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Waaree Renewables, Polycab, 9 more stocks to benefit from solar theme: JM Financial
| News
JM has picked Waree Renewable Technologies, Insolation Energy and Premier Energy and Infrastructure as its top bet in the segment along with eight other stocks from allied industries.
| News
Atul Mehra, the joint managing director at JM Financial Services, has resigned from his position after a 33-year tenure. He is set to join Axis Capital as the managing director and chief executive, filling the vacant position since December 2018. The role of interim managing director Salil Pitale, who has been in the position since 2018, is unclear. Mehra's resignation is effective by April 20, as he pursues alternative career opportunities. JM Financial Services recently ranked sixth in the Indian equity capital market league table, while Axis Capital fell to the ninth position.
Atul Mehra set to take charge as MD of Axis Capital
| News
At Axis Capital, Mehra will be responsible for overseeing equity capital markets, business operations, mergers and acquisitions, securities markets, research, institutional equities, loan syndication and other related business activities, said the people.
Focus on subscriber additions could be hurting Jio's ARPU
| News
Jio's ARPU remained flat sequentially at ₹181.7 in the quarter ended December 2023. The telco added 11.2 million users in the quarter, largely driven by strong adoption of the sub-₹1,000 JioBharat feature phone.
Rs 1 lakh-crore loss! HDFC Bank shares record worst day since Covid crash
| News
HDFC Bank, India's second most-valued stock, recorded its worst daily performance since the Covid crash 3 years ago, falling 8.5% and causing a market crash. Investors in the bluechip lost over Rs 1 lakh crore as the market capitalisation of the Nifty heavyweight fell to Rs 11.67 lakh crore. Several brokerages have reduced their target prices on the stock, contributing to the downfall.
Nifty looks strong; resistance at 21,800-21,850: Analysts
| News
After showing a sustainable upside bounce on Thursday, Nifty shifted into an up-move with volatility on Friday. An identical open and close pattern was formed on Friday, which indicates a type of doji pattern at the highs.
Sensex jumps 700 points to conquer Mt 72K. Key factors behind the post-Christmas bash
| News
UltraTech Cement ended over 4% higher, along with other cement stocks, after Nomura upgraded the sectoral outlook. Among bluechips, Hindalco and Bajaj Auto ended 4% higher while heavyweight HDFC Bank advanced 1%. The combined market capitalisation of all BSE-listed stocks rose by Rs 2.5 lakh crore to Rs 361.4 lakh crore.
IT stocks rally looks premature after Accenture's underwhelming guidance. Should you sell?
| News
Accenture reiterated its headline FY24 revenue growth guidance of 2-5% YoYcc but increased the inorganic contribution to more than 2% vs 2% earlier, which implies that FY24 organic growth guidance has been trimmed slightly. Management indicated no change in the demand environment – persistent weakness in BFS, CMT, and discretionary spends.
JM Financial initiates coverage on Mamaearth with a buy rating, lists 3 top triggers
| News
The company run by husband-wife co-founder duo of Varun and Ghazal Alagh capitalised on the "large unsolved need" for toxin-free baby and skin care products in India. While Varun comes from an FMCG market background (Coca-Cola, HUL, Diageo), Ghazal started her career as a corporate trainer.
| News
Decoding the trend, HSBC Securities analyst Amit Sachdeva said the mid and smallcap spaces are leading the rally, which can be best described as a typical bull run.
India banking scion eyes hiring push to meet dealmaking boom
| News
India has been one of the rare hotspots for mergers and acquisitions as well as share sales in recent years as investors bet on the nation’s fast-growing economy. The South Asian country has seen more than $21 billion raised through sales of new and existing shares as well as rights offerings so far this year, data compiled by Bloomberg shows, defying a weak global market as interest rates jumped.
DOMS Industries IPO subscribed 15 times on day 2 of bidding process. Check GMP and other details
| News
DOMS IPO comprises fresh equity issue worth Rs 350 crore along with an offer for sale (OFS) of Rs 850 crore. Under the OFS, promoters Fabbrica Italiana Lapis, Sanjay Mansukhal Rajani and Keta Mansukhal Rajani will offload shares.
22 multicap PMS funds give double-digit returns of up to 24% in a month; outperform smallcaps
| News
Credent Asset Management’s Growth Portfolio multicap strategy topped the list, giving 24.3% returns in a month, according to data shared by PMS Bazaar.
Fundamental Radar: Why Balrampur Chini is well placed to ride over ethanol production restrictions?
| News
Analysts at JM Financial Institutional Securities don’t see these measures having any material impact on Balrampur Chini’s bottomline as lower distillery volume will be offset by higher sugar sales/profits, higher B molasses-based ethanol volume, and higher average sugar realisation.
DOMS Industries IPO: Here are 10 things to know about the public offer
| News
Doms Industries designs, develops, manufactures, and sells a wide range of 'stationery and art' products, primarily under its flagship brand 'Doms', in the domestic market as well as in over 40 countries internationally. Its core products such as pencils and mathematical instrument boxes enjoy high market shares -- 29% and 30% by value in FY23 respectively
Tata Power becomes 6th Tata group firm to cross Rs 1 lakh-crore market cap
| News
Tata Power’s market cap stood at Rs 102,170.98 lakh crore in early afternoon session. The price action was supported by strong volumes with nearly 8 crore shares changing hands around 1 pm. On December 6, the market cap of Tata Power stood at Rs 93,974.94 crore.
Fedbank Financial stock lists at 2% discount over issue price
| News
Fedbank Financial is one among five private bank-promoted NBFCs in India, focusing on catering to the MSMEs and the emerging self-employed individuals sector. It is the fastest growing gold loan NBFC in India among its peers and has the second lowest cost of borrowing among the MSMEs, gold loan peer set in India in FY23.
IIM Udaipur-JM Financial to set up JM Financial Centre for Financial Research
| News
IIM Udaipur is establishing the JM Financial Centre for Financial Research in partnership with JM Financial. This initiative, part of JM Financial's CSR, coincides with the group's 50th anniversary. The center aims to facilitate academic research, host workshops, and industry talks in finance, collaborating with BFSI and regulatory bodies. An advisory board with experts from BFSI, fintech, and academia will guide the center. Additionally, a yearly Rs. 3 lakh JM Financial Merit Award will be given to the top finance student in IIMU's MBA program.
Hot Stocks: Brokerages view on Siemens and PCBL
| News
Meanwhile, JM Financial and Nuvama retain their buy rating on the latter, after the company approved acquisition of shares of a chemical company.
Fed pause in rate hikes has to led to risk-on trade but India geared to outperform
| News
With the Fed pausing hike in interest rates in November and US inflation slowing down from 3.7% to 3.2% and core CPI falling to 4%; the US 10-year interest rates fell almost 50 bps to 4.4% and Barclay’s Agg. Bond Index moved up 4%. This led to Euphoria in the Global Equity markets; NASDAQ moving up 9%, MSCI EM up 6% and MSCI World up 7%, outperforming MSCI India which was up only 2%.
ASK Automotive shares list at 8% premium over IPO price
| News
"We strongly believe that ASK Automotive gives allotted investors a long-term opportunity to hold and raid the growth in automobile sector. All allotted investors can hold for long term, while those who failed to get allotments, can accumulate on the listing day," said Prashanth Tapse, Research Analyst-Sr VP Research, Mehta Equities.
Four companies fined for failing to hire female directors
| News
The Registrar of Companies (RoC) under the MCA has imposed penalties of ₹485,000 each on JM Financial Properties and Holdings, Shankar Packagings and Krishna Solvechem and some of their key executives since mid-October, according to a copy of the RoC orders seen by ET.
Fundamental Radar: Why Samvardhana Motherson presents multi-year growth opportunity?
| News
With the recovery in the automotive volumes in H2 of FY24, growth momentum is expected to continue, going ahead, believe analysts.
CarTrade shares jump 13% on strong Q2 earnings, hit 52-week high
| News
Today's gains take stocks' rally to seven sessions in a row. The price action was supported by volumes as 16 lakh shares changed hands on the NSE around 11:15 am.
HNIs should look at gold as an investment option: Anuj Kapoor, JM Financial
| News
The MD & CEO of JM Financial explains why HNIs should look at gold as an investment option and how the diversified alternatives and private market investment are becoming popular among HNIs and UHNIs.
Alok Industries to raise Rs 3,300 crore from RIL
| News
In a regulatory filing, Alok Industries said, "the company is issuing Rs 3,300 crore NCRPS of Re 1 each in one or more tranches on a private placement basis to Reliance Industries."
JM Financial Q2 Results: revenue up 38% YoY to Rs 1214 crore
| Earnings
The company has posted a net profit of Rs.195 crore for Q2 FY24 as against a net profit of Rs.180 crore for the period Q2 FY23, a growth of 8%.
JM Financial Q2 revenue up 38%, profit rises to Rs 195 crore
| Earnings
JM Financial recorded a total revenue of Rs. 1214 crore, reflecting a substantial 38% increase from the Rs. 877 crore reported during the same period in 2022. Furthermore, JM Financial reported a net profit of Rs. 195 crore for Q2 FY24, marking an 8% growth compared to the net profit of Rs. 180 crore in Q2 FY23.. The company's consolidated loan book expanded to Rs. 15,808 crore.
Dr Lal Path Labs shares jump 7% on Q2 earnings, Apollo Hospitals top Nifty gainer
| News
The stock was also the top gainer in the Nifty Healthcare index, riding on which the index became the top performer among its Nifty peers.
Suzlon Energy shares hit 5% upper circuit after Q2 profit rises 79% YoY. What should investors do?
| News
Suzlon said its service business continues to do well while forging and foundry business SE Forge consolidated on its foundation for future growth. The company has a net cash of Rs 599 crore by September 2023, which is a marked shift from net debt of Rs 1,180 crore in March 2023.
187 companies to release Q2 results on Friday. What to expect from IndiGo, Titan and Zomato
| Earnings
Despite a lower passenger load factor, IndiGo managed to maintain its market share in the quarter. PLF for IndiGo remained muted for the second consecutive month at 83.6%. But IndiGo being able to maintain domestic market share despite lower PLFs indicates better aircraft/pilot availability with it versus other airlines, brokerage ICICI Securities said.
Airtel FY24 annual capex like at Rs 28,000 cr-Rs 31,000 cr: Analysts
| News
Bharti Airtel, India’s second largest telco, is expected to spend up to another Rs 14, 000 crore in capex spending towards 5G rollout and rural 4G expansion, with the spending on this account expected to moderate from FY25 onwards, analysts said.
State Bank of India's debt sale could prove costly for other lenders: Bankers
| News
Canara Bank, Bank of India and IDFC First Bank are among the lenders looking to issue Tier-II bonds in the coming weeks on expectations that interest rates will remain elevated in the near term, merchant bankers said.
Fundamental Radar: Why is RR Kabel a promising investment bet in FMEG space?
| News
The domestic wires and cables industry is estimated to see a compounded annual growth of 13% over FY23-27, on the back of growth in real estate and infrastructure investments.The Indian wires and cables exports are expected to grow at a strong pace over the medium term on the back of the ‘China+1’ strategy of most global customers.
Nifty revival hinges on dollar retreat
| News
Does this mean India, with world-leading growth prospects by even the most conservative of assessments, is immune to the unrelenting northward march in global risk-free rates that are at their highest since the Global Financial Crisis? Well, not quite. Rather, a relatively circ*mspect pace of ascent for the US Dollar Index explains the soft landing in Indian equities thus far.
Vodafone Idea Q2 Preview: Firm to see moderate revenue growth; ARPU may rise 2-3% QoQ
| Earnings
Vodafone Idea’s net loss for the quarter ended September is seen reducing marginally to around Rs 7,770 crore, compared with Rs 7,840 crore loss in the June quarter. Investors would watch out for the management commentary on the update on fund-raising and the arrest subscriber decline
2Q customer churn: Vi’s loss means gain for Reliance Jio, Bharti Airtel
| News
Reliance Jio and Bharti Airtel are expected to see user growth in the second quarter, while Vodafone Idea continues to struggle with customer churn. Vi is predicted to have lost 4.5 million customers due to liquidity issues preventing network investment. Bharti Airtel's ARPU is expected to grow sequentially, but its consolidated performance may be slow due to stress on its Africa business
Paytm shares fall 5% post Q2 earnings. Should you buy stock?
| News
Brokerages viz. Goldman Sachs, Citi, CLSA, BofA, Motilal Oswal, JM Financial and Dolat Analysis & Research Themes (DART) recommended a buy on the stock.
CreditAccess Grameen shares zoom over 12% on strong Q2 results. Should you buy, sell or hold?
| News
The lender's total income rose by 53% at Rs 1,248 crore, while net interest income rose by nearly 50% at Rs 772 crore. Pre-provision operating profit increased by 68% at 563 crore. The NBFC-MFIs gross loan portfolio grew 36% year-on-year (YoY) to Rs 22,488 crore, while the customer base expanded 21% to 46.03 lakh at the end of September.
Will the high interest rate regime in the US affect Indian markets?
| News
A lot also depends on what the market is expecting, however a HIGH for long interest rates can certainly put pressure on global economic growth as well as market multiples.
As a financial expert with a deep understanding of the market dynamics and a track record of successful analyses, let's delve into the information presented in the article. The article covers various aspects of the financial market, including stock recommendations, personnel changes in financial institutions, market performance, and specific stock movements. Here's a breakdown of the key concepts used in the article:
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Waaree Renewables, Polycab, and Solar Theme Stocks:
- JM Financial has identified Waaree Renewable Technologies, Insolation Energy, and Premier Energy and Infrastructure as top bets in the solar theme, along with eight other stocks from allied industries.
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Atul Mehra's Resignation and Move to Axis Capital:
- Atul Mehra, joint managing director at JM Financial Services, resigned after a 33-year tenure and is set to join Axis Capital as managing director and chief executive.
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Jio's ARPU and Subscriber Additions:
- Reliance Jio's Average Revenue Per User (ARPU) remained flat sequentially at ₹181.7 in the quarter ended December 2023. The telco added 11.2 million users in the quarter, largely driven by strong adoption of the sub-₹1,000 JioBharat feature phone.
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HDFC Bank's Market Performance:
- HDFC Bank, India's second most-valued stock, recorded its worst daily performance since the Covid crash, falling 8.5% and causing a market crash.
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Nifty and Sensex Performance:
- The article mentions the performance of Nifty and Sensex on specific dates, highlighting factors such as upgrades in sectoral outlook contributing to market gains.
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IT Stocks Rally and Accenture's Guidance:
- The article discusses the rally in IT stocks and questions whether it looks premature after Accenture's underwhelming guidance for FY24.
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Stock Initiations and Recommendations:
- JM Financial initiates coverage on Mamaearth with a buy rating, listing three top triggers. Additionally, there is coverage on other stocks with buy recommendations.
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IPOs and Market Capitalization:
- Information on various IPOs, including DOMS Industries, and the market capitalization of Tata Power crossing Rs 1 lakh crore.
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Corporate Actions and Partnerships:
- Alok Industries raising Rs 3,300 crore from Reliance Industries, IIM Udaipur partnering with JM Financial for the JM Financial Centre for Financial Research.
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Earnings Reports:
- Quarterly earnings reports for companies like JM Financial, Dr Lal Path Labs, Suzlon Energy, CarTrade, Paytm, and CreditAccess Grameen.
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Market Factors:
- Discussions on global market factors such as the Fed's pause in rate hikes and its impact on the risk-on trade, as well as the influence of the US Dollar Index on Indian equities.
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Telecom Sector:
- Insights into the telecom sector, including Vodafone Idea's expected Q2 results and Vi's customer churn issues.
In conclusion, the article provides a comprehensive overview of recent events and trends in the financial market, offering valuable insights for investors and stakeholders.
