Experts Financial News

Bandhan Bank Ltd.(up 5.04 per cent), IDFC First Bank Ltd.(up 0.85 per cent), Federal Bank Ltd.(up 0.78 per cent), IndusInd Bank Ltd.(up 0.6 per cent) and Au Small Finance Bank Ltd.(up 0.38 per cent) were among the top gainers. Axis Bank Ltd.(down 0.66 per cent), Bank of Baroda(down 0.2 per cent), State Bank of India(down 0.13 per cent), ICICI Bank Ltd.(down 0.05 per cent) and HDFC Bank Ltd.(down 0.01 per cent) were the top losers on the index.

Cholamandalam Investment & Finance Company Ltd. gained 0.86 per cent to Rs 1239.65 at 10:56AM (IST) in Friday's trade. The stock has hit a high of Rs 1246.1 and low of Rs 1229.0 so far during the session.

Over the past decade, India has been one of the fastest growing economies in the world and is becoming the most sought after investment destination for foreign investors. The GIFT International Financial Services Centre in Gujarat is a step in the direction of attracting higher foreign capital. Abhishek Bansal, Chairman, Abans Group believes that aligning policies and regulations with international standards, is one of the essential aspects to drive investments. “One crucial aspect for enhancing foreign investors’ interest in GIFT City is achieving goal congruence between national regulatory agencies and the GIFT regulator,” says Bansal. Such an approach ensures investor-friendly policies that meet global expectations and foster confidence and interest among foreign investors in GIFT City, he said. Edited excerpts: Notwithstanding certain regulatory hiccups, the last couple of years has been quite good for the AIF industry. Can you share some of the trends to watch out for the segment in 2024? Over the past years, the AIF industry in India has defied regulatory challenges, witnessing significant growth. Investors, including institutions and high-net-worth individuals, are increasingly drawn to alternative investments, seeking diversification beyond traditional assets. Sector-specific funds focusing on areas like technology and healthcare have gained popularity, offering targeted exposure and potential high returns.

Oriental Trimex(up 19.88%), Sandur Manganese & Iron Ores(up 3.04%), NMDC Ltd(up 1.59%), Ashapura Minechem(up 1.09%), Aro Granite Industries(up 0.79%), Coal India(up 0.53%) and 20 Microns(up 0.28%) were among the top gainers. Gujarat Mineral Dvpt Corporation(down 1.05%), Pokarna(down 0.67%), MOIL(down 0.64%), Madhav Marbles and Granites(down 0.47%), Orissa Minerals Development Company(down 0.20%) and Lexus Granito(down 0.13%) were among the top losers.

Tata Steel with a target price of Rs 150. The current market price of Tata Steel Ltd.

Brigade Enterprises Ltd.(up 4.02 per cent), Swan Energy Ltd.(up 2.86 per cent), Sobha Ltd.(up 1.57 per cent), Phoenix Mills Ltd.(up 0.45 per cent) and DLF Ltd.(up 0.18 per cent) were among the top gainers. Prestige Estates Projects Ltd.(down 2.7 per cent), Macrotech Developers Ltd.(down 1.15 per cent), Godrej Properties Ltd.(down 1.02 per cent) and Oberoi Realty Ltd.(down 0.32 per cent) were the top losers on the index.

Hindustan Zinc with a target price of Rs 325. The current market price of Hindustan Zinc Ltd.

LTIMindtree Ltd. gained 3.07 per cent to Rs 6129.75 in Friday's session as of 10:35AM (IST) even as the equity benchmark Sensex traded 500.67 points higher at 71014.87. Earlier in the day, the stock witnessed a gap down start to the session.

Will home loan EMIs fall as RBI holds repo rates? Do this now to ease burden of EBLR, MCLR, base rate and BPLR loans

Arvind with a buy rating, HSBC upgraded Colgate Palmolive India to a buy from hold earlier while it downgraded Nestle India to hold. Centrum Institutional Research initiated coverage on Ugro Capital with a buy rating. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: SPARK on Arvind: Buy| Target Rs 352 SPARK initiated coverage on Arvind with a target price of Rs 352.

Money from NRE account can be easily transferred out of India. However, the same cannot be said for the NRO account. There are certain document requirements, approval needed from Reserve Bank of India (RBI) and annual limit that must be adhered to in order to transfer money from NRO account out of India. Read on to know the rules an NRI must follow to take the NRO money out of India.

On the BSE, City Pulse Multiplex(down 14.92 per cent), SVS Ventures(down 8.04 per cent), Veerkrupa Jewellers(down 6.34 per cent), Kama Holdings(down 6.34 per cent) and Modipon Ltd(down 6.15 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 41 stocks traded in the green, while 9 stocks traded in the red.

Bharat Electronics Ltd. gained 2.04 per cent to Rs 167.25 in Friday's trade. It hit a high of Rs 168.65 and low of Rs 165.1 during the session.

Mahindra & Mahindra Ltd.(up 1.47 per cent), Tata Motors Ltd.(up 1.44 per cent), Hero MotoCorp Ltd.(up 1.09 per cent), Bajaj Auto Ltd.(up 0.68 per cent) and Samvardhana Motherson International Ltd.(up 0.55 per cent) were among the top gainers. Tube Investments of India Ltd.(down 0.44 per cent), Sona BLW Precision Forgings Ltd.(down 0.3 per cent), TVS Motor Company Ltd.(down 0.18 per cent) and Balkrishna Industries Ltd.(down 0.08 per cent) were the top losers on the index.

IPOs hitting Dalal Street in the last few days of December, star investor Ashish Kacholia and broking firm Zerodha have quietly invested in an NPO which got listed on the Social Stock Exchange this week. NPO stands for not-for-profit organisation and investors can't expect anything in return for buying zero coupon zero principal (ZCZP) instruments. Unlike investments in IPOs, FPOs and NFOs, you don't get any interest, capital appreciation, dividend or even your capital back. The instrument, however, does get credited to demat accounts of investors but its value will become zero after the project for which the fundraiser was done gets completed. On Wednesday, Bengaluru-based NPO SGBS Unnati Foundation, which runs vocational training programs for unemployed, raised Rs 1.8 crore from two HNIs and another two institutional investors. Smallcap czar Kacholia, known for his multibagger picks, invested Rs 30 lakh while Zerodha generously invested Rs 1 crore.

While many sectors and themes have done well in 2023, HDFC Asset Management is positive on four major sectors, entering into 2024. “At the broader level, we are positive on sectors with good prospects of earnings growth and where valuations are reasonable,” said Rahul Baijal, senior fund manager – equities at one of India’s leading asset management companies. In his view, some of the large banks seem well placed given their strong balance sheets, healthy credit growth, good asset quality and reasonable valuations. Telecom and healthcare are the other two sectors that Baijal thinks look good from a medium to long term perspective. Edited excerpts. How does 2024 look up for the Indian equity market? What are the key factors that will drive inflows? Indian equities have done well in 2023 and are likely to end the year on a positive note, with all three market cap segments delivering positive returns. In my view, as we enter 2024, global macro factors may dominate local macro in the first half of the year. The nature of the slowdown in the US and the movement of the US 10-year yield is likely to continue to cause volatility, as has been the case in the recent months. Locally, the economy is in a good shape with healthy macroeconomic fundamentals.

Benchmark NSE Nifty index rose 69.65 points to 21252.35 amid buying in frontline bluechip stocks. However, stocks such as Raj Rayon, SEL Manufact, Winsome Yarns, Lakshmi Precis and Wealth First Port, touched their fresh 52-week low.

Indian Oil Corporation Ltd. traded at Rs 122.9 on BSE at 10:00AM (IST) on Friday, up 2.41 per cent. The stock quoted a 52-week low price of Rs 72.35 and a high of Rs 123.1.

Life Insurance Corporation of India with a target price of Rs 916. The current market price of Life Insurance Corporation of India is Rs 797.5. Life Insurance Corporation of India, incorporated in the year 1956, is a Small Cap company (having a market cap of Rs 506980.19 Crore) operating in Financial Services sector.

Renewable Energy Limited has raised Rs. 1,500 crore through the qualified institutions placement (QIP) route. The bulk of the proceeds from the QIP will be used to pare down debt furthermore providing us capital to pursue the fast-growing solar EPC markets in India and abroad, the company said in a statement, adding that the QIP witnessed a strong response from both domestic mutual funds and global FIIs. “The last couple of months have been challenging for us as an organization and the successful completion of the QIP is a significant moment in our journey," said Amit Jain, Global CEO, Sterling and Wilson Renewable Energy. The company had missed scheduled payments to lenders this September it faced a liquidity crisis triggered by the invocation of two bank guarantees. Shapoorji Pallonji and Company Pvt Ltd holds an 18.5% stake in the company and Reliance Industries, through a subsidiary, holds 40% equity. The company said it’s unexecuted order book as of September 30th, 2023, continues to remain healthy at Rs 6,835 crore aided by strong domestic EPC order inflows with a growing bid pipeline in both India and abroad.

Federal Reserve's policy meeting earlier this week. Gains were seen across all the sectors. The BSE Sensex was trading 287 points or 0.41% higher at 70,801.