Analysis Financial News

Even after consistent selling in defence and rail PSU stocks, the long-term prospects of the two sectors remains positive, says Viraj Gandhi, CEO of Samco Mutual Fund. «Given the current values, one should carefully assess these sectors. If one can withstand further short-term downside, this could be an excellent chance to add to these names,» says Viraj Gandhi, CEO of Samco Mutual Fund. Edited excerpts from an interview: Help us understand the rationale behind the launch of a multi-cap fund at this stage. And how does it differ from a flexicap fund? The multi cap category's market share has increased from 2.5% in November 2021 to nearly 6% by August 2024. Over the last 36 months, this category has grown at the quickest rate.

small cap company Pondy Oxides and Chemicals had announced a stock split in the ratio 2:1, for which they had fixed October 16 as the record date, which means today is the last date to buy the shares of the company to be eligible for the benefit of the stock split. “The Board of Directors of the Company in their meeting held today, i.e., 23rd September 2024 at 03.00 P.M. (1ST), have fixed the Record date on Wednesday, 16th October 2024 for the purpose of determining the eligible shareholders of the Company for Sub-division / Split of the existing equity shares of the Company such that 1 ( one) equity share having face value of Rs. 10/- (Rupees Ten only) each fully paid-up be sub-divided into 2 (Two) equity shares having a face value of Rs. 5/- (Rupees Five only) each,” the company had informed via an exchange filing.

Nvidia closed at their highest ever on Monday, putting the heavyweight AI chipmaker on the brink of dethroning Apple as the world's most valuable company. With investors betting on strong demand for its current and next-generation AI processors, the Santa Clara, California company's stock climbed 2.4% to end the day at $138.07.

HCL Technologies are expected to remain in focus on Tuesday after India's third largest IT company by way of market capitalisation reported strong Q2FY25 earnings on Monday and declared an interim dividend of Rs 12 per share. HCL Technologies reported a 10.5% jump in its September quarter consolidated net profit to Rs 4,235 crore, up from Rs 3,832 reported by the company in the year-ago period.

inflation and a U.S. economy and labor market that are stronger than previously thought, Federal Reserve Governor Christopher Waller on Monday called for «more caution» on interest-rate cuts ahead. «Whatever happens in the near term, my baseline still calls for reducing the policy rate gradually over the next year,» Waller said in remarks prepared for delivery to a Shadow Open Market Committee conference at Stanford University's Hoover Institution. The Fed's policy rate is restrictive, the labor market remains healthy even as labor demand is moderating, and inflation is «in the vicinity» of the Fed's 2% target.

Reliance Industries Ltd (RIL) will be in focus after the company reported mostly in-line results for the second quarter ended September 2024. The second-quarter profit dropped 5%, hurt by weakness at its mainstay oil-to-chemicals (O2C) business. The poor show in this segment was offset by strong digital performance.

earnings season is underway and as many as 25 companies will announce their earnings on Tuesday. Some of key earnings to watch out include that of HDFC Life, HDFC AMC, PVR Inox among others. Apart from the above, some of the other companies like KEI Industries, Lactose (India), Premium Capital, Bank of Maharashtra, Rallis India, Stylam Industries, Sita Enterprises, Sybly Industries, Teamo Productions, Transchem will declare results for the September quarter.

Angel One are likely to remain in focus on Tuesday after the company reported its best-ever quarterly performance across key financial metrics in the three month period ended September 30, 2024. The domestic brokerage on Monday reported a consolidated net profit at Rs 423 crore in Q2FY25, which was up 39% from Rs 304 crore reported by the company in the year ago period. The total revenue from operations in the reported quarter stood at Rs 1,515 crore which was up 44.5% over Rs 1,048 crore reported by the company in the corresponding quarter.

Granules India, Hindustan Copper, IDFC First Bank, Indian Energy Exchange (IEX), Manappuram Finance, National Aluminium Company (NALCO), Punjab National Bank (PNB), RBL Bank, Steel Authority of India (SAIL) and Tata Chemicals. The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

Central banks remain keen buyers of gold to diversify their reserves for financial or strategic reasons, representatives of three central banks told the London Bullion Market Association's annual conference in Miami on Monday. Elevated demand for gold from central banks underpinned the price of the non-yielding gold when the global interest rates were high in 2022-2023 and then slowed down with this year's 28% spot gold price rally. China's central bank held back on buying gold for a fifth straight month in September.

Venugopal Garre, MD,Bernstein, says China recovery is positive for India, and not negative for India. From a broader India perspective, India is going potentially through a phase of fatigue in the economy which is going to impact earnings as well. So, we need to watch more for that as a challenge for capping Indian equity returns than anything else. Derivative drivers, be it aspects around IIPs, production levels and things like cement demand, across the board we see some degree of fatigue which is more derivative in nature in terms of demand. Let us understand your view of the world. Exactly a week ago, the concerns for equity markets were abundant – China, US macro data, and the Middle East crisis. At least for the moment, two out of those three concerns have taken a backseat.

Reliance Retail Ventures (RRVL) on Monday reported a 1.3% rise in its September quarter consolidated net profit to Rs 2,836 crore versus Rs 2,800 crore reported in the year-ago period. The revenue from operations stood at Rs 66,502 crore, lower by 3.5% over Rs 68,937 crore posted by the company in the corresponding quarter of the previous financial year.

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

Bohra Industries Ltd.(up 4.95%), Madhya Bharat Agro Products Ltd.(up 3.55%), Sikko Industries Ltd.(up 1.15%), Chambal Fertilisers & Chemicals Ltd.(up 0.88%), Gujarat State Fertilizer & Chemicals Ltd.(up 0.76%), Mangalore Chemicals & Fertilizers Ltd.(up 0.65%), Krishana Phoschem Ltd.(up 0.52%), Zuari Agro Chemicals Ltd.(up 0.37%) and The Fertilisers and Chemicals Travancore Ltd.(up 0.14%) stood among the top gainers.

<a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. traded 0.3 per cent higher in Monday's session at 12:31PM (IST). The stock opened at Rs 6149.95 and has touched an intraday high and low of Rs 6182.0 and Rs 6122.2, respectively, during the session so far. The stock quoted a 52-week high of Rs 6182.0 and a 52-week low of 3300.0. About 4,911 shares changed hands on the counter so far.

During the Amazon Great Indian Festival Sale 2024, you can enjoy an additional 10% instant discount on purchases made with HDFC, Induslnd, Bobcard, HSBC debit or credit card. This fantastic offer allows you to save even more on your favorite products across various categories, from electronics and home appliances to fashion and kitchen essentials. Don't miss this chance to maximize your savings while shopping during the sale — just use your SBI card at checkout for an instant discount! 10% Instant Bank Discount.

Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

Reliance Jio Infocomm on Monday reported a 23.4% jump in its September quarter consolidated net profit at Rs 6,539 crore versus Rs 5,299 crore reported by the company in the year ago period. The revenue from operations stood at Rs 31,709 crore, higher by 18% over Rs 26,875 posted by the company in the corresponding quarter of the previous financial year. The company reported strong 7.4% YoY increase in average revenue per user (ARPU) to Rs 195.1.

Sensex advanced 629.34 points to 82010.7. As many as 23,470 shares changed hands on the counter with a total value of Rs 2.08 crore.

Ambuja Cements Ltd. traded 0.38 per cent up in Monday's trade at 12:41PM (IST). Around 46,111 shares changed hands on the counter. The counter opened at Rs 589.95 and touched an intraday high and low of Rs 590.4 and Rs 583.75, respectively, in the session so far. The stock of Ambuja Cements Ltd. quoted a 52-week high of Rs 706.85 and a 52-week low of Rs 404.0.

6G services by Bharat 6G Alliance proposing that the 6GHz band be used by telcos has drawn protests from technology companies and broadband service providers. The report, yet to be released in public, has identified the 6GHz band because of its large contiguous bandwidth. «It supports enhanced coverage and capacity of urban and suburban environments, and its ability to balance mobility and data requirements make it a promising 6G candidate,» the report said. ET has seen a copy of the report. «The 6 GHz to 8.4 GHz spectrum is foreseen as „Golden Band“ of opportunity for 6G success in India. The entire frequency range should be studied for use by mobile operators,» the report notes.