Booking Financial News

Stock at 52 week high: LKP Finance shares are one of the multibagger stocks that Indian stock market has delivered in 2023. In year-to-date (YTD) time, this small-cap stock has risen from around ₹91.50 to ₹220.55 per share levels on BSE, logging around 140 per cent rise in this time. However, it seems that the stock has some steam left in it.

visa-free destinations as their ideal choice of international destination. As per MakeMyTrip, countries that removed visa requirements for travelers from India have seen over 30 percent positive uptick in terms of searches and bookings. Ahead of the Christmas vacation, several Asian countries including Malaysia, Thailand, Vietnam, Sri Lanka have recently announced that they are implementing visa-free entry for visitors from India and other countries.

Akshay Kumar has taken a page from fellow superstar Shah Rukh Khan’s book. Bollywood’s ‘Khiladi’ recently revealed that he was the owner of the ‘Srinagar Team’ for the upcoming Indian Premiere League (IPL). Taking to Instagram, the ‘Toilet: Ek Prem Katha’ star invited cricket enthusiasts to join his team. “From cinema to the stadium! Proud to announce that I will be coming to @ispl_t10 as a Team Owner of Srinagar (Jammu & Kashmir) A chance to play in my team awaits.

Sandip Sabharwal, asksandipsabharwal.com, says “sudden, swift corrections lasting a couple of weeks can come up any time. Markets can never go up in a straight line. So the investment strategy has to be, at this point of time, if you are holding some good stocks, you can keep on holding. If you are holding zero cash, I would say that it is a good strategy to at least have 10-15% cash now so that you can re-deploy as opportunities come up again.” Is it getting too good to be true or perhaps we should not get carried away with the momentum? What is your understanding of the market right now? It depends on the time horizon of the investors. So if it is a very long term, then it is fine. It does not matter. But I think when markets move up so rapidly in such a short period, in every bullish phase, we have seen that markets can correct 4% to 7% at any point of time without any reason so any investor who is getting in today needs to be ready for that.

Bollywood movie Dunki, starring Shah Rukh Khan, Taapsee Pannu and Vicky Kaushal, is set to release on December 21. The film has generated a buzz among fans, with large-scale first-day-first-show plans across India and globally. Dunki advance booking will start on December 16, as per Pinkvilla.

₹108.30 apiece on the back of profit booking. The stock was listed on the Indian exchanges on November 29 at a price of ₹60 apiece, an 87.5% premium over the issue price of ₹32. It continued the same upward trajectory for the next 11 sessions, achieving a record high of ₹123.30 apiece.

₹1,500 crore through a qualified institutions placement (QIP) of equity shares. According to a regulatory filing, the QIP involved the issuance and allotment of 43.2 million shares at an issue price of ₹347 per share, cumulatively amounting to ₹1,500 crore. There was robust response from domestic mutual funds and prominent global FIIs.

Also Read: PBOC's bold move: Injects $112 billion lifeline amid economic challenges The People's Bank of China (PBOC) said it was keeping the rate on 1.45 trillion yuan ($203.97 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions unchanged at 2.50% from the previous operation. With 650 billion yuan worth of MLF loans set to expire this month, the operation resulted in a net 800 billion yuan fresh fund injection into the banking system in December, booking the biggest monthly increase on record, Reuters reported.

Sanjiv Bhasin, Director, IIFL Securities, says “I would stick with the largecap banks. ICICI and Kotak are looking very good on the largecap stocks and in the midcaps, AU Bank is making a fresh move. AU Bank has arguably become one of the fastest growing small scale MFSI, which has got the license and now growing very rapidly. Their cost of money has fallen. And now with bond yields moderating, I think their MSME book will expand very fast. So I would go with ICICI, Kotak and AU Bank where I feel that there is a lot of value at these prices.” Seems like celebration for equity markets almost on a daily basis! It was no different yesterday and in fact was quite a stunning move. One of the laggard sectors like IT made a comeback, across-the-board in largecaps, smallcaps and midcaps. Any opportunities here? Welcome to Santa Claus rally. So no complaints and enjoy the party as it stands and take advantage of any weakness in the stocks because 2024 is going to herald a very strong equity market, at least till we have volatility of the elections.

Mayuresh Joshi, Head, Equity Research-India, William O'Neil, says “as metal demand comes back slowly and steadily as far as China is concerned, the expectations of a soft landing in the US, strong recovery signs that we are seeing in Europe and holding out of macros and the expectations of infra spend in India, is expected to keep volumes afloat as far as Indian companies are concerned. With a sharp recovery in LME prices, the large expectation is that operating leverage should start kicking in from the first of the next financial year. It is a pre-emptive move that we are probably seeing on a lot of these counters.” What do you think is aiding the move in metals and is it sustainable? Two-three factors are clearly aiding the kind of growth that is now coming through for the sector as a whole. One, yesterday, Powell statement which is clearly indicating that at some stage in the second half of the next calendar year rate cuts will be a given, that will give a huge boost to the global economy and commodities in general should see a huge comeback.

IPO) of Happy Forgings will open for subscription on December 19. The issue closes on December 21.

₹1,500 crore through Qualified Institutions placement (QIP) route. Sterling and Wilson shares gained as much as 4.99% to a fresh 52-week high of ₹445.30 apiece on the BSE. Sterling and Wilson Renewable had, on December 11, launched a QIP issue worth ₹1,500 crore.

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LTIMindtree Ltd. gained 3.07 per cent to Rs 6129.75 in Friday's session as of 10:35AM (IST) even as the equity benchmark Sensex traded 500.67 points higher at 71014.87. Earlier in the day, the stock witnessed a gap down start to the session.

Arvind with a buy rating, HSBC upgraded Colgate Palmolive India to a buy from hold earlier while it downgraded Nestle India to hold. Centrum Institutional Research initiated coverage on Ugro Capital with a buy rating. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: SPARK on Arvind: Buy| Target Rs 352 SPARK initiated coverage on Arvind with a target price of Rs 352.

Indian Oil Corporation Ltd. traded at Rs 122.9 on BSE at 10:00AM (IST) on Friday, up 2.41 per cent. The stock quoted a 52-week low price of Rs 72.35 and a high of Rs 123.1.

Renewable Energy Limited has raised Rs. 1,500 crore through the qualified institutions placement (QIP) route. The bulk of the proceeds from the QIP will be used to pare down debt furthermore providing us capital to pursue the fast-growing solar EPC markets in India and abroad, the company said in a statement, adding that the QIP witnessed a strong response from both domestic mutual funds and global FIIs. “The last couple of months have been challenging for us as an organization and the successful completion of the QIP is a significant moment in our journey," said Amit Jain, Global CEO, Sterling and Wilson Renewable Energy. The company had missed scheduled payments to lenders this September it faced a liquidity crisis triggered by the invocation of two bank guarantees. Shapoorji Pallonji and Company Pvt Ltd holds an 18.5% stake in the company and Reliance Industries, through a subsidiary, holds 40% equity. The company said it’s unexecuted order book as of September 30th, 2023, continues to remain healthy at Rs 6,835 crore aided by strong domestic EPC order inflows with a growing bid pipeline in both India and abroad.

Sahil Khan and three others. They have been instructed to appear before the SIT on Friday for questioning. Earlier, Dubai Police on Tuesday arrested Ravi Uppal, one of the two prime accused in the Mahadev Book online betting syndicate.

trading at new lifetime highs, wealth managers are seeing enquiries from investors on how they should approach the markets. And most out there give the same advice: stick to long-term goals and maintain asset allocation — which means diversifying portfolios across different assets such as equity, fixed income, and gold. «Asset allocation determines as much as 90% of the long-term returns of an investor's portfolio,» said Misbah Baxamusa, CEO of NJ Wealth. Maintaining asset allocation is a continuous process and should be carried out whenever there is a sharp rise in one of the asset classes, he added. Over the last year, the Nifty 50 moved up by 13.64%, while the Nifty Midcap 150 rose 35.91% and the Nifty Smallcap 250 rose 39.03%.

In a discussion moderated by Sruthijith KK, the ET CEO Roundtable panellists were not too worried about external headwinds, except for supply chain issues and commodity prices. They were of the view that with its entrepreneurial spirit and a young generation unafraid to take risks, India can forge ahead with the right kind of education and use of technology. What is the one aspect of global turmoil that is impacting your business? And what is one aspect of what India can do to thrive under the circumstances? Kunal Shah: Our industry is kind of limited to the startup ecosystem. The investors are telling us an interesting story —that in our markets, there seems to be this complete distress and we should not be acting.

Miljenko “Mike” Grgich, a celebrated winemaker who helped establish Napa Valley as one of the world’s premier wine-making regions, has died