Experts Financial News

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HDFC Life on Friday posted a consolidated net profit of Rs 367 crore for the three months ended December 2023. The profit rose 16% from Rs 316 crore clocked in the corresponding period of last year. Net premium income for the third quarter rose 6% year-on-year (YoY) to Rs 15,273 crore.

Zomato, Tata Steel, Tata Power, Axis Bank, and GAIL India were the top five largecap stocks shopped by mutual funds. MF holding in Zomato increased by a sharp 71 million shares month-on-month (MoM) in December, according to a report by PhillipCapital. Shares of the online food delivery aggregator have rallied nearly 19% since December. In 2023, the stock witnessed its longest-ever winning streak since listing, and this one-way run turned it into a multibagger. Tata Power and Tata Steel also saw significant buying by mutual funds. In Tata Steel, their ownership increased by nearly 33 million shares MoM, and in Tata Power, it went up by nearly 25 million shares. In the last one month, shares of Tata Steel have gained over 17%, while those of Tata Power surged nearly 24%. Gail India was another largecap stock heavily bought by mutual funds in December. The public sector natural gas transmission major has given handsome returns of over 28% to investors since December. Three largecap banking stocks also saw an increase in the ownership by MFs. Axis Bank, ICICI Bank, and State Bank of India were among the top 10 largecap stocks bought by them in December. Besides, ITC, Samvardhana Motherson, and Mankind Pharma were also bought by MFs last month.

SME IPO of Australian Premium Solar India was subscribed 39 times so far on the second day of the bidding process. The issue closes on January 15. The IPO is entirely a fresh equity issue of up to 52 lakh equity shares aggregating to Rs 28.08 crore.

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Stock market today: Shares of Paramount Communications Ltd are one of the multibagger stocks delivered by the Indian stock market in recent years. This stock below ₹100 has risen from around ₹36 to ₹98.50 apiece level in the last one year, delivering to the tune of over 150 per cent return to its shareholders in this time.

Tube Investments of India Ltd. traded 1.54 per cent down at Rs 3839.3 at 02:06PM (IST) on Friday, even as BSE benchmark Sensex gained 812.17 points to 72533.35. The stock had settled at Rs 3899.5 in the previous session.

Varun Beverages Ltd. dropped 1.01 per cent to Rs 1264.85 at 02:01PM (IST) in Friday's trade. The stock has hit a high of Rs 1274.0 and low of Rs 1258.95 so far during the session.

Siemens Ltd. gained 0.32 per cent to Rs 4173.7 in Friday's trade. It hit a high of Rs 4199.85 and low of Rs 4115.0 during the session.

Vedanta Ltd. traded at Rs 272.15 on BSE at 01:50PM (IST) on Friday, down 0.89 per cent from previous close. The stock quoted a 52-week low price of Rs 207.85 and a high of Rs 340.75.

Emkay Global Financial Services expects December CPI to come at 5.88 per cent while core inflation, which excludes volatile items like food and fuel prices, may ease to 3.9 per cent. Sujan Hajra, Chief Economist at Anand Rathi Shares & Stock Brokers expects CPI inflation to notch up to 5.72 per cent in December 2023. Global financial firm Barclays estimates that CPI inflation rose modestly in December to 5.6 per cent year-on-year (YoY), driven higher mostly by unfavourable base effects.

Wipro, TCS and HCL Tech traded as the top gainers in the Sensex index. Here are five key factors that appear to have led the Nifty 50 to its fresh all-time high: Most IT stocks jumped to strong gains after the December quarter earnings of TCS and Infosys. The Nifty IT index jumped over 5 per cent to hit its fresh 52-week high of 36,482.25 in morning trade.

Stock market today: After the announcement of the Tata Consultancy Services (TCS) Q3 results on Thursday evening (after market close), TCS share price witnessed an upside swing in the morning session on Friday. TCS share price today opened upside at ₹3,848 apiece level on NSE and went on to touch an intraday high of ₹3,8694 mark within a few minutes of the stock market's opening bell. While climbing to this intraday high, TCS shares logged an intraday gain of over 4 per cent.

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HDFC Asset Management Company with a target price of Rs 3900. The current market price of HDFC Asset Management Company Ltd. is Rs 3425. HDFC Asset Management Company Ltd., incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 72214.17 Crore) operating in Financial Services sector. HDFC Asset Management Company Ltd.

Punjab National Bank(up 1.27 per cent), Bandhan Bank Ltd.(up 0.93 per cent), ICICI Bank Ltd.(up 0.92 per cent), State Bank of India(up 0.88 per cent) and IDFC First Bank Ltd.(up 0.7 per cent) were among the top gainers. Axis Bank Ltd.(down 0.6 per cent) and Au Small Finance Bank Ltd.(down 0.2 per cent) were the top losers on the index.

The NSE Nifty index traded 161.96 points up at 21809.15, while BSE Sensex was up 606.71 points at 72327.89 as of 10:40AM(IST)on January 12. In the Nifty index, Infosys Ltd.(up 7.21 per cent), Tech Mahindra Ltd.(up 4.60 per cent), Wipro Ltd.(up 4.37 per cent), LTIMindtree Ltd.(up 3.90 per cent) and Tata Consultancy Services Ltd.(up 3.77 per cent) were among the top gainers.

State Bank of India with a target price of Rs 800. The current market price of State Bank of India is Rs 626. State Bank of India, incorporated in the year 1955, is a banking company (having a market cap of Rs 556181.82 Crore).

Every property buyer, being a resident individual, is required by law to deduct tax from the amount (price) he pays to the seller. However, where the seller is a tax resident in India, the TDS compliance is applicable only if the sales consideration exceeds Rs 50 lakh.

Canara Bank with a target price of Rs 550. The current market price of Canara Bank is Rs 458.35. Canara Bank, incorporated in the year 1906, is a banking company (having a market cap of Rs 81173.26 Crore).

Infosys Ltd. with a target price of Rs 1750.