Category: News

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    The Indian stock market is expected to stay stable on Friday due to weak signals from around the world. On Thursday, the Nifty futures index dropped by 0.97% to reach 24,021 points.

    Looking at options trading, most investors believe the Nifty will struggle to rise above the 25,000 mark. They are focusing on two sections: the highest number of call options (which bet on prices going up) is at 25,000 and 26,000. Meanwhile, the most put options (which bet on prices going down) are found at 23,000 and 24,000.

    There’s talk of call options being sold at 24,000 and 24,200, while put options are sold at 24,000 and 23,500. This information suggests the Nifty will likely trade between 23,400 and 24,400 points, with a closer range of 23,700 to 24,200 points.

    Chandan Taparia, an expert from MOFSL, says the Nifty created a small bullish candle on Thursday, indicating a slight rise, but it went down for four days in a row. If it stays under 24,000, we may see it drop to 23,850 or 23,500. If it goes up, it could face challenges at 24,150 and 24,350.

    Experts have suggested some stocks to watch for short-term trading:

    Amol Athawale (Kotak Securities)
    – Wipro: Buy | Target Rs 323 | Stop Loss Rs 307
    – SAIL: Buy | Target Rs 123 | Stop Loss Rs 115
    – Coal India: Buy | Target Rs 405 | Stop Loss Rs 386
    – Apollo Hospitals: Buy | Target Rs 7,540 | Stop Loss Rs 7,210

    Kunal Bothra (Market Expert)
    – LIC: Buy | Target Rs 925 | Stop Loss Rs 880
    – Abbott India: Buy | Target Rs 30,000 | Stop Loss Rs 28,500

    Nooresh Merani (Technical Analyst)
    – Infosys: Buy | Target Rs 2,050 | Stop Loss Rs 1,920
    – Lupin: Buy | Target Rs 2,250 | Stop Loss Rs 2,140
    – Muthoot Finance: Buy | Target Rs 2,250 | Stop Loss Rs 2,050

    Disclaimer: The views and suggestions provided by the experts are their personal beliefs and do not represent the views of Niftystat)

  • Rand Paul Wants Elon Musk to Replace House Speaker Mike Johnson

    Rand Paul Wants Elon Musk to Replace House Speaker Mike Johnson

    Senator Rand Paul from Kentucky has a bold idea: replacing House Speaker Mike Johnson with tech entrepreneur Elon Musk! Paul thinks that anyone can be Speaker, even someone who isn’t in Congress. He shared this thought on Musk’s social media site, X, saying it would shake things up in Washington and make the political establishment really upset.

    Musk, known for his companies like Tesla, also disapproved of a recent spending bill. He tweeted that anyone who supports this bill should be voted out in two years!

    The House Speaker, Mike Johnson, has been criticized by fellow Republicans for how he handled recent issues, especially the spending bill. Johnson took over as Speaker after Kevin McCarthy was removed from the position last year. With some Republicans unhappy, pressure is building on Johnson.

    Some people, like Democratic commentator Jimmy Williams, don’t agree with Paul’s idea. He said that Senators should focus on their own jobs, not on who should lead the House. However, Congresswoman Marjorie Taylor Greene from Georgia thinks Musk could be a great choice. She stated, “I’d be open to supporting @elonmusk for Speaker of the House.” She believes that getting Musk in the position could help make the government work better.

    Meanwhile, Congressman Thomas Massie from Kentucky wouldn’t support Johnson’s leadership without a “Christmas miracle.” Another lawmaker, Victoria Spartz from Indiana, has decided not to work with the Republicans anymore, which makes Johnson’s support even weaker. Senator Josh Hawley from Missouri criticized Johnson’s actions as well, calling the spending bill situation a “horrible plan” during an interview.

  • Reliance Industries: Oil Deal Boosts Shares Amid Tough Market Conditions

    Reliance Industries: Oil Deal Boosts Shares Amid Tough Market Conditions

    Reliance Industries, a famous company in India, is making news again! They have restarted a deal with Venezuela’s state oil company, PDVSA, to swap oil. This agreement had stopped for some time because of rules from the U.S. government. However, in July, the U.S. allowed this oil trade to happen again, according to a letter from PDVSA.

    Just earlier this month, a large ship carrying around 1.9 million barrels of Venezuelan oil left for a port in India called Sikka. In return, Reliance sent a smaller shipment of 500,000 barrels of another kind of oil back to PDVSA.

    But not everything is good news for Reliance this year. 2024 has been tough, and their stock prices are likely to end in the red. This is the first time in nearly ten years that the company’s shares are falling. Since their highest price in July, the value of Reliance shares has dropped by around 21%, losing more than ₹4.4 lakh crore in value.

    In the past, Reliance did very well, with a fantastic 70.55% return in 2017 and steady profits until 2020. But now, their growth is slowing down. In 2021, their return fell to 19.32%, then 7.60% in 2022, and just 1.44% in 2023. Analysts are becoming careful with their predictions, mentioning problems like slower growth, rising costs for buildings, and a need for spending to grow the business. Additionally, the quick rise of companies that deliver things fast is putting pressure on what Reliance makes, especially in the retail part of their business.

    According to data from Niftystat, experts say there could be a better future for Reliance. They have an average target price of ₹1,602 for the stock, which means it could go up by 30% from current prices. 37 analysts agree on a ‘Buy’ recommendation for Reliance shares.

    On Thursday, Reliance shares closed at ₹1,230.60, which is down 1.8%. This drop came while the main market index, the Sensex, also went down by 1.12%. The stock has fallen over 16% in the last three months, and 4% over the past year, leaving the company’s total value at ₹16,65,293 crore.

    Disclaimer: The opinions and suggestions from experts do not necessarily represent the views of Niftystat.

  • Weather Update: Sunny Day in Haryana with Poor Air Quality

    Weather Update: Sunny Day in Haryana with Poor Air Quality

    Today in Haryana, the temperature is a pleasant 17.81 °C. The forecast shows that temperatures will range from a low of 9.96 °C to a high of 22.97 °C. Don’t worry about the weather being too humid, as the relative humidity is only 27%. There’s a decent wind blowing at 27 km/h, so it might feel cooler outside.

    The sun rose early today, at 7:14 AM, and will set later at 5:32 PM. If you’re making plans, it looks like the sky will be clear and sunny. Don’t forget your sunscreen and sunglasses to enjoy the sunny day!

    Looking ahead to tomorrow, December 21, 2024, the weather is expected to be similar, with a low of 10.09 °C and a high of 22.39 °C. Humidity will drop a little to 18%, so it should feel quite dry.

    However, be careful! The Air Quality Index (AQI) in Haryana today is at 283, which is considered poor. Kids and those with breathing issues, like asthma, should stay indoors. Everyone else should also try to limit outdoor activities to stay safe. Keeping an eye on the AQI can help you plan your day better.

    Stay safe and enjoy the beautiful weather!

  • IndusInd Seeks ₹4,300 Crore to Complete Reliance Capital Acquisition!

    IndusInd Seeks ₹4,300 Crore to Complete Reliance Capital Acquisition!

    IndusInd International Holdings (IIHL) is talking to big investors like Barclays and Bank of America to raise ₹4,300 crore to help buy Reliance Capital by the end of January. Barclays is putting in ₹1,000 crore on its own in this deal. IIHL is offering a yearly return of 15% on bonds that will be backed by Reliance Capital shares after getting permission from the Reserve Bank of India (RBI).

    Last September, IIHL managed to raise ₹3,000 crore with a slightly lower return of 14.5%. This new money will help IIHL finish buying Reliance Capital, which costs ₹9,861 crore in total. IIHL also plans to sell some of Reliance Capital’s less important assets, mostly real estate in Mumbai and land in Gujarat, to raise another ₹1,000 crore.

    The goal is to focus on growing Reliance Capital’s business, and they want to sell off 35 of the 39 subsidiaries by March. The chairman, Ashok Hinduja, has said they want Reliance Capital’s value to reach $50 billion by 2030, up from $15 billion last year.

    IIHL has taken all necessary steps to finalize the acquisition of Reliance Capital and will soon list its insurance units separately within two years.

  • Luigi Mangione Charged with Murder: Shocking Details Revealed!

    Luigi Mangione Charged with Murder: Shocking Details Revealed!

    Luigi Mangione has been accused of being the main person behind the murder of Brian Thompson, the CEO of UnitedHealthcare. He has been sent to the Metropolitan Detention Center in Brooklyn, where Sean “Diddy” Combs is also being held. They share the same lawyer, Marc Agnifilo, and his wife, Karen Friedman Agnifilo.

    Mangione arrived in New York on a plane and helicopter from Pennsylvania after agreeing to be sent there. He faces serious charges, including stalking and using a gun, which could lead to the death penalty if he is found guilty.

    He appeared in court calmly, dressed casually, and did not plead guilty or not guilty. His team of lawyers believes the two sets of charges against him, both state and federal, are unusual and may be unfair.

    Karen Friedman Agnifilo stated they are ready to fight these charges. She also wants to know if both state and federal prosecutors are working together, as the charges are based on different laws.

    Ultimately, Mangione’s case raises serious questions, and his lawyers plan to defend him strongly in court.

  • Changes Needed for Foreign Investment Rules in Indian Startups

    Changes Needed for Foreign Investment Rules in Indian Startups

    In Mumbai, international investors are facing a challenge when they want to invest in Indian companies for the long run. They are asking the government and financial regulators to change a rule. Right now, if a foreign investor buys shares in an Indian startup using the Foreign Direct Investment (FDI) method, they cannot also invest in the same company using the Foreign Portfolio Investment (FPI) method later.

    This rule makes it hard for investors who want to stay with a company for a long time. These investors want to support startups, track how well they are doing, and later earn money when the company goes public through an Initial Public Offering (IPO). Unfortunately, this rule, made in 2019, is stopping them from doing so.

    Recently, important groups like the Investment Company Institute from Washington and the Asia Securities Industry & Financial Markets Association based in Hong Kong have reached out to the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), and the finance ministry to address this problem.

    Siddharth Shah, a senior partner at a law firm, explains that the RBI sees FDI and FPI as two different types of investments. FDI is a long-term investment, while FPI is more about making quick money without long-term commitment. But with today’s complex investing environment, this strict rule might not make sense anymore. Investors may want to increase their shares, but they are forced to follow complicated regulations to do so.

    For example, a foreign investor may buy shares in an unlisted startup (under FDI) but then can’t buy more shares when the company goes public (under FPI). Another scenario is if an FPI holds 9% in a company and wants to increase it to 12%. This new 12% would be seen as FDI, making it difficult to buy shares from the market to reach 15%.

    Some FPIs have tried to find solutions by creating special companies to invest in IPOs, but this is not allowed under India’s rules.

    The good news is that while the finance ministry has asked for more details, and SEBI seems open to change, the RBI might have the final say. Investors hope to change the rules and make it easier to invest in Indian startups.

  • Easy and Tasty Christmas 2024 Dinner Recipes Every Family Will Love!

    Easy and Tasty Christmas 2024 Dinner Recipes Every Family Will Love!

    Christmas 2024 is almost here, and it’s time to think about delicious dinner recipes for your family and friends! This year, there are lots of tasty options to choose from. Let’s look at some must-try dishes that are popular in many U.S. cities.

    Yummy Hot Dogs for the Youngsters!

    Hot dogs are a super easy dish to make and are perfect if you don’t cook much. If you have kids who love sports, dress up those hot dogs in a fun way! You can add tiny figures of their favorite basketball or baseball players. They can even keep these figures as a little gift!

    Green Bean Casserole for Everyone

    A green bean casserole is a classic choice for Christmas dinner. It’s quick to make and packed with veggies. If you’re in a hurry but still want to impress your guests, this dish is for you! You can make it even tastier by adding some mashed potatoes or crispy bacon on top.

    Flan: A Sweet Treat for the Holiday

    If you are from Arizona, flan is an awesome dessert to serve this Christmas. For those who really love sweets, try chocoflan—it’s a delicious mix of chocolate and flan that brings that cozy, festive feel to your table.

    Remember to choose dishes that are simple to make but show your personal touch and love for the people you care about!

    FAQs:
    – Are hot dogs popular during Christmas dinners?
    Yes, hot dogs are a hit in many U.S. cities with lots of different toppings!

    – Are chocoflans popular in the U.S.?
    Yes, chocoflans are very popular, especially in places like Arizona and Georgia, and sweet lovers enjoy them!

  • Banke Behari Temple Requests Respectful Dress Code for Devotees

    Banke Behari Temple Requests Respectful Dress Code for Devotees

    The Banke Behari temple in Vrindavan has a message for visitors: please dress properly when you come to pray. The temple administration is asking people not to wear half pants, mini skirts, night suits, torn jeans, or leather belts. They want to keep the temple special, as it is a place of worship, not a place for casual dress.

    Umesh Saraswat, the deputy manager of the temple, said, “We hope everyone will wear decent clothes to show respect when they come to offer prayers.” A large banner on the street leading to the temple also reminds visitors to dress appropriately.

    Other temples in the Braj region have similar rules. For example, last year, the Kailash Temple in Agra asked women to wear sarees or salwar kameez and men to wear dhotis or kurtas. The Radha Rani Temple in Barsana also requested that people avoid wearing skirts and torn jeans. The Gilahraj Hanuman Temple in Aligarh has similar dress codes as well.

    Following these guidelines helps everyone enjoy a respectful and peaceful visit to the temple.

  • Trump Rejects Deal as Congress Faces Government Shutdown Deadline”

    Trump Rejects Deal as Congress Faces Government Shutdown Deadline”

    The U.S. Congress is racing against time to stop a partial government shutdown. As of Thursday, Congress has only two days left. President-elect Donald Trump has turned down a bipartisan plan meant to keep the government running. Instead, he wants Congress to deal with the debt ceiling before he takes office next month. Trump told his Republican colleagues in Congress to oppose a stopgap bill, which would keep the government funded after the deadline of midnight Friday. He warned that any Republicans who supported the bipartisan plan might face challenges from other party members in the 2026 elections.

    Speaker of the House Mike Johnson and other Republican leaders are working hard to find a new agreement that satisfies both their party and the Senate, where Democrats have a slight edge. If no agreement is reached, the government will shut down on Saturday, affecting things like air travel and law enforcement just before Christmas.

    Trump also urged Congress to remove parts of the bipartisan deal that the Democrats support. His ally, Elon Musk, who is a billionaire and one of the richest people in the world, has been pushing Congress to reject the plan. The bipartisan deal would keep funding at its current level and give $100 billion for disaster relief and $10 billion for farming assistance, but it also proposed pay raises for lawmakers and a crackdown on hidden hotel fees.

    Some members of Congress are worried. Representative Rosa DeLauro, a leading Democrat, criticized Republicans for listening to Musk, who is not an elected official. Meanwhile, Speaker Johnson mentioned that he had a productive meeting with other party leaders but didn’t share any details. The House has not yet agreed on the debt ceiling discussions.

    Republicans are feeling restless, especially after the exit of their former leader, Kevin McCarthy. Some hardline Republicans, like Marjorie Taylor Greene, are even talking about potentially looking for new leadership.

    The next steps are still not clear. Congress needs to work together to pass any new spending plan in both the House and Senate. This stopgap measure is important because Congress has not passed its regular budget for the new fiscal year starting on October 1. Social Security benefits, however, will continue automatically. For over 20 years, the U.S. government has spent more money than it takes in, which has caused the national debt to rise.