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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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Bloomberg Quint
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Mutual Funds' Cash Pile Snaps Growth Streak On Record Investments In October
- Cash held by actively managed mutual fund schemes fell in October for the first time in the fiscal, even as allocation towards cash continued to rise as a result of the decline in equity markets.
- At the end of October, cash held by various MF schemes was at Rs 1,49,227 crore, marginally below the previous month's figure.
- The allocation of cash holdings as a share of total assets' value grew to its highest so far this year, at just shy of 5%, after falling in September for the first time since April.
- While foreign investors made record outflows during the month, domestic institutions, primarily led by mutual funds, made record inflows into equities.
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Bloomberg Quint
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Nalco Q2 Results Review - Broad-Based Beat Fueled By Favorable Pricing: Motilal Oswal
- Motilal Oswal reiterates its Neutral rating on Nalco stock with a revised target price of Rs 240.
- The stock's broad-based beat in Q2 results is fueled by favorable pricing.
- Nalco is valued at 7.5x Sep'26 EV/Ebitda.
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Bloomberg Quint
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Why New Fund Offers In Mutual Funds Have No Cost Advantage And May Be Risky
- New Fund Offerings (NFOs) may not be suitable for all investor portfolios despite the strong traction it has among investors.
- Investors have poured their money into NFOs in hopes of a cost advantage and more, despite it not being an advantageous option.
- Fund houses have multiple channels, marketing strategies and buzz during launches to gain visibility and lure new investors.
- Fresh capital coming can also be a reason for inflow into NFOs compared to existing schemes.
- The expense ratio of NFOs may be similar to existing schemes, and there is no cost advantage to these schemes, as this depends on the issue size.
- The advertised cost advantage of NFOs may not exist due to lower NAV despite the investor getting allocated double the number of units due to lower NAV.
- New Fund Offerings do not come with data on performance and consistency and could be a new strategy or from the same asset class as the investor's current mutual fund investments.
- The notion that NFOs and IPOs are similar is false, as an initial public offering raises money for its use and an NFO raises money to run a mutual fund scheme.
- Buying NFOs may not be ideal but NFOs are not altogether bad nor good and buying NFO requires proper consideration of its advantages and risks.
- Investors should evaluate NFOs go beyond the buzz and marketing to determine whether it fits their financial goals and portfolio.
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Bloomberg Quint
1h
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Ashoka Buildcon Q2 Results Review - Traction In H2: IDBI Capital
- IDBI Capital downgrades Ashoka Buildcon stock to Hold with target price of Rs 264.
- Traction expected in H2 for Ashoka Buildcon.
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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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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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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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Bloomberg Quint
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Eicher Motors' Q2 Review: High Marketing Spends Draw Mixed Analyst Reactions
- Eicher Motors reported a record revenue in its September quarter results.
- Increased marketing spend draws mixed analyst reactions.
- Analysts believe higher marketing investments are a strategy to drive volume growth.
- Management's focus on profit growth may limit margin expansion in the near term.
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