Experts Financial News

Bharat Forge Ltd. traded at Rs 1219.95 on BSE at 11:52AM (IST) on Tuesday, up 1.12 per cent from previous close. The stock quoted a 52-week low price of Rs 744.0 and a high of Rs 1220.0.

Year-to-date, the NSE Nifty 50 has gained more than 18% and the BSE Sensex 17%, driven by robust inflows from both domestic and foreign investors. As we enter into 2024, the bulls are holding the strings tight and market experts remain optimistic about the performance continuing in the next year as well.

loans increasing from 15% to 25% in the past decade. The dynamic regulatory environment poses manageable challenges, and new product offerings are expected to shape the business mix. While the RBI's directives on unsecured consumer credit may impact capital, the sector remains resilient, with an anticipated 14% growth in the next two years. NBFC AUM is projected to grow by 16-18% in FY24 and 14-17% in FY25 and cross the INR32t mark by Mar’25. Unsecured loans are expected to constitute 12-14% of the NBFC AUM, with a growth rate ranging from 14-17%, reflecting a slight moderation due to recent regulatory interventions. The performance of NBFCs remains robust, characterized by a higher PCR for stage 2 and stage 3, low leverage, and a strategic readiness for broad-based growth. The NBFC sector is witnessing a notable diversification, with 55% of companies exploring new product segments. Co-lending partnerships are expected to grow, and NBFCs are actively seeking funding diversification through bonds and securitization. The retail consumption book is a significant contributor and retail demand in secured and unsecured segments has strengthened, with an increased market share. Asset quality appears robust and is anticipated to remain fundamentally strong as signs of stress are limited and there are declining trends in Stage 2 loans. Profitability is expected to remain steady, backed by stable credit costs and operating expense ratios, indicating a positive outlook for the financial performance of NBFCs. Spandana Sphoorty: LTP Rs 1052| Target Rs 1200 The new management has successfully navigated various disruptions and consequent asset quality stress. We estimate Spandana to deliver FY26 RoA/RoE of 4.4%/17%, aided

Indian Bank with a target price of Rs 525. The current market price of Indian Bank is Rs 448.15. Indian Bank, incorporated in the year 1907, is a banking company (having a market cap of Rs 55621.40 Crore).

Federal Reserve could move. While a few Fed officials have pushed back against surging market expectations of rate cuts, markets are still pricing in about a 69% chance of a Fed rate cut in March, according to the CME FedWatch tool, Reuters reported.

DLF Ltd. traded 0.3 per cent up at Rs 699.6 at around 11:42AM (IST) on Tuesday. The stock had closed at Rs 697.45 in the previous session.

₹277 to ₹291 per equity share of the face value of ₹10. Muthoot Microfin Limited raised ₹284.99 crore from anchor investors on Friday, December 15. Muthoot IPO lot size is 51 equity shares and in multiples of 51 equity shares thereafter.

HCL Technologies and Persistent Systems considering the recent rally in these stocks. The brokerage firm believes the recent strong rally limits further upside in select stocks in the IT sector. HCL Tech share price has gained nearly 11 per cent while Persistent Systems share price has gained over 9 per cent in December so far.

Stock market today: Despite weak trends at Indian stock market, JTL Industries shares witnessed strong demand during early morning deals. JTL Industries share price today opened upside at ₹247.90 per share levels and went on to hit intraday high of ₹252 apiece on NSE, which is now its new life-time high as well. While climbing to a new peak, JTL Industries shares ascended to the tune of 60 per cent in year-to-date (YTD) time.

Today, the industry comprises only 4 crore unique investors who have around 15 crore folios. MF AUM as a percent of GDP stands currently at 14%. In comparison, countries like China (23%), South Africa (45%) and Brazil (72%) are significantly ahead. Developed markets like the US, France and Australia stand north of 100% on this metric. Clearly more than 4 crore people in India can invest in mutual funds. Over 50 crore people have an OTT subscription, over 25 crore ordered food online last year and over 20 crore have shopped online. I would argue that all these people can certainly start a Rs 500 monthly SIP in mutual funds. At a very conservative estimate, at least 20 crore people in India can be mutual fund investors. Affordability is not the issue. So why are more people not investing in one of the most transparent, well-regulated investment opportunities in the country? I am certain that everyone who is ordering food online is aware of mutual funds and can invest, but for some reason many do not take the next step of considering it as an investment avenue. Why?

Sandur Manganese & Iron Ores(up 7.09%), Gujarat Mineral Dvpt Corporation(up 3.42%), Coal India(up 1.34%), Orissa Minerals Development Company(up 0.95%), Oriental Trimex(up 0.51%), Aro Granite Industries(up 0.20%) and Pokarna(up 0.06%) were among the top gainers. Ashapura Minechem(down 2.65%), Madhav Marbles and Granites(down 1.33%), 20 Microns(down 1.29%), NMDC Ltd(down 1.23%), KIOCL(down 1.15%), MOIL(down 0.64%) and Lexus Granito(down 0.26%) were among the top losers.

Venus Pipes & Tubes Ltd., incorporated in the year 2015, is a Small Cap company (having a market cap of Rs 2773.97 Crore) operating in General sector. Venus Pipes & Tubes Ltd.

Shriram Finance Ltd. traded 0.24 per cent up at Rs 2053.1 at around 10:30AM (IST) on Tuesday. The stock had closed at Rs 2048.1 in the previous session.

House Rent Allowance (HRA) option if provided by employer as a part of salary. But one question that usually crops up is whether both rent receipts and rent agreement required as proof to make the claim? «Rent agreement is important but may not be a sufficient document on its own to claim HRA exemption for tax purposes,» says Akhil Chandna, Partner, Grant Thornton Bharat. «Rent receipts serve as evidence that the employee has actually paid the rent amount mentioned in the rent agreement. Hence, it is advisable for an employee to maintain rent receipts along with the rent agreement; and furnish these before the assessing officer when questioned.» Mere execution of a rent agreement does not guarantee actual rental payments, explains Tarun Kumar Madaan, Tax Head, Coherent Advisors. «Some individuals may execute rent agreements with family members but not make rental payment transactions. In such cases, the absence of rent receipts and proof of actual payments could lead to the denial of the HRA claim by the assessing officer.»

Orient Green Power Company(up 2.67%), Power & Instrumentation(Gujarat)(up 2.54%), GE Power India Limited(up 1.44%), Jaiprakash Power Ventures(up 0.71%), NTPC(up 0.56%), Voltamp Transformers(up 0.53%), Reliance Power(up 0.42%), Transformers and Rectifiers(India)(up 0.35%), KEC International(up 0.17%) and Power Grid Corporation of India(up 0.06%) were among the top gainers. Energy Development Company(down 5.01%), KPI Green Energy(down 3.66%), CESC(down 2.81%), SJVN(down 2.31%), Suzlon Energy(down 1.98%), PTC India(down 1.50%), DPSC(down 1.50%), Tata Power Company(down 1.47%), NHPC(down 1.45%) and Alstom T&D India(down 1.44%) were among the top losers.

The longtime president of the William and Flora Hewlett Foundation, Larry Kramer, will step down from his role at the end of 2023

Vedanta Ltd. traded 0.49 per cent up at Rs 261.9 at 10:35AM (IST) on Tuesday, even as BSE benchmark Sensex dropped 71.17 points to 71243.92. The stock had closed at Rs 260.6 in the previous session.

market as the gauge for smallcap stocks has given about 15% returns. With smallcap stocks continuing their non-stop one-way move, mutual funds increased their bets in many of them in the last one month. Atleast eight small cap stocks, which have given more than 40% returns since November, saw increase in mutual fund holding, data by Ace MF showed.

Until recently, the Chinese manufacturer behind Elf Bar e-cigarettes was able to slip its products passed U.S. customs officials

Traders who trade in indexes do not encounter a situation of security ban. The MWPL for Balrampur Chini stood at 104.9% on Monday with OI reported by Trendlyne at 10.1. It was down by 4.9% from the previous session. The MWPL for National Aluminium stood at 101.5% on Monday with OI reported by Trendlyne at 71.4 million.

The South Korean city of Busan is edging closer to the launch of a long-awaited blockchain-powered digital assets trading platform, and has named a preferred bidder.