Category: Business & Economy

Gold prices went up on Friday! Right now, 24-carat gold costs ₹8,080.3 for one gram, which is ₹550 more than yesterday. If you prefer 22-carat gold, it’s priced at ₹7,408.3 per gram, up by ₹500.

Price Changes Over Time:
– In the last week, the price for 24-carat gold changed by -0.59%.
– Over the last month, it dropped by -2.65%.

Silver is Rising Too!
Silver is currently priced at ₹98,700.0 per kilogram, an increase of ₹2,000.

Prices in Different Cities:
– Delhi: Gold is at ₹80,803.0 for 10 grams, up from ₹80,123.0 yesterday, and ₹79,653.0 last week. Silver is ₹98,700.0/kg today, compared to ₹95,500.0 yesterday.
– Chennai: Gold costs ₹80,651.0 for 10 grams today, up from ₹79,971.0 yesterday. Silver here is more expensive: ₹105,800.0/kg, up from ₹102,600.0.
– Mumbai: Gold is ₹80,657.0 for 10 grams, greater than yesterday’s ₹79,977.0, and last week’s ₹79,507.0. Silver is at ₹98,000.0/kg today.
– Kolkata: Gold costs ₹80,655.0 for 10 grams, up from ₹79,975.0 yesterday. Silver is ₹99,500.0/kg today.

Futures Market:
Gold for June 2025 is at ₹81,175.0 for 10 grams, stable at this price. Meanwhile, silver for May 2025 is ₹94,305.0 per kg, slightly lower by ₹0.471.

Factors That Matter:
Gold and silver prices are influenced by many things, like the demand in the market, currency exchange rates, interest rates, and government policies. Also, how the global economy and the strength of the US dollar affect prices here in India.

On Friday, ICICI Lombard General Insurance Company Ltd. saw its shares trading at Rs 1955.90 on the Bombay Stock Exchange (BSE). This was down by 2.5% from the previous day’s closing price. The stock has reached a low of Rs 1381.10 and a high of Rs 2285.85 in the last year.

The company’s shares opened lower in the morning, with 7,312 shares traded by 10:00 AM. ICICI Lombard’s total market value stood at Rs 96,385.83 crore. The stock’s price-to-earnings (P/E) ratio was 43.31, and its price-to-book value ratio was 6.80. The return on equity (ROE) was 15.72%, which means the company is generating healthy returns for its investors.

Within the BSE500 index, 118 stocks were doing well (trading in the green), while 373 stocks were not performing well (trading in the red). The stock’s beta value, which shows how much it goes up and down in comparison to the market, is 0.6375.

As of September 30, 2024, promoters owned 0% of ICICI Lombard, while foreign investors owned 24.75% and domestic institutional investors held 14.91%.

Looking at moving averages, the 200-day moving average (200-DMA) was at 1887, and the 50-day moving average (50-DMA) was at 1881.65. If a stock is trading below both these averages, it usually means a bearish trend. But if it’s trading between the two, it could go either way.

Shares of Havells India are likely to catch attention on Friday, January 17, after the company shared its Q3 earnings for FY25. The net profit showed a small drop of 1.7% compared to last year, reaching Rs 283 crore, down from Rs 288 crore in Q3FY24. On a positive note, the company’s net revenue grew by 11%, reaching Rs 4,883 crore, up from Rs 4,401 crore during the same period last year.

Breaking it down by segments:
– Switchgears grew by 10.8% to Rs 577 crore.
– Cables increased by 7.3%.
– Lighting & Fixtures saw a growth of 2.5%.
– Electrical Consumer Durables surged by 15%.
– Other segments rose by a substantial 22.8%.

Additionally, Havells announced an interim dividend of Rs 4 per share for its shareholders, with the record date set for January 22.

Here’s what some brokerages are saying after the company’s update:

UBS: Buy | Target Price: Rs 2,145 | Upside Potential: 37.7%
UBS keeps a “Buy” rating on Havells, setting a target price of Rs 2,145. They noted that weak consumer demand might impact earnings.

JPMorgan: Neutral | Target Price: Rs 1,750 | Upside Potential: 12.4%
JPMorgan maintained a “Neutral” rating due to earnings below expectations caused by margin pressures. They observed muted growth in the Cables & Wires segment due to soft copper prices.

Nuvama: Buy | Target Price: Rs 1,940 | Upside Potential: 24.5%
Nuvama holds a “Buy” rating with a target price of Rs 1,940. They mention that Havells showed good revenue growth, but higher employee and operational costs affected profits.

Stay tuned, as more companies like Wipro and Jio Financial are also announcing their Q3 results today!

On January 17, HFCL shares are in the spotlight after the company won a big project worth about Rs 2,501.30 crore. This money is for building and taking care of a telecom network called BharatNet Phase III in Punjab. They received the contract from Bharat Sanchar Nigam Limited (BSNL).

The project will involve designing, supplying, constructing, installing, upgrading, operating, and maintaining the network. HFCL will follow a method called Design, Build, Operate, and Maintain (DBOM) to complete the work in three years. After that, they will take care of the network for another ten years, with costs expected to be 5.5% of the project’s cost for the first five years and 6.5% for the next five years.

Here’s how the money is broken down: Rs 1,244.61 crore is for building costs (capital expenditure), Rs 746.76 crore for operating costs for the new network, and Rs 509.94 crore for maintaining the current network.

Stock Performance and Technical Indicators
Currently, the HFCL stock has been facing some tough times, dropping by 26% in the last three months. However, over the last two years, it has managed to rise by 40%. Right now, the company’s market value is Rs 14,773 crore.

Looking at its technical indicators, the stock’s Relative Strength Index (RSI), which measures how overvalued or undervalued it is, stands at 38.7. Generally, an RSI below 30 means a stock is oversold, while above 70 indicates it’s overbought. The MACD reading is -5.6, suggesting the stock is bearish right now.

Also, HFCL shares are trading below several key averages, meaning they are currently not doing too well compared to past performances.

LTIMindtree’s shares will be important on Friday, January 17, after the company shared its earnings for the last quarter. Here’s what you need to know:

– Profit Drop: For the quarter ending December 31, 2024, LTIMindtree’s net profit fell by 7.1%, reaching Rs 1,085 crore compared to Rs 1,169 crore last year.
– Revenue Growth: The company’s revenue grew by 7.1% to Rs 9,661 crore in this quarter, up from Rs 9,017 crore in the same period last year. But, when compared to the previous quarter, the profit after tax fell by 13.2% from Rs 1,251 crore.
– Dollar Revenue: LTIMindtree earned $1,138.7 million, showing a small increase of 1.1% from the last quarter and a bigger rise of 5.1% compared to last year.
– Operating Margin: The earnings before interest and taxes (EBIT) margin was at 13.8%, but this dropped by 170 basis points from the previous quarter, mainly due to wage increases.

Positive Outlook: Global investment firm Macquarie still rates LTIMindtree as ‘Outperform’ with a target price of Rs 7,100. They believe that despite some challenges, including problems with a top client, the company has potential for growth, especially as demand is expected to rise in 2025.

LTIMindtree’s CEO Comments: Debashis Chatterjee, the CEO, mentioned, “We have recorded our highest-ever order inflow of USD 1.68 billion, thanks to our investments in AI and new partnerships. This gives us a strong path for growth as we move into 2025.”

Segment Revenue Details:
– Banking, financial services, and insurance brought in 36.4%.
– Technology, media, and communications contributed 23.7%.
– Manufacturing & resources gave 19.3%.
– The consumer business made up 14.3%.

HDFC Securities has a “sell” recommendation for Aditya Birla Fashion and Retail (ABFRL), setting a target price of Rs 235. Currently, the stock is trading at Rs 273.6. ABFRL was founded in 2007 and is a large company with a market value of Rs 29,183.83 crore. They sell clothing, home goods, and accessories.

For the quarter ending September 30, 2024, ABFRL reported a total income of Rs 3,695.41 crore, which is a 6.32% increase from the previous quarter and a 12.93% rise from the same time last year. However, they reported a net loss of Rs 214.70 crore this quarter.

The management team includes well-known figures like Mr. Kumar Mangalam Birla and Ms. Preeti Vyas. The company’s auditor is S R B C & Co. LLP. ABFRL has 107 crore shares available for investors.

HDFC Securities predicts that ABFRL’s revenue will grow by 12% year-over-year to Rs 36.6 billion. They expect strong performance from brands like Madura and Pantaloons, predicting 9.7% and 12% growth, respectively, in Q3. The brokerage is estimating a 14.4% profit margin in Q3FY25, up from 13.3% in Q3FY24.

HDFC forecasts the company’s earnings per share (EPS) for the next few years to be Rs 39.3 for FY24, Rs 37.4 for FY25, and Rs 55.5 for FY26. They also expect the price-to-earnings (PE) ratio to be 88, 92, and 62 in those years, respectively.

As of September 30, 2024, the promoters own 49.25% of ABFRL, foreign institutional investors (FIIs) own 19.68%, and domestic institutional investors (DIIs) own 14.72%.

New Delhi: Today, on Thursday at 2:08 PM, shares of Voltas Ltd. were up by 1.99%. About 15,270 shares were traded at that time. The stock started the day at ₹1,637.70 and reached a high of ₹1,650.75 and a low of ₹1,574.25.

Voltas Ltd. has a 52-week high of ₹1,946.20 and a low of ₹989.35. According to Niftystat, their market value is ₹52,802.59 crore.

Company Performance

In the latest financial report, Voltas earned ₹2,724.58 crore in sales for the quarter that ended on September 30, 2024. This is a decrease of 45.52% from the previous quarter when they made ₹5,001.27 crore. However, compared to last year, this is an increase of 15.27% from ₹2,363.73 crore. The company’s profit for this quarter was ₹133.99 crore, which is a huge leap of 265.29% from the same quarter last year.

Ownership Details

As of September 30, 2024, different groups hold shares in Voltas. Domestic Institutional Investors have 24.36%, Foreign Institutional Investors have 18.08%, and the company’s promoters own 30.3%.

Stock Valuation

The shares are currently priced with a P/E ratio of 95.27, which shows that investors expect strong future growth. The price-to-book ratio is 6.27, suggesting that investors value the company even if it doesn’t grow right away.

Voltas Ltd. operates in the Air Conditioner industry.

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On January 16, 2025, Adani Group’s stocks went up by as much as 9% during trading. This happened after Hindenburg Research, a US firm known for short selling, announced it was shutting down. Nathan Anderson, the founder, said he wanted to focus more on his personal life and saw Hindenburg as just a part of his past.

Anderson mentioned that their work led to about 100 people, including rich billionaires, being charged by regulators. He felt they made some important changes in the business world.

Adani Power saw the biggest increase, rising 9.2% to nearly ₹600 per share. Other companies in the Adani Group also had strong gains: Adani Enterprises was up 7.7%, Adani Green Energy jumped 8.8%, and Adani Total Gas increased by 7.1%. Adani Energy Solutions rose 6.6% while Adani Ports went up 5.4%. Other boosts included Ambuja Cements, which gained 4.5%, ACC at 4.1%, and NDTV increased by 7%.

Earlier, Hindenburg had accused the Adani Group of serious issues like accounting fraud and stock manipulation, claiming losses totaling around ₹18 trillion (about $218 billion). They also said the head of India’s Securities and Exchange Board, Madhabi Puri Buch, had conflicts due to her past investments in Adani. Both the Adani Group and Buch denied these accusations.

On Thursday, United Spirits Ltd. shares went up by 0.22% to Rs 1415.00 at 1:07 PM IST, while the BSE Sensex dropped by 305.26 points to 77029.34. The stock closed at Rs 1411.85 the day before.

Currently, the share has a 52-week high of Rs 1700.00 and a low of Rs 1055.65. By 1:07 PM IST, 6350 shares were traded, totaling Rs 0.91 crore.

At the current price, United Spirits shares have a P/E ratio of 72.45, which shows investors are optimistic about future growth, and a price-to-book value of 11.55, indicating how much investors are willing to pay for the company even if it doesn’t grow.

The stock’s Beta value is 1.0639, meaning it is slightly more volatile than the overall market.

Shareholding Information
As of September 30, 2024:
– Promoters own 0.79% of the company.
– Foreign Institutional Investors (FIIs) hold 16.11%.
– Domestic Institutional Investors (DIIs) own 11.4%.

Technical Insights
The Relative Strength Index (RSI) for the stock is 29.55. The RSI ranges from 0 to 100, with values above 70 indicating the stock may be overbought and below 30 suggesting it may be oversold. However, experts say it’s important to look at other factors too.

Today, shares of Canara Bank went up by 2.85% around 11:11 AM (IST). The stock started the day at Rs 96.15 and reached a high of Rs 98.20 before dropping to a low of Rs 96.10. In the last year, the highest price for the stock was Rs 129.35, and the lowest was Rs 87.75. So far, about 926,798 shares have been traded.

In the larger market, the Nifty50 index was up by 74.75 points at 23,287.95, and the BSE Sensex gained 217.84 points, reaching 76,941.92. Out of 50 stocks in the Nifty group, 31 were doing well, while 19 were not.

Looking at Canara Bank’s financial results for the quarter that ended on September 30, 2024, the company reported total sales of Rs 38,006.05 crore. This is 2.81% more than the previous quarter’s sales of Rs 36,965.75 crore and 12.14% higher than the same time last year