rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
A desperate Sunrisers have hit the reset button this season, bringing in Australia's World Cup winning captain Pat Cummins.
After the latest rout, the American depositary receipt (ADR) premium of HDFC Bank to its local shares has shrunk to nearly zero. Shares of HDFC Bank on Thursday fell 3.1 per cent to Rs 1,490, extending its two-day decline to 11 per cent. Meanwhile, the ADR has slumped over 15 per cent in the past two trading sessions.
'India has the potential to do a lot more to take advantage of the time today where we stand to gain, geopolitically and in terms of market attractiveness.'
BJP leaders hit back at the DMK and asked Congress leader Rahul Gandhi if he agreed with the insulting remarks of its Indian National Developmental Inclusive Alliance (INDIA) partner against the north Indians.
Vedanta Resources (VRL), the diversified mining company headquartered in London, is giving final touches to a plan to raise up to $2.5 billion (about Rs 20,800 crore) as debt repayment deadlines near. The company owned by billionaire Anil Agarwal plans to do this by a combination of instruments, including issuing preference shares in the holding company to a slew of offshore investors from West Asia, and taking on another loan to refinance older debt at a higher interest rate. VRL, which is the group's holding company, is also looking to sell part of its 63.71 per cent stake in the Indian listed subsidiary Vedanta Ltd to meet funding requirements, said a banker close to the development.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
Educational technology company Byju's chief financial officer Ajay Goel has quit after completing the audit process for the financial year 2022 and will return to Vedanta, the company said in a statement. The edtech major has roped in industry veteran Pradip Kanakia as senior advisor, and president (finance) Nitin Golani has been given additional responsibility as India chief finance officer (CFO) to handle the finance function of the company.
It is important to have the necessary documents on hand to verify the information in the form.
Panic-stricken people rushed out of their houses as the tremors were felt in parts of the city.
This shift is driven by a pursuit of a superior lifestyle and an innate desire to be grounded in an owned plot of land. Villas, situated within gated housing societies, have gained popularity as a property type, witnessing strong traction due to elevated aspirations and the need for more living space.
Global trends, trading activity of foreign investors, outcome of state elections and RBI's interest rate decision are the major factors that will drive the movement in the domestic equity markets this week, analysts said. "Global markets are currently in a fabulous mood. The US 10-year bond yield and the dollar index are also cooling off, which gives strength to the market. These factors will be closely monitored, as they have the potential to influence market sentiment," said Pravesh Gour, senior technical analyst, Swastika Investmart Ltd. On the political front, the results of assembly elections in five states are eagerly anticipated, Gour said.
Those who want to invest should consider their risk appetite. Youngsters may go for it as they have a longer horizon to recover from a setback.
Larsen & Toubro (L&T) disappointed the Street with its results for the January-March quarter of the 2022-23 financial year (Q4FY23) due to weaker core engineering & construction (E&C) segment performance by the engineering giant.' Although core E&C order inflows for FY23 rose 19 per cent year-on-year (YoY), with orders from railways, metals and water sectors, margins in the infrastructure segment crashed to all-time low. Revenue at Rs 58,300 crore was up 10 per cent YoY but somewhat below expectations.
Rashtriya Janata Dal president Lalu Prasad Yadav had thrown barbs at the prime minister over his having no family.
Water projects firm Vishnu Prakash R Punglia, the 20th company to launch its IPO in the current year, saw its shares closing at a 47 per cent gain over its issue price on Tuesday. Such a huge one-day pop is considered rare; however, it has become the norm this year. The average listing-day gain for these 20 IPOs in 2023 is 34 per cent, and their average gain to date stands at 46 per cent.
In the current calendar year, small and medium enterprises (SMEs) have witnessed an impressive surge in initial public offerings (IPOs), surpassing the 2018 record. Over 150 SME IPOs have been introduced to the market, breaking the previous record of 141 set in 2018. According to data from PRIME Database, a primary market tracking firm, 147 companies successfully concluded their debut share sales by the end of October, raising a cumulative Rs 3,727 crore.
The ruling Bharatiya Janata Party on Saturday announced Prime Minister Narendra Modi will fight again from Varanasi in the upcoming Lok Sabha elections as it named 34 Union ministers in the first list of 195 candidates.
Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
In a press note issued earlier in the day, the Raj Niwas officials said Saxena had approved an increase in the adhoc monthly relief to Kashmiri migrants in the national capital from Rs 10,000 to Rs 27,000 per month.
The ED carried out searches against two former auditor firms of IL&FS -- BSR and Associates and Deloitte Haskins and Sells -- on Wednesday in connection with its money-laundering probe into alleged financial irregularities at the infrastructure development and finance company, official sources said. The premises linked to the two auditors in Mumbai were searched under the provisions of the Prevention of Money Laundering Act (PMLA), they added. The action came a week after the Supreme Court set aside a Bombay High Court verdict that quashed an SFIO probe against the two companies, both former auditors of IL&FS Financial Services, paving the way for action against them under the Companies Act and allowing the National Company Law Tribunal (NCLT) to take forward its enquiry against them.
'Genuine' share transfer gets relief; CBDT lists three scenarios where tax would be levied
Decisions should not be based on feelings, such as optimism or pessimism about the stock market or specific investment products, suggests Avinash Luthria.
Byju Raveendran, founder of educational technology (edtech) firm Byju's, has injected around Rs 4,000 crore of personal capital into the company in recent months. This move comes as the company grapples with challenges, including securing fresh capital, delays in financial reporting, and legal disputes with lenders. "Raveendran has pledged personal property to assist the company in dealing with the crisis. "He conveyed to employees that despite perceptions of being a billionaire, he has reinvested a major portion of his wealth back into the company," said a person familiar with the matter.
From the Sensex pack, Larsen & Toubro jumped 4.26 per cent to emerge as the biggest gainer, followed by IndusInd Bank, Tech Mahindra, State Bank of India, HCL Technologies, Power Grid, NTPC, Axis Bank, Kotak Mahindra Bank, HDFC Bank and Wipro. Mahindra & Mahindra, Infosys, UltraTech Cement and Hindustan Unilever were the major laggards.
Retail investors now own a bigger slice of smallcap companies than at the start of 2023-24 (FY24), underscoring their growing conviction about investing in this red-hot space. Data from Capitaline shows mutual funds' (MFs') average holding in the National Stock Exchange Nifty Smallcap 250 rising to 9.26 per cent from 8.67 per cent during the first six months of FY24, with the number of companies with over 20 per cent MF holdings increasing from 24 to 28. In comparison, MF holdings in Nifty50 companies have gone up only marginally, from 9.67 per cent to 9.75 per cent.
'Interim Budget has ignited the entrepreneurial spirit.'
'AI is not a new thing for us. We started our AI journey in 2015.'
The US Federal Reserve's interest rate decision, global cues, macroeconomic data announcements and the ongoing quarterly earnings are the major triggers that will dictate trends in stock markets this week, analysts said. Besides, the trading activity of foreign investors and the movement of global oil benchmark Brent crude will also be tracked. "All eyes are on the outcome of the US Federal Reserve meeting scheduled for November 1, particularly due to the multi-year high levels of the US bond yields.
Shares of ICICI Bank may outperform those of HDFC Bank in the near-term, analysts said recently, after the Sandeep Bakhshi-led private sector lender reported a strong set of numbers for the July to September quarter (Q2) of financial year 2023-24 (FY24). The result, they said, reiterated that ICICI Bank is maintaining a sustainable and prudent growth led by tech-driven initiatives as against HDFC Bank, which is facing merger related challenges. According to analysts at Prabhudas Lilladher, ICICI Bank is valued at par with HDFC Bank at 2.2x/1.9x on FY25/26E core adjusted book value (ABV) basis.
'You are a prime example of hard work & dedication for our motherland!'
The move to demerge the hotel business into a separate entity by ITC has brought back focus on hotel stocks, which have already seen a good run thus far in fiscal 2023-24 (FY24). Analysts believe there could be more gains in store over the next one year for the stocks in this sector, but suggest investors put in money on a correction only from a long-term perspective. Hotel stocks, according to A K Prabhakar, head of research at IDBI Capital, have seen a good run as travel picked up post Covid in India. Not only have the room rents increased, the occupancy, too, has surged.
The benchmark National Stock Exchange Nifty has rallied 4 per cent, or 750 points, from this month's low to end at 19,732 on week ending November 17. Technical analysts say the market could consolidate around the current levels as it is nearing the resistance zone. "The near-term uptrend status of the market remains intact, but there is a possibility of some more consolidation or minor weakness for the Nifty in the next one to two sessions.
It is pouring heavily not only in North India, but at Dalal Street too. However, the latter is seeing a flurry of initial public offers (IPOs). After a busy fortnight that ended on July 7 with seven IPOs - IdeaForge Technology, Cyient DLM, PKH Ventures, Pentagon Rubber, Global Pet Industries, Tridhya Tech, and Synoptics Technologies -- four more IPOs will hit the Street this week, including one mainboard IPO of Utkarsh Small Finance Bank. That apart, India's largest securities' depository National Securities Depository Limited (NSDL) has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an IPO.
Union Minister Rajeev Chandrasekhar was at the airport to see off Trudeau.
Among Sensex stocks, Wipro gained the most by 3.29 per cent. Ultratech Cement, Reliance Industries, Hindustan Unilever, Nestle, NTPC, M&M, HDFC Bank, ITC, Kotak Bank and Axis Bank were among the winners. On the other hand, HCL Tech fell the most by 1.24 per cent. SBI, TCS, Infosys, IndusInd Bank and Tata Steel also dropped.
'Historically, equities have consistently outperformed debt, gold, property, and other assets over a reasonable period.'
Hindustan Unilever (HUL)'s decision to split its beauty and personal care division and place a renewed focus on digital has been driven by its aim to serve the consumer of tomorrow, say analysts and brand experts. HUL managing director and chief executive officer Rohit Jawa is looking to make the company 'future ready', and while these bets are not for the short-term, they will eventually pay off as the Indian consumer is young and digital friendly, they add. "Rohit Jawa comes with digital experience and he is preparing to steer HUL into serving the future consumer who is more digital friendly," said Sachin Bobade, vice-president at brokerage firm Dolat Capital.
Average housing prices have increased in the range of 13-33 per cent in the last three years across seven major cities on high demand, according to real estate consultant Anarock. Hyderabad's Gachibowli recorded the highest 33 per cent increase in average residential prices in the past three years. In Gachibowli, the average residential prices as of October 2023-end stood at Rs 6,355 per square feet as against Rs 4,790 per square feet in October 2020.
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