Experts Financial News

City gas distribution player Torrent Gas Limited has appointed Manoj Jain as its Managing Director with effect from 1 January, 2024. Before this, Jain was the Chairman and Managing Director of GAIL (India) Limited from February 2020 to August 2022. «Jain is a seasoned business leader with an excellent track record across multiple areas within GAIL and is widely considered an expert in the Oil and Gas sector.

TBO Tek, a leading travel distribution platform, has filed a draft offer document with market regulator Sebi to raise funds through an IPO. The issue includes fresh equity of Rs 400 crore and an offer for sale of up to 1.56 crore shares. Under the OFS, promoters Gaurav Bhatnagar, Manish Dhingra, LAP Travel and other selling shareholders TBO Korea, Augusta TBO will offload the shares. TBO simplifies the business of travel for suppliers such as hotels, airlines and retail buyers such as travel agencies and enterprise buyers that include tour operators, and travel management companies through the two-sided technology platform that enables suppliers and buyers to transact seamlessly with each other. The platform connects over 1,47,000 buyers across more than 100 countries with over one million suppliers, as of June 2023.

Vivek Karwa, CEO, VRIDHI Investment, says his two bets in safe sparklers include ICICI Bank and Piramal Pharma. “ICICI Bank is a very safe bet among the largecaps. It would be the safest as no stop loss is required and you can buy as much as you can. Piramal Pharma, is definitely a volatile stock, but I am putting it in a safe category because after a long time, after the split happened, the company has shown profits and the management is very clear that here on, things are going to be good.” We have decided to split the top picks in three different categories; safe sparklers, high risk rockets and value bombs and I have heard that you do not have one, but two in each category that you will advise investors to look at. I did not know one was enough and that is the reason I said two. Absolutely, more the merrier. Splitting into three categories is an interesting idea because no two investor is the same. Their risk appetites are not the same. And hence anyone wanting to choose can choose accordingly.

Read here: SBI, L&T and more: ICICI Direct lists 7 stocks to buy this Diwali With a positive outlook ahead, what strategy should you follow in the next year? Here's what experts recommend. Despite global uncertainties, India remains a shining star and is expected to maintain its outperformance.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of MintGenie. We advise investors to check with certified experts before taking any investment decisions.Pranav Haridasan, MD & CEO, Axis SecuritiesMilestone Alert!Livemint tops charts as the fastest growing news website in the world

My father bought a house in Mohali in 1986. The how has now been transferred to me and my brother after the death of my parents. My brother lives in India and I am a Citizen of Canada since 2008. Now we are selling that property. Do I have to pay tax on that sale and How much?

The lure of the yellow metal can be unwavering. So much so that many investors ensure to make a significant allocation to gold investments. With the prices of gold constantly fluctuating and even touching a decent bottom in recent years, many investors have started investing in gold exchange-traded funds (gold ETFs). 

Balrampur Chini Mills(up 0.86%), EID Parry(up 0.59%), Ponni Sugars(Erode)(up 0.36%) and DCM Shriram Industries(up 0.20%) were among the top gainers. BAJAJHIND(down 4.12%), Ugar Sugar Works(down 3.45%), Shree Renuka Sugars(down 3.29%), MAGADHSUGAR(down 2.42%), K.M.Sugar Mills(down 2.36%), Kothari Sugars & Chemicals(down 1.85%), Triveni Engineering & Industries(down 1.39%), AVADHSUGAR(down 1.16%), Rana Sugars(down 1.13%) and Vishwaraj Sugar Industries(down 1.12%) were among the top losers.

Ashok Leyland Ltd. traded 0.02 per cent up at Rs 173.6 at 11:11AM (IST) on Thursday, even as BSE benchmark Sensex dropped 18.17 points to 64957.44. The stock had closed at Rs 173.55 in the previous session.

Bharat Forge Ltd. gained 1.09 per cent to Rs 1045.6 at 11:05AM (IST) in Thursday's trade. The scrip hit a high of Rs 1045.6 and low of Rs 1033.05 so far during the session.

In November, banks are closed on the occasion of Kannada Rajyothsava/Kut/Karva Chauth, Wangala Festival, Govardhan Pooja/Laxmi Puja (Deepawali)/Diwali, Diwali (Bali Pratipada)/Deepavali/Vikram Samvant New Year Day/Laxmi Puja, Bhaidooj/Chitragupt Jayanti/Laxmi Puja (Deepawali)/Ningol Chakkouba/Bhratridwitiya, Chhath, Seng Kutsnem/Egaas-Bagwaal, Guru Nanak Jayanti/Karthika Purnima/Rahas Purnima and Kanakadasa Jayanthi. Bank holidays in November 2023:Banks closed for up to 15 days in November; check state-wise bank holiday list In total, banks across different states will be closed for 15 days in November to observe numerous festivals and national events. Digital services like UPI, Mobile Banking, and Internet Banking are unaffected by bank holidays, customers can use them throughout. For Diwali and Dhanteras, banks across states will be closed for six days (this includes Sunday and the second Saturday).

Info Edge (India) Ltd. traded 1.2 per cent up in Thursday's trade at 10:55AM (IST). Around 2,312 shares changed hands on the counter.

Pokarna(up 5.84%), Gujarat Mineral Dvpt Corporation(up 1.97%), Orissa Minerals Development Company(up 1.38%), Aro Granite Industries(up 0.74%), Oriental Trimex(up 0.70%) and Coal India(up 0.25%) were among the top gainers. Lexus Granito(down 4.63%), KIOCL(down 3.67%), MOIL(down 2.45%), Ashapura Minechem(down 2.03%), Madhav Marbles and Granites(down 0.60%), NMDC Ltd(down 0.25%) and Sandur Manganese & Iron Ores(down 0.07%) were among the top losers.

Grindwell Norton Ltd. with a target price of Rs 2604.

The NSE Nifty index traded 19.75 points down at 19423.75, while BSE Sensex was down 53.13 points at 64922.48 as of 10:49AM(IST)on November 09. In the Nifty index, Mahindra & Mahindra Ltd.(up 2.40 per cent), Apollo Hospitals Enterprise Ltd.(up 1.86 per cent), Tata Motors Ltd.(up 1.50 per cent), IndusInd Bank Ltd.(up 1.49 per cent) and Hero MotoCorp Ltd.(up 1.19 per cent) were among the top gainers.

Nifty was trading near the flatline on weekly expiry day after forming a small-bodied bearish candle on the daily chart. OI data indicates short covering in Nifty on Wednesday and short build-up in Nifty Bank. «For the current weekly series, 19500 call has significant open interest, followed by 19600 strikes. On the put side, 19400 has significant open interest, followed by 19300 strike implying the zone of 19410-19390 will act as immediate support for the index.

MphasiS Ltd. gained 0.22 per cent to Rs 2187.1 in Thursday's trade as of 10:50AM (IST). It hit a high of Rs 2198.2 and low of Rs 2177.1 during the session.

Chambal Fertilisers & Chemicals(up 2.47%), Agro Phos(up 1.24%), Aries Agro(up 1.10%), Mangalore Chemicals & Fertilizers(up 0.85%) and Coromandel International(up 0.48%) were among the top gainers. Gujarat Narmada Valley Fertilizers (down 2.51%), Krishana Phoschem(down 2.16%), National Fertilizer(down 1.51%), Khaitan Chemicals & Fertilizers(down 1.45%), Fertilizers & Chemicals Tranvancore(down 1.39%), G S F C(down 1.39%), Rashtriya Chemicals & Fertilizers(down 1.23%), Sikko Industries(down 1.12%), Deepak Fertilizers & Petrochemicals(down 0.80%) and Southern Petrochemicals Industries(down 0.73%) were among the top losers.

US dollar in morning trade on Thursday, as the crude oil price and the American currency retreated from their elevated levels. However, a muted trend in domestic equities and sustained foreign fund inflows weighed on the investor sentiments. At the interbank foreign exchange, the rupee opened at 83.25, higher by 5 paise over its previous close.

DPSC(up 7.60%), Jaiprakash Power Ventures(up 5.42%), Reliance Power(up 4.89%), Orient Green Power Company(up 4.79%), RTNPOWER(up 4.52%), KPI Green Energy(up 2.82%), Adani Power(up 1.55%), JSW Energy(up 1.12%), Suzlon Energy(up 1.07%) and KEC International(up 0.84%) were among the top gainers. Tata Power Company(down 2.31%), Inox wind(down 1.99%), SJVN(down 1.56%), Alstom T&D India(down 1.45%), GE Power India Limited(down 1.40%), Hitachi Energy India(down 1.13%), Karma Energy(down 0.87%), ADANIGREEN(down 0.60%), Adani Energy Solutions(down 0.38%) and Inox Wind Energy(down 0.25%) were among the top losers.

rupee closed at 83.27 against the US dollar. However, a muted trend in domestic equities and sustained foreign fund inflows weighed on the investor sentiments. “The rupee is anticipated to maintain its strength, thanks to the ongoing support from domestic factors, which remain robust due to a promising demand outlook driven by major festivals," CR Forex Advisors MD Amit Pabari said.