Experts Financial News

Earnings preview: Experts expect more misses than hits in Q2; how can it impact market sentiment? The projections suggest that the earnings in the second quarter will generally remain steady, characterized by a mix of successes and shortcomings. Notably, IT sectors might show weaker figures, while industries like BFSI (banking, financial services, and insurance), auto, and pharma are expected to report robust performances. October 11 (Monday): Delta Corporation, Plastiblends India, Samhi Hotels, SignatureGlobal India, Tata Consultancy Services, and Zaggle Prepaid Ocean Services.

Customers may need a dose of patience at U.S. pharmacy counters as those businesses start their busiest season

Real estate consultants and developers welcomed the RBI MPC decision on Friday to keep the repo rate unchaged for the fourth consecutive time, which was much needed albeit the looming inflationary pressure arising from the rising crude prices and rupee depreciation.

Satellite reveal alarming data – the ozone hole over Antarctica is expanding rapidly. This year, it has reached unprecedented dimensions, currently measuring three times the area of Brazil.

DLF, HDFC AMC and IndusInd Bank are top three buy ideas from Rupak De, Senior Technical analyst at LKP Securities, for the week ahead. DLF, he said, has broken out of its recent consolidation pattern and has consistently remained above its crucial moving average. Edited excerpts from a chat: With little participation from bank stocks, Nifty eked out a modest gain in the week. How does the trade set-up look like now? Nifty ended the week with a modest gain despite selling in the banking sector. Overall, the sentiment is expected to stay positive as long as it maintains above the critical support level of 19,500 as put writers are likely to offer support at this level. On the upside, resistance is positioned around 19,750-19,800. A strategy of buying on dips would be favorable as long as it holds above 19,500.

Stock to buy: Indian Railway Catering and Tourism Corporation or IRCTC share price has given strong upside movement in the week gone by. Ater making its bottom at ₹663 apiece levels in September 2023, IRCTC share price gave fresh breakout at ₹675 and sustained above ₹700 apiece levels.

Bitcoin traded between US$27,500 and US$27,800 this week. Factors such as a surge in the US 10-year Treasury yield by 11 basis points to reach 4.8% on Tuesday, and traders capitalizing on recent profits, led to a period of consolidation. The immediate resistance levels for Bitcoin on the upside are located around US$27,650 and subsequently US$28,000. A decisive breakthrough above the US$28,000 resistance level could trigger another bullish run. However, if Bitcoin fails to maintain its upward momentum, the next support level is positioned around US$27,400, with further support possibly at US$27,200. It's noteworthy that Bitcoin has demonstrated a remarkable year-to-date performance, surging by 65%, although it remains down by 59% from its all-time high. In parallel with Bitcoin, Ethereum closely followed a similar trajectory in its price action. Ethereum initiated an attempt at recovery, originating from the US$1,630 zone. Key resistance levels for ETH are seen at US$1,650 and then US$1,720. Failing to breach these immediate resistance levels could lead to a retracement, with the next crucial support situated at US$1,600. Despite a 66% decline from its all-time high, Ethereum has shown resilience in 2023, registering a 34% increase year-to-date.

Buy or sell stocks: On account of strong global market cues, Indian stock market advanced for second straight session on Friday last week. Nifty 50 index gained 107 points and closed at 19,653 levels, BSE Sensex shot up 364 points and ended at 65,995 mark whereas Bank Nifty index finished 147 points higher at 44,360 levels.

mental fitness becomes a top priority. For Nitish Mittersain, Joint Managing Director and CEO of Nazara Technologies, achieving this balance is crucial. “I have crafted a regimen that combines physical activity, intellectual stimulation, and a commitment to self-care.

Sanmit Infra have offered hefty returns to investors in the last 10 years, surging as much as 9,400% over the decade. Accordingly, if an investor had invested Rs 10,000 in the stock 10 years ago and stayed put, the investment would have swelled into nearly Rs 9.4 lakh, according to an analysis by ET Markets. In the last five-year period, the shares have jumped nearly 6,000% and about 1050% in the past three years. Sanmit Infra, a smallcap stock with a market cap of just over Rs 1,000 crore, is engaged in the business of distribution of petroleum in India. It is also into two other divisions — bio medical and infrastructure. It has an EPS of 0.30 on a trailing twelve month (TTM) basis and the stock is currently trading at a PB of 39.11. According to the latest shareholding pattern available with the exchanges, promoters own a majority of the stake at 72.33%, while the rest of 28% lies with public shareholders. Among public shareholders, mutual funds and foreign investors have no stake.

₹7.05 apiece levels at the end of March 2023 and since then Suzlon share price has been skyrocketing. In last six months, this penny stock has tunred one of the multibagger stocks of Dalal Street that Indian stock market has delivered in FY24.

Also Read: Delhi's air quality on upswing, likely to enter 'poor' category soon The air quality in the city reached the "poor" category on Friday for the first time in 114 days. This hadn't occurred since June 14 when the AQI was recorded at 213. Experts have cautioned that the situation is expected to worsen as winter approaches and the burning of paddy in agricultural states like Punjab and Haryana increases.

Trump gave key details on the US Navy’s elite submarine fleet — including the number of nuclear warheads they can carry and how close they can get to Russian vessels without being detected — to Australian billionaire Anthony Pratt, who passed the information on to dozens of friends and contacts, according to ABC News and The New York Times. The alleged disclosure is only the latest in a string of cases that raise grave questions about Trump’s willingness to keep the nation’s secrets — an issue that’s only going to remain front and center given his commanding lead in the polls to secure the Republican nomination to challenge President Joe Biden again next year.

Qantas says it provided feedback to Transport Minister Catherine King on a request from Turkish Airlines on July 7, two weeks before the minister denied the airline had asked for permission to fly to and from Australia.

By Diane Bartz and David French

New Delhi: The implementation of 28% goods and service tax (GST) on online gaming, horse racing and casinos will informally figure in discussions at Saturday’s GST Council meeting as the Centre is keen to see the new regime takes effect without hassles, said a person informed about Centre-state discussions. The idea is to see how far states have put their legislative changes in place for the contentious tax regime change which had dragged for several months before a divided GST Council cleared the new regime at its meeting on 2 August.

The crypto market is once again making headlines as Bitcoin ($BTC) gains momentum and surpasses the $28,000 mark. Notable tokens sharing this spotlight are Pepe ($PEPE) and InQueta ($QUBE). The former has experienced a significant surge in its value, while the latter, $QUBE, has raised an astounding $3.4 million in its ongoing presale campaign.

New Delhi: The Supreme Court is set to rule whether the government can be considered a secured creditor when an insolvent company has not paid its dues. The judgment is expected to have a bearing across the bankruptcy resolution spectrum, since treating such dues on par with loans from secured creditors will diminish the payouts to the latter. Under India’s Insolvency and Bankruptcy Code (IBC), secured creditors such as banks and financial institutions get priority in getting repaid through the resolution process, while unpaid dues to vendors, suppliers and government dues are treated as operational credit, and they fall lower in the so-called waterfall mechanism.

₹14,400 crore in August after a five-month hiatus, according to NSE data. For instance, stand-alone mid-cap schemes of mutual funds attracted flows of ₹10,999.73 and small-cap schemes ₹21,803 crore from March to August. Large-cap schemes witnessed outflows of ₹4,676.95 crore in comparison.