Experts Financial News

TLDR 

₹92 apiece levels on 28th September 2023 and in less than three months, this stock has risen to the tune of ₹241.45 per share levels, delivering around 160 per cent return against its listing price. The NSE SME IPO was launched on 15th September 2023 at a price band of ₹87 to ₹92 per equity share. The issue was proposed for listing on NSE Emerge platform.

RBI) Monetary Policy Committee (MPC) is scheduled to commence its three-day policy meeting on December 6, with the outcome due on December 8. Similarly, the US Federal Reserve is set to announce its policy outcome on December 13. Both the US Fed and the RBI are expected to maintain interest rates at the current level since inflation is easing and growth remains resilient.

Newgen Software Technologies share price rallied over 4% on Monday after foreign brokerage firm Jefferies raised target price on the stock. Newgen Software shares gained as much as 4.16% to ₹1,474.00 apiece on the BSE. Jefferies maintained a ‘Buy’ rating on Newgen Software Technologies and raised the target price to ₹1,740 per share, based on 35x PE, implying a PEG of 1.3x, from earlier ₹1,275.

Mayur Milak, Senior V-P- Auto & Aviation, Asian Markets Securities, says “Q3 is one of the best quarters for the aviation industry. If I look at IndiGo, we have just seen the correction in ATF prices at the beginning of December as well. Now, if I just compare this quarter's fuel cost vis-à-vis the earlier quarter, they are up by about 10%, maybe but your fares are up by almost 20%. So, it clearly gives a very strong edge on profitability.” Let us look at this question purely from the standpoint of somebody who wants to say, okay, I went on a booking portal and prices have been exorbitant. I went on a hotel website, prices were sky high. Now, as a customer, I may be feeling a pinch but as an investor, is it time to say buy some of these travel platform companies, aviation stocks or hotel stocks? Clearly, yes. Q3 is one of the best quarters for the aviation industry. If I look at IndiGo, we have just seen the correction in ATF prices at the beginning of December as well. Now, if I just compare this quarter's fuel cost vis-à-vis the earlier quarter, they are up by about 10%, maybe but your fares are up by almost 20%. So, it clearly gives a very strong edge on profitability. And with the kind of scenario pricing power that these guys are sitting on at this point, clearly a very strong buy.

Sanjeev Prasad, MD & Co-Head, Kotak Institutional Equities, says “everybody likes the long-term story of India. People want to put more money to work into India, so now that whatever little uncertainty was there with respect to election results and the probability of a correction in the market has obviously gone down dramatically, probably it makes sense to jump in now rather than wait for something else to happen which may result in a break in the market and give an opportunity for investors to come in. ” Will the bulls continue to smile or is it time to hold back your horses and say that this is a euphoria and euphoria really makes money? Well, it depends on which part of the market you are looking at. If you are looking at the very largecaps or the megacaps, the valuations are still pretty reasonable and that is a part of the market where we have been highlighting investors to focus incrementally over the last two, three months now. The financial sector space has been a bit underperformer. The valuations are very reasonable there and even attractive in some cases. Now, if you look at the rest of the market beyond the megacaps and the financial space, there is not much value left over there. The consumption names, pharmaceutical, IT are probably fully valued to fairly richly valued, I would say. So the scope of making money from here seems to be somewhat limited a bit about what our short term euphoria will be there and where the stock price may go in the short term.

Stock market today: BCL Industries shares witnessed sharp upside move during Monday deals. BCL Industries share price today opened with a huge upside gap and went on to touch life-time high of ₹60.80 per share levels on NSE. While climbing to this nea peak, BCL Industries shares logged an intraday rise of over 12 per cent on Monday.

The United States has taken action to reduce methane emissions from oil and natural gas production

South Korea has launched its first military spy satellite, a little over a week after rival North Korea claimed to put its own spy satellite into orbit for the first time

At least 1,300 employees of organizations representing fossil fuel interests registered to attend this year’s United Nations climate talks in Dubai

As schools across the U.S. grapple with the student mental health crisis, the use of telehealth therapy for students has skyrocketed

A mother and her 14-year-old daughter are advocating for better protections for victims after AI-generated nude images of the teen and other female classmates were circulated at a high school in New Jersey

Bharatiya Janata Party (BJP) registered victories across three major states, fuelling hopes that the country will see a stable government after the General Elections 2024. India's economic growth outlook is strong and if the current government continues after the Lok Sabha elections next year, it may give a strong impetus to market sentiment.

Graphisads IPO: The initial public offering (IPO) of Graphisads Industries Ltd opened for subscribers on 30th November 2023 and it will remain open for bidding till 5th December 2023. So, the NSE SME issue will close on tomorrow. The company has fixed Graphisads IPO price band at ₹111 per equity share and Graphisads IPO lot size has been fixed at 1200 company shares.

cryptocurrency, jumped 5.2% to $41,476 in Monday's trade amid excitement about US interest rate cuts and as traders anticipate the imminent approval of US stock market traded bitcoin funds. This is the first time that Bitcoin crossed the $41,000 mark in the last 19 months. Meanwhile, Ethereum, the second largest cryptocurrency, surged 4.4% to $2,251.8 amid a broader rally in the crypto markets. The global cryptocurrency market cap also surged 4.18% to around $1.54 trillion in the last 24 hours. «The crypto market is witnessing its best performance since May 2022 with Bitcoin and Ethereum breaching the $41,000 and $2,200 mark respectively. The US Fed is expected to cut the interest rate in 2024 and that may boost the liquidity in the market, we may be witnessing early signs of the same,» said Shivam Thakral, CEO of BuyUcoin. «The US Committee on Financial Services calling a December 8 hearing on digital assets may lead to a strong regulatory framework focussing on investor protection, which could prove highly beneficial for the broader digital asset market. The growing optimism around Bitcoin ETF approval will continue to create waves of positive sentiments within the global digital asset community and we can expect this momentum to sustain in the coming weeks,» he said.

Voltas Ltd. rose 0.45 per cent to Rs 838.75 at 01:03PM hours (IST) on Monday. Earlier in the day, the stock saw a gap up start to the session.

LTIMindtree Ltd. traded at Rs 5567.9 on BSE at 01:08PM (IST) on Monday, down 0.12 per cent from previous close. The stock quoted a 52-week low price of Rs 4120.0 and a high of Rs 5638.5.

Varun Beverages Ltd. traded 1.53 per cent down in Monday's trade at 01:14PM (IST). Around 53,781 shares changed hands on the counter.

Shashank Srivastava, Senior Executive Officer (Marketing and Sales), Maruti Suzuki India, says “the stock level varies from geography to geography and dealer to dealer. One of the critical factors for discounting to go up or down is how much is the supply with respect to demand. You would see elevated levels of discount. It is not just about small cars although those cars are under greater stress and therefore it is expected discount levels will continue to be high in this segment. But the discounts would be across the board and every model stock at the end of December should be lower from the perspective of dealers as well as from the OEMs.” Your month-on-month sales have declined by 20% in November. What has led to that and is this a one-off? I think when you are saying month-on-month, you are comparing November figures with October ones. October, remember, was a record month, 391,000 vehicles sold in the industry. And there was obviously a build-up to the festive season because in November, in the first fortnight, we had the Diwali, the Dhanteras, the Bhai Dooj. So obviously, there was some build-up of stocks by the dealers in anticipation of good retails in the first fortnight of November. That does not exist for December because in December, everybody would like to carry lower stocks and try to reduce as much as inventory as possible for the previous year's model year.

Tata Elxsi Ltd. fell 0.61 per cent to Rs 8366.5 in Monday's session as of 01:24PM (IST) even as the equity benchmark Sensex traded 1113.51 points higher at 68594.7. Earlier in the day, the stock witnessed a gap up start to the session.

Havells India Ltd. traded 0.07 per cent lower in Monday's session at 12:48PM (IST). The stock opened at Rs 1315.0 and has touched an intraday high and low of Rs 1325.75 and Rs 1308.9, respectively, during the session so far.