Experts Financial News

Canada’s largest bank says the country’s mortgage market will not change significantly in the wake of its acquisition of HSBC Holdings Plc.’s operations here, but industry watchers aren’t as sure.

India's exports to Australia have increased by 14 per cent to USD 5.8 billion in April-November this fiscal on account of healthy growth in various sectors like engineering, pharma and electronics, a senior official said on Friday. Additional Secretary in the Department of Commerce Rajesh Agrawal said businesses of India and Australia are gaining from the interim free trade agreement, implemented on December 29 last year. He also said negotiations to widen the existing trade agreement into a comprehensive deal are «progressing well».

Also Read- Tata Consumer becomes sixth Tata Group stock to surpass ₹1 lakh crore market cap The broader markets too have not only seen handsome gains during 2023 but outperformed the benchmark with Nifty Mid cap index gaining more than 50%. PFC, REC IRFC with gains of more than 200% were biggest mid cap gainers. Nifty Bank rose for the third consecutive year but relatively underperforms, up 12.34%.

Nearly a year after it came into effect, experts say it’s hard to know if Ottawa’s plan to keep foreign homebuyers out of the national housing market is helping affordability for Canadians.

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₹6.87 per litre for the 2023-24 supply season that started in November, marking the highest rise in over five years. The hike, announced by the oil ministry on Friday, sets the new price at ₹56.28 per litre, an increase from the previous season's ₹49.41 per litre. The move is aimed at enhancing ethanol production for blending with petrol.

UltraTech Cement, ACC, Shree Cements, Ambuja Cements, Ramco Cements and Dalmia Bharat ended 2-6% higher for the week. Benchmarks Nifty 50 and Sensex gained up to 2% each, testing record highs during the week. “We upgrade our view on India’s cement industry on account of potential stronger sales volume growth, better pricing discipline, and roll forward our valuations to FY26F,” Nomura India said in a note to its clients on Wednesday. Demand between Oct-Mar is likely to be 11% higher as compared to Apr-Sep, and 13% higher as compared to the same period the previous year, the brokerage said, raising target prices for the companies under its coverage by 11-28%. Shares of most of these companies, except for ACC and Ambuja, have had a strong run in 2023, gaining between 23-51% so far in the year helped by demand from infrastructure and housing projects. Sales volume for the industry is likely to grow at a compounded annual growth rate of 5% between 2023-26 (Apr-Mar), a 100 basis points higher than the 4% growth seen over the last decade, the brokerage said.

During the Q2 earnings call, Vi’s chief executive Akshaya Moondra told analysts that the telco expected to conclude its discussions relating to (funding from potential) equity investors in this quarter (Q3FY24). He had added that Vi’s talks with banks had already happened and that the current focus is on tying up the equity investment, basis which the banks would process the telco’s requests for bank funding. Shares of Vi jumped 21% to close at Rs 16.02% on BSE Friday. For the past three years, Vi has been struggling to raise funds needed to pay its large vendors like Indus and the government, expand its 4G coverage and also invest in its pending 5G rollout to compete effectively with bigger rivals Reliance Jio and Bharti Airtel. Back in August, Moondra, had told the Department of Telecommunications (DoT) that the company had made significant progress in its ongoing talks with several groups of investors to raise equity and equity-linked capital and had term sheets from some potential investors.

Also Read: Budget 2024: 10 experts share what they expect from the coming Budget According to Deloitte India, the upside risks in the current environment include strong economic growth, robust spending on infrastructure and recovery in the MSME sector. On the contrary, the downside risks include a rise in inflation, election uncertainties, geopolitical concerns and diverging demand gaps. “India will have to rely on its own domestic demand to drive its growth, specifically, private consumption and investment spending.

South Korea's defense minister said, amid suspicions that the North may use it as a new source of fissile materials for nuclear weapons. Concerns about North Korea's nuclear program deepened recently as the UN atomic agency and foreign experts said they've detected signs indicating that North Korea had begun operating its light-water reactor at the Yongbyon nuclear complex. IAEA Director General Rafael Grossi said last week that his agency had observed increased levels of activity at and near the reactor and since mid-October, a strong water outflow from its cooling system.

stock market has delivered in recent few months. This non banking financial company or NBFC stock has risen from around ₹49 apiece levels to ₹163 per share levels, ascending to the tune of 235 per cent in this time. This multibagger stock has delivered stellar 45 per cent return to its shareholders as well.

stocks witnessed a build of fresh short positions. Lets first understand how this conclusion is reached that whether the stock has seen a buildup of fresh short position or not. To understand it we have to look at what “ short selling” means.

Gaurav Bissa, VP, InCred Equities, says, “going forward, largecaps, especially larger banks like Kotak Bank and HDFC Bank will drive the markets going forward. So, the view remains positive. It is a buy-on-declines market. But the kind of move that we have seen from lower levels of 15,000 to higher levels of almost 22,000 that might not get repeated. But the overall sentiment will remain positive.” With 2023 coming to an end and markets gaining close to around 20% in this calendar year, what is your target for 2024 for Nifty? Gaurav Bissa: Our targets for mid-2024 were 21,000-21,500, those have been surpassed ferociously in 2023 itself. And now, I do not see we can have a similar kind of upside where in six months we can have 2,000-3,000 points coming in, even more than that. But yes, more towards 22,500 cannot be ruled out on the higher end. 20,000 is where Nifty can head towards. And largecaps will now take a front seat at least for next few months, where we have seen a very robust upside in midcaps and smallcaps.

Innova Captab made a tepid debut on the exchanges on Friday, listing just 2% above the issue price. The lackluster debut performance fell way short of expectations, which highlights the potential risks associated with the highly competitive market, regulatory environment, and currency fluctuations. However, the stock jumped 20% post the listing to hit the upper circuit. Innova Captab has some core strengths, including a strong market position, robust financials, and strategic growth initiatives. «Given the uncertain outlook, a cautious approach is warranted, and investors may exit their position; however, those who want to hold it should maintain a stop loss at the issue price,» said Shivani Nayti, Head of Wealth, Swastika Investmart. The IPO of Innova Captab received tremendous response from investors with 55.26 times subscription at close. The issue received bids of 50,16,58,245 shares against the offered 90,78,010 shares. Innova Captab is an integrated pharmaceutical company in India with a presence across the pharmaceuticals value chain including research and development, manufacturing, drug distribution, and marketing and exports. Its business includes CDMO business providing research, product development and manufacturing services to Indian pharmaceutical companies, a domestic branded generics business and an international branded generics business. The number of CDMO products sold by the company has grown by 131.43% from 1,066 in FY21 to 2,467 in FY23.

Gold price may touch ₹67,000 in 2024 on the rise in demand. Should you buy? Mint collected the views of several experts regarding their opinions on gold's prospects in 2024. Here's what they said: Gold is a good investment option currently given the expectation of a prolonged two to three years rate cut cycle and consequent dollar weakness.

Lupin Ltd. dropped 1.28 per cent to Rs 1322.15 at 01:39PM (IST) in Friday's trade. The stock has hit a high of Rs 1342.0 and low of Rs 1319.0 so far during the session.

Bank of Baroda traded at Rs 230.2 on BSE at 01:49PM (IST) on Friday, down 1.2 per cent from previous close. The scrip quoted a 52-week low price of Rs 146.5 and a high of Rs 233.6. Earlier, the stock saw a gap up opening in the morning.

ICICI Lombard General Insurance Company Ltd. fell 1.14 per cent to Rs 1420.0 at 01:54PM hours (IST) on Friday. Earlier in the day, the stock saw a gap down start to the session.

Here is a look at these income tax changes and how they will impact you in 2024. 1. New tax regime income tax slabs changed: To make the new tax regime more attractive, income tax slabs under this regime were changed. Income tax slabs for FY2023-24 under the new tax regime are as follows:

Tata Motors share price has doubled in 2023, making it the only stock in the Nifty 50 index to achieve this feat this year. Tata Motors share price opened at ₹755 against the previous close of ₹753.90 and jumped 6.5 per cent to hit its fresh 52-week high of ₹802.90 on the NSE in an otherwise weak market. With this, the stock's year-to-date gain surged to 107 per cent.