Experts Financial News

retail investor can look at in the next six months, i.e. till next summer.

SM REITs, with an asset value of at least ₹50 crore vis-a-vis minimum asset value of ₹500 crore for existing REITs.The decision was approved at the meeting of the board of the Securities and Exchange Board of India (Sebi) in Mumbai. Industry experts welcomed the Sebi decision to regulate fractional ownership real estate market.

BSE on Tuesday, November 28, as the Supreme Court (SC) concluded hearings on several petitions demanding an inquiry into the Adani-Hindenburg matter and the Securities and Exchange Board of India (Sebi) informed the SC that it does not need additional time to complete its investigation into the Adani Group. Shares of flagship firm Adani Enterprises jumped over 4 per cent but shares of Adani Total Gas surged almost 20 per cent. Shares of Adani Green Energy jumped almost 8 per cent while those of Adani Power surged almost 7 per cent to its 52-week high of ₹423.15.

ET MSME Awards 2023, which is in its fourth edition, will felicitate 26 outstanding MSMEs (micro, small and medium enterprises) of India on December 8. Small businesses will be recognised for their achievements under five broad categories: Overall Industry Awards, Awards by MSME Category, MSME Enabler Awards, Special Category Awards and Industry Focused Awards. The 26 categories fall under these five main categories. The programme is open to any Indian micro, small and medium scale enterprise, as defined by the Ministry of MSME.

Tata Consultancy Services Ltd.(up 0.08 per cent) were among the top gainers. Coforge Ltd.(down 1.54 per cent), MphasiS Ltd.(down 1.27 per cent), Tech Mahindra Ltd.(down 0.81 per cent), HCL Technologies Ltd.(down 0.69 per cent) and LTIMindtree Ltd.(down 0.6 per cent) were the top losers on the index.

Sanjiv Bhasin, Director, IIFL Securities, says “Paytm promoters are the maximum holders and even their shareholding is almost below 10%. So, there are no very big old shareholders. This is only a matter of opportunity to buy this stock. The fintechs, particularly PB Fintech, Paytm, Zomato are headed much higher over a period of time.” What do you make of the Berkshire Hathaway exit for Paytm? Is it going to materially impact the stock, according to you? So, one, it is a buying opportunity. I mean, Berkshire has not exited because it is in profit, it is because of the mistiming of the event before the pre-IPO placement and so on. Paytm is a unique case of fintech and the digital app going extremely positive. Positive news on their NBFC front is also where they are doing kirana lending.

BSE Ltd while Nomura has a neutral rating on Eicher Motors. Also, Elara Capital recommended a buy on L&T and HDFC Securities Institutional Research has a buy on Sai Silks (Kalamandir). We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Jefferies on BSE: Buy| Target Rs 2700 Jefferies initiated coverage on BSE Ltd with a buy with a target of Rs 2700.

The Nifty future closed negative with losses of 0.22% at 19825 levels on Friday. India VIX was up by 0.09% from 11.31 to 11.33 levels.

US Treasury yields, spurred by renewed hopes for an end to the rate hike cycle and as oil prices hovered around $80 per barrel ahead of the OPEC+ meeting. The BSE Sensex was trading 47 points or 0.07% higher at 66,016. Nifty50 was trading at 19,823, up 29 points or 0.15% at around 9.17 am. Domestic macroeconomic data and sustained domestic investor inflows also aided the rise in Indian equities. From the Sensex stocks, UltraTech Cement, Power Grid, NTPC, Wipro, and Axis Bank opened with gains, while ICICI Bank, M&M, Reliance Industries, L&T, and Tech Mahindra opened with cuts. Paytm shares dipped 1.4% after Warren Buffet's investment arm, BH International Holdings exited Paytm's parent through open market transactions in a Rs 1,370 crore deal. Shares of KPI Green Energy rose nearly 4% after the firm received a new order of a 4.66 MW Solar Power Plant under the CPP segment. On the sectoral front, Nifty Metal rose 1.07%, and Nifty Oil & Gas surged 0.83%.

Balrampur Chini, Bharat Heavy Electricals (BHEL), Hindustan Petroleum Corporation (HPCL), Hindustan Copper, Indiabulls Housing Finance, Granules India and Zee Entertainment Enterprises (ZEEL). India Cements, MCX and Manappuram Finance have moved out of the ban. The Future & Options 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 index do not encounter a situation of security ban. The MWPL for Balrampur Chini stood at 87.8% on Friday with OI reported by Trendlyne at 5.9 million.

rupee appreciated 2 paise to 83.38 against the US dollar in early trade on Tuesday, tracking a weak American currency and inflow of foreign funds in the domestic equities. Forex traders said, positive sentiment in the domestic equity markets and lower crude oil price also favoured the Indian currency.

Bharat Forge Ltd. with a target price of Rs 1250.

Taking cues from the international prices, MCX December gold futures opened in the green and were trading at Rs 61,649 per 10 gram, up by Rs 109 or 0.18% from the Monday closing price. Meanwhile, the December silver futures were trading at Rs 74,795 per kg, lower by Rs 11 or 0.01%. On Comex, gold futures were trading at $2,016.10 per troy ounce on Tuesday, up by $3.70 or 0.18% while Silver futures were trading at $24.655, higher by 0.026 or 0.11%. The dollar index was trading at 103.12 against a basket of top six currencies, down by $0.08 or 0.08% though the bias was negative. The December Gold futures ended at Rs 61,546 on holiday shortened Monday, up by Rs 6 or 0.01% while the December silver futures settled at Rs 74,792, lower by Rs 14 or 0.02%.

Apollo Tyres Ltd. with a target price of Rs 525.0.

IREDA IPO: Allotment status of the initial public offering (IPO) of Indian Renewable Energy Development Agency (IREDA) is now available. Those who have applied for the public issue of this state-owned company can check IREDA IPO allotment status online by logging in at BSE website or at the official website of Link Intime Private Limited — official registrar of IREDA IPO. However, after declaration of IREDA IPO allotment, focus has now shifted towards IREDA IPO listing date, which is most likely on 29th November 2023 i.e.

My mother had purchased a piece of land for 8 lakhs 12 years back. Now She is selling it for 33 lakhs to buy a flat. The circle rate of the piece of land is 17 lakhs. As the registration will be done at the circle rate of ₹17 lakh to avoid payment of excess stamp duty, how should we take the balance amount? Can we take it in cash or through online transaction? How can she save maximum tax for this transaction? Will my mother have to file her ITR for this transaction? I would advise you to execute the sale deed at the actual value of the transaction and offer to pay differential amount of stamp duty to the buyer.

Bonus shares 2023: Shares of Integra Essentia Ltd will be in focus today as board of directors of the company has considered and approved bonus share proposal in its meeting held on Monday. Integra Essentia Ltd board gave its approval for issuance of bonus shares in 1:1 ratio, which means one bonus share for each stock held by the eligible shareholders of the company.

Pakistani rupee is set to end the year as Asia’s worst-performing currency and the losses are seen extending into 2024. The currency has fallen about 20% against the dollar this year and analysts say its troubles are far from over. BMI expects the currency will weaken to 350 rupees per dollar by the end of next year, while Karachi-based brokerage Topline Securities Ltd.

With drones finding wider applications, Magellanic Cloud is expecting that its order book from the segment may increase to Rs 200-400 crore in FY24 with the potential of reaching Rs 2500 crore in FY25. “On securing the DGCA license we are confident on getting immediate orders of 100-150 drones and in the course of time we shall look for bigger orders with a smooth facilitation process,” said Sanjay Chauhan, CFO, Magellanic Cloud. Edited excerpts from an interview: After an impressive growth in the first two quarters of the fiscal year, how do things look like for the next two quarters of the fiscal year? We have set an ambitious goal to boost revenue by approximately 30-40% in the fiscal year 2024. This reflects our confidence in our business model and strategic direction. The company is committed to sustaining a robust net profit margin after tax, maintaining a steady 15-20% of revenue from operations. This again demonstrates the determination of Magellanic Cloud towards its growth and aims to establish itself as a leader in the market.

Kirti Panwar, a state government spokesperson, said a dozen men were taking turns burrowing into the debris with hand-held drilling tools for what was hoped would be the final stretch. They had dug nearly 1 meter (3.2 feet) and had up to 11 more meters (36 feet) to go, he said. Rescuers have also started to create a vertical channel with a newly replaced drilling machine, officials said.

Buy or sell stocks for today: Last week, Indian stock market remained range-bound despite Nifty 50 index forming bullish candle on the weekly chart pattern. The 50-stock index went off 7 points and closed at 19,794 levels, BSE Sensex ended 47 points lower at 65,970 mark whereas Bank Nifty index gained 191 points and finished at 43,769 levels on Friday last week.