AXY Financial News

My monthly salary post-taxes is ₹1.95 lakh. I have SIP (systematic investment plans) of ₹15,000 in Axis Bluechip, ₹15,000 in Canara Robeco Small Cap, ₹15,000 in Parag Parekh Flexi Cap since two years and my investments are currently valued at ₹6.83 lakh. Besides, I have direct stock investments valued at ₹6.6 lakh. This also includes ₹47,000 in sovereign gold bonds.

Shares of IDFC First Bank Ltd.(up 1.19 per cent) and Federal Bank Ltd.(up 0.38 per cent) ended the day as top gainers in the pack. On the other hand, Bank of Baroda(down 2.34 per cent), State Bank of India(down 1.06 per cent), IndusInd Bank Ltd.(down 1.02 per cent), Axis Bank Ltd.(down 1.0 per cent) and Kotak Mahindra Bank Ltd.(down 0.9 per cent) finished as the top losers of the day. The Nifty Bank index closed 0.55 per cent down at 43989.15. Benchmark NSE Nifty50 index ended down 93.65 points at 19253.8, while the BSE Sensex stood down 255.84 points at 64831.41. Among the 50 stocks in the Nifty index, 13 ended in the green, while 37 closed in the red. Shares of IDFC First Bank, Suzlon Energy, Reliance Power, Ashok Leyland and Alok Industries were among the most traded shares on the NSE. Shares of Aeroflex Industries, Manugraph India, HLV Ltd., Hercules Hoists and North Eastern(PP)hit their fresh 52-week highs in today's trade, while TCNS Clothing, Allcargo Terminals, Penta Gold, Vedanta and SS Infrastructure hit their fresh 52-week lows.

Credit card spends hit an all-time high in July owing to a sharp rise in transactions on e-commerce websites. The spends rose nearly 25% year-on-year(y-o-y) to Rs 1.5 trillion in July, latest data showed. Month-on-month (m-o-m), the spends were up 5.5%.

Max Financial Services on Thursday issued a clarification on share sale transactions involving Axis Bank and Max Life Insurance Company Limited (‘Max Life’). The company dismissed reports of violation of norms in the Axis-Max Life deal, as reported by CNBC TV18 on August 31, 2023. «In this regard, we would like to state that following the orders passed by IRDAI wrt transactions involving shares of Max Life between the Company and Axis Bank Limited, SEBI had sought various details/clarifications from the Company,» the company said. It further added, «The requisite details have been submitted by the Company to SEBI for its consideration. The Company has not heard anything from SEBI in this regard.» The company also stated that it had taken appropriate approvals from its shareholders in 2020 (with 99.99% affirmative voting from the shareholders) for cementing the long-term strategic partnership with Axis Bank in respect of its life insurance subsidiary, viz., Max Life which included certain transfer of shares of Max Life.

How it works According to the Axis Bank website, the Infinity Savings Account is a fixed fee-based account in which the customer is required to pay the bank a predetermined amount of money at regular intervals in exchange for the advantages associated with using the account.Charges that are waived No Average Monthly Balance (AMB) requirement, free debit cards, no charges on cheque book usage or transactions/withdrawals above limits and remission of all domestic fees.

Watchvestor is a platform creating a unique haven for investors seeking the rarest and most coveted luxury watches in the world. The goal of the project is to bring together watch enthusiasts, collectors, and investors from around the globe. On this unique marketplace, investors will get the opportunity to buy, sell and invest in rare and collectible watches from renowned brands such as Rolex, Richard Mille, and Patek Philippe.

Chakri Lokapriya, CIO & MD, TCG AMC, says “just like Bhel is going through a new lease of life, so is PFC and REC. I remember participating as an anchor investor in IPOs of these companies and they were priced at one-and-a-half times book then. Today, they trade at less than 0.7 times book, half the valuation. Now, with the growth rates exceeding what it did in the past, it is just a matter of time before the stock even trades closer to its book value and higher, which means there is still a lot more upside from current levels.”We were looking at the streak of order wins from a company like Bhel and that has been pretty phenomenal since the start of the year. Just recently, they bagged a fairly sizable order in their kitty. What would be your outlook given that for the longest period of time, this was one of the slowest moving stocks? What is your view on Bhel? Bhel has got a new lease of life with a renewed interest in power and India has always been a power-deficient country, but now it is a combination of both thermal and green energy.

Sakthi Sugars(up 6.17%), MAGADHSUGAR(up 4.98%), Rana Sugars(up 3.96%), Triveni Engineering & Industries(up 2.32%), Simbhaoli Sugars(up 2.30%), AVADHSUGAR(up 2.20%), KCP Sugar & Industries(up 2.07%), K.M.Sugar Mills(up 1.79%), Rajshree Sugars & Chemicals(up 1.56%) and Dalmia Bharat Sugar & Industries(up 0.71%) were among the top gainers. DCM Shriram Industries(down 1.63%), Shree Renuka Sugars(down 0.95%), Ugar Sugar Works(down 0.55%) and Balrampur Chini Mills(down 0.21%) were among the top losers. The NSE Nifty50 index was trading 31.6 points up at 19379.05, while the 30-share BSE Sensex was up 150.21 points at 65237.46 at around 10:04AM. LTIMindtree Ltd.(up 1.37%), HCL Technologies Ltd.(up 1.33%), Tech Mahindra Ltd.(up 1.31%), Hindalco Industries Ltd.(up 1.18%), Power Grid Corporation of India Ltd.(up 0.89%), Titan Company Ltd.(up 0.86%), Axis Bank Ltd.(up 0.82%), Maruti Suzuki India Ltd.(up 0.82%), Infosys Ltd.(up 0.67%) and Tata Consultancy Services Ltd.(up 0.67%) were among the top gainers in the Nifty pack. On the other hand, Adani Enterprises Ltd.(down 2.89%), Adani Ports & Special Economic Zone Ltd.(down 2.07%), Eicher Motors Ltd.(down 1.04%), Bharat Petroleum Corporation Ltd.(down 0.65%), Asian Paints Ltd.(down 0.62%), Bajaj Finance Ltd.(down 0.45%), Sun Pharmaceutical Industries Ltd.(down 0.43%), Britannia Industries Ltd.(down 0.43%), Bharti Airtel Ltd.(down 0.36%) and HDFC Bank Ltd.(down 0.33%) were trading in the red.

monthly expiry and traders in the derivatives market can adopt a moderately bullish strategy with Nifty futures while taking a neutral view on Bank Nifty futures, an analyst recommended while spelling out his trading strategy for today. «The sell-off post the gap-up opening on Wednesday showcases the resilience of the bears as they swept away the gains and eventually dragged the index to the lower terrain and below 19,400. Technically, on a closing basis, there are hardly any alterations in the price chart, but with the big bearish candle formation, it is likely that the time-wise correction phase remains intact,» Osho Krishan, Senior Analyst, Technical & Derivative Research at Angel One said. Krishnan sees a strong support at 19,300 with the sheet anchor lying around the 19,250-19,200 zone and 19,500 acting as a strong resistance and only a decisive breakthrough will re-strengthen the undertone in his opinion. Analyst Kunal Shah, Senior Technical & Derivative analyst at LKP Securities also sees strong support in the 19,300-19,250 range and said that a failure to sustain above this level could potentially trigger a continuation of the downward movement.

India VIX was up by 2.63% from 12.08 to 12.39 levels in the previous session.

Sanjiv Bhasin, Director, IIFL Securities, says, “I am chasing the likes of LTIM, Reliance, Apollo Hospital and the largest banks, ICICI, Axis. Those are five of my big ideas. If you have Suzlon, stay with it, but do not chase it at these prices where the stock has already tripled.” Bhasin also says, “this is the time to be in IEX and IRCTC, which are two brilliant blue chip businesses. Now, the businesses can underperform for some time, but the longer-term story on IEX in power and IRCTC on railways is the best you can play on the Indian PSUs.I am curious about your take on some of these new-age tech companies. For instance, Zomato has been in the news of late. How are you looking at the efforts on the path to profitability for a lot of these companies? What would be your picks?Zomato, Paytm and PB Fintech are three stocks which are in our portfolio.

SoftBank sold a partial stake in food delivery platform Zomato through bulk deals on Wednesday. The transaction was done at Rs 94.7 apiece, taking the deal value to Rs 947 crore. According to exchange data, SoftBank Vision Fund has offloaded 10 crore shares or 1.17% stake in the company as the lock-in for the post-Blinkit deal ended this week.

However, the Japanese brokerage does not expect bank earnings to deteriorate due to risks emerging from their unsecured portfolio due to the large contingency provision buffers that these banks carry. Nomura analysts Parameswaran Subramanian, Ankit Bihani and Ajit Kumar, assumed 250 to 300 basis points of credit cost in personal loans and about 600 basis points for credit cards.

offer for sale of up to 2,21,10,955 equity shares (Face Value of ₹ 2) by Promoter selling shareholder and other selling shareholder (“Offer for sale")," the company said in a statement. The OFS will constitute up to 10.44 million shares by Siddharth Jain, up to 5 million shares each by Pavan Kumar Jain and Nayantara Jain, up to 1.2 million shares by Ishita Jain and 2.3 lakh shares by Manju Jain.

Best-performing Flexi Cap Mutual Funds in 5 years (till August 25, 2023): While many Flexi Cap funds have given very high returns in the last one and three years, not many have performed well in five years. Data on the website of the Association of Mutual Funds in India (AMFI) shows direct plans of only five flexi cap funds have given over 15% annualised returns in 5 years. The regular plans of these schemes have given over 14% annualised returns in this duration.

Best-performing Small Cap Mutual Funds in 5 years (till August 25, 2023): Direct plans of several small cap funds have given over 20% annualised returns in 5 years. All of these funds have also managed to beat their respective benchmark indices in this duration.

Axis Bank Infinity Savings Account Fees and Details: Axis Bank has launched a first-of-its-kind new savings account – ‘Infinity Savings Account’ – with an aim to cater to digitally savvy customers, who are frequent adopters of subscription-based models.

The Indian Hotels Company, Escorts Kubota, TVS Motor Company, Axis Bank, Jindal Stainless, REC, and Bharat Forge signifies the resilience and potential for growth within these companies. The data was sourced from StockEdge at 1:45 p.m., and the updates from the real-time data could come with a lag. The below data also pertains only to the time at which it was taken.1. The Indian Hotels Company The Indian Hotels Company soared to a new all-time high of Rs 418.6 on August 30.2. Escorts Kubota Escorts Kubota achieved a new all-time high of Rs 3172 on August 30.3. TVS Motor Company TVS Motor Company reached a new all-time high of Rs 1421.1 on August 30.4. Axis Bank Axis Bank attained a new all-time high of Rs 998 on August 30.5. Jindal Stainless Jindal Stainless achieved a new all-time high of Rs 438.25 on August 30.6. REC REC reached a new all-time high of Rs 249.25 on August 30.7. Bharat Forge Bharat Forge soared to a new all-time high of Rs 1080.85 on August 30 (Disclaimer: This is an AI-generated article.

«We have seen indices trading in this 250-300-point range. If we talk about Nifty and if we talk about Bank Nifty, it is about 800 to 1000 point range,» says Sudeep Shah, SBI Securities.As we progress into the expiry, what kind of rollovers are you actually starting to see? Do you see this short covering getting more accelerated or people are still holding on to the short position being rolled on the other side?What is clearly coming out from the rollover data is that the Nifty and Bank Nifty rolls are on expected lines when it is expiry minus two days. But there is some serious rollovers happening in the midcaps and that is where the real game is right now in the last three weeks. We have seen indices trading in this 250-300-point range. If we talk about Nifty and if we talk about Bank Nifty, it is about 800 to 1000 point range.

Moneycontrol, the case has been scheduled for a conclusive hearing on September 8. Punit Goenka, the former CEO of Zee Entertainment Enterprises Ltd (ZEEL), has challenged a Sebi ruling that prohibits him from occupying directorial or significant managerial roles within the company and other entities. The appellate tribunal further said that it is not satisfied with the amount of time taken by Sebi for investigation.

Sanjiv Bhasin, Director, IIFL Securities, says LTIM, Apollo Hospital, Reliance, ICICI and Axis, these five stocks should make up your portfolio for the run-up to 20,000. LTIM is my stock from here till Diwali. Rs 6000 plus is coming on LTIM by this Diwali.”You were quite positive on the midcap IT names, the likes of Coforge, Tech Mahindra was one of those brilliant finds which has done very well for the investors. What next in the IT sector that you are watching out for?LTIM, the best player, is going to be the star as far as the AI circle goes and which is seeing huge amounts of order inflows and high margins. Their attrition has been the lowest and LTIM is one largecap which I can now bet on because it is on the index. So I am focusing on largecaps in the index. LTIM, Reliance, ICICI Bank, Axis, which you mentioned the reasons and if we are going to see Bank Nifty expire above 45,000, then both these largecaps have to join. But LTIM is my stock from here till Diwali. 6000 plus is coming on LTIM by this Diwali.