Category: Business & Economy

NEW DELHI: On Wednesday, many stocks saw big increases of more than 10% on the BSE (Bombay Stock Exchange). This happened as the two main stock market indicators, BSE Sensex and NSE Nifty, were doing well, especially with top companies doing great. The stocks that jumped by over 10% include Indo Amines (up 13.38%), Bang Overseas (up 13.23%), Niva Bupa Health Insurance (up 12.77%), HEG (up 11.21%), Wonderla Holidays (up 10.99%), Vippy Spinpro (up 10.55%), Zim Laboratories (up 10.51%), and Syschem (India) (up 10.17%).

The 30-share Sensex rose by 332.03 points to reach 81,177.78, while the 50-share Nifty index went up by 89.4 points to hit 24,546.55. In the Nifty 50 index, 29 stocks went up in value, while 21 stocks fell. Some stocks like Venmax Drugs & Pharmaceuticals, Bang Overseas, Niva Bupa Health Insurance, HEG, and Delton Cables reached their highest values in the past year. Meanwhile, Grandma Trading, Capital Small Finance Bank, Sanwaria Consumer, Amarnath Securities, and Aki India hit their lowest points in a year.

On Wednesday morning, sugar company shares were doing well. Bannari Amman Sugars Ltd. saw a big boost, rising by 5.22%. Other companies like EID Parry and Sakthi Sugars also increased, with gains of 2.15% and 0.95%, respectively.

A few companies did not perform as well. Balrampur Chini Mills saw a drop of 3.15%, and Simbhaoli Sugars fell 2.13%.

At around 10:09 AM, the NSE Nifty50 index was up by 100.25 points, reaching 24557.4. The BSE Sensex was up 378.35 points, sitting at 81224.1.

In other news, companies like SBI Life Insurance and HDFC Life Insurance were among the top gainers, both increasing by around 2%. However, some companies like Cipla and Bharti Airtel saw their shares decline.

A new report from the State Bank of India (SBI) says that consumer prices in India will likely stay above 5% for the rest of 2024. Even though vegetable and protein prices went down a lot in November, food prices are still high because people in rural areas are still buying a lot of food.

The report points out that in rural areas, food is a big part of what people spend their money on. This means that food prices may stay high for a while. In October, the retail inflation rate was 6.21%, which is more than what the Reserve Bank of India (RBI) wants, which is 6%. This jump in inflation is mainly because of rising food prices, which have increased sharply over the past three months.

The report also mentions that around 40% of India’s inflation is influenced by imported goods. This makes it harder for the RBI to raise interest rates because it wants to keep inflation down. On top of that, government programs that give money directly to people have helped rural families buy more essential goods, as their income has improved.

However, even though the rural economy is strong, it can’t make up for the drop in spending in cities. Urban consumers are spending less because they no longer have the extra savings they built up during the pandemic.

In summary, the Indian economy is in a mixed situation. Rural areas are doing okay, which helps with inflation, but city spending is still lagging behind.

Brokerages are feeling positive about JSW Infrastructure, GAIL India, and Supreme Industries. They see strong growth opportunities and good value in these stocks.

JSW Infrastructure: Investec has recommended buying shares of JSW Infrastructure with a target price of Rs 370, which means a potential rise of 15% from the current price of Rs 321. They believe that this company can grow its revenue significantly because of strong demand for its services over the next few years. The growth is expected from more cargo being handled at their new terminal and help from the JSW Group. The government’s push for privatizing ports also opens up new chances for the company. Also, JPW’s long-term contracts give it a solid outlook for the future. Even though the stock is priced higher than some others, Investec thinks it’s worth it due to the company’s strong growth potential.

GAIL India: Jefferies has rated GAIL India as a good buy, with a target price now at Rs 235, which gives a potential 17% rise from the current price of Rs 200. Jefferies believes that the demand for gas in India will remain strong, thanks to new local sources, LNG contracts, and better pipeline connections. They think GAIL can grab a bigger share of the gas transmission market once two new pipelines start working in FY26. If GAIL can increase prices soon, their business could see a boost. The expected earnings growth looks good too, making the stock appealing.

Supreme Industries: Jefferies has also given a buy rating for Supreme Industries, setting a target price of Rs 6,450, suggesting a potential rise of 35% from the current price of Rs 4,763. The company is expecting to sell over 20% more products soon due to seasonal demand and new projects. They also plan to increase their production capacity by 13% by March 2025. Additionally, a recent price rise in PVC (a key material for their products) gives Supreme Industries a brighter outlook. Jefferies sees this company as a solid choice in plumbing, agriculture, and infrastructure, predicting strong earnings growth in the coming years.

(With insights from NiftyStat)

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times.)

Exciting news! Abha Power and Steel’s shares will begin trading on the NSE SME platform this Wednesday. Before they start trading, the shares are priced at around Rs 75, with a good chance of a profit of about Rs 15 in the grey market, which means they might open with a 20% increase! However, remember that grey market prices can change quickly and are not a sure sign of real value.

The company raised Rs 38 crores from its SME IPO, which saw a lot of interest, being 18 times oversubscribed, mainly by small investors. They plan to use the money to upgrade their manufacturing facilities in Bilaspur, Chhattisgarh, and to manage their daily business expenses.

Abha Power and Steel is located in a resource-rich area in central India, focusing on making iron and steel products. They create a wide range of goods, from small parts weighing 0.5 kg to big ones that are 6 tonnes! The company has special certifications to supply its products to Indian Railways and other major organizations, ensuring their quality.

This past year, despite a 6% drop in sales, the company saw a fantastic 170% increase in its profit after tax. This shows that they are doing well even when facing challenges!

Today marks the opening of the Nisus Finance Services IPO! It will be available for you to buy shares until December 6. The company wants to raise ₹114 crore by selling shares on the NSE SME platform. Here are 10 important things you should know before you decide to invest:

1. What’s the Size of the IPO?
The IPO includes new shares worth ₹101 crore and an offer for sale of 7 lakh shares.

2. Price of Shares
You can buy shares for ₹170 to ₹180 each. You have to buy them in lots of 800 shares.

3. GMP (Grey Market Premium)
The shares are trading in the unlisted market at a premium of ₹50, which is around 28% more than the IPO price.

4. About Nisus Finance Services
Nisus Finance is involved in giving financial advice and managing funds. The company and its subsidiaries focus on money management for real estate and urban projects.

5. Investment Trends
Many investments in the industry go into unlisted shares and debt instruments, with significant amounts also in listed shares.

6. Company Financials
As of June 2024, Nisus Finance earned ₹13.58 crore in total revenue and made a profit of ₹8.3 crore.

7. Why is the IPO Being Offered?
The money raised will help improve services, get more licenses, manage facilities, and support fund activities in locations like Gandhinagar, Dubai, and Mauritius.

8. Who is Managing the IPO?
Beeline Capital Advisors is the lead manager, and Skyline Financial Services is the registrar for this IPO.

9. Who Can Buy?
Almost half (50%) of the shares are for institutional investors, 35% for regular people like you, and 15% for smaller investors.

10. Key Dates to Remember
The IPO opened on December 4 and closes on December 6. Results for who gets shares will be announced on December 9, and shares might start trading on December 11.

(Disclaimer: The opinions shared here are those of the experts and do not necessarily reflect the views of Niftystat.)

Amazon recently revealed new artificial intelligence tools at its big AWS conference in Las Vegas. These tools, called foundation models, let users create text, images, and videos easily. This move puts Amazon in competition with companies like Adobe and Meta, which are also offering cool AI services to help customers.

During the conference, Amazon’s CEO, Andy Jassy, shared that developers had many wishes for AI improvements. They wanted faster results, lower costs, and better ways to customize the tools. With these new offerings, Amazon aims to shake off opinions that it was slow to develop AI technology while others rushed ahead.

One exciting feature is called Nova Reel, which lets people make short videos, like six seconds long, perfect for showing products on Amazon. Soon, users will be able to create videos that last up to two minutes. People in the entertainment industry are eager to use these tools to speed up filmmaking.

However, there are concerns about whether these AI systems might steal ideas from other creators. Amazon also introduced Canvas, a tool that makes images from short text descriptions. Jassy assured users that they will include watermarks to ensure the content is used safely and responsibly.

Other new features will help people quickly analyze and process text as well. Overall, these tools are designed to make creative work easier and more efficient.

Have you ever thought about where to put your money to help it grow? If you want a low-risk option, Ultra Short-Term Funds might be just what you need! Let’s break it down simply:

What are Ultra Short-Term Funds?
These are types of mutual funds that invest in safe and short-term government securities or bonds. They usually last from a few days to a year.

Why Choose Ultra Short-Term Funds?
– Low Risk: They are safer than regular stocks because they invest in government-backed securities.
– Quick Access: You can take your money out whenever you need it, making it a flexible choice.
– Better Returns: They often give you slightly better returns than keeping your money in a savings account.

Understanding Ultra Short-Term Funds: A Smart Way to Invest Your Money

Have you ever thought about where to put your money to help it grow? If you want a low-risk option, Ultra Short-Term Funds might be just what you need! Let’s break it down simply:

What are Ultra Short-Term Funds?
These are types of mutual funds that invest in safe and short-term government securities or bonds. They usually last from a few days to a year.

Why Choose Ultra Short-Term Funds?
– Low Risk: They are safer than regular stocks because they invest in government-backed securities.
– Quick Access: You can take your money out whenever you need it, making it a flexible choice.
– Better Returns: They often give you slightly better returns than keeping your money in a savings account.

How Do They Work?
These funds gather money from many investors and use it to buy short-term debt securities. Professionals manage these funds, and they know how to make smart choices.

Who Should Invest?
Ultra Short-Term Funds are great for:
– People looking to save money for short-term goals.
– Those who want to earn more than a savings account but still keep risks low.

In Conclusion
Ultra Short-Term Funds can be a smart option if you’re looking to invest your money safely and get some growth. Always remember to research and talk to a financial expert if you’re unsure!
These funds gather money from many investors and use it to buy short-term debt securities. Professionals manage these funds, and they know how to make smart choices.

Who Should Invest?
Ultra Short-Term Funds are great for:
– People looking to save money for short-term goals.
– Those who want to earn more than a savings account but still keep risks low.

In Conclusion
Ultra Short-Term Funds can be a smart option if you’re looking to invest your money safely and get some growth. Always remember to research and talk to a financial expert if you’re unsure!

Recently, Tesla’s CEO Elon Musk made headlines after a judge decided that he shouldn’t get his $56 billion pay package. This ruling came even after Tesla shareholders voted to support Musk’s pay in June.

The legal battle started when a shareholder questioned Musk’s 2018 compensation package, designed to reward him only if Tesla did really well. Musk’s pay included 12 sets of stock options that could eventually give him a big chunk of the company. He wouldn’t get a regular salary—if Tesla succeeded, he would earn through stock options.

In January, a judge named Kathaleen McCormick rejected Musk’s huge pay package, saying it wasn’t fair to shareholders and that the Tesla board didn’t really have control over Musk’s payments. Many believed Musk didn’t need that extra pay since he was already making a lot from Tesla’s success.

Musk reacted by suggesting people shouldn’t incorporate their companies in Delaware if they want shareholders to have more control. Instead, he recommended states like Nevada or Texas.

After the June vote, where shareholders approved Musk’s pay once again, the judge still stood by her earlier decision, saying that a vote can’t change a ruling made by the court. She insisted that the compensation negotiations were swayed by Musk himself, even though he didn’t own most of Tesla.

Now, there are possibilities for Tesla’s board: they could appeal the judge’s ruling, create a new pay package, or consider settling the lawsuit for a smaller payment to Musk.