Indian markets are expected to consolidate on November 6, 2024, following mixed global cues. Nifty formed a bullish candle, with key support at 24,000 and resistance at 24,500. Experts recommend stocks like Jubilant FoodWorks, L&T, SBI, and Deepak Nitrite for short-term trading, with specific targets and stop-loss levels. Market volatility remains high, as seen in rising India VIX.
The company is among the biggest stock market winners of the generative AI boom, with its shares more than doubling in value this year.
The company has secured deals worth more than $8 billion in total from cloud and tech companies such as Alphabet's Google, Microsoft, Amazon Web Services (AWS) and Meta Platforms for its networking solutions, chief financial officer Chris Stansbury said.
Motilal Oswal Financial Services recommends buying Tata Power Company with a target price of Rs 509. Tata Power's current market price is Rs 444.8. The company, incorporated in 1919, operates in the power sector with various revenue segments. Promoters hold 46.86% stake, and the latest quarter net profit is Rs 858 crore.
Axis Securities is bullish on 8 large-cap stocks with up to 31% upside potential, including ICICI Bank, SBI, HDFC Bank, Bharti Airtel, and Cholamandalam Investment, citing strong growth and favorable financials.
Honda Motorcycle & Scooter India witnessed a 21% surge in sales this October, selling 5,97,711 units. This success was fueled by a 20% rise in domestic sales and a significant 48% jump in exports. The company also celebrated milestones, crossing 10 million cumulative sales in central India and 5 million in Karnataka.
It’s not just last month, the strategy has seen a good turnaround in performance in the last 6 months and in the last 6 years, it has created high single-digit alpha over the Nifty50 index.
We enter any particular sector with a rolling 3-5 years view to earn minimum compounded returns of around 15%. So either it doubles in five years or if we are much better at catching the trend, then it would be compounding at 25% - which means doubling in 3 years.
The 21st India-US Military Cooperation Group meeting took place in New Delhi, focusing on strengthening defense cooperation and interoperability between the two nations. This follows the commencement of Exercise Vajra Prahar in Idaho, US, which aims to enhance collaboration and share best practices between Indian and US Special Forces.
Karnataka Chief Minister Siddaramaiah appeared before the Lokayukta police in Mysuru to face an inquiry into an alleged land allotment scam involving the Mysuru Urban Development Authority (MUDA). The inquiry stems from allegations that MUDA illegally allotted sites worth Rs 56 crore to Siddaramaiah's wife. The Enforcement Directorate (ED) is also investigating the case for potential money laundering.
HDFC Securities recommends a buy on Federal Bank, targeting Rs 240. The bank's Q2 2024 total income rose 4.59% sequentially to Rs 8015.29 crore, with a net profit of Rs 1096.25 crore. HDFC foresees improved RoA and RoE ahead, advising investments at Rs 202-207 and Rs 182-187 for potential gains in the next 2-3 quarters.
US election results may be delayed, increasing market uncertainty. A Trump win could mean trade tensions for India. A gridlocked Congress might limit policy changes. "Trumpism" remains influential regardless of the winner. Experts believe Trump's policies could continue to impact the US even if he loses.
Bitcoin reached a new record high, exceeding $75,000, following early US election exit polls that indicated a potential lead for Donald Trump. The cryptocurrency market reacted positively, with Bitcoin surpassing its previous peak of $73,750. The election outcome remained uncertain, contingent on results from key swing states.
Pennsylvania Election Results Live: The state’s outcome could prove decisive in the race for the White House, with both candidates focused heavily on securing support in this key swing state. As the results continue to come in, all eyes are on Pennsylvania to see if Trump can close the gap or if Harris will maintain her lead.
Election Day in the United States saw a mix of smooth operations and disruptions. While early voting proved successful, bomb threats, later identified as hoaxes, forced evacuations and extended hours at polling places in several battleground states. Former President Trump made unsubstantiated claims of election fraud, specifically targeting Philadelphia and Detroit, which local officials refuted.
Perplexity is set to raise $500 million in the new funding round led by venture capital firm Institutional Venture Partners (IVP), which also holds a board seat in the startup.
Swiggy's IPO launch sparks debate on the better investment: Swiggy or Zomato. Zomato, currently profitable with a larger market share, has seen a stock surge. Analysts believe Swiggy, though currently unprofitable, might become a stronger competitor post-IPO with funds directed towards expansion and achieving profitability. While Zomato holds experience, Swiggy's IPO discount presents a compelling opportunity for investors.