Experts Financial News

Dolly Khanna, whose portfolio is managed by her husband Rajiv Khanna, have given multibagger returns inching up to 228% in 2023. Data available till the end of the September quarter on ACE Equity showed that Khanna owned 18 stocks in her portfolio out of which Chennai Petroleum, Talbros Automotive, Prakash Pipes, Tinna Rubber and Control Print have given multibagger returns this year. We have excluded stocks that were not owned by her. Prakash Industries has also given multibagger returns in the last one year but it is not considered in this list as the stock was not in her portfolio in December 2022. Chennai Petroleum Corporation Chennai Petroleum owns one of the largest standalone refineries in south India with a capacity of 10.5 mtpa.

stocks that have given multibagger returns of upto 412% in 2023 so far, saw retail investors increase their holdings for three consecutive quarters. These 12 stocks are Anand Rathi Wealth, Control Print, Gravita India, IRCON International, Jupiter Wagons, KDDL Ltd, Kilburn Engineering, KSolves India, Saksoft, Shilchar Technologies, Sky Gold, and Som Distilleries Breweries. Stocks in the smallcap segment have had a dream run this year, backed by the relentless buying, particularly by retail investors.

Anil Kothuri, MD & CEO, Fedbank Financial Services, says: “We intend opening 50 branches this year and most of which are done. And all the branches we open this year are focused on selling small mortgages. So, that branch count is slated to go from 130 to 180 okay. Now, every year we will continue to open branches and expand. Our norm is to open something like 50-60 branches every year. So, our branch count will increase by roughly 8% from here on every year for the foreseeable future. That will help us expand our presence in places where we are not there. We will enrich our presence in northern India and then foray eastwards.” You have reached an AUM of around Rs 10,000 crore and the growth was also strong at 38% on a year-on-year basis. But going forward, do you think the base effect will come into picture or do you expect this pace of 35-40% AUM growth to continue in the coming years? What we are guiding is that our AUM will grow by at least 25% year-on-year from here on.

Pramod Gubbi, Founder, Marcellus Investment Managers, says “I expect significant flows to come into India largely through India-dedicated funds. Maybe on the other side of elections perhaps because that is the only bit of uncertainty, maybe the last week's state elections has ironed out that uncertainty a little bit. Allocators would like to see some political stability. So, maybe the big ramp up might come on the other side of the election, but we have already seen the beginnings of those starting with last week's flows. ” We are trying to map the factors which are at play; the sudden change of stance from the Fed last evening has triggered a big global risk-on moment. India is also participating. Is it really something which the market is surprised about or was it largely in the direction the market was expecting? Three rate cut possibilities are now on the table starting mid-next year. I reckon it is not a total surprise. Pretty much at the beginning of April of this year, the best indication has been either the dollar index or FII flows into India as well. We have bottomed out in terms of FII outflows sometime in March 2023. And I think it was the 25th March 2023 Fed meeting which triggered that. In sum, the market started factoring in that we are close to the peak of the interest rate cycle, if not foreseeing some cuts. That has been at play for quite some time.

Delta Corp, Hindustan Copper, Indiabulls Housing Finance, The India Cements, Manappuram Finance, Zee Entertainment Enterprises (ZEEL) and Steel Authority of India (SAIL). National Aluminium Company is out of the ban. 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.

“Alternative investments through (AIFs) typically make up about 15-20% of their overall profile," Gautami Gavankar, CEO, Estate Planning and Trusteeship at Kotak Mahindra Trusteeship Services Limited. In an interview with ETMarkets, Gavankar said: “PMS has always been a part of the industry, but for the last couple of years, there has been a momentum in AIF,” Edited excerpts: We are inching towards the last month of 2023 – any key learnings from the wealth space that you have come across and will hold true in the coming years as we all know that we live in a dynamic environment? What are the requests that you are getting from your clients when it comes to managing wealth – are they open in taking more risks compared to the past and exploring new products? The average age of HNI and UHNI investors has been dropping, accompanied by significant wealth creation in recent years.

“Risk management is embedded in our Investment Process. By focusing on price-value gaps, we strive to achieve a balance between risk and reward," Tridip Pathak, Executive Director and Portfolio Manager at Avendus Olivo PMS. In an interview with ETMarkets, Pathak said: “We have an investment process which helps us identify opportunities from our ~145 stock coverage universe at any point in time,” Edited excerpts: Thanks for being part of the segment. You are managing over 600 cr in AUM – please take us through the portfolio performance? As of today, our PMS Strategy has delivered ‘on an aggregate basis’ a CAGR return of 21.7% since inception in August 2020, 19.8% over the last 3 years, 13.7% over the last 2 years and 28.4% over the last 1 year.

quantum mechanics — the theory in physics that describes the behavior of matter and energy at the level of atoms and subatomic particles. Quantum science has also been explained by a U.S. government scientist as the «rules that describe how really small things behave.» This field is full of surprises, even for the experts. Richard Feynman, the late theoretical physicist, Nobel laureate and pioneer of quantum computing, described the field as «peculiar and mysterious to everyone — both to the novice and the experienced physicist,» because it is so different to how people experience and perceive the behavior and properties of larger objects.

bond yields and a rash of market bets on U.S. rate cuts next year, marking a sharp shift in pricing that is rare outside of financial panics. Economic data on Thursday showing stronger-than-expected retail sales in November and a smaller-than-anticipated rise in weekly jobless claims had traders paring a bit of their earlier enthusiasm for Fed policy easing next year. But even after the data, rate futures markets remain solidly priced for a March start to a round of rate reductions that would push the Fed's benchmark rate, now in the 5.25%-5.50% range, to the 3.75%-4.00% range by the end of next year. That's twice the 75-basis-points of rate cuts Fed policymakers themselves penciled in for 2024 in projections released by the U.S.

NEW DELHI : Soon, corporate lawyers and executives will no longer have to turn up at company registrar offices for case hearings, with the government preparing the ground for virtual hearings on its MCA21 portal. The ministry of corporate affairs (MCA) is set to roll out e-adjudication on its statutory filing portal by March, two people familiar with the development said, drawing comfort from the record number of return filings this year. Once it is launched, all proceedings by the registrars of companies (RoCs) related to company law breaches and defaults will be conducted entirely online.

«With India continuing to post strong growth numbers and hopes of rate cut expected in the middle of next year, optimism in equity markets could continue in the medium term,» said Prashanth Tapse, Senior VP (Research), Mehta Equities. Here's breaking down the pre-market actions: STATE OF THE MARKETS

Sensex's ascent from 60,000 to 70,000 was not a one-sided move with the index taking nearly 551 sessions to move up 10,000 points. In contrast, the Sensex completed the journey from 50,000 to 60,000 in 158 sessions.

policy environment in 2024 have boosted most Asian currencies versus the dollar, but the rupee's gains have paled in comparison as the Indian central bank looks to build a reserves buffer and preserve export competitiveness amid a global scarcity of the greenback. On Thursday, the rupee closed at 83.3275 per US dollar, just 0.09% stronger than 83.4025/$1 at previous close. Meanwhile, currencies such as the Thai baht and the South Korean won notched up gains of around 2% versus the US dollar on Thursday while the Indonesian rupiah strengthened 1%, Bloomberg data showed. The Malaysian ringgit, the Taiwanese dollar, the Chinese yuan, the Philippine peso, and the Singapore dollar also outstripped the rupee's gains on Thursday, with the domestic currency extending the underperformance it showed versus its Asian peers last month.

US bond yields staying higher for longer, the Federal Reserve may reverse its ongoing quantitative tightening (QT) and resort to liquidity injections by either May or June next year to avert major disruptions in the global financial system, Neelkanth Mishra, chief economist, Axis Bank, said in an interview to Gayatri Nayak and Bhaskar Dutta. Edited excerpts: What is your view on global liquidity in view of the strong strides towards QT that the Fed has taken? When can we expect any change in the RBI's management of domestic liquidity? Once the RBI feels comfortable that now the Fed will keep easing for a while, it will allow them to go easier. When that happens is a much tougher question. My sense is the late second quarter of the calendar year 2024. So, maybe a May-June timeframe. By then, we should start to see some stresses showing up. There are some indicators; we have started seeing shortages in dollars outside the US. But for things to reach a point where the Fed is forced to intervene again could be in May or June.

Vedanta A Board meeting of Vedanta is scheduled on December 19 to consider issuance of non-convertible debentures (NCDs) on a private placement basis. BHEL BHEL and CMTI have signed a memorandum of understanding (MoU) for collaboration on technology development in the areas of Hydrogen value chain and IIoT solutions for predictive maintenance of machines and manufacturing processes. Hero MotoCorp The company has appointed Vivek Anand as Chief Financial Officer (CFO) and Rachna Kumar as the Chief Human Resources Officer (CHRO).

Hiring mandates put out by IT services companies – that had almost completely frozen recruitments in the last few quarters due to weak tech demand – are improving on a month-on-month basis, recruitment firms said.

RBI) will carry out a 7-day variable rate repo auction worth ₹1 lakh crore on December 15, marking the first time in six months that the central bank will infuse liquidity into the banking system through this route. The RBI has taken the decision to inject liquidity into the banking system in light of outflows on account of advance tax and goods and service payments. «The 14-day VRRR auction conducted on December 01, 2023 and subscribed for ₹22,468 crore is maturing and allowed to be reversed on December 15, 2023,» read a release on the RBI's website on Thursday. «Furthermore, in view of likely outflows from the banking system on account of advance tax and GST payments, it has been decided to conduct a 7-day variable rate repo auction on December 15, 2023, Friday.» The last time that the RBI had conducted a variable rate repo auction was on June 19. Over the past year, the central bank has taken steps to drain out excess liquidity from the banking system. However, liquidity has tightened significantly over the past couple of months due to demand for currency during the festive season, the RBI's actions in currency markets and tax payments.

trading at new lifetime highs, wealth managers are seeing enquiries from investors on how they should approach the markets. And most out there give the same advice: stick to long-term goals and maintain asset allocation — which means diversifying portfolios across different assets such as equity, fixed income, and gold. «Asset allocation determines as much as 90% of the long-term returns of an investor's portfolio,» said Misbah Baxamusa, CEO of NJ Wealth. Maintaining asset allocation is a continuous process and should be carried out whenever there is a sharp rise in one of the asset classes, he added. Over the last year, the Nifty 50 moved up by 13.64%, while the Nifty Midcap 150 rose 35.91% and the Nifty Smallcap 250 rose 39.03%.

stock market opens on Friday (December 15). The Board of Directors of Asit C Mehta Financial Services at a meeting held on December 1 approved the Rights Issue. The company has revised its record date to December 15.

PVR Inox and Cinepolis that have lately refused to screen the Hindi versions of some South Indian films in north India amid a row over OTT window have found themselves at the losing end. Tamil-language titles like Leo and Jailer not only secured lucrative streaming deals but also found resonance with small-town viewers who flocked to single screens and non-national theatre chains to watch them.

Mint in the week gone by. The Sensex closed above 70,000 for the first time on Thursday, taking 551 days to add the last 10,000 points, while inflation rose to a three-month high. Meanwhile, funding slowdown continued for India's tech start-ups, falling to a five-year low.