Author: Supriya Jena

  • MobiKwik Shares Slide After Big Debut: Key Insights and Tips”

    MobiKwik Shares Slide After Big Debut: Key Insights and Tips”

    Shares of One MobiKwik Systems dropped by 5.7% on Friday, closing at Rs 510.30 on the BSE. This drop happened as investors took profits after the stock jumped 37% in just two days following its debut on Dalal Street. MobiKwik listed on the stock exchange on Wednesday at a price that was 58.5% higher than its initial price of Rs 279. The stock started at Rs 442.25 and had impressive gains, reaching a peak of Rs 605 before falling back down on Friday.

    The company’s initial public offering (IPO) was valued at Rs 572 crore and was oversubscribed by 119 times, showing strong interest from investors. People were excited about MobiKwik’s move towards profitability and the increasing popularity of digital payments. The money raised will be used to improve their financial services, boost AI and machine learning, and enhance their payment systems.

    Shivani Nyati, who is the Head of Wealth at Swastika Investmart, shared that MobiKwik’s ability to stay profitable and stand out in the competitive fintech market will determine if they can keep growing. She advised investors to consider taking profits now, but for those who want to stay invested, it’s smart to set a stop loss at around Rs 400.

    Founded back in 2008, MobiKwik serves over 161 million registered users and 4.26 million merchants as of June 2024. They offer a variety of services like digital payments, credit, and investment products. The company is the largest player in India’s PPI wallet sector, holding 23.11% of the market.

    Notable investors like Bajaj Finance, Abu Dhabi Investment Authority (ADIA), and American Express have stakes in the company, owning 13.44%, 2.8%, and 1.76% respectively.

  • Ashwin Retires: Cricket Legend Shocks Fans with Sudden Announcement!”

    Ashwin Retires: Cricket Legend Shocks Fans with Sudden Announcement!”

    On Wednesday, rain helped India draw the third Test match against Australia in Brisbane. But the biggest surprise came when star player Ravichandran Ashwin, aged 38, announced his retirement from international cricket right after the match.

    Ashwin revealed this shocking news during a press conference alongside captain Rohit Sharma, despite two more matches left in the Border-Gavaskar Trophy. He had been left out of the first Test, which India won, and played in the second Test, which India lost. He was again dropped for the Brisbane Test that ended in a draw.

    As the news spread on social media, fans, players, and experts shared their love and respect for Ashwin. Former Indian cricketer Abhinav Mukund also wrote a heartfelt tribute about Ashwin on ESPNCricinfo, recalling their childhood cricket days in Chennai.

    Mukund shared a funny story about how both players played in an under-12 tournament. He remembered scoring his first-ever century while Ashwin was injured and acting as the scorer. “I celebrated after reaching 90 runs and then heard applause later. I realized the scorer had made a mistake with the numbers!” Mukund said.

    He reflected, “At the time, I thought Ashwin was done with cricket due to his injury and would focus on studies. Little did I know he’d become a cricket legend!”

    Ashwin’s retirement marks the end of an amazing career. Many consider him one of the greatest cricketers ever. He played a key role in India’s victories in the 2011 ODI World Cup and the 2013 Champions Trophy. After starting cricket at just nine years old, Ashwin was coached by Chandrasekar Rao in his early days. He has already left Australia and returned to Chennai, planning to play in the IPL 2025 for CSK next

  • Mazagon Dock Stock Surges: What You Need to Know!”

    Mazagon Dock Stock Surges: What You Need to Know!”

    Shares of Mazagon Dock Shipbuilders have bounced back after hitting a low around Rs 3,870. The stock then climbed over its previous high of Rs 4,900. In July, it reached a new peak at Rs 5,860 but then dropped about 51%, landing near that support level again. However, since November, Mazagon Dock’s stock is showing strong signs of recovery.

    Technical analyst Rajesh Bhosale from Angel One explains that the stock has been moving positively for two months. After falling from its top price of Rs 5,780 to around Rs 3,830, it has managed to stay above a key level that could indicate a return to rising prices.

    On the weekly chart, the stock is showing a pattern of “higher highs” and “higher lows,” suggesting that it might keep going up. Bhosale predicts a rally towards its previous high of Rs 5,780, with resistance around Rs 5,500. The recent low of Rs 4,740, which is close to the 20-day EMA, is an important support level to watch.

    Defense stocks have been recovering lately, and Mazagon Dock has shown a strong rebound after finding solid support near its 100-day EMA. The stock has just broken out of a tight range while staying well above its 20-day EMA, and it’s getting close to reaching its all-time high again.

    On the technical side, the stock is above its important moving averages, which shows positive momentum.

    Ajit Mishra, SVP of Research at Religare Broking, advises traders to position themselves wisely, suggesting they should buy on any dips, with a stop loss set at Rs 4,750. He sees potential targets of Rs 5,530 and Rs 5,800 for the stock.

    Disclaimer: The views expressed by the experts are their own and do not represent the views of Niftystat.

  • Google Cuts 10% of Managers to Boost Efficiency and Compete

    Google Cuts 10% of Managers to Boost Efficiency and Compete

    Google is making more changes to be more efficient and compete with other companies in the growing field of Artificial Intelligence (AI). CEO Sundar Pichai told employees in a meeting that 10% of managers, including directors and VPs, have lost their jobs. This means many people in leadership positions have had to say goodbye.

    This isn’t the first time Google has reduced its workforce. For the last two years, the company has been working to streamline its operations. The latest layoffs happened recently, with some managers being moved to other roles while others were let go completely.

    Pichai kicked off these changes back in 2022 when he shared plans to make Google 20% more efficient. Last year, over 12,000 employees were affected by earlier job cuts.

    During the latest meeting, Pichai talked about something called “Googleyness.” He wants employees to think about what it means to be part of Google. He said “Googleyness” had become too vague, so he simplified it. Now, it’s about important values like working towards a mission, being creative, and working well with others. He also mentioned the importance of creating helpful products and taking smart risks.

    Google’s restructuring is part of a bigger trend in the tech industry, as companies like Amazon are also trimming their management teams to enable individual workers to take more initiative

  • Body Found in Box with Ransom Demand Shocks Andhra Pradesh Family

    Body Found in Box with Ransom Demand Shocks Andhra Pradesh Family

    In Yandagandi, Andhra Pradesh, a strange and scary thing happened. A family received a box late at night, and when they opened it, they found the dead body of a 45-year-old man. What’s more surprising is that inside the box was a letter asking for a huge amount of money—over Rs 1 crore!

    This strange delivery happened at the family’s house, which is still being built. The police, led by District Superintendent Adnan Nayeem Asmi, are now investigating what happened and trying to find out more details. They revealed that the box was brought to the home of a man named S Tulasi by a driver in an autorickshaw.

    The police are working hard to uncover more information about this shocking event. People are scared and curious about what is going on in their community.

  • Falling Stock Prices: Is It a Good Time to Invest?”

    Falling Stock Prices: Is It a Good Time to Invest?”

    A while ago, a big company in the industry launched its initial public offering (IPO) for one of its smaller companies. Many people wanted to buy shares, so much that the offer was oversubscribed. When the stock started trading, it opened at a higher price than expected. Everyone wanted to buy the stock because this group was known for doing good business and making profits.

    However, today the situation is different. The stock price has dropped a lot due to a shaky and falling market. Now, people can buy it at a much lower price. Despite all the talk about big businesses and trustworthy leaders, the market can change quickly

  • Supreme Court Reaffirms Alimony Limits for Wives in Divorce Cases”

    Supreme Court Reaffirms Alimony Limits for Wives in Divorce Cases”

    The Supreme Court has decided that a wife cannot ask for alimony just to balance the wealth between her and her husband during a divorce. The court said that a husband shouldn’t have to support his wife at the same level of wealth he has if he becomes more successful after they separate. The judges, Justices B.V. Nagarathna and Pankaj Mithal, explained that marriages are sacred and should not be seen as business deals.

    The judges pointed out that some women misuse laws that are meant to help them, using them instead to threaten or exploit their husbands. They emphasized that laws protecting women must not be used in a way that harms their husbands or families.

    In a recent case, the court ended a marriage because it could not be saved. In this situation, the husband was ordered to pay his ex-wife Rs 12 crore as permanent alimony, settling her claims. The court raised concerns about people making serious complaints just to get money, which leads to quick arrests of husbands and their family members, including older people who may be unwell.

    The couple was involved in several legal battles during their short marriage and had not lived together continuously. The wife claimed her husband was worth Rs 5,000 crore and demanded money based on that. The court said that alimony shouldn’t be about making one partner as wealthy as the other.

    The judges asked whether the wife would still want equal payments if the husband lost all his money after their divorce. The court confirmed that setting the alimony amount is tricky and depends on many factors, not just the couple’s wealth.

    Initially, the husband agreed to pay Rs 8 crore for a divorce. A family court suggested Rs 10 crore, and the Supreme Court increased it to Rs 12 crore so the wife could buy a new home. The court also canceled all criminal complaints that the wife had made against her husband.

  • Mirae Asset Fund Updates: New Exit Load Changes Explained

    Mirae Asset Fund Updates: New Exit Load Changes Explained

    Mirae Asset Mutual Fund is making changes to the exit load for some of its investment plans. This means they are adjusting how long investors have to wait before they can sell their fund units without paying extra fees. Here’s what you need to know:

    Affected Funds: The changes involve five funds: Mirae Asset Balanced Advantage Fund, Mirae Asset Multi Asset Allocation Fund, Mirae Asset Equity Savings Fund, Mirae Asset Midcap Fund, and Mirae Asset Flexi Cap Fund.

    Effective Dates: These changes will start on January 1, 2025, for most funds, while changes for the Mirae Asset Gold ETF Fund of Fund will begin on December 24, 2024.

    What Changes Are Happening?

    1. Mirae Asset Balanced Advantage Fund & Mirae Asset Multi Asset Allocation Fund:
    – Old Exit Load Period: 365 days.
    – New Exit Load Period: 180 days.
    – If you sell your units within 180 days, you’ll pay a 1% fee. If you wait longer, there’s no fee.

    2. Mirae Asset Equity Savings Fund:
    – Old Exit Load Period: 365 days.
    – New Exit Load Period: 90 days.
    – If you sell within 90 days, it’s a 1% fee. No fee if you wait longer.

    3. Mirae Asset Midcap Fund & Mirae Asset Flexi Cap Fund:
    – The rules remain the same: you pay a 1% fee if you sell within 1 year.

    4. Mirae Asset Gold ETF Fund of Fund:
    – If you sell within 3 months, the fee is 0.50%. After 3 months, it’s no fee.

    These changes will kick in for all new investments starting from the effective dates. Also, the launch date for the new Mirae Asset Small Cap Fund has changed: it will now open on January 10 and close on January 24.

  • Bharat Electronics Ltd.: Strong Sales Growth and Rising Shares

    Bharat Electronics Ltd.: Strong Sales Growth and Rising Shares

    NEW DELHI: The shares of Bharat Electronics Ltd. were trading up by 0.72% on Friday around 11:06 AM (IST). About 121,040 shares changed hands. The stock opened at Rs 298.00 and reached a high of Rs 301.95 and a low of Rs 297.25 during the day.

    Bharat Electronics shares have been as high as Rs 340.35 and as low as Rs 163.95 in the past year. The total market value of the company is Rs 2,19,366.46 crore right now.

    Company Performance

    For the quarter ending on September 30, 2024, Bharat Electronics reported total sales of Rs 4,762.66 crore. This is up by 7.09% from the previous quarter (Rs 4,447.15 crore) and 14.87% from the same time last year (Rs 4,146.12 crore). The company’s net income for this quarter was Rs 1,092.45 crore, a big jump of 38.4% compared to a year ago.

    Share Ownership

    As of September 30, 2024, domestic institutions owned 15.81% of Bharat Electronics, while foreign institutions held 17.27%, and the promoters owned 51.14% of the company.

    Stock Details

    According to NiftyStat data, the stock has a price-to-earnings (P/E) ratio of 48.32, which means investors are willing to pay more because they expect the company to grow. The price-to-book ratio is 9.02, showing how much investors believe the company is worth, even if it is not growing much at the moment. Bharat Electronics Ltd. operates in the Defence Contractor industry.

  • KPI Green Energy: New Projects & Bonus Shares Announced

    KPI Green Energy: New Projects & Bonus Shares Announced

    KPI Green Energy is making headlines today because it has signed an important agreement with the Rajasthan government. This deal is to build projects that combine solar and wind power in a place called Jaisalmer, Rajasthan. The Rajasthan government will help the company get the permits and approvals it needs to start these projects smoothly.

    In a different update, KPI Green Energy has set Friday, January 3, 2025, as the date to check which shareholders can receive bonus shares. This means that for every two shares someone owns, they will get one additional share for free, but first, they need to get approval from the shareholders through a vote.

    This will be the third time the company has given out bonus shares. They previously did this in February 2024 (1 bonus share for every 2 shares) and in January 2023 (1 bonus share for every share).

    Analysts are positive about KPI Green Energy’s stock. They say the average target price is Rs 1,100, suggesting that the stock could go up by 44% from where it is now. One analyst even recommends it as a “Strong Buy.”

    The company’s stock has done really well, rising 71% over the last year and 60% this year. However, it has dropped by 15% in the past six months and is down by 4% in the last three months.

    (Disclaimer: Opinions and views mentioned are from experts and might differ from Economic Times.)