The BJP's strategy seem to be to wean away allies from the Congress, in Dravidian Tamil Nadu, and maybe later in UP, Bihar and elsewhere, though in slow doses, but without wooing them into a new alliance. The idea seems to be only to weaken the INDIA bloc from within -- and leaving it at that, notes N Sathiya Moorthy.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
EPS is not a good measure of performance because it does not consider the opportunity cost of capital and can be manipulated by short-term actions.
Domestic institutional investors pumped Rs 2.3 trillion into equities during H1 CY24. Of this, mutual funds contributed 80%.
Stalin, in an interview to a daily, has refuted the FM's allegations, saying "everyone present in the Assembly knew it was a drama enacted by herself," referring to the late Jayalalithaa.
Should the ruling AIADMK in Tamil Nadu not make the required five out of 22 by-election seats, or even otherwise, the temptation to poach, especially from the Congress or starting with the Congress may be high on Chief Minister Edappadi K Palanisami's agenda, says N Sathiya Moorthy.
Shares of Le Travenues, which operates online travel booking platform ixigo, soared 78 per cent on their market debut (June 18) and surged 80.4 per cent in the three days over their issue price. Ixigo has joined competitors EaseMyTrip and Yatra on the bourses. Analysts believe the blockbuster response to ixigo may lead to greater scrutiny of the financial performance of other online travel aggregators (OTAs) like Easy Trip Planners, and Yatra Online.
Panneerselvam, writing to Palaniswami said AIADMK workers have been incensed since opinions were expressed over single and dual leadership at a party meet on June 14.
In the midst of huge job losses as a fallout of the coronavirus pandemic, Tamil Nadu Chief Minister Edappadi K Palaniswami has signed 17 MoUs for an investment of Rs 15,100 crores that aim to provide 47,100 jobs. But a clearer picture on where the projects stand will emerge only after the Covid-19 induced fear psychosis ends, to see if popular protests will derail them like they have done so many others, says N Sathiya Moorthy.
An in-line ICICI Bank result for the quarter ended March 31, 2024, has led to analysts raising target price and earnings per share (EPS) forecast on the stock. ICICI Bank, they said, appeared least vulnerable to regulatory action on its digital offerings or for risk monitoring lapses.
For now, Edappadi K Palaniswami is in the saddle in Tamil Nadu, and firmly so. Both inside the party and the government, he has made OPS a yes-man, as the latter used to be under Jayalalithaa, says N Sathiya Moorthy.
'Over the next 12 months, it will be difficult to make 15 to 20 per cent return in the markets as the valuations appear stretched.'
With the assembly polls only two years away, in 2026, any demoralising defeat in 2024, would challenge not only the party's continued relevance but also EPS's leadership, asserts N Sathiya Moorthy.
Wednesday's Vikravandi by-election has become a referendum on the Stalin government, notes N Sathiya Moorthy.
Panneerselvam indicated that he would support the move but laid down certain conditions, he said without divulging them. "I hope the two factions would sort out the differences soon," Annamalai said.
Have the markets already played out their dynamics before the economy has even properly taken off? Are we now destined for a period of mediocre returns despite a strong economy? asks Akash Prakash.
The BJP is now inventing new angles to keep its campaign relevant -- even if it's old wine in an old bottle, which is what the allegation on 'Katchatheevu' is, notes N Sathiya Moorthy.
As pressure mounted, the CPI-M-led Left Democratic Front seemed to be supporting Mukesh, taking a cautious wait-and-watch stance.
A weaker-than-expected sales performance, concerns about higher competitive intensity in the current year, and earning cuts by some brokerages have weighed on the stock of the country's largest paint maker, Asian Paints. While the Q3 volume show was slightly below expectations, the company's operational and bottom line beat estimates, benefiting from the falling raw material costs. The stock ended the day with a decline of over 2 per cent at Rs 3,175 apiece.
If Tamil Nadu voters preferred the DMK combine, it owed to the Modi-Annamalai combo's ideological battle which often crossed the line of political decency and also challenged 'Tamil pride', argues N Sathiya Moorthy.
Apollo Hospitals Enterprise (APH) delivered an in-line performance for the April-June quarter of the financial year 2024-2025 (Q1FY25)with growth in the number of patients. AHLL (Apollo Health & Lifestyle), a subsidiary, posted sales growth and profitability. APH also reduced operational costs at Healthco.
Many promoters still consider the cash in the company as their money and are averse to sharing this pie with minority investors, points out Akash Prakash.
HDFC Bank's January-March quarter result, which came in-line with expectations, failed to enthuse investors. The reason? The management's decision to abstain from providing any specific growth guidance, and analysts' expectations of an arduous road to recovery. Analysts believe the path to normalisation of several growth metrics is unlikely to be a straightforward one, and the road to balance sheet realignment may be long.
However, the Polycab share price is up by nearly 80 per cent while Havells' has risen by 39 per cent. The Sensex has gained 26 per cent in this period. The Q1FY25 results were in line for both companies.
Overall market reaction to the Budget was neutral. Investors absorbed the changes to the tax rates (positive for salaried class) and capital gains taxes (CGTs, negative due to the removal of indexation and increases. Other proposals largely pertain to supporting rural development, buybacks taxed as dividends, Custom duty changes that impact multiple sectors, higher outlays for clean energy, etc. There's some moderation in the growth of capex outlay across defence, fer
Ramachandran, an OPS loyalist who took part in the meeting, said the former chief minister would soon meet VK Sasikala, the confidante of former party supremo J Jayalalithaa.
Former Chief Minister Panneerselvam's decision was made in the wake of an appeal by the BJP to put up a common candidate to defeat the DMK backed Congress candidate in the election.
However, in the event of the Bharatiya Janata Party deciding to contest, his candidate would withdraw from the race, he said.
The All India Anna Dravida Munnetra Kazhagam general council meeting on Monday revived the general secretary post, and picked Edappadi K Palaniswami as the interim GS.
Alternative Investment Funds (AIFs) with a lock-in period performed better than the ones that allow investors to withdraw capital at any time. Close-ended schemes had a median return of 5.62 per cent in December, according to data from industry tracker PMSBazaar. The median returns for open-ended schemes were 3.91 per cent
Equity valuations are once again on the rise, after they cooled down in the second half of 2021 and the first half of 2022. The BSE Sensex trailing price-to-earnings (P/E) multiple has risen to a 17-month high of nearly 25x, from 23.7x at the end of December 2022 and 21.6x at the end of June 2022. Similarly, the index closed on Friday with a trailing price-to-book (P/B) value ratio of 3.6x, up from 3.4x at the end of December 2022; it is the highest since December 2021.
Notwithstanding the recent sharp decline in the stocks of public sector companies, analysts at Jefferies remain bullish on this segment. State Bank of India, Coal India, and NTPC are their top picks in this space, they said in a recent note. The public sector undertaking (PSU) or state-owned enterprise (SOE) index, with a 70-percentage-point outperformance versus the National Stock Exchange Nifty50 over the past 12 months, comes after a decade of underperformance before 2020.
"Nothing wrong has happened over her death....there is no problem as being made by some persons," he said.
Ambuja Cements' announcement that it would acquire Hyderabad-based Penna Cement Industries could be the Adani Group company's first step for wider inorganic expansion, according to analysts.
The Employees' Provident Fund Organisation (EPFO) on Monday set May 3 as the deadline for subscribers to opt for a higher pension. The Supreme Court on November 4 allowed another change for employees who were existing EPS members as on September 1, 2014, to contribute up to 8.33 per cent of their actual salaries - as against 8.33 per cent of pensionable salary capped at Rs 15,000 a month - towards pension. The apex court gave a four-month window to enable opting for higher pensions.
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.
'When you weigh anti-incumbency against the Centre against anti-incumbency against the state, anti-incumbency against the Centre will triumph as this is a parliamentary election.'
Dixon Technologies' January-March quarter (Q4) results came in well below expectations, but the potential for signing up a new mobile client, and plans for backward integration into display manufacturing kept investors happy. Dixon's Q4FY24 revenue grew 52 per cent year-on-year (Y-o-Y) to Rs 4,660 crore, below Street consensus, due to weakness in consumer electronics (Rs 890 crore) and home appliances (Rs 294 crore) segments.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
However, the EC is yet to make an official announcement in this regard.
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