Category: Business & Economy

Recently, six mutual funds focused on Public Sector Undertakings (PSUs) have not been doing well. In fact, they lost up to 12% in the last three months! The Quant PSU Fund, which is new and started in February 2024, lost the most—around 11.58%. Other funds like the CPSE ETF lost about 10.14%, while Aditya Birla SL PSU Equity Fund and ICICI Pru PSU Equity Fund had losses of 8.55% and 6.80%, respectively.

Many people are asking: Why are these funds struggling? An expert named Rajesh Minocha explained that the reasons include market corrections, global uncertainty, and people taking profits after stocks went up. He suggests that instead of jumping onto the latest trendy funds, investors should look at flexible funds like flexi-cap and multi-cap options.

Even though PSU funds have not been performing well lately, they can still be important for long-term investments, especially in sectors like infrastructure, energy, and defense, which are supported by the government. Minocha advises investors to focus on quality PSUs that have strong fundamentals and growth potential.

Currently, PSU funds are seeing average returns of around -7.87% over the last month. Invesco India PSU Equity Fund saw the biggest drop, losing about 8.72%.

For those invested in these funds, Minocha recommends being cautious. He doesn’t think investors should panic, but it’s wise to avoid putting too much money into one area. Keeping a balanced investment portfolio and watching for budget announcements can help in finding new opportunities or risks.

Minocha also emphasizes that investors should not focus on short-term gains but instead think about long-term investments. Staying invested for a longer time is key to making money.

In 2024, PSU funds had a great year, thanks to strong financials and a focus on infrastructure by the government. This created a lot of interest in PSUs.

Looking ahead to the upcoming budget, Minocha believes there will be a big focus on selling off parts of PSUs to boost resources, along with spending in energy, railways, and defense. He believes these steps are aimed at making PSUs more efficient and aligning them with India’s long-term growth plans.

To invest in these funds, it’s important to have a long-term plan or a good understanding of the sector. It’s crucial to avoid making quick decisions based on short-term trends.

The stock market ended slightly down on Wednesday after a busy day, as investors held back before the earnings reports come out and worried about slower economic growth. Some stocks caught attention:

– Delta Corp: This stock went up by 3%. It’s showing early signs of bouncing back from a key support level of Rs 110. If it stays strong, it could rise further to Rs 120 and Rs 124. A solid base at Rs 104 acts like a safety net.

– Waaree Energies: This stock went down by 3%. It’s trading close to a major support level of Rs 2675. If it breaks below this, it might drop to Rs 2500. However, if it holds above Rs 2675, it could rebound to Rs 2850 and Rs 3000. Keep an eye on how it performs at Rs 2675.

– Tata Technologies: This stock fell below the important level of Rs 883, which shows it’s struggling. If the stock keeps dropping, it might decline to Rs 850 and Rs 825. It’s important to set a stop-loss at Rs 920 to protect against unexpected rises.

Prataap Snacks, a company that makes snacks, has announced that Authum Investment & Infrastructure and Mahi Madhusudan Kela want to buy a part of the company. They plan to buy up to about 62.98 lakh equity shares, which is 26.01% of Prataap Snacks, for Rs 865.66 each. This offer includes a cash price of Rs 864 per share and an interest amount of Rs 1.66 per share.

After the news came out, Prataap Snacks’ share price increased by 3.04%, closing at Rs 1,181 on the National Stock Exchange (NSE). The total value of Prataap Snacks is about Rs 2,800 crore. Authum Investment & Infrastructure, a registered non-banking financial company (NBFC) founded in 1982, is valued at Rs 32,265 crore.

Mahi Kela is known as the wife of famous investor Madhusudan Kela. This offer follows India’s regulations for purchasing shares from public shareholders. If more shareholders want to sell their shares than the offered amount, then the shares will be accepted proportionately, meaning not everyone may get their shares sold.

The Competition Commission of India (CCI) approved this acquisition back in December. However, Prataap Snacks has faced challenges, with its share price dropping by 1.2% in the last year, while the Nifty index has gained 10%. On a positive note, over the last six months, Prataap Snacks has performed better than Nifty, increasing by 32%, while Nifty has lost some value.

Piers Morgan, a well-known TV presenter, has left News Corp, the company owned by Rupert Murdoch. He decided to focus more on his YouTube channel called “Piers Morgan Uncensored,” which has 3.63 million subscribers and over 1,500 videos. On this channel, he shares strong opinions and interviews with interesting people.

Even though Piers has left, Rupert Murdoch will still have a share in the YouTube channel until 2029.

In other news, News Corp just decided to sell its Australian TV business called Foxtel to a British sports company named DAZN for A$3.4 billion (which is about $2.1 billion in U.S. money). With this deal, News Corp will get a spot on DAZN’s board and own 6% of the company. DAZN will also get the rights to show Australian Football League and National Rugby League games. This move shows how News Corp is trying to focus on different parts of its business as streaming has changed the media world.

Analysts believe that Foxtel did not perform as well as other News Corp businesses, but they think the price for Foxtel is surprisingly good.

ICICI Bank has just signed a lease for a large office space in Navi Mumbai, taking up four floors in a commercial building. This space covers more than 1.3 lakh square feet and ICICI Bank will use it for over nine years.

The bank made four separate agreements with a company named Arihant Superstructures, which will let them use about 32,284 square feet on each floor. They will pay Rs 58 for every square foot monthly, making the total yearly rent about Rs 9 crore. Plus, every three years, the rent will increase by 14%. They also have a lock-in period of 18 months, which means they can’t leave the lease early.

ICICI Bank has already paid a security deposit that is equal to six months’ rent as the lease started on December 15. An interesting part of the lease is that ICICI Bank will enjoy 8 months without paying rent: 4 months during the first year and 4 months in the last year.

This news comes just after HDFC Bank also leased space in another Navi Mumbai building, which is 8 stories tall and covers 4 lakh square feet, for a long-term lease of 10 years.

Navi Mumbai has become a hot spot for businesses because it has great planning, affordable office spaces, and good connections to Mumbai and nearby areas. Many IT and banking companies are growing in places like Vashi, Turbhe, and Airoli.

The demand for office space in the banking and finance sectors is increasing quickly. In 2024, the amount of office leases is expected to be even higher than in 2023 because of better technology, more digital business, a skilled workforce, and changing market needs.

NEW DELHI: Several stocks jumped more than 10% on the BSE, as India’s main stock market indexes, the BSE Sensex and NSE Nifty, had a mixed day on Wednesday. The standout stocks that saw big gains included Visaka Industries (up 13.96%), Integrated Technologies (up 13.79%), and Parsharti Investments (up 12.95%). Others that also performed well were CreditAccess Grameen (up 12.70%), Airan Limited (up 11.28%), Suven Life Sciences (up 10.93%), Vivanza Biosciences (up 10.00%), and Zee Learn (up 10.00%).

At the end of the trading day, the 30-share Sensex was down by 50.62 points, closing at 78,148.49 points. The 50-share Nifty index dropped 18.96 points, ending at 23,688.95 points. Out of the stocks in the Nifty 50 index, 23 went up while 27 went down.

Additionally, several stocks like Parsharti Investments, Ashapura Minechem, ABM Knowledge, Pokarna Limited, and Sundaram-Clayton reached their highest prices in 52 weeks. On the other hand, stocks such as Silverpoint Infratech, Moongipa Capital, Baid Leasing, Rana Sugars, and U H Zaveri hit their lowest prices in 52 weeks during today’s trading.

NEW DELHI: On Wednesday, several companies saw their stock prices reach new highs! Ashapura Minechem, Pokarna Ltd, Ami Organics, Anant Raj, and Mazda Ltd all celebrated hitting fresh 52-week highs during trading on the NSE (National Stock Exchange). Meanwhile, the Nifty index fell by 18.96 points, closing at 23,688.95 because some bigger companies faced selling pressure.

On the flip side, stocks like Spacenet Enterprise, Rana Sugars, Baid Leasing, Odigma Consultancy, and Digjam hit their lowest points in 52 weeks. Out of the 50 companies in the Nifty 50 index, 23 saw their share prices go up, while 27 went down.

Some of the biggest winners in the Nifty 50 included ONGC, TCS, RIL, ITC, and Asian Paints. Sadly, Apollo Hospital, Trent, Shriram Finance, Bajaj Auto, and UltraTech Cement didn’t do so well and ended in the red.

The BSE Sensex also fell, closing down 50.62 points at 78,148.49. Traders were optimistic, buying stocks in sectors like General, IT Services, Auto, and Apparel. However, there was selling in sectors such as Cables, Mining, Education, Defence, and Textiles during the day.

In Mumbai, many stocks dropped more than 5% during trading on Wednesday. This happened as the BSE Sensex fell by 50.62 points to settle at 78,148.49, with investors selling off some major company stocks.

Some of the biggest losers included:
– Silverpoint Infratech: down 13.52%
– Bharat Immunological: down 11.04%
– DMR Hydroengineering: down 10.06%
– Multipurpose Trading & Agencies: down 9.80%
– PM Telelinks: down 9.24%

On the Nifty index, 23 stocks did well, while 27 stocks struggled. Nifty closed down by 18.96 points at 23,688.95.

Several stocks hit new 52-week lows, including:
– Silverpoint Infratech
– Moongipa Cap
– Baid Leasing
– Rana Sugars
– U H Zaveri

At the same time, some stocks reached fresh 52-week highs, such as:
– Parsharti Invst
– Ashapura Minechem
– ABM Knowledge
– Pokarna Ltd
– Sundaram-Clayton

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In Wednesday’s stock market session, mining shares had an interesting day. Here are some of the winners and losers:

Top Gainers:
– Ashapura Minechem Ltd. jumped up by 9.64%!
– Pokarna Ltd. rose by 7.08%.
– Oriental Trimex Ltd. was up 4.78%.
– Coal India Ltd. gained slightly by 0.15%.
– NMDC Ltd. went up by 0.05%.

Top Losers:
– KIOCL Ltd. fell by 2.83%.
– Aro Granite Industries Ltd. dropped 2.74%.
– Sandur Manganese & Iron Ores Ltd. decreased by 2.50%.
– 20 Microns Ltd. fell by 1.87%.
– Madhav Marbles & Granites Ltd. was down 1.66%.

Overall, the NSE Nifty50 index closed at 23,688.95, down by 18.96 points, and the BSE Sensex ended at 78,148.49, down by 50.62 points.

In the Nifty pack, some top gainers were:
– Oil and Natural Gas Corporation Ltd. up by 2.98%.
– Tata Consultancy Services Ltd. increased by 1.99%.
– Reliance Industries Ltd. also went up by 1.99%.

However, some stocks fell too, like:
– Apollo Hospitals Enterprise Ltd., which dropped 3.96%.
– Trent Ltd. down by 2.55%.
– Bajaj Auto Ltd. decreased by 1.91%.

Overall, it was a mixed day for the stock market!