Sandip Sabharwal analyzes mixed auto sales data and positive retail sales, particularly focussing on Avenue Supermarts’ growth. The valuation of D-Mart remains expensive but shows potential for revival. Contrarian opportunities in NBFCs are highlighted, and the impact of ITC Hotels’ demerger on Indian Hotels’ competitiveness is discussed.
The 30-share BSE Sensex was down 603.92 points at 79339.79
A total of 102,633 shares changed hands on the counter till 10:36AM (IST)
A total of 188,311 shares changed hands on the counter till 10:31AM (IST)
A total of 1,092,779 shares changed hands on the counter till 10:26AM (IST)
The Indian rupee hit a record low against the dollar last week, effectively increasing the margins of exporters.
The Nifty IT index was trading 1.1 per cent at 43863.40.
The Nifty50 Index saw a strong surge, closing at 24,188.65 after activity spiked in Financials, IT, and Auto stocks. The index rebounded from its 200-day EMA, signaling positive market sentiment. Analysts suggest a target range of 24,500–24,600. The Bull Call Spread strategy is recommended to capitalize on moderate upside, with key support at 23,700.
As of 30-Sep-2024, promoters held 52.63 per cent stake in the company, while FIIs held 21.23 per cent and domestic institutional investors had 8.94 per cent.
India's rural and urban consumption gap is reducing significantly, thanks to government initiatives like direct benefit transfers and improved rural infrastructure. The report indicates decreasing inequality and poverty rates, with states such as Bihar showing notable progress. However, challenges remain in regions like Uttar Pradesh.
Shares of REC Ltd and PFC surged 2.8% after Emkay Global initiated coverage with a BUY rating, citing sustained loan growth, stable margins, and improving asset quality. Emkay highlights the robust capex plans in the power sector, government reforms, and attractive valuations as key reasons for their optimistic stance on these PSU power financiers.
Kabeer Biswas, the sole remaining cofounder and present CEO at Dunzo, has discussed with investors plans to leave the company.
Yes Bank has announced that its loans and advances have grown by 12.6% year-on-year (YoY), reaching Rs 2,45,035 crore as of December 31, 2024, up from Rs 2,17,523 crore in the same period last year
An engineer on Reddit suggested Tier 2 and 3 college graduates leave India for a respectful life. He claimed IIT graduates look down on non-IIT peers in the workplace, leading to discrimination. Moving to the US for higher studies improved his experience. Many Reddit users agreed, but some felt it was a specific issue.
A total of 262,153 shares changed hands on the counter till 10:15AM (IST).
The President of the global philanthropic foundation Rockefeller Foundation shares his thoughts around India’s clean energy transition and how the country’s efforts are becoming exemplary for many emerging markets.
The Nifty Pharma index was trading 0.84 per cent at 23354.40.
Among these three funds, two are from Bajaj Finserv Mutual Fund and one is from UTI Mutual Fund.
Axis Securities recommends buying Muthoot Finance with a target price of Rs 2455. Muthoot Finance's current market price is Rs 2228.3. It is a large cap company with a market cap of Rs 88934.29 crore, operating in the NBFC sector. Promoters hold 73.35% stake, while FIIs and DIIs have 9.85% and 13.29% respectively.
Top brokerages like Morgan Stanley and Jefferies have shared optimistic recommendations for Indian stocks. Morgan Stanley maintains a target of Rs 400 for Petronet LNG, expecting demand growth. Jefferies recommends ONGC with a 52% upside, citing limited earnings impact. Morgan Stanley also maintains an "Overweight" rating on Maruti Suzuki India, with a target price of Rs 14,124.
A total of 11,226 shares changed hands on the counter till 10:10AM (IST).
Avonmore Capital, Orient Technologies, Vishal Mega Mart, Shree Global and Wockhardt, hit their fresh 52-week highs at 10:09AM.
On January 2, gold and silver futures saw modest gains due to a softer US dollar and ongoing geopolitical tensions. Gold February futures rose to Rs 77,900/10 grams, while silver March futures increased to Rs 89,399/kg. Gold prices have risen by Rs 1,356/10 grams this week, and silver by Rs 500/kg, reflecting a weekly upward trend.
A total of 59,345 shares changed hands on the counter till 10:05AM (IST)