Experts Financial News

Mint explains why the outcome of the meeting may be good news for India. It's a highly ambitious project is aimed to building infrastructure and connectivity across Asia, Europe and Africa in an effort to reconstruct 21st century versions of a terrestrial and maritime silk road. Many observers saw the project as an effort by China to export its surplus capacity in construction and other fields to foreign nations while also linking their markets to China’s economy.

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Rushil Decor rights issue: Shares of Rushil Decor is among the newsmaker stocks on Dalal Street. This small-cap stock with a market cap of around ₹928 crore is soon going to discuss and approve fund raise through rights issue.

PI Industries Ltd. traded 0.02 per cent down at Rs 3509.6 at 12:58PM (IST) on Thursday, even as BSE benchmark Sensex dropped 92.82 points to 65784.2.

PVR Inox has reported a consolidated net profit of Rs 166 crore for the quarter ended September 2023. The company had posted a loss of Rs 71 crore in the year-ago period. Revenue from operations during the quarter jumped 191% to Rs 2,000 crore against Rs 686 crore in the same quarter of last year. The company reported an EBITDA of Rs 706 crore during the second quarter, which also jumped multifold from Rs 154 crore in the corresponding quarter of the previous year. EBITDA margins improved significantly to 35.3% in the reporting period, compared with 22.4% a year ago. The company got a blockbuster boost from 'Jawaan' and 'Gadar 2', which were ranked among highest-grossing Hindi films of all time, during the second quarter.

SRF Ltd. gained 0.41 per cent to Rs 2253.9 in Thursday's trade. It hit a high of Rs 2260.4 and low of Rs 2218.35 during the session.

Elon Musk’s social media platform X is charging a $1 fee to new users in the Philippines and New Zealand

State Bank of India (SBI) can now transfer their accounts to any branch of the bank online and offline. Online account transfers simply require the branch code. Also read: How to check SBI CIF number: Here are 4 ways According to the SBI’s reply on its social media account, X, on how CIF could be changed, “If you are using Internet Banking, please login on https://onlinesbi.sbi and navigate to e-services >> Transfer of Account >> Transfer of Home (CIF) Branch, select the branch name from the list, click Proceed and follow onscreen instruction to transfer the home branch of CIF. Alternatively, you may submit your application for CIF transfer at your home branch or at the branch where you want to transfer your CIF. First of all visit Online SBI website. Online SBI.”

The automotive experts at Edmunds test SUVs of all shapes, sizes and prices

By Darya Korsunskaya and Alexander Marrow

There is no dearth of people looking to earn money from the stock market. The Indian stock market is open to both novices and veterans who display their skills in selecting stocks and investing in them. Statistics shared by Motilal Oswal Financial Services in January 2023 reveal how the number of demat accounts went up by 34 per cent by December 2022, a stark increase compared to the number of accounts opened by stock market investors in the previous year.

Vedanta Ltd. traded at Rs 228.7 on BSE at 11:21AM (IST) on Thursday, down 0.69 per cent from previous close. The scrip quoted a 52-week low price of Rs 207.85 and a high of Rs 340.75.

Escorts Kubota Ltd, part of the tractor segment, has rallied more than 40% in the last 3 months to hit a fresh record high in October and the chart pattern suggests that the rally may not be over yet. Medium-term investors can look to buy the stock on dips for a possible target of 3800-4000 in the next 3 months, suggest experts. The stock rose from Rs 2376 as of July 14, 2023, to Rs 3365 recorded on 16 October 2023 which translates into an upside of over 40% in 3 months. The stock hit a record high of Rs 3435 on 11 October 2023. It witnessed marginal selling pressure, which was in line with muted market sentiment, but the upside remains intact, suggest experts. The stock gave a breakout from a month-long consolidation last week which has opened room for the stock to head towards fresh record highs on the daily charts. “Despite closing at an all-time high, Escorts has provided a positive upward breakout with high volume.

Hemang Jani, Independent Market Expert, says What the market would like about Paytm and Zomato is the fact that the operating prices are improving month on month. We have all the data points, the user and the way they have gone about, let us say in case of Zomato, the subsidiaries part, they have been able to kind of curtail the losses and the core offering is getting better, the user base is expanding. In the case of Paytm, if you see the loan products, the wealth product, growth is evident and it is a very profitable business. Once that happens in front of you, that gives you that confidence to participate in that. Jefferies is pretty bullish on Paytm, saying that the growth momentum is only going to continue. What is your outlook on Paytm? Do you just ignore some of the ups and downs that they have had because the long-term prospects look strong or is it an avoid? In Paytm, we have been having a positive view for a while and our take is that on a monthly basis the user base is expanding and more importantly the path to profitability is looking much better.

Domestic benchmark index NSE Nifty fell 104.65 points to 19566.45, while the BSE Sensex traded 362.95 points down at 65514.07. On the other hand, Shakti Pumps, GKW Ltd, DB(Intl)Stock, PNB Gilts and Jindal Poly Investm stocks hit their fresh 52-week highs today.

Bajaj Auto jumped over 5% to hit a 52 week high of Rs 5,395 on the NSE on Thursday as the Street cheered BofA's post earnings commentary on the stock and its upward revision of the price target. The domestic brokerages have kept a mixed view on the two-wheeler stock. In the domestic pack, Kotak Institutional Equities recommended a Sell, while Nuvama and Motilal Oswal took a hold and neutral stance, respectively raising concerns on exports outlook.

IndusInd Bank jumped 2.5% to the day's high of Rs 1,456.50 on the NSE on Thursday following strong September quarter earnings posted by the private lender on Wednesday post market hours. The stock was among top Nifty gainers in the early trade riding on the fresh impetus provided by favourable views from top brokerages. Among the ones who came out with their post-earnings review of the stocks were BofA, Kotak Institutional Equities and Nuvama and all of them have a buy view on the counter.

equities lost steam as inflation and rate hike concerns resurfaced. Despite the noise around macroeconomic risks, one thing that investors have kept their faith on is the domestic growth story. A glimpse of this could be seen in the strong inflows in thematic/sectoral funds.

The NSE Nifty index traded 101.3 points down at 19569.8, while BSE Sensex was down 345.45 points at 65531.57 as of 10:50AM(IST)on October 19. In the Nifty index, LTIMindtree Ltd.(up 4.57 per cent), Bajaj Auto Ltd.(up 4.39 per cent), IndusInd Bank Ltd.(up 2.97 per cent), Hero MotoCorp Ltd.(up 1.95 per cent) and Bharat Petroleum Corporation Ltd.(up 0.50 per cent) were among the top gainers.

CIE Automotive India Ltd. with a target price of Rs 575.

Indowind Energy(up 4.86%), RTNPOWER(up 4.83%), Jaiprakash Power Ventures(up 4.71%), Energy Development Company(up 4.68%), GE Power India Limited(up 3.12%), Suzlon Energy(up 2.42%), NLC India(up 1.36%), Adani Power(up 1.29%), Orient Green Power Company(up 1.09%) and Inox Wind Energy(up 0.79%) were among the top gainers. Torrent Power(down 2.29%), Alstom T&D India(down 1.88%), PTC India(down 1.26%), Kalpataru Projects International(down 1.19%), Voltamp Transformers(down 1.02%), SJVN(down 0.88%), Power Grid Corporation of India(down 0.87%), Hitachi Energy India(down 0.68%), KEC International(down 0.67%) and KPI Green Energy(down 0.66%) were among the top losers.