Experts Financial News

Plaza Wires have been maintaining a strong upward trend since their listing, hitting the upper circuit limit with each passing day. The company's shares got listed on the stock exchanges on October 13, 2023, raising ₹71.3 crore through the initial public offering (IPO). The IPO received a tremendous response from investors, as it was subscribed to 160.98 times.

By Sophie Yu and Brenda Goh

Naveen Kulkarni, CIO, Axis Securities, says “we will have to wait and watch what exactly the auto companies report in terms of their overall numbers. But as far as Maruti is concerned, we were expecting a good set of numbers but these numbers definitely look better than what we were anticipating.” We were expecting good numbers from Maruti on the back of a richer product mix, volume push and so on but is 13% margin something that you were working with? Were you expecting a similar number on that front? No. We were definitely expecting a margin which was lower than what they have reported. Of course, we will have to look at whether there are any one-offs or if there is any deferment of marketing expenses and things like that but 13% EBITDA margin is definitely above our expectations. But do you see a similar situation for the rest of the auto OEMs because we will watch out for more management commentary from Maruti Suzuki, especially how they are looking at demand but do you believe Tata Motors and M&M can also see such performance going ahead? Again, it will vary from one company to another company. M&M has a completely different mix of products. M&M, of course, has a very large tractor portfolio and farm equipment portfolio, so that has a meaningful impact on revenues.

On the BSE, Sungold Media and En(down 20.00 per cent), SBL Infratech(down 19.11 per cent), JLAInfraville&Shop(down 10.00 per cent), Margo Finance(down 9.99 per cent) and Integrated Capital(down 9.47 per cent) stood among the top losers in today's trade. In the Nifty pack, 42 stocks closed in the green, while 7 stocks ended in the red.

Orissa Minerals Development Company(up 6.26%), Pokarna(up 5.12%), KIOCL(up 4.99%), Coal India(up 2.85%), Gujarat Mineral Dvpt Corporation(up 1.92%), Ashapura Minechem(up 1.65%), NMDC Ltd(up 1.55%), Oriental Trimex(up 1.54%), Aro Granite Industries(up 1.07%) and Lexus Granito(up 0.26%) stood among the top gainers. MOIL(down 0.74%) and Madhav Marbles and Granites(down 0.51%) were among the top losers of the day.

Domestic benchmark index NSE Nifty ended 190.0 points up at 19047.25, while the BSE Sensex closed 634.65 points up at 63782.8. On the other hand, Cupid Ltd, Hind Rectifiers, Swan Energy, AGC Networks and Dynacons Sys stocks hit their fresh 52-week highs today.

rupee ended little changed after trading in a narrow range on Friday on a lack of fresh triggers and amid intermittent dollar sales by the central bank to prevent a fall towards the record low. The rupee closed at 83.2450 against the U.S. dollar compared with its close at 83.23 in the previous session. The central bank likely sold dollars on Friday near 83.25 levels but the intervention was not aggressive, traders said.

Edelweiss Mutual Fund has decided to limit the lumpsum investment (including switch-ins) in Edelweiss Recently Listed IPO Fund. The fund house has decided to limit the subscription to Rs 2 lakh per transaction. This change will be effective from November 6 until further notice. The fund house informed this through a notice-cum-addendum on October 27. The fund house also stated that investments through systematic investment plan (SIP), systematic transfer plan (STP) and other facilities/special products offered will remain unchanged.

Gautam Kalia, Head-Super Investor, Sharekhan By BNP Paribas, says “investors who have spent some time in the market and who have got a certain amount of experience consider trigger SIPs to enhance their SIP returns. Also most of these investors have a large lump sum amount. So when you have a large lump sum amount but you are not extremely comfortable with current market valuations and then you want to move that money in a staggered form back into the market that is really when trigger SIPs work wonders for investors.” The rule of SIP is to never stop it if you want to really make the most of your investment in mutual funds via SIPs. Markets are always going to be volatile, but then discipline is the key ingredient to having a great corpus and maybe even to get the power of compounding activated. In what way do you think it is a bad financial call to stop your SIP? The easiest way to explain it is you go to a shop regularly to buy clothes and you go to the same shop one day to shop and you realise that things are on sale and that is the one day you decide not to buy because things are on sale and really that is how you need to view the market as a long term SIP investor.

Maruti Suzuki India (MSIL) jumped over 4% to hit their fresh 52-week high of Rs 10,845 on the NSE following a robust September quarter earnings during market hours on Friday. It was one of the most active stocks on the NSE around 2:30 pm. The price action lifted the Nifty Auto index, which turned out to be the top performing index on Friday with all 15 stocks trading in the green.

Benchmark NSE Nifty closed 190.0 points up at 19047.25 amid buying in frontline bluechip counters. However, stocks such as BCL Industries, Talbros Auto, Sterlite Tech, Godha Cabcon & Insul and Nakoda Group Of Ind, touched their fresh 52-week lows.

stock market. The data was sourced from StockEdge at 1:55 p.m., and the updates from the real-time data could come with a lag. The below data also pertains only to the time at which it was taken. (Data Source: StockEdge) 1.

FIIs), Nifty index declined 3.4% in the October series. The Nifty futures rollovers at the start of the November series stood at 83% versus 79% in the last three series, a Nuvama report said.

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Master Capital Services pointed out that a few important factors impacting the US markets are the US 10-year bond yield crossed 5 per cent on hawkish commentary by US Fed Chairman Powell hinting at more rate hikes to control inflation. "It is expected that there will be further rate hikes by the US Federal Reserve as inflation is still not in control. The US unemployment rate also spiked to 3.8 per cent in August, the highest since Feb 2022.

₹9 lakh under single ownership and ₹15 lakh under joint ownership. POMIS offers an interest rate of 7.4% payable monthly. PPF is a popular long-term savings scheme in India.

Bonus shares, stock split effect: Investing in stocks or public issues is like investing in business. As per majority of the successful stock market investors, one should try and hold one stock as long as one can becuase it helps an investor to get some extra benefit that a listed company announces from its capital reserves. These rewards could be in the form of bonus shares, dividends, buyback of shares, stock split, etc.

bonds provide investors with a comparatively secure and reliable investment alternative. Because they are guaranteed by the Indian government, these bonds are among the safest investments in India. Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here According to Abhijit Roy, CEO, of GoldenPi, in the Indian bond market, government bonds are crucial pieces of equipment that the government uses to raise money.

Rupesh Goel’s father received approximately Rs 1 crore after the acquisition of his inherited farmland by the Government. In an email sent to FE Money recently, Rupesh shared that his father wants to buy a flat in his name with the money received from the Government. All the transactions for the purchase of the property will happen from his father’s bank account. Rupesh asked whether he would have to face any taxation on the purchase of the flat. Also, is there any way in which he can avoid such a tax?

Question: We are an Indian-based entity with various group companies in foreign jurisdictions. There are many intercompany transactions with such group companies which are subjected to a lower withholding tax rate in accordance with the relevant treaty owing to MFN. Kindly highlight the recent Supreme Court judgement in the case of applicability of the Most Favoured Nation MFN.

Ambuja Cements Ltd. traded at Rs 417.45 on BSE at 11:47AM (IST) on Friday, up 0.42 per cent from previous close. The stock quoted a 52-week low price of Rs 315.3 and a high of Rs 598.15.