Recent News

Tanushree Jaiswal || In early trades on Thursday, the Asian markets were trading sharply lower following losses in the US markets. Among the key triggers for the market on Thursday is the gist of the Fed minutes announced late on July 05, 2023. What the Fed June minutes actually said? Here are five key points made in the minutes of the June Fed meet, published on July 05,2023; which is exactly 21 days after the Fed meeting. Here are the key points. • If you go by the minutes of the US Fed, they see the policy tightening not only a

Tanushree Jaiswal || American chip maker Micron Technology recently announced its plan to invest around $825M in a new chip assembly and test facility in India. This facility will be located in Gujarat and will be Micron's first factory in the country. With support from the Indian government and the state of Gujarat, the total investment in the factory is expected to reach approximately $2.75 billion. The facility will cost $2.75 billion — Micron will invest $825 million, 50 percent will come from the Central government, and 20 percent from

Tanushree Jaiswal || Tata Consultancy Services (TCS) and Nest, the UK's largest workplace pension scheme, have entered into an expanded partnership worth £840 million ($1.1 billion) for an initial tenure of 10 years, with a potential total value of £1.5 billion if extended for the full 18-year term. The collaboration between Tata Consultancy Services (TCS) and Nest is focused on the digital transformation of Nest's scheme administration services, with the ultimate goal of enhancing the experiences of its members. TCS has been working with N

Tanushree Jaiswal || In a significant development, Elon Musk, the CEO of Tesla, has confirmed that the company is poised to make a substantial investment in India. Musk made the announcement following a meeting with India's Prime Minister, Narendra Modi, during the leader’s state visit to the United States. The discussions primarily focused on Tesla's plans to establish a manufacturing base in India, tapping into the country's potential for sustainable energy, including solar power, stationary battery packs, and electric vehicles. Musk also

Tanushree Jaiswal || On Door Concepts Ltd was incorporated in the year 2014 as an e-commerce website catering to the needs of grocery and home essentials. It used to handle the order collation and the delivery and fulfilment of the goods ordered. The company, later, also opened its first store in Bhopal and has since expanded its network to 55 stores across various cities in Madhya Pradesh in the last 8 years. Currently, out of the 55 stores, a total of 17 stores are owned and operated by the company, while the remaining 38 stores are operated

Tanushree Jaiswal || WomanCart IPO opens for subscription on 16th October 2023 and closes for subscription on 18th October 2023; both days inclusive. WomanCart Ltd has a face value of ₹10 per share and is a fixed price issue, with the IPO price already set at ₹86 per share. The IPO of WomanCart Limited will only have a fresh issue component and no offer for sale (OFS) portion. As part of the fresh issue portion, WomanCart Limited will issue a total of 11,12,000 shares (11.12 lakhs), which at the fixed IPO price of ₹86 per share aggregates to a

Tanushree Jaiswal || Premium listing for Plada Infotech Services IPO, then hits lower circuit Plada Infotech Services Ltd had a strong listing on 13th October 2023, listing at a premium of 22.92%, but subsequently the stock came under pressure and hit the -5% lower circuit on the listing price. Of course, the stock closed comfortably above the IPO issue price but it surely closed below the IPO listing price for the day. Overall, the markets did come under pressure with the Nifty closing 43 points lower and the BSE Sensex closed 126 points lo

Tanushree Jaiswal || Sharp Chucks And Machines IPO lists higher, then trends lower Sharp Chucks And Machines IPO had a moderate to strong listing on 12th October 2023, listing at a premium of 13.79%, but subsequently the stock came under pressure and trended lower below the listing price. Of course, the stock closed comfortably above the IPO issue price but it did close below the IPO listing price for the day. Overall, there was a moderately negative close for the markets as the Nifty closed 17 points lower while the Sensex closed 65 points

Tanushree Jaiswal || Avenue Supermarts, the parent company of the renowned retail chain DMart, recently released its Q2 earnings report, after the result on Monday stock dipped over 4% in in opening session. Avenue Supermarts reported consolidated revenue of ₹12,624 crore, marking a substantial increase from the previous year's ₹10,638 crores. Revenue grew by 6.4% from ₹11,865 crore in the June-ended quarter. However, the company's net profit declined by 9% year-on-year (YoY) to ₹623 crore, down from ₹686 crore in the same quarter of the pre

Tanushree Jaiswal || In early trade on October 16, Ashok Leyland, India's largest bus manufacturer, received a boost in its stock price, after securing an order for 1,666 buses from the Tamil Nadu state transport undertakings (TN STUs). As a result, the stock was trading at ₹176.55 on the National Stock Exchange at 2.00 p.m., marking a half percent increase from the previous day's closing price. This positive development occurred even as the broader equity benchmarks, the Nifty and the Sensex, were trading lower. Ashok Leyland has long been

Tanushree Jaiswal || Delta Corp, a prominent casino chain in India, is grappling with a severe financial crisis. On October 16, the company's shares plummeted by 10% on the Bombay Stock Exchange (BSE), reaching a new 52-week low of ₹126 per share. This sharp decline was triggered by a recent notice from the Goods and Services Tax (GST) authorities, demanding an additional payment of ₹6,385 crore as a tax shortfall from its subsidiary, Deltatech Gaming. Tax Troubles Multiply Delta Corp's subsidiary, Deltatech Gaming, received an intimation

Tanushree Jaiswal || In stock markets 'bonus' refers to the free additional shares a company gives to its existing shareholders and 'bonus ratio' specifies the number of additional shares shareholders will receive for every share they own in a particular company. Bonus ratio also gives you a clear picture of how many additional stocks you will receive for each stock you hold in a company. For Example, a 1:1 bonus ratio means, you will get 1 extra share for each share and a 2:1 ratio gives you two bonus shares for every share you own. It's

Tanushree Jaiswal || For the week commencing on 22nd April 2023, there are 8 NFO or new fund offerings of mutual funds available for investors. These funds range from a wide spectrum of equity, debt, and multi-asset funds. Here is a quick look at the eight funds available for subscription this week. Baroda BNP Paribas Value Fund This fund comes from the house of Baroda BNP Paribas Mutual Fund. This NFO is a pure equity open ended fund with the objective of generating long-term capital appreciation from a diversified portfolio o

Tanushree Jaiswal || HDFC Mutual fund will launch its new fund offering (NFO) of the proposed HDFC Defence Fund on 19th May 2023. Subscription to the NFO will close on 02nd June 2023 and once the allotment is completed, the fund will be available for NAV related sale and repurchase at NAV related prices. Highlights of the HDFC Defence Fund Here are some of the stand out features of the proposed NFO of HDFC Defence Fund. • The fund will invest in defence and aerospace stocks as well as in allied sectors. It will benchmark to the N

Tanushree Jaiswal || It is a known fact that FPIs have been major sellers in Indian equities since October 2021. In fact, between October 2021 and June 2022, the FPIs had sold equities to the tune of $33 billion. There has been some respite in the second half of 2022 but FPIs are back to their selling ways in 2023. However, the flows from mutual funds were exactly in contrast. For instance, mutual funds have infused Rs1.8 trillion into equities on a net basis in FY22 and an equivalent amount in FY23 too. That is seriously quite a lot and it act

5paisa Research Team || The COVID pandemic was almost like a turning point for the economy and the markets. It is now exactly over 3 years since the Nifty and Sensex made a bottom around the last week of March 2020 and started the post-COVID recovery. A lot has changed in the Indian markets since then. For starters, the equity markets have rallied to new highs and have held there despite bouts of corrections. Foreign portfolio investors started investing with a bang and infused billions of dollars into India in the post COVID scenario. However,

Shreya Anaokar || On 13th October 2023, HDFC Life announced its quarterly results. Key Highlights: - Individual APE up by 9% to Rs.4478 crores in H1FY24. - The first-year premium registered a growth of 6% at Rs.2,566 crore. - New Business Premium (NBP) (Individual and Group) has grew by to Rs.12,970 crores in H1FY24 - Net Premium income stood at Rs. 14797.21 crores - Profit after Tax (PAT) was at Rs.792.1 crores for H1FY24. - VoNB increased by 10% to Rs.1411 crores for H1FY24. Business Highlights: - Retail protection re

Shreya Anaokar || On 12th October 2023, HCL Technologies announced its quarterly results. Key Highlights: - The company reported revenue from operations at Rs. 26,672 crore, up by 8% YoY. Revenues in CC terms grew by 2.5% YoY and 2.3% QoQ - Profit before tax for the quarter ended September 30, 2023 was Rs.5128 crores - Profit after tax for the quarter ended September 30, 2023 was Rs.3833 crores. - Large deal TCV for the quarter was $ 3969 million, with net new of 48%. - Attrition at 14.2%. Segment Highlights: - Industr

Shreya Anaokar || On 12th October 2023, Infosys announced its quarterly results. Key Highlights: - The company reported revenue from operations at Rs. 38,994 crore, up by 6.72% YoY. Revenues in CC terms grew by 2.5% YoY and 2.3% QoQ - Profit before tax for the quarter ended September 30, 2023 was Rs.8768 crores, up by 4.49% YoY. - Profit after tax for the quarter ended September 30, 2023 was Rs.6215 crores, up by 3.14% YoY. - Large deal TCV for the quarter was $7.7 billion, with net new of 48%. - Attrition declined further to 14.6%.

Shreya Anaokar || On 12th October 2023, HDFC AMC announced its quarterly results. Key Highlights: - The company reported revenue from operations at Rs. 643.08 crore, up by 18.06% YoY. - Profit before tax for the quarter ended September 30, 2023 was Rs.588.09 crores as compared to Rs.492.85 crores for the quarter ended September 30, 2022, up by 19.32% YoY. - Profit after tax for the quarter ended September 30, 2023 was Rs.436.52 crores as compared to Rs. 363.85 crores for the quarter ended September 30, 2022, up by 19.97% YoY. Bu

Tanushree Jaiswal || In a rather low-profile move, the RBI has decided to officially withdraw the ₹2,000 notes from the currency circulation. This will be effective from 30th September 2023. Between March 23, 2023 and September 30, 2023, the RBI will offer a special window for the people holding these ₹2,000 currency notes to either exchange their notes or deposit these notes into the bank account. Banks will offer this window only up to September end and after that the ₹2,000 note cannot be either exchanged or even deposited in any of the comm

5paisa Research Team || The Indian rupee is going through its worst crisis yet. On Tuesday, it sunk to its lowest yet, going below the psychologically crucial mark of 80 to the US dollar. The rupee went as low as 80.05 to the dollar, before it was helped back up by some intervention from the country’s central bank. The Reserve Bank of India pumped some US dollars into the currency markets to steady the currency slightly after it went down for the seventh consecutive trading session. Is the Indian rupee the only one that has been falling

5paisa Research Team || The income tax rebate limit increased from Rs 5 lakh to Rs 7 lakh under the new tax regime. On 1 February 2023, Finance Minister Nirmala Sitharaman presented the Union Budget for 2023-24, the budget involved changes in the tax slabs for the new tax regime. For people earning Rs 0 to 3 lakhs the tax rate is 0%, for people earning Rs 3 – 6 lakhs the rate is 5%, for people earning Rs 6 – 9 lakhs the rate is 10%, for people earning Rs 9 – 12 lakhs the rate is 15%, for people earning Rs 12 – 15 lakhs the rate is 20% and, f

5paisa Research Team || Here is what the union budget has offered for the healthcare and metal industry. Finance Minister Nirmala Sitharaman, on Wednesday, February 01, 2023, announced during the Union Budget session of 2023 the upcoming development in the Healthcare and Metal sector and informed the house that around 157 new nursing colleges are to be established in the core locations across the country this will make quality care accessible to a larger population. The budget also focuses on launching a new program to promote research in

5paisa Research Team || In her fifth Union Budget speech, FM Nirmala Sitharaman announced a mega capex plan of Rs 10 lakh crore for FY 2023-24, which is 33% higher than the budget estimate of Rs 7.5 lakh crore for 2022-23. Markets started with positive expectations heading into the budget as strong buying was witnessed across the broader market, with many stocks hitting fresh 52-week highs. However, a strong sell-off in the Adani Group stocks dented market sentiment as Nifty plunged over 500 points from the day’s high to slip below the 17,40

5paisa Research Team || In the Union Budget, Finance Minister Nirmala Sitharaman announced the highest-ever capital outlay for railways of Rs 2.4 lakh crore, which is nine times the amount of FY14. Significant gains in financial services and banking stocks helped Indian headline indices start on a brighter note. In the session's opening trades, broader indices outperformed main indices. While the Nifty 50 experienced a significant rally, the benchmark BSE Sensex crossed the critical 60,000 level. At 3:15 pm, the BSE Sensex surged 0.44%, r