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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.

NEW DELHI:  On Tuesday, many stocks on the Bombay Stock Exchange (BSE) jumped more than 10% as Indian stock markets rose. Some of the biggest winners included: Kanpur Plastip (up 14.86%), Dharamsi Morarji (up 14.15%), HEG (up 13.84%), Bajaj Steel (up 13.47%), Indbank Merchant Banking (up 12.52%), Orient Press (up 12.35%), Fermenta Biotech (up 11.84%), Vadilal Enterprises (up 11.68%), Remi Edelstahl (up 11.58%), and Banaras Beads (up 11.27%).

The Sensex, which is a group of 30 important stocks, rose by 597.67 points to close at 80,845.75. The Nifty index, made up of 50 stocks, went up by 181.11 points to finish at 24,457.15. Out of the 50 stocks in the Nifty, 41 ended higher while 9 fell.

Additionally, some stocks like BSL Ltd, Enviro Infra Engineer, Thirani Projects, Dharamsi Morarji, and Fermenta Biotech reached their best prices in 52 weeks. On the other hand, stocks such as Aki India, C.E. Info Systems, Nettlinx Ltd, MSR India, and Dhanvarsha Finvest hit their lowest prices in 52 weeks during today’s trading session.

Rachit Prints, a company that makes special fabrics for mattresses, announced on Tuesday that it wants to grow its earnings to ₹100 crore by 2026-27. Right now, the company made ₹37.08 crore during the 2023-24 financial year. Based in Meerut, Uttar Pradesh, Rachit Prints creates unique fabrics for mattresses, including knitted and printed varieties. To help fund its growth, the company plans to launch an initial public offering (IPO) and has chosen Khambatta Securities to lead the process.

Promoter and Managing Director Anupam Kansal expressed confidence in their goal, stating, “We are excited about expanding our operations and aim to reach ₹100 crore by 2026-27.” Rachit Prints operates a large 30,625 square foot manufacturing facility in Meerut that is equipped with advanced machinery from India and abroad. In the first quarter of this financial year, which ended in June 2024, the company earned ₹9.8 crore, with a profit of ₹1.02 crore.

Bharat Subcontinental Agri Foundation (BSAF) is gearing up for an exciting event called the South Asia Agri Summit. This important gathering will take place on January 15-16, 2025, at the Shangri-La Hotel in Colombo, Sri Lanka. The summit will focus on the changing landscape of pulses, grains, dry fruits, and spices in South Asia.

Many important people and companies will attend, including the National Agricultural Cooperative Marketing Federation of India (NAFED), Wheat Products Promotion Society (WPPS), and various flour mill associations from India.

The agricultural sector in South Asia is growing fast because people want more food, and there is a chance to sell products abroad. This summit is a great opportunity for exporters to learn about new market trends, rules, and technology. They’ll also get to meet industry leaders, government officials, and potential partners, which can help them form valuable business connections.

The event will feature expert discussions, trade exhibitions, and B2B meetings. These sessions will tackle important issues and explore opportunities in the agri-commodity trade. Exporters can use this chance to better understand trade in the region and find good opportunities for their products.

“Joining the South Asia Agri Forum can help you reach more customers and put your business at the forefront of agri-commodity trade in the region,” said Vivek Agarwal, Managing Director of BSAF. The last summit took place in Bangkok, Thailand, while the one before that was in Kathmandu, Nepal. The Thailand event welcomed over 1,000 attendees from nearly 50 different countries.

On Tuesday, Indian stock markets gained strength, thanks to two big companies: HDFC Bank and Reliance Industries. Investors were excited by talks from U.S. Federal Reserve officials hinting at a possible 0.25% decrease in interest rates later this month.

The main index, S&P BSE Sensex, climbed by 597.67 points, or 0.74%, finishing at 80,845.75. The broader Nifty 50 index also did well, increasing by 181.10 points, or 0.75%, to close at 24,457.15.

High-weight bank stocks saw a 1% rise, especially with HDFC Bank gaining 1.2%. Public sector banks, including the State Bank of India, reported increases between 2% and 3.3%. Reliance Industries, which has already risen 3% in the past two days, added another 1.2% on Tuesday.

Expert Opinions
Rupak De, a Senior Technical Analyst from LKP Securities, explained that the Nifty index showed bullish signs by moving above a key Fibonacci level. This suggests a potential rise in stock prices. He added that as long as the index stays above 24,400 points, there could be chances for it to reach 24,600–24,700 points. If it falls below 24,400, we might see a drop towards 24,150 points.

Global Markets
In global news, stocks around the world mostly rose on Tuesday, influenced by strong tech performances in the U.S. Hong Kong’s Hang Seng index increased by 1.0%, reaching 19,746.32, and Japan’s tech-heavy Nikkei jumped by 1.91%. This week will include important updates about job numbers in the U.S., which could impact the decisions of the Federal Reserve regarding interest rates.

Forex Update
The Indian rupee ended the day stable at 84.6850 per U.S. dollar. It hit a record low recently due to a stronger U.S. dollar and a weak Chinese yuan. The dollar index, which measures the U.S. dollar against six other currencies, was down by 0.15%.

On Tuesday, Finance Minister Nirmala Sitharaman revealed new changes in banking laws designed to make banking better for everyone. These changes will be discussed in the Lok Sabha and include 19 important amendments to various banking laws, including the Reserve Bank of India Act and the Banking Regulation Act.

One major change will allow bank account holders to have up to four nominees, making it easier for families to manage accounts. The bill will also protect investors’ money by sending unclaimed dividends, shares, and bond interest to the Investor Education and Protection Fund (IEPF). This means individuals can get their money back if they have claims.

Sitharaman explained that these changes are necessary as banking has changed over time. The amendments aim to improve how banks are managed and keep customer interests safe.

Key points include:

– Better governance for banks and improved reporting to the Reserve Bank of India.
– More protection for depositors and investors.
– Improved quality of audits for public sector banks.
– Increase in the tenure of cooperative bank directors from 8 to 10 years, in line with new rules.
– Clearer rules about who can be a director in banks, raising the financial limit from Rs 5 lakh to Rs 2 crore, which hasn’t changed in almost 60 years.
– Cooperative banks will have the new rules applying only to their banking activities.
– Directors of Central Cooperative Banks will now be able to serve on the boards of State Cooperative Banks.
– Banks will have more flexibility in deciding how much to pay their auditors.
– Changes will also set new reporting dates for banks, making it easier for them to comply with rules.

These amendments were first mentioned in the 2023-24 Budget speech, showing the government’s commitment to better banking services for everyone.

The Russian government has given the go-ahead for the local company VG Invest to buy the assets of Danish brewer Carlsberg in Russia for 34 billion roubles, which is about $320.75 million. This deal came after Russia took control of Carlsberg’s share in Baltika Breweries back in July 2023. Carlsberg’s CEO, Jacob Aarup-Andersen, said that the company had its business taken from them.

Recently, Carlsberg’s assets were no longer managed by the government. In the new deal, some of Baltika’s shares in businesses in Azerbaijan and Kazakhstan will be handed over back to Carlsberg. In exchange, Carlsberg will transfer a brewery in Russia called Hoppy Union.

It’s important to note that Carlsberg is selling its assets at a much lower price than their actual worth. Carlsberg stated in February 2023 that their assets in Russia were valued at 7.52 billion Danish crowns (around $1.06 billion) by the end of 2022.

Since Russia faced Western sanctions for its actions in Ukraine, it has been making it harder for foreign companies to exit. The government has required these companies to sell at lower prices than they would normally get, and they also impose an extra fee on the sale, often referred to as an “exit tax.”

VG Invest was only started in August and is run by Yegor Guselnikov, who is also a vice president at Baltika. He co-owns another company, Brewery Development Centre (BDC), with Alexander Tolmachev, who previously worked with Heineken in Russia.

This sale of Carlsberg’s assets to VG Invest follows a similar situation with the French company Danone, whose assets were also sold off to a businessman with close ties to the Russian government.