Digital Financial News

Multibagger IPO: Investing in an Initial Public Offering (IPO) is like investing in a business. Like investing in stocks, one needs to scan the financials of the company offering its shares in the primary market. Like intraday stock market traders, a good number of primary market investors invest in an IPO and exit immediately booking listing premiums.

₹3,105 per share by rolling forward RIL’s New Energy valuation to FY26E sales. It has a ‘Buy’ rating on the RIL shares. Reliance Industries has strategically invested in ten global technology innovators across New Energy verticals.

growth in earnings for the quarter ended December. However, the growth in both topline and bottomline is expected to be in single digits because of a weak show by the oil-to-chemicals (O2C) business. Meanwhile, numbers across parameters are expected to drop sequentially mainly because of the O2C vertical. Consolidated revenue of RIL is likely to rise 5% YoY to Rs 2.31 lakh crore, but fall about 2% sequentially, according to the average of estimates given by nine brokerage firms. Consolidated net profit is expected to grow 9.3% YoY to Rs 17,257 crore, but drop nearly 1% sequentially. Earnings before interest, taxes, depreciation and amortization or EBITDA is expected to increase 4% YoY to Rs 40,030 crore, but fall sharply by 11% sequentially. The toy-to-telecom conglomerate is scheduled to release its earnings after market hours on Friday.

Taiwan's TSMC will formally open its new chipmaking foundry on Japan's Kyushu island on February 24, its chairman said Thursday, which is part of their plan to expand its global manufacturing footprint. Taiwan Semiconductor Manufacturing Company — whose clients include Apple and Nvidia — controls more than half the world's output of silicon wafers, used in everything from smartphones to cars and missiles.

The Securities and Exchange Commission (SEC) of Thailand has updated the criteria for investing in digital tokens, easing some restrictions.

Following a challenging 2022, 2023 proved to be a year of recovery, NIFTY with strong growth of about 20% in CY2023 compared to a meagre 3% in CY2022. Globally, except for a 15% decline in the Chinese and Hong Kong markets, the markets recovered between ~14% and ~25%. Notably, the NASDAQ jumped 45% while the S&P 500 increased by 25%. Healthy returns of CY2023 were on back of negative returns in the range of negative ~8 to ~34% in CY2022 with NASDAQ falling the most at 34% and an exception of Indian markets (positive 3%) being stronger than the world. The year 2023 was not without difficulties, though, as interest rates reached previously unheard-of levels, sparking fears about future economic growth and recessionary expectations in the developed world. Despite challenges, Indian markets and a number of sectors saw outstanding performance, with real estate (up 78%), PSE (up78%), and Autos (up 45%) showing particularly strong returns. The outstanding returns were delivered for the BSE SME IPO index delivering 91%. Abundant liquidity fuelled the IPO markets with astounding oversubscriptions. Moreover, the shift in ownership dynamics, marked by higher domestic ownership and strong inflows, added strength to the market. Global Economic Scenario

Insurers in India grappled with multiple issues while reviewing motor accident claims and among them stood out damage to cars by stray dogs, falling coconuts and even elephants, TOI reported. According to Go Digit’s year-end roundup, these unique claims showcase the diverse and unexpected challenges faced by vehicle owners in India. Even though they form a comparatively smaller portion of mainstream claims, insurers noted claims arising from collisions with fixed objects or parked vehicles, as well as damages caused by falling branches. Data shows that the most prevalent type of accident claim results from rear-end collisions with another vehicle, closely followed by frontal collisions and hit-and-run cases. Among the peculiar incidents, claims involving animals stand out.

Anand Tandon, Independent Market Analyst, says “Even if you had assumed that before this fall there was only a 10% upside, now there is a 15% to 17% upside. So, there is no particular reason that one should not be looking to buy in now, especially if you have a bullish view. Of course, if you are sceptical about the market, that is a different point of view altogether, but I would still think that a bank like HDFC Bank should be part of your core portfolio and there is not much that you can do other than to trade off at the margin. What to do with HDFC Bank now with the weakness that the stock is seeing? Anand Tandon: We are looking at an issue where the deposit growth is slower than what the market was anticipating and more importantly, it means that the credit growth, which is actually doing quite well, has to be slowed down a bit. But on the other hand, the extra capital that they have had to keep is now peaked out and therefore they will start to come down. The fall that they had already predicted, which had been forecast by the management that the ROE will have to fall by at least 50 basis points, has already started to play out. So, while it may take a little while longer for it to go back to a sensible growth number, I would still argue that you will get a reasonable double-digit growth from HDFC Bank going forward and this kind of fall, we keep hearing there is a lot of money on the sideline.

Google will tweak online search results to give comparison sites more prominence, the company said in a blogpost on Wednesday, as it outlined efforts to comply with new EU tech rules that could hit revenues for some companies. Under the European Union's Digital Markets Act (DMA), which the company will have to comply with by March 7, Google is obligated to treat rival services and products the same way as it treats its own when it ranks them in search results.

earnings on Thursday along with 41 other companies. After HDFC Bank's results on Tuesday which left the Street unimpressed, investors will be keeping a close watch on the earnings of this fifth largest private bank. Among other important results that are likely to be tracked closely today include those of Indiamart InterMesh, Mastek, Metro Brands, Polycab, Home First Finance Company, Poonawalla Fincorp, South Indian Bank, Shoppers Stop and Tata Communications. On Wednesday, Asian Paints reported a 35% year-on-year (YoY) rise in consolidated net profit for the quarter ended December to Rs 1,448 crore. This was higher than the ETNow poll of Rs 1,353 crore. Consolidated revenue from operations grew by 5.4% YoY to Rs 9,103 crore but trailed estimates of Rs 9,356 crore. LTIMindtree was another Nifty company which reported a consolidated PAT of Rs 1,168.9 crore versus ET NOW poll of Rs 1,175 crore. The IT services company's net profit rose 17% YoY. The same stood at Rs 1,000 crore a year ago. Read More: IndusInd Bank Q3 result preview: Profit, NII to grow in double digits; asset quality stable

“70-75% of the portfolio in our view should be in largecaps. Remaining should be largely in small caps and only very high conviction should be held in mid-caps,” says Varun Saboo, Head — Equities, Anand Rathi Shares and Stock Brokers. In an interview with ETMarkets, Saboo said: “There could be some element of populist measures as well which could aid consumer stocks in the near term,” Edited excerpts: The market seems to have climbed all wall of worries to hit fresh highs in the first week of January 2024. But, the voice is getting louder both domestic and global that these valuations are unsustainable. What is your take? Varun Saboo: We are definitely in one of the strongest runs, something which hardly anyone would have envisaged. However, in terms of valuations, there are a lot of midcaps that are trading rich and leave little room for upsides.

Anthropic has asked a Tennessee federal court to reject an early bid by three music publishers to stop it from using and reproducing their song lyrics through its chatbot Claude. Anthropic told the court on Tuesday that Universal Music, ABKCO and Concord Music Group could not prove they were being irreparably harmed. It also argued that the publishers had brought their lawsuit against the company in the wrong court.

Florida Governor Ron DeSantis has signalled that he would largely bypass the New Hampshire primary next week and instead would focus on South Carolina where the Republican presidential primary is scheduled for February 24. The move makes it a direct contest between former president Donald Trump and Indian American Nikki Haley for the crucial Republican presidential primary in New Hampshire on January 23. The latest poll released Wednesday showed that Trump and Haley are tied in this State with both polling 40 per cent each.

Mint. She said that ‘greenwashing’ was a type of misleading claim for which the body had been receiving complaints. “This is the first time we are putting out these guidelines because these claims have been rampant across categories, including personal care, food products, beverages, automobiles, digital devices, and the real estate industry," she said.

MEXICO CITY (Reuters) -Mexico's Grupo Financiero Banorte reported on Wednesday a 13% increase in its net profit for the final three months of last year, driven by loan growth and lower costs, and predicted its revenue would grow around 10% in 2024.

Fintech Flourish has rolled out a platform that will make it easier for registered investment advisors to provide fee-based annuities for their clients.

As the stock market braces for a potential pullback, with CNBC’s Jim Cramer pointing to overvalued tech stocks and artificial intelligence ventures, the impact on cryptocurrency markets, particularly Bitcoin price prediction, becomes a focal point of interest.

Analysts at BTIG upgraded Marathon Digital (MARA) from Neutral to Buy on Wednesday, citing the positive effects that the recent watershed approval of Bitcoin ETFs is having on the flagship cryptocurrency and crypto mining stocks.

Social media platform X received approval for a money transmitter license in Virginia, the 17th U.S. state to grant approval, as the Elon Musk-owned company advances efforts toward introducing payment features. The Virginia license allows X to facilitate money transfers electronically as of Tuesday, according to the Nationwide Multistate Licensing System & Registry, an online database.

Economists are reputed not to have any skin in the investment game. They make projections and presentations and talk to investors who invest in their stories. The government promotes digitization, which involves commerce going online and eases activity as well as audit trails.

(Reuters) — CNN's new CEO Mark Thompson plans to combine all newsgathering operations of the news network into one unit that would serve its television, streaming and digital platforms, the Wall Street Journal reported on Wednesday.