Experts Financial News

Mongolian coking coal by way of Russia, a senior government official with direct knowledge of the matter said, as New Delhi seeks to avoid over-reliance on transit through China. Mills in India, the world's second-biggest producer of crude steel, grappled with volatile Australian supplies of coking coal last year, and the government sent delegations to Mongolia in an effort to diversify sources of the fuel. Despite a longer route, Indian steel companies will now consider importing Mongolian coking coal by way of Russia, said the official, who spoke on condition of anonymity, as the deliberations are not public.

Allied Blenders and Distillers Limited (ABDL), the third largest spirits company in India, has partnered Roust Corporation, one of the largest vodka producers in the world to launch Russian Standard Vodka in India. The new strategic distribution agreement underscores ABDL's wider strategy of offering premium and luxury products to Indian consumers. Russian Vodka is the largest selling vodka in Russia with 30% market share in the premium category and is exported to over 85 countries. ET was the first to report the development on 12 August this year. The strategic arrangement between ABDL and Roust Corporation leverages the strengths of both companies. ABDL's distribution network and consumer marketing expertise will complement Roust Corporation’s globally renowned vodka premium portfolio namely Russian Standard Original, Gold and Platinum, it said in a statement.

JP Morgan has initiated coverage on Ultratech Cement and 3 other cement stocks with an upside potential of up to 31% on the belief that the sector is set for consolidation with the larger players likely to become more aggressive. “India cement sector looks set for consolidation with the larger players turning aggressive,” said JP Morgan in its note.

Lieutenant Governor Manoj Sinha on Monday said security forces will avenge the construction workers' death in the brutal attack in Ganderbal, and «exact a price» that the terrorists will remember for the time to come. Sinha called for justice to the victims as he blamed Pakistan for «still trying to kill innocent people» in the region to disrupt peace. Seven persons including a local doctor and six non-local labourers were killed while five others sustained injuries in a terror attack at an under-construction tunnel at Gund in Ganderbal district. In a post on X, Sinha said, «The brutal and savage attack against construction workers will be avenged. I've asked the J&K Police, security forces to exact a price that will be remembered by the terrorists and their associates for time to come.»

Losses for the July-September 2024 period are likely to widen up to Rs 660 crore from Rs 290 crore in the same period of last year. Meanwhile, revenue from operations is seen growing up to 16% year-on-year (YoY).

Kunal Kamra has once again found himself in a spat with Ola- this time for highlighting troubling allegations regarding Ola’s service practices. In a recent post on X (formerly Twitter), Kamra shared an incident that allegedly took place at an Ola service centre, drawing attention to the behaviour of the company's bouncers. «Hey @bhash You’ve sold such an innovative indian product you’ve had to hire bouncers to protect the staff,» Kamra wrote in his post on X, tagging CEO Bhavish Aggartwal.

Marico Ltd. slipped 1.09 per cent to Rs 661.85 in Monday's trade as of 01:28PM (IST). The stock hit a high price of Rs 669.35 and low of Rs 658.35 during the session.

Germany is focusing on attracting skilled workers from India, following new migration measures recently approved by Chancellor Olaf Scholz’s Cabinet. The move aims to streamline immigration processes and support the integration of Indian workers, addressing the critical workforce gaps caused by an ageing population. Germany, known for having the strongest economy in the European Union, faces increasing pressure to secure skilled labour to maintain economic momentum. Hubertus Heil, the German Labour Minister, emphasized India’s importance, saying, «Germany views India as an especially important partner when it comes to the issue of skilled labour migration.» The newly approved migration framework underscores the deepening economic relationship between Germany and India. With a focus on long-term economic sustainability, the German government aims to attract qualified Indian professionals across various sectors to address workforce gaps.

real estate sector increased 31 per cent year-on-year to USD 4.61 billion in January-September 2024 amid strong consumer demand, according to Vestian. Real estate consultant Vestian on Monday released its report on 'Investment in Indian Real Estate', observing that funds' inflow from institutional investors in the first nine months of 2024 has already surpassed the total for 2023. «Investors have shown confidence in India's growth story on the back of robust GDP growth. As a result, the real estate sector witnessed increased participation from foreign investors which led to institutional investments touching a billion mark in Q3 2024,» Shrinivas Rao, CEO of Vestian said. He noted that domestic investors are also actively participating, supported by the rapid infrastructure development across the country.

Most technical and derivatives indicators point towards a consolidation this week, with markets likely to be further driven by quarterly earnings, FII flows, geo-politics, and global market sentiments, Aamar Deo Singh, Senior Vice President-Equity, Commodity & Currency at Angel One said. This analyst spells-out strategy in previous week’s major movers viz. Bajaj Auto, Avenue Supermarts (DMart), Adani Green Energy and three more stocks. Excerpts: A lackluster beginning after a poor show in the previous week where Nifty ended with weekly declines of 0.44%. What does the chart indicate about its trajectory and what are the important levels for Nifty and Bank Nifty? Markets witnessed choppy trading sessions last week with the benchmark index Bank Nifty saving the day. A sharp rally in ICICI Bank, Axis Bank, SBI and HDFC Bank helped in the benchmark indices recover from the lows of the week with Nifty ending lower with weekly decline of 0.44% whereas Bank Nifty ended the week in the green, up 1.8% WoW.

https://x.com/FlockerzToken/status/1840049282889724227

Dandwate, a consultant to sports carmakers such as McLaren at the time, decided to apply his experience with race cars to health care. He and a fellow engineer began working on a project to use the kinds of sensors used in Formula 1 cars that can monitor body’s micro-vibrations to map health metrics in non-intrusive ways at hospitals. “We use a lot of sensors, analytics, artificial intelligence to assess the health of a car.” Dandwate, 33, told Bloomberg News in an interview. “And that’s where my race car-engineering background helped, because we used some of the same methods to develop a sensor-based contactless patient monitoring system.”

credit market is growing so fast that a rush of new participants into the direct-lending sector is fueling concern about a weakening of lending standards. “We have seen a bunch of first-time managers raise a lot of local capital,” Indranil Ghosh, head of Pan-Asia special situations at Cerberus, said at the Bloomberg India Credit Forum in Mumbai on Friday. “With some of those managers, I suspect that the underwriting standards, the diligence standards, the structuring, covenants are slightly lighter than what a lot of the global firms and well-established domestic institutions are used to.” Also Read: RBI may act against more NBFCs to check obscure lending practices: Morgan Stanley

Congress president Mallikarjun Kharge on Monday claimed that the BJP is the «biggest enemy» of Maharashtra's farmers and asserted that the state has decided that farmers will benefit only by removing the double engine government from power. In a post in Hindi on X, Kharge slammed the BJP over farmer suicides in Maharashtra and said the promise of making the state drought-free is a «jumla» (rhetoric). «BJP is the biggest enemy of Maharashtra's farmers. 20,000 farmers committed suicide. Huge cut in funding in farming. Promise of Rs 20,000 crore water grid turned out to be false. Promise of making Maharashtra drought-free is a 'Jumla',» he said. Kharge also attacked the BJP over its «refusal to give compensation to the farmers» while insurance companies are being showered with Rs 8000 crore.

National Payments Corporation of India (NPCI), UPI is an instant real-time payment system for facilitating inter-bank transactions through mobile phones. Muizzu on Sunday set up a consortium to introduce UPI in the country and appointed TradeNet Maldives Corporation Limited as its leading agency, according to a press release by the President's Office. The president also suggested the participation of the country's banks, telecom companies, state-owned companies and fintech companies in the consortium.

Cholamandalam Investment & Finance Company Ltd. traded 0.51 per cent down at Rs 1454.0 at 11:55AM (IST) on Monday, even as BSE benchmark Sensex dropped 171.78 points to 81052.97. The scrip had closed at Rs 1461.55 in the previous session. The stock quoted a 52-week high price of Rs 1650.0 and 52-week low of Rs 1011.5, respectively. As per BSE data, total traded volume on the counter till 11:55AM (IST) stood at 5591 shares with a turnover of Rs 0.82 crore.

U.S. military has rushed its advanced anti-missile system to Israel and it is now «in place», Defense Secretary Lloyd Austin said. THAAD, or the Terminal High Altitude Area Defense system, is a critical part of the U.S. military's layered air defense systems and adds to Israel's already formidable anti-missile defenses. «The THAAD system is in place,» Austin said, speaking to reporters before his arrival in Ukraine on Monday.

mutual funds attracted around Rs 30,350 crore inflows during April to September of the current financial year. The continuous inflows in these categories were mainly due to high returns offered by these categories. According to the Association of Mutual Funds in India (AMFI), mid and small cap funds received inflows of Rs 32,924 crore during the same time a year ago. “Investments in mid and small cap funds should be made based on one’s risk appetite. It is important for investors to note that mid and small cap segments are highly volatile. While they can give exceptionally high returns in up markets, they can fall equally hard in down markets. Therefore, investors should take exposure in these funds in line with their risk appetite and invest only with a long-term investment horizon,” said Melvyn Santarita, Analyst – Manager Research, Morningstar Investment Research India

Babri Masjid land dispute. Raj stated that if the Chief Justice had prayed for resolving other pressing concerns, such as ordinary citizens getting justice without financial burdens or the misuse of agencies like the Enforcement Directorate (ED), Central Bureau of Investigation (CBI), and Income Tax Department (IT), these issues might have also been addressed. This comes after CJI Chandrachud on Saturday had said that he sat before God (in his home) and asked him to find a solution to the vexed Ram Janmabhoomi- Babri Masjid dispute when the case came up before a bench led by Justice Ranjan Gogoi in which Chandrachud was one of the justices.

Voltas Ltd. traded at Rs 1859.45 on BSE at 11:36AM (IST) on Monday, down 0.29 per cent from previous close. The scrip quoted a 52-week low price of Rs 806.9 and a high of Rs 1946.2.

Bajaj Finance is expected to report a net interest income in the range between Rs 8,810 crore and Rs 9,187 crore for the quarter ended September 30, 2024 according to estimates by five brokerages. This is likely to be an uptick of 24-28% over the corresponding quarter of the previous financial year. The profit after tax (PAT) in the July-September quarter could be around Rs 4,030 crore to Rs 6,083 crore.