Bata India expects a recovery in upcoming quarters driven by festive season demand, retail expansion, and e-commerce growth. The company planned store renovations and affordable new products for young buyers, alongside investments in technology and premiumization, despite a recent decline in revenue.
The Pakistan government has slowed down internet and social media networks to curb dissent, risking economic stability. Since July, connectivity issues have affected WhatsApp and other services. Activists and business leaders warned of significant economic losses. Legal actions, protests, and concerns about surveillance and loss of free speech have followed.
Marcellus' Global Compounders fund, managed by Arindam Mandal, has outperformed the S&P 500 by limiting exposure to megacap stocks. This strategy shielded the fund from recent market volatility.
TVS Motor Company aimed to broaden its electric vehicle sales in both developing and developed markets, betting on India's potential as a major export hub. The company used its Indonesian plant for the ASEAN region, reporting increased sales. They expanded their EV network in India and planned further product launches.
India was expected to require around 1 lakh company secretaries by 2030 amid economic expansion and a governance focus, according to ICSI. With more than 73,000 company secretaries presently, ICSI aimed to attract young talent by allowing direct registration for graduates and postgraduates. India hopes to become a USD 7 trillion economy by 2030.
Indian equity indices rose on Friday, driven by IT stocks and positive U.S. economic data. The Nifty may consolidate between 24,300 and 24,550, with potential gains above 24,550.
Rupak De from LKP Securities identified Balrampur Chini, Tata Motors, and ICICI Lombard as top stock picks. Each stock showed positive indicators, suggesting potential upward movement.
Bharat Petroleum Corporation Ltd plans to invest Rs 1.7 lakh crore over the next five years to expand its oil refining and fuel marketing businesses and venture into petrochemicals and green energy. The initiative, named Project Aspire, aims for substantial growth and supports India’s energy transition goals, targeting net-zero carbon emissions by 2040.
Indian benchmark indices surged over 1.5% on Friday, driven by positive global outlooks and strong U.S. economic data. The NSE Nifty 50 closed 1.65% higher at 24,541.15, and S&P BSE Sensex rose by 1.68% to 80,436.84.
Ten new mutual fund NFOs were scheduled to open for subscription next week. Categories included index funds, sectoral funds, dividend yield, large & mid cap, multi-asset allocation, multi cap, ultra-short duration, and an ETF. Prominent offerings came from Tata, Nippon India, Bandhan, Axis, Union, ITI, Baroda BNP Paribas, Groww, PGIM India, and Franklin India.
ETFs in India observed a rise in assets under management, reaching Rs 8.11 trillion by July 2024. Enhanced digital accessibility and innovative ETF products from mutual fund houses appealed to individual investors. Regulatory measures and the introduction of new thematic ETFs have boosted investor confidence, facilitating portfolio diversification and reduced costs.
In December 2020, India's test series victory in Australia highlighted how people's identities shape their perceptions. The author explores how investing styles become part of an investor's identity, often leading to biased decision-making. He advises keeping one's investing identity small to stay objective, adapt to changes, and improve portfolio performance.
TVS Motor Company predicted growth this fiscal by leveraging new product launches and operational improvements, CEO KN Radhakrishnan reported. The company aimed to outpace industry trends in both domestic and international markets. Plans included expanding in Africa, the Middle East, and Latin America, while addressing challenges like currency devaluation and inflation in specific regions.
The euro economy has sent distress signals recently, with consumers unwilling to spend despite outsized wage increases, private-sector activity grinding to a halt, and confidence in its largest member — Germany — tanking.
Devender Singhal, a Fund Manager at Kotak Mutual Fund, recounts his professional trajectory starting from a campus placement in 2001. Residing in the financial sector since then, he now manages various funds such as Kotak Multicap. His investment strategy focuses on favorable risk-reward ratios and the impact of behavioral finance on market dynamics.
Vice President Kamala Harris has taken President Joe Biden's place in the presidential race, with plans to continue his policies. Her objectives include tackling price gouging, tax cuts for families, and addressing medical debt. Meanwhile, former President Donald Trump seeks to return with significant policy shifts. The candidates offer contrasting visions for the country's future.
IMF's Gita Gopinath pointed out that India must create 60 to 148 million jobs by 2030 due to population growth. She stressed the need for labour codes, educational reforms, private investment, tax changes, and tariff reduction. Enhanced ease of doing business and social safety nets were also advised for sustainable development.
Paetongtarn Shinawatra took office as Thailand's prime minister after a royal endorsement, replacing Srettha Thavisin who was ousted by the Constitutional Court. She is the second female and youngest prime minister in Thai history. This political shift involves her family, with her father Thaksin, a controversial figure, returning to the spotlight despite legal challenges.
Karnataka's Congress protested statewide against Governor Gehlot's approval to prosecute Chief Minister Siddaramaiah for the MUDA site allotment 'scam.' Activists accused Siddaramaiah of misusing his position. The Congress described this as a political conspiracy and emphasized the need for large-scale protests. Siddaramaiah denied the allegations and pledged a legal fight.
ReNew Energy Global Plc's shares declined by 6% after announcing an 87% drop in quarterly profit, largely due to revenue losses from sold assets and higher operational costs.
During the week ending August 16, the Sensex gained approximately 1%, with nine penny stocks under a market cap of Rs 1000 crore and priced below Rs 20 rising between 10% and 21%. Significant gainers included Gemstone Investments and PVV Infra, highlighting notable price surges in the range mentioned.
India's flexible workspace market is witnessing significant growth, with firms like Awfis and Smartworks looking to go public to support their expansion plans.
Nifty ended the holiday-shortened week with a 1% gain, powered by IT and consumer durables. Key factors for the upcoming trading week include global cues, Jackson Hole symposium, corporate actions, and FII/DII activities. Analysts project potential upside for Nifty while cautioning about a critical gap at 24,200 that could signal lower levels if breached.
According to the ex-White House Communications Director Anthony Scaramucci, Kamala Harris is pushing hard in the polls race and gaining strong foothold, while Donald Trump could be looking at a major defeat in the upcoming Presidential polls. Here's more on what Scaramucci has claimed.
