Experts Financial News

As September draws to a close, on-chain activity is surging, and the latest token to capture the attention of traders is AstroPepeX (APX) - which has undertaken a dramatic +30% bounce out of consolidation in the past 24-hours.

Tata Power Company to Ba1 from Ba2 and maintained a stable outlook while observing that the company's underlying business and financial profile will remain stable at least over the next 12 to 18 months. «The rating upgrade to Ba1 is driven by Tata Power's solid financial metrics, which are projected to remain above the upgrade trigger set for the earlierBa2 rating,» Moody's Analyst Yong Kang said. In a note, Moody's said it could upgrade Tata Power's rating if the company's standalone credit quality improves, such that its CFO pre- WC/debt rises above 13%on a sustained basis. Tata Power's rating incorporates the company's standalone credit quality and a one-notch uplift for shareholder support in Tata Sons, the note said adding that company's standalone credit quality is supported by predictable cash flow from its distribution businesses that benefit from a stable regulatory framework, and from its fixed-tariff long-term power purchase agreements (PPAs) for its renewable generation capacity. Under Moody's base case projection, Tata Power's operating cash flow pre-working capital to debt (CFO pre- WC/debt) will remain solid at 9%-11% over the next two to three years. Although the projected credit metrics are lower than the actuals recorded in fiscal 2023, Moody's expects Tata Power to be able to sustain these credit metrics. Tata Power's takeover of distribution companies in Odisha and the subsequent improvement in its operations, underpinned by declining electricity losses, have strengthened its business profile, the note said.

₹175 crore in FY19 to ₹362 crore in FY22, a year-on-year increase of 27%. This is still less than 3% of the total CSR spending leaving the bulk of funds untapped for tourism development. If planned better, “Adopt a Heritage 2.0" can leverage these funds to create thriving tourist ecosystems across India, and those ecosystems are sorely needed.

Vedanta Resources and also on its outstanding debt to “CCC” from “B-”. The move comes two days after Moody’s Investors Service slashed the conglomerate’s rating.

work-from-office model for a while now. In its FY23 annual report, the company stressed the importance of physical interaction among employees.

The Relative Strength Index (RSI) is a versatile momentum oscillator that quantifies the speed and change of price movements. RSI values range from 0 to 100 and help investors determine whether a stock is overbought (above 70) or oversold (below 30). Here's why RSI is a crucial tool for investors: Now, let's explore the 10 stocks that were in the overbought zone on September 28, Thursday: 1) Tata Investment Corporation Ltd. RSI: 87.7 Prev.

The NSE Nifty index ended the session 114.75 points up at 19638.3, while BSE Sensex rose 320.09 points to 65828.41. In the Nifty index, Hindalco Industries Ltd.(up 5.53 per cent), NTPC Ltd.(up 3.59 per cent), Hero MotoCorp Ltd.(up 2.94 per cent), Dr.

steel production and financing options for decarbonising the industry. Key stakeholders, industry experts, and government officials attended the meeting to discuss ways to achieve sustainability and decarbonisation in steel production on Thursday, the Ministry of Steel said in a statement on Friday.

The NSE Nifty index closed 114.75 points up at 19638.3, while BSE Sensex ended up 320.09 points at 65828.41. On the other hand, Adani Enterprises Ltd.(down 2.48 per cent), LTIMindtree Ltd.(down 1.05 per cent), HCL Technologies Ltd.(down 0.57 per cent), Tech Mahindra Ltd.(down 0.54 per cent) and Power Grid Corporation of India Ltd.(down 0.50 per cent) were among the top losers of the day.

By Jason Lange, Andrew Goudsward, Sarah N. Lynch and Nathan Layne

Click here!) Recent trends of the market show gains in the market followed by a fresh wave of selloff. Experts think this may change in October. "The ‘sell on rally’ market construct is likely to change in October.

Accenture warns of first-quarter revenue below estimates as IT spending remains under pressure (Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Experts underscore that Accenture's fourth-quarter performance and Q1FY24 outlook have raised concerns about the Indian IT sector over the near-term demand environment. "Accenture's management highlighted CMT (communications and media consulting) and North America as the key weak area, which we see as negative for Tech Mahindra (about 40 per cent communications exposure).

Jet Airways said in a statement. «The consortium's strategy to revive the airline remains unaltered. The new promoters are determined to re-establish the operations of the airline up and running in 2024.

Tatva Chintan Pharma Chem with a target price of Rs 2000. The current market price of Tatva Chintan Pharma Chem is Rs 1579.15. Tatva Chintan Pharma Chem Ltd., incorporated in the year 1996, is a Small Cap company (having a market cap of Rs 3684.25 Crore) operating in Chemicals sector.

Som Distilleries & Breweries Ltd. with a target price of Rs 385.

The firm also said it has entered into a long-term power-purchase agreement (PPA) with GRIDCO for 400 megawatts on September 28, 2023. “With this, the entire power of 2400 MW has been tied up on a long-term basis with Tamil Nadu- TANGEDCO (1500 MW), Puducherry- PED (100 MW), Kerala- KSEBL (400 MW) and Odisha- GRIDCO (400 MW),” the company said in an exchange filing. At 11.01 a.m., the scrip was trading 3.2% at Rs 132.4 on BSE.

midcap stocks and doubling money in SME IPOs won't relate to the pain of India's bluechip investors whose top dogs have failed to beat even the benchmark Nifty returns. A study of the performance of BSE500 stocks in the last two years shows that there are 158 counters with negative returns during the period. But what has actually caused heartburn to those looking for consistent compounders is the hibernation phase of top wealth creators like Infosys, HDFC Bank, RIL, TCS and Asian Paints. Largecap IT stocks now top the list of wealth destroyers in the last two years under the leadership of Wipro which has lost over 36% of its value as the Covid-led growth tailwind faded away.

Russian business leaders want to use “digital assets” and a “single digital currency” to trade with BRICS members and other “friendly” nations.

Bonus shares 2023: DP Wires are one of those multibagger stocks that has delivered whopping return to its shareholders in post-Covid rally. In these near three and half years time, this stock has rallied from around ₹50 apiece levels to over ₹700 per share levels, delivering over 1300 per cent return to its positional shareholders, who did bottom fishing during Covid-19 sell off.

Emami shares climbed 5% to Rs 537.8 in Friday's trade on BSE after the company announced its entry into the health juice category with the acquisition of a 26% stake in Axiom Ayurveda, which markets a range of beverages under the brand name AloFrut. “We are delighted to announce our partnership with Axiom Ayurveda through a strategic investment in equity.

Prakash Industries Ltd, part of the iron & steel industry, has almost doubled in the last 3 months to hit a fresh 52-week high in September 2023 and the chart patterns suggest that the rally may not be over yet. Medium-to-long-term investors can look to buy the stock for a possible target of Rs 268-338 in the next 2-4 quarters, suggest experts. Prakash Industries, which is also part of the S&P BSE Smallcap index, rose from Rs 70.20 as of 26 June 2023 to Rs 139.30 recorded on 26 September 2023 which translates into an upside of 98% in just 3 months. The momentum pushed the stock to a fresh 52-week high of Rs 142.75 as of 21 September 2023. Most of the technical indicators suggest further upside in the stock. The smallcap stock picked up momentum after it broke out from a multi-year resistance placed at Rs 105 on 24 August 2023.