Experts Financial News

The net inflows into small-cap and mid-cap equity mutual funds declined marginally month-on-month in September 2023, according to AMFI data.

SKF India, the country’s leading bearings manufacturer has launched ‘Open Innovation’ initiative to accelerate innovation and create more sustainable and customer-oriented solutions under the intelligent and clean strategy.

In the maze of taxation and financial planning, the Income Tax Act generously extends numerous deductions to smart investors. One can significantly reduce taxable income through careful planning and investment in specified avenues.

₹14,091 crore in September due to a risk-off sentiment in the stock markets, mutual fund body AMFI said on Wednesday. Net inflows into small-cap funds were down by 37% at ₹2,678.47 crore in September and into midcaps declined by 20% to ₹2,001 crore. “We believe the decline has happened because of the high valuations in the market.

Tamil Nadu government announced an increase in tax rates for new two-wheelers, cars, and other vehicles. As per a TOI report, this move is expected to raise the overall cost of vehicles in the state.

midcap stocks achieved unprecedented milestones by reaching new 52-week highs on October 12. These notable performances underscore the growth potential and strength of these companies, offering investors a diverse range of opportunities in the midcap segment. The data was sourced from StockEdge at 1:15 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.

The stance of RBI's monetary policy and the policy rates remained unchanged. The RBI maintained its position of «withdrawal of accommodation» and left the repo rate unchanged at 6.5%. The changes in MCLR, will make EMIs linked to MCLR expensive. Most of the banks one year MCLR is linked to consumer loans. Also read:HDFC Bank hikes base rate, interest rates on these loans; check latest rates Bank of Baroda Bank of Baroda revised its latest marginal cost of funds-based lending rates (MCLR). These rates are kept unchanged from previous rates. The rates will be effective from October 12, 2023. The bank's overnight marginal cost of funds-based lending rate (MCLR) will be 8%. For one-month, three-month, and six-month terms, BoB applies 8.25%, 8.35%, and 8.45% MCLR, accordingly. The one year MCLR stands at 8.70%.

₹2,021.95 in morning trade on BSE, a day after the company informed the board of directors that the company will meet on Monday, October 16 to consider a fundraising. The stock opened at ₹1,994.95 against the previous close of ₹1,979.50 and rose 2.14 per cent to hit its 52-week high. "A meeting of the board of directors of Grasim Industries is scheduled to be held on Monday, 16th October 2023, to consider the proposal for raising funds by way of equity shares or other securities through a rights issue, qualified institutions placement (QIP), preferential issue or any other method as may be permitted under the applicable law, subject to such regulatory/statutory approvals as may be required," Grasim said in an exchange filing on Wednesday.

The NSE Nifty index was trading 4.9 points up at 19816.25, while BSE Sensex was up 12.0 points at 66485.05 at the time of writing this report. In the Nifty index, Coal India Ltd.(up 2.02 per cent), Bharat Petroleum Corporation Ltd.(up 1.69 per cent), Maruti Suzuki India Ltd.(up 1.56 per cent), Hindalco Industries Ltd.(up 1.35 per cent) and NTPC Ltd.(up 1.26 per cent) were among the top gainers.

TTK Prestige with a target price of Rs 830. The current market price of TTK Prestige Ltd.

ICICIdirect on Thursday said some of its retail customers are facing difficulty in placing orders due to a connectivity issue at BSE. «You may face difficulty in placing trades on BSE exchange as there is a connectivity issue at BSE. You can place your trades at NSE, which is working fine.

Bajaj Electricals with a target price of Rs 1470. The current market price of Bajaj Electricals Ltd.

₹1,490.50 apiece on the BSE, lower than previous close of ₹1,493.65 apiece. On NSE, Infosys shares opened at ₹1,491.90.Infosys is likely to report a net profit of ₹6,422.5 crore in Q2Fy24, registering a growth of 8% from ₹5,945 crore in the April-June quarter of FY24. The net profit is expected to grow 6.7% YoY."We expect steady deal-wins and conservative commentary on the demand environment.

Gold rate today: On account of dovish stance shown by US Fed officials in Wednesday's US Fed's minutes release, gold price today extended its rally and regained ₹58,000 per 10 gm mark on Multi Commodity Exchange (MCX). MCX gold price today opened upside at ₹58,045 per 10 gm levels and went on to hit intraday high of ₹58,075 levels within few minutes of commodity market's opening bell.

Day trading guide for today: On account of positive strong global cues, Indian stock market ended higher for second straight session on Wednesday. Nifty 50 index gained 121 points and closed at 19,811 levels, BSE Sensex shot up 393 points and ended at 66,473 mark whereas Bank Nifty index added 156 points and finished at 44,516 levels. In broad market, small-cap index went up 0.77 per cent whereas mid-cap index gained 0.55 per cent.

President Joe Biden said Wednesday observing that the terrorist attack by Hamas has brought back painful memories of a millennia of antisemitism and genocide against the Jewish people. Biden termed Saturday's attack the «deadliest day» for Jews since the Holocaust. «We continue to monitor the situation in Israel very closely, and the vice president and I and the bulk of my security team spoke with the Prime Minister, Netanyahu, again this morning,» Biden said.

Naveen Jindal, the promoter of Jindal Steel and Power, is understood to have put in an expression of interest (EoI) to buy insolvent airline Go First, multiple highly placed sources close to the development told ET. The Wadia family-owned Go First is India's first commercial carrier to have voluntarily sought bankruptcy protection. The EoI has been submitted by unlisted Jindal Power, which is owned by Worldone Pvt Ltd, a closely held company of Naveen Jindal. Green foray It is not clear whether the company is looking to acquire the airline outright or come in as a strategic investor, the sources cited above said. There were two other bidders for the airline, officials said, but they did not meet the eligibility criteria set out by the creditors. «The government, the legal ecosystem and regulators are moving as swiftly as possible on the legalities to save the airline,» said an official, requesting not to be named.

With Israeli airstrikes marking thefifth day of escalating conflict between Israel and Hamas on Wednesday, experts are warning of rising oil prices and inflationary pressure as a potential consequence of the ongoing hostilities.

NPS scheme for NRIs: Non-resident Indians (NRIs) aged 18 to 60 can invest in India's National Pension Scheme (NPS) by adhering to KYC norms. The NRIs can make contributions to NPS from their NRO/NRE account. NPS offers diversification across financial securities and asset classes (Equity, Corporate Bonds, Government Securities). NRIs can choose their investment mix based on risk appetite. There are two fund management schemes: Active Choice and Auto Choice, catering to individual preferences.

In the crypto world, where expert opinions carry weight, Glassnode co-founder Yann Allemann weighs in on the debate regarding Bitcoin’s ($BTC) price outlook. According to him, a major drop in the value of Bitcoin is unlikely. In other news, a notable development in the crypto scene is the growing buzz around an emerging token and its ongoing presale, InQubeta. This token, lying at the intersection of AI and blockchain, has attracted attention and capital from savvy investors.