Strategy Financial News

1. Auspicious beginnings: Muhurat trading marks the commencement of the new year according to the Hindu calendar. It is believed that initiating any significant activity, including financial transactions, during this period brings good luck and prosperity for the upcoming year.

iPhone 15 Pro Max is the top-end variant of Apple’s latest flagship series. The phone is equipped with a unique camera system and features a light build. According to a Counterpoint Research report, the total bill of materials (BoM) cost to produce an 8GB+256GB iPhone 15 Pro Max is $37.7 or 8% higher than that for the 6GB+256GB iPhone 14 Pro Max launched last year.

Having established itself as a leading full-stack real estate service provider during its 17-year-long journey, Magicbricks has now set its sights on expanding the home loan segment. The company is poised to collaborate with more financial institutions and digitize the entire home loan process in a bid to establish one of the largest home lending channel partner networks in the country.

Michael Burry, Rakesh Jhunjhunwala, Charlie Munger, and more who had never attended B-Schools in their lives. Mohnish Pabrai is one of them. This Indian-American businessman and investor is the founder and Managing Partner of the Pabrai Investments Funds while managing Dhandho Funds too.

Mahindra Lifespace Developers, the real estate and infrastructure development business of the Mahindra Group, has decided not to undertake a joint development on a nearly 5-acre land parcel in Mumbai’s western suburb Dahisar owing to significant delays in fulfilment of certain conditions precedent. The company had finalised the terms for this project in October 2021 and the development was estimated to provide around half a million sq ft of carpet area. The terms of this joint development were subject to conditions precedent including regulatory clearances and approvals for effective development of the land parcel in a timely manner. “In the best interest of the company, owing to significant delays in fulfilment of certain conditions precedent, the same shall be discontinued and shall not be pursued,” the company said. Mahindra Lifespace Developers recently acquired 5.38 acres of land in Wagholi locality of Pune. The land is estimated to have a development potential of over 1.5 million sq ft of saleable area. For the quarter ended September, the company has recorded pre-sales of Rs 455 crore for 0.68 million sq ft saleable area in its residential business. The company has a healthy pipeline of business development with Gross Development Value {GDV) of over Rs 5,000 crores, Amit Sinha, Managing Director & CEO, Mahindra Lifespace Developers told investors during its September quarter earnings call. The company has multiple launches coming up in the second half of the current financial year.

Honasa Consumer, which runs Mamaearth and other brands, today fell up to 15% but recovered after global brokerage firm Jefferies issued a report initiating coverage on the beauty and personal care products company. After falling 15% to the day's low at Rs 256.10 in the morning session, Mamaearth shares rallied up to around 4% to Rs 313.50 at noon. «Honasa should report industry-leading growth at 27% over the next 3 years. We value at 6x Sep-25 EV/sales (at a discount to HPC peers; implies 67x FY26 PE) to arrive at a price target of Rs 520,» Jefferies said, while calling it a high conviction buy. Led by founder-couple Varun and Ghazal Alagh, Honasa has prioritised growth over profitability, which Jefferies said is the correct strategy.

Some organisations, especially in the IT sector, recently issued strict orders asking their mid-career professionals to return to the office. Some return-to-office mandates had led to the rise of terms such as coffee badging and office peacocking, which we had discussed recently. But what does this mandate mean from a leader’s point of view?

CarTrade Tech jumped over 13% to hit their 52-week high of Rs 825 on the NSE on Friday following the September quarter earnings posted by the company on Thursday where the online classifieds and auto auction platform reported a 44% jump in its revenue growth and a 132% growth in profit after tax (PAT). Today's gains take stocks' rally to seven sessions in a row. The price action was supported by volumes as 16 lakh shares changed hands on the NSE around 11:15 am. The company recorded a total income of Rs 330.24 crores in Q2FY24 with net revenue reported by it during the quarter at Rs 147.94 crores, the company filing to the exchanges revealed.

Mineral Resources has made another lithiumacquisition less than a week out from the company’s annual general meeting, where billionaire founder Chris Ellison is expected to shed some light on the strategy behind a spate of recent deals.

Adani Ports and Special Economic Zone (APSEZ) reported a rise of 4.2% in its Q2FY24 net profit at ₹1,747.8 crore, compared to ₹1,677.5 crore in the corresponding period last year. The port major's revenue from operations in the quarter ended September 2023 stood at ₹6,646.6 crore, registering a growth of 27.6%, compared to ₹5,210.8 crore in the year-ago period.

CarTrade Tech, a multi-channel auto platform provider, saw its share price skyrocket over 14% to hit a new 52-week high in today's trade following the company's Q2FY24 earnings announcement. The company on Thursday announced its Q2FY24 scorecard after market hours, reporting a net profit of ₹12.97 crore, a 130% jump from a net profit of ₹5.58 posted in the same period of last year.

Dhanteras is the day that marks the beginning of the grand Diwali festivities, a time of celebration and wealth creation! As we immerse ourselves in the radiant glow of lights and the spirit of prosperity, let us explore thirteen enlightening ways to manifest and embrace wealth.

Sandip Sabharwal, asksandipsabharwal.com, says 2024 will be a year of good double-digit gains in the market. 2023 was expected to be a bit dicey in a way because of the rate hike cycle and the impact that it will have on valuations, etc, market selloffs and whether it can create some disruptions. In my view, the time to be worried about higher interest rates is not now, it was earlier. Now we need to look forward and see what will happen as interest rates eventually start coming down.” While nothing is really happening in the market for the last two days, how do you think the year ahead is going to look like? The year ahead will be very good. I believe 2024 will be a year of good double-digit gains in the market. 2023 was expected to be a bit dicey in a way because of the rate hike cycle and the impact that it will have on valuations, etc, market selloffs and whether it can create some disruptions. I believe that a lot of people are now worried about higher interest rates. In my view, the time to be worried about higher interest rates is not now, it was earlier. Now we need to look forward and see what will happen as interest rates are already high and then eventually they will start coming down and what that does to market valuation and overall economic outlook and both of them which are positive.

Diwali 2023 Stock Picks: TheIndian domestic equity market reached all-time highs in 2023 and ended Samvat 2079 on a strong note. Frontline index Nifty 50 breached the 20,000 mark and 20,000 mark gained 10 per cent in this period, while broader indices Nifty mid- and smallcap outperformed with gains of 30 per cent and 36 per cent, respectively. Going ahead, for Samvat 2080, the global geopolitical situation will remain grim as the Israel-Palestine war has added to the already crippled global order due to the Russia-Ukraine war.

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Canadian Tire Corp. Ltd. plans to cut about three per cent of its workforce in its fourth quarter as it faces softening consumer demand.

By Steve Scherer and David Ljunggren

Treasury Secretary Janet Yellen says the United States has no desire to break economic ties with China

The third quarter of 2023 saw $111 billion of cash flows into US-domiciled exchange-traded funds with equity ETFs leading investor interest with almost $80 billion even as domestic equities fell 3.3%.

The question of whether gold, oil and other commodities are right for individual client portfolios has always been a hard one for financial advisors to mine. So let’s dig into it.

Indian solar panel manufacturers are grappling with the influx of cheaper Chinese imports funnelled through intermediary countries such as Vietnam, Malaysia, and Singapore as Chinese companies exploit Free Trade Agreement (FTA) loopholes to export to India. Despite New Delhi's imposition of a 40% customs duty on solar modules and 25% on solar cells in April 2022 to boost domestic production and reduce Chinese imports, companies in China are finding ways to bypass these high tariffs and continue supplies to Indian solar farm developers. The Chinese companies have effectively utilised this strategy in the past to evade local tariffs, as demonstrated by a year-long investigation in August 2023 by US federal authorities, which revealed that five Chinese solar panel firms had circumvented tariff regulations by channelling their operations through countries such as Cambodia, Malaysia, Thailand, and Vietnam. Following the imposition of tariffs, direct Chinese exports to India have declined, but from April to August 2023, imports of solar panel modules from Vietnam and Malaysia have surged, accounting for 60% of all such imports into India, with majority of these products originating from Chinese companies. Indian manufacturers say the imports are hurting domestic industry as the Chinese firms are resorting to dumping their products by misusing the FTA route.