Recent News

Tanushree Jaiswal || In early trades on Thursday, the Asian markets were trading sharply lower following losses in the US markets. Among the key triggers for the market on Thursday is the gist of the Fed minutes announced late on July 05, 2023. What the Fed June minutes actually said? Here are five key points made in the minutes of the June Fed meet, published on July 05,2023; which is exactly 21 days after the Fed meeting. Here are the key points. • If you go by the minutes of the US Fed, they see the policy tightening not only a

Tanushree Jaiswal || American chip maker Micron Technology recently announced its plan to invest around $825M in a new chip assembly and test facility in India. This facility will be located in Gujarat and will be Micron's first factory in the country. With support from the Indian government and the state of Gujarat, the total investment in the factory is expected to reach approximately $2.75 billion. The facility will cost $2.75 billion — Micron will invest $825 million, 50 percent will come from the Central government, and 20 percent from

Tanushree Jaiswal || Tata Consultancy Services (TCS) and Nest, the UK's largest workplace pension scheme, have entered into an expanded partnership worth £840 million ($1.1 billion) for an initial tenure of 10 years, with a potential total value of £1.5 billion if extended for the full 18-year term. The collaboration between Tata Consultancy Services (TCS) and Nest is focused on the digital transformation of Nest's scheme administration services, with the ultimate goal of enhancing the experiences of its members. TCS has been working with N

Tanushree Jaiswal || In a significant development, Elon Musk, the CEO of Tesla, has confirmed that the company is poised to make a substantial investment in India. Musk made the announcement following a meeting with India's Prime Minister, Narendra Modi, during the leader’s state visit to the United States. The discussions primarily focused on Tesla's plans to establish a manufacturing base in India, tapping into the country's potential for sustainable energy, including solar power, stationary battery packs, and electric vehicles. Musk also

Tanushree Jaiswal || The ₹18.73 crore of Marco Cables & Conductors IPO comprises of a fresh issue as well as an offer for sale (OFS) component in the IPO from promoters and early shareholders. It is a fixed price IPO with the price for the issue fixed at ₹36 per share. The fresh issue portion of the IPO entails the issue of 26.01 lakh shares which at the fixed IPO price of ₹36 per share is worth ₹9.36 crore. The offer for sale (OFS) portion of the IPO entails the sale of 26.01 lakh shares which at the fixed IPO price of ₹36 per share is als

Tanushree Jaiswal || The ₹54.91 crore IPO of Mangalam Alloys Ltd comprises of a fresh issue as well as an offer for sale (OFS) component in the IPO from promoters and early shareholders. It is a fixed price IPO with the price for the issue fixed at ₹80 per share. The fresh issue portion of the IPO entails the issue of 61.264 lakh shares which at the fixed IPO price of ₹80 per share is worth ₹49.01 crore. The offer for sale (OFS) portion of the IPO entails the sale of 7.376 lakh shares which at the fixed IPO price of ₹80 per share is worth ₹5.90

Tanushree Jaiswal || The ₹45.16 crore IPO of Saakshi Medtech and Panels Ltd comprises entirely of a fresh issue with no offer for sale (OFS) component in the IPO from promoters and early shareholders. The price band has been fixed in the range of ₹92 to ₹97 per share and the final price will be discovered in this band via book building. The fresh issue portion of the IPO entails the issue of 46.56 lakh shares which at the upper end of the price band at ₹97 is worth ₹45.16 crore. Since there is no OFS component in the IPO, the fresh issue size o

Tanushree Jaiswal || The ₹21.23 crore IPO of Inspire Films IPO comprises entirely of a fresh issue with no offer for sale (OFS) component in the IPO from promoters and early shareholders. The price band has been fixed in the range of ₹56 to ₹59 per share and the final price will be discovered in this band via book building. The fresh issue portion of the IPO entails the issue of 35.98 lakh shares which at the upper end of the price band at ₹59 is worth ₹21.23 crore. Since there is no OFS component in the IPO, the fresh issue size of ₹21.23 cror

Tanushree Jaiswal || Infosys, a prominent Indian IT company, and NVIDIA, a leading US chipmaker, have announced an expanded strategic collaboration. Their shared goal is to leverage generative AI applications and solutions to boost productivity for enterprises worldwide. As part of this enhanced partnership, Infosys will integrate NVIDIA's AI Enterprise ecosystem, encompassing models, tools, runtimes, and GPU systems, into its AI-centric offering called Topaz. This integration aims to simplify the adoption of generative AI technologies for Info

Tanushree Jaiswal || Torrent Pharmaceuticals Ltd is actively engaged in discussions with CVC Capital Partners and Brookfield to assemble a consortium and raise substantial funds for an ambitious acquisition endeavor. The company is set to acquire its rival, Cipla, and has embarked on a mission to secure a whopping ₹60,000 crore (approximately $7 billion) acquisition financing package. This potential acquisition financing deal has captured the industry's attention, given its colossal scale and significance. The Consortium Formation Torrent

Tanushree Jaiswal || Shares of Tata Motors Limited traded 0.73% higher at ₹645 in the early hours of September 20, extending gains for the third session in a row after the company announced that it would increase the prices of its commercial vehicles up to 3%, effective October 1. India's biggest commercial vehicle manufacturer explained that they are raising prices across all their commercial vehicles to cover the lasting effects of previous increases in input costs. In the last six months, the Tata Motors stock has gained 56%, making it the

Tanushree Jaiswal || Shares of Blue Star, the prominent consumer durables company, witnessed an impressive 14% surge in their opening price today, reaching 52-week high of ₹909. This significant upturn comes as the company announced a qualified institutional placement (QIP) issue aimed at raising funds to fuel its growth aspirations. QIP Floor Price Set at ₹784.55 per Share The QIP floor price has been set at ₹784.55 per share, representing a modest 2% discount to the closing price of ₹800.05 on the previous trading day. It's noteworthy t

Tanushree Jaiswal || For the week commencing on 22nd April 2023, there are 8 NFO or new fund offerings of mutual funds available for investors. These funds range from a wide spectrum of equity, debt, and multi-asset funds. Here is a quick look at the eight funds available for subscription this week. Baroda BNP Paribas Value Fund This fund comes from the house of Baroda BNP Paribas Mutual Fund. This NFO is a pure equity open ended fund with the objective of generating long-term capital appreciation from a diversified portfolio o

Tanushree Jaiswal || HDFC Mutual fund will launch its new fund offering (NFO) of the proposed HDFC Defence Fund on 19th May 2023. Subscription to the NFO will close on 02nd June 2023 and once the allotment is completed, the fund will be available for NAV related sale and repurchase at NAV related prices. Highlights of the HDFC Defence Fund Here are some of the stand out features of the proposed NFO of HDFC Defence Fund. • The fund will invest in defence and aerospace stocks as well as in allied sectors. It will benchmark to the N

Tanushree Jaiswal || It is a known fact that FPIs have been major sellers in Indian equities since October 2021. In fact, between October 2021 and June 2022, the FPIs had sold equities to the tune of $33 billion. There has been some respite in the second half of 2022 but FPIs are back to their selling ways in 2023. However, the flows from mutual funds were exactly in contrast. For instance, mutual funds have infused Rs1.8 trillion into equities on a net basis in FY22 and an equivalent amount in FY23 too. That is seriously quite a lot and it act

5paisa Research Team || The COVID pandemic was almost like a turning point for the economy and the markets. It is now exactly over 3 years since the Nifty and Sensex made a bottom around the last week of March 2020 and started the post-COVID recovery. A lot has changed in the Indian markets since then. For starters, the equity markets have rallied to new highs and have held there despite bouts of corrections. Foreign portfolio investors started investing with a bang and infused billions of dollars into India in the post COVID scenario. However,

Shreya Anaokar || On 3rd August 2023, Adani Power announced its quarterly results for the last quarter of FY2023. Adani Power Financial Highlights: - Consolidated total revenue increased by 16.8% to Rs. 18,109 crore in the first quarter of FY24 compared to Rs. 15,509 crore in the same period of FY23, primarily as a result of greater one-time revenue recognition for regulatory claims and Late Payment Surcharge and stronger volumes. - Consolidated EBITDA increased by 41.5% in Q1 FY24 to Rs. 10,618 billion from Rs. 7,506 billion in Q1 FY23,

Shreya Anaokar || On 3rd August 2023, Adani Enterprises announced its quarterly results for the last quarter of FY2023. Adani Enterprises Financial Highlights: - Revenue from operations stood at Rs. 25,438.45 crores, dropping by 37.72 YoY. - EBITDA increased by 47% to Rs. 2,896 crores on account of strong operational growth - Net profit was reported at Rs. 676.93 crores, up by 44.41% YoY. Adani Enterprises Business Highlights: - AdaniConnex’s (ACX - Data Center) Orderbook of about 110 MW from Hyperscale & Enterprise customers

Shreya Anaokar || On 2nd August 2023, Titan Company announced its quarterly results for the last quarter of FY2023. Titan Company Financial Highlights: - Total income up by 21% YoY, at Rs. 11,070 Crores. - PBT was reported at Rs. 1002 crores, a drop by 2% YoY - PAT dropped by 4% to Rs. 756 Crores Titan Company Business Highlights: - Total Income of the Jewellery segment was reported at Rs.9,070 crores recording an increase of 19% compared to Q1FY23. The India business grew by 20% in the same period driven by healthy demand

Shreya Anaokar || On 2nd August 2023, Ambuja Cement announced its quarterly results for the last quarter of FY2023. Ambuja Cement Financial Highlights: - Net Revenue up by 9% YoY, at Rs. 8,713 Crores. - EBITDA rose by 55%, at Rs. 1,930 Crores and EBITDA margin expanded by 6.7% to 22.2% - Cost reduced by Rs, 348 PMT mainly driven by cost reduction journey and expected to further reduce given the various initiatives outlined. - PAT rose by 31% to Rs. 1135.46 Crores as compared to Rs. 865.49 Crores last year same quarter Ambuj

Tanushree Jaiswal || In a rather low-profile move, the RBI has decided to officially withdraw the ₹2,000 notes from the currency circulation. This will be effective from 30th September 2023. Between March 23, 2023 and September 30, 2023, the RBI will offer a special window for the people holding these ₹2,000 currency notes to either exchange their notes or deposit these notes into the bank account. Banks will offer this window only up to September end and after that the ₹2,000 note cannot be either exchanged or even deposited in any of the comm

5paisa Research Team || The Indian rupee is going through its worst crisis yet. On Tuesday, it sunk to its lowest yet, going below the psychologically crucial mark of 80 to the US dollar. The rupee went as low as 80.05 to the dollar, before it was helped back up by some intervention from the country’s central bank. The Reserve Bank of India pumped some US dollars into the currency markets to steady the currency slightly after it went down for the seventh consecutive trading session. Is the Indian rupee the only one that has been falling

5paisa Research Team || The income tax rebate limit increased from Rs 5 lakh to Rs 7 lakh under the new tax regime. On 1 February 2023, Finance Minister Nirmala Sitharaman presented the Union Budget for 2023-24, the budget involved changes in the tax slabs for the new tax regime. For people earning Rs 0 to 3 lakhs the tax rate is 0%, for people earning Rs 3 – 6 lakhs the rate is 5%, for people earning Rs 6 – 9 lakhs the rate is 10%, for people earning Rs 9 – 12 lakhs the rate is 15%, for people earning Rs 12 – 15 lakhs the rate is 20% and, f

5paisa Research Team || Here is what the union budget has offered for the healthcare and metal industry. Finance Minister Nirmala Sitharaman, on Wednesday, February 01, 2023, announced during the Union Budget session of 2023 the upcoming development in the Healthcare and Metal sector and informed the house that around 157 new nursing colleges are to be established in the core locations across the country this will make quality care accessible to a larger population. The budget also focuses on launching a new program to promote research in

5paisa Research Team || In her fifth Union Budget speech, FM Nirmala Sitharaman announced a mega capex plan of Rs 10 lakh crore for FY 2023-24, which is 33% higher than the budget estimate of Rs 7.5 lakh crore for 2022-23. Markets started with positive expectations heading into the budget as strong buying was witnessed across the broader market, with many stocks hitting fresh 52-week highs. However, a strong sell-off in the Adani Group stocks dented market sentiment as Nifty plunged over 500 points from the day’s high to slip below the 17,40

5paisa Research Team || In the Union Budget, Finance Minister Nirmala Sitharaman announced the highest-ever capital outlay for railways of Rs 2.4 lakh crore, which is nine times the amount of FY14. Significant gains in financial services and banking stocks helped Indian headline indices start on a brighter note. In the session's opening trades, broader indices outperformed main indices. While the Nifty 50 experienced a significant rally, the benchmark BSE Sensex crossed the critical 60,000 level. At 3:15 pm, the BSE Sensex surged 0.44%, r