Experts Financial News

Indonesian President Prabowo Subianto has announced that his government plans to retire all coal and other fossil fuel-powered power plants within 15 years, while drastically boosting renewable energy capacity

State Bank of India, Bank of Baroda, and Punjab National Bank, as investors regained confidence following Thursday’s sell-off. The Nifty PSU Bank Index rose 2.0% to 6,444.60 in early morning trading, reversing the losses from the previous session. State Bank of India saw a jump of 2.2%, trading at Rs 797.50, while Bank of Baroda and Punjab National Bank were up 2.8%, reaching Rs 235.00 and Rs 99.04, respectively. Other PSU banks, including Canara Bank and Bank of Maharashtra, gained 2.5% and 2.7%, respectively.

APAC) investors, with 68% expecting regional economic growth to positively impact real estate markets, mentioned Colliers’ Asia Pacific Report: 2025 Global Investor Outlook. As APAC investors prepare for a lower interest rate environment and narrowing pricing gaps, institutional investments in India’s real estate sector are expected to gain further momentum in 2025. The report highlights significant cross-border investment opportunities, particularly in the office and logistics sectors, with 67% of APAC investors planning to allocate capital to the region in 2025, it said. The report stated that the region is anticipated to commit over 30% of their total assets under management (AUM) to real estate over the forthcoming five years.In terms of sector focus for 2025, 61% of investors are directing their capital towards industrial and logistics, office, and multi-family/build-to-rent properties.Among those prioritizing office investments, 61% are specifically targeting core and core-plus assets within Central Business Districts (CBD). Furthermore, nearly 90% of respondents project that ESG-compliant office properties will achieve a valuation premium in the next three years.

Ambuja Cements Ltd. traded 2.51 per cent at Rs 495.90 at 10:48AM (IST) on Friday, even as BSE benchmark Sensex 399.77 points to 77555.56. The stock had settled at Rs 483.75 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 706.85 and Rs 408.60, respectively.

Tata Power shares are in focus today after the company signed a memorandum of understanding (MoU) with the Asian Development Bank (ADB) during the COP29 climate conference in Baku, Azerbaijan. The MoU aims to evaluate financing for several projects, with a total estimated cost of $4.25 billion. The MoU outlines the evaluation of financing for key ongoing projects, such as the 966 MW solar-wind hybrid project, the pumped hydro storage project, and other projects in the pipeline related to energy transition, decarbonization, and battery storage. It also includes ongoing financing for capital expenditures (capex) to strengthen the distribution networks managed by Tata Power.

Bharti Airtel, Jio Financial and Vodafone Idea are likely to remain in focus on Friday as the Telecom Regulatory Authority of India (TRAI) released the subscriber data as of September 30, 2024. According to the latest data as of September 30, 2024, India's broadband market continues to be dominated by five major players who collectively command 98.42% of the total wired and wireless broadband market share.

SJVN are likely to remain in focus on Friday as the company announced that it has signed a memorandum of understanding (MoU) with the Energy Department, Government of Rajasthan for the development of renewable energy in the state. “In compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is intimated that the Company has signed a Memorandum of Understanding (MoU) with Energy Department, Government of Rajasthan to spearhead the development of renewable energy in the state,” said the company in a filing to the exchanges.

The India VIX climbed 2.09% to close at 15.99 on Thursday, indicating heightened caution. FII selling pressure continues, as the Long-Short ratio hovers around the 25% level.

add call on Sobha with a target price of Rs 1628. The current market price of Sobha is Rs 1511.25. Sobha, incorporated in 1995, is a Mid Cap company with a market cap of Rs 16161.79 crore, operating in the Real Estate sector. Sobha's key products/revenue segments include Income from Sale of Commercial Flats, Shops & Plots, Sale of services, Income From Glazing, Income From Interiors, Concrete Blocks, Rental Income, Other Operating Revenue, Scrap for the year ending 31-Mar-2024.

Zinka Logistics will debut on the exchanges on Friday. Ahead of the listing, the company's shares were trading with a GMP of Rs 0 in the unlisted market. Considering the upper price band of Rs 273, the stock is expected to list at a flattish premium or even a discount to the issue price.

Shakti Pumps will be in focus today as the company has announced a bonus share issue in the ratio 5:1, for which the ex-date is November 25. This means today is the last day to buy the stock to be eligible for the bonus shares. The company had announced the record date earlier this month.

Sensex and Nifty tumbled on Thursday amid a sharp fall in Adani group stocks after billionaire industrialist Gautam Adani was charged in the US for alleged bribery and fraud. Stocks that were in focus include names like Paytm, which rose nearly 3.65% and IndiGo, which gained marginally by 0.55% and Varun Beverages, whose shares fell nearly 1% on Thursday.

Rahul Singh, CIO, Tata Asset Management, says the market has shifted away from thematic sector-based movements to stock-specific movements now and he expects that even while the markets remain sideways, the nature of the market will be very different and it will be a very bottom-up stock selection rather than the sectoral swings we saw in the last 24 months. So Singh says we should expect a slightly narrower market focused more on valuation and more stock specific. Between November 2021 and March 2023, there were 17-18 months of a very similar phase and it can happen again. What is your view on the market? We know the reasons for the correction which are basically valuation and earnings and the FII outflows, but the question is has all of that been factored in by the market and from here on do we expect a recovery or do you expect this the sideways move to be the nature of the market for the next couple of months? Rahul Singh: The market would be watching the earnings.

Enviro Infra Engineers will open for subscription today. The issue, which is a combination of a fresh equity sale worth Rs 572 crore and an OFS of nearly Rs 78 crore, will be available for bidding till November 26. The company proposes to utilise net proceeds from fresh issue towards working capital requirements, infusion of funds in subsidiary, EIEL Mathura Infra Engineers to build 60 MLD STP under project titled Mathura Sewerage Scheme and repayment of debt.

«We expect the market to remain range-bound over the next three months and for a back-loaded recovery as growth picks up,» said Goldman in a client note. «While the structural positive case for India over the medium-term remains intact, we remain tactically neutral on India given slowing growth, high starting valuations and a less supportive domestic and external environment in the near-term.»

Wall Street as investors shook off initial concerns over Nvidia Corp.’s revenue outlook. Bitcoin edged closer to $100,000 while the dollar gained. Shares in Australia and Japan advanced. An index of US-listed Chinese stocks fell 1% Thursday, running against the grain of trading in New York but partly reflecting selling in Hong Kong stocks in their most recent session.

Adani Enterprises, Adani Green, JSW Energy, Afcons Infra, Tata Power among others will be in focus due to various news developments. Adani Enterprises, Adani Green Shares of Adani Enterprises, Adani Green and few other group stocks will be in focus following a sharp 20% fall on Thursday due to US indictment against Gautam Adani.

«Markets are likely to react to the preliminary release of November month manufacturing and services PMI of US, Europe and India today. In the near term, we expect the market to remain volatile on account of global geo-political concerns, relentless FII selling and uncertainty around the outcome of state assembly elections in Maharashtra and Jharkhand,» said Siddhartha Khemka, Head — Research, Wealth Management, Motilal Oswal. Here's breaking down the pre-market actions:

Lisa Su, chair, and chief executive officer (CEO) of Advanced Micro Devices (AMD)--credited with reversing the fortunes of the American chipmaker—is now taking the fight to industry leaders like Nvidia. In an interview with ET Su said that the $ 22.7 billion firm whose market cap has soared to $223 billion, is also building two supercomputers in India. It could also enhance investments in the country beyond the $ 400 million announced last year, said the 55-year-old executive. Edited excerpts: AMD has completed 20 years in India, what role do you see the country playing in the era of AI?

Zepto, which has raised another $350 million in new funding from prominent domestic investors, aims to become a company with a majority Indian ownership, chief executive Aadit Palicha said. Zepto is not an “Amazon or Walmart” but an Indian firm with plans to go public on Indian bourses, Palicha said in an interview with ET. He said the four-year old firm is not hurting kiranas or mom-and-pop stores — an allegation that Zepto and other quick-commerce firms are facing — and is a “net-job creator to the country’s consumption story". Founded by Stanford University dropouts Palicha and Kaivalya Vohra, Zepto has emerged as one of the fastest-growing consumer internet firms in India, fuelled by $1.4 billion that it raised in the last five-six months.

Zepto has raised an additional $350 million in funding from Indian high net-worth individuals (HNIs), family offices, and leading financial institutions. The fundraise was led by Motilal Oswal’s private wealth division, the company said in a statement. This adds to the $1 billion war chest Zepto has amassed over the past few months to take on rivals like Zomato’s Blinkit, Swiggy Instamart and others. ET first reported in October about Zepto looking to onboard local investors with a mandate of raising $150 million. Subsequently, we reported on November 15 that the round had doubled in size as the quick commerce firm sought to boost local shareholding and investor interest in the sector was at a peak.