Action Financial News

“Transition finance” is shaping up to be one of the new year’s most important subjects for anyone professing to care about the climate crisis.

Rahul Sharma, Director & Head — Technical & Derivatives Research, JM Financial Services, says “there are two sectors which clearly are looking very good and are on our buying list. The first one is chemicals. We feel there is more upside to it given the last two years of underperformance. The second sector which looks good is the IT space. IT has taken a beating over the last few sessions, but we feel another 2-3% down on the IT index and it would again come into the buying zone. These are the two sectors where we are looking to cherry pick and buy stocks on the long side. There is a bit of pharma also coming into play where we are seeing selective buying. So, defensives are the ones to go for.” It is a day of the weekly options expiry for at least the Nifty now and it seems like it is likely to be a bit more on the positive side because the last two-three days was all about profit booking and consolidation. Rahul Sharma: We have seen a dip at the beginning of the year and now I think Nifty is ready to propel towards the 22,000 mark.

Dia Mirza has called upon the Maharashtra Pollution Control Board to address the pressing issue immediately. Renowned for her vocal stance on climate change and environmental concerns, Mirza took to social media to express her distress and advocate for decisive measures. Her plea was conveyed through a post on social media platform X (formerly Twitter), where she drew attention to the alarming Air Quality Index (AQI) exceeding 200.

Decentralized exchange dYdX has  released  a post-mortem report detailing the “targeted attack” it experienced on its v3 platform in November. 

AAP leaders on Thursday said the alleged Delhi liquor scam was bogus and asserted that Delhi Chief Minister Arvind Kejriwal will cooperate with the ED if it sends «legal» summons to him. Kejriwal, the national convenor of the Aam Aadmi Party (AAP), refused to appear before the Enforcement Directorate in connection with the Delhi excise policy case on Wednesday, calling the summons «illegal» and «politically motivated». AAP leader Jasmine Shah said the investigation into the alleged liquor scam has been going on for the last two years but so far, no recovery has been made as evidence by the ED.

Prince Harry. “Kate Middleton has everything she wants," the Rebel Prince told Closer Magazine as quoted by The New York Post. Bower also said Markle had hoped to do things “her way" after her wedding to Prince Harry and joining the royal family in 2018.

Torrent Power shot up over 13% to hit their 52-week high of Rs 1,059 on the NSE in Thursday's early trade after the company informed exchanges about signing a Memorandum of Understanding (MoU) of Rs 47,350 crore with the Gujarat government for setting up solar and hybrid power projects. This comes as part of the investment promotion activity for Vibrant Gujarat Global Summit 2024, the company filing on Wednesday, said. Under the MoU, the company will be setting up 3,450 MW of solar power projects along with 1,045 MW of Hybrid Power Projects and associated infrastructure for a 7,000 MW solar project, green hydrogen / green ammonia production facility, and capex for the distribution network. The price action was supported by strong volume action as 30.32 lakh shares traded on the NSE around 10 am. Meanwhile, the stock also saw a spurt in volumes by 2.41 times on the BSE. The stock is currently trading above its 50-day and 200-day simple moving averages (SMAs).

Aptech Ltd, part of the education industry, has fallen more than 30% from May 2023 highs and has taken multiple support above 240 levels and bounced back which suggests that the stock has bottomed out. Short-term traders can look to buy the stock for a possible bounce back towards 300 levels in the medium term, suggest experts. The stock which is also part of the S&P BSE Small-cap index hit a record high of Rs 422 on 30th May 2023, but it failed to hold on to the momentum. The small-cap stock underwent a price-wise correction which took the stock below 50 and 200-DMA in October 2023. The stock found support above 240 levels multiple times in November before bouncing back in December 2023.

Mint takes a look into why that might be so, and why RBI needed to update the rules. The proposed framework seeks to tie payout ratios to net non-performing asset ratios, in place of the existing grid-based framework that links capital adequacy levels and net NPA ratio. RBI has tightened the NPA criteria for banks to be eligible to pay dividends.

«Overall we expect the market to consolidate and take a pause before the quarterly results starts, leading to more stock-specific action,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS

Prince of Persia series, “Prince of Persia: The Lost Crown” has got its inspiration from its old-school roots. With the date of the release of The Prince of Persia: The Lost Crown, inching closer, many fans are thrilled to start going from one platform to another, avoiding the legendary hazards waiting in this new action-adventure platformer. The game is available on Nintendo Switch, Xbox Series X/S, and PS4/5, but one might be curious to know if they will be swayed into action on the Steam Deck. A bunch of available games turns Steam Deck to be one of the best handhelds that exists, and there is nothing that can beat the ability to include another good-performing game in the ever-increasing library.

Analysts at Jefferies upgraded London-listed shares of GSK (GSK) to Buy and downgraded AstraZeneca (NASDAQ:AZN) to Hold in a note covering European Pharmaceutical stocks on Wednesday. The GSK price target was lifted to 1,900p from 1,550p per share, while the AZN price target was cut to 11,000p from 12,500p.

The NSE Nifty 50 index fell 0.69% to 21,517, while the S&P BSE Sensex shed 0.75% to 71,356. Here's how analysts read the market pulse: «Nifty formed a bearish candle with a substantial body in the daily chart. The Donchian Channels, which identify bullish and bearish extremes, indicate that Nifty is holding its middle band. Key support levels are identified at 21,400, while resistance is placed at 21,700 levels,» said Om Mehra, Technical Analyst, SAMCO Securities. Rupak De, Senior Technical Analyst at LKP Securities, said, «Nifty dipped below the support level of 21,650, resulting in a decline towards 21,500. The prevailing sentiment appears weak, highlighted by the index closing below the crucial support at 21,650. If it continues to drop below 21,500 in the upcoming days, it could potentially exacerbate the negative sentiment, especially with expectations of substantial unwinding by the put writers below 21,500. The broader market outlook suggests a sell-on-rise strategy as long as it stays below 21,650.» That said, here’s a look at what some key indicators are suggesting for Thursday's action:

Saluja has not been issued any additional stock options of Religare Finvest, rebutting a call for an investigation by the Burman family into the alleged allotment of 8 per cent stake through Employee Stock Ownership Plans (ESOPs) in violations of rules. In a statement, Religare Enterprises Ltd (REL) said the approval sought at the AGM of RFL (Religare Finvest Ltd) held on September 26, 2023 was to seek enabling approval of shareholders for the proposed grant of ESOPs of RFL to Rashmi Saluja under the RFL ESOP Plan 2019. RFL is a subsidiary of Religare Enterprises.

In December, more than 190 governments at the United Nations climate conference approved an agreement calling for a transition away from fossil fuels to combat global warming. The COP28 conference was widely viewed as a turning point in the fight against global warming. The effort will require a massive amount of technology, but much of it is too expensive and won’t come down in price without public subsidies and investment, said Boston Consulting Group Global Chair Rich Lesser.

Indian Cyber Crime Coordination Centre (I4C) said Wednesday. Over 4.52 lakh cyber crime cases were reported on the National Cybercrime Reporting Portal (NCRP) in 2021, which rose by 113.7% in 2022, with 9.66 lakh cases being reported on the portal, director of I4C Rajesh Kumar told reporters in an interaction. I4C is a body established by the Ministry of Home Affairs to provide a framework and eco-system for law enforcement agencies for dealing with Cybercrime in a coordinated and comprehensive manner.

Kanye West is in the news once again for the wrong reason. After receiving flak from the world Jewish community, and popular brands like Gap and Adidas, Miami's five-star hotel Four Seasons is not happy with him. According to 'Page Six', West seems to have worn out his welcome at his favorite hotel. The report suggests that the rapper has been camping out at the five-star Four Seasons at the Surf Club resort for quite some time. He even has set up a recording studio at the hotel. But the hotel and its people, particularly its security staff, are upset with the star's tendency to have late-night guests.

DGCA carried out 5,745 surveillance activities with respect to airlines, airports and approved organisations in 2023 as part of its efforts to ensure compliance and enhance safety standards in the aviation space, The activities included 4,039 planned surveillance and 1,706 spot checks and night surveillance. Subsequently, the findings resulted in 542 enforcement actions, the Directorate General of Civil Aviation (DGCA) said in a release on Wednesday.

Blockchain firm CertiK recently issued a high-priority warning to users of the OKX Wallet, particularly those using the iOS application. The alert, communicated via social media and other channels in December 2023, stressed the urgency for users to update their applications due to a critical security flaw discovered by the firm.

NEW DELHI : The Indian spirits market, which navigated through a complex year due to tax hikes, state elections, and policy shifts in 2023, is expected to see a flat growth in 2024. While major players are likely to find solace in the premium segment, smaller regional companies are poised to steal the spotlight with faster growth compared with their larger counterparts. The hangover from 2023 challenges could linger amid sharp tax increases in states like Karnataka and the dampening effect of elections across nine states.

ALSO READ: Foreign investors keen on India but transparency key factor: WEF investment head 1) Davos 2024 will be hosted between 15 to 19 January 2024. 2) It will be hosted at the local Swiss Alpine School in the heart of Davos.