Category: Business & Economy

  • Manmohan Singh’s Take on India’s Economy: Critique Before His Passing

    Manmohan Singh’s Take on India’s Economy: Critique Before His Passing

    Manmohan Singh, the former Prime Minister of India who is known for starting important changes in India’s economy, gave an interview in 2019. In this chat, he talked about how he felt the Indian economy was too controlled by the government. He believed that there was too much interference from different groups, even those that are supposed to help keep things fair.

    As Singh spoke, he noticed that India’s economic growth numbers were slowing down. He complained about how the courts were getting too involved in making decisions about the economy and thought that his party, the Congress, would have done things differently.

    Singh, who was Prime Minister from 2004 to 2014, was known for his role in improving the economy. He criticized the current Prime Minister, Narendra Modi, for what he called troubled decisions, like demonetisation (which means taking away certain types of currency). Singh described this move as a planned theft and a misuse of law.

    He also mentioned that people were becoming tired of the same stories and minor changes from the government, saying there was a hidden dissatisfaction among the public against false messages and boasting.

    Although he always encouraged checking and questioning the government’s actions—something important in democracy—he remarked that the Modi government seemed unapproachable and disregarded corruption charges. Singh argued that this government came into power promising to be open and honest, but the level of corruption had only gotten worse over the years.

    Singh believed that demonetisation was one of India’s biggest scams since independence. Sadly, he passed away at the age of 92 at a hospital in Delhi.

  • Indian Stocks to Open Higher; Key Earnings Awaited!

    Indian Stocks to Open Higher; Key Earnings Awaited!

    Indian stocks are likely to start the day a little higher on Friday. Analysts think the main indexes will not move much because there aren’t any big news events as the year ends.

    The GIFT Nifty futures were showing a price of 23,930.5 at 7:47 a.m. IST. This suggests that the Nifty 50 index will open above Thursday’s closing value of 23,750.2.

    Analyst Siddhartha Khemka from Motilal Oswal Financial Services said, “Without big news, the markets will probably stay at similar levels while we wait for the quarterly earnings reports in December. These reports will be important for market direction.”

    He also pointed out that foreign investors have been selling shares continuously. On Thursday, foreign institutional investors sold Indian stocks for the eighth time in a row, totaling roughly 23.77 billion rupees (about $278.83 million).

    India’s stock market took a pause after last week’s drop. The Nifty 50 is currently near its long-term average price, a critical support level.

    The Nifty index has increased by about 0.7% this week after a decline of 5% last week, which was the biggest drop since June 2022.

    Stocks to Watch:
    – Dixon Technologies: Signed a deal with Cellecor Gadgets to make refrigerators.
    – Paradeep Phosphates: Started production again at its ammonia and urea plants in Goa.
    – Gujarat Fluorochemicals: Approved the sale of its power business for 2 billion rupees.
    – Puravankara: Received a warning from India’s market regulator.

  • PayU’s Leadership Changes: Vijay Agicha Resigns, New Growth Plans Ahead

    PayU’s Leadership Changes: Vijay Agicha Resigns, New Growth Plans Ahead

    Vijay Agicha, who was the Chief Investment and Transformation Officer at PayU, has stepped down from his job. People familiar with the situation say he might start working with an investment company to focus on fintech. His resignation comes shortly after Suresh Rajagopalan, the former CEO of Wibmo, another company owned by PayU, also left.

    PayU has seen many leadership changes since it sold its global business to Rapyd, a fintech company from Israel, in August 2023. In September 2023, Laurent Le Moal, who was the global CEO of PayU since 2016, decided to step back from day-to-day operations but will continue as an advisor for both PayU and its owner, Prosus. Anirban Mukherjee took over as CEO in October 2023. During this time, Akash Moondhra, who was the Chief Financial Officer, and Prashanth Ranganathan, the CEO of PayU Finance, also left the company.

    In addition, Bob van Dijk, the CEO of Prosus and Naspers, resigned unexpectedly in September 2023 after being with the company for ten years, and Fabricio Bloisi became his replacement in March 2024.

    Vijay Agicha also serves on the boards of several companies, like BriskPe, DotPe, and Fisdom. Recently, BriskPe secured $5 million in funding from PayU. In India, PayU is working hard to grow its consumer services through the LazyPay mobile app. Although merchant payments are important, the company wants to use LazyPay to create a complete consumer payment and credit service, as mentioned by Mukherjee in a conversation.

    Originally, PayU started as a platform for online merchant payments, but it has now become a full-service fintech provider in India. Their growth strategy has included buying Paysense in 2020, launching LazyPay, and developing fintech solutions through Wibmo, which was acquired in 2019. The key services, LazyPay and Wibmo, continue to operate separately.

    In November, Ervin Tu, president and chief investment officer of Prosus, shared that they plan to list PayU on the Indian stock exchanges in 2025. PayU reported a revenue growth of 11% in India, reaching $444 million in the fiscal year 2024, up from $399 million the year before. On April 24, PayU got permission from the Reserve Bank of India to work as a payment aggregator, allowing them to bring on new merchants

  • Nifty IT Index Update: Top Gainers, Losers, and Trading Highlights

    Nifty IT Index Update: Top Gainers, Losers, and Trading Highlights

    NEW DELHI: On Thursday, the Nifty IT index closed mostly stable. Some companies did well, like Coforge Ltd. (up 1.06%), Persistent Systems Ltd. (up 0.71%), LTIMindtree Ltd. (up 0.47%), and HCL Technologies Ltd. (up 0.21%), which were the top performers. However, other companies saw losses, including L&T Technology Services Ltd. (down 1.31%), MphasiS Ltd. (down 0.76%), Tech Mahindra Ltd. (down 0.37%), Tata Consultancy Services Ltd. (down 0.25%), and Wipro Ltd. (down 0.09%).

    The Nifty IT index ended the day just slightly up by 0.01%, finishing at 43,664.25. The main NSE Nifty50 index went up by 22.55 points, closing at 23,750.2, while the BSE Sensex ended at 78,472.48, up by just 0.39 points. Out of the 50 stocks in the Nifty index, 30 saw price increases, while 20 experienced drops.

    Some of the most traded shares on the NSE included Vodafone Idea, Vishal Mega Mart, Ola Electric Mobility, YES Bank, and Sagility India. Shares of Cube Highways Trust, Gala Precision Engineering, Inventurus Knowledge, Garuda Construction, and International Gemmol reached new 52-week highs today. On the flip side, Vertoz Advertising, Hathway Cable, Odigma Consultancy, Digjam, and Filatex Fashions hit their new 52-week lows.

  • Tata Elxsi: Shares Climb Slightly as Market Sees Decline

    Tata Elxsi: Shares Climb Slightly as Market Sees Decline

    On Thursday, Tata Elxsi Ltd. shares went up by 0.31% and were priced at Rs 6,879.85 around 1:38 PM (IST), while the BSE Sensex fell by 152.34 points to reach 78,320.53. The previous day’s closing price for Tata Elxsi was Rs 6,858.15.

    The company’s stock hit a high of Rs 9,082.90 and a low of Rs 6,285.05 in the past year. According to data from BSE, by 1:38 PM, around 6,936 shares of Tata Elxsi had been traded, totaling Rs 4.74 crore.

    Currently, Tata Elxsi’s shares trade at 52.49 times its earnings from the last twelve months, which was Rs 131.16 per share, and 19.34 times its book value. A higher price-to-earnings ratio means that investors expect the company to grow in the future. The price-to-book ratio shows what investors believe the company is worth even if it isn’t growing quickly.

    The stock’s Beta value, which tells us how much the stock’s price moves compared to the market, is 1.0243. This indicates that the stock is a bit more volatile than the overall market.

    Shareholder Information:
    As of September 30, 2024, Tata Elxsi’s promoters owned 43.91% of the company, foreign institutional investors owned 13.65%, and domestic institutional investors owned 2.0%.

    Technical Analysis:
    The Relative Strength Index (RSI) for Tata Elxsi is at 40.89. The RSI is a tool that measures whether a stock is overbought (above 70) or oversold (below 30). However, it’s important not to rely on just one metric when deciding whether to buy or sell a stock.

  • Pidilite Industries Shares Up 0.99%: Latest Trading Insights & Financials

    Pidilite Industries Shares Up 0.99%: Latest Trading Insights & Financials

    Pidilite Industries Shares Climb on Thursday!
    Pidilite Industries Ltd.’s stock prices went up by 0.99%, reaching Rs 2940.20 during Thursday’s trading. The highest price it hit that day was Rs 2975.00, and the lowest was Rs 2936.70. In the past year, the stock’s highest value was Rs 3414.40, while the lowest was Rs 2490.00.

    By 01:13 PM (IST), there were 3,513 shares traded, amounting to Rs 1.03 crore in total. Just a day before, the stock closed at Rs 2969.75. Over the last month, the stock is down by 2.41%. During the same time, the BSE Sensex, which is a major stock market index, increased by about 1.15%.

    According to market data, Pidilite shares are trading at a price-to-earnings (P/E) ratio of 78.19. This means investors believe the company will grow and are willing to pay more for each rupee of profit it makes. The price-to-book ratio stands at 18.24, showing how much investors think the company’s worth, even if it’s not growing.

    Pidilite operates in the diversified industry. As of September 30, 2024, promoters owned 68.43% of the company, while Foreign Institutional Investors (FII) held 11.96% and Mutual Funds (MF) owned 3.62%.

    In financial results, for the quarter ending September 30, 2024, Pidilite reported sales of Rs 3292.03 crore, which is a decrease of 4.56% from the previous quarter’s Rs 3449.29 crore, but up by 5.93% compared to Rs 3107.63 crore from last year. The company’s net profit was Rs 534.56 crore, which is an increase of 18.75% from the same quarter last year.

  • Airtel and IRCTC Facing Major Service Outages Today!”

    Airtel and IRCTC Facing Major Service Outages Today!”

    On Thursday, many people complained on social media that they couldn’t use Airtel’s mobile and broadband services. A website called Downdetector.in showed that over 2,800 people reported the issue around 10:30 AM. Because of this problem, Airtel users were unable to make calls or use the internet.

    Users shared their frustrations on X, saying their Airtel devices showed ‘No Network’ for a long time. One person from Gujarat wrote, “Airtel Broadband & Mobile Services Are All Down! Everything is gone!” Others were confused and asked if Airtel was down since their Wi-Fi and mobile data stopped working.

    Airtel replied to one of the complaints, saying, “Don’t worry, we can help! Please share your Airtel number in a direct message so we can check on this for you.”

    In a separate issue, the Indian Railway Catering and Tourism Corporation (IRCTC), which handles online train ticketing, also faced problems on Thursday. People couldn’t access its website or mobile app. IRCTC said the outage was due to maintenance work and advised users to try again later.

    This is the second time this month that IRCTC has had problems, worrying regular users. They suggested that if you need to cancel a ticket, you can either call customer care or email their details to get help.

  • Gold & Silver Prices Rise: Get the Latest Updates

    Gold & Silver Prices Rise: Get the Latest Updates

    On Thursday, the price of gold went up! Right now, 24-carat gold costs ₹7763.3 per gram, which is ₹120 more than before. The rate for 22-carat gold is also up, now at ₹7118.3 per gram, also increasing by ₹120.

    In the last week, the price for 24-carat gold changed slightly, down by 0.41%, and in the past month, it dropped by 0.27%. Silver isn’t left behind; it’s currently priced at ₹94,700.0 per kg, which is a ₹300 increase!

    Here’s a snapshot of gold and silver prices in different Indian cities:

    – Delhi:
    – Gold: ₹77633.0 for 10 grams (up from ₹77613.0 yesterday)
    – Silver: ₹94,700.0/kg (up from ₹94,400.0 yesterday)

    – Chennai:
    – Gold: ₹77481.0 for 10 grams (up from ₹77461.0 yesterday)
    – Silver: ₹101,800.0/kg (up from ₹101,500.0 yesterday)

    – Mumbai:
    – Gold: ₹77487.0 for 10 grams (up from ₹77467.0 yesterday)
    – Silver: ₹94,000.0/kg (up from ₹93,700.0 yesterday)

    – Kolkata:
    – Gold: ₹77485.0 for 10 grams (up from ₹77465.0 yesterday)
    – Silver: ₹95,500.0/kg (up from ₹95,200.0 yesterday)

    Looking at the futures market, April 2025 MCX gold contracts are trading at ₹77299.0 for 10 grams, showing a tiny increase of ₹0.471. Meanwhile, March 2025 MCX silver futures are trading at ₹89,600.0 per kg, with a small rise of ₹0.307.

    Gold and silver prices change due to many reasons. Big jewelers, global demands, currency changes, interest rates, and government policies all play a part. Even what’s happening in the world economy and how strong the US dollar is can affect prices here in India.

  • Fertilizer Stocks Shine: Key Market Highlights from Today

    Fertilizer Stocks Shine: Key Market Highlights from Today

    On Tuesday, shares of fertilizer companies had a good day. Fertilisers and Chemicals Travancore Ltd. led the gains, rising by 4.29%. Other companies like Deepak Fertilisers and Rashtriya Chemicals followed, with increases of 2.97% and 2.56%, respectively.

    Some companies, however, saw their shares fall. Agro Phos India Ltd. dropped the most, down by 3.88%. Other losers included Madhya Bharat Agro Products and Nagarjuna Fertilizers, with losses of 2.24% and 1.88%.

    In the broader market, the NSE Nifty50 index ended slightly lower, down by 25.8 points at 23,727.65. The 30-share BSE Sensex also fell, decreasing by 67.3 points to close at 78,472.87.

    Some stock market winners not related to fertilizers included Tata Motors and Adani Enterprises, rising by 1.93% and 1.44%. On the downside, Power Grid Corporation and JSW Steel both dropped more than 1.5%.

  • Bharat Electronics Stock Update: Key Insights for Investors

    Bharat Electronics Stock Update: Key Insights for Investors

    At 11:11 AM on Tuesday, Bharat Electronics Ltd. shares were trading at Rs 294.80, up 0.18%. The BSE Sensex, a major stock market index, fell by 254.79 points to 78,794.96. In the last session, the shares closed at Rs 294.25.

    The shares have seen a high of Rs 340.35 and a low of Rs 171.70 in the past year. So far today, 252,017 shares have been traded, totaling Rs 7.44 crore in sales. Currently, the company’s shares are valued at 47.50 times its earnings of Rs 6.21 per share over the last year, and 9.02 times its book value. This means investors are optimistic about the company’s future growth.

    The stock’s Beta value is 1.4399, indicating it is more volatile than the overall market. This means its price can change more dramatically than most shares.

    Shareholding Information

    As of September 30, 2024, the company’s promoters own 51.14% of the shares. Foreign Institutional Investors (FIIs) hold 17.27%, while Domestic Institutional Investors (DIIs) own 15.81%.

    Technical Analysis

    The stock’s Relative Strength Index (RSI) is 42.73. The RSI scores range from 0 to 100. A score above 70 suggests the stock might be overbought, while a score below 30 indicates it could be oversold. However, it’s important to look at other factors and not just the RSI when deciding to buy or sell a stock.