UPS Financial News

Most technical and derivatives indicators point towards a consolidation this week, with markets likely to be further driven by quarterly earnings, FII flows, geo-politics, and global market sentiments, Aamar Deo Singh, Senior Vice President-Equity, Commodity & Currency at Angel One said. This analyst spells-out strategy in previous week’s major movers viz. Bajaj Auto, Avenue Supermarts (DMart), Adani Green Energy and three more stocks. Excerpts: A lackluster beginning after a poor show in the previous week where Nifty ended with weekly declines of 0.44%. What does the chart indicate about its trajectory and what are the important levels for Nifty and Bank Nifty? Markets witnessed choppy trading sessions last week with the benchmark index Bank Nifty saving the day. A sharp rally in ICICI Bank, Axis Bank, SBI and HDFC Bank helped in the benchmark indices recover from the lows of the week with Nifty ending lower with weekly decline of 0.44% whereas Bank Nifty ended the week in the green, up 1.8% WoW.

Info Edge (India) Ltd. dropped 1.56 per cent to Rs 7962.0 at 12:32PM (IST) in Monday's trade. The scrip hit a high of Rs 8161.1 and low of Rs 7960.85 so far during the session. The stock had closed at Rs 8088.3 in the previous session. The counter had a total traded volume of 12:32PM shares so far with a turnover of Rs 0.42 crore on BSE. The stock traded at a price-to-earnings multiple of 159.04 and a price-to-book ratio of 2.39.

«Any company which basically focuses not only on the top end, but something that is value for money, significant value for money, for the bottom 60%, those will be the companies which will survive and do exceedingly well as our per capita income goes up,» says Milind Karmarkar, Dalal & Broacha Portfolio Manager Nikunj Dalmia: So, what is looking good for next three to five years? What is the big picture? Milind Karmarkar: So, frankly, as I have always said that for me the mega trend continues to be consumption. And when I say consumption, as you know that it encompasses a lot of sectors. But within that, what looks interesting is that if you divide the Indian population into different quartiles, one realises that at least 70% or at least 65% of the families are such who do not have any money after their day-to-day expenses. So, any company which basically focuses not only on the top end, but something that is value for money, significant value for money, for the bottom 60%, those will be the companies which will survive and do exceedingly well as our per capita income goes up.

Bajaj Holdings & Investment Ltd. gained 0.65 per cent to Rs 10313.0 in Monday's session as of 11:51AM (IST) even as the equity benchmark Sensex traded 163.68 points lower at 81061.07. Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 11348.5 and a 52-week low of Rs 6634.6 on NSE. Around 882 shares changed hands on the counter till 11:51AM (IST).

Punjab National Bank slipped 0.62 per cent to Rs 102.6 in Monday's trade as of 11:46AM (IST). It hit a high of Rs 104.45 and low of Rs 102.5 during the session. The stock quoted a 52-week high price of Rs 142.9 and a low of Rs 67.34. The return on equity for the stock stood at 8.92 per cent. About 264,187 shares have changed hands on the counter so far.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

GAIL (India) Ltd. gained 0.2 per cent to Rs 221.9 in Monday's trade as of 11:41AM (IST). The stock hit a high price of Rs 223.55 and low of Rs 220.6 during the session.

Sebi for an initial public offering of Rs 570 crore, a statement said on Monday. The initial public offering (IPO) comprises a fresh issue of shares worth up to Rs 170 crore and an Offer for Sale (OFS) of shares worth up to Rs 400 crore, Jaro Education said in the statement. Promoter Sanjay Namdeo Salunkhe is selling equity shares worth Rs 400 crore through the OFS route.

Voltas Ltd. traded at Rs 1859.45 on BSE at 11:36AM (IST) on Monday, down 0.29 per cent from previous close. The scrip quoted a 52-week low price of Rs 806.9 and a high of Rs 1946.2.

Bajaj Finance is expected to report a net interest income in the range between Rs 8,810 crore and Rs 9,187 crore for the quarter ended September 30, 2024 according to estimates by five brokerages. This is likely to be an uptick of 24-28% over the corresponding quarter of the previous financial year. The profit after tax (PAT) in the July-September quarter could be around Rs 4,030 crore to Rs 6,083 crore.

Conciliation Forums set up by the Maharashtra Real Estate Regulatory Authority (MahaRERA) has resolved over 1,749 matters between homebuyers and real estate developers across the state. With this, of the 5,958 complaints filed with MahaRERA, around 32% have been resolved through these 52 Conciliation Forums in the state, often leading to mutually agreed-upon settlements, MahaRERA said. Other states including Gujarat, Uttar Pradesh, and Haryana have also implemented similar initiatives and many other states are in discussions with MahaRERA to understand this initiative.

Many Cubans waited in anguish and some took to the streets in protest as widespread blackouts stretched into their third day

Asian shares are mostly higher after U.S. stocks rose to records to close out their latest winning week

Immigrants, as well as those who work closely with them, say both sides’ efforts to crack down on the border have clouded the larger immigration issue in ways often too nuanced to break down cleanly along ideological lines

IndiaMart InterMesh-operated IndiaMart today fell by 18% to Rs 2,466.80 on the BSE even as the company reported nearly a 95% YoY jump in its Q2 PAT at Rs 135.1 crore. Additionally, the company also reported an 18% jump in its revenue on a year-on-year basis (YoY) at Rs 348 crore for the second quarter ended September 2024, which stood at Rs 295 crore in the same quarter of the previous fiscal year.

Cameron Brandt, Director of Research, EPFR Global, says China's equity market, in some senses, has been the only game in town for domestic investors. There has been eye-catching inflows since the second quarter of this year, which peaked at a record weekly total of $40 billion two weeks back. But last week, they had significant outflows, the biggest single weekly outflow of $4 billion since 2015. So, even in China, this spirit of “what have you done for me lately” seems to be the determinant for flows. I just want to touch upon what is going on in the US because it has been a fairly robust few days of trade. Do you think that investors are still mindful about stretch valuations, the US presidential elections, and the fact that there are geopolitical risks? Cameron Brandt: I do not think they have forgotten, but there is so much good stuff in the proverbial punch bowl at the moment that it is hard to resist. There are some fairly rosy assumptions about the trajectory of interest rates over here. Oil prices have come down, which makes driving cheaper for people here, always good for the mood. And neither of the presidential candidates are saying anything about fiscal discipline. So, there is an assumption that this sort of expansionary fiscal policy will continue into next year.

Lupin Ltd. gained 0.69 per cent to Rs 2191.4 in Monday's trade as of 10:35AM (IST). It hit a high of Rs 2203.6 and low of Rs 2173.2 during the session. The stock quoted a 52-week high price of Rs 2312.0 and a low of Rs 1113.0. The return on equity for the stock stood at 13.5 per cent. About 2,097 shares have changed hands on the counter so far.

The ranch in remote eastern Nevada produces around 10,000 tons of hay annually, and combines cowboy culture with a dash of Manifest Destiny. Rabbits, gophers and the occasional badger always outnumber humans and the nighttime sky is dark enough to count the stars. But the Bakers' business couldn't survive without an agricultural guest worker program that brings in Mexican immigrants for about nine months a year to help harvest crops in fields where temperatures frequently exceed 100 degrees Fahrenheit (37.8 Celsius).

Google techie rejected from job for being ’too good’, recruiter says ‘qualifications are…’When the feature was leaked behind an experimental flag in June this year, it had very limited use cases with the audio turning off as soon as the user closed Chrome or turned off their phone display, akin to how YouTube Music works. However, according to a latest report by 9to5Google, the Listen to this page feature is getting a major upgrade and can now continue playing the music even when exiting the Chrom app and open other applications.

Motilal Oswal Financial Services has a neutral call on Axis Bank with a target price of Rs 1,225. The current market price of Axis Bank Ltd. is Rs 1195.25. Axis Bank, incorporated in 1993, is a bank with a market cap of Rs 370216.15 crore. Axis Bank's key products/revenue segments include interest & discount on advances & bills, income From investment, interest and interest on balances with RBI and other Inter-Bank Funds for the year ending 31-Mar-2024.

Although it comes on a higher base, October is turning out to be the highest-ever month in terms of FII selling. Back in March 2020, when FIIs had sold Indian stocks worth $7.9 billion (Rs 58,632 crore), Nifty had the month down 23% despite domestic institutional investors (DIIs) matching the selling with buying of Rs 55,595 crore.