, AI, and clean energy. The discussions aimed at strengthening bilateral cooperation and fostering mutual growth. CEO Forum members also highlighted important sectors to promote entrepreneurship, healthcare, and Continue Reading