Category: Business & Economy

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.

Starbucks baristas, who are part of a workers’ union with over 10,000 members, will go on strike this Friday morning in stores in Los Angeles, Chicago, and Seattle. Their union, called Workers United, has workers in 525 Starbucks locations across the United States. They plan to hold more strikes each day, and by Christmas Eve, they could be striking at hundreds of stores.

The union wants Starbucks to finalize a deal about workers’ rights and pay. In February, Starbucks and the union made a plan to help with organizing and negotiations. They started talking about contracts in April, but Starbucks hasn’t given a good offer yet. The union stated this on Thursday, even though Starbucks had promised to reach agreements by the end of the year.

Starbucks hasn’t replied to the union’s statements. The coffee company is trying to improve its stores under its new leader, Brian Niccol. He wants to make cafes more comfortable, shorten wait times to under four minutes, and make the menu simpler.

Asian stock markets were mostly quiet on Friday after the Federal Reserve (the US central bank) made moves that worried investors. Their stricter stance caused US stocks and bonds to fall but helped raise the value of the US dollar.

In countries like Australia and South Korea, share prices dropped. However, Japan saw a small increase in stock prices as their currency, the yen, lost value. In the US, futures (contracts to buy or sell stocks at a set price) were down after the S&P 500 Index fell slightly, heading for its roughest week since September.

US Treasury yields (interest rates on government bonds) stayed steady after rising on Thursday, reaching 4.57%, which is the highest since May. Meanwhile, the two-year yield fell, creating a larger gap between short-term and long-term interest rates.

Even though Japan’s inflation measure improved for the first time in three months, the yen weakened against the dollar. The Bank of Japan decided to keep interest rates steady and left people wondering if they could raise rates in January.

Recent US economic data showed stronger growth than expected, which means immediate rate cuts might not be necessary. There was an increase in consumer spending and a drop in unemployment claims. Investors are waiting for one more important report, the personal consumption expenditures (PCE) data, that comes out today.

Investor sentiment is cautious, according to Matt Maley from Miller Tabak. If bond markets don’t show signs of improvement soon, we might not see the usual upbeat trading known as the “Santa Claus rally” this holiday season.

In other news, President-elect Donald Trump and House Republicans agreed to prevent a government shutdown and to pause the federal debt limit for two years. The market is still adjusting to the Fed’s new announcements, which suggest they might hold off on cuts next year unless the job market shows weaknesses.

The British central bank (Bank of England) also kept interest rates steady at 4.75%, but markets are now expecting rate cuts in the UK by 2025. In Mexico, the peso held steady after the country’s central bank reduced interest rates again.

Today in Asia, key economic data such as inflation for Malaysia and Hong Kong, and Taiwan’s export orders are expected. There are hints that China might also announce changes to their lending rates.

Infosys and Wipro’s American Depository Receipts (ADRs) saw an increase of almost 3% today, following a positive earnings report from Accenture, an IT services company. As of 8:10 PM IST, Infosys’s ADR was around $23.25, while Wipro’s was at $3.70.

Accenture reported first-quarter sales of $17.7 billion, which was higher than what Wall Street expected. This boost is thanks to more businesses asking for help to use AI tools and improve their work processes. Accenture’s new contracts reached $18.7 billion—up from $18.4 billion last year.

Accenture’s stock also went up by 6.37%, trading at $369.88, an increase of $22.15. The company predicts its sales will grow between 4% and 7% this year, which is slightly less than what analysts had hoped for.

Earlier today, most Indian IT stocks dropped after the US Federal Reserve made some concerning announcements about interest rates and inflation. The Nifty IT index dropped by 1.3%, with LTIMindtree being the biggest loser at 5.3%.

At the close, Infosys shares were at Rs 1,948.50, down by Rs 30.65 or 1.55%, while Wipro ended the day nearly unchanged at Rs 312.75.

(Disclaimer: The views and opinions expressed by experts do not reflect those of NiftyStat.)

Bharti Airtel, a popular telecom company in India, has paid 36.26 billion rupees (which is about $426.4 million) to the Indian government. This payment clears all their outstanding fees related to the spectrum from an auction that took place in 2016. By making this early payment, Airtel is showing that they are committed to settling their debts and keeping a good relationship with the government. This move helps them strengthen their position in the competitive telecom market.

On Thursday, Ashok Leyland Ltd.’s shares went up by 1.88% to reach Rs 218.60 by around 1:56 PM (IST). During the day, the stock climbed as high as Rs 221.60 and dipped to Rs 216.35. The company has a strong return on equity (ROE) of 27.58%, which shows how well it uses its money to generate profits.

By that time, there were active trades with a total worth of about Rs 2.09 crore. Ashok Leyland’s stock has seen highs of Rs 264.70 and lows of Rs 157.65 over the past year.

When we talk about the stock’s Beta value, which shows how much it moves compared to the overall market, it stands at 1.5531, indicating it is more volatile than average.

Regarding ownership, as of September 30, 2024, promoters had no stake in the company, while foreign investors owned 24.2%, and domestic institutional investors held 5.34%.

Looking at the company’s financials, for the quarter ending September 30, 2024, they reported sales of Rs 11,261.84 crore, which is a 4.72% increase from the previous quarter and a 1.76% fall compared to the same quarter last year. The net profit after tax for this quarter was Rs 705.64 crore, which is up 34.15% from the same quarter last year.

Technically, the MACD indicator shows a current bearish trend. This tool helps traders understand whether a stock might go up or down in price. If the MACD falls below a certain line, it suggests that prices may drop.

The Nomura India Investment Fund has recently bought a big chunk of shares in Vishal Mega Mart, which just went public. They spent Rs 324.96 crore, purchasing 3 crore shares at Rs 108.32 each on the National Stock Exchange (NSE). Vishal Mega Mart’s shares hit the market on Wednesday, opening at a higher price than expected—33.3% more at Rs 104 on the NSE and 41% more at Rs 110 on the Bombay Stock Exchange (BSE). By the end of the day, the stock was up by 43.5% from the initial price.

Even though the entire sale was from existing shareholders, many investors showed interest, especially big financial institutions, who bid more than 85 times the available shares. On the other hand, ordinary retail investors were a bit cautious since the sale was entirely from existing investors.

Vishal Mega Mart aims to serve the middle and lower-middle-income groups in India, focusing on areas that lack good retail options. They offer a wide range of products at affordable prices, which helps them attract and keep customers.

Experts believe that because the market is looking better and other factors are in play, the company’s shares could rise by 20-25% from their starting price. Prashanth Tapse, a senior research analyst at Mehta Equities, suggests that cautious investors who got shares should think about selling if prices go up by 25%. Long-term investors might want to hold onto their shares despite any ups and downs in the market. Those who didn’t get shares now could consider buying them if prices fall after the initial excitement fades.

By around 11:20 AM, Vishal Mega Mart’s shares were down by 3.12%, trading at Rs 108.46 on the BSE.

(Disclaimer: The opinions and suggestions from experts are their own and do not represent the views of Niftystat.)

Tata Power Company shares went up by 0.33% to Rs 413.65 during Thursday’s trading, even as the Sensex index (a measure of stock market performance) fell by 828 points to stand at 79,354.12 at 12:12 PM (IST). The stock opened low but bounced back slightly during the session, trading between Rs 413.85 (the highest point) and Rs 406.40 (the lowest).

In the past year, Tata Power’s stock reached a high of Rs 494.85 and a low of Rs 312.60. So far in the day, about 375,488 shares were traded.

The company’s earnings were reported as follows:
– Price-to-Earnings (PE) ratio: 35.26
– Earnings per Share (EPS): Rs 11.72
– Price-to-Book (PB) ratio: 3.89
– Return on Equity (ROE): 11.42

As of December 19, the company’s owners (promoters) held 46.86% of the shares, while Foreign Institutional Investors (FIIs) and Mutual Funds (MFs) owned 9.15% and 9.13%, respectively.

Tata Power is valued at around Rs 132,079.36 crores and works in the Power – Integrated sector. For the quarter ending September 30, 2024, the company reported sales of Rs 16,210.80 crore, which is a 7.58% drop from the last quarter and a 1.13% increase from a year ago. The net profit for the latest quarter was Rs 926.53 crore, up by 5.83% compared to the same period last year.

As for stock performance, the Relative Strength Index (RSI), which helps show whether a stock is overbought or oversold, is currently at 39.65. An RSI above 70 indicates the stock may be too high in price, while below 30 suggests it’s too low. However, analysts warn that this number should not be used alone to make trading decisions. It’s important to look at various factors before deciding to buy or sell.

Shares of Tube Investments of India Ltd. increased by 0.51% to Rs 3730.75 in trading on Thursday. During the day, the stock reached a high of Rs 3735.00 and a low of Rs 3673.00.

Looking at the charts, the average price of the stock over the last 200 days (200-DMA) is Rs 3934.24, while the average over the last 50 days (50-DMA) is Rs 3953.21. If a stock is trading above these averages, it means it’s likely going up. If it’s below both, it’s a sign the stock could go down. If it’s somewhere in the middle, it could go either way.

Additionally, the stock is currently above the “signal line” on a popular tool called the MACD. This tool helps show if the stock might change direction. The MACD looks at two averages—to spot trends—and the signal line helps traders decide when to buy or sell.

The stock’s Relative Strength Index (RSI) is at 49.79. Generally, if a stock’s RSI is over 70, it’s considered overbought (too high), and if it’s below 30, it’s oversold (too low).

On the financial side, the Return on Equity (RoE) for Tube Investments is 23.54%, which looks at how well the company uses its shareholders’ money to make profits. The Return on Capital Employed (RoCE) stands at 16.17%, showing how efficiently the company uses all its capital to earn profits.