Indian benchmark indices, Sensex and Nifty50, opened lower on Thursday, influenced by negative global cues ahead of the December-quarter earnings season. Major laggards included SBI, L&T, Zomato, Adani Ports, and UltraTech Cement, while Kotak Mahindra Bank, M&M, Asian Paints, and Infosys opened higher. The earnings season, starting with Tata Consultancy Services, is expected to direct market movements.
Manappuram Finance Share Price: Morgan Stanley highlighted that the RBI has lifted restrictions on Asirvad Micro Finance with immediate effect. Morgan Stanley has factored in approximately 10% provisions for the MFI loan book for FY25-27 due to the previous embargo. The valuation assigned to Asirvad MFI in the sum-of-the-parts (SOTP) valuation has now been removed.
Saudi Arabia Weather: Saudi cities including Mecca and Jeddah faced heavy rainfall and flooding on January 8. Residents formed human chains to help marooned children. Although no casualties are reported, the floods have stressed the underdeveloped sewage systems. The National Meteorological Centre has issued red alerts and closed public spaces, while schools moved to online classes in some regions.
BNP Paribas Securities rates LTIMindtree as outperform with a target price of Rs 6,255. LTIMindtree's growth is broadening across verticals and geographies. The company shows potential for solid earnings growth due to strategic advantages post-merger. Its recent financials reflect positive growth, with a total income of Rs 9731.80 crore and a net profit of Rs 1251.60 crore.
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Apple clarified that it has never sold data from its Siri voice assistant or used it for marketing profiles, following a $95 million settlement over such accusations. The tech giant emphasized that Siri data is only used to improve accuracy, and users must explicitly opt in for that. A similar lawsuit involving Google's Voice Assistant is also ongoing.
Honeywell and NXP Semiconductors announced an expanded partnership to develop AI-driven technology for aviation and autonomous flying. The collaboration will combine Honeywell's Anthem avionics system with chipmaker NXP's computing architecture to enhance flight planning, managing and autonomous flying. Vertical Aerospace, an eVTOL maker, will use Anthem to test its VX4 aircraft.
This IPO aims to raise Rs 698 crore through a combination of fresh equity issuance and an offer for sale (OFS).
Advait Energy Transitions will be in the spotlight as it receives a LoI from Gujarat Urja Vikas Nigam Ltd for a 50 MW segment of the 500 MW Standalone Battery Energy Storage System project. This project is part of GUVNL's Phase-IV, supported by Viability Gap Funding.
LA Fire: James Woods, the renowned actor, has lost his Pacific Palisades home in the devastating Southern California fires. Speaking emotionally in an interview with CNN, Woods recalled his evacuation and the support from his neighbours. The fires have forced thousands of residents to evacuate, and Hollywood events have been cancelled in response to the ongoing disaster.
Brokerage firm InCred Equities is positive on several large-cap stocks.
Motilal Oswal Financial Services suggests buying Kalyan Jewellers shares, aiming for a target price of Rs 875. Currently, the price is Rs 682.75. Kalyan Jewellers has shown significant growth with increased revenue and added new showrooms. The company has a strong shareholding base with promoters having 62.9% stake. The positive performance was driven by demand during festive and wedding seasons.
Authum Investment & Infrastructure, established in 1982, is a registered NBFC listed on both the BSE and NSE. The company's market capitalization stands at Rs 32,265 crore. Additionally, Mahi Madhusudan Kela is the wife of renowned investor Madhusudan Kela.
Reliance Industries shares are in focus as Morgan Stanley sets a target price of Rs 1,662, indicating 31% growth potential. The brokerage cites the improving outlook for RIL’s refining business, anticipated growth in retail profitability, and the underappreciated potential of RIL’s New Energy segment. Additionally, Jefferies and Bernstein revised their target prices, reinforcing positive sentiment.
The Indian market enters 2025 with optimism tempered by caution. GDP growth is projected at 6.5%-7%, driven by domestic consumption and industrial expansion, positioning India as a resilient investment destination.
India’s economy is set for growth, driven by sectors like infrastructure, technology, clean energy, electronics, and healthcare. Government initiatives such as 'Make in India' and 'Digital India' fuel investment opportunities, particularly in manufacturing, IT, and renewable energy. With a focus on innovation and sustainable development, India is poised to become a leading global economic powerhouse.
HDFC Securities recommends a buy on Mahanagar Gas with a target price of Rs 2,000. Currently trading at Rs 1,240.05, the mid-cap company's latest financials show a 13.53% increase in total income and a net profit of Rs 283.50 crore for Q2FY25. Promoters hold 32.5% stake, while FIIs own 34.2%, and DIIs have 15.45%.
Wildfires in Los Angeles' Pacific Palisades forced celebrities like Mark Hamill and Mandy Moore to evacuate. Firefighters are battling uncontrolled fires that have spread across the area, destroying homes. Roads are clogged, and tens of thousands have fled. Many are waiting to see if their homes survived. Studios and museums have been temporarily closed.
Rescue operations at the Dima Hasao coal mine are in full swing with NDRF using pumps to remove water. A body was recovered by divers despite murky, acidic conditions. Specialised support is crucial due to hazardous underground conditions and mining equipment hindering progress. Efforts to locate all trapped individuals continue.
Significant gains were seen in JLR’s flagship models, with the Range Rover up by 22%, Range Rover Sport up by 17%, and Defender up by 13% year-on-year. These high-margin models made up 70% of the total wholesale volumes.
Amid a 10% decline in Nifty from its September peak, the year 2025 may favor asset allocators. While stock markets may offer limited gains, the recent correction presents a chance to accumulate blue-chip stocks for long-term growth. Precious metals like gold and silver can hedge against inflation, and a 3-5 year duration offers optimal returns on debt.
Microsoft India president Puneet Chandok announced a $3 billion investment to build tech, infrastructure, and AI capacity in India. The company aims to train 1 crore people over five years, with 24 lakh already trained. In March 2024, the government approved a budget of Rs 10,372 crore for the development of the country's AI ecosystem over the next five years.
Rahul Gandhi and Arvind Kejriwal express condolences for the tragic stampede at Tirupati, which resulted in the death of six people and injuries to several others. Andhra Pradesh CM N Chandrababu Naidu criticizes officials' management, pledges support, and plans to meet victims' families.