Category: News

  • Mazagon Dock Stock Surges: What You Need to Know!”

    Mazagon Dock Stock Surges: What You Need to Know!”

    Shares of Mazagon Dock Shipbuilders have bounced back after hitting a low around Rs 3,870. The stock then climbed over its previous high of Rs 4,900. In July, it reached a new peak at Rs 5,860 but then dropped about 51%, landing near that support level again. However, since November, Mazagon Dock’s stock is showing strong signs of recovery.

    Technical analyst Rajesh Bhosale from Angel One explains that the stock has been moving positively for two months. After falling from its top price of Rs 5,780 to around Rs 3,830, it has managed to stay above a key level that could indicate a return to rising prices.

    On the weekly chart, the stock is showing a pattern of “higher highs” and “higher lows,” suggesting that it might keep going up. Bhosale predicts a rally towards its previous high of Rs 5,780, with resistance around Rs 5,500. The recent low of Rs 4,740, which is close to the 20-day EMA, is an important support level to watch.

    Defense stocks have been recovering lately, and Mazagon Dock has shown a strong rebound after finding solid support near its 100-day EMA. The stock has just broken out of a tight range while staying well above its 20-day EMA, and it’s getting close to reaching its all-time high again.

    On the technical side, the stock is above its important moving averages, which shows positive momentum.

    Ajit Mishra, SVP of Research at Religare Broking, advises traders to position themselves wisely, suggesting they should buy on any dips, with a stop loss set at Rs 4,750. He sees potential targets of Rs 5,530 and Rs 5,800 for the stock.

    Disclaimer: The views expressed by the experts are their own and do not represent the views of Niftystat.

  • Biden’s Health Concerns: What His Aides Are Hiding

    Biden’s Health Concerns: What His Aides Are Hiding

    On June 27, President Joe Biden participated in a presidential debate, but many people were worried about how he performed. Some questions arose about his age, health, and ability to lead the country. A recent report indicates that White House staff have been trying to hide signs of Biden’s mental decline since he became president.

    Biden has held fewer large press conferences compared to other presidents, and he often makes mistakes while speaking. According to the report, his aides have been rearranging his schedule to help him manage his energy levels. After he was inaugurated during the COVID-19 pandemic, his team quickly started limiting his in-person meetings, especially when he seemed tired or confused. They found that the best time for meetings was earlier in the day because Biden had trouble focusing later.

    Biden relied on notecards and often made mistakes, like confusing the names of world leaders or forgetting important facts. One shocking detail is that he even forgot the year his son Beau passed away. To help with Biden’s speaking issues, the White House hired a voice coach to improve his faint voice. They also hid negative news about him to keep his spirits up since his approval ratings hit a record low in 2024.

    Additionally, there was concern that First Lady Jill Biden might outshine her husband. She was advised not to promote herself too much to avoid making Biden look bad. During his presidency, Jill Biden tried to make sure he didn’t spend too long answering questions at press conferences, fearing he might get caught off guard.

  • Google Cuts 10% of Managers to Boost Efficiency and Compete

    Google Cuts 10% of Managers to Boost Efficiency and Compete

    Google is making more changes to be more efficient and compete with other companies in the growing field of Artificial Intelligence (AI). CEO Sundar Pichai told employees in a meeting that 10% of managers, including directors and VPs, have lost their jobs. This means many people in leadership positions have had to say goodbye.

    This isn’t the first time Google has reduced its workforce. For the last two years, the company has been working to streamline its operations. The latest layoffs happened recently, with some managers being moved to other roles while others were let go completely.

    Pichai kicked off these changes back in 2022 when he shared plans to make Google 20% more efficient. Last year, over 12,000 employees were affected by earlier job cuts.

    During the latest meeting, Pichai talked about something called “Googleyness.” He wants employees to think about what it means to be part of Google. He said “Googleyness” had become too vague, so he simplified it. Now, it’s about important values like working towards a mission, being creative, and working well with others. He also mentioned the importance of creating helpful products and taking smart risks.

    Google’s restructuring is part of a bigger trend in the tech industry, as companies like Amazon are also trimming their management teams to enable individual workers to take more initiative

  • Falling Stock Prices: Is It a Good Time to Invest?”

    Falling Stock Prices: Is It a Good Time to Invest?”

    A while ago, a big company in the industry launched its initial public offering (IPO) for one of its smaller companies. Many people wanted to buy shares, so much that the offer was oversubscribed. When the stock started trading, it opened at a higher price than expected. Everyone wanted to buy the stock because this group was known for doing good business and making profits.

    However, today the situation is different. The stock price has dropped a lot due to a shaky and falling market. Now, people can buy it at a much lower price. Despite all the talk about big businesses and trustworthy leaders, the market can change quickly

  • Navy Boat Crash Near Mumbai: 14 Dead, Search for Missing Boy Ongoing

    Navy Boat Crash Near Mumbai: 14 Dead, Search for Missing Boy Ongoing

    A search operation is still going on to find a seven-year-old boy who went missing after a Navy boat crashed into a ferry off the coast of Mumbai. The accident happened two days ago, and officials say the number of deaths is now 14. A body of a 43-year-old man was found on Thursday.

    The Navy is investigating this tragic event, which is one of the worst accidents in the area. A helicopter and boats from the Navy and Coast Guard are searching for missing people. Out of 113 passengers on board the two boats, 14 people lost their lives, while 98 were rescued, including two who were hurt.

    The Navy boat had six people on it, and only two survived. The accident happened when the Navy boat lost control and hit the passenger ferry called “Neel Kamal.” This ferry was carrying more than 100 passengers and was on its way to Elephanta Island, a popular tourist spot known for its ancient caves.

    Documents from the Maharashtra Maritime Board showed that the ferry had permission to carry only 84 passengers and 6 crew members, meaning it was overloaded. Police have filed a case against the driver of the Navy boat. The charges are about causing death by negligence and unsafe navigation.

    The damaged Navy boat is with the Navy now, and the police will use it for the investigation when needed. The ruined passenger ferry has been moved to a wharf in south Mumbai called Bhaucha Dhakka.

  • Tragic Gas Tanker Accident: 7 Dead, 35 Injured on Jaipur-Ajmer Highway

    Tragic Gas Tanker Accident: 7 Dead, 35 Injured on Jaipur-Ajmer Highway

    A terrible accident happened on the Jaipur-Ajmer highway on Friday morning. A gas tanker collided with several vehicles, causing a huge fire that killed seven people and injured over 35 others. More than 30 vehicles caught fire, sending thick black smoke into the sky. Eyewitnesses saw the flames from nearly a kilometer away.

    Ambulances and fire trucks quickly rushed to the scene. One school van driver, who was picking up students, shared a shocking story of seeing a man on fire. Officials from Rajasthan’s health department confirmed the deaths and injuries. The police are concerned that some people may have been trapped in their vehicles and could not escape.

    Rajasthan Chief Minister Bhajanlal Sharma and Health Minister Gajendra Singh Khimsar visited the SMS Hospital, where the injured were taken. Sharma spoke to doctors, ensuring everyone received the best care possible. He also visited the accident site and chatted with police officers. In a message on social media, he expressed his sadness over the tragedy and promised swift medical help.

    Police officials, including Jaipur Commissioner Biju George Joseph, arrived at the highway to manage the situation. Minister Khimsar said many injured people are in critical condition, and all doctors were called in to help. They even opened an extra ward in the hospital for more patients. Some victims received first aid at nearby hospitals.

    An official report stated that a sleeper bus was behind the gas tanker during the crash. They are still trying to find out more about the passengers on board. Crews are working to clear the burnt vehicles off the highway to reopen it.

    Many leaders, including Chief Minister Sharma and former Chief Minister Ashok Gehlot, expressed their condolences. Police reported that it was tough to control the fire at first, and fire teams struggled to reach the scene. Luckily, three nearby petrol stations were not harmed.

    To assist victims’ families, a district administration team is at the hospital. For anyone needing information, Jaipur Police has set up helpline numbers: 9166347551, 8764688431, and 7300363636.

  • Diageo Explores Sale of Cîroc Vodka Amid Sales Decline

    Diageo Explores Sale of Cîroc Vodka Amid Sales Decline

    Diageo, a big British drinks company, is thinking about selling Cîroc Vodka, a popular brand that was once promoted by music star Sean ‘Diddy’ Combs. They have reached out to other companies and investment firms to see if they are interested, but these talks are just starting and might not lead to a sale.

    This decision comes after Diageo settled a lawsuit with Diddy in January. He had claimed that the company was unfair and ignored Cîroc, but later dropped the accusations, ending their business relationship. Diddy has faced several serious allegations in the past, including charges related to racketeering and sex trafficking.

    Diageo, which also owns popular drinks like Johnnie Walker whisky, has faced challenges recently. Their sales dropped by 1.4% and their stock price has fallen by around 12% in London this year. One of the issues is a decrease in demand for premium drinks in China and some weakness in sales across the Americas.

    Sales of Cîroc have dropped significantly, by 28% in North America just last year. However, because Cîroc is popular in nightclubs, some buyers might see an opportunity to turn the brand around.

  • Mirae Asset Fund Updates: New Exit Load Changes Explained

    Mirae Asset Fund Updates: New Exit Load Changes Explained

    Mirae Asset Mutual Fund is making changes to the exit load for some of its investment plans. This means they are adjusting how long investors have to wait before they can sell their fund units without paying extra fees. Here’s what you need to know:

    Affected Funds: The changes involve five funds: Mirae Asset Balanced Advantage Fund, Mirae Asset Multi Asset Allocation Fund, Mirae Asset Equity Savings Fund, Mirae Asset Midcap Fund, and Mirae Asset Flexi Cap Fund.

    Effective Dates: These changes will start on January 1, 2025, for most funds, while changes for the Mirae Asset Gold ETF Fund of Fund will begin on December 24, 2024.

    What Changes Are Happening?

    1. Mirae Asset Balanced Advantage Fund & Mirae Asset Multi Asset Allocation Fund:
    – Old Exit Load Period: 365 days.
    – New Exit Load Period: 180 days.
    – If you sell your units within 180 days, you’ll pay a 1% fee. If you wait longer, there’s no fee.

    2. Mirae Asset Equity Savings Fund:
    – Old Exit Load Period: 365 days.
    – New Exit Load Period: 90 days.
    – If you sell within 90 days, it’s a 1% fee. No fee if you wait longer.

    3. Mirae Asset Midcap Fund & Mirae Asset Flexi Cap Fund:
    – The rules remain the same: you pay a 1% fee if you sell within 1 year.

    4. Mirae Asset Gold ETF Fund of Fund:
    – If you sell within 3 months, the fee is 0.50%. After 3 months, it’s no fee.

    These changes will kick in for all new investments starting from the effective dates. Also, the launch date for the new Mirae Asset Small Cap Fund has changed: it will now open on January 10 and close on January 24.

  • FirstCry’s Parent Company Soars: Growth & Challenges Ahead!

    FirstCry’s Parent Company Soars: Growth & Challenges Ahead!

    Shares of Brainbees Solutions, the company behind FirstCry, went up by 4% to Rs 630 on the BSE. This happened after JM Financial, a brokerage firm, started recommending the stock with a ‘buy’ rating and set a target price of Rs 692. This means the stock can possibly increase by 9.8% from its current price.

    FirstCry is a big player in India’s childcare market, holding over 24% of the online section and having 1,124 physical stores in 500 cities! The company has its own popular brands like BabyHug and is expanding its stores directly. JM Financial believes this will help the company increase its profit margins by about 6.5% by FY28.

    The firm also thinks FirstCry can grow internationally, especially after seeing success in the UAE and Saudi Arabia. The UAE side is already making money, and Saudi Arabia is expected to do the same in about two years. JM Financial also praised FirstCry’s Globalbees platform, stating it’s the largest and only profitable D2C roll-up in India.

    Brainbees Solutions has shown strong financial growth, with revenue increasing by 38% from FY21 to FY24, and started making profits in FY21. The brokerage forecasted a 20% annual increase in revenue and a 51% annual increase in adjusted profit from FY24 to FY29. This growth is expected due to better efficiency and smart investments.

    In the latest quarter ending September 2024, the company reduced its net loss to Rs 50 crore from Rs 101 crore a year before and down from Rs 57 crore since last quarter. However, there are some concerns like the risk of losing customers from new stores, challenges in foreign markets, and competition from rivals like Meesho.

    Despite these challenges, JM Financial stays positive about the company’s long-term growth, relying on its successful strategy, innovative products, and experienced leadership.

  • KPI Green Energy: New Projects & Bonus Shares Announced

    KPI Green Energy: New Projects & Bonus Shares Announced

    KPI Green Energy is making headlines today because it has signed an important agreement with the Rajasthan government. This deal is to build projects that combine solar and wind power in a place called Jaisalmer, Rajasthan. The Rajasthan government will help the company get the permits and approvals it needs to start these projects smoothly.

    In a different update, KPI Green Energy has set Friday, January 3, 2025, as the date to check which shareholders can receive bonus shares. This means that for every two shares someone owns, they will get one additional share for free, but first, they need to get approval from the shareholders through a vote.

    This will be the third time the company has given out bonus shares. They previously did this in February 2024 (1 bonus share for every 2 shares) and in January 2023 (1 bonus share for every share).

    Analysts are positive about KPI Green Energy’s stock. They say the average target price is Rs 1,100, suggesting that the stock could go up by 44% from where it is now. One analyst even recommends it as a “Strong Buy.”

    The company’s stock has done really well, rising 71% over the last year and 60% this year. However, it has dropped by 15% in the past six months and is down by 4% in the last three months.

    (Disclaimer: Opinions and views mentioned are from experts and might differ from Economic Times.)