Experts Financial News

Tube Investments of India Ltd. 0.34 per cent to Rs 3455.95 in Monday's trade as of 12:36PM (IST) even as the benchmark Nifty ruled at 23538.0, 5.3 points. The scrip had closed at Rs 3444.00 in the previous session. The stock quoted a 52-week low of Rs 3130.50 and a high of Rs 4807.05. The company quoted a market-cap of Rs 66409.54 crore on the BSE.

Hindustan Aeronautics (HAL) today surged 4% to an intraday high of Rs 4,246 on the BSE today after the company on Thursday reported a consolidated net profit of Rs 1,510 crore for the quarter that ended September 30, 2024, rising 22% over Rs 1,237 crore reported in the year-ago period. The revenue from operations stood at Rs 5,976 crore, gaining 6% over Rs 5,636 crore posted by the company in the corresponding quarter of the previous financial year.

Kerala Police, a driver from Thrissur has been fined Rs. 2.5 lakh and had his driving licence revoked for obstructing an ambulance. The incident, which occurred on November 7 in Chalakudy, involved the driver allegedly denying the right of way to an emergency vehicle en route to Thrissur Medical College. According to a report by TimesNow, this action has sparked widespread discussions on road safety and emergency response etiquette.

Ambuja Cements Ltd. traded at Rs 548.05 on BSE at 11:24AM (IST) on Monday, 0.62 per cent from previous close. The scrip quoted a 52-week low price of Rs 408.60 and a high of Rs 706.85.

Cummins India Ltd. rose 0.16 per cent to Rs 3323.10 in Monday's trade. It hit an intraday high of Rs 3356.20 and low of Rs 3267.50, respectively, during the day. The stock quoted a 52-week high price of Rs 4169.50 and low of Rs 1779.20.

Amazon India is moving its headquarters from the World Trade Centre in the northwest part of Bengaluru to a location close to the city’s airport in a bid to cut costs, according to a report by Mint. The ecommerce and cloud computing giant currently occupies half a million square feet of office space across 18 floors in a 30-floor building by Brigade Enterprises. Amazon’s new office is a 15-minute drive from the Bengaluru airport. It is likely to cost the company a third of the Rs 250 per square feet rent it paid in the WTC office. The relocation will begin in April and be completed by 2026, the report said.

Institute of Company Secretaries of India (ICSI) released the results for the Company Secretary Executive Entrance Test (CSEET) on Monday at 11 am. The exam took place on November 9 and 11, 2024. The institute stated, “The Result of the Company Secretary Executive Entrance Test (CSEET) held on 9th November 2024 and 11th November 2024 will be declared on Monday, 18th November 2024, at 11:00 AM. The result along with individual candidates’ subject-wise break-up of marks will be made available on the Institute’s website at www.icsi.edu.”

Hero Motocorp (HMCL) rallied 5% to their day’s high of Rs 4,835.90 on the BSE after the company reported 14% growth in its standalone net profit at Rs 1204 crore in the second quarter. Revenue from operations in the reporting period rose 11% YoY to Rs 10463 crore.

ELSS funds or tax-saving funds have turned Rs 10,000 monthly SIP to more than Rs 1 crore in the last 25 years. Only these seven ELSS funds have completed 25 years of existence in the market. SBI Long Term Equity Fund, the oldest ELSS fund, turned Rs 10,000 monthly SIP to Rs 5.66 crore in the last 25 years. The scheme gave an XIRR of 19.43% in the same period.

On the BSE, AIK Pipes & Polymers(down 20.00 per cent), Honasa Consumer(down 20.00 per cent), Ascensive Educare(down 20.00 per cent), Unitech Intnl(down 19.77 per cent) and Looks Health Services(down 19.66 per cent) were among the stocks that plunged over 5 per cent during the session.

HDFC Securities has buy a call on KNR Constructions with a target price of Rs 374. The current market price of KNR Constructions is Rs 302.1. KNR Constructions, incorporated in 1995, is a Mid Cap company with a market cap of Rs 8505.94 crore, operating in the Infrastructure sector. KNR Constructions' key products/revenue segments include Income From Contracts and Other Operating Revenue for the year ending 31-Mar-2024.

FII selling that has wiped off nearly Rs 50 lakh crore from the Indian stock market ever since the bull market ended less than two months ago is now giving early signs of a U-turn before the Santa rally season begins in December-end. The pace of sell-off decreased to just about Rs 2,500 crore in the second week of the month after the first week saw foreigners decamping with nearly Rs 20,000 crore.

Hindustan Zinc surged 2% to their day’s high of Rs 504.65 on the BSE today after the company on Friday announced that it emerged as a preferred bidder for Dugocha Gold & Associated Mineralization Block. “Via notification dated November 15, 2024, hosted on the mstc ecommerce auction portal, the Company has been declared as 'Preferred Bidder' for Dugocha Gold & Associated Mineralization Block, District Salumber (on highest Final Price Offer of 8.15%),” said the company in a filing to the exchanges.

mutual funds. Flexi cap mutual funds offer the fund managers the freedom to invest across market capitalisations and sectors/themes. It means the fund managers can invest anywhere based on his outlook on the market. Flexi cap schemes are typically recommended to moderate investors to create wealth over a long period of time. Ideally, one should invest in these schemes with an investment horizon of five to seven years. As said earlier, these schemes have the freedom to invest anywhere depending on the view of the fund manager. For example, he or she might invest more in large cap stocks. Or in a bull market she might invest more in mid cap or small cap stocks. Investors should be extremely careful about this aspect. Investors should make sure that they are choosing a scheme that is in line with their risk appetite. For example, some flexi cap schemes may be more conservative than others. It is for you to identify the one that suits your temperament.

buy call on Oil And Natural Gas Corporation (ONGC) with a target price of Rs 330. The current market price of Oil And Natural Gas Corporation Ltd. is Rs 250.9. ONGC, incorporated in 1993, is a Large Cap company with a market cap of Rs 315513.40 crore, operating in Gas & Petroleum sector. Oil And Natural Gas Corporation, key products/revenue segments include Oil Crude, Gas Natural, Naphtha, Ethane, Propane, Butane, Subsidy, Aviation Turbine Fuel (ATF), Other Operating Revenue, LSHS, Electricity, Mineral Turpentine Oil (MTO), HSD, Processing Charges, Others for the year ending 31-Mar-2024.

The BSE Sensex was down 511 points, trading at 77,058, while the Nifty50 was down 162 points, at 23,370 as of 9:46 am.

US dollar in early trade on Monday despite a stronger American currency and sustained outflow of foreign funds. Lower level of crude oil prices in the international market supported the recovery of local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 84.42 and strengthened further to 84.38 against the greenback, trading 8 paise higher from its previous close.

Brainbees Solutions are expected to be in focus today as the Firstcry operator narrowed its consolidated net loss in the quarter ended September 30, 2024 to Rs 50 crore versus Rs 101 crore in the year ago period. The losses were also down from Rs 57 crore from the previous quarter and attributable to the owners of the company.

«So, this is the time to invest in largecaps to start with as of now, maybe some select midcaps which have delivered very strong numbers where visibility is very strong and hold them possibly expecting maybe some more minor dip, but upside being much more than downside,» says Sandip Sabharwal, asksandipsabharwal.com. The why, hum kyu gire hai we know it. Where are we headed and what should one do? Let us address that. Sandip Sabharwal: Kyu gire hai, kyoki hum bahut chad gaye the isliye.

Laurence Balanco, CLSA, says the upside target for Nifty from the structural moves that we have seen historically for the Nifty is over 37,000 as an ultimate upside target towards the end of this decade. Balanco says there is still further upside and that is why they want to look at opportunities to increase exposure. But they are not seeing the evidence to jump back in. Just over 37,000 is the longer term target for the Nifty in this phase of the bull market off the COVID lows. Which is that one asset class or trade that could be a multi-year short? For example, if someone said they would go short in China, three years ago, that turned out to be the trade of the century. What is that one trade you would say that I would remain short? Laurence Balanco: That is a question without notice. It is off the top of my head on a structural basis. In the near term, the most vulnerable market that we have highlighted has been the Euro Stoxx 600. This market peaked in April, May. This year, there was a dip into the August lows. We had a rally back to those April, May highs where we have stalled out and rolled over. So, it does look like a space that relatively underperforms. And then we have also got this potential double top pattern.

«So, consumers and companies need to see the other side of the coin, that is a cut of rates. So, while food inflation is high, I think if there is a December cut, that would provide one of the catalysts,» says Chakri Lokapriya, Managing Partner, RSB LLP What is your view? Are we in for a long winter or we are nearing the end of this decline? Chakri Lokapriya: Nifty is down about 10%. Earnings are down, if you look at the various sectors saw 10% to 15%. And on the other hand, some of the PSU stocks are down 40-50%. So, at that perspective, I do not think there is much downside, but what is clearly needed is some kind of a catalyst for earnings to revive upwards. Now that catalyst can come from RBI rate cut. I know people are talking about it being postponed to February, but RBI has increased rates by about 250 basis points, very short period of time. So, consumers and companies need to see the other side of the coin, that is a cut of rates. So, while food inflation is high, I think if there is a December cut, that would provide one of the catalysts.