Booking Financial News

New Year's Eve and Christmas Eve, about 48 per cent of Indians plan on increasing their travel budget in 2024, according to a report by ACKO in collaboration with YouGov Travel. About 60 per cent of Indians are set to travel to international destinations this year.

Rahul Sharma, Director, JM Financial Services, says “it is better to look at relative setups, stocks and sectors which have not participated in the last few days of rally. So relative setups become the go-to trade at this point in time. Do not chase the ones which have already done well and are already topping the charts on long term time frames. The best thing to do is something like banking, which is still away from its life high.” I remember the note which you had put out at JM quite ahead of the curve. You had it spot on. Such a big gap and it is not even giving any fresh buyers an opportunity. There is not a single pullback on an intraday at least till 12 noon. I mean, what do the traders do? They will have to play, chase the stocks. What are you recommending to your clients? There are three things happening here. One is the market was very light in terms of the long positioning. In fact, on the way up in the last week it was primarily a short covering rally. We saw both the indices Nifty, Bank Nifty, OI shedding by 15% week on week. We saw index components lose as much as one third of their open interest in a week. It was supposed to be the breakout that we all were expecting. Now what has happened is we have seen a short covering. Longs are very light. FIIs still have some residual shorts which means that a lot of people have missed out on this rally.

Newgen Software Technologies share price rallied over 4% on Monday after foreign brokerage firm Jefferies raised target price on the stock. Newgen Software shares gained as much as 4.16% to ₹1,474.00 apiece on the BSE. Jefferies maintained a ‘Buy’ rating on Newgen Software Technologies and raised the target price to ₹1,740 per share, based on 35x PE, implying a PEG of 1.3x, from earlier ₹1,275.

Mayur Milak, Senior V-P- Auto & Aviation, Asian Markets Securities, says “Q3 is one of the best quarters for the aviation industry. If I look at IndiGo, we have just seen the correction in ATF prices at the beginning of December as well. Now, if I just compare this quarter's fuel cost vis-à-vis the earlier quarter, they are up by about 10%, maybe but your fares are up by almost 20%. So, it clearly gives a very strong edge on profitability.” Let us look at this question purely from the standpoint of somebody who wants to say, okay, I went on a booking portal and prices have been exorbitant. I went on a hotel website, prices were sky high. Now, as a customer, I may be feeling a pinch but as an investor, is it time to say buy some of these travel platform companies, aviation stocks or hotel stocks? Clearly, yes. Q3 is one of the best quarters for the aviation industry. If I look at IndiGo, we have just seen the correction in ATF prices at the beginning of December as well. Now, if I just compare this quarter's fuel cost vis-à-vis the earlier quarter, they are up by about 10%, maybe but your fares are up by almost 20%. So, it clearly gives a very strong edge on profitability. And with the kind of scenario pricing power that these guys are sitting on at this point, clearly a very strong buy.

Sanjeev Prasad, MD & Co-Head, Kotak Institutional Equities, says “everybody likes the long-term story of India. People want to put more money to work into India, so now that whatever little uncertainty was there with respect to election results and the probability of a correction in the market has obviously gone down dramatically, probably it makes sense to jump in now rather than wait for something else to happen which may result in a break in the market and give an opportunity for investors to come in. ” Will the bulls continue to smile or is it time to hold back your horses and say that this is a euphoria and euphoria really makes money? Well, it depends on which part of the market you are looking at. If you are looking at the very largecaps or the megacaps, the valuations are still pretty reasonable and that is a part of the market where we have been highlighting investors to focus incrementally over the last two, three months now. The financial sector space has been a bit underperformer. The valuations are very reasonable there and even attractive in some cases. Now, if you look at the rest of the market beyond the megacaps and the financial space, there is not much value left over there. The consumption names, pharmaceutical, IT are probably fully valued to fairly richly valued, I would say. So the scope of making money from here seems to be somewhat limited a bit about what our short term euphoria will be there and where the stock price may go in the short term.

By Makiko Yamazaki and Ritsuko Shimizu

Kalpataru Projects International Limited (KPIL) on Monday announced bagging new orders worth Rs 2,263 crore in the domestic and overseas markets. The company's transmission and distribution (T&D) business has secured orders totalling Rs 1,564 crore in India and overseas markets, KPIL said in an exchange filing.

Shashank Srivastava, Senior Executive Officer (Marketing and Sales), Maruti Suzuki India, says “the stock level varies from geography to geography and dealer to dealer. One of the critical factors for discounting to go up or down is how much is the supply with respect to demand. You would see elevated levels of discount. It is not just about small cars although those cars are under greater stress and therefore it is expected discount levels will continue to be high in this segment. But the discounts would be across the board and every model stock at the end of December should be lower from the perspective of dealers as well as from the OEMs.” Your month-on-month sales have declined by 20% in November. What has led to that and is this a one-off? I think when you are saying month-on-month, you are comparing November figures with October ones. October, remember, was a record month, 391,000 vehicles sold in the industry. And there was obviously a build-up to the festive season because in November, in the first fortnight, we had the Diwali, the Dhanteras, the Bhai Dooj. So obviously, there was some build-up of stocks by the dealers in anticipation of good retails in the first fortnight of November. That does not exist for December because in December, everybody would like to carry lower stocks and try to reduce as much as inventory as possible for the previous year's model year.

Tata Elxsi Ltd. fell 0.61 per cent to Rs 8366.5 in Monday's session as of 01:24PM (IST) even as the equity benchmark Sensex traded 1113.51 points higher at 68594.7. Earlier in the day, the stock witnessed a gap up start to the session.

₹1,845, indicating an upside of 10 percent from its current market price of ₹1,679.70. Endurance Technologies Limited serves as a comprehensive solutions provider, specialising in aluminum diecasting, suspension, braking systems, and transmission products. Distinguished as a Tier 1 supplier, the company caters to renowned Indian and global brands across the spectrum of 2-wheelers (2W), 3-wheelers (3W) and passenger vehicles (PV).

MUMBAI : The Securities Appellate Tribunal has quashed the market regulator’s 2021 order against Reliance Industries Ltd managing director Mukesh Ambani, Navi Mumbai SEZ, and Mumbai SEZ in a case related to alleged manipulative trades in Reliance Petroleum Ltd shares. In January 2021, the Securities and Exchange Board of India imposed a penalty of Rs25 crore on Reliance Industries and Rs15 crore on Ambani. It had also asked Navi Mumbai SEZ to pay a penalty of Rs20 crore.

Cost of Living LIVE December 4: The cost of living is basically the amount of money one needs to survive in a given place – and one's most essential needs such as food, water, housing, taxes, cost of commute, healthcare, etc. The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket.

Indian Hotels Company Ltd. gained 0.96 per cent to Rs 430.65 in Monday's session as of 12:12PM (IST) even as the equity benchmark Sensex traded 981.9 points higher at 68463.09. Earlier in the day, the stock witnessed a gap up start to the session.

Colgate-Palmolive (India) Ltd. gained 0.19 per cent to Rs 2281.35 in Monday's session as of 12:02PM (IST) even as the equity benchmark Sensex traded 967.67 points higher at 68448.86. Earlier in the day, the stock witnessed a gap up start to the session.

Gold rate today: On account of US Fed rate cut buzz after Jerome Powell's speech, gold price today ascended above $2,100 levels and hit a new life-time high of $2,146 per ounce levels in early morning session in Asian stock market. Gold rate today ascended to a new life-time peak in domestic market as well. Gold future contract for February 2024 expiry on Multi Commodity Exchange (MCX), opened upside and went on to hit new life-time high of ₹64,000 per 10 gm levels.

Canara Bank, part of the PSU banking segment, rallied more than 20% in the last 3 months to hit a fresh record high in December 2023 and the chart pattern suggests that the rally may not be over yet. Short-term traders can look to buy the stock for a target of Rs 432 in the next 3-4 weeks, suggest experts. The PSU stock hit a 52-week high of Rs 419 on 1st December 2023. It rose from Rs 328 as on 1st September to Rs 410 recorded on 1st December which translates into an upside of about 25% in the last 3 months. The stock rose more than 5% in a week, and over 7% in a month. The PSU stock bounced back after taking support above 380 levels in the last week of November.

Stock market today: Shares of Punjab National Bank (PNB) witnessed huge buying interest during morning deals on Monday. PNB share price today opened with big upside gap at ₹83.15 apiece levels on NSE and went on to hit intraday high of ₹83.95 per share levels, which turned out a new 52-week peak for PNB shares. PNB share price rebounded strongly after touching intraday low of ₹82.30 per share afer profit booking trigger at 52-week high.

BOB Ke Sang Tyohaar Ki Umang" festive campaign, groups all the bank accounts belonging to members of a single family under One Family. While each account will be operated independently by the primary account holder, the maintenance of the quarterly average balance (QAB) is recorded at the Group/ Family level, eliminating the need to maintain QAB in every single account. Ravindra Singh Negi, Chief General Manager - Retail Liabilities & NRI Business, Bank of Baroda said, “ By grouping individual accounts of single-family or associated companies, our customers will be greatly rewarded with superior benefits, which are normally provided in accounts maintaining higher balances.

Kunj Bansal, National Institute of Securities Markets (NISM), says “there is a lot of money available in the market and in such a scenario even not so good companies with expensive valuation gets subscribed multiple times, leave aside good companies getting expensive valuations and getting oversubscribed. As a result one does not get any allotment in the IPOs and so instead, one should focus on the valuation at which one is comfortable for entering into such companies post listing.” TCS buyback has opened, the Rs 17,000-crore buyback and it is coming in at a premium of almost 20-25% from the current market price. Would you recommend people to tender their shares? These days the buybacks have become synonymous with dividends.

India by selling its controlling interest in a high-profile, six-year-old joint venture that includes Tata group, HDFC Bank and ICICI Bank. Mathew Cyriac, former PE co-head for Blackstone India, has emerged as frontrunner to buy a controlling 51% in IARC, said people in the know. The exercise values International Asset Reconstruction Company (IARC) at Rs 200 crore, people aware of the proposed deal told ET.

Investing.com — Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for Boeing, Spirit Aerosystems, and Constellation Brands; downgrades for Foot Locker and Airbnb.