Experts Financial News

Indian rupee inched up on Wednesday, supported by strength in some of its Asian peers, but gains on the local unit are likely to be limited on dollar buying interest from local oil companies and importers. The rupee was at 83.15 against the U.S. dollar as of 10:15 a.m.

Swan Energy Ltd.(up 1.76 per cent), Sobha Ltd.(up 1.08 per cent), Phoenix Mills Ltd.(up 0.64 per cent), Prestige Estates Projects Ltd.(up 0.6 per cent) and Brigade Enterprises Ltd.(up 0.56 per cent) were among the top gainers. Oberoi Realty Ltd.(down 0.22 per cent) and DLF Ltd.(down 0.07 per cent) were the top losers on the index.

Shriram Finance Ltd. rose 1.68 per cent to Rs 2094.35 at 10:31AM hours (IST) on Wednesday. Earlier in the day, the stock saw a gap up start to the session.

Crompton Greaves Consumer Electricals Ltd. rose 2.78 per cent to Rs 304.4 in Wednesday's trade as of 10:36AM (IST) even as the benchmark Nifty ruled at 21555.45, up 102.35 points. The scrip had closed at Rs 296.15 in the previous session.

Coforge Ltd, part of the IT industry, breaks out from an inverted Head & Shoulder pattern on the weekly charts which has opened room for the stock to head towards 7000 levels, suggest experts. The stock rose by about 10% in a week which helped the stock to break out from an Inverse Head & Shoulder pattern on the weekly charts. The neckline of the pattern was placed around 6100 levels. After breaching the neckline of the inverse head & shoulder pattern earlier in December placed at 6100 levels the stock hit a fresh record high of Rs 6528 on 19th December 2023. The stock has been in an uptrend after hitting a low above 4700 levels in October 2023.

After a sharp rally in the mid cap and small cap stocks, it’s obvious to expect that large caps will see a churn and play catch up. However, this may not always be the case, believes Devendra Singhal, executive vice president and fund manager, Kotak Mutual Fund. “This is the general view currently that large caps should tend to do better than the midcaps and small caps, and we largely abide by this view, but would say that money would chase growth rather than chasing largecaps/smallcaps or midcaps,” Singhal said in an interview with ETMarkets. Edited excerpts: How has the year 2023 largely been for the funds managed by you? The year has been excellent so far in terms of the fund’s performance. All the funds managed by me are in the top quartile since the start of the calendar year. We would endeavour to continue delivering such performance in the coming year as well.

Satin Creditcare Network with a target price of Rs 330. The current market price of Satin Creditcare Network is Rs 269.2. Satin Creditcare Network Ltd., incorporated in the year 1990, is a Small Cap company (having a market cap of Rs 2625.86 Crore) operating in NBFC sector.

portfolio after husband Rakesh Jhunjhunwala's death last year, has seen at least three stocks giving multibagger returns in 2023 while most of the profits came from 5.4% holding in Titan. Going by the September quarter shareholding pattern of listed companies Jhunjhunwala owned 25 stocks, the value of which has grown 14% this quarter to Rs 39,000 crore. Details are available only of companies where the ace investor owned at least 1% stake. An analysis of his portfolio shows that the investor's best performing stock is Tata Motors DVR which is up 138% so far in the calendar year.

Rohit Kapoor, CEO, Food Marketplace, Swiggy, says” India is not one and there are consumers who look for different features, different benefits. The pocket hero for the value conscious consumer was launched in Gurgaon, but now it has been scaled up to other cities as well. There are multiple initiatives. We keep listening to consumers, trying to figure out what they are looking for and also sometimes inserting things which they may not be looking forward to but we are excited about and which we believe will be big in the future.” My eyes almost popped out at some of the interesting findings that you guys had for the year gone by, 207 pizzas in a single day in Jhansi and I am sure the trends have been pretty marvellous! Anything that has really caught your eye? Anything that will continue into 2024? Being a Calcutta boy what caught my eye was that in Durga Puja Gulab Jamuns trumped Rasgulla, that was a little surprising coming from Calcutta and growing up there. I think two-three things are becoming very strong. One is there is a clear fusion of the modern and the traditional. So, in small towns we see hot dogs selling for example whereas samosas are right up there next to each other and so many such examples. So, India is traditional in food. There is a lot of joy in discovering what we have and also experimenting around the edges quite a bit.

Rashmika Mandanna 'Deep Fake' video: What are deep fakes and how to spot them? Experts share tips Earlier on November 24, the case hit a dead end as social media platforms said they were unable to give information about the individual(s) who allegedly made the deepfake profiles. Sources told ANI the accused either removed or deleted their account from social media platforms. Officials said the account could have been created with a fake identity and using a Virtual Private Network (VPN) to upload the deepfake videos.

The financial sector's battle against fraud requires a dynamic and multi-faceted approach. As technology continues to advance, so do the tactics of fraudsters seeking to exploit vulnerabilities in the financial sector. The financial sector faces escalating threats in 2024, including deepfake fraud, phishing 2.0, blockchain exploitation, insider threats, and AI-powered fraud.

“For the year 2023, till date, we have been able to generate 71% returns at the portfolio level, and we like to invest in companies that have a return on capital substantially higher than the cost of capital," says Siddharth Oberoi, Fund Manager — Prudent ACE Equity Fund. In an interview with ETMarkets, Oberoi said: “The philosophy has worked for us over the last 27+ years and we are quite confident that it will continue to outperform in the future as well,” Edited excerpts: Thanks for being part of the segment. Prudent Ace Equity Fund has given stellar returns since its launch. Take us through the performance. The fund will complete its first year in December 2023. We follow the calendar year for performance measurement. For the year 2023, till date, we have been able to generate 71% returns at the portfolio level.

Balrampur Chini, Delta Corp, Indus Towers, IRCTC, Manappuram Finance, National Aluminium Company (NALCO), Piramal Enterprises (PEL), RBL Bank, Zee Entertainment Enterprises (ZEEL) and Steel Authority of India (SAIL). The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%. Traders who trade in indices do not encounter a situation of security ban.

Azad Engineering is one of the key manufacturers of qualified product lines supplying to global original equipment manufacturers in the aerospace and defence, energy, and oil and gas industries. The company makes complex and highly-engineered precision forged and machined components that are mission and life-critical and hence, some of their products have a zero parts per million defects requirement. Also Read: Happy Forgings IPO opens for subscription. Should you apply? Azad Engineering IPO review: Should you bid? Despite on-par valuation with peers, analysts advised investors to subscribe to the issue over the company's strong financial track record and superior outlook on growth. «The company has a solid track record, a strong business plan, and management experience that has produced positive results in the past.

Day trading guide for today: The Nifty 50 and Sensex, leading benchmark indices, reached new all-time highs of 21,505.05 and 71,623.71, respectively, during intraday trading on Tuesday, December 19. The Nifty 50 concluded with a 34-point gain, equivalent to a 0.16% increase, closing at 21,453.10. Simultaneously, the Sensex wrapped up at 71,437.19, marking a 122-point upswing, translating to a 0.17% rise.

equities witnessed a second day of consolidation on Tuesday amid positive global cues. «The overall market sentiments remain buoyant on the back of continued FIIs buying and strong macro data. Going ahead, the positive momentum is likely to continue largely driven by liquidity and vibrant mood ahead of Christmas and new year.,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS

Aequs may soon make its new line of Marvel toys for India as well as for the countries in the Middle East, people in the know told ET. The company has signed a contract with Stone Sapphire, licensee for Disney in India, to design and manufacture collectible pullback cars in Marvel superhero colours. The design process began 18 months ago, and the new car versions in the colours of Captain America, Black Widow, Spiderman, and 33 other Marvel characters will be available in the markets across India this Christmas. The company plans to expand the existing range even more before proceeding to the next phase, Aravind Melligeri, the US-based founder of Aequs, told ET.

DCB Bank and Easy Home Finance have agreed to tie up for disbursing affordable home loans. DCBs' affordable housing loans will be routed through the mortgage company's tech platform to enable quick disbursements, according to a statement by the companies. «Our expertise in origination and credit assessment will be boosted with the expertise and digital tech of Easy Home Finance,» said Narendranath Misha, head-retail and agri loans at DCB Bank.

Stallion India Fluorochemicals has filed preliminary papers with markets regulator Sebi to raise funds through an initial share sale. The Initial Public Offering (IPO) comprises a fresh issue of up to 1.78 crore equity shares and an Offer For Sale (OFS) component of up to 43.02 lakh shares by its promoter Shazad Sheriar Rustomji, as per the Draft Red Herring Prospectus (DRHP).

Embassy REIT Global private equity firm Blackstone Group plans to sell its entire stake in Embassy Office Parks REIT through a mega block deal on Wednesday, according to news reports Tech Mahindra Mohit Joshi assumed the office of Managing Director and CEO of the company effective December 20. Nippon AMC IndusInd Bank is likely to sell up to 2.86% equity in Nippon AMC through block deals on Wednesday, according to reports. Read more: Here's the trading setup for today's session Glenmark Life The Competition Commission of India has approved the acquisition of majority shareholding of Glenmark Life Sciences by Nirma. BPCL The Board has approved a proposal for setting up Polypropylene (PP) unit, for production of Polypropylene at Kochi refinery at gross project cost of Rs 5044 crore. Apollo Tyres Global private equity major Warburg Pincus on Tuesday sold a 4.5% stake in leading tyre manufacturer Apollo Tyres for Rs 1,281 crore through multiple block deals. Varun Beverages The company has signed a memorandum of understanding with the Jharkhand government for its proposed manufacturing plant in Patratu with a total capital outlay of Rs 450 crore.

Buy or sell stocks for today: After weak opening during morning deals, Indian stock market recovered from early losses and ended marginally higher on Tuesday. Nifty 50 index gained 34 points and ended at 21,453 levels, BSE Sensex surged 122 points and closed at 71,437 mark whereas Bank Nifty index added 3 points and closed at 47,870 levels.