Datasets:

LogeshChandran

/

money_control_news

like 0

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/brokerage-radar-alkem-lab-gets-target-upgrades-nomura-upgrades-eicher-motors-to-neutral-12866837.html

Brokerage Radar: Alkem Lab gets target upgrades, Nomura upgrades Eicher Motors to 'Neutral'

Brokerage Radar.Related stories.

Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes Alkem Laboratories, Eicher Motors, Sunteck Realty and more. Alkem Laboratories Nomura On Alkem LabMaintain Neutral, Target Raised To `6,097/ShCo Expects Slower Topline Growth But Higher Margin In FY25Volume Growth Impacted By A Loss Of Contracts & Supply ChainCo Expects US Biz To Decline By A Mid-single Digit Percentage YoY In FY25Co Now Expects FY25 Revenue Growth In Mid-single Digit Vs 10% PreviouslyExpect Margin To Expand By 100 bps YoY In FY25 At 18.5-19.0% Vs 18% PreviouslyLower Material Costs And New Business Overheads Support Margin HSBC On Alkem LabMaintain Hold, Target Raised To `5,540/ShReported Q2 Sales Below Our EstimatesLower Operating Expenses Helped Margin Beat Our EstimatesMargin To Be Rangebound At 19-20% Over FY25-27Recovery In US Sales Growth Key To Reduce Margin Drag Jefferies On Alkem labMaintain Underperform, Target At `4,950/ShQ2 Results Below Our Estimates On Lower Revenue Growth Across RegionsRev Growth Guidance Lowered While Margin Target RaisedIndia Growth Expectations Toned DownUS Is Expected To Pick Up Traction From Q2 & RoW Outlook Is Robust Eicher Motors Jefferies On Eicher MotorsRetain Buy Call, target At `5,500/ShQ2 EBITDA Flat YoY, But 8% Below Est On Lower-than-expected RE MarginRE Volumes Are Showing Signs Of Pick-upRE Should Be A Key Beneficiary Of 2W PremiumisationToughest Phase Of Competition Is Behind Morgan Stanley On Eicher MotorsMaintain Underweight, Target At `3,655/ShPosted Weak Q2 Earnings With EBITDA 8% Below Our EstimateCompany Is Now Focussing More On Growth Than MarginsGrowth Over Margin A Right Strategy, But Valuation Keeps Us UnderweightDespite Good Mix, EBITDA Margin Declined On A YoY Basis Nomura On EicherUpgraded To Neutral From Reduce, Target Raised To `4,391/ShQ2 Margin Misses On Growth InvestmentsEncouraged To See RE’s Shift In Stance To Drive Volume GrowthMarket Share Loss Could Be More GradualGiven Better Strategy, Upgrade The Stock To NeutralRaise FY25/26 RE Volumes Estimates By 3-5%Lower Margin Estimates By 20-40 bps For FY25/26/27 Jefferies On Sunteck RealtyMaintain Buy, Target Raised To `700/ShBalance Sheet Turned Net Cash On Consistent Optg Cashflow PerformanceProject Pipeline Doubled Over The Last 2 YrsFY25 Pre-sales Are Trending Well With 31% Sales Growth In H1Management Has Reiterated Its Guidance Of 30%+ Sales Growth In FY25 Jefferies On PI IndustriesMaintain Buy, Target At `5,100/ShCSM Exports Saw Double-digit Revenue GrowthDomestic Revenue In-line While Pharma Slightly AheadMgmt Lowered FY25 Rev Growth Guidance To High-single Digit

2024-11-14 08:18

2024-11-14

08:18

moneycontrol.com

https://www.moneycontrol.com/news/business/personal-finance/how-indian-parents-are-using-bank-accounts-e-commerce-apps-and-board-games-to-teach-money-skills-to-kids-12866582.html

How Indian parents are using bank accounts, e-commerce apps and board games to teach money skills to kids

Financial planners and parents are in favour of imparting money management lessons to children at a young age which is essential for ensuring financial security in the future..

Mumbai resident Radhika Shah, 41, is taking a proactive approach to securing her daughter’s financial future. Embracing the philosophy of "financial responsibility right from childhood," Shah introduced her 13-year-old daughter, Juhi, to basic money management concepts, smart spending habits, the importance of insurance and introducing investment products. Over the last three years, Juhi has been attending a workshop on personal finance organised for children during her summer vacations. The sessions have acquainted her with key concepts such as interest rates, compounding, savings, budgeting, wise financial decision making and more. By instilling financial responsibility values early on, Radhika Shah aims to empower her daughter with the knowledge and skills necessary to navigate the complex world of personal finance. Mumbai-based Milan Sheth, 56, concurs with Shah’s thinking. He has opened asavings accountfor his 16-year-old son Bhavy and encouraged him to deposit a portion of his monthly allowance or festive and birthday gifts received in cash to plan for his short-term goals, which include buying gifts for parents on special occasions or short vacations with friends. Bhavy says he has been able to grasp the concept of earning interest as he sees his money grow by reading the bank account passbook (statement). Financial planners and parents are in favour of imparting money management lessons to children at a young age which is essential for ensuring financial security in the future. Kids need to learn basic concepts about money (currencies, saving) at 3-5 years, simplebudgeting (needs versus wants, saving andspending) at 6-8 years, and advanced concepts (earning, investing, credit, debt, financial instruments, banking, and so on) at 9-12 years, refining skills in teenage years,” says Priyal Shah, a senior faculty for the FinCHAMPS programme run by BrightCHAMPS, a firm that conducts financial literacy, coding and robotics sessions for kids. Tips on teaching about budgeting and spending Introduce your kids to a financially responsible way of life by providing a regular allowance and guiding them to create a simple budget for spending. "Encourage them to allocate their money into three categories: spend (everyday expenses), save (for future goals), and give (for charitable donations or gifts)," advises Gaurav Goel, a SEBI-registered investment advisor. For instance, Radhika Shah encourages her daughter to set a budget for monthly expenses and save at least 10 percent of her monthly pocket money. While shopping for games, stationery or groceries, Sheth has taught his son to compare prices before purchasing from a couple of e-commerce websites. For instance, he learnt price comparison by shortlisting items on e-commerce apps (e.g., Amazon), reviewing his choices, exploring alternatives with the same products (e.g., DMart, Flipkart), and comparing total costs to secure the best option. “Through interactive learning, he discovered the value of comparing prices across e-commerce platforms. This involved shortlisting items, reviewing selections, exploring alternatives, and comparing costs to make informed purchasing decisions,” says Sheth. "To track expenses and understand money management, children should be introduced to budgeting apps or spreadsheets," advises Goel. These tools enable them to visualise their spending habits and review expenditures at month-end, fostering financial awareness and responsible decision-making. Introducing banking products Mumbai resident Chitrang Shah, 38, has taught his 14-year-old son, Vihaan about banking products from the age of 10. “I am aware offixed deposits, recurring deposits (RDs) and interest rates,” says Vihaan. By investing in RDs for annual school and coaching fees, Shah has been teaching his child the value of saving and compound interest. “Vihaan knows how interest rates are calculated on these debt investment products and the returns investors get at the end of the tenure from these investments,” he says. Chitrang Shah has also trained his son on usingUPIfor secure payments, with all transactions conducted under parental guidance. “Vihaan also understands the distinction between debit and credit cards, understanding the risks associated with credit card overspending and delayed payments,” he says. “Teaching kids about credit cards' interest fees and consequences of missed bill payments can make them budget-savvy," says Shah of BrightCHAMPS. It's also crucial to emphasise PIN security while using the cards and warn them about phone scams targeting CVV, PIN, and OTPs, she adds. “Let children use a credit or debit card for small, supervised purchases and go over the statement with them. This will teach them to keep track of their spending,” says Goel. Similarly, Juhi gained hands-on experience in banking basics at a workshop, learning to use chequebooks and debit cards and withdraw cash from ATMs. “She was also taught about minimum balance rules for a savings account and potential fees for insufficient balance,” her mother Radhika says. Managing debt To teach his son about loans and the risks associated with them, Chitrang Shah uses a real-world approach. He provides a loan for desired items which he can’t afford from his monthly allowance, coupled with a repayment schedule and small interest rate, illustrating the consequences of borrowing and the value of prompt payments. “I have explained concepts such as good and bad debt to my son,” Sheth says. For instance, a student loan can be ‘good debt’ if it helps with future earning potential, while high-interest credit card debt is generally ‘bad debt’. Also read |Children's Day Special: How to impart money lessons at a young age Learning through games and workshops Engaging children in interactive tools like board games (Monopoly, The Allowance Game, The Game of Life) and participating in workshops and activities (financial literacy camps) are other ways that parents adopt to teach them money management skills as well as personal finance and economic principles. According to Shah of BrightCHAMPS, these hands-on approaches foster financial awareness, responsible spending, saving, and budgeting habits, while also developing critical thinking and decision-making skills. For instance, Radhika Shah plays board games like Monopoly and Stock Market, which simulate real-world financial scenarios, where players buy houses and stocks, and manage savings. “Through these interactive games, my daughter has picked up essential terms and principles of personal finance, such as budgeting, saving, and investing,” she says. Creating awareness around financial frauds Kids often spend a lot of time online, where fraudsters can easily trick them into sharing personal details or money. “It's crucial for parents to talk to their kids aboutfinancial fraudsthese days as cybersecurity has become one of the major concerns for the new generation – from fake online deals to phishing messages - it is all over the internet,” says Krishan Mishra, CEO, FPSB India, the Indian subsidiary of the US-based Financial Planning Standards Board Ltd. Sheth says he guides his son by having open discussions during family time, sharing real-life examples of fraud, and guiding him on how to verify trusted sites and accounts. Similarly, Juhi is now aware of credit card related frauds such as phishing and skimming due to the conversations at home, says her mother Radhika. “Open conversations on a variety of these subjects often help bridge an important gap between parents and children, and encourage a healthy exchange of information,” says Mishra.

2024-11-14 08:16

2024-11-14

08:16

moneycontrol.com

https://www.moneycontrol.com/news/business/age-of-super-stardom-is-gone-as-social-media-takes-away-celebrity-mystique-cornerstones-bunty-sajdeh-12866572.html

Age of super stardom is gone as social media takes away celebrity mystique: Cornerstone's Bunty Sajdeh

Bunty Sajdeh of Cornerstone..

How does one shoot an ad? Simple! The lens zooms in on the sports star or the celebrity endorsing the brand, and shoot. But, that's just the result of an equation worked out in perfection by a group of people who are masters in the art of managing the talent. It is these people who create the magic from behind the lens. They choose the right brand and strikes the best investment deal for the talent they manage. But the magic is losing its sheen faster than one could even imagine. Thanks to a boom in social media, the trill around the mystique of stardom has turned mundane. Very few knows to do this better than Bunty Sajdeh who set up talent management agency Cornerstone and began managing celebrity associations since 2008. Nearly two decades later, Sajdeh believes that age of super stardom is gone. "It's difficult to monetise talent beyond a point as an agency. Whether you look at sports or entertainment, all the zeal around super stardom is lost," he shared withMoneycontrol. "The devil is social media. It negates a lot of that mystery around athletes and celebrities," he rued. Managing talent The idea of Dharma Cornerstone (DCA) was conceived during the Covid. "Karan (filmmaker Karan Johar) is a good friend and we chatted during Covid. I have not done entertainment in the last 10 years, so I said who better than Karan to partner with and I wasn't going to give up on that golden opportunity," Sajdeh said. The team had the expertise, infrastructure and experience, but didn't have enough inventory (talent) to work with. "Gautam (head coach of the Indian cricket team in all formats Gautam Gambhir) was actually the first cricketer I went to sign up in 2008, and he rejected me in 3 minutes. When we reconnected 15 years later at his house in Delhi, we had a good laugh on that." The hands are full for DCA today with a lot of talent to work with across sports and entertainment arena. But Sajdeh is not looking at it any longer. He says it is more cost-effective to not have talent on the roster. "Once you have a talent, you pay for the manager, then there are legal fees, other ancillary costs but you are still working on a 10 percent commission. Then it is better to work with icons who have their own managers and while the commission drops to around 5 percent, it is still a lot more than what you would have made if they were on the roster." Beyond agencies A few sports personalities have recently moved away from agencies to rely on friends and families for managing their portfolios off the field. But Sajdeh doesn't think the trend will grow. "I think it (friends and family managing endorsement portfolios) is a double-edged sword. Eventually, you're going to need an army if you want to build a brand. It's not a one-man show." Cricketer Rishabh Pant recently announced that he has partnered with sports and athlete brand management consultants Indranil Blah and Anant Arora to manage his endorsement portfolio. Shubman Gill also has his own team to oversee his endorsement deals. While Pant was earlier associated with JSW Sports and Collective Artists Network, Gill was with Cornerstone Sport and Entertainment. He has a 55-member sales team approaching 400 brands a month. "One individual cannot have such a reach," he said. "There are some sportstars who were with us in the past but left us to move on and set up their own shops. We still work with them very closely. But I don't think it's a matter of a mass exodus because eventually the majority of athletes want agencies." Monetising talent When it comes to monetising talent, Sajdeh said, it is not all about endorsements. "There's a lot of change that has happened over the last decade or so. Social media is just one part of it. Vanilla endorsements where brands pay X amount to the talent that has changed because the markets have seen fluctuations, whereas brands today are not getting the RoI that they wanted. Cricket stars will ask for a lot more remuneration, and it's not easy to recover that kind of money," he noted. Brands are also not getting higher penetration across mediums. "For a TVC (television commercial), brands typically don't get more than 30-35 percent in terms of penetration, because today nobody really watches TV. Social media is another angle which gives us that additional 20-30 percent penetration." He pointed out that influencer marketing is growing more than the endorsement market as the acquisition cost (of a celebrity) is less and the return on investment (RoI) is more. Not just managing talent, Sajdeh has also been educating athletes on monetisation beyond endorsements. "We try to educate celebrities to consider not taking a large chunk of money up front because that limits your opportunities. We advise them to look at equity. There are a lot of start-ups that need advertising, but they don't have that kind of money. So, today athletes and celebrities are opting for it. I think we were the first guys who did it back in 2013-14 and we had a couple of success stories." Cornerstone's first such success story was scripted in 2013 with Virat Kohli's association with the agency until last year. "Back then, Virat was with a brand called Flying Machine and they were paying him a decent sum of money and wanted to renew his contract. I remember going to Bengaluru and I was talking to Anjana Reddy, who's the founder of the brand Wrogn and we were discussing this (investing) model. I spoke to Virat and he was forward thinking and that's why he is where he is today," Sajdeh said. "We said let’s give up this large chunk of money from brand endorsement which was a big gamble for him as well as for me with a startup agency as he probably was my only monetisable client back then. We took that leap of faith." Cornerstone on the average participates in terms of funding in five to six companies a month. "We tend to stay away from pure startups because it is a high-risk zone. We go for firms that have got some run rate. I got a team that looks at 100 companies a month," he said. However, investments are still not a go-to strategy for the majority of the athletes. Building the IPs Sajdeh is also focusing on intellectual properties (IPs). The two close to his heart are Indian Sports Honours where they celebrate the achievements of sports stars. The other is the Indian Cricket Heroes. He recalled when actor Aamir Khan came up for the first edition of Indian Sports Honours. "The first thing he said was I've never been to a film award in 25 years. I'm happy that I've come for this. Amitabh Bachchan came in the second year and felicitated the athletes saying that's what he would rather do with his time." The second IP Cornerstone is working on is the Indian Cricket Heroes. The first edition took place in London at Lord's before the World Cup in 2019. But next editions could not be executed due to Covid. "We are re-imagining it and bringing it back in a much bigger way next year, which we are planning to do during the Champions Trophy in the UAE or in the UK," he said.

2024-11-14 08:14

2024-11-14

08:14

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/vodafone-idea-shares-will-be-in-focus-as-net-loss-narrows-in-q2-arpu-rises-to-rs-166-12866836.html

Vodafone Idea shares will be in focus as net loss narrows in Q2, ARPU rises to Rs 166

Over the past year, shares of Vodafone Idea have tumbled over 47 percent in trade as against a 24 percent rise in the benchmark Nifty 50..Related stories.

Shares of debt-laden telecom operator Vodafone Idea will be in focus on November 14 as the firm's net loss narrowed in the September quarter and the ARPU went up. Vodafone Ideareported consolidated net loss at Rs 7,176 crore from Rs 8,737 crore last year. The telco had reported a net loss of Rs 6,432 crore in the previous quarter. The telecom operator's revenue from operations increased marginally by 2 percent year-on-year (YoY) to Rs 10,932 crore. There was an increase of 4 per cent quarter-over-quarter. Customer ARPU (ex M2M), a key performance indicator, improved to Rs 166 in the quarter compared to Rs 154, up 7.8 percent on a sequential basis, driven by tariff hike. Follow our live blog to catch all the updates Total subscribers stood at 205 million, with 4G subscribers at 125.9 million, down from 126.7 million in Q1FY25. The overall subscriber base, including 4G, was affected by recent tariff hikes. In the postpaid segment, the company claimed to increase its customer base on a QoQ and YoY basis. Customer revenue increased by 5.6 percent compared to last quarter, aided by the recent tariff hikes undertaken by all private operators. Capex spending for Q2FY25 was Rs 1,360 crore vs Rs 760 crore in Q1FY25. The expected capex for H2FY25 is Rs 8,000 crore. Over the past year, shares of Vodafone Idea have tumbled over 47 percent in trade as against a 24 percent rise in the benchmark Nifty 50.

2024-11-14 08:13

2024-11-14

08:13

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/gautam-adani-plans-to-invest-10-billion-in-us-energy-infrastructure-12866574.html

Gautam Adani plans to invest $10 billion in US energy, infrastructure to create up to 15,000 jobs

Adani congratulated President-elect Donald Trump on his victory, and underscored that the partnership between both nations are deepening..Related stories.

The Adani Group has plans to invest $10 billion in US energy and infrastructure projects, aiming to create up to 15,000 jobs, Chairman Gautam Adani said in a social media post on November 13. Adani congratulated President-elect Donald Trump on his victory, and underscored that the partnership between both nations are deepening, with the group looking at 'leveraging its global expertise' in projects in America that will ensure energy security and and resilient infrastructure. "Congratulations to @realDonaldTrump. As the partnership between India and the United States deepens, the Adani Group is committed to leveraging its global expertise and invest $10 billion in US energy security and resilient infrastructure projects, aiming to create up to 15,000 jobs," Gautam Adani said in a post on X. US oil and gas industry group - The American Petroleum Institute (API) - has called on President-elect Trump to do away with several policies of President Biden which are said to threatening jobs and energy security. During his victory speech on November 5, President Trump reiterated the Republican Party's stance on oil sector, summarising with the slogan, “Drill, baby, drill.” The United States produces more oil than any other country in the world, and Trump is promising to increase the production even further. The Adani Group has plans to set up 10 GW ofoverseas hydroelectric projectsover next few years,Reutershad recently reported citing people familiar with the development.  The group is exploring hydroelectric projects in Nepal, Bhutan, Kenya, Tanzania, the Philippines, and Vietnam, said the report. Adani Poweris India's largest private thermal power producer with an installed capacity of 15,250 MW, andAdani Green Energyhas put out an aim for a renewable portfolio of 50 GW by 2030. The Adani group is also consolidating its market share in cement and construction businesses with acquisitions of Orient Cement and ITD Cementation in October. TheAdani Enterprisestoo has a tie up with US-based company EdgeConneX, a leading global data center operator, to build hyperscale data centers in India.

2024-11-14 08:08

2024-11-14

08:08

moneycontrol.com

https://www.moneycontrol.com/news/world/trump-nominates-congressman-matt-gaetz-as-attorney-general-12866817.html

Trump nominates Congressman Matt Gaetz as Attorney General

"Under Matt’s leadership, all Americans will be proud of the Department of Justice once again," Trump noted..

US President-elect Donald Trump on Wednesday announced to nominate his loyalist Congressman Matt Gaetz as the Attorney General of the United States. "It is my great honour to announce that Congressman Matt Gaetz, of Florida, is hereby nominated to be The Attorney General of the United States," Trump said as he announced his latest Cabinet nomination, which he is filling up at an unprecedented pace. Gaetz, he said, is a deeply gifted and tenacious attorney, trained at the William & Mary College of Law, who has distinguished himself in Congress through his focus on achieving desperately needed reform at the Department of Justice (DOJ). "Few issues in America are more important than ending the partisan weaponisation of our justice system. Matt will end weaponised government, protect our borders, dismantle criminal organisations and restore Americans' badly-shattered faith and confidence in the Justice Department,” Trump said. On the House Judiciary Committee, which performs oversight of DOJ, Gaetz played a key role in defeating the Russia Hoax, and exposing alarming and systemic government corruption and weaponisation, said the president-elect. "He is a champion for the Constitution and the rule of law. Matt will root out the systemic corruption at DOJ, and return the Department to its true mission of fighting crime, and upholding our democracy and Constitution," Trump said. "Under Matt’s leadership, all Americans will be proud of the Department of Justice once again," he added.

2024-11-14 08:01

2024-11-14

08:01

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/world-street-wall-street-quiet-bitcoin-tops-93000-gold-loses-sheen-for-4th-day-and-more-12866819.html

World Street | Wall Street quiet, Bitcoin tops $93,000, Gold loses sheen for 4th day, and more

World Street offers sneak peak into top global news.Related stories.

Leafing through top global developments, we have Wall Street quiet, followed by gold eases for the fourth day, bitcoin breaching past $93,000, and more. Dive into more for World Street's November 14 edition! Wall Street quiet, inflation in-line The Dow Jones and S&P 500 ended the session near flat, with the Dow gaining 0.11 percent, and the S&P 500 edging up 0.02 percent. The Nasdaq Composite closed down by 0.26 percent. These moves came after October's Consumer Price Index (CPI) met expectations but showed the Federal Reserve’s fight against inflation is far from over. Core CPI rose 0.3 percent for the third consecutive month, bringing the annual rate to 3.3 percent. Gold loses sheen for 4th day Gold prices fell for a fourth consecutive session overnight, pressured by a stronger dollar and high bond yields following news that October US consumer prices rose as anticipated. Spot gold dropped 0.7 percent to $2,580.39 per ounce, after reaching a near two-month low earlier in the day. Bitcoin tops $93,000 Bitcoin climbed past $93,000 for the first time overnight, extending its postelection rally as traders analysed October’s inflation data. The latest Consumer Price Index showed a 0.2 percent price increase for the month, bringing annual inflation to 2.6 percent, in line with expectations. Strengthening chip tech Japan unveiled a new strategy to boost its semiconductor and artificial intelligence industries, aiming to reclaim its leadership in chip technology. The plan includes support totaling 10 trillion yen ($65 billion) or more by fiscal 2030, as part of a broad economic package set to be finalised in November. Funding will come from subsidies, investments by government institutions, and debt guarantees. AMD plans to cut workforce AMD announced that it will cut 4 percent of its global workforce as it aims to strengthen its position in the rapidly expanding artificial intelligence chip market, currently led by Nvidia. As of the end of last year, AMD employed 26,000 people, per US Securities and Exchange Commission filing. AMD remains the second-largest producer of graphics processing units (GPUs) after Nvidia. Cybertrucks recalled Tesla is recalling 2,431 Cybertrucks to replace faulty drive inverters, according to a notice from the National Highway Traffic Safety Administration (NHTSA). This marks the sixth recall for the Cybertruck since its debut about a year ago. Priced at a base of around $80,000 in the US, the angular steel pickup previously had a recall resolved via an over-the-air software update to fix a display issue with backup camera images. (with inputs from Reuters and other agencies)

2024-11-14 07:54

2024-11-14

07:54

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/grasim-industries-stock-in-focus-ahead-of-q2-results-double-digit-growth-seen-in-profit-revenue-12866824.html

Grasim Industries stock in focus ahead of Q2 results; double-digit growth seen in profit, revenue

Grasim reported a loss of Rs 52.12 crore, despite a revenue increase of 11% YoY, reaching Rs 6,894 crore in Q1FY25..Related stories.

Shares of Grasim Industries are in focus on November 14 as the company is anticipated to post solid revenue and profit growth for the quarter ended September 30, 2024. The flagship Aditya Birla Group firm is slated to report its Q2FY25 earnings later in the day. Grasim's revenue from operations could see a year-on-year (YoY) rise of 17-20%, with net profit likely rising 18% YoY, according to estimates from three brokerages. For individual segments, projections indicate a 2% YoY revenue increase in the VSF segment, while the chemicals segment is expected to grow by 5% YoY. Nuvama Institutional Equities noted thatGrasim's VSF segment is benefiting from improved realizations, but new ventures in paints and B2B are impacting overall margins. For the VSF segment, Motilal Oswal estimates EBITDA growth of 1% YoY, with operating margins (OPM) steady at 12% YoY. The Chemical segment's EBITDA is expected to rise by 33% YoY, pushing operating margins (OPM) up by 3.3 percentage points to 15.2%. The brokerage sees standalone EBITDA to decline 34% YoY to Rs 390 crore, with OPM anticipated to fall by 4 percentage points to 5.2%. Additionally, interest and depreciation costs are expected to rise by 39% and 23% YoY, respectively, with an adjusted profit increase of 16% YoY to Rs 920 crore. Follow our market blog to catch all the live action Kotak Equities also expects a sequential decrease in VSF volumes due to continued softness in VFY, whereas the chemical segment could see a 10% QoQ rise in volume, reflecting a gradual recovery in domestic demand. Grasim’s standalone EBITDA is estimated at Rs 540 crore, with VSF EBITDA at Rs 510 crore (up 9% YoY and 26% QoQ) on price improvements, chemicals EBITDA at Rs 310 crore (up 30% YoY, down 1.2% QoQ) on demand recovery, and continued losses in the paints division as ramp-up efforts progress. In the previous quarter, Grasim reported a loss of Rs 52.12 crore, despite a revenue increase of 11% YoY, reaching Rs 6,894 crore. Grasim Industries shares ended marginally higher at Rs 2,530 on the National Stock Exchange (NSE) in the previous session. The stock has rallied 19% this year, outperforming Nifty's 8% gain. Over the past 12 months, the stock has risen 30%, while Nifty rose 19% during the same period

2024-11-14 07:42

2024-11-14

07:42

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/first-tick-top-10-global-cues-for-todays-trade-78-12866521.html

First Tick: Top 10 global cues for today’s trade

Market Today.Related stories.

Indian benchmark indices Sensex and Nifty 50 are likely to see a muted opening on November 14, tracking cues from GIFT Nifty trading around 23,629.5, a short while ago this morning. Track the latest updates onGIFT Nifty right here on Moneycontrol. The Sensex and Nifty closed deep in the red on November 13, marking their fifth consecutive day of losses as inflation concerns and a sell-off in metal stocks weighed on market sentiment. The Nifty has now dropped nearly 10 percent from its all-time high of around 20,200 reached on September 27. At the close, the Sensex had shed 984 points, or 1.3 percent, settling at 77,690, while the Nifty declined 324 points, or 1.4 percent, to 23,559. Here is how financial markets across the globe fared overnight: GIFT Nifty (Flat) The GIFT Nifty is trading flat, indicating a muted start for the day. Nifty futures were trading at 23,629.5 at 07:00 am IST. Asian Equities (Gain) Asian shares drifted higher Thursday after US inflation data supported the case for another Federal Reserve rate cut next monthChange From Previous Close (%)MTD (%)YTD (%)Topix0.78-0.865.88Nikkei0.60-2.416.87Hang Seng-0.04-2.2218.31Taiwan-0.13-0.9321.66Kopsi0.47-6.59-14.80US Equities (Mixed) The Dow and the S&P 500 ended slightly higher on Wednesday while the Nasdaq lost ground after October data showed consumer prices rising in line with expectations, adding support to bets that the U.S. Federal Reserve will cut interest rates in December. The consumer price index (CPI) rose 0.2% in October for the fourth straight month and advanced 2.6% on an annual basis, the Labor Department's Bureau of Labor Statistics said. Excluding the volatile food and energy components, the CPI increased 0.3% in October, meeting economists' forecasts. The Dow Jones Industrial Average rose 47.21 points, or 0.11%, to 43,958.19, the S&P 500 gained 1.39 points, or 0.02%, to 5,985.38 and the Nasdaq Composite lost 50.66 points, or 0.26%, to 19,230.74.Change From Previous Close (%)MTD (%)YTD (%)Dow Jones0.115.6318.28S&P5000.025.2827.26Nasdaq-0.266.6529.92US Bond Yield (Gains) The US 10-year Treasury yields jumped 62 basis points to 4.47% and US 2 year bond yield added 49 bps to 4.30%.Current PriceMTDYTDUS 10-Year Treasury4.474.104.44US 2-Year Treasury4.303.954.83Dollar Index (Flat) The U.S. dollar revisited a one-year high against major peers on Thursday, as a fourth straight winning session from momentum sparked by Donald Trump's election victory eclipsed a rise in bets for Federal Reserve easing.Current PriceMTDYTDDollar Index106.53103.29104.05Asian currencies (Down) All the Asian currencies were trading lower in the early trade on Thursday.Change From Previous Close (%)MTD (%)YTD (%)Indonesian Rupiah-0.013-1.38-2.43South Korean Won-0.092-3.41-8.17Japanese Yen-0.205-3.87-9.46Philippines Peso-0.075-2.23-5.77Thai Baht-0.146-4.84-2.02Taiwan Dollar-0.135-1.05-5.95China Renminbi-0.011-2-1.85Malaysian Ringgit-0.552-3,912.72Singapore Dollar-0.067-2.62-1.73Crude (Down) Oil prices dropped slightly early on Thursday on expectations of higher global production amid forecasts for weak demand growth, while a firmer dollar also kept a lid on prices.Change From Previous Close (%)MTD (%)YTD (%)US West Texas-0.28-1.43-4.73Brent Crude-0.18-1.34-6.33Gold (Down) Gold held a four-day drop as a sharp rally in the dollar weighed on the metal, even as US inflation data supported the case for another Federal Reserve rate cut next month.Change From Previous Close (%)MTD (%)YTD (%)Gold-0.21-6.4924.45Silver-0.23-7.4227.03LME Commodities (Down) Among LME commodities, Zinc prices rose 1.5 percent, Aluminium, Copper and Nickel shed 1 percent each.Change From Previous Close (%)MTD (%)YTD (%)Aluminium-1.27-3.326.15Copper-1.04-4.835.70Nickel-1.050.08-5.26Lead-0.77-0.54-2.90Zinc1.48-1.5812.15Fund Flow Action The foreign institutional investors (FIIs) sold equities of Rs 2,500 crore on November 13, while domestic institutional investors bought equities more than Rs 6,000  crore on the same day.13th NovMTDYTDFII Net Flows-2,502.58-1,20,892.57-2,62,880.07DII Net Flows6,145.241,89,442.974,95,026.68Hope you're all set for today's trade, we wish you a profitable day ahead.

2024-11-14 07:40

2024-11-14

07:40

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/asian-equities-climb-as-us-cpi-supports-fed-easing-12866822.html

Asian equities climb as US CPI supports Fed easing

In Asia, the yen stabilized early Thursday after slumping 0.6% Wednesday, its third session of weakening, to hit 155 per dollar for the first time since July..

Asian shares drifted higher Thursday after US inflation data supported the case for another Federal Reserve rate cut next month. Stocks in Japan and Australia climbed, while futures for Hong Kong fell as a gauge of US-listed Chinese companies declined Wednesday. Hong Kong’s stock exchange will keep its markets open despite signs of severe weather. US equities were little changed as the post-election rally appeared to stall. The S&P 500 was flat and the tech-heavy Nasdaq 100 dropped 0.2%. US consumer price data was in line with expectations on a headline basis, although the annualized three-month core rate picked up. Overall, the numbers were supportive of a potential Fed cut in mid-December with swaps traders increasing the likelihood to around 80% from about 56% earlier Wednesday. The nuanced data led short-end bond yields to fall, with the two-year yield dropping five basis points to 4.29%. The 10-year rose two basis points to the highest level since July. Treasuries were little changed in Asian trading Thursday. “A December cut is still in the cards,” said Seema Shah at Principal Asset Management. “A hotter-than-expected inflation number could have convinced the Fed to stand pat at its next meeting.” A gauge of the dollar was little changed after advancing Wednesday. In Asia, the yen stabilized early Thursday after slumping 0.6% Wednesday, its third session of weakening, to hit 155 per dollar for the first time since July. The drop has taken the yen near levels when Japanese authorities last intervened to prop up its currency, with the nation’s top foreign exchange official warning about the one-sided, sudden moves. China, which recently unveiled plans to support its ailing economy, got more than $40 billion of bids for its first dollar bond issuance since 2021. Australia’s unemployment rate held at 4.1% as expected. Other data set for release includes South Korean money supply and Thai consumer confidence. Investors will also be looking for any market reaction to better-than-anticipated profits for Tencent Holdings Ltd. The Chinese tech giant also described green shoots in the world’s second-largest economy in the wake of stimulus measures announced by Beijing in the past few weeks. Retail and home sales data due Friday is expected to show an uptick in momentum.

2024-11-14 07:30

2024-11-14

07:30

moneycontrol.com

https://www.moneycontrol.com/technology/amd-announces-job-cuts-to-lay-off-about-1000-employees-article-12866815.html

AMD announces job cuts, to lay off about 1,000 employees

AMD.

Advanced Micro Devices (AMD) has announced a reduction of its global workforce by 4%. According to a report by CNBC, the chipmaker is laying off about 1,000 employees. ″As a part of aligning our resources with our largest growth opportunities, we are taking a number of targeted steps that will unfortunately result in reducing our global workforce by approximately 4%,” an AMD spokesperson said in a statement. “We are committed to treating impacted employees with respect and helping them through this transition,” the spokesperson added. AMD's efforts to compete with industry leader Nvidia in the AI chip market have been challenging. The company has faced issues with inventory and has struggled to match Nvidia's performance in key AI training workloads. In 2024, Nvidia’s stock is up by almost 200% whereas AMD’s shares are down 5%. Despite a 29% growth in AMD's personal computer segment, the company's gaming division saw a significant 69% year-over-year decline. However, AMD remains optimistic about its next-generation MI350-series silicon, which is expected to launch in the second half of 2025 and deliver a significant increase in AI performance. Lisa Su, managing director, AMD, said during the company’s Q3 earnings call that the company is looking forward to the launch of its next-gen processors. “Our next-gen MI350-series silicon is looking very good, and is on track to launch in the second half of 2025, with the largest generational increase in AI performance we have ever delivered,” she said.

2024-11-14 07:20

2024-11-14

07:20

moneycontrol.com

https://www.moneycontrol.com/news/business/personal-finance/childrens-day-special-from-dreams-to-degrees-a-guide-to-planning-for-your-childs-crucial-milestones-12866627.html

Children’s Day Special | From dreams to degrees: A guide to planning for your child’s crucial milestones

Start investing early to create an adequate corpus for your child's secure future.

Think of planning for your child’s milestones as a high-stakes game of chess. Each move - whether setting aside savings or choosing an investment - requires foresight, timing and strategy. Just as chess players anticipate several moves ahead to avoid checkmates, financial planning demands a proactive approach, considering inflation, market shifts and future education costs. With the cost of education rising at a rate far higher than standard inflation, the goal of sending your child to a reputable institution becomes not just a distant thought but a financial reality that needs precise planning and sound strategy. Similarly, you might have other aspirations for your child for which you need to start planning today. The goal here is not to win in the short term but to position yourself for the ultimate endgame—ensuring your child’s dreams are secure, whatever the economy throws your way. Also read |How investing in mutual funds for overseas education can help Why start financial planning early Starting early is the golden rule for any financial goal but for parents planning for their child’s future, it is essential. The power of compounding—earning returns on both the principal and accumulated interest over time—multiplies with each additional year. Beginning the journey in your child's early years allows you to tackle rising costs without significantly compromising your lifestyle. Industry estimates suggest that education inflation in India was around 11-12 percent over the last decade vis-à-vis six percent of Consumer Price Inflation (CPI) during the same period. And if you are aiming to send your child abroad for studies, accounting for not just inflation but also currency depreciation is crucial, given that the rupee typically depreciates by around 4-5 percent per year, which adds to the cost. Also read |Children's Day Special: How to impart money lessons at a young age Building a sustainable corpus Financial planning for your child’s future entails more than just setting aside funds—it requires selecting investment avenues that can yield inflation-beating returns. Mutual funds, especially goal-basedsystematic investment plans(SIPs) in equity-oriented schemes, offer an effective path to achieving such returns. A goal-based SIP is a highly efficient way to counter education inflation and you can start the process by setting clear targets, estimating future costs and selecting funds that align with these aims. Large balanced funds, which combine equity and debt, are particularly suited for long-term goals. Automating SIP contributions ensures consistent saving, allowing your corpus to grow systematically while shielding you from market volatility. Starting early not only reduces the monthly investment needed but also eases the overall financial strain. For timeframes extending over a decade, equities must become an essential part of your investment strategy. Equity funds are designed for long-term goals and aim to deliver growth over time. Equities, though volatile in the short term, typically outperform other asset classes over the long haul, making them suitable for a 10-15-year horizon. If you are new to investing, consider starting with an aggressivehybrid fund, which combines equity and debt to reduce volatility. You may consider transitioning to options such as flexi or multi-cap funds, aligning with your comfort level and familiarity with market trends. Also read |How to get the best education loan? Here’s a primer Exploring alternative investments Alternative investment funds(AIFs) have experienced robust growth, with many well-heeled investors banking on this asset class to plan long-term goals like a child’s education, marriage and emergency needs. By the end of FY24, the AIF industry’s assets under management had surged by 36 percent on-year to reach Rs 11.35 lakh crore as per Securities and Exchange Board of India (SEBI) data, a testament to increasing investor interest. Within this, Category II AIFs—housing private equity, real estate and debt funds—witnessed substantial growth, climbing by 32 percent to Rs 9.12lakh crore. These funds can offer tailored strategies that provide access to unlisted assets and private debt funds, thus ensuring diversification and potentially generating quarterly income. Additionally, AIFs also provide access to private investment opportunities that come with a longer lock-in but also offer the potential for exponential returns. Accordingly, AIFs offer a differentiated, potentially high-return path that can help parents build a substantial corpus to meet the myriad needs of your child as she hits her multiple milestones. However, while exploring investment avenues and asset classes, you ought to consider various risk factors to support your child’s financial journey. While asset classes experience market fluctuations, a long-term perspective and a well-diversified portfolio can help mitigate these risks. Additionally, liquidity considerations are important as some AIFs come with extended lock-in periods. Preparing for your child’s future is a journey best begun early. Make each investment decision with a clear objective, monitor your progress regularly and adjust strategies as needed. With a proactive approach, you will not only secure your child’s major milestones but also instil a legacy of financial foresight and responsibility. The author is the CEO of 360 ONE Asset.

2024-11-14 07:13

2024-11-14

07:13

moneycontrol.com

https://www.moneycontrol.com/news/business/fbi-raids-polymarket-ceos-home-seizing-phone-electronics-12866811.html

FBI raids Polymarket CEO's home, seizing phone, electronics

The DOJ is investigating Polymarket for allegedly allowing U.S.-based users to bet on the site.

Federal law enforcement agents raided the downtown New York home of Polymarket CEO Shayne Coplan on Wednesday, seizing his phone and electronics, the company confirmed. The early-morning raid of Coplan’s SoHo apartment followed last week’s presidential election, in which bettors on Polymarket, an offshore, crypto-fueled election gambling website, had for weeks put Donald Trump’s odds drastically higher than those of Vice President Kamala Harris, in sharp divergence from opinion polls. Coplan, Polymarket’s 26-year-old founder, was roused from his bed at 6 a.m. by FBI agents demanding he give them his electronic devices. The DoJ is investigating Polymarket for allegedly allowing U.S.-based users to bet on the site, Bloomberg News reported Wednesday evening. Polymarket declined to comment on those allegations but a spokesperson said the FBI raid was "obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election." The company told Reuters Coplan had not been arrested or taken into custody. The FBI declined to comment. The Department of Justice and the White House did not respond to requests for comment on the raid. In the run-up to the presidential election, the site gained widespread attention for the way it placed Trump’s odds high above those of Harris, when opinion polls had for months shown the race in a dead heat. Polymarket, which does not allow trading in the US, also gained scrutiny after a mystery French trader, known as the Polymarket whale, made large bets on Trump winning the election. The trader’s huge wagers came in tandem with a dramatic rise in Trump’s chances on the exchanges. He walked away with more than $46 million in profit. Last week, France’s gambling regulator said it was examining whether Polymarket complies with French laws.

2024-11-14 07:01

2024-11-14

07:01

moneycontrol.com

https://www.moneycontrol.com/news/world/tulsi-gabbard-to-serve-as-director-of-national-intelligence-announces-trump-12866806.html

Tulsi Gabbard to serve as Director of National Intelligence, announces Trump

Gabbard hasn't worked directly in the intelligence community, outside of House committees, including two years on the Homeland Security Committee..

President-elect Donald Trump has chosen Tulsi Gabbard, a former Democratic member of Congress and presidential candidate, to serve as director of national intelligence, continuing to stock his Cabinet with loyal personalities complimentary to his own, rather than long-term professionals in their requisite fields. "As a former Candidate for the Democrat Presidential Nomination, she has broad support in both Parties - She is now a proud Republican!” Trump said in a statement. "I know Tulsi will bring the fearless spirit that has defined her illustrious career to our Intelligence Community, championing our Constitutional Rights, and securing Peace through Strength. Tulsi will make us all proud!” Gabbard, who has served in the Army National Guard for more than two decades, deploying to Iraq and Kuwait, would come to the role as somewhat of an outsider, compared to her predecessor. The current director, Avril Haines, was confirmed by the Senate in 2021 following several years in a number of top national security and intelligence positions. Gabbard hasn't worked directly in the intelligence community, outside of House committees, including two years on the Homeland Security Committee. Like others, Trump has selected for his agency leadership, she has been among his most popular political surrogates, often drawing thunderous responses from crowds as she stumped for him in the campaign's closing months.

2024-11-14 06:50

2024-11-14

06:50

moneycontrol.com

https://www.moneycontrol.com/news/world/biden-and-xi-jinping-to-meet-in-peru-on-nov-16-discuss-bilateral-relations-12866805.html

Biden and Xi Jinping to meet in Peru on Nov 16, discuss bilateral relations

The two leaders are scheduled to meet on November 16 at Lima, the capital of Peru, on the sidelines of the Asia-Pacific Economic Cooperation Summit..Related stories.

Outgoing US President Joe Biden will meet his Chinese counterpart Xi Jinping in Peru on Saturday on the sidelines of an international summit, during which the two leaders expect to review the bilateral relations, the White House said Wednesday. "We expect the president will use the opportunity to take stock of efforts to responsibly manage competition over the last four years, how the two countries have advanced areas of shared interest, and, even amidst deep differences and intense competition, have worked to do so," a senior administration official said. The two leaders are scheduled to meet on November 16 at Lima, the capital of Peru, on the sidelines of the Asia-Pacific Economic Cooperation Summit. The meeting would come just over two months before Donald Trump's return to the White House. This will be their third in-person meeting since Biden entered office. They previously met in Bali, in 2022, on the margins of the G20, and at Woodside, California in 2023, on the margins of APEC. The two presidents have known each other for more than a decade, dating back to when they were both vice presidents, and have spent many hours in meetings together. "We expect this will be their last meeting as presidents," said the official. Throughout his time in office, Biden has emphasised the importance of responsibly managing one of the world's most consequential relationships. "From the very beginning of this administration, four years ago, President Biden made it clear the United States would advance and protect our interests at home and abroad. And the framework of this administration's China policy -- invest, align, and compete -- has remained constant over the last four years," said the official. Biden has prioritised investments and sources of US strength at home, strengthened alliances abroad, and taken several measures to protect US technology and national security, the official said. "At the same time, the president has demonstrated that our two countries can and must manage our differences and prevent competition from veering into conflict or confrontation by maintaining open lines of communication and advancing cooperation in areas of shared interest," the official added. During the Saturday meeting with Xi, Biden will want to take stock of the progress the two countries have made in a number of areas since the Woodside Summit last year. Such cooperation can be an important stabilising force in the relationship, the official said. "For example, over the last year, the two sides have resumed military-to-military communications at all levels. At the senior level, the Chairman of the Joint Chiefs of Staff, General Brown, Secretary of Defense Austin, and the INDOPACOM commander have met or had telephone calls with their PRC counterparts over the last year,” said the official. Noting that the US and China also restarted the Defense Policy Coordination Talks in January, 2024 and have carried out agreed-upon defense engagements since, to include the Military Maritime Consultative Agreement, MMCA, the official said these discussions are important to avoid misunderstanding and miscalculation. "For the first time this year, I should add as well, both sides pre-notified their respective ICBM launches. Biden has made clear and will continue to emphasise the importance of maintaining military-to-military communications at all times and especially during times of heightened tension,” said the official. In addition to discussing issues related to AI and climate change, President Biden will warn that cyber pre-positioning on civilian critical infrastructure and engaging in reckless attacks against critical networks of the US are "unacceptable", the official said, adding that such actions could destabilise the current bilateral relationship and lead to an even broader de-risking away from PRC (People's Republic of China) technology. "I expect the President will also underscore the importance of maintaining peace and stability across the Taiwan Strait and express his concerns that the PRC’s increased military activities around Taiwan are destabilising and eroding the status quo," the official said. Biden is also likely to express concern over Chinese actions in the South China Sea, including China coast guard actions against lawful maritime operations by other South China Sea claimant countries. "And of course, the President will also underscore his longstanding concern with the PRC's unfair trade policies and non-market economic practices, which have over time created an unlevel playing field for American workers,” said the official.

2024-11-14 06:49

2024-11-14

06:49

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/markets-see-80-chance-of-december-fed-cut-after-us-inflation-data-12866800.html

Markets see 80% chance of December Fed cut after US inflation data

A trader works on the floor of the New York Stock Exchange. Photographer: Michael Nagle/Bloomberg.Related stories.

Traders added to wagers that the Federal Reserve will cut interest rates by another quarter point next month after in-line inflation data, spurring gains for Treasury debt. The rally trimmed yields on two-year notes, more closely tied than longer tenors to Fed rate decisions, by as much as 10 basis points to 4.24%. Swaps traders boosted to about 80% the probability that the Fed will cut rates again on Dec. 18, up from around 56% earlier Wednesday. Through June, they priced in just over 60 basis points of cumulative reductions. The October consumer price index data quelled concern about halting progress toward lower inflation even before President-elect Donald Trump takes office in January. Bond traders in the weeks leading up to the Nov. 5 election — which pollsters said was too close to call — had lowered their expectations for additional Fed rate cuts over the coming year. “Bang in-line core inflation leaves the Fed on track to cut rates in December,” said Lindsay Rosner, head of multi-sector fixed income investing at Goldman Sachs Asset Management. “After a run of unseasonably hot autumn data, today’s number cools fears of an imminent slowdown in the pace of rate cuts.” Longer-dated rates declined less, then rebounded amid the latest surge in new corporate bond sales. Yields remain near the highest levels in months, reached in the week since the election of Trump, whose tax policies have been predicted to be inflationary. Republicans also won control of both chambers of Congress, news networks said Wednesday after the final House races were called, facilitating implementation of the policies. Consumer prices rose 2.6% year-on-year in October overall and 3.3% excluding the volatile food and energy categories. Both figures matched the median forecasts of economists in a Bloomberg survey. The figures underscore the slow and frustrating nature of thebattle against inflation, which has often moved sideways — sometimes for months at a time — on its broader path down. “The biggest news we are interested in is the fiscal adjustment and what that is going to look like” under the new administration, said Frances Newton Stacy, economic strategist and wealth manager at Scarlet Oak Financial Services. “Bonds are having a hard time pricing all this in.” Before the CPI data, traders had been piling into bets that the Trump agenda would lead to further losses in Treasuries. Open interest — the number of contracts in which traders have positions — in Treasury futures suggests an increase in new hedges for higher yields since the election. Wednesday’s Treasury futures activity after the data included a couple of large block trades in the five-year note contract that appeared to contribute to the rally. “We maintain our call for a 25-basis-point cut at the December FOMC meeting, but believe that it could still be a close call, given there will be one more payroll report and CPI report,” Barclays economists Pooja Sriram wrote in a note with her colleagues on Wednesday. Last week, the team revised upward their baseline CPI forecast for 2025 to incorporate Trump’s proposed policies, mainly reflecting plans for increased tariffs. Fed policymakers have been delivering the message that — after their initial half-point rate cut in September and a quarter-point reduction on Nov. 7 — future moves are contingent on inflation continuing to show improvement. Officials echoed that after the CPI data were released Wednesday. Minneapolis Fed President Neel Kashkari, speaking on Bloomberg Television, said he views inflation as “heading in the right direction” but the December decision would take into account future economic data. Dallas Fed President Lorie Logan said the Fed should “proceed cautiously at this point” because of the risk inflation remains elevated. Kansas City Fed President Jeff Schmid on Wednesday sounded a note of caution about how much more the US central bank will need to lower interest rates. St. Louis Fed President Alberto Musalem said the central bank is within sight of its inflation and employment goals. Trump’s agenda — which includes tax cuts — is seen expanding the federalbudgetdeficit, requiring increased US debt issuance. Investors are accordingly demanding higher Treasury yields as the price of providing additional financing. While some have predicted 10-year yields will return to the 5% as Treasury supply increased, not all are convinced. Stephen Jen, Eurizon SLJ’s chief executive officer, said the US 10-year Treasury yield is already too high, and he sees 3.5% as fair value. He wrote that consensus Trump trades are at risk of faltering as the incoming administration’s policies might produce more positive results on the fiscal front than markets are assuming. What Bloomberg strategists say...“Treasury moves in the coming months are going to come in reaction to economic and inflation data influenced by past fiscal and monetary policy — from as distant as 12 or 18 months ago. Any inflation from the future Trump administration’s policies won’t be felt until well into the future. In the here and now then, the question is whether the Fed has helped to stick the soft landing, and whether, having done so, has allowed inflation to remain elevated well above target. This report doesn’t answer that question.” Many of Trump’s ideas “are pro-growth policies, though having said that, the wild card is tariffs,” said Earl Davis, head of fixed income and money markets at BMO Global Asset Management in a telephone interview. Investors are “still trying to find how much risk premium is needed now – and the market is saying it’s definitely not less.” Davis expects increased debt issuance next year and favors buying inflation-protected over so-called nominal Treasury debt. The 10-year TIPS yield is about 2.1%, up from as low as 1.5% in mid-September, a period in which the nominal 10-year yield climbed about 80 basis points as inflation expectations increased.

2024-11-14 06:09

2024-11-14

06:09

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/stock-radar-eicher-motors-niva-bupa-cipla-zomato-nykaa-varun-beverages-vodafone-idea-nalco-in-focus-on-thursday-12866786.html

Stock Radar: Eicher Motors, Niva Bupa, Cipla, Zomato, Nykaa, Varun Beverages, Vodafone Idea, NALCO in focus on Thursday

Stocks in News.Related stories.

Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, and fund-raising, here’s a quick look at which stocks will be in focus in today's trade: Results Today Hero MotoCorp, Grasim Industries, Brainbees Solutions Firstcry, Honasa Consumer Mamaearth, Glenmark Pharmaceuticals, Ipca Laboratories, Bajaj Healthcare, Bharat Dynamics, Hindustan Aeronautics, Bharat Forge, Muthoot Finance, Ahluwalia Contracts, Anupam Rasayan India, Balaji Amines, Crompton Greaves Consumer Electricals, Delhivery, Easy Trip Planners, GVK Power & Infrastructure, ITI, Jyoti CNC Automation, Lemon Tree Hotels, Medi Assist Healthcare Services, Nazara Technologies, and Sobha will announce their September quarter earnings on November 14. Quarterly Earnings Eicher MotorsQ2 (Consolidated YoY) Profit grows 8.3% to Rs 1,100.3 crore Vs Rs 1,016.3 crore Revenue increases 3.6% to Rs 4,263.1 crore Vs Rs 4,114.5 crore EBITDA rises 0.05% to Rs 1,087.7 crore Vs Rs 1,087.2 crore Margin declines 90 bps to 25.5% Vs 26.4% Vodafone IdeaQ2 (Consolidated QoQ) Loss widens to Rs 7,175.9 crore Vs loss of Rs 6,432.1 crore Revenue increases 4% to Rs 10,932.2 crore Vs Rs 10,508.3 crore EBITDA grows 8.2% to Rs 4,549.8 crore Vs Rs 4,204.7 crore Margin expands 160 bps to 41.6% Vs 40% ARPU jumps 7.8% to Rs 166 Vs Rs 154 National Aluminium CompanyQ2 (Standalone YoY) Profit zooms 415% to Rs 1,062.2 crore Vs Rs 206.3 crore Revenue jumps 31.5% to Rs 4,001.5 crore Vs Rs 3,043.8 crore EBITDA spikes 290.3% to Rs 1,549 crore Vs Rs 396.9 crore Margin expands sharply 2,570 bps to 38.7% Vs 13% ThermaxQ2 (Consolidated YoY) Profit grows 24.8% to Rs 198 crore Vs Rs 158.6 crore Revenue increases 13.4% to Rs 2,611.6 crore Vs Rs 2,302.5 crore EBITDA jumps 35.8% to Rs 278 crore Vs Rs 204.6 crore Margin expands 170 bps to 10.6% Vs 8.9% Board approves loan/equity support of Rs 350 crore in one or more tranches to its subsidiary First Energy Rashtriya Chemicals & FertilizersQ2 (Consolidated YoY) Profit spikes 54.7% to Rs 79 crore Vs Rs 51 crore Revenue grows 3.2% to Rs 42.9 crore Vs Rs 41.6 crore Torrent PowerQ2 (Consolidated YoY) Profit falls 8.5% to Rs 481 crore Vs Rs 525.9 crore Revenue rises 3.1% to Rs 7,175.8 crore Vs Rs 6,960.9 crore PI IndustriesQ2 (Consolidated YoY) Profit increases 5.8% to Rs 508.2 crore Vs Rs 480.5 crore Revenue grows 4.9% to Rs 2,221 crore Vs Rs 2,116.9 crore Godrej IndustriesQ2 (Consolidated YoY) Profit zooms 229.5% to Rs 287.6 crore Vs Rs 87.3 crore Revenue grows 22% to Rs 4,805 crore Vs Rs 3,937.6 crore Thomas Cook IndiaQ2 (Consolidated YoY) Profit surges 40% to Rs 71.96 crore Vs Rs 51.5 crore Revenue rises 8.7% to Rs 2,003.8 crore Vs Rs 1,843.4 crore AstraZeneca PharmaQ2 (YoY) Profit plunges 26.6% to Rs 38.4 crore Vs Rs 52.4 crore Revenue jumps 31.2% to Rs 408 crore Vs Rs 311.1 Exceptional item Nil Vs exceptional gain of Rs 16.4 crore Sun TV NetworkQ2 (Consolidated YoY) Profit declines 11.9% to Rs 409.3 crore Vs Rs 464.7 crore Revenue falls 10.9% to Rs 934.5 crore Vs Rs 1,048.5 crore VRL LogisticsQ2 (YoY) Profit jumps 81.7% to Rs 35.8 crore Vs Rs 19.7 crore Revenue rises 12.7% to Rs 799.5 crore Vs Rs 709.3 crore Shilpa MedicareQ2 (Consolidated YoY) Profit spikes 11-fold to Rs 17.94 crore Vs Rs 1.6 crore Revenue increases 9.8% to Rs 343.8 crore Vs Rs 313 crore Garden Reach Shipbuilders and EngineersQ2 (YoY) Profit rises 21.1% to Rs 97.8 crore Vs Rs 80.7 crore Revenue jumps 28.4% to Rs 1,153 crore Vs Rs 897.9 crore KSBQ2 (Consolidated YoY) Profit climbs 23.2% to Rs 61.7 crore Vs Rs 50.1 crore Revenue increases 9.4% to Rs 616.5 crore Vs Rs 563.7 crore Gujarat Narmada Valley Fertilizers & ChemicalsQ2 (Consolidated YoY) Profit tanks 42.3% to Rs 105 crore Vs Rs 182 crore Revenue falls 7.8% to Rs 1,917 crore Vs Rs 2,080 crore Dilip BuildconQ2 (Consolidated YoY) Profit surges 263.2% to Rs 265.9 crore Vs Rs 73.2 crore Revenue declines 13.6% to Rs 2,461.3 crore Vs Rs 2,848.7 crore Exceptional gain at Rs 158.4 crore Vs gain at Rs 89.3 crore Deepak NitriteQ2 (Consolidated YoY) Profit falls 5.3% to Rs 194.2 crore Vs Rs 205.1 crore Revenue grows 14.3% to Rs 2,032 crore Vs Rs 1,778 crore Apollo TyresQ2 (Consolidated YoY) Profit sinks 37.3% to Rs 297.5 crore Vs Rs 474.3 crore Revenue rises 2.5% to Rs 6,437 crore Vs Rs 6,279.6 crore HEGQ2 (Consolidated YoY) Profit declines 14.3% to Rs 82.3 crore Vs Rs 96 crore Revenue slips 7.6% to Rs 567.6 crore Vs Rs 614.2 crore Brigade EnterprisesQ2 (Consolidated YoY) Profit falls 10.9% to Rs 119 crore Vs Rs 133.5 crore Revenue declines 21.5% to Rs 1,072.2 crore Vs Rs 1,366.6 crore Lumax Auto TechnologiesQ2 (Consolidated YoY) Profit zooms 56.5% to Rs 42.9 crore Vs Rs 27.4 crore Revenue grows 20.3% to Rs 842.3 crore Vs Rs 700.2 crore Stocks To Watch Varun Beverages The company has opened its Qualified Institutions Placement (QIP) issue on November 13. The floor price has been fixed at Rs 594.56 per share. Tata Power Company The company’s subsidiary, Tata Power Renewable Energy, has commissioned floating solar projects of 126 MW in Omkareshwar, Madhya Pradesh. Inox Green Energy Services The board has approved the demerger of the company’s power evacuation business. Resco Global Wind Services will undertake the power evacuation business. Stocks to be added to F&O Total 45 stocks - Adani Energy Solutions, Adani Green Energy, Angel One, APL Apollo Tubes, Adani Total Gas, Bank of India, BSE, CAMS, CDSL, CESC, CG Power, Cyient, Delhivery, Avenue Supermarts, HFCL, HUDCO, Indian Bank, IRB Infrastructure, IRFC, Jio Financial, Jindal Stainless, JSW Energy, Kalyan Jewellers, KEI Industries, KPIT Technologies, LIC, Macrotech Developers, Max Healthcare, NCC, NHPC, FSN E-Commerce Ventures Nykaa, Oil India, One 97 Communications Paytm, PB Fintech, Poonawalla Fincorp, Prestige Estates, SJVN, Sona BLW, Supreme Industries, Tata Elxsi, Tube Investments, Union Bank Of India, Varun Beverages, Yes Bank, and Zomato - will be added to the Futures & Options segment by the NSE, effective November 29. Cipla Following an inspection of its Bengaluru facility, Cipla has received 8 observations in Form 483 from the US Food and Drug Administration (US FDA). The inspection took place at the company’s manufacturing facility in Virgonagar, Bengaluru, from November 7 to 13. Bulk Deals PNB Housing Finance Quality Investment Holdings PCC sold a 9.43% stake in the housing finance company at an average price of Rs 939.42 per share, valued at Rs 2,301.6 crore. Ghisallo Master Fund LP, Morgan Stanley, and Societe Generale - ODI purchased a 6.82% stake in PNB Housing at an average price of Rs 939.3 per share, amounting to Rs 1,664.6 crore. ACME Solar Holdings Morgan Stanley IFSC Fund sold a 0.51% stake in ACME at an average price of Rs 260.31 per share. Block Deals Trent Investor Siddhartha Yog acquired a 0.38% stake in Trent from Dodona Holdings at an average price of Rs 6,495 per share, amounting to Rs 878.37 crore. Mainboard Listing on November 14 Niva Bupa Health Insurance Company Stocks Trade Ex-Dividend Power Grid Corporation of India, Oil India, Aptus Value Housing Finance India, Amara Raja Energy & Mobility, Astral, Container Corporation of India, Gretex Corporate Services, Indian Metals & Ferro Alloys, Indian Railway Catering and Tourism Corporation, KP Energy, KP Green Engineering, KPI Green Energy, National Highways Infra Trust, Page Industries, QGO Finance, RITES Stock Trades Ex-Date for Resolution Plan-Suspension Carnation Industries Stocks Trade Ex-Date for Split Contil India, Jost's Engineering, JTL Industries Stock Trades Ex-Date for Rights Pradhin Stock Turns Ex-Bonus Worth Investment & Trading F&O ban GNFC, Aarti Industries, Aditya Birla Fashion & Retail, Granules India, Hindustan Copper

2024-11-14 03:42

2024-11-14

03:42

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/trade-setup-for-thursday-top-15-things-to-know-before-the-opening-bell-70-12866680.html

Trade setup for Thursday: Top 15 things to know before the opening bell

Nifty Trade Setup.Related stories.

The significant selling pressure in the market continued, with the Nifty 50 losing more than one percent for the second consecutive session on November 13. This was driven by nervousness in global markets and a spike in CPI inflation. The index formed a long bearish candlestick once again and eventually hit the 200-day EMA support at 23,540. If the index decisively falls below this level, it may reach the second target (around 23,200) of the Head and Shoulders pattern in the upcoming sessions. However, on the upside, the levels to watch are 23,900-24,000, experts said. Here are 15 data points we have collated to help you spot profitable trades: 1)Key Levels For TheNifty 50(23,559) Resistance based on pivot points: 23,787, 23,872, and 24,011 Support based on pivot points: 23,508, 23,422, and 23,283 Special Formation: The Nifty 50 formed a long bearish candlestick pattern on the daily charts, continuing the downtrend and the formation of lower lows for the fifth consecutive session with above-average volumes, which is a negative sign. The momentum indicator RSI (Relative Strength Index) remained in negative territory and reached 30, the oversold zone. For the week, the index fell by 2.44 percent and formed a long red candle on the weekly charts. It traded below the lower band of the Bollinger Bands on both the daily and weekly timeframes. 2)Key Levels For TheBank Nifty Resistance based on pivot points: 51,002, 51,344, and 51,898 Support based on pivot points: 49,895, 49,553, and 49,000 Resistance based on Fibonacci retracement: 52,353, 52,852 Support based on Fibonacci retracement: 50,298, 49,303 Special Formation: The Bank Nifty also hit the 200-day EMA at 49,903 and formed a large bearish candlestick pattern on the daily timeframe. It fell below the lower band of the Bollinger Bands and decisively broke the upward-sloping support trendline, signaling a negative outlook. The index dropped by 2.09 percent, or 1,069 points, closing at 50,088, its lowest closing level since August 14. This decline was accompanied by a negative crossover in the momentum indicators RSI and MACD (Moving Average Convergence Divergence). Wednesday marked the last day for the weekly expiry; from now on, there will only be a monthly expiry for the index. 3)Nifty Call Options Data According to the weekly options data, the 24,000 strike holds the maximum open interest (with 1.06 crore contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 24,500 strike (1.03 crore contracts), and the 24,200 strike (1.01 crore contracts). Maximum Call writing was observed at the 23,800 strike, which saw an addition of 70.84 lakh contracts, followed by the 24,000 and 23,700 strikes, which added 43.64 lakh and 39.63 lakh contracts, respectively. The maximum Call unwinding was seen at the 24,700 strike, which shed 21.16 lakh contracts, followed by the 24,600 and 24,800 strikes which shed 16.35 lakh, and 10.43 lakh contracts, respectively. 4)Nifty Put Options Data On the Put side, the maximum open interest was seen at the 23,000 strike (with 83.71 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 22,500 strike (63.72 lakh contracts), and the 23,300 strike (61.31 lakh contracts). The maximum Put writing was placed at the 23,300 strike, which saw an addition of 45.71 lakh contracts, followed by the 22,200, and 22,800 strikes, with 28.89 lakh, and 27.02 lakh contracts added, respectively, while the maximum Put unwinding was seen at the 23,900 strike, which shed 16.03 lakh contracts, followed by the 23,800 and 24,000 strikes which shed 15.59 lakh and 13.78 lakh contracts, respectively. 5)Bank Nifty Call Options Data According to the monthly options data, the 52,000 strike holds the maximum open interest, with 15.8 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 51,500 strike (10.54 lakh contracts) and the 51,000 strike (9.55 lakh contracts). Maximum Call writing was visible at the 51,000 strike (with the addition of 6.36 lakh contracts), followed by the 51,500 strike (5.43 lakh contracts) and the 50,500 strike (4.93 lakh contracts), while there was hardly any Call unwinding seen. 6)Bank Nifty Put Options Data On the Put side, the maximum open interest was seen at the 49,500 strike (with 16 lakh contracts), which can act as a key support level for the index. This was followed by the 50,000 strike (12.85 lakh contracts) and the 49,000 strike (11.7 lakh contracts). The maximum Put writing was observed at the 49,500 strike (which added 12.75 lakh contracts), followed by the 49,000 strike (6.68 lakh contracts) and the 50,000 strike (5.44 lakh contracts), while the maximum Put unwinding was seen at the 51,500 strike, which shed 71,730 contracts, followed by the 52,000 and 51,800 strikes, which shed 50,130 and 5,025 contracts, respectively. 7)Funds Flow (Rs crore) 8)Put-Call Ratio The Nifty Put-Call ratio (PCR), which indicates the mood of the market, declined at 0.70 on November 13, from 0.72 level in the previous session. The increasing PCR, or being higher than 0.7 or surpassing 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market. If the ratio falls below 0.7 or moves towards 0.5, then it indicates selling in Calls is higher than selling in Puts, reflecting a bearish mood in the market. 9)India VIX Volatility spiked again, leading to a cautious stance among bulls. Bulls need to remain cautious until volatility drops to lower zones around the 12-13 levels. The India VIX, a measure of market fear, rose by 5.8 percent to 15.44, up from 14.59. 10)Long Build-up (4 Stocks) A long build-up was seen in 4 stocks. An increase in open interest (OI) and price indicates a build-up of long positions. 11)Long Unwinding (88 Stocks) 88 stocks saw a decline in open interest (OI) along with a fall in price, indicating long unwinding. 12)Short Build-up (82 Stocks) 82 stocks saw an increase in OI along with a fall in price, indicating a build-up of short positions. 13)Short-Covering (5 Stocks) 5 stocks saw short-covering, meaning a decrease in OI, along with a price increase. 14)High Delivery Trades Here are the stocks that saw a high share of delivery trades. A high share of delivery reflects investing (as opposed to trading) interest in a stock. 15)Stocks Under F&O Ban Securities banned under the F&O segment include companies where derivative contracts cross 95 percent of the market-wide position limit. Stocks added to F&O ban: GNFC Stocks retained in F&O ban: Aarti Industries, Aditya Birla Fashion & Retail, Granules India, Hindustan Copper Stocks removed from F&O ban: Manappuram Finance Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

2024-11-14 01:27

2024-11-14

01:27

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/trade-spotlight-how-should-you-trade-bharti-hexacom-hcl-technologies-granules-india-dr-lal-pathlabs-bse-and-others-on-thursday-12866776.html

Trade Spotlight: How should you trade Bharti Hexacom, HCL Technologies, Granules India, Dr Lal PathLabs, BSE, and others on Thursday?

Stock Ideas.Related stories.

The market corrected by more than one percent for another session and hit a nearly five-month low on November 13, with the overall breadth remaining in the control of bears. A total of 2,222 shares declined, while 266 shares gained on the NSE. The downward pressure may persist in the market, given the strong control exerted by bears over Dalal Street. Below are some trading ideas for the near term: Vidnyan S Sawant, Head of Research at GEPL Capital Bharti Hexacom| CMP: Rs 1,426 On the weekly chart, Bharti Hexacom shows a strong price structure, staying consistently above its 12-week EMA (Exponential Moving Average). Recently, the stock experienced a bullish mean reversion, with the RSI (Relative Strength Index) momentum indicator holding firm above 60. Additionally, a bullish crossover on the daily chart further strengthens the positive momentum. Strategy: Buy Target: Rs 1,590 Stop-Loss: Rs 1,340 BSE| CMP: Rs 4,492 Despite current market uncertainty, BSE has demonstrated strong resilience relative to the broader market, indicating high relative strength. The stock remains well above key moving averages (12, 26, 50, 100, and 200-week EMAs), supporting its uptrend. Positive momentum is further confirmed by the MACD (Moving Average Convergence Divergence) indicator. Strategy: Buy Target: Rs 5,165 Stop-Loss: Rs 4,220 HCL Technologies| CMP: Rs 1,865 The Nifty IT sector has shown resilience during the current market correction, with HCLTech displaying a bullish structure on the weekly chart. Since the polarity shift in June 2024, the stock has maintained an upward trajectory, staying firmly above the key 12- and 26-week EMAs. The MACD study, trending higher, reinforces the positive momentum. Strategy: Buy Target: Rs 2,126 Stop-Loss: Rs 1,750 Innova Captab| CMP: Rs 961 Innova Captab displays a robust chart structure and high relative strength on the weekly scale. The stock is in a rising trend and remains well-positioned above its key 12- and 26-week moving averages, indicating a positive trend. The MACD indicator remains in buy mode, reinforcing the stock's bullish sentiment. Strategy: Buy Target: Rs 1,113 Stop-Loss: Rs 884 Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas Grasim Industries| CMP: Rs 2,503 Grasim Industries has witnessed a decline towards the Rs 2,500 level, where support from the 40-week average is placed. On the daily charts, the stock has formed a Hammer candlestick pattern, which has bullish implications. Positive divergence is visible on the hourly timeframe, suggesting that the selling pressure is declining. Therefore, the stock has a high probability of reversing from current levels and pulling back towards Rs 2,630, where the 20-day average is placed. A stop-loss of Rs 2,470 should be maintained for long positions. Strategy: Buy Target: Rs 2,630 Stop-Loss: Rs 2,470 Dr Lal PathLabs| CMP: Rs 2,957 Dr Lal PathLabs has broken down from a Symmetrical Triangle pattern on the daily charts and has now started the next leg of its decline, which could take the stock down to the Rs 2,840 level, near the weekly lower Bollinger Band. A stop-loss of Rs 3,028 should be set for short positions. Strategy: Sell Target: Rs 2,840 Stop-Loss: Rs 3,028 Shitij Gandhi, Senior Technical Research Analyst at SMC Global Securities HDFC Life Insurance Company| CMP: Rs 685 HDFC Life has been trading lower, with the formation of lower highs and lower lows on short-term charts. After a period of consolidation in the range of Rs 700-740, the stock has broken down below its key support zone on broader charts. The negative price action, along with the channel breakdown, suggests further downside potential. Therefore, one can consider short-selling the stock on any rise in the range of Rs 700-705, with an expected downside to Rs 670-665 levels. Strategy: Sell Target: Rs 670, Rs 665 Stop-Loss: Rs 725 Granules India| CMP: Rs 532 In recent weeks, Granules India has been consolidating in a broad range of Rs 540-620, with prices facing selling pressure on every rise. Technically, the stock has given a fresh breakdown below the neckline of the Head & Shoulders pattern after a prolonged consolidation phase. Negative divergences on secondary oscillators also support the possibility of further downside in the stock. Therefore, one can short-sell the stock in the range of Rs 540-550, targeting an expected downside to Rs 490-485 levels. Strategy: Sell Target: Rs 490, Rs 485 Stop-Loss: Rs 575

2024-11-14 01:18

2024-11-14

01:18

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/trading-plan-can-nifty-50-decisively-break-200-dema-bank-nifty-hit-august-low-12866763.html

Trading Plan: Can Nifty 50 decisively break 200 DEMA, Bank Nifty hit August low?

Nifty Trading Plan in Downtrend.Related stories.

Bears remained aggressive, dragging the benchmark Nifty 50 and Bank Nifty down to the 200 DEMA (Day Exponential Moving Average) intraday on November 13. Both indices formed long bearish candles on the daily charts for two consecutive days. Hence, if the Nifty 50 breaks below the 200 DEMA (23,540), it may fall to 23,200, followed by the 23,000 mark. However, on the higher side, resistance is placed at 23,800, experts said. A decisive fall below the 200 DEMA (49,900) could drive the Bank Nifty down to the August low of 49,650. In case of a rebound, the 50,800 level could act as the resistance zone. On Wednesday, the Nifty 50 plunged 324 points, or 1.4 percent, to 23,559, marking the lowest closing level since June 24. The Bank Nifty tanked by 1,070 points, or 2.09 percent, to 50,088. A total of 2,222 shares fell, compared to 266 advancing shares on the NSE. Nifty Outlook and Strategy Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas On the daily charts, we can observe that the Nifty 50 has witnessed follow-through pressure and has inched closer to the 200 DEMA. We believe that the index is in the process of retracing the rise it has witnessed from 21,280 to 26,277. The 61.82 percent Fibonacci retracement level of that rally is placed at 23,180. Thus, more downside is likely from current levels, and intraday pullbacks should be used as selling opportunities. On the upside, the immediate hurdle zone is between 23,720 and 23,750 from a short-term perspective. Key Resistance: 23,800, 23,850 Key Support: 23,360, 23,300 Strategy: Sell Nifty with a stop-loss of 23,820, targeting 23,360–23,180. Vidnyan S Sawant, Head of Research at GEPL Capital On the daily scale, the Nifty 50 continues to form lower tops and lower bottoms, indicating weakness as it fails to hold above key short-term averages. The recent breach below the crucial support level of 23,800 signals a shift in sentiment from neutral to negative, suggesting a potential trend reversal. This downward correction could extend further to the 23,540–23,200 zone. On the upside, any pullback is likely to face resistance around the 23,800–23,980 level. Key Resistance: 23,800, 23,980 Key Support: 23,540, 23,200 Strategy: Sell Nifty below 23,540, with a stop-loss of 23,700, targeting 23,200. Shitij Gandhi, Senior Technical Research Analyst at SMC Global Securities The Nifty indices fell for a fifth consecutive session on November 13, driven by persistent selling pressure from foreign institutional investors (FIIs). This latest downturn was intensified by sustained foreign investor outflows, disappointing corporate earnings, and rising inflation. The overall trend is now expected to remain in favour of the bears, and any rise in prices due to a technical bounce should be used to unwind long positions from a short-term perspective. However, intraday volatility is likely to grip the markets in the upcoming sessions as well. Key Resistance: 23,800, 24,000 Key Support: 23,500, 23,300 Strategy: Sell on rallies near 23,800, with a stop-loss above 24,000, targeting 23,500. Bank Nifty - Outlook and Positioning Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas The Bank Nifty has witnessed a breakdown from its sideways consolidation range and is now heading toward the 49,700 level, which is the 200-day moving average. On the upside, the 50,800–50,900 range is expected to act as an immediate resistance zone from a short-term perspective. Bollinger Bands have begun to expand, and prices are trading along the lower band, suggesting that the fall is likely to continue. The daily momentum indicator has shown a negative crossover, which is a sell signal. Thus, both price action and the momentum indicator suggest that weakness is likely to continue. Key Resistance: 50,600, 50,800 Key Support: 49,800, 49,700 Strategy: Sell Bank Nifty with a stop-loss of 50,800, targeting 49,700. Vidnyan S Sawant, Head of Research at GEPL Capital Bank Nifty is consolidating around its 50-day and 100-day EMAs, having tested its lower range at the 50,000 level on Wednesday, which is near the 200-day EMA. If the index holds below this level, it could signal a corrective phase, with support zones in the range of 49,500–49,000. On the upside, resistance is likely to emerge around the 50,800–51,300 range. Currently, Bank Nifty remains in a neutral sentiment. Key Resistance: 50,800, 51,300 Key Support: 49,500, 49,000 Strategy: Sell Bank Nifty below 50,000, with a stop-loss of 50,250, targeting 49,500. Shitij Gandhi, Senior Technical Research Analyst at SMC Global Securities The Bank Nifty also faced immense selling pressure from higher levels. The broad-based selloff in frontline banking stocks dampened investor sentiment. Technically, Bank Nifty has given a sharp breakdown below its key psychological support of 51,000 and is likely to witness further selling pressure in the upcoming sessions. The immediate support is placed at the 50,000 mark for the index, below which we can expect the next round of selling pressure. Key Resistance: 50,800, 51,200 Key Support: 50,000, 49,800 Strategy: Sell Bank Nifty on a rise near 50,900, with a stop-loss above 51,200, targeting 50,400.

2024-11-14 00:43

2024-11-14

00:43

moneycontrol.com

https://www.moneycontrol.com/technology/youtube-app-update-brings-bugs-that-are-affecting-video-playback-heres-how-you-can-fix-it-article-12866739.html

YouTube app update brings bugs that are affecting video playback, here’s how you can fix it

YouTube.Related stories.

Google has rolled out a new update for the YouTube app on Android with updated granular playback speed control on the app. However, the update also includes two bugs, affecting the mini player and playback resumption features within the app. These issues have been widely reported by users on platforms like Reddit, with many noting they began experiencing problems shortly after the recent update. Miniplayer and Portrait Playback Issues The first reported issue of the YouTube app after the update affects the miniplayer. Users have reported that moving the mini player to the right side of the screen causes it to vanish temporarily, only reappearing when the video thumbnail is clicked again.This issue, documented in a video shared by Reddit user a1200i, shows the mini player sliding off-screen when positioned to the right. The issue doesn’t appear to affect all devices, as some users on both stable and beta YouTube builds report that their mini player works without problems. The second bug affects playback when switching between portrait and landscape modes. Reddit user zomby_c described an issue where pausing a video in landscape mode and returning to portrait mode makes it impossible to resume playback without switching back to full-screen mode. How to fix both the problems Well, the issues within the YouTube app appear to be a part of the recent update that Google has rolled out. There are two things you can do to fix it. First, don’t update the app, if you haven’t already. Second, if you have updated the app, then roll it back to the previous version. To do this, head to Settings → Search YouTube – Open it → Tap on three dots at the top right corner → Select Uninstall updates. Doing this will probably solve both problems. The last option is to wait for Google to update the app again with a fix for the bugs.

2024-11-14 00:00

2024-11-14

00:00

moneycontrol.com

https://www.moneycontrol.com/news/world/republican-john-thune-of-south-dakota-elected-next-senate-majority-leader-12866757.html

Republican John Thune of South Dakota elected next Senate majority leader

US Senate Republicans pick insider John Thune as their next leader.

Republicans have elected South Dakota Senator John Thune as the next Senate majority leader, completing a momentous shift in their leadership that elevates a top deputy of Senator Mitch McConnell into a key position as President-elect Donald Trump returns to the White House. Thune will be a crucial part of the incoming president’s efforts to push through his policy agenda. He beat out two other competitors, Sens. John Cornyn of Texas and Rick Scott of Florida, by gaining majority support from GOP senators in a secret ballot vote. Republicans are replacing Kentucky’s McConnell, the longest serving Senate party leader, as they prepare to take majority control with the 53 seats they won in last week’s elections. Like McConnell, Thune hails from the Republican Party’s more traditional wing. He has held the Republican whip position – the No. 2 in party leadership – since 2019. At times, Thune has countered Trump’s wishes for Congress, and he broke publicly with Trump over the effort to overturn the results of the 2020 presidential election. But in recent months, Thune has realigned with Trump, and the two have been consulting on how to implement the incoming president’s agenda.

2024-11-13 23:11

2024-11-13

23:11

moneycontrol.com

https://www.moneycontrol.com/news/companies-2/apollo-tyres-q2-net-profit-falls-37-to-rs-297-crore-12866756.html

Apollo Tyres Q2 net profit falls 37% to Rs 297 crore

Apollo Tyres' board approved the raising of funds of up to Rs 1,000 crore by issue of non-convertible debentures.

Apollo Tyres on November 13 said its consolidated profit after tax declined 37 percent to Rs 297 crore in the September 2024 quarter, hit by tepid demand in the domestic market and an increase in raw material prices. The tyre maker posted a Profit After Tax (PAT) of Rs 474 crore in the July-September quarter of last fiscal. Revenue from operations stood at Rs 6,437 crore in the second quarter against Rs 6,280 crore in the year-ago period,Apollo Tyressaid in a statement. "We witnessed a weak demand scenario in the OEM (Original Equipment Manufacturer) segment in our largest market — India, which negated the strong growth in the replacement segment," Apollo Tyres Chairman Onkar Kanwar stated. In Europe, the company saw positive revenue growth in the passenger vehicle segment, which is the largest segment for Apollo in that geography, he added. "Unprecedented increases in raw material prices have impacted our profitability," Kanwar noted. The company said its board approved the raising of funds of up to Rs 1,000 crore by issue of non-convertible debentures, to be allotted in one or more tranches, through private placement. Shares of Apollo Tyres settled 3.19 percent down at Rs 456.35 apiece on the BSE.

2024-11-13 23:08

2024-11-13

23:08

moneycontrol.com

https://www.moneycontrol.com/news/business/companies/amd-to-cut-4-of-global-workforce-as-it-focuses-on-ai-chip-development-12866750.html

AMD to cut 4% of global workforce as it focuses on AI chip development

The logo of semiconductor company Advanced Micro Devices Inc (AMD) is seen on a graphics processing unit (GPU) chip in this illustration.Related stories.

Advanced Micro Devices is laying off 4% of its global workforce, or about 1,000 employees, as it directs efforts towards developing AI chips in a bid to compete against industry bellwether Nvidia. AMD is regarded as the closest rival to Nvidia in the lucrative market for chips that form the brains of complex data centers that can process the large mounds of data used by generative AI technology like OpenAI's ChatGPT. "As a part of aligning our resources with our largest growth opportunities, we are taking a number of targeted steps," an AMD spokesperson told Reuters on Tuesday. Revenue in AMD's data center segment, which houses its AI graphics processors, jumped more than two-fold in the September quarter. On the other hand, the personal computer segment grew 29%, while sales in its gaming unit slumped about 69% during the period. Analysts expect the data center unit to grow 98% in 2024, outpacing expected total revenue growth of 13%, according to an average of estimates compiled by LSEG. The company has been investing heavily to develop AI chips which command high selling prices and are in high demand among so-called hyperscalers like Microsoft. AMD plans to start mass production of a new version of its artificial-intelligence chip called the MI325X in the fourth quarter of the year. Ramping up production of AI chips is an expensive undertaking due to constrained manufacturing capacity. The company's research and development costs jumped close to 9% in the third quarter, while its total cost of sales rose by 11%. Shares of AMD have dropped more than 3% so far this year, as the company struggles to live up to investors' high expectations after Wall Street drove a two-fold surge in its shares last year, betting on the returns linked with AI technology.

2024-11-13 22:57

2024-11-13

22:57

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/block-deal-siddhartha-yog-takes-up-0-38-in-trent-12866714.html

Block deal: Siddhartha Yog takes up 0.38% in Trent

Morgan Stanley IFSC Fund and others engaged in significant bulk deals involving ACME Solar Holdings, PNB Housing Finance..Related stories.

Block deal Siddhartha Yog has picked up 1.3 lakh shares of Trent Ltd. at a price of Rs 6,495 per share. On the other hand, Dodona Holdings Limited sold the same quantity of 1.3 lakh shares at Rs 6,495 per share. Bulk deals Morgan Stanley IFSC Fund sold 31 lakh shares, or 2.98% of ACME Solar Holdings Ltd, at Rs 260.31 a share. Aurum SME Trust I purchased 50,000 shares, or 0.67%, of Ameya Precision Engineering Ltd for Rs 115.31 a share. Craft Emerging Market Fund PCC - Elite Capital Fund sold 50,400 shares, or 0.56% of Dhariwalcorp Ltd, for Rs 134.2 per share. PNB Housing Finance Ltd saw significant activity with multiple deals: Ghisallo Master Fund LP purchased 1.7 lakh shares or 0.69 percent at Rs 939.3 each, while Morgan Stanley Asia (Singapore) Pte. - ODI bought 11.9 lakh shares or 4.61 percent at the same price, Morgan Stanley Asia Singapore Pte acquired 2.2 lakh shares or 0.87 percent, and Societe Generale - ODI purchased 1.7 lakh shares or 0.66 percent, all at Rs 939.3 per share. However, Quality Investment Holdings PCC sold a sizable 24.5 lakh shares, or 9.43 percent, at Rs 939.42 per share. Winny Immigration & Education Services Ltd had two transactions: Minerva Ventures Fund bought 84,000 shares or 3.87 percent at Rs 250 each, while Eriska Investment Fund Ltd sold 91,000 shares or 4.19 percent at Rs 250.29 each. AG Dynamic Funds Limited purchased 170,000 shares or 0.52 percent of Aayush Wellness Ltd at Rs 124.4 per share. Lastly, Walery Security Management Limited bought 1.01 lakh shares of Tuticorin Alkali Chemicals and Fertilizers Ltd at Rs 98.4 per share.

2024-11-13 22:50

2024-11-13

22:50

moneycontrol.com

https://www.moneycontrol.com/news/business/statistics-ministry-to-meet-state-level-officials-to-strengthen-systems-12866717.html

Statistics ministry to meet state-level officials to strengthen systems

State level data focus.Related stories.

The Union statistics ministry will be holding a meeting with state secretaries of planning and statistics on November 14, which shall entail details on launch of new economic census to determine all establishments in the country and preparation of state and district-level accounts. The meeting will also be attended by officials from Niti Aayog, and comes at a time when the Ministry of Statistics and Programme Implementation (MoSPI) has been working on ways to strengthen the statistical system, especially at the state level. “Key topics to be covered include, the revamping of the Support for Statistical Strengthening (SSS) sub-scheme, Conduct of the 8th Economic Census, Compilation of state and sub-state level estimates for National Accounts Statistics (NAS), Consumer Price Index (CPI) and Index of Industrial Production (IIP), Data Innovation Lab, participation of States in the National Sample Surveys & generation of district-level estimates and Implementation of the MPLAD Scheme,” the ministry stated. Saurabh Garg, secretary, MoSPI, had urged states to prepare district-level GDP data in a bid to improve India’s statistical system. The secretary had also claimed that going forward, surveys shall have district-level details present as well. The eighth economic census is to start next year. The government still hasn’t released the results of the seventh census, as they are pending approval from certain states. Theministry moved to the 8th censusto ensure that data was not outdated. The economic census also provides the basis for a national business register, listing all enterprises in the country. The ministry is also in the process of revamping high-frequency statistics like the consumer price index and index of industrial production, along with the GDP. The base year for all the indices is now over a decade-old. Moneycontrol had earlier reported that the new GDP series may be available from February 2026 onwards. The ministry is also planning to increase the frequency of unemployment data to release it monthly for urban areas and quarterly for rural areas.

2024-11-13 22:42

2024-11-13

22:42

moneycontrol.com

https://www.moneycontrol.com/news/world/trump-makes-victors-return-to-washington-to-meet-with-biden-and-gop-lawmakers-12866705.html

Biden greets Trump with handshake, both pledge smooth transition

Biden congratulated Trump on his win.Related stories.

US President Joe Biden on Wednesday greeted president-elect Donald Trump with a handshake in the Oval Office, each pledging a smooth transition from Democrat to Republican. Biden congratulated Trump on his win. Trump said “politics is tough” and not always a nice world “but it is a nice world today”.President Biden: "Congratulations. Looking forward to a smooth transition...Welcome back."President-elect Trump: "Politics is tough and it's in many cases not a nice world, but it is a nice world today. I appreciate it very much."pic.twitter.com/OUQLkb12tCCSPAN (@cspan)November 13, 2024 The president-elect's plane landed at Joint Base Andrews in Maryland on Wednesday morning. President Joe Biden – both Trump's successor and predecessor to the presidency – will welcome him to the White House for an Oval Office visit. It's a traditional part of the peaceful handoff of power – a ritual that Trump himself declined to participate in four years ago. The new Congress will be sworn-in about two weeks before Trump takes office on Inauguration Day on Jan 20, 2025. For Trump, it's a stunning return to the US seat of government after he departed nearly four years ago a diminished, politically defeated leader after the Jan 6, 2021 attack on the Capitol but is preparing to come back to power with what he and his GOP allies see as a mandate for governance. After his election win in 2016, Trump met with President Barack Obama in the Oval Office and called it “a great honour". But he soon was back to heaping insults on Obama, including accusing his predecessor – without evidence – of having wire-tapped him during the 2016 campaign. Four years later, Trump disputed his 2020 election loss to Biden, and he has continued to lie about widespread voter fraud that did not occur. He didn't invite Biden, then the president-elect, to the White House and he left Washington without attending Biden's inauguration. It was the first time that had happened since Andrew Johnson skipped Ulysses S Grant's swearing-in 155 years ago. Biden insists that he'll do everything he can to make the transition to the next Trump administration go smoothly. That's despite having spent more than a year campaigning for reelection and decrying Trump as a threat to democracy and the nation's core values. Biden then bowed out of the race in July and endorsed Vice President Kamala Harris to succeed him. In the wake of the election, the president has abandoned his dire warnings about Trump, saying in a speech last week, “The American experiment endures. We're going to be okay.” White House press secretary Karine Jean-Pierre said Biden is committed to “making sure that this transition is effective, efficient and he's doing that because it is the norm, yes, but also the right thing to do for the American people”. “We want this to go well," Jean-Pierre added. "We want this to be a process that gets the job done." Biden's national security adviser Jake Sullivan echoed that sentiment, saying the administration will uphold the “responsible handoff from one president to the next, which is in the best tradition of our country”. Wednesday's visit is more than just a courtesy call. “They will go through the top issues – both domestic and foreign policy issues – including what is happening in Europe and Asia and the Middle East,” Sullivan told CBS of Wednesday's meeting. “And the president will have the chance to explain to President Trump how he sees things…and talk to President Trump about how President Trump is thinking about taking on these issues when he takes office.” Traditionally, as the outgoing and incoming presidents meet in the West Wing, the first lady hosts her successor upstairs in the residence, But her office said Melania Trump wasn't attending, saying in a statement that “her husband's return to the Oval Office to commence the transition process is encouraging, and she wishes him great success”. After his 2016 meeting with Obama, Trump also visited lawmakers on Capitol Hill and will be doing the same Wednesday – not far from where a mob of his supporters staged a violent January 2021 attack on the US Capitol to try and stop the certification of Biden's election victory.

2024-11-13 22:30

2024-11-13

22:30

moneycontrol.com

https://www.moneycontrol.com/news/india/even-if-indira-gandhi-returns-from-heaven-article-370-will-not-be-restored-amit-shah-12866719.html

Even if Indira Gandhi returns from heaven, Article 370 will not be restored: Amit Shah

Even if Indira Gandhi returns from heaven, Article 370 will not be restored: Amit Shah.Related stories.

Union Home Minister Amit Shah on Wednesday asserted that Article 370, which granted special status to Jammu and Kashmir, will not be restored even if Congress stalwart and late PM Indira Gandhi comes down from heaven. The BJP's star campaigner sought to corner the Congress over Muslim reservation and accused the main opposition party of deliberately stalling construction of a Ram temple at Ayodhya for years. With just a week left for the high-stakes assembly polls in Maharashtra, Shah stepped up his campaigning for the ruling Mahayuti front, of which the BJP is a member, and addressed three rallies in a day where he attacked the Congress and its Maha Vikas Aghadi (MVA) ally Shiv Sena (UBT). Addressing a rally at Dhule in North Maharashtra, Shah said Congress leader Rahul Gandhi should remember that even if his “fourth generation were to come”, Muslims won’t get reservations meant for Dalits, tribals and other backward castes. “A few days ago, Ulemas (Muslim scholars) met the president of Congress party and said Muslims should be given reservation (in jobs and education). If reservation has to be given to Muslims, then reservation for SCs/STs/OBCs will have to be cut. Rahul Baba, not only you but even if your four generations were to come, they cannot cut the quota meant for SCs/STs/OBCs and give it to Muslims,” Shah insisted. The Union minister made it clear that Article 370, scrapped in 2019 by the BJP-led central government, won’t be restored under any circumstances. “Even if Indira Gandhi were to return from heaven, Article 370 won’t be restored,” the BJP stalwart told the gathering. Describing the opposition MVA grouping as an "Aurangzeb Fan Club", Shah noted the BJP-led Mahayuti alliance abides by the ideals of Maratha warrior king Chhatrapati Shivaji Maharaj and freedom fighter Veer Savarkar. At another election meeting in Jalgaon, also in North Maharashtra, the former BJP president averred that if the MVA wins the November 20 assembly polls, the state will turn into an ATM (automated teller machine) for the Congress. “They (MVA) will withdraw funds from Maharashtra by using the state's resources and send the money to Delhi. In contrast, if the BJP-led Mahayuti forms a government, the Modi administration will ensure greater development for Maharashtra,” Shah said at the meeting in Chalisgaon town. Targeting Gandhi, the Lok Sabha MP from Raebareli, he accused his party of making false promises and misleading people. “Recently, Rahul Gandhi was seen waving a copy of Babasaheb Ambedkar’s Constitution. He used the same copy while taking the oath in Parliament. When some journalists got their hands on the very copy, it had blank pages. By showing a fake Constitution, Rahul broke the trust of people and insulted Babasaheb. Apparently, you have never read the Constitution, Rahul baba,” Shah said. The “Sonia-Manmohan regime” didn’t act against Naxalism and terrorism for 10 years (2004-14) due to vote bank politics, the home minister opined. “The entire Congress politics runs on deception. They are saying that after the formation of the Mahayuti government (in June 2022), investment in Maharashtra has reduced. The truth is after the formation of the government of (CM) Eknath Shinde and (deputy CM) Devendra Fadnavis, our Maharashtra is No.1 state in FDI inflows in India,” he said. A Mahayuti government post-polls will work more for the welfare of women, farmers and other sections of society, Shah maintained. “Your one vote will not only form a Mahayuti government but your one vote will also deposit Rs 2,100 in the account of Maharashtra's beloved sisters. Your one vote will result in depositing Rs 15,000 instead of Rs 12,000 annually in farmers' account," he said. The BJP leader said Prime Minister Narendra Modi's guarantee is like 'patthar ki lakeer' (carved in stone), whereas the Congress reneged on pre-poll promises in Telangana, Karnataka and Himachal Pradesh after coming to power in these states. Targeting NCP (SP) president Sharad Pawar, Shah said the senior politician served as Maharashtra CM and also as a Union minister for many years, but did not do anything to give classical language status to Marathi. At his third rally at Jintur in Parbhani district in the Marathwada region, Shah averred that Congress MP Gandhi, who has been campaigning for the MVA in Maharashtra, will fail once again. “Sonia ji tried to land the plane named Rahul Baba 20 times and 20 times the plane crashed. Now again, an attempt is being made to land the plane for the 21st time in Maharashtra. Sonia ji, your “Rahul plane” is going to crash for the 21st time,” the BJP leader opined. Shah accused the Congress of deliberately stalling construction of a Ram temple at Ayodhya for years. “PM Modi built the Ram temple and also constructed the Kashi Vishwanath corridor (in Varanasi) which was demolished by (Mughal emperor) Aurangzeb. Now, you should be ready to visit Gujarat as the Somnath temple is also being made of gold,” he told the gathering. Modi has made the country safe and prosperous, Shah said. “I have visited all the places like Vidarbha, North Maharashtra, West Maharashtra, Konkan, Mumbai, Marathwada. Do you want to know the result of assembly polls? Listen to me, on November 23 (result day), the Maha Vikas Aghadi is going to be wiped out from Maharashtra,” he declared. Shah said Shiv Sena (UBT) chief Uddhav Thackeray, a former BJP ally, is now in alliance with those who opposed renaming Aurangabad as Chhatrapati Sambhajinagar.

2024-11-13 22:25

2024-11-13

22:25

moneycontrol.com

https://www.moneycontrol.com/news/india/ahmedabad-road-rage-constable-arrested-for-murder-of-mica-student-after-police-release-sketch-12866727.html

Ahmedabad road rage: Constable arrested for murder of MICA student after police release sketch

A team of Ahmedabad city crime branch nabbed Padheriya from Punjab where he had fled after the murder.

A Gujarat police constable has been arrested for allegedly murdering a 23-year-old MBA student after an argument over rash driving in Ahmedabad, police said Wednesday. “One Virendrasinh Padheriya, a constable with Sarkhej police station in Ahmedabad, has been arrested from Punjab in connection with the murder of the MICA student,” Superintendent of Police (Rural) Om Prakash Jat said. A team of Ahmedabad city crime branch nabbed Padheriya from Punjab where he had fled after the murder. He is being brought back and the team will reach Ahmedabad on Thursday, Jat said. Priyanshu Jain, a second-year MBA student at Mudra Institute of Communications, Ahmedabad (MICA) who hailed from Meerut in Uttar Pradesh, was stabbed to death in a road rage case on Sunday night. He was on his way to the hostel of the residential institute with his friend after buying a cake from a pastry shop in the city’s Bopal area around 10.30 pm when they had a heated exchange with the driver of a speeding four-wheeler over dangerous driving. The car driver turned around and followed the students for about 200 metres before taking out a knife from his vehicle and stabbing Jain. The student was rushed to a hospital where he succumbed to his injuries. The Ahmedabad rural police had on Tuesday released a sketch of the suspect and assured anonymity to whoever helping in identifying the alleged killer. The alleged attacker was booked for murder under section 103(1) of the Bharatiya Nyaya Sanhita (BNS) and under section 135 of the Gujarat Police Act for contravention of orders.

2024-11-13 22:17

2024-11-13

22:17

moneycontrol.com

https://www.moneycontrol.com/news/india/bjp-offered-rs-50-crore-each-to-50-congress-mlas-to-remove-karnataka-govt-cm-siddaramaiah-12866701.html

BJP offered Rs 50 crore each to 50 Congress MLAs to remove Karnataka govt: CM Siddaramaiah

Karnataka Chief Minister Siddaramaiah.

Karnataka Chief Minister Siddaramaiah on Wednesday alleged that the opposition BJP offered Rs 50 crore each to 50 Congress MLAs to remove his government. He said none of the Congress MLAs agreed with it, due to which the BJP is now resorting to filing false cases against him.”To overthrow the Siddaramaiah government somehow, they (BJP) offered Rs 50 crore to 50 MLAs. Where did they get so much money from? Did former Chief Ministers B S Yediyurappa, Basavaraj Bommai, Leader of the Opposition R Ashoka, BJP state president B Y Vijayendra print the money?” Siddaramaiah asked after inaugurating public works worth Rs 470 crore in the T Narasipura assembly constituency in Mysuru district.He said it was all ”bribe money”.”They have made crores of rupees. Using the money, they offered Rs 50 crore to each MLA,” the chief minister alleged.”But none of our MLAs agreed for it this time. That’s why they have started a campaign to remove this government somehow. That’s why they are doing it (filing false cases),” Siddaramaiah said.The Congress has 133 MLAs in the 224-member Karnataka Assembly, whereas the BJP and its ally JD(S) have 65 and 18 MLAs respectively.Siddaramaiah accused the BJP of threatening the chief ministers of all the non-BJP ruled states through Income Tax, CBI, ED.Referring to the MUDA site allotment scam in which the Lokayukta had registered a case against him, his wife Parvathi B M and brother-in-law Mallikarjuna Swamy, Siddaramaiah said it was ”100 per cent false”.He said he is not the one who came into politics recently but has been into it for the past several decades and became a minister for the first time 40 years ago. He further said he was twice the leader of the opposition, twice the deputy chief minister and twice the chief minister and there were no stains on him.”Today they (BJP) have filed a false case saying that Siddaramaiah and his wife have taken 14 sites. Do Siddaramaiah require politics for 14 sites? They (opposition) think people are fool. So long as I have the blessings of people, I will not yield or get cowed,” he said.He said the opposition BJP and its ally JD(S) made baseless allegations, framed false cases and misused their powers by using the ED and the Governor.”They tried this (misusing agencies) on many people. They did it on Soren (Jharkhand CM Hemant Soren), Delhi CM Arvind Kejriwal and now they are trying on me,” the chief minister said.According to him, the BJP was coming up with false cases because the five guarantees introduced by him were for the benefit of poor.Siddaramaiah alleged that the BJP came to power twice –in 2008 and 2019 through the backdoor, as they did not have the people’s mandate. He recalled that the BJP got 110 seats in the 224-member Karnataka assembly in 2008 and 104 seats in 2019.The chief minister claimed that the BJP paid Rs 30 crore to buy 17 MLAs – three from the JD(S) and 14 from the Congress to come to power in 2019.”They gave Rs 30 crore to each MLA. Where did they get so much money? Isn’t it corruption money? On the other hand, Congress got 120 seats in 2013 and 136 seats in 2023,” Siddaramaiah said.

2024-11-13 22:03

2024-11-13

22:03

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/nse-to-introduce-futures-and-options-contracts-on-45-stocks-from-november-29-heres-the-full-list-12866700.html

NSE to introduce futures and options contracts on 45 stocks from November 29, here's the full list

NSE.

The NSE said on November 13 that futures and options contracts on 45 stocks will be available for trading, with effect from November 29. This will include companies such as Life Insurance Corporation, Jio Financial Services, Adani Energy Solutions, Adani Green Energy, Nykaa, Paytm, YES Bank and Zomato, among others. "Members are advised to note that based on the stock selection criteria as prescribed by SEBI vide circular no. SEBI/HO/MRD/MRD-PoD-2/P/CIR/2024/116 dated August 30, 2024 and approval received from SEBI, members are hereby notified that the futures and options contracts on following 45 additional securities would be available for trading," the NSE said in a circular. Here is the full list of the 45 companies that will have futures and options contracts: Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

2024-11-13 21:45

2024-11-13

21:45

moneycontrol.com

https://www.moneycontrol.com/news/india/haryana-shiv-sena-leader-claims-he-received-threat-call-from-lawrence-bishnoi-gang-12866699.html

Haryana: Shiv Sena leader claims he received threat call from Lawrence Bishnoi gang

Lawrence Bishnoi.

Shiv Sena’s Haryana in-charge Vikram Singh has filed an online complaint with cyber police that he received a threatening call from a person who claimed to be from the Lawrence Bishnoi gang. He claims that the caller, who identified himself as Rohit Godara, demanded a share in his business, the police said. A senior police officer said that they are investigating the matter. According to the complaint filed by Vikram Singh, he received a WhatsApp call from a UK number on November 11 at around 3 pm in which the caller said that he was a member of gangster Lawrence Bishnoi gang and asked him for a share in his business. ”They gave one day’s time and threatened that if I don’t give a share in my business, they will kill me,” Yadav said in his complaint. When contacted, Singh said that if anything untoward happens to his family or him, the BJP government will be responsible for it.

2024-11-13 21:33

2024-11-13

21:33

moneycontrol.com

https://www.moneycontrol.com/news/business/stocks/buy-hindalco-target-of-rs-780-motilal-oswal-12866465.html

Buy Hindalco; target of Rs 780: Motilal Oswal

Buy.Related stories.

Motilal Oswal's research report onHindalco HNDL’s consolidated net sales stood at INR582b (+7 YoY/+2% QoQ) in 2QFY25 vs. our est. of INR569b, aided by better realizations and efficiencies in India operations. Consolidated EBITDA stood at INR79b (+40% YoY/+5% QoQ) vs. our est. of INR66b, driven by lower costs. APAT stood at INR43b (+97% YoY/+25% QoQ) vs. our est. of INR31b. HNDL reported one-time exceptional expenses of INR5.1b related to flooding at the Sierre plant. For 1HFY25, revenue stood at INR1,152b (+8% YoY), EBITDA came in at INR154b (+36% YoY), and APAT was INR77b (+66% YoY). For 2HFY25, we expect revenues, EBITDA and APAT to grow by 8%, 18% and 34% YoY, respectively. The net debt-to-EBITDA ratio stood at 1.19x in 2QFY25 vs. 1.24x in 1QFY25. Outlook We maintained our FY26/FY27 estimates, while we raised our EBITDA/APAT estimates by 6%/9% for FY25. At CMP, the stock trades at 5.5x EV/EBITDA and 1.1x P/B on FY27E. We reiterate our BUY rating on HNDL with a revised SoTPbased TP of INR780. For all recommendations report,click here Hindalco - 13112024 - moti

2024-11-13 21:31

2024-11-13

21:31

moneycontrol.com

https://www.moneycontrol.com/news/business/stocks/buy-hyundai-motor-target-of-rs-2235-motilal-oswal-12866466.html

Buy Hyundai Motor; target of Rs 2235: Motilal Oswal

Buy.Related stories.

Motilal Oswal's research report onHyundai Motor Hyundai Motor (HMI)’s 2QFY25 performance was hit by ~9% YoY volume decline and higher discounts, leading to a 30bp YoY/70bp QoQ EBITDA margin contraction to 12.8%. While the PV industry’s demand remains moderate, we expect HMI to post steady growth given its favorable SUV mix and strong export opportunities going forward. Outlook We broadly retain our FY25E/26E EPS. We assign a slightly higher multiple to HMI at 27x Sep’26E EPS, compared to MSIL’s 26x, given its strong parent support for new technology, superior financial metrics, a relatively premium brand perception, and better alignment with industry trends. We reiterate our BUY rating with a revised TP of INR2,235. For all recommendations report,click here Hyundai Motor - 13112024 - moti

2024-11-13 21:21

2024-11-13

21:21

moneycontrol.com

https://www.moneycontrol.com/news/business/stocks/buy-triveni-turbine-target-of-rs-830-motilal-oswal-12866468.html

Buy Triveni Turbine; target of Rs 830: Motilal Oswal

Buy.Related stories.

Motilal Oswal's research report onTriveni Turbine Triveni Turbine (TRIV)’s 2QFY25 results exceeded our expectations on both the revenue and profitability front. The company reported a revenue/EBITDA/PAT growth of 29%/50%/41% YoY in 2QFY25. Domestic order inflows grew 4% YoY, as inquiry generation in the preceding two quarters was impacted by elections. Export ordering growth continued to be robust at 50% YoY. Domestic order inflow pipeline will see an uptick in ensuing quarters with healthy inquiries from distilleries, municipal solid waste, cement, steel, process co-generation, chemicals, petchem, etc. Outlook We maintain our revenue estimates while increasing our margin estimates for FY25, based on 1HFY25 performance and order book mix. We reiterate our BUY rating with an unchanged TP of INR830, based on 48x two-year forward earnings. For all recommendations report,click here Triveni Turbine - 13112024 - moti

2024-11-13 21:18

2024-11-13

21:18

moneycontrol.com

https://www.moneycontrol.com/news/india/empowerment-of-villages-and-panchayats-will-boost-indias-progress-murmu-12866686.html

Empowerment of villages and panchayats will boost India's progress: Murmu

Empowerment of villages and panchayats will boost India's progress: Murmu.Related stories.

President Droupadi Murmu on Wednesday said India will progress once its villages and panchayats are empowered as nearly 70 to 80 per cent of the people live in rural parts of the country. She was addressing a gathering in Silvassa town of the Union Territory of Dadra and Nagar Haveli, and Daman and Diu after inaugurating a government school at Zanda Chowk and phase-II of development of space beneath Yatri Niwas flyover here. "As per our Constitution's preamble, our nation's aim is to provide social, economic and political justice to citizens. I was told that the administration of this Union Territory is taking various steps for the uplift of this region's people and results of those efforts are now visible," she said. Murmu said the participation of village panchayats helps in ensuring better governance. "India is a country of villages because nearly 70 to 80 per cent people live in villages. Thus, our country will progress and become stronger if villages and panchayats become stronger," the president said, adding she will visit a 'panchayat ghar' after the event. Murmu is on a two-day visit to the Union Territory from Tuesday. On the first day of her visit, she visited a recently-inaugurated aviary and a government engineering college and the National Institute of Fashion Technology (NIFT) campus in Daman. On Wednesday, she began her visit by visiting the NAMO Medical Education & Research Institute in Silvassa town and interacted with students and faculty. "The energy with which the youth is marching forward, I am sure that it will help us in building Viksit Bharat (developed India)," Murmu said in her address. Referring to different tourist spots she visited in neighbouring Daman district on Tuesday, including the aviary and a walkway along the seashore, Murmu said the region has become a "sought after tourist destination". "This region became a sought after tourist destination among people due to its natural, historical and cultural heritage. Tourism creates new employment opportunities and more and more people become aware about our country's beauty and heritage," she said. "Moreover, whenever we interact with the people of other regions, we become more sensitive and broad-minded," she added. Murmu expressed happiness about various developmental works undertaken by the administration in recent times, such as starting the NAMO Medical college, increasing beds in the hospital attached with it, an Industrial Training Institute (ITI) in Khanvel and providing assistance to women to start dairy farming. Noting that Janjatiya Gaurav Divas is celebrated on November 15 to honour the contributions of tribal freedom fighters, she said, "The central government is undertaking several works in the country for the development of tribals." "I am told that the administration of this Union Territory has also taken many steps for the development of tribals living in this region," she added. In the evening, Murmu will visit INS Khukri Memorial at Chakratirth beach in Diu to lay a wreath and then visit Diu fort, an official release said.

2024-11-13 20:48

2024-11-13

20:48

moneycontrol.com

https://www.moneycontrol.com/news/world/cop29-global-carbon-emissions-to-scale-new-peak-in-2024-no-signs-of-pledged-transition-12866681.html

COP29: Global carbon emissions to scale new peak in 2024, no signs of pledged transition

COP29 stands of the 29th Conference of Parties, where the parties are nations that have members of the United Nations Framework Convention on Climate Change..Related stories.

Emissions from burning fossil fuels are projected to post a new record in 2024, with an anticipated peak not yet in sight, an international team of scientists said in their latest annual report. Fossil carbon dioxide emissions are projected to reach 37.4 billion tonnes, up 0.8 percent from 2023, the 2024 Global CarbonBudgetreleased on November 13 reported. With projected emissions from land-use change, such as deforestation, of 4.2 billion tonnes, total CO2 emissions are projected to be 41.6 billion tonnes in 2024, up from 40.6 billion tonnes last year, the global team of over 120 scientists said. Despite the urgent need to cut emissions to slow down the climate crisis, the researchers said there was still no sign that the world has reached a peak in fossil CO2 emissions. However, over the past 10 years, fossil fuel emissions have risen but land-use change emissions have declined on an average, leaving overall emissions roughly level over that period. This year though, both fossil and land-use change CO2 emissions are set to rise, with droughts across the world worsening emissions from deforestation and forest degradation fires during the El Niño climate event of 2023-24. "The impacts of climate change are becoming increasingly dramatic, yet we still see no sign that burning of fossil fuels has peaked," Pierre Friedlingstein of Exeter's Global Systems Institute, who led the study, said in a statement. With over 40 billion tonnes released each year, the level of CO2 in the atmosphere continues to rise, driving increasingly dangerous global warming. "World leaders meeting at COP29 must bring about rapid and deep cuts to fossil fuel emissions to give us a chance of staying well below 2°C warming above preindustrial levels," Friedlingstein said. COP29 stands of the 29th Conference of Parties, where the parties are nations that have members of the United Nations Framework Convention on Climate Change. The annual summit is being held in Azerbaijan's Baku from November 11-22. "In terms of emissions peaking, we do not see that happening yet," said Mike Sullivan, a climate scientist at the University of Exeter. "We really need large decreases and we need to go towards net zero to avoid dangerous climate change," his colleague Stephen Sitch said. Net zero refers to the balance between the amount of greenhouse gas produced and the amount removed from the atmosphere, which can be achieved through a combination of reducing and removing emissions. Globally, fossil fuel CO₂ emissions come from coal (41 percent), oil (32 percent) and gas (21 percent). China contributed 32 percent of the total emissions, followed by the US (13 percent), India (8 percent) and the European Union (7 percent). Accelerating rates of global warming increases the risks of more extreme weather events that put millions of people at risk and threaten economic growth. Every 1°C rise in global average atmospheric temperature would equate to a 12 percent hit to the world’s gross domestic product, according to a recent assessment by the National Bureau of Economic Research, a New York-based non-profit. At the current rate of emissions, the Global Carbon Budget team estimated a 50 percent chance that global warming will exceed 1.5°C consistently in about six years. Global temperatures were already 1.48°C above the preindustrial level in 2023, and it is virtually certain it would be more than 1.5°C in 2024, Copernicus Climate Change Service, an European research organisation, said earlier in November. A downward trend in global CO2 emissions is required to meet net zero targets and minimise the impacts of climate change. Climate negotiators have gathered in Baku to thrash out a consensus on ensuring finance to mitigate and adapt to the climate emergency.

2024-11-13 20:44

2024-11-13

20:44

moneycontrol.com

https://www.moneycontrol.com/news/business/stocks/buy-siemens-target-of-rs-8400-motilal-oswal-12866469.html

Buy Siemens; target of Rs 8400: Motilal Oswal

Buy.

Motilal Oswal's research report onSiemens We attended Siemens Innovation Day, where the company highlighted its key products and solutions that it has established for its customers. SIEM has participated in the journey of energy efficiency of various user industries, and it continues to focus on high growth areas, such as renewables, data centers, EVs, semiconductors, and other private capex-focused industries, to become more efficient. The opportunity pipeline remains strong from the above industries, and SIEM is ideally positioned to capture it with its key products, such as Xcelerator, industrial metaverse, and digital twins. Outlook We maintain our estimates and reiterate our BUY rating with a TP of INR8,400. For all recommendations report,click here Siemens - 13112024 - moti

2024-11-13 20:42

2024-11-13

20:42

moneycontrol.com

https://www.moneycontrol.com/news/india/border-officer-wanted-in-india-for-terrorism-charges-gets-clean-chit-in-canada-report-12866636.html

Border officer wanted in India for terrorism charges gets clean chit in Canada: Report

As per India's National Investigation Agency (NIA), the officer, Sidhu, is also a member of the banned International Sikh Youth Federation (Image: Reuters).

The Canada Border Services Agency (CBSA) has cleared one of its officers who had been charged with terrorism in India, according to Canadian Broadcasting Corporation (CBC). The agency has now reinstated Sandeep ‘Sunny’ Singh Sidhu, who has been linked to the assassination of Shaurya Chakra awardee Balwinder Singh Sandhu in Punjab. Sidhu was given a clean chit after a probe by the Canadian Security Intelligence Service (CSIS). The development comes amid a strain in ties between the two countries, which began following Canadian Prime Minister Justin Trudeau’s allegations in September last year of a "potential" involvement of Indian agents in the killing of Khalistan extremist Hardeep Singh Nijjar. New Delhi rejected Trudeau's charges as "absurd". As per India's National Investigation Agency (NIA), the officer, Sidhu, is also a member of the banned International Sikh Youth Federation (ISYF) and is linked to Khalistani terror networks as well as Pakistan's spy agency, the Inter-Services Intelligence (ISI). The officer, Sandeep Singh Sidhu, who is also known by the alias "Sunny Toronto", was added to New Delhi’s list of fugitives, with the Indian government seeking his deportation in October. Sidhu, in conversation with CBC, said that the agency had brought in the CSIS to conduct two days of polygraph tests on him. "I have been through a year-long investigation where they've talked to my family, they've talked to my coworkers, they've gone through my financial statements, they've gone through my bank statements, my telephone records," Sidhu told CBC. India has been maintaining that the main issue between the two countries is that of Canada giving space to pro-Khalistan elements operating from Canadian soil with impunity. A few days back, Khalistani supporters disrupted a consular event co-organised by the Hindu Sabha temple in Brampton and the Indian Consulate. The incident was condemned by Trudeau who said every Canadian has the right to practise their faith freely and safely. In a statement, the Ministry of External Affairs said that New Delhi remains "deeply concerned" about the safety and security of Indian nationals in Canada.

2024-11-13 20:38

2024-11-13

20:38

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/sebi-proposes-making-registered-intermediaries-miis-responsible-for-output-of-ai-tools-12866666.html

SEBI proposes making registered intermediaries, MIIs responsible for output of AI tools

The capital-markets regulator has already mandated reporting requirements on the usage of AI/ML systems..Related stories.

The market regulator has proposed that every SEBI regulated entity that uses artificial intelligence/machine learning (AI/ML) tools, either designed by the entity or procured from third parties, be made responsible for the output from the usage of these tools and the privacy of investors' data. In a consultation paper released on November 13, the Securities and Exchange Board of India (SEBI) has said, "The use of AI/ML systems/tools are on the rise including in the financial markets to enable stakeholders to make informed decisions and thus may play an increasingly significant role in market analysis, stock selection, investment strategies and in building a portfolio in their invested securities." The paper stated that, while this may increase efficiency and accuracy, and help with better risk management and provide other benefits, "it is equally important to ensure the protection of investors with the usage of such tools". Therefore, the regulator has already mandated reporting requirements on the usage of AI/ML systems. Now it is proposing to assign responsibility on the intermediaries, MIIs and regulated persons. Also read:MC Exclusive: Fake investment bankers making a killing amid SME sector’s IPO boom The paper elaborated on the meaning of artificial intelligence, as generally understood, as focussing on " executable programmes in machines and computers that can learn, reason and act in ways that would normally require human intelligence. AI techniques are designed to learn from analysing data sets and perform on the basis of minimal or without any human assistance". It added, "AI uses ‘Machine Learning’ techniques including natural language processing (voice to text, text to systems, robo chat bots, etc), neural networks, statistical heuristics, feedback mechanism, etc, including a combination thereof to analyse large amounts of data, learning from such data and performing tasks without explicit instructions." The proposed amendment will describe artificial intelligence as such: "the expression “artificial intelligence tools” may include any application or software programme or executable system or a combination thereof, offered by a recognized stock exchange or a recognized clearing corporation to investors/stakeholders or used internally by it to facilitate trading and settlement, carry out its activities including compliance requirements and the same is portrayed as part of the public product offering or under usage for compliance or management or other business purposes." The proposed amendments are for the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018, the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 and the Securities and Exchange Board of India (Intermediaries) Regulations, 2008, with respect to assigning responsibility for the use of artificial intelligence (“AI”) tools by Market Infrastructure Institutions, Registered Intermediaries and other persons regulated by SEBI. Public comments and suggestions need to be sent in by November 28.

2024-11-13 20:37

2024-11-13

20:37

moneycontrol.com

https://www.moneycontrol.com/news/india/jaishankars-razor-sharp-reply-silences-australian-journalist-over-angst-on-indo-russia-ties-12866671.html

Jaishankar’s razor-sharp reply silences Australian journalist over ‘angst’ on Indo-Russia ties

EAM Jaishankar.

In a recent interview with an Australian news channel, External Affairs Minister S Jaishankar addressed India’s stance on its relationship with Russia. Responding to whether India recognizes the “angst” this relationship causes Australia, Jaishankar told to Sky News Australia’s Sharri Markson: “I don’t think we have given cause for any angst. In today’s world, countries don’t have exclusive relationships.” The minister then drew a Pakistan parallel: "If I were to use that logic, I would say so many countries have relationship with Pakistan. Look at the angst it should cause me." The minister went on to explain that India’s close ties with Russia are actually beneficial for the international community. “Our relationship with Russia allows us to be an intermediary with the ability to communicate with both Russia and Ukraine, and to seek some common ground. I believe the world, including Australia, needs a country like that to help bring this conflict back to the negotiation table.” Australia, which supports Ukraine and has supplied weapons to Kyiv, has stood firmly against Russia since the conflict began in 2022. At the time, former Australian Prime Minister Scott Morrison had urged the world to treat Russia as a “pariah state.” When Western nations imposed sanctions on Russia, India chose to continue purchasing Russian oil to meet its energy needs, a decision that drew criticism. Jaishankar, dismissed the West’s concerns, urging Europe to “grow out of the mindset that Europe’s problems are the world’s problems, but the world’s problems are not Europe’s problems.” He emphasized India’s right to prioritize its energy security and, at a later event, noted that Russia has never acted against India’s interests. peaking to Sky News, Jaishankar highlighted the importance of India-Australia relations and said, “The relationship with Australia has so much value because today we have that trust, we have that sensitivity, we are developing that experience of working together." “So there are a lot of things, you know, I’d be comfortable getting out of Australia or doing with Australia, which I may not be with some other countries," he said.

2024-11-13 20:36

2024-11-13

20:36

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/fiis-net-sell-rs-2503-crore-in-shares-diis-net-buy-rs-6145-crore-12866660.html

FIIs net sell Rs 2,503 crore in shares, DIIs net buy Rs 6,145 crore

In the year so far, FIIs have net sold shares worth Rs 2.81 lakh crore, while DIIs have bought Rs 5.49 lakh crore shares..Related stories.

On November 13, domestic institutional investors (DII) net bought shares worth Rs 6,145crore. On the other hand, foreign institutional investors (FIIs) net sold shares worth Rs 2,503 crore, provisional data from NSE showed. DIIs bought Rs 14,095 crore and sold shares worth Rs 7,950 crore. Meanwhile, FIIs purchased Rs 15,178 crore in shares and offloaded equities worth Rs 17,681 crore during the trading session. In the year so far, FIIs have net sold shares worth Rs 2.81 lakh crore, while DIIs have bought Rs 5.49 lakh crore in shares. Also read:Taking Stock: Bloodbath on the Street as Nifty falls 10% from its peak Market view The Sensex and Nifty marked their fifth consecutive day of losses on November 13. At close, the Sensex had shed 984 points, or 1.3 percent, settling at 77,690, while the Nifty declined 324 points, or 1.4 percent, to 23,559. Among the Nifty 50's biggest losers were Tata Steel, Eicher Motors, M&M, Hindalco, and Hero MotoCorp, each down 3-4 percent. Meanwhile, Britannia, Tata Motors, NTPC, HUL, and Asian Paints were the top gainers. All 13 major sectoral indices closed in the red. On today’s market, Deepak Jasani, Head of Retail Research at HDFC Securities noted that Nifty has officially entering correction territory with a 10% drop from its recent high. Increased cash market volumes on the “NSE suggest that local investors are engaging in bottom-fishing activities. However, the broad market indices have declined even more sharply than the Nifty, indicating a challenging advance-decline ratio,” he said.

2024-11-13 20:36

2024-11-13

20:36

moneycontrol.com

https://www.moneycontrol.com/news/business/ipo/niva-bupa-likely-to-see-modest-dalal-street-debut-on-november-14-12866664.html

Niva Bupa likely to see modest Dalal Street debut on November 14

Niva Bupa intends to utilise the net proceeds from the fresh issuance towards boosting its capital base to strengthen solvency levels, and a portion will be used for general corporate purposes..Related stories.

Investors who received share allocations in Niva Bupa Health Insurance Company Ltd. may see muted listing gains as the company’s stock is set to debut on exchanges on November 14. Analysts predict a subdued opening for the stock, citing weakened investor appetite for newly listed companies amidst prevailing market volatility and a tepid GMP in the unofficial market. The initial public offer (IPO) ofNiva Bupa, formerly known as Max Bupa Health Insurance Company, was subscribed 1.80 times at its close on Monday. The issue was priced in the band of Rs 70-74 per share. Prathamesh Masdekar, Research Analyst at StoxBox, expects the stock to open near the upper end of the price band with stable performance prospects. "Niva Bupa is a prominent player in the health insurance sector, with innovative expansion plans and a technology-led, automated approach that supports profitability potential. We recommend that investors allotted shares hold them with a medium to long-term view," Masdekar said. Niva Bupa IPO subscribed 1.8 times by Day 3, retail investors show strong interest As one of India's leading health insurers, Niva Bupa provides a range of products and services aimed at easing customers’ healthcare journeys by integrating a comprehensive health ecosystem. Narendra Solanki, an analyst at Anand Rathi, noted that the company’s valuation at the upper price band reflects a price-to-book value (P/BV) ratio of 6.1x, resulting in a market capitalisation of Rs 1,35,200 million post-issue. “The IPO appears fully priced, and we assign a ‘Subscribe – Long Term’ rating to the offering,” Solanki added. According to platforms that track the grey market premium activities, the shares of the company are commanding a near flat GMP in the unofficial market. The Rs 2,200-crore IPO comprises a fresh equity issue of Rs 800 crore and an offer-for-sale component of Rs 1,400 crore by promoters. The company downsized the issue from its original target of Rs 3,000 crore. Proceeds from the fresh issuance will primarily strengthen Niva Bupa’s capital base to improve solvency levels, with a portion allocated for general corporate purposes. This IPO makes Niva Bupa the second standalone health insurer to go public after Star Health & Allied Insurance Company.

2024-11-13 20:32

2024-11-13

20:32

moneycontrol.com

https://www.moneycontrol.com/news/business/stocks/buy-ongc-target-of-rs-330-motilal-oswal-12866471.html

Buy ONGC; target of Rs 330: Motilal Oswal

Buy.Related stories.

Motilal Oswal's research report onONGC ONGC’s reported EBITDA stood at INR182b (flat YoY) in 2QFY25, in line with our estimate. PAT was 30% above our estimate, mainly aided by higher other income. In the conference call, the management highlighted that gas from new wells from nominated blocks will be priced at 12% slope to the Indian crude basket price. The management also expressed confidence that ONGC Petro-Additions Limited (OPaL) will see a turnaround in FY26 amid lower interest costs and lower-priced feedstock gas. While gas from KG 98/2 asset is set to ramp up by FY25 end, the management has reduced overall production volume guidance (standalone + JV) for FY26/FY27 to 44.9/46.2mmtoe (from 46.5/49mmtoe for FY26/FY27). Outlook We value the standalone business at 8x Dec’26E adj. EPS of INR30 and add the value of investments to arrive at a TP of INR330, implying 29% potential upside. We reiterate our BUY rating on the stock. For all recommendations report,click here ONGC - 13112024 - moti

2024-11-13 20:32

2024-11-13

20:32

moneycontrol.com

https://www.moneycontrol.com/news/business/cryptocurrency/bitcoin-surges-above-90000-for-the-first-time-as-rally-resumes-on-trump-optimism-12866672.html

Bitcoin surges above $90,000 for the first time as rally resumes on Trump optimism

Bitcoin briefly exceeded $90,000 on some trading venues on Tuesday, such as Coinbase Global Inc.’s platform.Related stories.

A surge in Bitcoin that paused earlier Wednesday is regaining steam, sending the original cryptocurrency above $90,000 for the first time, as traders assess the remaining market impact of President-elect Donald Trump’s rhetorical support for crypto. The digital asset is up more than 30% in the wake of Trump’s Nov. 5 election victory, reaching a record of $91,085 at 9:33 a.m. in New York with a more-than 3% gain for the day. Trump has pledged to create a friendly regulatory framework for crypto, set up a strategic Bitcoin stockpile and make the US the global hub for the industry. A onetime crypto skeptic, Trump reversed course after digital-asset companies spent heavily during election campaigning to promote their interests. His stance spread optimism across crypto, lifting the value of the market to an all-time peak. But thorny questions remain about whether Trump and his Republican lawmakers will be focused first on larger matters like China policy and the US economy, pushing digital-asset legislation down the pecking order. “While we wouldn’t rule out further gains, a heck of a lot of good news is now priced in,” IG Australia Pty Market Analyst Tony Sycamore wrote in a note. DogecoinOne of the strongest performers recently in crypto is Dogecoin, a token promoted by billionaire Elon Musk and a meme-crowd favorite. The Shiba Inu-themed coin, also known as DOGE, rose 80% or so in the past five days. Before the election, Musk suggested he could lead a Department of Government Efficiency, whose initials are an apparent nod to the cryptocurrency. Trump on Tuesday announced the creation of the department to cut wasteful spending, saying Musk would be its co-head. Dogecoin briefly jumped after the statement before following Bitcoin lower. Higher YieldsTreasury yields and the dollar are climbing, an indication that investors expect inflationary pressures from Trump’s plan to impose trade tariffs and cut taxes. Stocks dipped against that backdrop given that comparatively higher borrowing costs are a potential hurdle for riskier investments, including crypto. “Relatively muted” leverage in the crypto market “mitigates the risk of a sharp correction,” according to Noelle Acheson, author of the Crypto Is Macro Now newsletter. “A market breather would be welcome, but it is likely to be short. The tailwinds are still strong.” Bitcoin briefly exceeded $90,000 on some trading venues on Tuesday, such as Coinbase Global Inc.’s platform. Bullish options bets are concentrated on the largest token reaching $100,000, based on data from Deribit. Inflows into US Bitcoin exchange-traded funds topped $1 billion at the start of the week.

2024-11-13 20:28

2024-11-13

20:28

moneycontrol.com

https://www.moneycontrol.com/news/world/bangladesh-leader-muhammad-yunus-slams-rich-nations-for-burning-up-the-planet-at-un-climate-talks-12866667.html

Bangladesh leader Muhammad Yunus slams rich nations for burning up the planet at UN climate talks

Bangladesh's interim leader Muhammad Yunus (Courtesy: Reuters photo).Related stories.

Bangladesh's interim leader Muhammad Yunus said Wednesday that world leaders shouldn't be negotiating at United Nations climate talks this year, and countries responsible for warming up the planet should instead just simply provide the funds to deal with the climate crisis. “Why should there be a negotiation? You are causing the problem, then you solve it,” he told The Associated Press in an interview in Baku, Azerbaijan. “We will raise our voice and tell them it’s your fault, like what we did with colonialism.” Yunus was chosen to head Bangladesh’s interim government after the nation’s longtime prime minister Sheikh Hasina resigned and fled abroad. Her resignation followed intense political turmoil earlier this year, with weeks of protests and clashes with security forces that killed nearly 300 people. Known as the “banker to the poorest of the poor,” Yunus was a longtime critic of Hasina. Yunus said the climate negotiations, known as COP29, can be “humiliating” for poor countries. Yunus likened the talks to a "fish market" packed with people trying to get the best bargains. “That’s a very wrong perception of the whole thing," he said. Bangladesh is among the most vulnerable countries in the world to climate change. Various scientific reports have found that the South Asian nation could lose up to 17% of its land to rising seas and is also at the brunt of increasingly more frequent and intense cyclonic storms. But “everyone’s home is on fire,” said Yunus. He said rich nations, who developed their economies by burning planet-warming coal, oil and gas, are "not safe either. So they have to act in their self-interest as well as the interest of the whole planet.” Yunus said he will dedicate his time as leader to clean energy projects in Bangladesh and protecting the population against climate change. “Whether it’s an interim government or no government or a democratic government, whatever government is in power should be aware and has to work hard to stop that fire," he said.

2024-11-13 20:26

2024-11-13

20:26

moneycontrol.com

https://www.moneycontrol.com/news/world/imran-khan-issues-final-call-for-protest-in-islamabad-on-november-24-12866662.html

Imran Khan issues 'final call' for protest in Islamabad on November 24

Former Pakistan PM Imran Khan (Courtesy: AP Photo).Related stories.

Pakistan's jailed former premier Imran Khan has issued a "final call" for a protest in Islamabad on November 24 to press for his release from jail, his sister said on Wednesday. His sister Aleema Khan, after meeting him in the Adiala Jail Rawalpindi, told the media that everyone from the Pakistan Tehreek-e-Insaf, including workers, members of parliament, and party supporters, should join the protest. "This is the moment when you will have to decide [whether] you want to live under martial law or live with freedom," she quoted Khan as saying. "You used your right [to vote] on February 8… but the next day, the foundation you had laid for democracy was stolen," she further quoted her jailed brother as saying. She further said that Khan has addressed his call to four categories of people — farmers, lawyers, civil society and students — who should come out to protest for their rights. Talking about the 26th Amendment being enacted as law, she quoted Khan as saying, “All of your rights have been taken away; the Supreme Court has been occupied, and the current conditions are even worse than previous martial laws.” Separately, the PTI in a statement said a long march would begin towards Islamabad on November 24 to force the government to accept three demands: “Restoration of the judiciary, as 26th amendment is a blatant attempt to clip judicial powers; release of party leadership & workers and return of stolen mandate, 2024 election by far, the most controversial and farce election.” The so-called final call for protest comes after a series of protests by the PTI supporters since September. The last protest call towards Islamabad on October 4 failed to achieve its objective. By giving the go-ahead for the final protest, Khan and his party have exhausted all channels to secure his release from jail, where he has been kept for more than a year.

2024-11-13 20:06

2024-11-13

20:06

moneycontrol.com

https://www.moneycontrol.com/news/business/ipo/zinka-logistics-ipo-subscribed-24-on-day-1-of-offer-12866649.html

Zinka Logistics Solutions IPO subscribed 24% on Day 1 of offer

Zinka Logistics Solutions.Related stories.

The initial public offer of Zinka Logistics Solutions, a digital platform for truck operators, got subscribed 24 percent on the first day of bidding on November 13. The IPO received bids for 54,08,100 shares against 2,25,67,270 shares on offer, as per NSE data. The portion for retail individual investors (RIIs) got subscribed 50 percent while the category for qualified institutional buyers (QIBs) fetched 26 percent subscription. The non-institutional investors part attracted 2 percent subscription. Zinka Logistics Solutionson Tuesday mobilised over Rs 501 crore from anchor investors. The Rs 1,115 crore IPO is available at a price range of Rs 259-273 apiece for public subscription during November 13-18. TheIPOis a combination of a fresh issue of shares worth Rs 550 crore and an offer of sale (OFS) of up to 2.06 crore shares. The OFS by promoters and investor selling shareholders is valued at Rs 565 crore at the upper end of the price band. Proceeds from the fresh issuance to the extent of Rs 200 crore will be used for sales and marketing initiatives; Rs 140 crore for investment in Blackbuck Finserve for financing the supporting the capital base to meet future capital requirements; Rs 75 crore for funding of expenditure in relation to product development, and a portion will be used for general corporate purposes. Zinka Logisticsis dedicated to transforming the trucking industry in India by digitally empowering truck operators to manage their businesses and increase their earnings. The company's BlackBuck app serves as a comprehensive platform, providing solutions for payments, telematics, load management and vehicle financing. The company partners with FASTag banks and multiple oil marketing companies (OMCs) to offer efficient and secure tolling and fueling solutions, generating revenue through commission margins based on transaction values. Axis Capital, Morgan Stanley India Company, JM Financial and IIFL Capital Services are the book-running lead managers to the issue.

2024-11-13 19:59

2024-11-13

19:59

moneycontrol.com

https://www.moneycontrol.com/news/business/startup/cait-accuses-quick-commerce-platforms-of-regulatory-violations-urges-government-intervention-12866658.html

CAIT accuses quick commerce platforms of regulatory violations, urges government intervention

Representative image.Related stories.

The Confederation of All India Traders (CAIT) has accused quick commerce (QC) platforms like Blinkit, Instamart, Zepto, and Swiggy of undermining India’s retail economy through alleged regulatory violations. In a white paper released on November 13, CAIT alleged that the said platforms are misusing Foreign Direct Investment (FDI) to dominate supply chains, control inventory, and fund predatory pricing tactics, creating an unfair environment for small retailers and pushing kirana stores out of business. Speaking at a press conference, CAIT Secretary General and Chandni Chowk MP Praveen Khandelwal condemned QC platforms for allegedly using FDI to subsidise operational losses and engage in unfair market practices. “These platforms are aggressively pushing small retailers out of the market,” Khandelwal said, adding that their strategies are making it difficult for the country’s 30 million kirana stores to compete. The white paper further outlines how QC platforms, which have received over Rs 54,000 crores in FDI, allegedly failed to invest in infrastructure or long-term assets, instead using the funds to subsidise deep discounts and secure exclusive agreements with preferred sellers. CAIT claimed these practices have allowed QC platforms to capture up to 30 percent of the market share once dominated by kirana stores. The white paper also accusesQC platforms of restricting market accessby securing exclusive deals with sellers, limiting competition and hindering the growth of independent retailers. Additionally, CAIT alleged that the platforms use FDI-funded discounts to squeeze Kirana stores out of the market, thereby distorting market conditions and negatively impacting competition. Furthermore, they claimed that QC platforms lack transparency by omitting key seller information, preventing consumers from making informed decisions. CAIT further accused QC platforms of bypassing FEMA guidelines by controlling inventory indirectly through their preferred sellers, in violation of FDI policies. “These platforms are circumventing FEMA regulations by controlling inventory through their sellers, which goes against the spirit of FDI laws,” said Brij Mohan Agrawal, National Chairman of CAIT. In light of these alleged violations, CAIT has called for immediate regulatory intervention, urging the government to implement stricter oversight and ensure QC platforms operate under fair practices. “Unchecked growth driven by foreign capital poses a significant threat to India’s small retail ecosystem,” the White Paper states. The trade body also welcomed Union Commerce Minister Piyush Goyal’s recent remarks, which aligned with the concerns raised by the trade body, underscoring the importance of ensuring fair practices by QC platforms and fostering alignment with local Kirana stores for faster deliveries. "We fully support the minister's emphasis on aligning quick commerce platforms with Kirana stores for faster deliveries, but this must not come at the cost of traditional retail," Khandelwal added. A survey by Datum Intelligence on November 13 revealed how quick commerce is expected totake away almost $1.28 billion in salesfrom traditional kirana stores  in 2024 alone. This shift reflects a notable change in consumer behavior, with nearly 46 percent of quick commerce buyers reducing their purchases from kiranas, signaling a clear preference for faster, more convenient digital alternatives. Popular names like Zomato's Blinkit, Swiggy Instamart, Zepto, BigBasket and Jiomart, known for delivering products within minutes, are rapidly becoming primary online retail channels, with 67 percent of kirana stores reporting a drop in sales since the emergence of quick commerce.

2024-11-13 19:58

2024-11-13

19:58

moneycontrol.com

https://www.moneycontrol.com/technology/moon-knight-reveal-trailer-for-marvel-rivals-arrives-article-12866659.html

Moon Knight reveal trailer for Marvel Rivals arrives

Moon Knight revealed for Marvel Rivals.Related stories.

Marvel’s Moon Knight has got his character reveal trailer for the upcoming team-based fighting game 'Marvel Rivals'. Marvel has been releasing character reveal trailers of the super-powered beings that will make up the roster of the game. Till now, the American comics giant has introduced Psylocke, Hela, Jeff the Land Shark, Spider-Man, Adam Warlock, Loki, Victor Von Doom (Dr. Doom), and other Marvel Comics Universe super beings in its character reveal trailers. Moon Knight (Marc Spector) is the latest to join the Marvel Rivals roster. Moon Knight: The Duelist in Marvel Rivals The ‘Moon Knight: Fist of Khonshu’ trailer showcases Moon Knight’s fighting tactics in Marvel Rivals. The avatar of Khonshu–the Egyptian Moon god in the Marvel Universe– is seen throwing Crescent Darts and summoning sacred ankhs. Moon Knight’s Crescent Darts serve him in both melee and ranged combat. He is seen wielding one in each hand and outclassing enemies. When thrown, they bounce amongst his enemies. His sacred ankhs connect him to the Moon God Khonshu and allow his darts to hit people behind cover. Moon Knight can also use his Moon Blade to quickly finish off his opponents. Moon Knight can glide using his cape like Batman but he has a crescent-shaped off-white cape, a stark contrast to Batman’s conventional black cape. For those not in the know yet, Marvel Rivals is a free-to-play 6v6 PvP fighting game by NetEase Games in which you get the chance to become a Marvel superhero or supervillain. It launches on December 6 on PS5, Xbox Series X|S and PC (Steam and Epic Games Store).

2024-11-13 19:57

2024-11-13

19:57

moneycontrol.com

https://www.moneycontrol.com/news/business/ipo/acme-solar-makes-weak-market-debut-shares-close-over-12-down-12866650.html

ACME Solar makes weak market debut; shares close over 12% down

ACME Solar Holdings.Related stories.

Shares of renewable energy firm ACME Solar Holdings on November 13 ended with a discount of over 12 percent from the issue price of Rs 289. The company's stock made its market debut at Rs 259, down 10.38 per cent from the issue price on the BSE. During the day, it tumbled 13.91 per cent to Rs 248.80. Shares of the firm ended at Rs 253.50, lower by 12.28 per cent. At the NSE, shares of the renewable energy firm listed at Rs 251, reflecting a slump of 13.14 per cent. The stock ended at Rs 255.15, down 11.71 per cent. ACME Solar Holdings' market valuation stood at Rs 15,338.98 crore. In traded volume terms, 13.33 lakh shares of the firm were traded at the BSE and 229.39 lakh shares on the NSE during the day. The initial share sale of ACME Solar Holdings got subscribed 2.75 times on the closing day of bidding on Friday. The initial public offering (IPO) had a price band of Rs 275 to Rs 289 per share. The Rs 2,900-crore IPO of the Gurugram-based company had a fresh issue of shares worth Rs 2,395 crore and an Offer For Sale (OFS) of shares valued at Rs 505 crore by ACME Cleantech Solutions. ACME Solar Holdings intends to utilise the proceeds from the fresh issuance to the extent of Rs 1,795 crore towards payment of debt, and a portion will be used for general corporate purposes. Over the years, ACME Solar has diversified and expanded its portfolio from solar power projects to becoming an integrated renewable energy company in India. The company develops, builds, owns, operates and maintains utility-scale renewable energy projects through its in-house engineering, procurement and construction (EPC) division and its operation and maintenance (O&M) team. ACME Solar generates revenue by selling electricity to various off-takers, including central and state government-backed entities.

2024-11-13 19:53

2024-11-13

19:53

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/farewell-bank-nifty-indias-favourite-derivatives-contract-bids-adieu-12866579.html

Farewell, Bank Nifty: India's favourite derivatives contract bids adieu

Bank Nifty weekly contract has been an attractive choice for retail traders due to its affordability and high turnover.Related stories.

India's most popular derivatives contract bid farewell on Wednesday, ending an era that saw millions of small investors flock to the Bank Nifty weekly options since its launch by the National Stock Exchange (NSE) in 2016. Trading of the popular options contract ended ahead of new, stricter regulations from the Securities and Exchange Board of India (Sebi) that take effect next week to curb widespread retail trading. Sebi’s new measures, also aimed at fostering market stability, will see only one weekly expiry allowed per exchange, with NSE retaining the Nifty 50 weekly and discontinuing the Bank Nifty weekly. In the first half of FY25, Nifty Bank had the highest share of 38 percent in terms of premium turnover in the derivatives market. Nifty was second with a 28 percent share, followed by BSE Sensex at 7 percent and BSE Bankex at 3 percent, according to IIFL Research. These changes are expected to impact trading volumes and could alter trading behaviour, with experts forecasting both immediate and long-term shifts. “The final rules were less strict than expected,” Sudeep Shah, Head of Technical and Derivative Research at SBI Securities, had said immediately after Sebi tightened F&O rules in October. At the time, he anticipated a knee-jerk reaction in the market as traders unwound open positions. Shah added that the end of daily expiries could help moderate volatility by reducing speculative trading activity in index options, especially on expiry days. The shift back to a structure of Nifty weekly and Bank Nifty monthly contracts is similar to the market setup seen in 2019. While larger traders are expected to adapt to the new requirements, including higher upfront margin collections, increased lot sizes, and the removal of calendar spread benefits on expiry days, the regulations may present challenges for retail participants. Lot sizes will triple, from Rs 5 lakh to Rs 15 lakh, raising barriers to entry for smaller retail traders. Rajesh Palviya, Senior Vice President at Axis Securities, said then that the higher trade costs could prompt high-frequency traders to modify their strategies and reduce their exposure, especially as finding retail traders to take counter trades becomes more difficult. Rishi Kohli, Managing Partner and Chief Investment Officer at InCred Capital, also foresees trading volume shifts, with a portion likely moving to Nifty 50 weekly options, Nifty Bank monthly contracts, and some single-stock options, as reported by Bloomberg today. However, he said that a part of the trading volume may “simply disappear” as some traders exit the derivatives market. The NSE's Bank Nifty weekly contract has been an attractive choice for retail traders due to its affordability and high turnover, making it a primary driver of options trading growth. In the first half of FY25, Bank Nifty accounted for 38 percent of premium turnover in India’s derivatives market. However, Sebi’s study of trading patterns revealed that retail traders incurred significant losses in these high-risk trades. The data indicated that only 7.2 percent of individual F&O traders made profits over the last three years, with the rest collectively losing Rs 1.81 lakh crore from FY22 to FY24. The impact of the regulatory changes could be significant for brokers as well, particularly those reliant on derivative trading volumes. Brokers like Zerodha Broking, with a high volume of futures and options trades, estimate that 60 percent of their derivatives trading activity may be affected. NSE’s Chief Executive Officer has also noted that the exchange expects a “substantial decrease in derivatives volume” following the new rules. Smaller traders, meanwhile, may shift their strategies toward stock-based options or margin trading facility (MTF) products, which still offer leverage with relatively lower entry costs. In the long run, experts suggest that Sebi’s measures could reduce market volatility and encourage a gradual shift from speculative F&O trading to cash equity investments, aligning with broader goals of fostering long-term wealth creation. “While there could be some knee-jerk reaction in the short term, these measures may have a positive impact over the longer term,” added Shah, who sees these steps as encouraging retail traders toward equity investments that promote sustained wealth generation.

2024-11-13 19:46

2024-11-13

19:46

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/ipo-bound-ntpc-green-energy-earmarks-rs-1-lakh-crore-for-projects-till-fy27-12866643.html

IPO-bound NTPC Green Energy earmarks Rs 1 lakh crore for projects till FY27

Going ahead, while NTPC Green will be expanding into other areas like green hydrogen and battery storage, currently, as per their plans around 90 percent was for solar and around 10 percent for wind..Related stories.

NTPC Green Energy, the wholly-owned subsidiary of power utility NTPC that is preparing for an IPO, has earmarked around Rs 1 lakh crore for their pipeline of green energy projects till FY27. Speaking to the media at a press meet to announce the IPO, CMD Gurpreet Singh explained, "Out of the 16 GW pipeline, 3Gw is expected to be completed in FY25, 5 GW in FY26 and 8 GW in FY27. These projects are predominantly solar wherein capex of Rs 5 crore to Rs 7 crore per MW is expected to be spent." Speaking to the media, the management expressed confidence in the company and opportunities in the coming day. Going ahead, while NTPC Green will be expanding into other areas like green hydrogen and battery storage, currently, as per their plans around 90 percent was for solar and around 10 percent for wind. As of September 2024, their portfolio includes 17 operational solar projects and 2 wind projects, with 36 projects that were either contracted or awarded and 17 different offtakers. The management also highlighted that as of September 2024, they are the largest renewable energy PSE (excluding hydro) in terms of operating capacity, with a portfolio of around 16,896 MW. The company is also in the process of developing a green hydrogen hub in Andhra Pradesh. "Hydrogen is at the stage where at one time solar was . At that time there was a lot of apprehensions about solar. We have made massive progress in 15 years. in this area too we will make great progress. We are becoming future ready," Singh added. NTPC Green IPOwill open from November 19-22. The company is planning a fresh issue of shares worth up to Rs 10,000 crore at a price band of Rs 102-108. NTPC Green Energy has an estimated P/E of around 147. Other peers include Adani Green Energy and ReNew Energy Global which have a valuation of around 259.83 and 470.05.

2024-11-13 19:39

2024-11-13

19:39

moneycontrol.com

https://www.moneycontrol.com/news/business/passenger-vehicle-wholesales-up-marginally-at-393238-units-in-oct-siam-12866655.html

Passenger vehicle wholesales up marginally at 3,93,238 units in Oct: SIAM

Representative image.

Passenger vehicle wholesales increased marginally year-on-year to 3,93,238 units in October, industry body SIAM said on November 13. The overall passenger vehicle dispatches to dealers stood at 3,89,714 units in October 2023. Total two-wheeler sales rose 14 percent year-on-year to 21,64,276 units last month, as compared to 18,95,799 units in October 2023, the Society of Indian Automobile Manufacturers (SIAM) said in a statement.

2024-11-13 19:35

2024-11-13

19:35

moneycontrol.com

https://www.moneycontrol.com/news/business/stocks/buy-samvardhana-motherson-target-of-rs-210-motilal-oswal-12866479.html

Buy Samvardhana Motherson; target of Rs 210: Motilal Oswal

Buy.Related stories.

Motilal Oswal's research report onSamvardhana Motherson Samvardhana Motherson (MOTHERSO) reported muted results, with an EBITDA margin of 8.8%, down 80bp QoQ (vs. est. 9.4%), hit by global PV industry slowdown, slower EV ramp-up, and seasonal factors. Despite the global challenges and inflated working capital, the company’s RoCE for 1HFY25 stood at 17.3% (up from 16.9% in FY24). To factor in the weak demand in key regions, we cut our FY25E/FY26E EPS by ~13.1%/~13.5%. Outlook We expect MOTHERSO to continue outperforming the global automobile sales, fueled by rising premiumization and EV transition, a robust order backlog, and successful integration of recent acquisitions. We reiterate our BUY rating with a revised TP of INR210 (based on 25x Sep’26E EPS). For all recommendations report,click here Samvardhana Motherson - 13112024 - moti

2024-11-13 19:25

2024-11-13

19:25

moneycontrol.com

https://www.moneycontrol.com/news/business/economy/us-inflation-stays-firm-for-third-month-with-0-3-core-cpi-gain-12866648.html

US inflation stays firm for third month with 0.3% core CPI gain

For many Americans, wage growth hasn’t kept pace with inflation in recent years, and frustration about the economy was a major factor in Trump’s decisive election victory.Related stories.

A measure of underlying US inflation remained firm in October, underscoring the ongoing risks Federal Reserve officials face in trying to achieve their target. The so-called core consumer price index — which excludes food and energy costs — increased 0.3% for a third month and 3.3% from a year ago, Bureau of Labor Statistics figures showed Wednesday. Economists see the core gauge as a better indicator of the inflation trend than the overall CPI. That measure, which includes food and energy, rose 0.2% for a fourth month and 2.6% from a year before, marking the first acceleration on an annual basis since March. The BLS said shelter accounted for over half of the overall monthly advance. The figures underscore the slow and frustrating nature of the battle against inflation, which has often moved sideways — sometimes for months at a time — on its broader path down. The latest numbers, along with strong consumer spending and economic growth, will keep Fed officials cautious as they debate how quickly to reduce borrowing costs in the months to come. The US central bank will also have to contend with a new set of policies under President-elect Donald Trump, with companies already considering raising prices in anticipation of the higher tariffs he’s promised on imported goods. After the Fed cut interest rates by a quarter point last week, Chair Jerome Powell said the election will have “no effects” on its decisions in the near term because it’s too early to know the timing or substance of any potential fiscal policy changes. US stock futures rose while Treasury yields and the dollar fell. Some measures of inflation expectations also remain somewhat elevated among consumers and businesses, a potentially worrisome sign after years of robust price pressures. Prices of used cars rose 2.7%, the most in over a year, and hotel rates climbed 0.4%, possibly reflecting damage and evacuation orders from Hurricanes Helene and Milton. Airfares continued to rise, and health insurance rose 0.5% as the BLS updated source data on premiums. Motor vehicle insurance fell slightly. Shelter prices, the largest category within services, rose 0.4%, marking an acceleration from the prior month. Owners’ equivalent rent — a subset of shelter and the biggest individual component of the CPI — rose by the same amount. Excluding housing and energy, service prices rose 0.3%, less than in September, according to Bloomberg calculations. While central bankers have stressed the importance of looking at such a metric when assessing the overall inflation trajectory, they compute it based on a separate index. That measure — known as the personal consumption expenditures price index — doesn’t put as much weight on shelter as the CPI does, which is one reason why it’s trending closer to the Fed’s 2% target. Goods prices excluding food and energy, meanwhile, rose for a second month. They had consistently fallen over much of the past year. However, excluding used cars, core goods prices fell 0.2%, marking the largest drop in 2024. The PCE measure draws from the CPI as well as certain categories within the producer price index, which is due Thursday. Several of the CPI items that registered robust gains, like health insurance and airfares, won’t feed through to the PCE, which should help keep that gauge relatively muted when the data are released later this month. Policymakers also pay close attention to wage growth, as it can help inform expectations for consumer spending — the main engine of the economy. A separate report Wednesday that combines the inflation figures with recent wage data showed real earnings grew 1.4% from a year ago, the same as in September. For many Americans, wage growth hasn’t kept pace with inflation in recent years, and frustration about the economy was a major factor in Trump’s decisive election victory. In an ABC News exit poll, 45% of people said they’ve become worse off under the current administration — a record high surpassing even the levels of the 2008 financial crisis.

2024-11-13 19:25

2024-11-13

19:25

moneycontrol.com

https://www.moneycontrol.com/news/india/modi-regime-sees-five-fold-jump-in-itr-filers-with-income-above-rs-50-lakh-middle-class-tax-burden-falls-12866640.html

Modi regime sees five-fold jump in ITR filers with income above Rs 50 lakh; middle class tax burden falls

A source said that 76 per cent of income tax collected is from those earning above Rs 50 lakh a year. This has led to reduced tax burden on the middle class.

Tax burden on individuals earning less than Rs 20 lakh a year, broadly described as middle class, has come down during the 10 years of Prime Minister Narendra Modi-led government, while there has been a substantial increase in taxes paid by those having annual income above Rs 50 lakh, sources said on Wednesday. As per the income tax return (ITR) filing data, the number of individuals showing annual income of over Rs 50 lakh has gone up to over 9.39 lakh in 2023-24, a five-fold jump from 1.85 lakh in 2013-14. Also, the income tax liability of those earning above Rs 50 lakh has gone up 3.2 times, from Rs 2.52 lakh crore in 2014, to Rs 9.62 lakh crore in 2024. A source said that 76 per cent of income tax collected is from those earning above Rs 50 lakh a year. This has led to reduced tax burden on the middle class. Also, the increase in number of people filing ITRs with annual income above Rs 50 lakh is due to ”strong anti tax evasion and black money laws implemented by the Modi government”, the source added. The source further said that in 2014, individuals earning above Rs 2 lakh a year had to pay income tax. However, because of various exemptions and deductions announced by the Modi government, individuals earning up to Rs 7 lakh need not pay any taxes. The percentage of income tax collection from taxpayers earning less than Rs 10 lakh has reduced, from 10.17 per cent of the total tax paid in 2014, to 6.22 per cent in 2024. According to the source, the income tax liability of those earning between Rs 2.5 and Rs 7 lakh was an average Rs 43,000 in 2023-24, which is around 4-5 per cent of their income — a level which is the lowest amongst emerging economies. The source further said that as per official calculations, after adjusting inflation over the 10-year period, there is almost 60 per cent decrease in tax liability for those earning in the range of Rs 10-20 lakh. The number of income tax returns filed by individuals have increased, from over 3.60 crore in 2013-14, to 7.97 crore in 2023-24, representing an increase of 121 per cent.

2024-11-13 19:15

2024-11-13

19:15

moneycontrol.com

https://www.moneycontrol.com/news/business/ipo/patience-vindication-joy-scenes-from-swiggys-successful-listing-12866586.html

Patience, vindication, Joy: Scenes from Swiggy’s successful listing

Swiggy's group CEO and co-founder Sriharsha Majety along with NSE's chief Ashish Chauhan and delivery partners.Related stories.

Barely seven years ago, Swiggy came close to merging with rival Zomato, as they looked to combine forces amid intensifying competition in the sector. Rumours of those talks resumed two years later, as Amazon and Uber stepped up investments in India. The talks ultimately fell through, something that their investors and employees will perhaps be thankful for today. Because a rushed merger wouldn’t have unlocked the scale of wealth that IPOs have for the food and grocery delivery giants. While Zomato’s market cap is over 2 lakh crore, Swiggy crossed the 1 lakh crore on the first day of its listing on November 13, ending the first day of trade at Rs 464.55, up 10.48% from the issue price on the National Stock Exchange (NSE). Orange is the new blackBut share price wasn’t top of mind for the motley crew assembled at the NSE on November 13, for Swiggy’s bell ringing ceremony. From its investors such as Accel, Prosus, Elevation and SoftBank, to current and former employees, to gig workers- there was a sense of optimism, cheer and excitement. (L-R) Swiggy board members SoftBank’s Sumer Juneja with Prosus’ Ashutosh Sharma. From an idea that took shape at Arbor Brewing Company (ABC), a popular brewery in Bengaluru, to IPO bell-ringing at the National Stock Exchange, it’s been a rollercoaster for the food and grocery delivery major. An investment banker asked: “What’s your prediction? Where’s the share opening?” his friend, after about three seconds, said, “Up. In the late teens.” (It opened at a premium of 8 percent). It’s a colour that you would normally see on their delivery partners on the street but orange had taken over Dalal Street on November 13, as everyone at the IPO ceremony turned up in Swiggy’s signature orange sweatshirts. Swiggy's IPO jacket IPO proceedings then began at around 9 am. First up was the lamp lighting ceremony for which top executives and investors were asked to go up on the stage. Swiggy’s food delivery CEO Rohit Kapoor was nudged to remove his shoes before lighting the lamp. Swiggy lamp lighting ceremony The emcee then introduced Swiggy’s m-team: co-founders Sriharsha Majety, Nandan Readdy, Phani Kishan along with food delivery CEO Rohit Kapoor, Instamart chief executive Amitesh Jha, head of HR Girish Menon, CTO Madhusudhan Rao and CFO Rahul Bothra all of whom took the stage to loud applause and cheers. Back in Bengaluru, there were Swiggy IPO watch parties by former employees who were set to make paydaythanks to their ESOP holdings. A lifeline “In Indian cities, maids are the lifeline of families…more essential and closer than relatives. Similarly…at homes, when both partners are busy with work, Swiggy is the lifeline and the go-to aid for all these families,” he said during his speech, which he promised to end in under 10-minutes to match Swiggy Instamart’s delivery timelines. “A lot of credit to the founders, management team and I would single out Rahul (Bothra, CFO) who particularly drove this IPO to its conclusion,” Kotak’s S Ramesh added. Man of the moment A few speeches later, group CEO Sriharsha Majety took the stage. He shed his usual reticence, with a trip down memory lane. He recalled a college project from 2010 which was very similar to what Swiggy is now. “For that idea to have gotten executed itself is a rarity but to execute it to the size and scale that we have right now is an absolute miracle. And nothing short of a miracle,” he told his people. “My love letter to our consumers is that: With a little bit of Swiggy in your lives, may we (India) not just get economic growth but we enjoy the economic growth,” Majety, who hardly walked 15 steps without shaking hands with somebody, added. Swiggy group CEO and co-founder Sriharsha Majety takes the bull by the horns alongside his m-team Post-listing world During his 5-minute long speech Majety thanked the support his wife, Neetha Joy, extended over the years since IIM-Calcutta days. Neetha Joy expects no major changes post the IPO. The couple, who are parents to two young children, usually prefer staying in during the weekends and socialise occasionally. Show me the money Some of the venture capital associates around her were seen calculating the returns investors made. One even highlighted that Accel made a whopping 26X return on its $19.85 million investment in Swiggy. “Everyone around me seems to be calculating returns but me,” a venture capital partner remarked. “When you make the kind of returns you made, you skip the calculations,” his peer replied. In a hall full of people who obsess over numbers, not many drew comparisons between Swiggy’s listing and Zomato’s stock market performance. Instead,they chose to celebrate the milestonethat came 10 years after inception – a sight which was rare to see. Asked if he would be tempted to check stock prices every hour, a large investor of Swiggy said, “I will do it for a couple of days to satisfy my ego.” His statement was delivered in a manner which was meant to highlight the efforts and conviction it has taken for Swiggy to go from a small company in 2014 to a public firm that is worth over one lakh crore. “Everything until now was a nightmare but we did it! I cannot wait to go home and call it a day,” an early Swiggy employee remarked. Swiggy's team at the listing ceremony at the NSE

2024-11-13 19:13

2024-11-13

19:13

moneycontrol.com

https://www.moneycontrol.com/news/india/higher-pit-collection-doesnt-equate-higher-tax-on-individuals-sources-clarify-12866634.html

Higher PIT collection doesn't equate higher tax on individuals, sources clarify

Representative image.

Higher personal income tax (PIT) collection under the direct tax does not reflect that individuals are taxed more than corporates, sources told Moneycontrol. The clarification comes as the corporate tax collection growth stood lower than PIT in the current fiscal as reflected in the government data till November 10. The PIT nomenclature has also been changed by the Central Board of Direct Taxes (CBDT) henceforth to non-corporate tax collection. “In fact, the burden of direct tax on the middle class and upper middle class of income up to Rs 20 lakh has substantially gone down over the last years,” a source said.

2024-11-13 19:08

2024-11-13

19:08

moneycontrol.com

https://www.moneycontrol.com/news/business/earnings/vodafone-idea-narrows-q2-net-loss-at-rs-7175-crore-arpu-at-rs-166-12866155.html

Vodafone Idea narrows Q2 net loss at Rs 7,176 crore, ARPU at Rs 166

Vodafone Idea Q2 FY25 Results Update.Related stories.

Vodafone Idea, the debt-laden telecom company, narrowed its consolidated net loss in Q2 to Rs 7,176 crore from Rs 8,737 crore last year. The telco had reported a net loss of Rs 6,432 crore in the previous quarter. The telco's revenue from operations increased marginally by 2 percent year-on-year (YoY) to Rs 10,932 crore. There was an increase of 4 per cent quarter-over-quarter. The telco's EBITDA for the quarter increased to Rs 4550 crore in the reporting quarter. This compares with Rs 4283 crore in the last year quarter. Customer ARPU (ex M2M), a key performance indicator, improved to Rs 166 in the quarter compared to Rs 154, up 7.8 percent on a sequential basis, driven by tariff hike. Total subscribers stood at 205 million, with 4G subscribers at 125.9 million, down from 126.7 million in Q1FY25. The overall subscriber base, including 4G, was affected by recent tariff hikes. In the postpaid segment, the company claimed to increase its customer base on a QoQ and YoY basis. Customer revenue increased by 5.6 percent compared to last quarter, aided by the recent tariff hikes undertaken by all private operators. Capex spending for Q2FY25 was Rs 1,360 crore vs Rs 760 crore in Q1FY25. The expected capex for H2FY25 is Rs. 8000 crore. Akshaya Moondra, CEO ofVodafone Idea Limited, said, “Post the successful capital raise, we kicked off our 4G expansion drive on an accelerated trajectory. We expanded 4G data capacity by 14 percent and 4G population coverage by 22 million, and consequently, our 4G speeds improved by 18 percent." During the quarter, the telco finalised long-term capex contracts worth $3.6 billion with three global partners, Nokia, Ericsson, and Samsung, for the supply of network equipment over the next three years. "On the debt raise, we remain engaged with our lenders for tying up debt funding towards the execution of our network expansion with planned capex of Rs. 500 to 550 billion over next 3 years. The impact of recent tariff interventions can be seen in improved ARPUs andrevenue for the quarter, though the full impact will be reflected over the next couple of quarters. Further tariff rationalization is needed for the industry to fully cover its cost of capital," Moondra said. The telco said its debt from banks and financial institutions reduced by Rs 4580 crore during the last one year (was at Rs 7830 crore in Q2FY24) and stood at Rs 3250 crore. The cash and bank balance was Rs 13,620 crore as of September 30, 2024. As of September 30, 2024, the government's payment obligations stood at Rs 2,12,260 crore, including deferred spectrum payment obligations of Rs 1,41,940 crore and AGR liability of Rs 70,320 crore. During the quarter, the telco added ~42,000 4G sites, its largest ever addition in 4G sites in a quarter. It also executed network enhancement by deploying 4G on sub GHz 900 band across ~20,500 sites, including site expansion on recently acquired 900 MHz spectrum in some circles, offering superior indoor network experience as also increased coverage. "We also added ~21,200 sites in the 1800 MHz and 2100 MHz bands mainly to increase the network capacity resulting in customers experiencing faster data speed on Vi GIGAnet network," the telco said. The telco shut down ~19,700 3G sites and our overall broadband site count stood at ~439,600 as of September 30, 2024. Due to rapid shutting down of 3G sites across circles, 3G sites are present only in 8 circles as of September 30, 2024. "We have deployed ~74,750 TDD sites, ~13,950 Massive MIMO sites and ~13,250 small cells till date. Further, we expanded our LTE 900 presence to 16 circles out of 17 priority circles," the telco said.

2024-11-13 19:06

2024-11-13

19:06