Category: Business & Economy

On Tuesday, the Indian stock market ended on a positive note. The Nifty 50 index gained thanks to two big companies, HDFC Bank and Reliance Industries. Also, U.S. Federal Reserve officials hinted at a possible interest rate cut of 0.25% later this month, which made investors hopeful.

The S&P BSE Sensex rose by 597.67 points (0.74%) and closed at 80,845.75. Meanwhile, the Nifty 50 index went up by 181.10 points (0.75%) to finish at 24,457.15.

Market Insights:

Vinod Nair from Geojit Financial Services said that the stock market is getting stronger, driven by good global news. People are now looking for signs of growth in the economy, especially since the recent weak economic data is already reflected in company earnings. Right now, everyone’s focused on what the Reserve Bank of India (RBI) will say about interest rates and liquidity.

Banking stocks saw the biggest gains because they are sensitive to interest rates, while metal stocks did well due to higher import taxes and better manufacturing data from China.

What’s Happening in the U.S. and Europe:

In the U.S., stock prices were down early Tuesday after hitting record highs. Investors were uncertain if stocks are too expensive. However, AT&T shares jumped 4.8% after announcing $40 billion in returns to shareholders.

In Europe, Germany’s DAX surpassed 20,000 points for the first time. Markets in Paris bounced back despite political issues in France. The euro gained strength against the dollar, as more interest rate cuts from the Federal Reserve are expected.

Tech Analysis:

The Nifty started strong but had some ups and downs before closing positively at around 24,457. Hrishikesh Yedve from Asit C. Mehta said that the Nifty showed strength on the daily chart, hinting at a potential upward trend. If it goes above 24,550, it could reach 24,700 to 24,800. As long as the Nifty stays above 24,300, buying on dips is a good strategy.

Most Active Stocks:

– Top Stocks by Value: Punjab National Bank (Rs 121.57 crore), Power Grid Corp (Rs 106.43 crore), Adani Green Energy (Rs 95.52 crore).
– Top Stocks by Volume: Vodafone Idea (28.36 crore shares), YES Bank (15.02 crore shares), Suzlon Energy (9.11 crore shares).

Stocks Showing Buying Interest:

Shares of HEG, Graphite India, and Torrent Power were popular among buyers.

52-Week Highs and Lows:

Over 251 stocks hit their highest prices in 52 weeks, while 13 fell to their lowest. Some high-flyers included Garware Technical Fibres and KEC International.

Market Sentiments:

The overall mood in the market was positive. Out of 4,067 stocks traded, 2,704 went up, 1,261 went down, and 102 stayed the same.

Disclaimer: The opinions in this article are those of the individual experts and may not reflect the views of NiftyStat.

Reliance Power announced that the Solar Energy Corporation of India Limited (SECI) has lifted a ban on the company. This means that Reliance Power and its subsidiary, Reliance NU BESS Limited (formerly called Maharashtra Energy Generation Limited), can now take part in all SECI tenders. Previously, on November 6, SECI had banned both companies from joining any future tenders for three years. However, after some legal discussions, SECI decided to remove this ban. It’s important to note that SECI still has the right to take legal actions if necessary

Amazon India has bought a large piece of land—over 38 acres—in Palava, close to Mumbai, from Lodha, a well-known real estate company. They paid more than ₹450 crore (about $54 million) to build a big data center there. Amazon’s data service branch, Amazon Data Services India, will use the land to create a new facility that can hold up to 4.16 million square feet of space.

So far, Amazon has paid about ₹396 crore to Lodha as part of the deal and will pay the remaining ₹54 crore later after completing some steps. They also paid ₹27 crore for stamp duty to register the purchase on November 12.

Last year, Amazon also leased a smaller 4-acre land in Powai, Mumbai, for nearly 18 years to build another data center, spending more than ₹562 crore in total rent. In 2022, they even leased an extra 5.5 acres from the same company, adding up their total land to 9.5 acres, costing nearly ₹1,500 crore in rent over the years.

Before these deals, Amazon set up a data center in Thane, where they bought a huge 54-acre land for over ₹1,870 crore last year.

Amazon is dedicated to improving digital services in India and plans to spend up to $12.7 billion on cloud infrastructure by 2030. Other big companies like Google and Microsoft are also investing in data centers in India, which are becoming super important for various online services

RBI Deputy Governor Swaminathan J recently shared that banks should create credit plans by first listening to the needs of local communities. Speaking to lead district managers in Maharashtra, he emphasized that understanding the priorities of people in different areas helps banks better meet their funding needs.

The Lead Bank Scheme (LBS), started in 1969, was designed to help banks and the government work together. Swaminathan stated that plans should be based on real data gathered from local surveys instead of just theories. This hands-on approach helps identify where money is needed the most and ensures that loan plans fit local needs.

He pointed out that around half of the Self-Help Groups (SHGs) still don’t get formal loans, and many small farmers are also unable to access bank funds. Businesses, especially those run by women, are another group that often miss out on financial help. Thus, by combining data analysis with real-world experience, banks can better serve these groups with more effective credit plans.

Over the years, LBS has adapted to meet India’s changing needs, allowing banks and government agencies to improve access to banking services and provide essential funding to key areas.

India is quickly becoming a top place for investment opportunities across many sectors. Anupam Tiwari, Head of Equity at Groww Mutual Fund, recently talked about the new Groww Multicap Fund, which aims to take advantage of India’s growth.

What is the Groww Multicap Fund?
The fund will be open for investment from November 26 to December 10, 2024. It puts money in three types of companies: large, mid-sized, and small. This mix is important because it helps spread out risk, meaning your money is safer. Tiwari believes that companies of all sizes can grow, and they will look for the best ones based on their quality and potential to make money.

Why Invest in Mid and Small Companies?
Tiwari says there is a growing chance for mid and small companies, particularly over the next ten years. These companies have become stronger financially and can now attract talented workers. More and more, new graduates want to work for startups instead of big foreign companies.

Key Growth Factors
1. Talent: There are many qualified people available for jobs, even in smaller companies.
2. Capital: Small businesses now have better access to money from banks and investors.
3. Markets: Digital tools are making it easier for companies to sell products.

Tiwari also sees big chances for India in exports, premium products, financial technology, infrastructure, and areas where India can produce goods instead of relying on other countries, especially China.

Why Choose a Multicap Fund Now?
Tiwari believes that investing in a mix of large, mid, and small companies is great for anyone looking to invest for five years or more. The idea is that investing this way will lead to less risk and help make money over time.

What Makes This Fund Different?
The Groww Multicap Fund has a strong, systematic strategy that focuses on growth while paying attention to prices. They’re dedicated to being a true multicap fund, meaning they’ll balance their investments well among large, mid, and small companies.

How Will the Fund Keep Your Investment Safe?
The Groww Multicap Fund will pay close attention to two types of risks: those that come from the company itself and those coming from the economy. They plan to manage risks by doing thorough research and adjusting investments based on current market conditions.

The Role of Multicap Funds in Your Portfolio
Tiwari thinks that the Groww Multicap Fund should be the core of your investment portfolio. It gives investors access to a wide range of stocks, and from there, you can invest in specific areas or themes if you want.

NEW DELHI: Today, several companies saw a lot of activity on the National Stock Exchange (NSE). The highest trades were from HDFC Bank (Rs. 3966.07 crore), Reliance Industries (RIL) (Rs. 2227.92 crore), Adani Ports SEZ (Rs. 2144.71 crore), Mazagon Dock Ship (Rs. 1610.73 crore), and ICICI Bank (Rs. 1504.13 crore). Other notable companies included Bharti Airtel (Rs. 1481.77 crore), Indegene (Rs. 1452.61 crore), L&T (Rs. 1223.42 crore), Granules India (Rs. 1095.96 crore), and ITC (Rs. 1042.13 crore).

The NSE Nifty index, which shows how well stocks are doing, went up by 181.11 points, finishing at 24457.15. Similarly, the BSE Sensex, another index, climbed 597.67 points to reach 80845.75. Some of the biggest winners in the Nifty index included Adani Ports (up 6.00%), NTPC (up 2.59%), Adani Enterprises (up 2.33%), L&T (up 2.25%), and State Bank of India (up 2.10%).

On the flip side, some stocks faced losses. Bharti Airtel dropped by 1.41%, Hero MotoCorp fell by 1.09%, ITC decreased by 0.98%, HDFC Life Insurance fell by 0.97%, and Sun Pharmaceutical lost 0.47%.

Good news for everyone! The Nifty 50 index has gone up more than 1% in the last two trading days. A company called Axis Securities believes that the index could reach 26,100 by December 2025, which is an 8% increase from where it is now. They think India’s economy is growing strong, thanks to more money being spent on projects, which helps banks lend more. This means that Indian stocks could provide great returns, predicted to be in the double digits over the next 2-3 years.

Axis Securities expects earnings to grow at a strong rate of 14% each year from 2023 to 2027. They see good signs from the economy, government spending on buildings and roads, and a stable political situation. Financial stocks like ICICI Bank and SBI are expected to do really well in 2025 and 2026.

Even though some investors might be looking at China for a little while, Axis Securities is still confident about the long-term prospects of Indian stocks. Their advice? Focus on choosing good-quality stocks at reasonable prices to increase your chances of earning money in the next year.

In the short term, there might be some ups and downs in the market. Axis Securities suggests a “Buy on Dips” strategy. They recommend keeping some cash handy (about 10%) to take advantage of price drops and to invest in high-quality companies that are likely to perform well in the next 12-18 months.

In a nutshell, Axis Securities feels positive about India’s market in the long run, even when the global situation seems unpredictable.

Their top stock picks include:

Financials:
– ICICI Bank (Target Price: Rs 1,500; Upside: 15%)
– State Bank of India (Target Price: Rs 1,040; Upside: 24%)
– HDFC Bank (Target Price: Rs 2,025; Upside: 13%)
– Cholamandalam Investment & Finance (Target Price: Rs 1,675; Upside: 36%)

Healthcare:
– Aurobindo Pharma (Target Price: Rs 1,730; Upside: 37%)
– Lupin Ltd (Target Price: Rs 2,600; Upside: 27%)
– Healthcare Global Enterprises (Target Price: Rs 575; Upside: 14%)

Consumer Staples:
– Varun Beverages (Target Price: Rs 700; Upside: 13%)

Communication Services:
– Bharti Airtel (Target Price: Rs 1,880; Upside: 16%)

Information Technology:
– HCL Technologies (Target Price: Rs 2,100; Upside: 14%)

Materials:
– Dalmia Bharat (Target Price: Rs 2,040; Upside: 12%)
– Gravita India (Target Price: Rs 3,000; Upside: 38%)

Consumer Discretionary:
– Chalet Hotels (Target Price: Rs 1,035; Upside: 16%)
– Sansera Engineering (Target Price: Rs 1,780; Upside: 12%)

Real Estate:
– Prestige Estates Projects (Target Price: Rs 2,195; Upside: 33%)

Industrial:
– J.Kumar Infraprojects (Target Price: Rs 950; Upside: 26%)

So remember, keeping some cash on hand is smart for taking advantage of dips in quality stocks!

However, some companies lost value. Dalmia Bharat Sugar dropped by 1.30%, and Kothari Sugars fell by 0.69%.

Overall, the Nifty50 index ended the day up by 181.11 points at 24,457.15. The BSE Sensex also performed well, closing up 597.67 points at 80,845.75. Some top gainers in the Nifty pack included Adani Ports (up 6.0%), NTPC (up 2.59%), and Adani Enterprises (up 2.33%).

On Tuesday, many sugar companies saw their share prices go up! Balrampur Chini Mills Ltd. increased by 2.85%, and Bajaj Hindusthan Sugar Ltd. followed closely with a 2.77% rise. Other gainers included EID Parry (up 2.20%), KCP Sugar (up 2.14%), and Uttam Sugar (up 1.78%).

On the flip side, Bharti Airtel fell by 1.41%, and Hero MotoCorp decreased by 1.09%.

Gold prices fell for the second day in a row, dropping by Rs 200 to Rs 79,000 for every 10 grams in the national capital, according to the All India Sarafa Association. On Monday, gold was priced at Rs 79,200 for the same amount.

In contrast, silver prices jumped up by Rs 2,400, reaching Rs 92,400 per kg, up from Rs 90,000. Traders say the rise in silver prices is mainly due to its demand in industries.

Gold with 99.5% purity also dropped by Rs 200, closing at Rs 78,600 for 10 grams, down from Rs 78,800 on Monday. In futures trading on the Multi Commodity Exchange (MCX), gold for February delivery went up by Rs 146, or 0.19%, to Rs 76,833 per 10 grams. Meanwhile, silver for March delivery increased by Rs 1,251, or 1.38%, to Rs 92,061 per kg.

Around the world, Comex gold futures rose by $7.40, or 0.28%, reaching $2,665.90 per ounce. Just the day before, gold and silver prices were highly influenced by a stronger dollar after U.S. President Donald Trump threatened to impose heavy tariffs on BRICS countries. This news worried traders and pushed the dollar up, also causing the Indian rupee to weaken significantly.

Gold’s safe demand was affected by signs of a hold in the Israel-Hezbollah ceasefire, but tensions between Russia and Ukraine still encouraged some buying of gold. Chintan Mehta, the CEO of Abans Holdings, mentioned that gold prices stayed steady because of better-than-expected U.S. manufacturing PMI data, which helped boost the dollar’s strength. He also noted that Christopher Waller, a U.S. Federal Reserve governor, is still hopeful about falling inflation and a strong job market, hinting at possible interest rate cuts in December.

In the Asian market, silver is trading 1.93% higher at $31.46 per ounce.

NEW DELHI: Today, several stocks hit their lowest prices in a year, including Aki India, C.E. Info Systems, Dhanvarsha Finvest, Akshar Spintex, and GIR Natureview. The main stock market index, NSE Nifty, dropped by 181.11 points, finishing at 24,457.15. However, the BSE Sensex saw a nice rise, closing up by 597.67 points at 80,845.75.

On a positive note, some stocks reached new highs today. These include Madhav Copper, BSL Ltd, Enviro Infra Engineering, Dharamsi Morarji, and Banaras Beads. Among the winners in the Nifty 50 index were Adani Ports SEZ, NTPC, Adani Enterprises, L&T, and SBI.

However, not all stocks performed well. Top losers today were Bharti Airtel, Hero MotoCorp, ITC, HDFC Life, and Sun Pharma.