Experts Financial News

Tata Power share price declined nearly 3% in early trade on Thursday after the company reported its earnings for the quarter ended September 2023. Tata Power shares fell as much as 2.96% to ₹247.35 apiece on the BSE. Tata Power Company reported a growth of 8.79% in its consolidated net profit for the July-September quarter on a year-on-year (y-o-y) basis at ₹1,017.41 crore.

A major proxy adviser with significant sway over Origin Energy investors has recommended they back a near-$20 billion takeover proposal for the electricity and gas giant despite describing it as an “uphill battle” given opposition from the company’s largest shareholder.

Federal regulators say a new version of the popular diabetes treatment Mounjaro can be sold as a weight-loss drug

It’s a great time to be in the market for a midsize truck

The German government’s panel of independent economic advisers is forecasting that the country's economy will shrink by 0.4% this year and grow only by a relatively modest 0.7% next year

gold jewellery on Dhanteras eve and around Diwali because it is considered auspicious. However, it is important to note that gold jewellery is normally available in either 22karat, 18Karat or 14Karat purity. This is because gold with 22Karat, 18Karat and 14Karat level of purity is considered good — in terms of strength and malleability of the metal -for making jewellery. In the case of diamonds set in gold, 18Karat gold is used to make the jewellery as purer gold of 22 karat is considered too soft to securely hold the diamonds. The price of gold quoted by the newspapers is 24Karat gold (999 purity) which is traded on the MCX. As the purity level of 22Karat will be lower than 24Karat gold, the price will also be on the lower side. Given below are the prices of 22Karat, 18Karat and 14Karat gold from India Bullion and Jewellers Association Ltd. (IBJA). Prices in the table are as on November 8, PM rates.

Nazara Technologies jumped nearly 4% to the day's high of Rs 864.60 on the NSE on Wednesday after the company reported a 53% jump in its consolidated profit after tax (PAT) to Rs 24.2 crore for the September quarter as against Rs 15.8 crore in Q2FY23. The revenue grew by 13% to Rs 297.2 crore versus Rs 263.8 crore in Q2FY23. With today's gains, the stock has maintained its three sessions trading streak and gained nearly 10% during the rally. The diversified gaming and sports media platform announced its July-September quarter earnings on Wednesday after market hours.

Benchmark NSE Nifty index rose 2.5 points to 19441.0 amid selling in frontline bluechip stocks. However, stocks such as HP Adhesives, Compuage Infocom, Lords Chloro, Winsome Yarns and Fourth Dimension Sol, touched their fresh 52-week low.

These nine equity schemes were from ELSS, flexi cap, focused fund, large & mid cap, and large cap fund categories. Two large cap, focused funds, flexi cap funds, and ELSS funds offered less than 8% in a three year horizon. One large & mid cap fund also offered less than 8%. We considered all equity schemes like large cap, mid cap, large & mid cap, small cap, ELSS, multi cap, flexi cap,focused fund, contra and value. We considered regular and growth options.

Protean eGov Technologies Lmited IPO: Finalisation of share allocation is likely to take place soon after closure of Protean eGov Technologies Lmited IPO subscription on Wednesday. In the wake of T+3 listing regime, Protean eGov Technologies Lmited IPO listing date is most likely on 13th November 2023.

Prestige Estates while Jefferies recommended a buy on JB Pharma. ICICI Securities has a buy rating on Jyothy Labs and Elara Capital recommended a buy on Uno Minda. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Citigroup on Prestige Estates: Buy| Target Rs 982 Citigroup maintained a buy rating on Prestige Estates but raised the target price to Rs 982 from Rs 693 earlier. The 2QFY24 results were very strong pre-sales and execution.

Thursday as investors preferred booking profit in the absence of triggers for bullion. The prices in gold and silver declined despite a weak dollar index (DXY). MCX December gold futures were trading at Rs 59,901 per 10 gram, up by Rs 108 or 0.18% from the Thursday closing price.

Delta Corp and Gujarat Narmada Valley Fertilizers (GNFC). 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. The MWPL for Delta Corp stood at 97.8% on Wednesday with OI reported by Trendlyne at 15.5 million.

Sunny Agrawal, Head of Fundamental Equity Research, SBI Securities, “for FY23, Mrs Bector’s has reported net sales of around Rs 1,362 crore and net profit of Rs 90 crore. Our estimate suggests that sales are likely to expand from Rs 1,362 crore in FY23 to Rs 1,891 crore, almost Rs 1,900 crore in FY25 and net profit of Rs 90 crore from FY23 to Rs 167 crore in FY25. ” Just going through some of the buy calls that you are issuing out. I just wanted to get a sense of names like Mrs Bectors Food right now. I have picked up this one because you have already seen a massive rally in the stock year to date. How much more of an upside do you think the stock can garner on a 12-month basis? And what makes you so bullish on this story? My price target for Mrs Bectors Food is around Rs 1358. As we all know, Mrs Bectors Food is one of the leading players in the biscuit and bakery category in North India. Their biscuit brand is Cremica and on bakery side, English Oven is the brand which they are riding the rally on.

“The 3Cs, namely, capex, credit growth, and consumption (more so discretionary, upper end and luxury) are themes which must find a way to get into the portfolio of investors,” says Devang Mehta, Director – Equity Advisory, Spark Capital Private Wealth Management. In an interview with ETMarkets, Mehta said: “4Fs — Financialisation, Formalisation, Fiscal expenditure by the government & Farm income growth are the themes which will play out in an economic upturn and select sector and companies who are part of this theme will show robust growth and profitability,” Edited excerpts: The festive season has begun, and we are seeing signs of stabalisation as volatility has reduced. How are you looking at markets? India's festive season usually runs for several weeks until Diwali with millions of Indians binging on food, gifts, and home improvements.

Day trading guide for stock market today: After showing an upside recovery from the intraday lows on Tuesday, Indian stock market shifted into a gradual upside move with range bound action on Wednesday. Nifty 50 index and BSE Sensex eneded marginally higher whereas Bank Nifty index finished in red territory. The 50-stock index Nifty ended 36 points higher at 19,443 levels whereas 30-stock index Sensex closed 33 points higher at 64,975 mark.

Sensex ended 33.21 points higher at 64,975.61, while the Nifty 50 gained 36.80 points to settle at 19,443.50. Also Read: 7 things that changed for the stock market overnight - Gift Nifty to drop in US Treasury yields and oil prices Nifty 50 formed a small body candle on the daily chart with minor upper and lower shadow.

Gold prices edged higher in early Asian hours on Thursday, helped by a dip in US Treasury yields, while investors looked forward to comments from U.S. Federal Reserve Chair Jerome Powell for more clues on interest rates. FUNDAMENTALS * Spot gold was up 0.2% at $1,953.74 per ounce by 0128 GMT after hitting its lowest since Oct.

Vedanta Resources (VRL) bond investors demanded the company pay at least 75% of the principal and interest on the bonds maturing in January next year and 25% on those maturing in March 2025. For the remaining portion of the two bonds maturing in 2024 and 2025, investors want fresh notes valued at 1.3 of each existing bond. The proposal was sent by Cleary Gottlieb Steen & Hamilton LLP, a law firm, on behalf of the bondholders holding 25% of $1 billion bonds maturing in January 2024 and $1.2 billion in March 2025. The group said they together hold the blocking stake in each of the bonds.

Global Capability Centres (GCC) are bucking the broader industry’s hiring downtrend. This year, GCC hiring could climb up to 30% from last year, with four out of five facilities adding jobs, data accessed by ET showed. Fresher hiring by GCCs will mainly benefit premier institutes, experts said. This comes as the top Mumbai-listed IT services companies, otherwise among the leading absorbers of fresh engineering and management talent, have decided to skip the campuses.

domestic mutual funds bought shares worth Rs 253.61 crore. With this, Honasa Consumer has emerged as the latest addition to the growing list of new-age stocks finding traction among domestic mutual funds. An analysis of shareholding patterns of new-age firms such as Zomato, Paytm, Delhivery, Nykaa and PB Fintech, showed mutual funds have increased their holdings in several of these companies slowly but significantly over the last four quarters.