K T Rama Rao, BRS Working President, appeared before the Anti-Corruption Bureau for questioning regarding alleged unauthorized payments for the Formula-E race in Hyderabad. Rao emphasized his agenda of making Hyderabad a sustainable mobility hub. The case involves alleged financial irregularities and a loss of Rs 55 crore to the government exchequer.
The stock quoted a 52-week high of Rs 719.80 and a 52-week low of Rs 486.75.
The 30-share BSE Sensex was down 160.59 points at 77987.9
President-elect Trump has raised a record-breaking $170 million for his inauguration, with expectations to exceed $200 million. The funds will cover costs for the oath ceremony, parade, and inaugural balls, with leftover money going towards a future presidential library. Major tech donors have contributed significantly.
IDBI Capital Markets & Securities extended the deadline for bidders to surpass NARCL's Rs 12,000 crore offer for Jaiprakash Associates Ltd to January 14. Companies like Phoenix ARC, Acre ARC, Arcil Arc, and CFM ARC have shown initial interest. Bidders require a minimum net owned fund of Rs 500 crore to qualify.
HDFC Securities has given an 'add' call on Repco Home Finance with a target price of Rs 560 due to several initiatives led by the MD & CEO over the last three years. These initiatives include organizational restructuring, investments in distribution, and a focus on collections and recoveries, likely enhancing future loan growth.
TCS Q3 Results: Emkay Global expects TCS shares to trend sideways to negative, with support at Rs 4,000 and Rs 3,900 and resistance at Rs 4,170-4,280. A buying opportunity is seen in the support band. A short build-up was noted, with open interest at $580 million, below its 1Y mean. Max OI is at Rs 4,200/3,800 strikes, with call and put additions observed.
A total of 6,886 shares changed hands on the counter till 10:10AM (IST)
HSBC has downgraded its rating on India to 'Neutral' from 'overweight', forecasting a Sensex target of Rs 85,990 for 2025. They reduced FY25 earnings growth for Nifty 50 from 15% to 5%, citing unsustainable profit growth and elevated valuations. This may prompt investor re-evaluation in Indian equities.
The stock quoted a 52-week high price of Rs 3893.00 and low of Rs 2380.05.
The Nifty Realty index was trading 1.18 per cent at 1006.45.
The Relative Strength Index of the stock stood at 80.12 on Thursday.
The stock hit a record high of Rs 468 in June 2024 but dropped over 22%, closing at Rs 364 on January 7, 2025. After testing the 89-week EMA in October, it reclaimed the 50- and 21-week moving averages, signalling bullish momentum. With a 30% rise in 3 months, it could reach Rs 400-450 if upward momentum sustains.
The 30-share BSE Sensex was down 159.57 points at 77988.92
Axis Securities recommends Bharti Airtel with a target price of Rs 1,880. Bharti Airtel's current price is Rs 1587.5. The firm reported significant revenue and profit growth. Management plans stable capital expenditure and cost-saving initiatives despite ongoing 5G rollout. Airtel's margins, subscriber growth, and 4G conversions are driving the positive outlook.
Andhra Pradesh Chief Minister Chandrababu Naidu held a review meeting following the Tirupati stampede that killed six people. He assured measures to prevent such incidents in the future and will visit the temple to assess the situation. Ex-gratia will be provided to victims' families, and arrangements are made for smooth 'darshan' token distribution.
On the options front, the maximum Call Open Interest (OI) is positioned at the 24,000 strike, followed by the 24,100 strike. Meanwhile, the maximum Put OI is concentrated at the 23,500 strike, with additional positioning at the 23,000 strike.
PSU-themed mutual funds have seen negative returns of up to 12% in the last three months, with six funds reporting losses. The Quant PSU Fund, launched in February 2024, saw the largest decline at 11.58%. Other funds like CPSE ETF, Aditya Birla SL, Invesco India PSU, and ICICI Pru PSU also posted significant losses during this period.
LA Fire: Wildfires in Southern California have wreaked havoc, causing widespread destruction, evacuations, and health concerns. The Palisades Fire has become the most destructive in Los Angeles history, while multiple other blazes continue to grow, exacerbated by Santa Ana winds. Thousands of homes have been destroyed, and over 100,000 residents have been forced to evacuate. Authorities are investigating the causes of the fires, with climate change and human activity likely playing a role.
Despite this potential challenge, the EU aims to continue engaging with the U.S. while preparing its national climate plan for the U.N. summit in November.
Bangladesh's interim regime under Muhammad Yunus is believed to be pardoning Al Qaeda affiliate Major Zia, involved in high-profile murders and a failed coup. He has sought exoneration while Bangladesh's ex-PM Khaleda Zia has left for medical treatment in London amid allegations of political maneuvering.
US Congressman Lance Gooden has questioned the Department of Justice's indictment of Gautam Adani and others, suggesting it could harm US-India relations. He urged allowing Indian authorities to investigate the case, highlighting the potential political motives behind the indictment's timing and possible impacts on investments and international relations.
Roopa, 50, seeks guidance from ET Mutual Funds to allocate Rs. 15 lakhs for her son’s education over the next 3 years. With a focus on safety and steady growth, she aims for low to moderate-risk investments. Girirajan Murugan from FundsIndia suggests Debt Funds for stability, with possible equity exposure for more flexible goals and longer timeframes.
