Nippon Steel President Tadashi Imai said they may file a lawsuit against the U.S. government. President Joe Biden blocked their $14.9 billion bid to purchase U.S. Steel citing national security concerns. Imai mentioned the review process was not properly handled and promised quick countermeasures to the U.S. government's decision.
Considering the annualised net profit for the six months ended September 2024 and equity after IPO, company demands a P/E multiple of 38.5 compared with 66 and 63 for peers including GMM Pfaudler and HLE Glasscoat.
Union Bank reported a 2% YoY increase in its domestic deposits from the previous year at Rs 11.82 lakh. Sequentially, it was down 2%.
Looking ahead to the second week of the year, the earnings season begins with IT major TCS, a key trigger as any signs of improvement in Q3 numbers could reverse the ongoing trend of FII outflows.
Officials have unveiled measures aimed at bolstering growth, including cutting interest rates and easing homebuying restrictions, but economists have warned more direct stimulus may still be needed.
Indian deep-tech startups in GenAI are creating solutions in sectors like finance, AI cloud, video streaming, and healthcare, targeting global markets. Ten promising AI startups are highlighted, showcasing their vision and challenges.
Legal experts are worried about proposed rules that could restrict sending personal data abroad. The Indian government assures the new data rules do not require data localisation. However, compliance costs and potential trade barriers are concerns. Age-gating using school databases is commended but poses challenges. Parental consent requirements for children under 18 could affect social media and gaming companies.
D2C brands and quick commerce platforms are experiencing a surge in demand for health and fitness products as consumers focus on fitness and personal wellbeing. Companies like Healthify and Boldfit report significant revenue increases, and fitness wearables and protein-based items see heightened sales, particularly in Tier II and Tier III cities.
India's technology outsourcing industry is expected to improve in the December quarter due to currency benefits. However, caution remains as the industry recovers from previous stagnation. Leading companies like TCS, HCLTech, Infosys, Wipro, and others will present their earnings soon. Analysts will focus on management commentary, future IT budgets, and demand outlook for 2025.
More than two dozen startups in India improved their financial performance in FY24 with a combined revenue of over Rs 500 crore. Startups like Purplle, Porter, Lenskart and PhonePe achieved growth and better margins while others focused on reducing losses. The trend emphasises healthier business practices as funding remained tight.
Accel plans to take more startups public this year. The venture fund closed its eighth India-focused fund of $650 million. Accel aims to invest in sectors like AI, fintech, and consumer internet. It supports companies from pre-seed to IPO and focuses on aligning valuations with long-term growth. The fund expects IPO activity to continue increasing in the near future.
Bajaj Allianz Life and Bajaj Allianz General, HDFC Ergo General Insurance, SBI General Insurance, and Kotak Life are large unlisted insurance companies.
Here are some suggestions from wealth advisors on how mutual fund portfolios could be structured for conservative, moderate risk, and aggressive-risk investors this year.
Strong support is placed at 23,300 which we expect to hold as it is the confluence of 61.80% retracement of the June-September rally (21,281-26,277) coinciding with the 52-week EMA at 23,350. Buying on dips in quality stocks would be the prudent strategy.
The finance ministry has approved an incentive scheme worth nearly $3 billion aimed at boosting domestic manufacturing of electronics components. The scheme is expected to increase local production of components and subassemblies, with a goal of significantly reducing import dependency and enhancing local value addition to 35-40% within its tenure.
Tata Sons has instructed its group companies to manage their own debts without relying on cross-default clauses or letters of comfort. Future funding for new ventures will come from equity investments and internal accruals. Banks are confident in extending credit due to the financial stability and equity stakes held by Tata Sons in these companies.
Currently, only micro, small and medium enterprises (MSMEs) benefit from incentives under the Interest Equalisation Scheme. However, these benefits are capped at Rs 50 lakh against Rs 10 crore earlier. Most of the goods they make are labour intensive.
Front-running is an illegal practice of purchasing a stock based on unpublished information of a large transaction that could move prices. Since big trades by large investors usually move stock prices, those with insider information build positions prior to the execution of the large investor's order betting that they would make profits once the purchase or sale happens.
This was closer to 2024's lows of 12.7% on June 4, which was seen at the start of June 2024 during the once-in-five-year mega event of the Lok Sabha election results, said Rajesh Palviya, head of technical and derivatives research at Axis Securities.
Select stocks gain momentum even in volatile markets.
Varun Beverages stock is showing signs of bottoming out after 7 months of consolidation. Experts suggest medium-term traders with a high-risk profile can buy the stock for a target of Rs 760 in the next 2-4 months if it breaks from the July record high. The stock is trading above crucial moving averages, indicating a potential breakout.