Experts Financial News

rising intеrеst ratеs will shape the 2024 landscapе. Most of them expect the interest rates in 2024 to either stay at current levels or rise marginally, but they don't anticipate a significant impact on residential demand. Affordability and income outlook will be more critical factors in determining residential sales.

Apparel and fast-fashion brands such as Perry Ellis and H&M are turning to a new weapon in the fight against costly online returns: artificial intelligence. They are using AI to sharpen product descriptions and recommendations, steer certain ads away from shoppers most likely to return those products, and aim advertising toward consumers they believe will hold on to their purchases. “What we can’t do is stop Amazon letting somebody purchase.

General Elections 2024. This reinforces the likelihood of policy continuity and a favourable trajectory. The critical decision now lies in determining where to place one's bets—whether on large caps, mid caps, or small caps.

Aptronix, India's local Apple expert, is Apple's youngest and most rapidly growing partner in India. This exclusive Apple partner in India is now the largest Apple partner with 60 stores across the nation. To mark the milestone of becoming the largest Apple partner with 60 stores the brand is hosting celebratory events along with some exclusive offers on all Apple Products with up to Rs.

Geojit Financial Services, commented, "This, along with short covering and reasonable valuations, will keep this segment strong." The Nifty Bank has gained approximately 11 percent in the year-to-date period in 2023 and the last 12 months. In comparison, the benchmark Nifty has rallied 18 percent in the year-to-date period and 17 percent in the last 12 months. Analysts emphasise the importance of the banking index's performance for the overall health of the Indian market.

LTIMindtree Ltd. traded 0.88 per cent up at Rs 6085.3 at around 01:29PM (IST) on Tuesday. The stock had closed at Rs 6139.5 in the previous session.

IT stocks HCL Technologies and Persistent Systems have received a downgrade by Kotak Institutional Equities as the brokerage sees limited upside in the two stocks going ahead. Kotak cut the rating on HCL Technologies to an 'Add' from an earlier 'Buy' and also downgraded Persistent to 'Reduce' from an 'Add'. On Persistent, Kotak said that the stock is currently trading at 33X FY2026E EPS and is expensive after a 22% rally in the past three months. «Rollover to December quarter and 2X increase in multiple factoring in lower macro uncertainty following rate cut path laid out by US Fed lead to 9-16% increase in FVs for IT stocks,» Kotak said in a note Following the downgrade, HCL Tech shares fell 1.7% intraday while Persistent was down by 2% around 12 pm.

BNB and Solana. The global cryptocurrency market cap also rallied nearly 3.6% to around $1.61 trillion in the last 24 hours. At 12.19 p.m., BTC was trading 4.2% higher at $42,912, while Ethereum was up 3.02% at $2,241. Other popular altcoin, such as Solana and Cardano, surged 8.2% and 6.4%, respectively. BNB, Avalanche, Polkadot, Chainlink, and Shiba Inu also gained 2-4%. After trading in the red for the first time in 9 weeks, BTC started the 10th week hitting early $40k support levels but bounced soon to test $43.5k. At the same time, BTC has been able to maintain its dominance at 53.5% for the past few days, which is a positive sign for its price action, said CoinSwitch Markets Desk.

MphasiS Ltd. slipped 0.93 per cent to Rs 2653.9 in Tuesday's trade. It hit a high of Rs 2685.65 and low of Rs 2626.15 during the session.

Credo Brands IPO subscription status: Credo Brands IPO saw a healthy response from retail investors as the IPO's retail portion was subscribed 1.07 times by 12:10 pm on Tuesday, December 19, the first day of the IPO. According to data available with BSE, Credo Brands IPO's non-institutional investors (NIIs) portion was subscribed 0.41 times. Overall, the IPO was subscribed 0.62 times by that time.

Home loan buyers have borne the burden of expensive home loans either in the form of higher interest rates or extensions. For the last two years, home loans have become more expensive for new entrants and also for existing borrowers.

India Shelter IPO allotment: After closure of subscription on Friday last week, India Shelter IPO allotment has been made public today. Those who applied for the public issue need not to move from pillar to post as they can check their India Shelter IPO allotment status online by logging in at the BSE website or at the website of its official registrar KFintech. Meanwhile, after closure of bidding, India Shelter shares have gone from strong to stronger in last two days.

₹69.20 apiece. This follows a substantial 20% surge in the previous trading session. SpiceJet's stock has been garnering attention in recent weeks due to various positive developments.

SBI, Bank of Baroda, Indian Bank, Union Bank, Canara Bank, and PNB. «A reflection on PSBs valuation history may cause trading multiples to look constrained, however the quality of earnings, growth outlook and broader re-rating in PSU entities will nevertheless enable steady performance of the sector,» Motilal analysts including Nitin Aggarwal said. Stating that PSBs are likely to report a 10% CAGR in deposits over FY23-26, Motilal said most PSU banks are well positioned in terms of liquidity, with their LCR well above the regulatory requirement of 100% (135-160%), indicating their resiliency and the competitive advantage they have over their private peers, especially in the current rate environment. The analysts noted that overall, PSBs have been able to maintain better margins as a significant proportion of their loans are linked to MCLR (6-12 months’ tenure), which has led to lagged re-pricing of advances portfolio. Stock ideas Motilal's top picks among the PSU bank basket are SBI, BoB, and Canara Bank. For SBI, it has raised the target price from Rs 700 to Rs 800, BoB from Rs 240 to Rs 280, Indian Bank from Rs 460 to Rs 525, Union Bank from Rs 130 to Rs 150, and Canara Bank from Rs 440 to Rs 550. While the brokerage has buy ratings on the above 5 stocks, it has a neutral rating on PNB but the price target has been increased from Rs 75 to Rs 90. In the last 5 months, the Nifty PSU Bank index is up over 40% with Central Bank, IOB, PNB, and Union Bank rallying between 7-90%. (You can now subscribe to our ETMarkets WhatsApp channel) (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

SRF Ltd. traded 0.58 per cent down at Rs 2421.55 on Tuesday at around 12:07PM (IST), while the benchmark BSE Sensex advanced 94.02 points to 71409.11. As many as 4,166 shares changed hands on the counter with a total value of Rs 1.01 crore.

SpiceJet jumped nearly 8% to hit a fresh 52-week high of Rs 69.20 on Tuesday after the budget carrier expressed its interest to acquire Go First. The company plans to submit its offer after carrying out due diligence on the bankrupt carrier. Go First, which stopped flying on May 3 amid financial woes mainly triggered by Pratt & Whitney engine issues, is undergoing an insolvency resolution process, PTI reported. In a regulatory filing, SpiceJet said it «has expressed interest with the resolution professional of Go First and wish to submit an offer post diligence, with a view to creating a strong and viable airline in a possible combination with SpiceJet». The stock has been rallying on multiple triggers including the company's plans to consider fundraising options and also getting the stock listed on NSE. The no-frills airline, which is grappling with financial headwinds, last week announced raising around USD 270 million from various investors.

Madhya Pradesh, stone balls revered by locals for generations have been identified as fossilised dinosaur eggs by experts from Lucknow's Birbal Sahni Institute of Palaeosciences, according to a TOI report. Dhar district's Padlya village resident Vesta Mandaloi has worshipped these palm-sized balls as "Kakar Bhairav '' or the lord of the land, following a family tradition. Many families in the village also worshipped these 'balls,' believed to protect farmland and cattle. Recently, experts from the Birbal Sahni Institute of Palaeosciences visited the area and determined that these stone balls were actually fossilised eggs of dinosaurs, specifically belonging to the Titanosaurus species. Scientists suggest that millions of years ago, the Narmada Valley in Madhya Pradesh served as a dinosaur hatchery zone.

Tata Power Company Ltd. slipped 0.66 per cent to Rs 334.75 in Tuesday's trade as of 12:23PM (IST). The stock hit a high price of Rs 338.85 and low of Rs 330.55 during the session.

GAIL (India) Ltd. traded 0.96 per cent down at Rs 143.65 at 11:47AM (IST) on Tuesday, even as BSE benchmark Sensex gained 63.28 points to 71378.37. The scrip had settled at Rs 145.05 in the previous session.

The development triggered a strong investor interest in the stock with nearly 82 lakh shares changing hands on the NSE, while the stock witnessed a 5.20 times spurt in volumes on the BSE. The stock has been a market laggard with returns of just over 2% in the last 12 months while stock's returns in 2023 stand at a mere 7%. In contrast, the Nifty has given over 16% returns. Devyani International's Dubai subsidiary Devyani International DMCC on Monday announced its entry into the Thailand market by signing a share purchase agreement to acquire a controlling interest in Restaurants Development Co, Thailand.

sugarcane to produce ethanol could increase the closing stocks of sugar from the multi-year low of the previous season, leading to some moderation in the soaring sugar prices, say experts and industry stakeholders. Industry observers say as the government has a focus on the ethanol blending programme, more relaxation is likely if sugar surplus is in line with the estimates after the crushing season ends in the first quarter of FY25. Khushbu Lakhotia, Director, India Ratings & Research, says: “While the government has now allowed ethanol production through both cane juice and B- heavy (a category based on sucrose content) molasses, the sugar diversion has been capped at 1.7 million tonnes (MT), which is around 60% lower than the last season and similar to the diversion without cane juice under the order passed on December 7. Even under the revised order, India’s sugar production could increase by 2-2.5 MT to around 31 MT.