Delhi's air quality remained 'very poor' on Tuesday, with some areas experiencing 'severe' conditions exceeding 400 on the Air Quality Index (AQI). The Supreme Court questioned the Delhi government about the widespread disregard for the firecracker ban during Diwali, seeking an explanation for the lack of enforcement and plans to prevent a recurrence next year.
India's diesel demand experienced stagnation in October, marking a potential shift in the nation's fuel consumption patterns. This slowdown, attributed to factors like a cooling economy and evolving consumer preferences, raises concerns for the global oil market.
Shares of Embassy Office Parks REIT are in focus as CEO Aravind Maiya was suspended by SEBI for violating compliance norms. Maiya will transition to the role of Head of Strategy for the company. This follows an NFRA ruling that debarred him for 10 years over professional misconduct related to his prior role as an auditor for Coffee Day Enterprises, where lapses in audit standards contributed to a major financial scandal.
The United States is preparing for its Presidential election. Security is high across the country. The National Guard is active or on standby in many states. Some states are using fences, drones, and extra police officers to ensure safety. Some usual voting locations are closed due to security concerns. Citizens are noticing and acknowledging the security measures in place.
We have chosen two schemes from five different equity mutual fund categories - aggressive hybrid, large cap, mid cap, small cap and flexi cap schemes – which we believe should be enough for regular mutual fund investors. There are caveats: read till the end to ensure you are picking up the best scheme for you.
Grasim, currently at Rs 2590.60, signals potential downside with a bearish engulfing candle and weakening momentum. Analysts predict further decline below Rs 2,580, targeting support levels at Rs 2,490 and Rs 2,420. Option data and technical indicators support this bearish outlook, suggesting a Bear Put strategy for potential gains.
HDFC Securities suggests adding IRB Infrastructure Developers shares with a target price of Rs 69. Currently, the share price is Rs 53.63. The company reported a decrease in income and a rise in net profit for the latest quarter. Future orders and increased toll growth are expected to improve the outlook.
This occurrence is often interpreted as a potential bullish signal by traders and investors. Potentially indicating positive sentiment in the market.
As the US election results loom, Indian markets brace for potential volatility. Analysis of market performance under past presidents reveals no clear winner for investors. Experts predict a short-term rally if Trump wins, while a Harris victory suggests continued stability but potential vulnerability for IT stocks.
Over a thousand Canadian Hindus rallied in Brampton, protesting against multiple attacks on Hindu temples during Diwali weekend, including the Hindu Sabha Mandir. They urged Canadian authorities to address the rising 'Hinduphobia' and stop supporting Khalistani extremists, who they blame for the attacks.
Legendary Bhojpuri singer Sharda Sinha, known as 'Bihar Kokila', is currently on ventilator support at AIIMS, Delhi. Her son, Anshuman, shared the news on his YouTube channel, revealing her critical condition. He mentioned that she's been hospitalized for a while and her health deteriorated after his father, Brij Kishore Sinha's demise.
Exide Industries reported a 13.66% decline in Q2 PAT to Rs 233.4 crore, impacted by higher expenses, though revenue grew modestly. Robust demand in the two-wheeler and four-wheeler replacement markets, as well as industrial-UPS and solar, supported growth. Analysts remain bullish, with Nomura maintaining a 'Buy' rating and Citi lowering its target price, citing strong demand and growth potential.
October can often be a volatile month due to various factors like earnings reports and economic data releases. The volatility we've witnessed this October is largely driven by heightened geopolitical tensions, particularly the ongoing conflict in the Middle East.
Citi has reiterated its 'Buy' rating on HDFC Bank, setting a target price of Rs 1,990. HDB has filed for an IPO to meet mandatory listing requirements and raise capital for growth. HDB is a leading, diversified NBFC-UL with a strong AAA credit rating. After the IPO, HDB’s valuation at 3-4x would account for 2.8-4.3% of HDFC Bank’s market capitalization.
The company now expects 2024 revenue in a range of $2.805 billion to $2.809 billion, up from its prior expectation of $2.742 billion to $2.750 billion.
India is demanding the extradition of Canadian Border Security Agency employee, Sandeep Singh Sidhu, alleging his involvement in the 2020 assassination of Shaurya Chakra awardee Balwinder Singh Sandhu. Indian intelligence claims Sidhu, an alleged member of the banned International Sikh Youth Federation, orchestrated the killing with Pakistani ISI support, using Gurjit Singh as a hitman.
NXP provides manufacturers with chips and other technology essential for high-speed digital processing utilized in sectors like automotive, manufacturing, telecommunications and the Internet of Things (IoT).
The Indian market is expected to consolidate on 5 November 2024, following mixed global cues. The Nifty50 index closed below 24,000, indicating potential weakness. Bearish sentiment dominates, with increased call writing and a rising put-call ratio. Experts suggest short-term trading opportunities in stocks like SBI, Info Edge, and Bharat Electronics, recommending buy and sell strategies based on technical analysis.
Chhath Puja 2024 will soon be celebrated by families across North India. The four-day festival honors the Sun God and Chhathi Maiya. People observe fasts and perform rituals at sunrise and sunset. The festival symbolizes gratitude for life and seeks divine protection. Share festive greetings with loved ones using stickers and GIFs on social media platforms.
Axis Securities recommends buying Kotak Mahindra Bank with a target price of Rs 1,916. The current price is Rs 1,741.25. The bank reported positive financial growth in recent quarters. Axis Securities expects growth in advances, NII, and earnings by FY24-27E. Promoters and foreign investors hold significant stakes in the bank.
Foreign investors are becoming increasingly bearish on India’s stock market, withdrawing a record $10 billion in October as signs emerge that the country’s post-pandemic economic growth is slowing. This massive pullback contributed to the benchmark stock index nearing a technical correction. Citigroup warns that continued foreign outflows could weigh on the market's performance in the near term.
The lead-up to this year's festival saw a significant downturn in India's market, with FIIs pulling out $10 billion in October—surpassing even the capital flight during the March 2020 Covid-19 lockdown. The benchmark index experienced its largest monthly decline in over four years. This selling pressure seems far from over, as stock valuations remain high and corporate earnings expectations dim following a series of disappointing results for the September quarter across industries.
