India Financial News

Hemang Jani, Independent Market Expert, says “InterGlobe is in a position that HDFC Bank probably was in maybe 8-10 years back where people questioned the valuations but the company kept on delivering and it became one of the best wealth creation stories. Of course, what happened in the last two years is a different story, but given the positioning that InterGlobe has and the way they have managed the volatility in the crude oil price, the way they have managed to grab the international routes and the market share trend, there is a long way to go.”

remarks about CM Banerjee, also known as Didi. "When Didi goes to Goa, she calls herself ‘daughter of Goa’.

Mahanagar Gas, Ahluwalia Contracts (India), Va Tech Wabag, Aditya Birla Sun Life AMC, FDC and Crisil. HDFC Securities believes the valuations of Mahanagar Gas are compelling, given superior return ratios among the city gas distribution players. With easing LNG prices and the pricing power of the company, margins are likely to normalise going forward.

Lok Sabha elections 2024. The video titled ‘INDIA Alliance Mein Fight, Main Hi Dulha Hun Right' wasshared by the saffron party on its X handle on March 26. The 2.23-minute-long video tries to send out a message that leaders in the INDIA bloc consider themselves contenders with no consensus on one common face to lead the fight against Prime Minister Narendra Modi-led BJP in the upcoming elections.

₹6,341.90 apiece after the global brokerage firm UBS in its latest report lifted the target price on the stock to ₹7,550 apiece from an earlier price target of ₹5,380, citing a high double-digit growth across domestic and export orders from motion and low-voltage EP segments with a steady ramp-up in OPMs. It expects order inflow growth of 23% during 2023–26E, with revenue growth of around 21% on a 23% earnings CAGR.

RIL), while Citigroup recommended a neutral rating on Coal India and upgraded MGL to neutral. UBS maintained a buy rating on ABB India. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

CDSL) on Wednesday fell up to 6.4% to the day's low at Rs 1,675 on NSE amid a large block deal in which Standard Chartered Bank is believed to have sold its entire shareholding in the company. Investment banker JPMorgan had last evening issued a term sheet for a block deal in which Standard Chartered Bank offered to sell its entire 7.18% stake at a floor price of Rs 1,672 per share.

(This story originally appeared in on Mar 27, 2024)

The Nifty monthly series PCR is currently at 1.05. Meaningful call writing is witnessed across 22,000-22,100 strikes, while put writing was witnessed in 22,000-21,900 strikes.

Deepak Shenoy, Founder, Capital Mind, says “most of the government contracts will start flowing in only after the budget in July this year. Things may halt for PSUs before that. So, keeping that in mind, we are still very positive on the overall India story, not so much on the export story, not so much on the FMCG story.” What are you betting on now? Where are you seeing that you could find some value? Deepak Shenoy: Honestly, we have had a bit of an interesting year. January was very good for the small and midcaps, and okay for the largecaps. The largecaps have kind of made it up in the last couple of months while small and midcaps have retreated. But in general, we are seeing this quarter itself as more or less a flattish kind of quarter overall. But the results which will start coming in April should show, at least certain sectors start to show a lot more interest in both the commentary and the numbers.

«On a bottom-up basis, we run screeners based on operating cash flows, balance sheet strengths and latent capacity in companies,” says Aniruddha Naha, CIO, Alternatives, PGIM India AMC. In an interview with ETMarkets, Naha who has over 22 years of industry experience in the equity and debt market and manages Rs 225 cr in AUM, said: “The philosophy is to buy good businesses with a consistent track record of cash flow and balance sheet at reasonable valuation,” Edited excerpts: Please take us through your investment philosophy. Aniruddha Naha: Our philosophy stems from clearly defining 'what we will not do' in the investment process.

Steel Authority of India (SAIL) stock is under the F&O trade ban on Wednesday. The MWPL for SAIL stood at 86.2% on Tuesday with OI reported by Trendlyne at 58.3 million. It was down 10.5% from the previous session.

Indian shares surged in early trade on Wednesday, driven by the strong performance of index heavyweight Reliance Industries and financial stocks. The BSE Sensex was trading 326 points or 0.45% higher at 72,653. Nifty50 was trading at 22,070, up 65 points or 0.30% at around 9.30 am.

BJP President JP Nadda issued a notice seeking clarification from the party leader Dilip Ghosh regarding his remarks on West Bengal Chief Minister Mamata Banerjee. The BJP party has written a letter stating that your (Dilip Ghosh) comment today is indecent, unparliamentary and against the tradition of our party. The party strongly condemns such comments. The BJP has also sought an explanation from Dilip Ghosh on this issue. Earlier, the Trinamool Congress filed a complaint with the Election Commission of India against Bharatiya Janata Party leader Dilip Ghosh for allegedly making controversial remarks against West Bengal Chief Minister Mamata Banerjee.

India’s policy focus on making the country a hub for EV-making will have a side effect. As electric vehicles (EVs) roll off assembly lines, our dependence on Chinese imports will rise, even though we’ve been trying to reduce it. That’s because China, with a head-start of a decade or so, is the global leader of clean-tech in general and this segment of the auto industry in particular.

₹50-60,000 crore, a tiny fraction of India’s overall market capitalization. Further, F&O positions are skewed towards options in India. Globally, option volumes are around the same level as futures, but in India, options are 50-100 times futures.

Arvind Kejriwal challenging his arrest by the Enforcement Directorate (ED) in a money-laundering case associated with the alleged excise policy scam. Kejriwal's plea, seeking immediate release due to the purportedly "illegal" nature of his arrest and subsequent remand to the ED, will be addressed before Justice Swarana Kanta Sharma at 10:30 am. The Aam Aadmi Party (AAP) national convener was apprehended on March 21 and subsequently detained in the ED's custody until March 28 by a Delhi court.

₹11.15 crore net in India, Sacnilk.com has reported. Speaking of its day 5 collections, the film saw a 7.14 percent drop and collected just ₹1.50 crore net. The film had an overall occupany of 12.75 percent in Hindi language.

Angel One: On March 26, the company announced the launch of a Qualified Institutional Placement (QIP) issue with a base price of ₹2,555 per share, which is approximately 7% lower than the current market price. Today, Angel One's shares closed at ₹2,750 each on the NSE, marking a 3.36% increase. The company stated in an earlier stock exchange filing that the objective of this fundraising is to enhance financial flexibility, grow the business, and leverage emerging opportunities within the existing and growing broking business as well as the broader fintech space.

Rights issues 2024: Shares of Markobenz Ventures Ltd and Spectrum Foods Ltd will be in focus when the stock market opens on March 27 (Wednesday). The Board of Directors of the 2 companies have declared rights issue of equity shares for their eligible shareholders. The 2 companies have fixed March 27, 2024 as the record date for the purpose of determining the eligibility of equity shareholders to receive the rights entitlement in the rights issue.