Certainty in the election outcome and renewed foreign investor inflows into Indian equities have pushed benchmark indices to new peaks for two consecutive sessions. However, the banking index has not mirrored this trend. Does the election impact the banking sector? If yes, would a likely third term for Modi benefit private banks or public sector … Read more
Shares of Finolex Cables surged over 14 percent in intra-day deals on Friday to its record high of ₹1,308.25 after the company posted better-than-expected results for the quarter ended March 2024 (Q4FY24). The firm posted a 6.3 percent year-on-year (YoY) increase in its consolidated net profit at ₹186.1 crore for the fourth quarter of FY24 … Read more
Naveen Kulkarni, Chief Investment Officer, Axis Securities PMS, believes that BJP not winning 400 seats will not be negative for the market at all. A stable and predictable political regime is most important right now. Therefore, irrespective of the outcome, it won’t significantly affect the market, he explained. Kulkarni further noted that if FIIs are … Read more
In this environment, Deepak Shenoy, founder and CEO of Capitalmind, launched a momentum strategy in his portfolio management service (PMS). In May 2020, he published a whitepaper showing that even the simplest momentum strategies had beaten the broader market since 2000. Momentum investing broadly involves buying the fastest-rising stocks in the hope they will continue … Read more
Guin began his career in software sales, but now works in a strategy role at a large telecom firm, which he transitioned to after earning an executive MBA at the Indian Institute of Management, Ahmedabad. He discovered the FIRE movement on social media in 2018, but his interest deepened during the covid pandemic in 2020. … Read more
On Wall Street in the week ahead, the spotlight will be on the minutes of the Federal Reserve’s last monetary policy meeting and first quarter earnings from the chip giant Nvidia. Both the events are scheduled for Wednesday. In other economic developments, investors will closely watch for Fed chair Jerome Powell’s commencement remarks and home … Read more
Shares of Finolex Industries surged 9.6 percent in intra-day deals on Tuesday to their record high of ₹297.55 apiece after the firm announced its March quarter (Q4FY24) results. The firm posted about a 2 percent year-on-year (YoY) rise in its standalone profit after tax to ₹161.43 crore in Q4FY24 on the back of higher revenues … Read more
Investors on Wall Street in the week ahead will look for two major economic data – consumer price inflation and US retail sales – apart from other reports and corporate earnings. Both, inflation and retail sales data have the potential to influence the Federal Reserve’s monetary policy. In earnings, retail giant Walmart and Home Depot … Read more
Amid steep volatility, expiring weekly index options and foreign investor selling, the bellwether Nifty plunged 1.55% to 21,957.5, its biggest single-day fall since 17 January, while the Sensex fell 1.45% or 1,062 points to 72,404.17, its worst since 23 January. Nifty’s top five losers alone accounted for almost three-fifths of the index’s 345-point fall. Foreign … Read more
Shares of gold financing companies – Muthoot Finance, and Manappuram Finance – were trading under pressure on Thursday after the Reserve Bank of India (RBI) sent the companies an advisory concerning cash disbursal of loans. The RBI has instructed Non-Banking Financial Companies (NBFCs) to strictly follow the provisions of the Income Tax Act regarding cash … Read more