Domestic tractor sales hit record high of 9.44 lakh in FY23
Including exports, tractor sales zipped past the one million mark in the year ended March 31, buoyed by an increase in the minimum support prices (MSP) that boosted farm income, coupled with another year of above-normal monsoon, said Hemant Sikka, president - farm equipment sector, at Mahindra & Mahindra.
Global headwinds to deeply impact IT revenue growth in FY24, says Crisil
India's IT service industry is expected to witness a plunge in revenue growth by up to 9 percentage points in FY24 due to prevailing global economic conditions, according to Crisil Ratings. The report forecasts that growth for the Rs 10 lakh crore sector will fall to between 10-12% compared to almost 20% estimated in FY23. The decline is set to arise particularly from headwinds within key markets, particularly the BFSI segment in the US and Europe, which will impact revenue growth for domestic IT services companies. However, the impact may be marginally offset by growth in other sectors.
Dwarikesh Sugar jumps over 5% as stock trades ex-dividend
The interim dividend outgo will be Rs 37.66 crore, the company said in its filing to the exchanges. "The record date for reckoning the shareholders who shall be entitled to receive the said dividend shall be Friday, March 31, 2023," the release said.
Domestic stainless steel demand will continue to see healthy growth till FY25: Crisil Ratings
The demand will be driven by increasing adoption of stainless steel in railways which is a focus area for government infrastructure spending, and rising application in the automobile and construction sectors. The demand growth, in turn, will spur capacity additions.
Vedanta on Tuesday announced an interim dividend of ₹20.50 per share - its fifth for the year. With this, the company's total outflow on account of dividends this year will be ₹37,733 crore. Including dividends from subsidiary Hindustan Zinc, Vedanta's dividend payout for the year will be more than ₹40,000 crore.
Vedanta’s dividend payout fails to cheer Dalal Street bulls; here’s why
Adding to the concerns was CRISIL Ratings, who joined the club of global rating agencies by downgrading the outlook on Vedantas non-convertible debentures and long-term bank facilities to “negative” from “stable”.
New tax amendments may make conventional debt instruments like FDs, G-Secs attractive
According to the amendment to the Finance Bill, income from investments in debt mutual funds where not more than 35% is invested in equity will attract short-term capital gains, while no benefit of indexation for the calculation of long-term capital gains will be available
Hindustan Zinc, SBI Cards among 8 stocks to trade ex-dividend this week
Brand Concepts declared an interim dividend of Rs 0.50 per equity share of the face value of Rs 10. Shares of Brand Concepts declined 2.5% to Rs 213.3 apiece in Friday's trade on BSE. The firm has a market capitalization of Rs 226 crore
Dalal Street Week Ahead | 10 key factors that will keep traders busy next week
The market is likely to see volatile and rangebound trades in the coming holiday-shortened week with focus remaining on global banking system updates as we have lack of key driving factors on the domestic front, experts said.
Larsen & Toubro likely to tap bond market to raise about Rs 2000 crore: Bankers
"The company is looking to pay a coupon in the range of 7.70%-7.75% but it will be finalised as they move closer to the bidding date," one of the bankers said.
ETMarkets Fund Manager Talk: Amid falling banking system liquidity, this fund manager recommends staying overweight on govt bonds
Yes, we may see inflows improving in debt mutual funds as we expect yields to stabilise after the sharp up move last year. The returns may also improve with yields stabilising, offering a higher accrual to investors as we approach the last phase of the rate hiking cycle in India and globally.
India New Issue-Kotak Mahindra Prime accepts bids for multiple tenor bonds - traders
It has accepted bids worth 1.85 billion rupees for five-year bonds at an annual coupon of 8.05%, and the issues will close for subscription on Tuesday, they said
There’s no reason to believe if tax advantages are gone, savings habits will be gone: Feroze Azeez
"The only one point which needs to be considered is largely making it simple. If you are getting say Rs 5 lakh deductions under the 80D, 80C, home loan, HRA, then you are better off in the old regime. This is the only decision point which is simple enough for a lay person to comprehend. The sum total of all exemptions should exceed Rs 3.77 lakh for him to write to his employer and say keep me in the old one, otherwise the default is okay."
'Black Swan' author Nassim Nicholas Taleb has an advice for Gautam Adani
To safeguard investors from the sharp volatility in stocks of Adani Group companies, NSE has moved Adani Enterprises, Adani Ports and Special Economic Zone, and Ambuja Cements under the short-term additional surveillance measure (ASM) framework. Traders are now required to pay 100% upfront margin even for intraday trades
Fiscal consolidation and growth thrust hallmarks of Budget: Amish Mehta, Crisil
By targeting a fiscal deficit of 5.9% of GDP for FY24 (vs 6.4% for FY23RE), budget has stayed on the committed glide path to below 4.5% by FY26. A lower deficit will also have a salutary effect on government's borrowing costs and is in sync with the RBI's actions to tame inflation.
Fiscal consolidation and growth thrust hallmarks of Budget: Amish Mehta, Crisil
By targeting a fiscal deficit of 5.9% of GDP for FY24 (vs 6.4% for FY23RE), budget has stayed on the committed glide path to below 4.5% by FY26. A lower deficit will also have a salutary effect on government's borrowing costs and is in sync with the RBI's actions to tame inflation.
Rating companies set to examine debt risks, creditworthiness of Adani companies afresh
Last week, Hindenburg Research had accused the Adani Group of pulling off what it headlined as the "largest con in corporate history," alleging 'stock manipulation, accounting fraud, and substantial leverage.'
Need to create jobs to accelerate India growth story
While India is doing markedly better on inflation, the global factors will have a significant impact on the RBIs policy stance as it will need to balance interest rates and currency to protect the flight of capital from the country.
"Global news flows would continue to dominate the outlook for the Indian metals sector. A faster reopening in China and stimulus has provided a new lease of life for the sector, although on ground demand improvement is still elusive. Post CNY demand would be key for further rerating," said brokerage firm CLSA.
Operating margins seen contracting by 270 bps to 18-19% in Q3: Crisil
According to Sehul Bhatt, an associate director at the agency, operating margins in the automobile, metals and construction sub-sectors, which had contracted in the second quarter, reversed trend sequentially in the third quarter. Of the 20 sectors expected to outpace driven by the growth in revenues, 10 should see a margin contraction and five marginal improvement
Rekha Jhunjhunwala picks 2% stake in smallcap pharma stock
Sun Pharma Advanced Research Company (SPARC) is a clinical-stage bio-pharmaceutical company focused on continuously improving standards of care for patients globally, through innovation in therapeutics and delivery. SPARC was formed in 2007 following its demerger from Sun Pharma, a global leader in speciality generics.
Metal stocks rally up to 6% last week. What's cooking?
While the recent price hikes in the regional market and expectations of better demand in Europe appear encouraging, we would wait for more clarity on stimulus measures in China and their impact on the overall steel demand, it said.
Rekha Jhunjhunwala adds stake in this Tata group multibagger in Q3
This amounts to a 0.18% increase in holding by the investor as in the previous quarter, she held a 1.61% stake or 45,75,687 equity shares in the cellular and fixed-line services provider.The latest corporate shareholdings filed suggest that Rekha Jhunjhunwala publicly holds 20 stocks with an estimated net worth of over Rs 12,171.6 crore.
Jhunjhunwala family increases stake in this smallcap
Rekha Jhunjhunwala, as per the latest corporate shareholdings filed, publicly holds 19 stocks with an estimated net worth of over Rs. 11,866.8 crore. Some of the top holdings of the investor include Aptech, Crisil, Indian Hotels and Jubilant Pharmova and Fortis.
ETMarkets Smart Talk: Renewable energy, sugar among 6 sectors which will remain in spotlight in Budget 2023: Hemant Sood
We have witnessed a commendable bull run in the Equity Market from March 2020 to October 2022, during which we have seen a rally across the market caps and sectors.
Jhunjhunwalas’ portfolio value doubled in 2 years! Here's how much RJ & Co made in 2022
He is survived by his wife, Rekha Jhunjhunwala, and three children. Rekha has been an investor in several RJ companies, and the Jhunjhunwala portfolio value includes the value of Rekhas holdings as well.
The worlds second-largest economy has seen equities slump by two-fifths since June 2021, thanks to Beijings isolationist Covid-19 policies, turmoil in the real-estate industry and a punishing antitrust campaign against the countrys valuable tech firms. If China has been mired in a surfeit of pessimism, the opposite is true of India. Thanks to pent-up urban demand after the pandemic, stocks have held up reasonably well despite the US Federal Reserves aggressive monetary tightening.
Corporate Radar: Smallcap stock to trade ex-bonus; Gyscoal Alloys rights issue and more
The board of Ramco Systems met the previous day to consider raising of funds by way of issue of shares and/or warrants convertible into equity shares. The board decided on the issuance of warrants as well as equity shares.
ETMarkets Fund Manager Talk: Momentum indicators help this money manager to handpick 15-30 stocks for AIF
The SCS is a Cat III AIF that is designed to generate an absolute return from a basket of stocks using equity derivatives. As the name suggests, the product is designed to invest in fixed income, which will convert to equity in case there is a fall in prices of shares.
NBFCs to face higher fund costs as banks look to pass on MCLR hikes
Liquidity has generally been trending down with the central bank seeking to reduce excess liquidity from the system to manage inflation. The banking system liquidity surplus has narrowed to around ₹1.5 lakh crore from ₹6.3 lakh crore at the start of the fiscal year. Due to tightening liquidity conditions as banks are forced to hike deposit rates, they will pass on this hit through MCLR loans.
The above five-year paper has a greenshoe option to retain an additional 30 billion rupees, while the 15-year paper will have a greenshoe option to retain an additional 25 billion rupees, taking the total issuance size to 65 billion rupees.
Radhika Gupta explains all about investing in target maturity funds
“The universal bonds of target maturity funds today is either G-Sec which are lending to the government, state development loans and lending to states, which is also of sovereign equivalent because they are guaranteed by RBI or lending to AAA PSUs – the Navratnas, Maharatnas as in the case of Bharat bond. In doing this, the structure combines credit stability because of the kind of quality of borrowers and predictability of returns.”
India New Issue-Kotak Mahindra Bank to issue 7-year infra bonds - traders
The company has invited coupon and commitment bids from investors on Nov. 30 and the bidding will take place on the National Stock Exchange's electronic platform, the bankers said.
Rupee gains 14 paise to 81.65 against US dollar in early trade
At the interbank foreign exchange, the domestic unit opened at 81.72 against the dollar, then gained further ground to touch 81.65, registering a rise of 14 paise over its previous close.
What did Rekha Jhunjhunwala buy & sell in September quarter? Here's the list
Jhunjhuwala added stakes in two new counters during the period while she likely exited three companies, suggests latest shareholding pattern. Further, Jhunjhunwala increased her stakes in as many as five existing holdings and cut stakes in three others. She kept her stake unchanged in seven counters.
FD vs mutual funds: Which is a better option for first-time investors?
The sequence of return in a market-linked product is not linear as compared to a traditional recurring deposit. If for example in the very 1st year the markets drop by -15%, then the required rate of return for the next 14 years goes up to 7.25% from 7.00%, keeping the installment amount constant.
This sugar stock remains on sweet spot after consent for distillery ops
"Further, we have received consent for operation for 645 KLPD distillery. We will update on the trial run of 645 KLPD Distillery in due course," the company told the bourses in the exchange further.
This sugar stock remains on sweet spot after consent for distillery ops
"Further, we have received consent for operation for 645 KLPD distillery. We will update on the trial run of 645 KLPD Distillery in due course," the company told the bourses in the exchange further.
Indiabulls Housing Finance opens public issue of bonds to raise up to Rs 800 cr
"Net proceeds of the tranche III issue, after meeting the expenditures of and related to the tranche III Issue, at least 75 per cent shall be utilised for the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the company and up to 25 per cent for general corporate purposes," the company said.