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update 25 Nov 03:00 AM open_in_new  EquityMaster

Falling Gold Prices, Franklin Templeton Fiasco, and Top Buzzing Stocks Today


Posted by Equitymaster On Tuesday, Indian share markets witnessed positive trading activity throughout the day and ended on a strong note. Both the benchmark indices logged their respective fresh lifetime highs in intra-day deals, with the NSE Nifty index hitting 13,000 for the first time ever. At the closing bell yesterday, the BSE Sensex stood higher by 446 points (up 1%). Meanwhile, the NSE Nifty closed higher by 129 points (up 1%). Axis Bank and HDFC Bank were among the top gainers. On the sectoral front, gains were largely seen in the banking sector, automobile sector and finance sector. --- Advertisement --- India's Secret Plan to Beat China Takes Shape China is playing dirty since the past few months. Under the garb of military exercises, they shored up their troops at the border region in Ladakh. What do they want? A war with India? If that's the case, then India needs to be more ready than ever before. India has already started deploying high-tech weapons at our borders. It is estimated that the Indian government could spend over Rs 4 lakh crore on such defence equipment over next 5-7 years... Pumping hundreds or even thousands of crores into a few Indian defence companies in the coming years... As a result, select Indian defence companies could benefit in a huge way... and their stock prices could shoot up like never before... Especially this one stock, which we call India's #1 defence stock. It's a potential 10x opportunity in the long term. We'll reveal all the details about this huge opportunity at our Explosive Profits Summit. Click here to sign-up instantly here. It's free. ------------------------------ Here are Top 5 Factors Why Indian Stock Markets Rallied Yesterday Vaccine Progress: AstraZeneca said its Covid-19 vaccine, cheaper to make, easier to distribute and faster to scale-up than its rivals, could be as much as 90% effective. Improving Business Activity: US business activity expanded at the fastest rate in more than five years in November led by the quickest pickup in manufacturing since September 2014, fueling optimism of a swift recovery. Positive Global Markets: Asian shares edged higher today as progress in developing an inexpensive coronavirus vaccine boosted hopes of a swift global economic recovery while European shares gained as a possible easing of lockdowns in France added to a brighter mood from encouraging developments related to coronavirus vaccines. Banking Stocks Rally: Stocks from the banking sector witnessed huge buying interest today with the Nifty Bank index rising as much as 2.5%. Axis Bank, HDFC Bank, SBI, ICICI Bank and Kotak Mahindra Bank gained in the range of 2-4%. FII Inflows: Foreign institutional investors continued to pour in money into Indian share markets. FIIs invested nearly Rs 510 billion in the month of November, which is the highest every monthly flow into Indian equities. We will keep you updated on how these factors develop in the coming days and what effect they have on Indian stock markets. Stay tuned! REVEALED: How to Unlock Almost 3x More Gains Post the Corona-Crisis... Speaking of stock markets, in her latest video, Co-head of Research at Equitymaster, talks about yet another stock like ITC, that has underperformed in recent months. She talks about Mahindra & Mahindra (M&M), the ITC of the auto sector. In the video, Tanushree also explains whether M&M has upside from the perspective of growth or value? Tune in to the video to find out more: Top Stocks in Focus Today Adani Ports and Special Economic Zone will be among the top buzzing stocks today. Adani Ports and SEZ share price said it ranked 14th in the transportation and transportation infrastructure sector of Dow Jones Sustainability Emerging Markets Index, 2020. Adani Ports is the only company from India to have been included in this sector. Mindtree share price will also be in focus today as the company has signed a five-year deal with leading wind turbine maker, The Nordex Group to simplify, modernize and transform the company's entire IT landscape globally while providing scalability to support its growth plans. --- Advertisement --- For Those Looking to Buy Stocks If you're looking to buy stocks now, then we've uncovered 3 great stocks for you. Our research says, these stocks have the potential to create a wave of Indian millionaires. Get the Details Now ------------------------------ Market participants will also track Motherson Sumi share price. Motherson Sumi, India's biggest auto-component manufacturer, is pursuing multiple buyout deals, some of which will be made public in the final quarter of the year. The buyouts are a part of the company's vision of tripling revenues by FY25 to US$ 36 billion from US$ 12 billion under the Vision 2025 plan. Since 2002, Motherson Sumi Systems (MSSL) has made 24 acquisitions in the automotive and non-automotive segments, with the latest being the business assets of Bombardier's Mexico unit. Franklin Templeton Fiasco In news from the mutual funds space, Franklin Templeton Mutual Fund has moved the Supreme Court (SC) against the Karnataka High Court (HC) order that upheld the view that unitholders' consent is a must before wind-up of any mutual fund (MF) scheme. Sanjay Sapre, President, Franklin Templeton MF said that post the judgement of the Karnataka HC, Franklin Templeton MF considered all possible options over the last few weeks to start returning money to unitholders in the shortest possible time in an orderly manner. This included the option of seeking unitholder consent according to the judgment of the Hon'ble High Court. The development comes as last month, the Karnataka HC held the view that unitholders' consent was a must to wind up any MF schemes. In the 333-page order, the High Court examined various aspects of the matter including the role of the Indian stock market regulator and trustees in Franklin Templeton's decision to wind up six of its debt schemes. A large part of HC's order was related to the existing regulatory guidelines for winding up any mutual fund scheme. As of November 13, 2020, Franklin Templeton's six shut schemes have received total cash flows of Rs 96.8 billion, since April 24, 2020. The cash available stands at Rs 59.5 billion as for the four cash-positive schemes, subject to fund-running expenses. Among individual schemes, Franklin India Ultra Short Bond Fund and Franklin India Low Duration Fund have 43% and 27% of their assets in cash. Franklin India Dynamic Accrual Fund and Franklin India Credit Risk Fund have 26% and 8% of their assets in cash. Last week, Franklin Templeton Mutual Fund said its six shut schemes have received Rs 9.4 billion from maturities, pre-payments and coupon payments in a fortnight. On April 23, Franklin Templeton shut six debt mutual fund schemes, citing redemption pressures and lack of liquidity in the bond market, following the Covid-19 outbreak. According to estimates, around 3,00,000 investors are impacted by Franklin Templeton's move to wrap up six of its yield-oriented debt schemes. Speaking of the Franklin Templeton fiasco and mutual funds, Ajit Dayal, founder of Quantum group, talks about the corruption in the Indian mutual fund industry, in one of his articles. You can read the same here: Black swans, Black crows and Fund lies Vijay Bhambwani also recorded a video on the analysis of the above situation and his recommendation for debt fund investors. You can check the same here: What the Franklin Templeton Fiasco Means for Traders Gold Prices Fall on Vaccine Optimism In news from the commodity space, domestic gold and silver prices fell sharply on Tuesday, continuing their weak trend of recent weeks. Gold prices for the latest contract on MCX fell as much as 1.7% to Rs 48,650 per 10 grams. Silver also faced selling pressure as it tumbled by Rs 1,588 to Rs 59,301 per kg from Rs 60,889 per kg in the previous trade. On Monday, gold prices had slumped Rs 750 or 1.5% per 10 gram while silver had tumbled Rs 1,628 or 2.6% per kg. In global markets, gold rates dropped to the lowest level in four months amid optimism over Covid-19 vaccine developments. After hitting a record high of Rs 56,200 in August, gold prices have slumped amid vaccine progress and the recent outflow from gold-backed exchange-traded funds. Speaking of gold, in one of his videos, India's #1 trader, Vijay Bhambwani talks about whether you should buy gold now. Vijay shares what implications the recent fall in gold prices could have for gold as an investment. Tune in here to find out more: To know more about gold, you can check out our detailed article on investing in gold here: How to Invest in Gold? India's Solar Power Tariffs Hit New Record Low India's solar power tariffs hit a new record low of Rs 2 per unit during a bid conducted by state run Solar Energy Corporation of India (SECI). The previously lowest recorded solar tariff in the country was of Rs 2.36 per unit. Saudi Arabia' Aljomaih Energy and Water Company and Singapore headquartered Sembcorp's India arm' Green Infra Wind Energy placed the winning bids of Rs 2 per kilowatt-hour (kWh) to win the contracts to build 200 MW and 400 MW of solar projects respectively. State run NTPC placed the second lowest winning bid of Rs 2.01 per unit to secure the balance 470 MW capacity. The bids comes in the backdrop of fund-starved state electricity distribution companies (discoms) unwilling to sign contracts with intermediary procurers such as SECI for these previously-awarded projects at a comparatively higher tariff. Due to the recent low-price bids, the discoms are tariff-shopping and are reluctant to ink power supply agreements (PSAs) for these projects. We will keep you updated on the latest developments from this space. Stay tuned. To know what's moving the Indian stock markets today, check out the most recent share market updates here. This article (Falling Gold Prices, Franklin Templeton Fiasco, and Top Buzzing Stocks Today) is authored by Equitymaster. Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

update 24 Nov 09:35 PM open_in_new  MoneyControl

India's tour of Australia 2020: Will WFH give a boost to viewership figures?


The broadcast rights holder Sony Pictures Sports Networks too is expecting to cash in on the pent-up demand for live Indian cricket team action.

update 24 Nov 08:07 PM open_in_new  MoneyControl

Insurance startup Digit set to break even by the end of this year


Lower operating costs, massive equity funding and improved business metrics have bolstered the insurance upstart’s performance, even in the face of a raging pandemic that has left many other insurers reeling

update 24 Nov 06:17 PM open_in_new  MoneyControl

Coal India to setup 3 GW solar power projects worth Rs 5,650 crore by 2023-24


Of the Rs 5,650 crore investment, Rs 3,650 is planned from CIL’s capex till 2023-24, while the rest will be funded through joint venture models

update 24 Nov 05:23 PM open_in_new  MoneyControl

upGrad acquires The GATE Academy, forays into test-preparation space


Post the acquisition, The GATE Academy will operate as a subsidiary of upGrad and will continue with its brand name.

update 24 Nov 05:04 PM open_in_new  MoneyControl

COVID vaccine | Sputnik V shows 91.4% efficacy in second interim analysis on day 28 after first dose


The cost of one dose of the Sputnik V vaccine for international markets will be less than $10. Sputnik V is a two dose vaccine.

update 24 Nov 03:49 PM open_in_new  MoneyControl

Aarogya Setu app | Only snippet not ‘back-end code’ released by Centre: Security experts


A good way to identify true back-end code experts say is that it will allow one to run their own versions of the app in question. What is given now they say is snippets of the open-sourced front-end.

update 24 Nov 03:46 PM open_in_new  MoneyControl

COVID-19 vaccine: India Aatmanirbhar for syringes, says industry


This capacity is already built up by the manufacturers taking learning from mask and PPE kits experience India faced in March and April 2020, All India Syringe Needle Manufacturers Association (AISNMA) said in the letter.

update 24 Nov 03:34 PM open_in_new  EquityMaster

LAKSHMI MACHINE at 52 Week High; BSE 500 Index Up 1.0%


Posted by Equitymaster LAKSHMI MACHINE share price has hit a 52-week high at Rs 4,452 (up 2.5%). Meanwhile, the BSE 500 Index is at 17,042 (up 1.0%). Among the top gainers in the BSE 500 Index today are LAKSHMI MACHINE (up 2.5%) and SUNTECK REALTY (up 11.7%). INOX WIND (down 10.0%) and LAKSHMI VILAS BANK (down 9.9%) are among the top losers today. Over the last one year, LAKSHMI MACHINE has moved up from Rs 3,366 to Rs 4,452, registering a gain of Rs 1,087 (up 31.99%). The BSE 500 has moved up from 15,462 to 17,042, registering a gain of 1,580 points (up 10.2%) during the last 12 months. The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 1117.7%), DIXON TECHNOLOGIES (up 251.2%) and GRANULES INDIA (up 225.1%). Latest: Chinese Aggression on the Border Triggers a Huge Opportunity What About the Benchmark Indices? The BSE Sensex is at 44,582 (up 1.1%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 3.6%), M&M (up 3.5%) and HDFC BANK (up 3.3%). Other gainers include ITC (up 2.4%) and SBI (up 2.4%). The most traded stocks in the BSE Sensex are SBI and ITC. In the meantime, NSE Nifty is at 13,079 (up 1.2%). ADANI PORTS & SEZ (up 4.6%) and AXIS BANK (up 4.0%) are among the top gainers in NSE Nifty. Over the last 12 months, the BSE Sensex has moved up from 40,652 to 44,582, registering a gain of 3,930 points (up 9.6%). LAKSHMI MACHINE Financial Update... LAKSHMI MACHINE net profit stood at Rs 79 million for the quarter ended September 2020, compared to a profit of Rs 65 million a year ago. Net Sales rose 20.3% to Rs 3.8 billion during the period as against Rs 3.2 billion in July-September 2019. For the year ended March 2019, LAKSHMI MACHINE reported 1.8% increase in net profit to Rs 2.2 billion compared to net profit of Rs 2.2 billion during FY18. Revenue of the company grew 2.6% to Rs 27 billion during FY19. The current Price to earnings ratio of LAKSHMI MACHINE, based on rolling 12 month earnings, stands at 2099.2x. This article (LAKSHMI MACHINE at 52 Week High; BSE 500 Index Up 1.0% ) is authored by Equitymaster. Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

update 24 Nov 03:26 PM open_in_new  EquityMaster

INDIAN OVERSEAS BANK Share Price Up by 7%; BSE BANKEX Index Up 2.3%


Posted by Equitymaster INDIAN OVERSEAS BANK share price has zoomed 7% and is presently trading at Rs 10. Meanwhile, the BSE BANKEX Index is at 34,162 (up 2.3%). Among the top Gainers in the BSE BANKEX Index today are INDIAN OVERSEAS BANK (up 6.5%) and RBL BANK (up 6.0%). Over the last one year, INDIAN OVERSEAS BANK has moved down from Rs 11 to Rs 10, registering a loss of Rs 0 (down 2.8%). On the other hand, the BSE BANKEX has moved down from 35,463 to 34,162, loss of 1,301 points (down 3.8%) during the last 12 months. The top buzzing stocks among the BSE BANKEX Index stocks during this same period were KOTAK MAHINDRA BANK (up 20.3%) and HDFC BANK (up 12.7%). Latest: Chinese Aggression on the Border Triggers a Huge Opportunity What About the Benchmark Indices? The BSE Sensex is at 44,572 (up 1.0%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 4.1%), M&M (up 3.5%) and HDFC BANK (up 2.9%). Other gainers include ITC (up 2.4%) and MARUTI SUZUKI (up 2.4%). The most traded stocks in the BSE Sensex are SBI and ITC. In the meantime, NSE Nifty is at 13,071 (up 1.1%). The top gainers in the NSE Nifty include ADANI PORTS & SEZ (up 4.4%), HINDALCO (up 3.7%) and EICHER MOTOR (up 3.7%). Other gainers include AXIS BANK (up 3.7%) and M&M (up 3.5%) are among the top gainers in NSE Nifty. Over the last 12 months, the BSE Sensex has moved up from 40,652 to 44,572, registering a gain of 3,920 points (up 9.54%). INDIAN OVERSEAS BANK Financial Update... INDIAN OVERSEAS BANK net profit down at Rs 61 billion for the quarter ended December 2019, compared to a loss of Rs 3 billion a year ago. Operating income declined 4.2% to Rs 43.5 billion during the period as against Rs 45.4 billion in October-December 2018. For the year ended March 2019, INDIAN OVERSEAS BANK reported 40.7% decrease in net profit to Rs 37.4 billion compared to net profit of Rs 63.0 billion during FY18. Revenue of the company grew 1.6% to Rs 176 billion during FY19. The current Price to earnings ratio of INDIAN OVERSEAS BANK, based on rolling 12 month earnings, stands at down 0.9x. This article (INDIAN OVERSEAS BANK Share Price Up by 7%; BSE BANKEX Index Up 2.3%) is authored by Equitymaster. Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

update 24 Nov 03:22 PM open_in_new  MoneyControl

Your insurer now has higher responsibility to hand over unclaimed amounts - here is why


Policyholders have up to 25 years after the dues are transferred to the Senior Citizens Welfare Fund to claim any dues from the insurance companies

update 24 Nov 03:22 PM open_in_new  EquityMaster

BAJAJ HOLDINGS & INVESTMENT Share Price Down by 5%; BSE 500 Index Up 0.9%


Posted by Equitymaster BAJAJ HOLDINGS & INVESTMENT share price has plunged 5% and is presently trading at Rs 3,351. Meanwhile, the BSE 500 Index is at 17,042 (up 0.9%). Among the top losers in the BSE 500 Index today are BAJAJ HOLDINGS & INVESTMENT (down 5.0%) and INFIBEAM AVENUES (down 5.4%). RELIANCE CAPITAL (up 9.9%) and VA TECH WABAG (up 6.9%) are among the top gainers today. Over the last one year, BAJAJ HOLDINGS & INVESTMENT has moved down from Rs 3,699 to Rs 3,351, registering a loss of Rs 348 (down 9.4%).. The BSE 500 has moved up from 15,462 to 17,042, registering a gain of 1,580 points (up 10.2%) during the last 12 months. The top buzzing stocks among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 1122.7%), LAURUS LABS (up 325.1%) and DIXON TECHNOLOGIES (up 249.8%). Latest: Chinese Aggression on the Border Triggers a Huge Opportunity What About the Benchmark Indices? The BSE Sensex is at 44,572 (up 1.0%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 4.1%). The most traded stocks in the BSE Sensex are SBI and ITC. In the meantime, NSE Nifty is at 13,070 (up 1.0%). ADANI PORTS & SEZ (up 4.5%) and AXIS BANK (up 4.2%) are among the top gainers in NSE Nifty. Over the last 12 months, the BSE Sensex has moved up from 40,652 to 44,572, registering a gain of 3,920 points (up 9.48%). BAJAJ HOLDINGS & INVESTMENT Financial Update... BAJAJ HOLDINGS & INVESTMENT net profit stood at Rs 3 billion for the quarter ended April 2008, compared to a profit of Rs 3 billion a year ago. Net Sales declined 86.2% to Rs 3.6 billion during the period as against Rs 26.3 billion in February-April 2007. For the year ended March 2007, BAJAJ HOLDINGS & INVESTMENT reported 18.8% increase in net profit to Rs 13.0 billion compared to net profit of Rs 10.9 billion during FY06. Revenue of the company grew 24.4% to Rs 106 billion during FY07. The current Price to earnings ratio of BAJAJ HOLDINGS & INVESTMENT, based on rolling 12 month earnings, stands at 31.1x. This article (BAJAJ HOLDINGS & INVESTMENT Share Price Down by 5%; BSE 500 Index Up 0.9%) is authored by Equitymaster. Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

update 24 Nov 03:01 PM open_in_new  MoneyControl

India's two-wheeler exports to see sustained growth in H2 FY22: Ind-Ra


Exports momentum is expected to continue in the remaining part of FY21 and FY22, primarily driven by the exporting countries'' lower penetration level, demand for usage as commercial fleet, stability in crude prices, lack of public infrastructure and aversion to public transport amid COVID-19, India Ratings and Research said in a statement.

update 24 Nov 02:50 PM open_in_new  EquityMaster

NAVA BHARAT VENTURES Share Price Up by 11%; BSE 500 Index Up 0.9%


Posted by Equitymaster NAVA BHARAT VENTURES share price has zoomed 11% and is presently trading at Rs 52. Meanwhile, the BSE 500 Index is at 17,042 (up 0.9%). Among the top Gainers in the BSE 500 Index today are NAVA BHARAT VENTURES (up 10.9%) and SUNTECK REALTY (up 13.7%). UCO BANK (down 0.1%) and SADBHAV ENGINEERING (down 0.1%) are among the top losers today. Over the last one year, NAVA BHARAT VENTURES has moved down from Rs 64 to Rs 52, registering a loss of Rs 12 (down 19.2%). On the other hand, the BSE 500 has moved up from 15,462 to 17,042, registering a gain of 1,580 points (up 10.2%) during the last 12 months. The top buzzing stocks among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 1132.0%), LAURUS LABS (up 325.5%) and DIXON TECHNOLOGIES (up 249.8%). Latest: Chinese Aggression on the Border Triggers a Huge Opportunity What About the Benchmark Indices? The BSE Sensex is at 44,572 (up 1.0%). The top gainers among the BSE Sensex stocks today are M&M (up 4.2%), HDFC BANK (up 3.6%) and AXIS BANK (up 3.3%). Other gainers include MARUTI SUZUKI (up 2.6%) and ITC (up 2.2%). The most traded stocks in the BSE Sensex are SBI and ONGC. In the meantime, NSE Nifty is at 13,070 (up 1.0%). The top gainers in the NSE Nifty include ADANI PORTS & SEZ (up 4.8%), M&M (up 4.2%) and HINDALCO (up 3.9%). Other gainers include HDFC BANK (up 3.6%) and EICHER MOTOR (up 3.5%) are among the top gainers in NSE Nifty. Over the last 12 months, the BSE Sensex has moved up from 40,652 to 44,572, registering a gain of 3,920 points (up 9.53%). NAVA BHARAT VENTURES Financial Update... NAVA BHARAT VENTURES net profit stood at Rs 961 million for the quarter ended June 2020, compared to a profit of Rs 549 million a year ago. Net Sales rose 10.3% to Rs 6.0 billion during the period as against Rs 5.4 billion in April-June 2019. For the year ended March 2018, NAVA BHARAT VENTURES reported 1849.4% increase in net profit to Rs 2.8 billion compared to net profit of Rs 143.0 million during FY17. Revenue of the company grew 69.3% to Rs 23 billion during FY18. The current Price to earnings ratio of NAVA BHARAT VENTURES, based on rolling 12 month earnings, stands at 2.1x. This article (NAVA BHARAT VENTURES Share Price Up by 11%; BSE 500 Index Up 0.9%) is authored by Equitymaster. Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

update 24 Nov 02:48 PM open_in_new  EquityMaster

GUJARAT PIPAVAV PORT Share Price Up by 6%; BSE REALTY Index Up 2.3%


Posted by Equitymaster GUJARAT PIPAVAV PORT share price has zoomed 6% and is presently trading at Rs 106. Meanwhile, the BSE REALTY Index is at 2,058 (up 2.3%). Among the top Gainers in the BSE REALTY Index today are GUJARAT PIPAVAV PORT (up 5.7%) and SUNTECK REALTY (up 13.7%). OMAXE (down 0.4%) is among the top loser today. Over the last one year, GUJARAT PIPAVAV PORT has moved up from Rs 85 to Rs 106, registering a gain of Rs 21 (up 17.2%). On the other hand, the BSE REALTY has moved down from 2,100 to 2,058, loss of 42 points (down 2.6%) during the last 12 months. The top buzzing stocks among the BSE REALTY Index stocks during this same period were GODREJ PROPERTIES (up 30.6%). Latest: Chinese Aggression on the Border Triggers a Huge Opportunity What About the Benchmark Indices? The BSE Sensex is at 44,572 (up 1.0%). The top gainers among the BSE Sensex stocks today are M&M (up 4.4%), HDFC BANK (up 3.4%) and AXIS BANK (up 3.3%). Other gainers include MARUTI SUZUKI (up 2.7%) and ITC (up 2.2%). The most traded stocks in the BSE Sensex are SBI and ONGC. In the meantime, NSE Nifty is at 13,070 (up 1.0%). The top gainers in the NSE Nifty include ADANI PORTS & SEZ (up 4.8%), M&M (up 4.0%) and HINDALCO (up 3.9%). Other gainers include EICHER MOTOR (up 3.6%) and HDFC BANK (up 3.5%) are among the top gainers in NSE Nifty. Over the last 12 months, the BSE Sensex has moved up from 40,652 to 44,572, registering a gain of 3,920 points (up 9.54%). This article (GUJARAT PIPAVAV PORT Share Price Up by 6%; BSE REALTY Index Up 2.3%) is authored by Equitymaster. Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

update 24 Nov 02:39 PM open_in_new  MoneyControl

Mercedes Benz ties up with SBI for car finance


The collaboration will give Mercedes-Benz India access to the unparalleled market penetration of SBI''s HNI customer base, while the bank's customers will enjoy exclusive benefits on booking its luxury cars, the company said in a release.

update 24 Nov 02:38 PM open_in_new  EquityMaster

BEML. Share Price Up by 5%; BSE CAPITAL GOODS Index Up 0.8%


Posted by Equitymaster BEML. share price has zoomed 5% and is presently trading at Rs 711. Meanwhile, the BSE CAPITAL GOODS Index is at 17,240 (up 0.8%). Among the top Gainers in the BSE CAPITAL GOODS Index today is BEML. (up 5.4%). SADBHAV ENGINEERING (down 0.1%) and V GUARD INDUSTRIES (down 0.3%) are among the top losers today. Over the last one year, BEML. has moved down from Rs 998 to Rs 711, registering a loss of Rs 287 (down 29.1%). On the other hand, the BSE CAPITAL GOODS has moved down from 17,851 to 17,240, loss of 611 points (down 3.9%) during the last 12 months. The top buzzing stocks among the BSE CAPITAL GOODS Index stocks during this same period were LAKSHMI MACHINE (up 31.5%), HAVELLS IND (up 22.3%) and CARBORUNDUM UNIVERSAL (up 13.7%). Latest: Chinese Aggression on the Border Triggers a Huge Opportunity What About the Benchmark Indices? The BSE Sensex is at 44,547 (up 1.0%). The top gainers among the BSE Sensex stocks today are M&M (up 4.4%), HDFC BANK (up 3.4%) and AXIS BANK (up 3.3%). Other gainers include MARUTI SUZUKI (up 2.7%) and ITC (up 2.4%). The most traded stocks in the BSE Sensex are SBI and ONGC. In the meantime, NSE Nifty is at 13,064 (up 1.1%). The top gainers in the NSE Nifty include ADANI PORTS & SEZ (up 4.9%), M&M (up 4.4%) and HINDALCO (up 3.6%). Other gainers include HDFC BANK (up 3.5%) and EICHER MOTOR (up 3.5%) are among the top gainers in NSE Nifty. Over the last 12 months, the BSE Sensex has moved up from 40,652 to 44,547, registering a gain of 3,895 points (up 9.56%). BEML. Financial Update... BEML. net profit down at Rs 1 billion for the quarter ended June 2020, compared to a loss of Rs 48 million a year ago. Net Sales declined 43.6% to Rs 3.9 billion during the period as against Rs 6.9 billion in April-June 2019. For the year ended March 2018, BEML. reported 53.0% increase in net profit to Rs 1.3 billion compared to net profit of Rs 848.0 million during FY17. Revenue of the company grew 16.6% to Rs 33 billion during FY18. The current Price to earnings ratio of BEML., based on rolling 12 month earnings, stands at 90.6x. This article (BEML. Share Price Up by 5%; BSE CAPITAL GOODS Index Up 0.8%) is authored by Equitymaster. Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.