Experts Financial News

bond yields fell to their lowest levels in almost four months on Monday, pushing down borrowing costs across the economy, as a lower-than-expected rise in India's inflation and rising US bonds bolstered market sentiment. Yields and bond prices move in opposite directions. The 10-year benchmark government bond yield — a pricing reference for a host of credit products — ended trade at 7.152% on Monday, its lowest closing level since September 26, Bloomberg data showed.

Fund managers continue to bet on a private sector capex revival in the coming year, as the BJP’s strong show in the state elections in December has reduced political uncertainty and raised hopes of policy continuity. According to the recent data published by project-tracking database research fi rm Centre for Monitoring Indian Economy (CMIE), a total of `2.1 lakh crore worth of new projects have been announced in India in the December quarter.

Reserve Bank of India (RBI) to give some relief to mainstream banks and development financiers on downstream loan-linked Alternative Investment Fund (AIF) exposures, which they were required to either liquidate by later this week or totally provide for in compliance with the central bank’s December 19 prudential directive. Non-banking financial companies (NBFC), however, are unlikely to be provided any relief by the RBI, with industry sources saying the primary goal of the original directive was to de-risk AIF exposures of NBFCs with downstream loan relationships with AIF beneficiaries, and prevent potential evergreening of doubtful advances to struggling corporates. “The RBI is unlikely to provide NBFCs exemptions on compliance, but banks and other financial institutions are likely to get relief,” said a banking industry source close to the development. January 18 is the liquidation deadline for under-scanner AIF exposures by banks, NBFCs, and development financial institutions (DFI), which primarily advance funds to MSMEs. A spokesperson at the RBI did not respond to ET’s requests for comment. Data compiled by the capital-markets regulator, the Securities and Exchange Board of India (Sebi), showed that funds raised by AIFs have risen to Rs 3.74 lakh crore by the end of FY23, from Rs 2.30 lakh crore in FY20.

₹250 crore in case of a data breach. For the average user, the rules put in place rights to access their information by any entity, withdrawal of consent, and enable mechanisms to correct or erase personal data and mechanisms of redressal in cases of breach. Legal experts pointed out that proposed rules may increase compliance burden, since companies already have to report breaches to the Indian Computer Emergency Response Team (Cert-In), the government agency that coordinates cybersecurity efforts, within six hours.

NEW DELHI : New Delhi and Tehran discussed the spate of Houthi attacks on shipping vessels in the Red Sea during external affairs minister S. Jaishankar’s visit to Iran, said India’s foreign ministry. “As you are all aware, recently there has also been a perceptible increase in threats to the safety of maritime commercial traffic in this important part of the Indian Ocean.

Considering the upper price band of Rs 331, the stock is expected to list at a premium of 12% However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly. «The company has carved a niche with its diverse product range and tailored solutions. However, financial hiccups, including past losses and a negative return on equity, cast a shadow on Jyoti's otherwise attractive profile.

Max Healthcare Institute, Tata Motors, Hindalco Industries, HDFC AMC, L&T Technology Services. However, it has removed Ashok Leyland / HDFC Life Insurance from the model portfolio and the maximum weight cut has been in Avenue Supermarts, Hindustan Unilever and TCS.

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Jio Financial Services on Monday reported a 56% sequential fall in consolidated net profit for the quarter ended December 2023 to Rs 294 crore. Consolidated revenue from operations fell nearly 32% from the previous quarter to Rs 413.61 crore. Total expenses for the December quarter were Rs 98.95 crore compared with Rs 71.43 crore in the September quarter. The total tax outgo for the quarter was Rs 88 crore compared to Rs 86.3 crore in the preceding quarter. The consolidated earnings of Jio Financial include that of its subsidiaries, associates, and joint ventures.

«The setup for 2023 was very powerful as its previous calendar year witnessed only 10 new 52-week highs, while for 2024, its previous calendar year saw a staggering 29 new 52-week highs. Today markets opened at new lifetime highs marking the second new lifetime high in just 15 days of calendar year 2024,» said Paras Matalia of SAMCO Mutual Fund. While shares of heavyweight RIL (Reliance Industries) have been giving support to Nifty with 8% upside in just 4 trading sessions, the rally in 2024 has been largely led by uptick in the IT index with growing optimism about increased discretionary spending and strong deal wins. «The US bond yield edged lower as market participants bet on the Fed easing cycle, which is expected to start in March. Investors are likely to take a more measured approach due to the release of Chinese GDP and UK inflation data this week,» Vinod Nair, Head of Research, Geojit Financial Services, said. After buying Indian equities worth over Rs 66,000 crore in December, foreign institutional investors or FIIs have been net buyers to the tune of Rs 11,000 crore in the first two weeks of the calendar year. While anticipated rate cuts this year are expected to further fuel the rally till the Lok Sabha elections, analysts warn of intermittent volatility especially due to Budget and occasional profit booking. «The recent upswing warrants a certain degree of caution as, many times, such sharp rallies do not sustain. Thus, we believe that the near-term view will be cautious and suggest profit booking in areas of exuberance, especially in the smallcap space,» Pranav Haridasan, MD and CEO at Axis Securities.

₹24,69,500 crore as of December 31, 2023, registering a growth of around 62.4 per cent over ₹15,20,500 crore as of December 31, 2022. Domestic retail loans jumped 111 per cent year-on-year (YoY), and around 3 per cent quarter-on-quarter (QoQ). Commercial and rural banking loans grew by 6.5 per cent and corporate and other wholesale loans (excluding non-individual loans of the erstwhile HDFC Limited) grew by 2 per cent sequentially.

Avenue Supermarts, which operates the retail chain of DMart, has failed to impress investors with its Q3 FY24 earnings, as the company's shares in today's trading session ended with a modest 0.37% gain at ₹3,855 apiece. The company released its Q3 FY24 (third quarter) numbers on Saturday (January 13), posting a 17.2% YoY growth in its consolidated revenue from operations at ₹13,572 crore, as compared to ₹11,569 crore in the same period last year.

Shares of Wipro Ltd.(up 6.27 per cent), HCL Technologies Ltd.(up 3.08 per cent), Infosys Ltd.(up 2.44 per cent), Tech Mahindra Ltd.(up 2.27 per cent) and LTIMindtree Ltd.(up 1.26 per cent) ended the day as top gainers in the pack. On the other hand, MphasiS Ltd.(down 2.01 per cent) and L&T Technology Services Ltd.(down 0.45 per cent) finished as the top losers of the day.

On a month-on-month basis, the pace of redemptions spiked by 48.9% to reach Rs 38,900 crore in December taking net inflows to Rs 17,700 crore during the month. It was a marginal uptick from Rs 16,900 crore in November 2023. Notwithstanding the trend, the domestic MFs’ equity asset under management (AUM) rose for the 10th consecutive year to reach Rs 23.8 lakh crore, which was up 43% YoY in CY23.

Benchmark NSE Nifty closed 202.91 points up at 22097.45 amid buying in frontline bluechip counters. However, stocks such as M K Proteins, Digidrive Distributo, SKS Textiles, Raj Rayon and Happy Forgings, touched their fresh 52-week lows.

Shares of HDFC Bank Ltd.(up 1.93 per cent), Federal Bank Ltd.(up 1.23 per cent), State Bank of India(up 1.03 per cent), Kotak Mahindra Bank Ltd.(up 1.0 per cent) and IndusInd Bank Ltd.(up 0.89 per cent) ended the day as top gainers in the pack. On the other hand, Au Small Finance Bank Ltd.(down 2.07 per cent), IDFC First Bank Ltd.(down 0.46 per cent) and Axis Bank Ltd.(down 0.08 per cent) finished as the top losers of the day.

BSE Midcap and Smallcap indices also hit their fresh record highs of 38,162.37 and 44,871.58 respectively during the session. The BSE Midcap index finally closed with a gain of 0.67 per cent at 38,129.88 while the Smallcap index closed at 44,552.34, up 0.11 per cent. Also Read: Nifty 50 takes just 26 days to jump from 21k to 22k; Tata Consumer, Bajaj Auto, Wipro jump up to 21% in this period The overall market capitalisation of the firms listed on the BSE rose to nearly ₹376.1 lakh crore from nearly ₹373.3 lakh crore in the previous session, making investors richer by about ₹2.8 lakh crore in a single session.

By Makiko Yamazaki, Brigid Riley and Anton Bridge

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