Performer Financial News

If you're going to leave your job in an investment bank, you will not normally do it in the depths of the year just months before bonuses are paid.

Gold is an efficient asset class that provides safety and acts as an efficient hedge against inflation. Hence it is better to invest in a portfolio that includes gold, says a study conducted by Windmill Capital, a wholly-owned subsidiary of smallcase Technologies Pvt Ltd. The study indicates that demand for gold is likely to remain robust during the festive season, especially Diwali.

As the festive season approaches, Flipkart, India’s leading e-commerce platform, is gearing up to delight its customers with an array of irresistible smartphone deals during its Big Diwali Sale. The sale, which is already on and will run until November 11th, offers a plethora of attractive discounts, cashback offers, and exchange benefits on a wide range of smartphones from popular brands.

The luxury housing segment in India, comprising units priced at Rs 4 crore and above, maintained strong sales momentum in the Jan-Sep’23 period, registering a 97% Y-o-Y increase, according to CBRE’s ‘India Market Monitor Q3 2023’ report.

stock market witnessed an impressive rally as several Nifty 200 stocks broke through their 50-day Simple Moving Average (SMA) on November 7. These stocks span various sectors, indicating a positive outlook for the broader market. Let's explore the performance of these stocks.

Rohit Srivastava, Founder, Indiacharts.com, says “there is room for more upside but not a runaway move. 44,800 may be the best case for Bank Nifty, for example, on the upside right now. We are not looking beyond that. That could happen post-Diwali, looking at the way the market is pausing at this level right now.” Given that Nifty is range-bound and Nifty Bank again continues to appear to be weak, how are you looking at both the indices? Where can we find some breakout coming in both these indices? I think above 19,450 is going to be the first hurdle that Nifty is facing. We are pretty close to that and once we get past that, we should head towards 19,700. Even in the Bank Nifty, we are very close to the 40-day average, which is at around 43,680. And above that, we can go towards maybe 43,800 or slightly higher than that also.

ICC World Cup 2023: Australia's all-rounder Glenn Maxwell single-handedly took his team to the semi-finals as he crushed Afghanistan with an unbeaten 201. Australia was in a dire position at 91/7 and Afghanistan almost took the game home when the Big Show arrived on the crease and he was just unstoppable. Despite injuries, Glenn Maxwell kept slamming boundaries and finally took his team to victory.

These 21 schemes were from mid cap, small cap, multi cap, ELSS, large & mid cap, and flexi cap categories. Around eight mid cap schemes offered more than 20% in the 10-year horizon. Seven small cap, three large & mid cap, one ELSS, flexi cap, and multi cap schemes also offered more than 20% in 10-year horizon. We considered all equity schemes like large cap, mid cap, large & mid cap, small cap, ELSS, multi cap, flexi cap,focused fund, contra and value. We considered regular and growth options.

Godrej Industries reported a sharp drop of 44.1% year-on-year (YoY) in its net profit for the quarter ended September 2023 at ₹87.3 crore. The company had posted a net profit of ₹156.2 crore in the corresponding quarter of last year. The company’s consolidated revenue from operations in Q2FY24 declined 2.1% to ₹3,937.61 crore from ₹4,021.04 crore, YoY.

General Elections, inflation and interest rate trajectory are the key risks. "Any possible mandate from the forthcoming General Election, which leads to political instability or any possible spike in global oil prices (due to strong recovery in global economic growth) significantly beyond $120 a barrel will lead to Sensex falling below 55,000. These are two key risk factors for the domestic market in the next one year," said G.

Prince Pipes & Fittings, India's leading integrated piping solutions provider and multi-polymer manufacturer, witnessed a remarkable surge in its stock price during Wednesday's trading session, driven by the company's strong Q2FY24 performance. For the September ending quarter (Q2FY24), the company reported a net profit of ₹71 crore, a significant improvement compared to the net loss of ₹24 crore in the same period last year. The company's Q2FY24 results include an exceptional item of a net gain of ₹17.93 crore related to the settlement of the registration of its corporate office at The Ruby, Dadar, Mumbai, based on a valuation report, as per the company's earnings report.

Lupin Ltd that is seeing renewed investor confidence as is reflected in more than 65% rise in share price during the last six months, is also expected to report a strong performance for the quarter ending September led by the new launches in the US markets. In the July to September quarter (Q2FY24), analysts at Motial Oswal Financial Services Ltd.

National Australia Bank, ANZ and Westpac have lifted interest rates for borrowers after the Reserve Bank raised the official cash rate by 0.25 of a percentage point on Tuesday to 4.35 per cent.

Magellan Financial shareholders have registered a large protest vote against the fund manager’s board, with the company’s new chairman, Andrew Formica, urging investors to focus on the company’s strong balance sheet and its plans for the future.

Myer’s largest shareholder, billionaire businessman Solomon Lew, has urged the retailer’s board to update the market on the performance of the department store, flagging concerns that three key leaders are exiting the company in close succession.

Yatharth Hospital & Trauma Care Services, one of the leading private super specialty hospitals in Delhi NCR, jumped 10.75% to ₹414.95 apiece in Wednesday's early trade. This strong spike was in response to the company's stellar performance in Q2FY24. The company on Tuesday posted a 34% YoY improvement in revenues, reaching ₹171 crore.

₹470.3 billion, almost doubling the total value of share buybacks in 2022. A few more companies, including TCS and Somany Ceramics, have also announced buybacks worth ₹171.25 billion that will be executed this year. As buybacks are a more tax-efficient way of rewarding shareholders than paying dividends, an increasing number of companies are choosing this route.

Alberta is planning to dismantle its provincewide health provider and may sell off its publicly owned continuing-care facilities, say leaked cabinet briefing documents released by the Opposition NDP.

Alkem Laboratories share price rallied over 6% to hit a 52-week high on Wednesday after the company’s better than estimated September quarter results prompted some brokerages to raise target price on the stock. Alkem Laboratories shares rallied as much as 6.08% to a fresh record high of ₹4,272.00 apiece on the BSE. Alkem Laboratories stock had ended more than 5% higher in the previous session on November 7 after the company announced its Q2FY24 earnings.

NCC, Som Distilleries and Breweries and Allsec Technologies. The brokerage house suggests buying these stocks and adding on dips for a time horizon of two to three quarters. Also Read: Alkem Laboratories share price rallies over 11% in two days after Q2 results beat estimates; brokerages raise target Here are fundamental picks by HDFC Securities: NCC has a well‐diversified order book, robust execution capabilities, strong focus on debt reduction and improvement in working capital.

Hindalco Industries Ltd’s share prices gained up to 1.81% in the opening trades on Wednesday as its US subsidiary Novelis Inc. performance for the quarter ending September encouraged with per tonne profitability improving for third quarter in a row. The volume recovery also remains a key positive and adds confidence to Hindalco's forward outlook.