Experts Financial News

Itihasa is not bound to one narrative, so is the Ram Mandir, which is not bound to Ayodhya and the hoopla around it. According to experts as many as three hundred versions of the the Indian epic poem, the Ramayana, are known to exist. Even as the some Indians gear up to celebrate the ‘Pran Prathistha’ ceremony in Ram Mandir on 22 January, here are a list of seven grand Ram temples across the country one could visit.

BSE on Wednesday, January 17, a day after the company reported its December quarter results. HDFC Bank share price opened at ₹1,583.85 against its previous close of ₹1,678.95 and soon cracked 6.5 per cent to hit the level of ₹1,570. HDFC Bank on Tuesday reported a 33 per cent jump in its net profit at ₹16,372 crore in Q3 of FY24, as compared to ₹12,259 crore a year ago.

MK Exim (India): The company has declared a bonus issue in the ratio of 1:2. The record date to ascertain the eligibility of shareholders for the bonus issue has been fixed on January 17. In a stock exchange filing, MK Exim (India) Ltd said: “This is to inform you that….the Company has fixed Wednesday, 17 January, 2024 as the "RECORD DATE", for the purpose of ascertaining the eligibility of shareholders entitled for issue of Bonus Equity Shares of the Company in the ratio of 1:2, i.e.

LIC) on Tuesday crossed the listing price of ₹865 for the first time since its shares were listed in May 2022. The stock gained 4.4% to close at ₹892.50 on Tuesday and is on course to cross the initial public offer price of ₹949 per share as investors perceive the insurance giant is cheaper valued compared to its private sector peers. The stock hit an all-time high of ₹900 as the company's market capitalisation rose to ₹5.64 lakh crore, crossing the listing day market value of ₹5.53 lakh crore. «Since the shares are trading below the embedded value, LIC remains in a favorable valuation zone,» said Avinash Singh, senior research analyst- insurance, Emkay Financial Services.

bonds in the coming weeks, capitalising on lower government bond yields that have made borrowing cheaper while tight liquidity and robust credit growth are spurring lenders' demand for funds to meet loan needs. State Bank of India is set to kick off domestic bond issuances for 2024 with the sale of an additional tier-1 (AT-1) bond worth up to ₹5,000 crore. Bidding for the issue would happen on Thursday, people aware of the development said. SBI's AT-1 bond could be priced at around 8.25%, with long-term investors likely to show strong demand, the people said. Meanwhile, Bank of Baroda (BoB) is likely to raise up to ₹5,000 crore soon by issuing 10-year infrastructure bonds, said the people cited above. Canara Bank could also raise up to ₹3,000 crore through the issuance of AT-1 bonds later this month, while Bank of Maharashtra and Central Bank of India are considering the option of raising funds through infrastructure bonds. «We have seen a correction in bond yields which happened since December.

Jindal Power (JPL) Tuesday gave a ₹4,203-crore, all-cash offer for acquiring Lanco Amarkantak Power, topping Adani Power's ₹4,100 crore offer, said people with knowledge of the matter. Last week, JPL sought the bankruptcy court's approval to participate in the sale process of Lanco Amarkantak. On Friday, the Amaravati bench of National Company Law Tribunal (NCLT) directed JPL to submit a plan by Tuesday (January 16) to lenders along with a ₹100-crore bank guarantee.

Stent makers have approached the government demanding creation of a separate subcategory and higher ceiling prices for coronary stents with advanced features. This follows several companies shelving plans to launch their next generation stents after major price cuts by the government. Coronary stents became a part of the National List of Essential Medicines (NLEM) in 2022, which made them more affordable.

The blue-chip NSE Nifty 50 shed 0.29% to 22,032 points. Both the benchmarks rose about 0.1% each to fresh record highs for the third session in a row, before reversing gains. Here's how analysts read the market pulse: «For a sustained upward movement towards the 22,300 level, the index needs to decisively break above the 22,150 mark. On the downside, the immediate support is located at 21,950, and a clear break below this level could trigger further corrections towards the 21,800 mark,» said Kunal Shah, senior technical & derivative analyst at LKP Securities. Jatin Gedia of Sharekhan, said, “Considering the current price and momentum setup we expect Nifty to consolidate within the range 21,900 — 22,200 from a short-term perspective. Stock- specific action and sector rotation are likely during this period of consolidation. Aggressive longs should be avoided and adherence to strict stop loss levels for the long positions is advised." That said, here’s a look at what some key indicators are suggesting for Wednesday's action:

The company registered a revenue of Rs 1,323.3 crore in the quarter under review, marking a 50% year-on-year (YoY) surge from Rs 879.9 crore in the three months ended December 31, 2022. The increase in revenue was led by growth in broking income in the cash segment along with the investment banking segment. «We continue to grow with our focus on the acquisition of quality clients, gaining market share in revenue-generating segments, growing our distribution business, enhancing customer experience and continued investment in enhancing franchise as well as technology.

«For a sustained upward movement towards 22,300 level, the index needs to decisively break above the 22,150 mark. On the downside, the immediate support is located at 21,950, and a clear break below this level could trigger further corrections towards the 21,800 mark,» said Kunal Shah, senior technical & derivative analyst at LKP Securities. Here are 2 stock recommendations for Wednesday: Buy BSE at Rs 2,317-2,320 Target Price: Rs 2,450 Stop Loss: Rs 2,250 BSE is seen to be breaking out of a pattern formation and making a bullish candlestick on the daily timeframe, which indicates strength.

Karma Energy Ltd.(up 4.98%), GE T&D India Ltd.(up 3.99%), Power and Instrumentation(Gujarat)Ltd.(up 2.38%), Kalpataru Projects International Ltd.(up 2.34%), Indowind Energy Ltd.(up 1.83%), KEC International Ltd.(up 0.74%), Voltamp Transformers Ltd.(up 0.42%) and Hitachi Energy India Ltd.(up 0.29%) stood among the top gainers. Jyoti Structures Ltd.(down 5.02%), Indo Tech Transformers Ltd.(down 5.00%), Jaiprakash Power Ventures Ltd.(down 4.71%), Suzlon Energy Ltd.(down 4.11%), RattanIndia Power Ltd.(down 3.73%), KPI Green Energy Ltd.(down 3.34%), Inox Wind Ltd.(down 2.95%), SJVN Ltd.(down 2.59%), Orient Green Power Company Ltd.(down 2.56%) and Inox Wind Energy Ltd.(down 2.47%) were among the top losers of the day.

Tata Technologies, a marquee entrant to the bourses in recent times, will announce its quarterly results for the first time since listing on January 25. «A meeting of the Board of Directors of Tata Technologies is scheduled to be held on January 25, 2024, to consider and approve the audited standalone and consolidated financial results for the quarter ended December 2023,» the company said in a filing. For the six months ended September period, the company's total income rose 35% year-on-year (YoY) to Rs 2,587 crore and net profit was up 36% to Rs 352 crore in the same period. The company derives significant revenues from its top 5 clients (73% in FY23) including Tata Motors. Over FY 21-23, Tata Tech's revenue, EBITDA, and net profit grew at a CAGR of 36.2%, 45.9% and 61.5%, respectively. Return ratios – RoE and RoIC improved by 971 bps (to 20.9%) and 308 bps (to 36.3%) in FY23. The IPO from the Tata Group company was lapped up by investors with overwhelming interest.

The pre-owned category is a growing segment in the country that is being driven by consumers' desire to own rare and unique products and be more sustainable in their purchases. In addition, with the growing influence of western fashion trends and the rise of disposable income, consumers are looking at buying exclusive pieces that are easily available.

On the BSE, Northern Spirits(down 14.14 per cent), Angel One(down 14.10 per cent), PM Telelinks(down 13.33 per cent), City Crops Agro(down 12.57 per cent) and Umiya Tubes Ltd.(down 10.00 per cent) stood among the top losers in today's trade. In the Nifty pack, 16 stocks closed in the green, while 34 stocks ended in the red.

Reserve Bank extended the new rules on loan account penalty charges to banks and non-bank financial companies (NBFCs) for three more months, until April 1, 2024, as part of fair lending practice. As a result, regulated entities, such as banks and NBFCs, have been required to guarantee that the directions be followed for any new loans obtained beginning April 1, 2024. In the case of existing loans, the RBI stated that the transition to the new punitive charges regime should occur on or after April 1, 2024, but no later than June 30, 2024.

Shares of Biocon Ltd.(up 2.32 per cent) and Alkem Laboratories Ltd.(up 0.46 per cent) ended the day as top gainers in the pack. On the other hand, Aurobindo Pharma Ltd.(down 2.68 per cent), Divi's Laboratories Ltd.(down 2.44 per cent), Glenmark Pharmaceuticals Ltd.(down 2.34 per cent), Pfizer Ltd.(down 2.11 per cent) and Natco Pharma Ltd.(down 1.97 per cent) finished as the top losers of the day.

Shares of Sobha Ltd.(up 2.79 per cent), Mahindra Lifespace Developers Ltd.(up 0.32 per cent) and Brigade Enterprises Ltd.(up 0.28 per cent) ended the day as top gainers in the pack. On the other hand, Macrotech Developers Ltd.(down 2.86 per cent), Oberoi Realty Ltd.(down 2.72 per cent), DLF Ltd.(down 2.31 per cent), Prestige Estates Projects Ltd.(down 2.31 per cent) and Phoenix Mills Ltd.(down 1.38 per cent) finished as the top losers of the day.

Ministry of Ports, Shipping, and Waterways (MoPSW) has constituted a high-level task force to oversee the establishment of the Indian Maritime Centre (IMC), in a bid to build global credibility for the Indian maritime sector. The main objective of the task force is to provide policy direction for the formation of IMC for smooth and sustainable operationalisation, the ministry said in an office memorandum.

Shares of IDFC First Bank Ltd.(up 1.79 per cent), Au Small Finance Bank Ltd.(up 0.46 per cent), HDFC Bank Ltd.(up 0.38 per cent), Bank of Baroda(up 0.07 per cent) and Punjab National Bank(up 0.06 per cent) ended the day as top gainers in the pack. On the other hand, Federal Bank Ltd.(down 2.13 per cent), IndusInd Bank Ltd.(down 1.3 per cent), Bandhan Bank Ltd.(down 0.55 per cent), State Bank of India(down 0.5 per cent) and Kotak Mahindra Bank Ltd.(down 0.19 per cent) finished as the top losers of the day.

rupee snapped a nine-day winning streak on Tuesday, pressured by a broadly stronger dollar and a risk-off in regional markets amid high inflationary pressures continuing to cloud the interest rate outlook. The rupee ended at 82.07 to the U.S. dollar compared with its previous close at 82.88. The currency fell 0.2% on the day, marking its worst single-day fall since Sept.

Market highlights: Sensex sheds 200 pts, Nifty near 22,050 at close; IT, realty down Even though analysts have been warning about uncertainty on interest rate trajectory due to inflation being higher than central banks' targets, the market is already considering the possibility of rate cuts this year. Some analysts suggest that if rate cuts happen, they might not be significant but rather modest. The domestic market spent most of the day in negative territory on Tuesday, but it experienced a brief upswing during the session, propelling the benchmarks to achieve new record highs.