Trade Financial News

InterGlobe Aviation (IndiGo) and SpiceJet are likely to remain in focus today as the government, in its 55th GST Council meeting, may consider bringing ATF under the GST's ambit. As ET reported earlier, the 55th GST Council meeting is likely to discuss the possibility of bringing aviation turbine fuel (ATF) under the Goods and Services Tax (GST) regime, a significant development for the aviation sector.

buy call on Indian Hotels Company (IHCL) with a target price of Rs 950. The current market price of Indian Hotels is Rs 880.3. IHCL, incorporated in 1902, is a Mid Cap company with a market cap of Rs 125461.32 crore, operating in Tourism & Hospitality sector. Indian Hotels Company's key products/revenue segments include Income from Rooms, Restaurants & Other Services and Other Operating Revenue for the year ending 31-Mar-2024.

stock picking because we believe that focusing on the smallest unit—the individual stock—can deliver performance when aggregated,” says Anil Rego, MD & CIO, Right Horizons PMS. In an interview with ETMarkets, Rego said: “One of the key methodologies we use is to look for multi-baggers. It’s a simple concept: if we can find stocks that can grow earnings and help the stock double in value, we focus on them,” Edited excerpts:

“Earnings growth, margins for a wide variety of businesses and the most crucial – the margin of safety of investors new investments that are put into various assets incrementally in 2025 and beyond,” says Sahil Kapoor, Head of Products and Market Strategist, DSP Mutual Fund. In an interview with ETMarkets, Kapoor said: “Private banks, selects PSU banks, Healthcare providers, select Auto OEMs and some insurance companies appears to have a good mix of valuations, steady earnings and probability of decent growth outcomes are key themes for 2025,” Edited excerpts:

IT stocks like TCS, Infosys, and HCL Tech are likely to be in the spotlight on Friday following Accenture's better-than-expected Q1 earnings and upgraded revenue guidance. Accenture’s first-quarter revenue of $17.7 billion surpassed analyst estimates of $17.12 billion, driven by strong demand for its AI-powered solutions that help businesses optimize operations.

Sandip Sabharwal, asksandipsabharwal.com, says the valuation derating for HDFC Bank seems to be more or less through. If going forward from next year, they come back to the credit growth trends which they had historically, then there is a realistic possibility that HDFC Bank should do well. Reliance is down almost 30% from the top and there is a realistic possibility it could outperform next year. This is how the last part of 2024 is going to pan out I guess because a whole lot of cues have dried up. The FII volumes as well have abated and it is going to be very minuscule up until January when the earning season kicks off. Then there will be the budget and it is going to be a hectic calendar year henceforth. Sandip Sabharwal: Although trading activity ebbs going into the end of December, the markets move have been there historically and that is still possible. But overall there is a greater possibility that given the lack of cues per se in terms of any significant policy decision or any significant news flow coming in or likely to come in over the next couple of weeks, the probability that after this initial sell-off driven by US Fed action or the projection they have given for the year 2025, we should see the markets become range-bound without any significant dip or up move.

IPO) of Carraro India will open for subscription today. The Rs 1250 crore issue, which is entirely an offer for sale of 1.77 shares, will be available for bidding till December 24. Since the IPO is completely an OFS, the proceeds from the offer will go to the selling shareholders.

Indian Oil Corporation (IOC) are in focus after a senior executive of the company stated that it will invest over Rs 21,000 crore to expand its Barauni refinery in Bihar and establish a city gas distribution network across the state. IOC is upgrading the Barauni refinery from a capacity of 6 million tonnes per annum (mtpa) to 9 mtpa, along with a petrochemical plant, at an estimated cost of Rs 16,000 crore.

IPO) of Ventive Hospitality will open for subscription today. The Rs 1600 crore issue, which is entirely a fresh equity sale of 2.48 shares, will be available for bidding till December 24. The proceeds from the offer will be used for repayment of debt, payment of interest accrued in step-down subsidiaries and general corporate purposes.

Varun Saboo, Head-Equities, Anand Rathi Shares, says there is no reason why Nifty should trade anything below 18 times in general. He does not see those times coming back where we go down to 15 times earnings. Because whatever said and done, our growth rates are much better than any country in the world, so that premium, that multiple to peg will remain and the Nifty will remain firm. However, one has to see how the Jan and next earnings season pan out. Among the biggest losers among banks in 2024, one can bottom fish in Bandhan Bank next year. Towards the fag end of the year and perhaps the start of the new year as well volumes, cues, are going to dry up and then will come the January earnings followed by budget, etc. What do you think the market construct is going to be? Will this kind of volatility persist or is it going to become more lacklustre with the drying up of volumes? Varun Saboo: There are two-three things which you are talking about.

blockchain analysis firm Chainalysis showed on Thursday. The hacking amount exceeded $1 billion for the fourth straight year and the number of incidents rose to 303 from 282 in 2023, it said. Hackers had stolen $1.8 billion in 2023.

Bharti Airtel are expected to remain in focus today (Friday, September 20) after the telecom major informed exchanges about pre-paying Rs 3,626 crores to clear all liabilities for spectrum acquired in 2016. The company has prepaid a total of Rs 28,320 crores of spectrum liabilities in this calendar year. «With this, Airtel has now prepaid all its spectrum dues that had interest costs higher than 8.65%,» the company filing on Thursday said.

interest margins and a weakening yuan create limits for immediate monetary easing. The one-year loan prime rate (LPR) was kept at 3.10%, while the five-year LPR was unchanged at 3.60%.

Bandhan Bank, Chambal Fertilizers & Chemicals, Granules India, Hindustan Copper, Manappuram Finance, National Aluminium Company, NMDC, PVR Inox, RBL Bank and Steel Authority of India (SAIL). The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

International Gemmological Institute will debut on the exchanges on Friday. Ahead of the listing, the company's shares were trading with a GMP of Rs 135 in the grey market. Considering the upper price band of Rs 417, the stock is expected to see listing gains of 33% over the issue price.

Business Overview

Nacdac Infrastructure set a record on Thursday, being oversubscribed 1,976 times on its final day. The ₹7.28-crore offering attracted ₹14,386 crore in bids from 6.41 lakh applications. The non-institutional investor (NII) portion of the IPO was subscribed 2,635 times, while the retail investor segment saw 2,504 times subscription. The qualified institutional buyer (QIB) category was subscribed 236 times.

risk-adjusted returns than mid- and small-cap indices in 2025, driven by higher earnings growth and relatively attractive valuations, according to HDFC Securities. The brokerage remained overweight on large banks, top-tier IT, consumer durables, capital goods, real estate, cement, and building materials sectors while maintained an underweight stance on auto, consumer staples, oil & gas, mid-cap IT, small banks, and NBFCs.

SWIGGY

IndusInd International Holdings (IIHL) is in advanced talks with investors including 360 One, Barclays, Bank of America, Allianz Private Credit Fund, ICICI Prudential AMC Private Credit, Edelweiss Alternatives, Alpha Alternatives Fund and Tata Capital to raise ₹4,300 crore in the second tranche to complete its acquisition of Reliance Capital by January end, people aware of the development said. Barclays alone is contributing ₹1,000 crore in this round of non-convertible debenture (NCD) issue, one of them said.

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