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Bloomberg Quint
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Guru Nanak Jayanti Bank Holiday 2024: Banks To Remain Closed On Nov. 15; Check State Wise List
- Banks in many parts of India will remain closed on Nov. 15 in observance of Guru Nanak Jayanti or Gurpurab.
- In-person banking services will be unavailable on this day, but other services such as net banking, UPI, and ATM transactions will continue as usual.
- The bank holiday is set by the Reserve Bank of India, and here is a list of states where banks will remain closed on Nov. 15: Maharashtra, Madhya Pradesh, Punjab, Haryana, Mizoram, Odisha, Andhra Pradesh, Telangana, Arunachal Pradesh, Rajasthan, Jammu, Uttar Pradesh, Nagaland, West Bengal, Delhi, Chhattisgarh, Jharkhand, Himachal Pradesh.
- Nov. 16 is not a bank holiday and banks will remain open, while Nov. 17 is a bank holiday due to Sunday.
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Bloomberg Quint
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Baby Steps To Big Leaps: How You Can Finance Your Child's Dreams
- Many parents face a mismatch between their children's big goals and their savings due to income, cost of living, and inflation.
- Start planning for your child's big expenses at least a year ahead and consider factors like schooling costs.
- Parents should focus on planning for bigger spends and be mindful of smaller expenses.
- For financing education, consider estimating college costs and explore options like education loans and SIPs under the child's name.
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Bloomberg Quint
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India MF Tracker - Net Equity Inflows Surge To All-Time High, Underpinned By Lower Redemptions: Motilal Oswal
- Investors continued to park their money in mutual funds, with inflows into systematic investment plans reaching a new peak of Rs 253.2 billion in Oct-24, says the brokerage.
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HinduBusinessLine
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Summer placements begin at IIMA; Accenture & BCG among top recruiters
- The summer placements have begun at the Indian Institute of Management Ahmedabad (IIMA), with Accenture and BCG among the top recruiters.
- A total of 73 roles were offered by a large pool of recruiters in the first cluster of placements.
- Goldman Sachs emerged as the largest recruiter in the Investment Banking and Markets cohort with 11 offers.
- Cluster 1 also witnessed increased participation from international firms based in Hong Kong, Germany, the USA, Singapore, and the Middle East.
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HinduBusinessLine
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Quick Commerce captures nearly half of Kirana sales; market projected to hit $40 billion by 2030
- The quick commerce market size is expected to reach $40 billion by 2030, with a jump from $6.1 billion in 2024.
- Nearly half (46%) of respondents report reduced spending at Kirana shops, indicating a shift towards quick commerce platforms.
- Quick commerce platforms like Blinkit, Zepto, Swiggy Instamart, and Flipkart Minutes are prominent in India.
- Quick commerce is projected to capture approximately $1.28 billion of Kirana sales by 2024, accounting for 21% of total sales on these platforms.
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Bloomberg Quint
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Cera Q2 Review - Project Biz Shows Early Signs Of Recovery, Retail To Pick-Up; Upgrade To Buy: Yes Securities
- Yes Securities has upgraded Cera to Buy based on the early signs of recovery in its project business and expected pick-up in retail.
- The brokerage has re-valued the company at a P/E of 35x on FY27E EPS, resulting in a target price of Rs 8,224.
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HinduBusinessLine
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RBI grants banks, ATM operators more time for cassette swap mechanism
- The RBI has granted banks and ATM operators more time to implement the cassette swap mechanism for cash replenishment.
- Cash recycler machines (CRMs) have been exempted from the cassette swap requirement.
- The RBI has extended the deadline for implementing the cassette swap mechanism after multiple delays.
- Banks have cited various constraints for the slow progress in implementing the cassette swap mechanism in ATMs.
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Bloomberg Quint
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Nalco Share Price Gains As Q2 Profit Grows Over Five Times
- National Aluminium Co.'s share price climbed 5% on Thursday following strong Q2 earnings.
- The company reported a 31.4% increase in revenue, with EBITDA margin at 38.7%.
- Net profit grew from Rs 187 crore to Rs 1,046 crore.
- The board approved an interim dividend of Rs 4 per share.
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Bloomberg Quint
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Natco Pharma Q2 Results Review - Strong Quarter, Pipeline Build-Up Underway: ICICI Securities
- ICICI Securities has reviewed Natco Pharma's Q2 results.
- They maintain a Hold rating on the stock with a target price of Rs 1,430.
- The brokerage highlights the strong quarter and pipeline build-up underway.
- They also mention limited competition opportunities in the U.S. market.
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HinduBusinessLine
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Chubu Electric signs pact to increase investment in OMC Power
- Japan-based Chubu Electric has signed an agreement with OMC Power to increase investment in the company.
- The investment will help OMC Power commission 100 MW of energy transition projects and expand presence in India and South Africa.
- OMC Power provides green energy solutions, including solar-powered renewable energy and smart grids, in various sectors.
- Chubu Electric's increased investment will aid OMC Power's capacity expansion and contribute to achieving sustainability goals.
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Bloomberg Quint
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Health Insurer Niva Bupa's Shares Debut At 6% Premium Over IPO Price
- Shares of Niva Bupa Health Insurance Co. listed at Rs 78.50 apiece, a premium of 6.08% over the issue price of Rs 74 apiece.
- The health insurer raised up to Rs 2,200 crore in its maiden issue which was subscribed 1.8 times on the third day of bidding, led by demand from retail investors.
- The IPO was a fresh issue of shares worth Rs 800 crore, and an offer-for-sale of up to Rs 1,400 crore.
- Promoter Bupa Singapore Holdings Pte. offloaded shares worth Rs 350 crore, while Fettle Tone LLP will sell stake to the tune of Rs 1,050 crore.
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Bloomberg Quint
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US Accuses China Of Vast Cyber-Espionage Targetting Trump, Vance, Harris
- Chinese state-sponsored hackers conducted a broad and significant cyber-espionage campaign targeting multiple telecommunications companies.
- The hackers stole customer call records and compromised communications of government officials and politicians.
- AT&T and Verizon are among the breached companies, and the hackers potentially accessed systems used for wiretapping requests.
- The hackers targeted former President Donald Trump, JD Vance, Kamala Harris' campaign staff, and others.
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Bloomberg Quint
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Rupee Opens At Record Low Against US Dollar
- The Indian rupee fell by 3 paise to open at a new low of 84.41 against the US dollar.
- The opening marks rupee’s weakest level amid continued dollar strength and high yields.
- Anil Kumar Bhansali, Head of Treasury and Executive Director of Finrex Treasury Advisors LLP, noted that the rupee is expected to remain under pressure.
- Exporters are advised to wait, with a stop loss at 84.25.
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Bloomberg Quint
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Trump Wins Republican Trifecta As GOP Retains House Majority
- Republicans retain majority in the US House, giving Donald Trump and his party unified control of the elected branches of government.
- The Republican sweep limits potential curbs on Trump's power and strengthens their hand to enact immigration controls and reduce regulations.
- The GOP will hold at least 218 seats in the 435-member chamber starting January, removing the threat of congressional investigation of Trump's actions by Democrats.
- The House Republican majority will be razor-thin and intra-party divisions threaten unified actions, but Trump may have more leverage with conservative hardliners.
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HinduBusinessLine
1h
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Adani Group to invest $10 billion in US energy and infrastructure projects
- Adani Group Chairman Gautam Adani announced on social media platform X that the group will invest $10 billion in US energy and infrastructure projects.
- The investment is expected to create up to 15,000 jobs.
- Gautam Adani congratulated US President-elect Donald Trump on his win in the recent presidential race and praised his tenacity, grit, determination, and courage.
- This is the second instance, and the first in over 100 years, of a leader winning the presidency after losing once.
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