Mahindra & Mahindra stock hit a high of Rs 3,221 on September 27, 2024, but struggled to sustain momentum, facing profit booking at higher levels. It found support around the 100-DMA in October, November, and December. A swift rally after testing the 100-DMA in December helped it reclaim the 21-DMA. The price action indicates a Symmetrical Triangle pattern, with the neckline near the 3,100 level.
A total of 440,310 shares changed hands on the counter till 10:00AM (IST).
The Nifty Bank index was trading 0.55 per cent at 51323.15.
India and China are cautiously rebuilding their relationship, with current economic pressures on both sides fostering a tentative thaw. The countries are looking to boost their economies through increased trade and cooperation, despite ongoing border tensions and strategic differences.
Australia's strong bowling performance reduced India to 107-4 by tea on the first day of the crucial fifth Test. Key players like Virat Kohli and KL Rahul were dismissed early. Rishabh Pant and Ravindra Jadeja are the remaining batsmen, with Pant on 32 and Jadeja on 11. Australia leads the series 2-1.
Prime Minister Narendra Modi will lay the foundation stone for Veer Savarkar College in Najafgarh. This project is part of Delhi University's expansion. The college will cost Rs 140 crore and have state-of-the-art facilities. The naming has sparked political debate, with opposition parties criticizing the move, while BJP leaders have supported it.
President Joe Biden and his family received numerous expensive gifts from foreign leaders in 2023. Jill Biden received a $20,000 diamond from Indian Prime Minister Narendra Modi. These gifts are documented and some are retained for official use. Other gifts were either placed in the National Archives or destroyed as required by federal law.
SHL has signed a long-term variable lease agreement in Hitec City, Hyderabad, to develop an Upper Upscale hotel with 170 - 175 rooms.
Motilal Oswal Financial Services has issued a neutral recommendation on Bata India, targeting a price of Rs 1240. Bata India reported a net profit of Rs 51.98 crore for the latest quarter, with a total income decline of 11.09% from the last quarter, while an increase of 2.36% from the same quarter last year. Promoters hold a 50.
Trinamool National General Secretary Abhishek Banerjee launches the ‘Sebaashray’ programme, providing holistic healthcare to residents in the Diamond Harbour constituency. Covering 23-24 lakh people, the initiative includes free medical services, medicines, and tests. Over the next 75 days, 300 health camps will be held, featuring 1200-1400 doctors addressing various health issues, including eye check-ups and cancer detection.
China is coping with an outbreak of human metapneumovirus (HMPV), along with other viruses such as Influenza A, Mycoplasma pneumoniae, and Covid-19. Hospitals and crematoriums are reportedly overwhelmed. The country's disease control authority is setting up a monitoring system for pneumonia of unknown origin to better handle future outbreaks. Cases are on the rise, particularly among people under 14.
Tesla reported its first drop in yearly deliveries, impacted by high borrowing costs and increasing competition especially from China's BYD. Despite promotions and Musk's focus on self-driving technology, reduced European subsidies and weaker demand for the Cybertruck hindered growth. Deliveries for 2024 totalled 1.79 million, 1.1% lower than the prior year, below estimates of 1.806 million units.
Beijing is signaling readiness to respond to potential tariffs from President-elect Trump, escalating ongoing economic tensions.
January 2 saw significant futures open interest increases for Union Bank, SJVN, RBL Bank, IRB Infrastructure, and Eicher Motors.
Hero MotoCorp reported a 17.5% YoY sales decline for December, with domestic sales falling 22%, but exports rising 91%. Motorcycle sales dropped 15.8%, while scooter sales fell 32.8%. The company sold over 46,662 VIDA V1 e-scooters in 2024. Key 2025 product launches include EV portfolio expansion and new ICE scooter models.
Indian equity indices Sensex and Nifty 50 opened slightly lower on Friday, with notable declines in ITC, TCS, Infosys, ICICI Bank, Zomato, and Tech Mahindra. Conversely, NTPC, SBI, Adani Ports, Nestle India, and Tata Steel showed gains. DMart surged 10% after a strong revenue report, while MOIL rose 6% owing to its best-ever quarterly performance.
Axis Securities has issued a buy recommendation for Hindustan Petroleum Corporation, setting a target price of Rs 544. The current market price is Rs 410. The company, which operates in the Gas & Petroleum sector and has a market cap of Rs 87432.23 crore, reported a net profit of Rs 534.69 crore for the quarter ended 30-09-2024.
RSI values indicate upward momentum for Bajaj Finserv, Ultratech Cement, Infosys, Shriram Finance, and Titan Company stocks.
JK Lakshmi Cement got the approval of its amalgamation plan by the NSE and BSE. The plan involves the merger of three subsidiaries—Udaipur Cement Works, Hansdeep Industries and Trading, and Hidrive Developers and Industries—into JK Lakshmi Cement.
Crypto enthusiasts have high hopes for 2025 as they seek regulatory relief in the US and a strategic Bitcoin reserve. However, restrictive EU rules and Asian utilization of blockchain to counter the dollar's dominance may create challenges. Emerging trends include tokenization of assets and the potential fade of Central Bank Digital Currencies, with traditional banks possibly maintaining control over money.
Puneet Khurana, a businessman, recorded a video before allegedly committing suicide at his Model Town residence. He accused his wife and in-laws of demanding additional money, which he could not pay. He mentioned their mutual divorce terms and additional pressures. Police are investigating the allegations and counter-allegations while examining videos and other evidence.
The Indian market is expected to consolidate on Friday, influenced by muted global cues. The Nifty future closed positively on Thursday, gaining 1.56%. Options data suggests a broader trading range between 23,800 and 24,600, with an immediate range of 23,900 to 24,400. Technical experts recommend holding above 24,100 for an upmove, with support at 24,100 and 23,900.
So, the entire proposition about quick commerce is to kind of appeal to verticals, which are very impulse in terms of purchase behaviour and also drive frequency therein.
According to the Sebi mandate, the large cap mutual funds are mandated to invest in top 100 companies by market capitalisation. Large companies fare better in a volatile market as these companies may be market leaders and resilient to downturns. That is why if you are looking for a relatively safer mutual fund category, you should consider investing in large cap funds.
