Experts Financial News

Charlie Munger may come across as a sidekick to the legendary Warren Buffett who built Berkshire Hathaway's enormous empire worth $785 billion simply by buying and holding stocks for the long term. But in reality, Munger was picked by the 'God of Stocks' as his second-in-command for being smarter and wiser than him. The 64-year-old partnership between the dynamic duo shows many unusual traits — the two titans never had an argument and would sometimes make decisions without consulting each other. The mutual trust and respect never faded between the 'Jai and Veeru' of Wall Street. While Munger, who passed away today at the age of 99, lived in Los Angeles, his best friend and partner-in-crime Buffett lived 1,600 miles away in Omaha. «The two men speak a few times every month on the phone, and they likely meet less than 3 to 4 times a year,» NRI investor Mohnish Pabrai wrote in his book 'The Dhandho Investor'.

If you’re looking to buy a winter home, it might be a good time to enter the cooling market with prices dipping and inventory rising in some of Canada’s popular ski regions.

IREDA at the bourses was better than Street expectations with a robust 56% over the issue price. This reflects investor sentiment about the strong fundamentals and growth potential of the company. Post the listing, the stock rallied a further 18% and is currently trading at Rs 59.19 on BSE, up 85% over the IPO price of Rs 32. Despite solid listing gains, analysts are quite bullish on the stock from a long-term perspective.

Fund houses earlier used to name their schemes as per their choice, but the new names have ELSS and/or tax saver in them. For example, ICICI Prudential Long Term Equity Fund (Tax Saving) is renamed ICICI Prudential ELSS Tax Saver Fund. Similarly, Mirae Asset Tax Saver Fund will now be called Mirae Asset ELSS Tax Saver Fund. New names for tax saver funds

Franklin Templeton Mutual Fund said Janakiraman Rengaraju, currently the deputy CIO & Senior Portfolio Manager, will assume the role of Chief Investment Officer, Emerging Market Equities – India. Janakiraman will take over from Anand Radhakrishnan, CIO, Emerging Market Equities – India, who will leave the firm effective January 12, 2024, to pursue other opportunities, said a press release. In his new role, Janakiraman will work closely with Avinash Satwalekar, President, Franklin Templeton – India to further strengthen the equity franchise in India, supported by a 16-member team of investment managers and experienced analysts. He will continue to be based at the Franklin Templeton offices in Chennai and will report to Sukumar Rajah, Senior Managing Director & Director of Portfolio Management – EME Asian Equity. Janakiraman joined the firm in 2007 and has close to 27 years of experience in investment management. In his 16 years with Franklin Templeton, he has built an excellent track record in managing various funds. He currently manages several equity funds, including Franklin India Prima Fund, Franklin India Smaller Companies Fund and Franklin India Flexi Cap Fund.

Zee Entertainment Enterprises Ltd. fell 2.58 per cent to Rs 249.1 in Wednesday's trade as of 02:09PM (IST) even as the benchmark Nifty ruled at 20065.05, up 175.35 points. The scrip had closed at Rs 255.7 in the previous session.

Stock market today: As investors are eagerly awaiting for the announcement of Tata Technologies IPO allotment status, Tata Motors shares witnessed buying interest among Dalal Street bulls during morning deals. This helped Tata Motors shares to extend its rally and touch new all-time high of ₹702.80 per share on NSE. While climbing to this new peak, Tata Motors share price today managed to deliver more than 75 per cent return to its positional investors in YTD.

lithium extraction from California’s Salton Sea, as per a report in the LA Times. The analysis found an estimated 18 million metric tonnes of lithium reserves in the depths of the Salton Sea. Lithium is an element that is essential for electric vehicle (EV) batteries and renewable energy storage systems.

BSE market cap climbing to the $4 trillion mark. The surge comes after Fed Governor Christopher Waller flagged a possible rate cut in the months ahead. Also, FPI turning back buyers of Indian equities, recent upgrades by multiple global brokerages, decent earnings for the second quarter, and a fall in crude oil aided the gains.

Midcap stocks have outperformed the benchmark indices in 2023. These high-growth companies are often picked up by institutions based on factors such as liquidity and valuation. Currently, the wind is flowing towards midcaps and smallcaps as compared to largecaps as euphoria is still building up in the broader market.

Siemens Ltd. slipped 0.33 per cent to Rs 3633.45 in Wednesday's trade as of 02:04PM (IST). It hit a high of Rs 3689.85 and low of Rs 3586.3 during the session.

ICICI Lombard General Insurance Company Ltd. fell 0.84 per cent to Rs 1438.3 in Wednesday's session as of 01:54PM (IST) even as the equity benchmark Sensex traded 624.6 points higher at 66798.8. Earlier in the day, the stock witnessed a gap up start to the session.

Bharat Electronics Ltd. fell 0.39 per cent to Rs 140.8 at 01:59PM hours (IST) on Wednesday. Earlier in the day, the stock saw a gap up start to the session.

Situationship', 'swiftie', 'beige flag' and 'de-influencing' are among the eight words on the shortlist for Oxford Word of the Year for 2023, officials said on Wednesday. According to officials at the Oxford University Press (OUP), the eight words will be opened up to head-to-head voting by the public with one winner emerging from each of those competitions, narrowing the field down to just four finalists.

PI Industries Ltd. traded 0.84 per cent up at Rs 3770.2 at 01:49PM (IST) on Wednesday, even as BSE benchmark Sensex gained 632.11 points to 66806.31.

GRAP III restrictions lifted in Delhi-NCR as air quality improves Yesterday the Centre revoked restrictions under Stage-III of GRAP in the entire NCR with immediate effect. Post this decision, the ban on BS III petrol and BS IV diesel four-wheelers in Delhi, Gurugram, Faridabad, Ghaziabad, and Gautam Budh Nagar has been lifted. On 2 November, the pollution control panel of the Central government implemented Stage-III restrictions, instructing the cessation of non-essential construction work, mining, and stone-crushing.

Stock market today: Shares of Indian Renewable Energy Development Agency (IREDA) Ltd listed on BSE and NSE at ₹50 per share levels, delivering over 56 epr cent listing gain to the lucky allottees against the IREDA IPO price of ₹30 to ₹32 per share. However, IREDA share price further extended its gains and went on to hit intraday high of ₹55.85 per share on NSE, logging around 75 per cent rise against the upper price band of the public issue.

InterGlobe Aviation Ltd. traded at Rs 2689.65 on BSE at 11:36AM (IST) on Wednesday, up 1.73 per cent. The stock quoted a 52-week low price of Rs 1810.45 and a high of Rs 2745.95.

Cholamandalam Investment & Finance Company Ltd. traded 0.21 per cent up at Rs 1108.55 at around 11:26AM (IST) on Wednesday. The stock had closed at Rs 1106.2 in the previous session.

Au Small Finance Bank Ltd. traded at Rs 740.8 on BSE at 11:31AM (IST) on Wednesday, up 0.51 per cent from previous close. The stock quoted a 52-week low price of Rs 548.15 and a high of Rs 794.95.

Aster DM Healthcare rallied nearly 15% to Rs 382 in Wednesday's trade on BSE after the firm announced that it would sell its stake in its Gulf business to Alpha GCC Holdings for $1.01 billion as it looks to separate its businesses in India and the Middle East. The sale is anticipated to be completed in quarter 4 of the financial year ending 2024. “The board of directors of Affinity approved the sale of shares held by Affinity in Aster DM Healthcare FZC to Alpha GCC Holdings Limited and the execution of definitive agreements in connection with the Transaction,” said Aster in a filing. The buyer, owned by Aster India's promoters and funds managed by Fajr Capital Advisors Limited, will have a shareholding ratio of 35:65, respectively.