Booking Financial News

India Hotel Ltd, part of the hotel & resort industry, hit a fresh record high after a breakout from a channel formation in the last week of August. Short-term traders can look to ride the momentum for an upside target of Rs 465 in the next 3-4 weeks, suggest experts. The stock has been moving in a range since June 2023 where levels around 400 acted as a stiff resistance on the upside while support was seen above 350 levels on the daily charts. It witnessed a breakout from the consolidation range on 30 August 2023 and since then the stock has been moving in an upward trajectory. The stock has been making higher highs and higher lows for the last 3 weeks. The stock also climbed above the 50-DMA on 30 August 2023 which suggests that the short-term momentum is on the upside.

Zaggle Prepaid Ocean Services has announced the price band of its upcoming public issue at Rs 156-164 per equity share. The three-day issue opens on September 14, Thursday. The minimum lot size of this Zaggle Prepaid Ocean Services IPO is 90 shares which is worth Rs 14,760. The company received approval from markets regulator Sebi to launch an IPO in April.

Sandip Sabharwal, asksandipsabharwal.com, says people who are buying speculative stocks at this stage should be a bit careful. But I do not see a very deep sell-off in the sense that it is not going to be a 10-15% kind of correction. A moderate correction will give opportunities to buy. Overall equity outlook is still constructive.What has been keeping you busy apart from enjoying a break from the markets?Markets are very interesting in the sense that we have seen, again, a break in correlation of Indian markets with the global markets, which happens but it does not sustain. So, that is something we need to watch out for. The result season went and came and went and I think to that extent, all of that got factored in. Now, there are some concerns related to valuation, the impact of monsoon not being as good etc. But overall, my base case view always was that October-November will be the time when we should see some sort of correction in the market which should happen because the rise in the midcap indices has been quite euphoric. Typically that has to be followed by some sort of correction

On Comex, Gold futures were trading at $1,946.60 per troy ounce on Monday, up by $3.90 or 0.20% while Silver futures were at $23.300, higher by $0.126 or 0.540%. The October Gold futures had ended with losses of Rs 91 or 0.15% per 10 gram at Rs 58,907 on Friday while the December Silver futures closed lower at Rs 71,538, down by Rs 232 per kg or 0.32%. «The gold price will continue to trade in a broader range of $1,905 to $1,935. From a technical perspective, Comex gold has strong support at $1,915.

Vinod Karki, Equity Strategist, ICICI Securities, says “the universe of value stocks is falling by the day. There is nothing which is bombed out at this point in time. Everything is rising and which is a typical bull market scenario where everything keeps rising. One has to keep looking at sectors where the growth continues.”Let us talk about the power space, especially PFC, REC, which have seen a 10-12% move. The REC management told ET Now that they would go net debt-free and valuations from 0.5 book have become close to one time book. Do you see scope for a further expansion of valuations in PFC, REC because of stemming of T&D losses and good recoveries?Yes, the price to book ratio has strong fundamental correlation with the return equity and now the earnings will look ahead. In fact, a lot of these companies which are driven by book and are at reasonable price to book and as the outlook for return equity and growth continue to pick up, I do not see why the price to book should contract, especially when they are not way above the one or two level.

Jawan has not only met expectations but significantly exceeded them, amassing a staggering ₹384.69 crore worldwide in just three days. On the other hand, Shah Rukh Khan’s movie has earned ₹316.56 crore in just its first five days at the domestic Box Office. The movie's performance signals a blockbuster start, making it one of the highest-grossing Indian films of the year so far.

By Echo Wang and Anirban Sen

Chandrababu Naidu to 14 days judicial custody in the skill development scam case. Naidu was arrested by the Andhra Pradesh CID in the wee hours of Saturday.BJP’s national secretary Y Satya Kumar condemned the arrest of Naidu and said that certain procedures must be followed while arresting someone and that there should be a reasonable cause. He said that if that is not followed, one is forced to think that it is an act of prejudice.TDP leader Kesineni Srinivas had on Saturday, written letters to the President, Prime Minister and the Union home minister requesting them to look into the arrest, which he termed “illegal”. “Chandrababu Naidu’s arrest was illegal. He has been arrested in what appears to be a case of a political vendetta,” TDP MP Ravindra Kumar told ET. Kumar was present in the sessions court on Sunday and is part of Naidu’s legal team. TDP supporters on Sunday observed a one-day hunger strike at different locations across the state. Reacting to the arrest, YSR Congress leaders said that anyone who is involved in the misappropriation of public money should be brought to book and Naidu is no exception.

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: GM allies with Tesla; charging startups in need of a boost; all eyes on Stellantis.

₹80 lakh on a gorgeous dancer in a single night. The amount mentioned in the rumour had kept increasing for some hours before settling at “80 lakhs." There was no doubt though that a man known as Abdul Karim Telgi had tipped the dancer a considerable sum. The inner circles of dance bars include cops.

Wheel of Time" season 2 has made a triumphant return to our screens, igniting excitement and conversations among fantasy enthusiasts. This beloved series, now in its second season, initially captured global audiences in 2021, drawing inspiration from Robert Jordan's renowned fantasy book series.

Kempegowda International Airport are likely to face inconvenience in booking cabs due to the Bengaluru bandh protest on September 11. “Due to the one-day protest called by private transport vehicle association on September 11, 2023, there might be disruption in the operation of taxis, maxi cabs, private buses & auto rickshaws,” said Bengaluru airport on Social media platform X. It advised passengers to plan their travel to and from the airport accordingly. The Federation of the Karnataka State Private Transport Associations has called for a 'bandh' seeking a ban on bike taxis, and urging the government to extend the Shakti scheme — that offers free bus rides to women on state-run transport buses — to private buses as well, among other demands. The private transporters have claimed that they have been negatively impacted by the Shakti scheme and that the state government has not fulfilled their demands despite repeated discussions. About 7 to10 lakh vehicles including autos, taxis, airport taxis, maxi cabs, goods vehicles, school vehicles, also stage carriages, contract carriages and corporate buses, will go off the roads tomorrow, S Nataraj Sharma, president of the federation said. Federation office bearers have said that they have organised a protest march from Sangolli Rayanna circle to Freedom Park in the city as part of the bandh. The Bengaluru Metropolitan Transport Corporation (BMTC) will run more bus trips and services in the city and also to Kempegowda International Airport on Monday to mitigate the inconvenience caused to the public by the bandh. Transport Minister Ramalinga Reddy had recently said that the government was open to talks with the federation and is also making preparations to ensure that the

Rahul Gandhi said during an interaction with students and academics in Paris, adding that ruling party is out to get power at any cost, the PTI reported Sunday. “I have read Gita, I've read a number of the Upanishads, I've read many Hindu books; there is nothing Hindu about what the BJP does, absolutely nothing," the PTI quoted the Congress leader as saying, in response to a question about the rise of “Hindu nationalism" in India. "I have not read anywhere, in no Hindu book, from no learned Hindu person have I ever heard that you should terrorise, harm people who are weaker than you.

Yatra Online Limited (yatra.com) will see its initial public offering open for public participation on September 15. The company had filed its DRHP with SEBI on March 24 last year. The issue comprises of a fresh issue size of Rs 602 crore and an offer for sale of upto 12,183,099 equity shares.

IPOs This Week: The primary market witnessed some major listings in both main board and small- and medium-sized enterprise (SME) segments last month, which kept investors engaged with subscriptions and listings. Moving on, the upcoming week sees strong market buzz for September, which is similarly packed with new listings and initial public offering (IPO) issues, that are available for subscription. ‘’There was decline in IPO activities in 2022 and expected to have a jump of 30 per cent in IPO issuance in 2023.

These comic books explore intriguing characters, midlife situations, unconventional narratives, and humorous anecdotes about dating to ensure a continuous stream of laughter.Todd Barry, 'Domestic Shorthair' Todd Barry speaks fluent sarcasm. After decades of refinement, honing his low-key deadpan into something flexible and distinctive, he can turn a sentence inside-out with the mildest shift in intonation, instantly divorcing what he says from what he means. The pivots in his jokes are subtle but crisp.

Dennis Austin, who co-created the PowerPoint software almost 36 years ago which is still being used by millions, has passed away in the US. Austin, 76, died from lung cancer that metastasised to the brain, reports The Washington Post.

RIL, Canara Bank and Tata Motors DVR are top 3 trading ideas of the week by Kunal Shah, Senior Technical & Derivative analyst at LKP Securities. "Reliance Industries has recently experienced a breakout on the daily chart, accompanied by a significant surge in trading volumes. This breakout suggests renewed bullish momentum in the stock," he says. Edited excerpts from an interview:Given the broad-based buying seen in the market last week, do you think Nifty will easily scale the 20,000 peak ignoring all the concerns around the spike in crude oil price and dollar? What are the targets?The market is currently characterized by bullish momentum, driven by increased participation from large-cap stocks.

This week, IPOs of three companies including RR Kabel, SAMHI Hotels, and Chavda Infra (SME), will open for subscription. «A strong pipeline of over USD 9 billion, which has been approved by capital markets regulator Sebi, and another USD 6 billion filed with the capital markets watchdog, of which USD 10 billion should fructify. Remaining fiscal 2023 looks promising for primary markets,» Mahavir Lunawat, Managing Director of Pantomath Capital Advisors. «Next week looks promising with IPOs like EMS Limited, RR Kabel among others on the horizon, targeting to raise cumulative funds amounting to Rs 3200+ crore,» Lunawat added. Further, it is encouraging to note that as the IPO market is sizzling, FPIs have poured over Rs 21,000 crore into IPOs in Apr-Aug’23, he said.Mainboard IPOsRR KabelThe initial public offer (IPO) of consumer electrical product maker RR Kabel would open for public subscription on September 13.

Sudip Bandyopadhyay, Group Chairman, Inditrade Capital, says “if somebody is willing to take a long-term bet, L&T definitely is a good buy. There may not be any miracles in the short term but if somebody is having, let us say, a two to three-year time horizon in mind, even at current level, L&T is a good buy. I will say the same thing for some of the other capital goods companies like Siemens and ABB. It is a secular positive cycle for capital goods companies.”It is a problem of plenty, I guess, within the industrial space, right? But let us start off with the pure play capital goods names, be it L&T, BHEL or even the smaller ones, what do you buy more and do you buy more at this juncture after the kind of spurt and run up that these stocks have seen?Well, I think, you know, it is a confluence of factors, which has kept these stocks moving. As far as L&T is concerned, we have been talking about the hydrocarbon opportunity, which is definitely there for L&T and that has started materialising. Look, with global oil prices moving up and almost hovering in the range between 75 and 90, I think a lot of opportunities are opening up in the Gulf and those hydrocarbon opportunities have started crystallising for L&T.

Sanjiv Bhasin, Director, IIFL Securities, says “Mr Vaidyanathan, according to me, is the best banker in India. I see no letup in this stock. Yes, it is an expensive stock. It has run up far in excess but who is to blame? There was so much under-ownership and IDFC First is headed higher. Bhasin also says that “Page Industries is a must-have. It is one of the best consumer stocks. Wait for declines to add some. Also, Indian Hotel or a Devyani or a United Spirits cannot be rebuilt.”IDFC First Bank has managed to outperform its other banking peers but do you think most of the rally is over and it is time to switch into other names?For the last two years, I was advocating this stock at Rs 30-35. And there would always be the argument on why should it perform? It was a lending institution and so on. And I only pursued that stock on the basis of Mr Vaidyanathan. Today, there is a sell report or whatever, but Morgan Stanley has been bearish from Rs 30. How will he justify Rs 100? The business is humongous.