Merit Financial News

IFGL Refractories surged almost 8 percent on Wednesday, extending gains for the fourth straight session to hit a new high on the back of robust September quarter (Q2FY24) earnings. The stock rose as much as 7.8 percent to its record high of ₹874 in intraday deals today. It has now soared 344 percent from its 52-week low of ₹196, hit on March 28, 2023.

There’s nothing like a looming scheme meeting to put the cat among the pigeons.

banks and NBFCs, Reserve Bank of India's Governor, Shaktikanta Das on Wednesday said banks must constantly evaluate their exposure to NBFCs and exposure of individual NBFCs to multiple banks. «Given the increasing importance of NBFCs (Non-Banking Financial Company), the increasing interconnectivity between banks and non-banks merits close attention.

In the rapidly evolving realm of DeFi, decentralized exchanges (DEXs) stand as a cornerstone, enabling seamless transactions in a trustless environment. 

Delhi High Court has asked low-cost airline SpiceJet's Managing Director Ajay Singh to appear before it in January in proceedings relating to a dispute over interest dues on arbitral award of over Rs 570 crore passed in favour of media baron Kalanithi Maran. «Ajay Singh, the Managing Director, shall remain present on the next date of hearing,» Justice Manoj Kumar Ohri said in the order passed on Monday and listed the matter for further hearing on January 10 next year. Ajay Singh had earlier also appeared before the high court on August 24.

The parent company of Atomic Wallet, a popular cryptocurrency wallet, has filed a motion in a United States court seeking the dismissal of a class action lawsuit. 

Joe Biden ends nearly every speech by saying he's «never been more optimistic» about the country's direction. But lately he also has begun painting a vision of a catastrophic future for the United States — that is, if Donald Trump returns to the presidency. Biden in recent days has accused the former Republican president of being «determined to destroy American democracy» and being out for «revenge» and «retribution.» Biden's reelection campaign is sending more emails with stark warnings: «Trump's America in 2025: A Unilateral National Abortion Ban» and «Trump's America in 2025: Mass Detention Camps.» Trump has proposed the largest operation to arrest and deport migrants in U.S.

Hemang Jani, Independent Market Expert, says “the way TVS has responded to the EV threat and come out with various products, makes it look very compelling and it has been the best performing stock in the last about 12 months. But in terms of valuations, I still prefer a Bajaj or a Hero compared to a TVS because it has run up so much.” TVS Motors is not cheap by any valuation metric but the stock is continuously doing very well, from Rs 1,450 odd, it is knocking at Rs 1,700. Ahead of the Ola Electric IPO, people are noticing that even TVS Motor has a very large EV play, which is at least 65-70% of Ola Electric operations and numbers. Could there be a case of value unlocking in TVS? We see growth revival across the two-wheeler sector versus the passenger or the commercial vehicles. People had this thought that maybe the two-wheeler segment is not growing, and there is an issue on the rural side. But the recent numbers, the festive season sales, clearly suggest that the two-wheeler growth is back. The new launches that are in the premium category have received a good response. In TVS, earlier, 40% of their portfolio had the risk of disruption because of the EV and it was not very clear as to how exactly the company is going to deal with it. But the way the company has responded to that and come out with various products, it looks very compelling, which is why TVS has been the best performing stock in the last about 12 months.

EB2 NIW (national interest waiver) Visa offers numerous benefits, such as bypassing the labor certification process and the ability to self-petition, making it an attractive option for those seeking to make a significant impact in their field. Attracting top talent to work in the United States for the nation’s benefit is the fundamental aim of the EB2 NIW Visa. Eligible individuals can self-petition for a green card through this visa category, bypassing the typical labor certification process and job offer prerequisites.

The Michigan Department of Civil Rights filed a charge of discrimination against Studio 8 Hair Lab in Traverse City

Virat Kohli neared his hundred. When he got there, with a typically hard-run brace, the crowd lost its collective mind. But, Kohli knew exactly what to do: he bowed down to Sachin Tendulkar in the stands, whose record of 49 ODI centuries he had crossed, blew three kisses to Anushka Sharma, his wife, and accepted a mid-pitch hug from Kane Williamson. Kohli had hit the trifecta: achieving something even the best in his trade could not do, the love and support of a good woman and the respect and admiration of his peers.

A US District Court for the Southern District of Florida has ceremoniously rejected the requests for class certification by investors who have taken legal action against the Robinhood platform.

Dabur entities, that were listed as defendants in multiple lawsuits in the United States alleging their products caused cancer, have found relief from the court. The India-headquartered FMCG major, in a statement, noted that Dabur International and Dermoviva Skin Essentials – two of its subsidiaries – have been removed as defendants in the lawsuits filed before the the US District Court for the Northern District of Illinois.

Dabur International and Dermoviva Skin Essentials, have been removed as a defendant in multiple lawsuits filed in a US court over allegations that their hair-relaxer products caused ovarian cancer, uterine cancer and other related health issues. However, lawsuits filed against its third international subsidiary Namaste Laboratories LLC, would continue before the US District Court for the Northern District of Illinois, according to a statement from Dabur on Wednesday.

Karoon Energy is raising around $US300 million ($460 million) via Macquarie Capital, to fund the purchase of assets in the Gulf of Mexico from the privately held LLOG Exploration Company.

BSE Sensex, which has delivered an approximate 16% annualised return over the last decade, underscores the potential of diversifying your investment portfolio with equities. A study by CRISIL Research has revealed that equity mutual funds have outperformed other asset classes over the long term. Over the past 30 years, equity mutual funds have recorded an average annual return of 15%, surpassing the 10% for fixed deposits and 12% for gold.

Samvat 2080. The Hindu accounting year began with an upgrade from global brokerage Goldman Sachs which said India is expected to see “the best structural growth prospects in the region” with mid-teens earnings growth over the next two years. The market’s strategic appeal, particularly given its largely domestically driven growth, offers investors a wide array of alpha-generating themes, including make-in-India, largecap compounders and midcap multibaggers, Goldman said. Here’s what Dalal Street’s top 5 market moguls say on money-making opportunities in Samvat 2080: Sunil Singhania We think there is still merit, particularly in some of the larger second-tier banks. We are seeing performances on the fundamental side in terms of their NII, operating profit, and PAT growth. Their ROEs are now comparable to some of the larger banks and the asset quality is spic and span.

A mere 14% of American voters currently believe that their financial situation has improved since President Joe Biden took office, raising concerns about the potential repercussions for his re-election prospects. A recent poll reveals that approximately 70% of voters perceive the president’s economic policies as either detrimental to the U.S. economy or having no impact at all, with 33% expressing the view that these policies have “hurt the economy significantly.” In contrast, only 26% of respondents believe that Biden’s policies have been beneficial.

Bank of Montreal, Royal Bank of Canada and others have been left holding millions of Crescent Point Energy Corp. shares after leading a $500-million equity raise that failed to win widespread institutional investor support, according to people familiar with the matter.

Craig Morgan, a recent enlistee in the U.S. Army Reserve and a 59-year-old country music icon, recently spoke about the profound importance of the annual day of remembrance as the nation observes Veterans Day. He stressed that it was a very special day to celebrate those who served.

N Jayakumar, MD, Prime Securities, says “it is a stock picker's market as far as the small and midcap end is concerned. We have to be really careful about IPOs. Almost by corollary and by default, we are extremely bullish on being in the larger end of the markets and from that point of view, there are a lot more buys in the larger end and the largecaps also offer a combination of liquidity, valuation comfort and the overall theme that India is the destination of choice for so many people has never been more amplified.” India is in great form not only on the cricket pitch, but also as far as markets are concerned. When you look at the comparative landscape, all the economies are suffering, markets are not doing great but we are barely under 5% from all-time high. We may not have done well on the index front but midcaps have been doing great for the longest period of time. Is this enthusiasm justified or are we seeing early phases of froth building in parts of the market? We have seen the froth build up in one, the small SME exchanges where IPOs have been going gangbusters, listing premiums have been large and virtually every company which has gone there has been able to sail through. It has also been there in some of the small and midcap end of the market. So, at least in the listed space, while we can talk about the space as a whole, inevitably veterans will tell you that we are able to dig out gems even in this market even though certain spaces are overheated.