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• Super Fund Manager 2024: This fund manager explains how tactical sector allocations led to strong large-cap performanceWe were cautious about the pace of rate cuts. We did not buy into the theory that rate hikes would quickly reverse into rapid rate cuts. As a result, we were more underweight on financials compared to others, which worked in our favour, says Sriram.
• Intellect Design shares up 10% on strong volumes after launching 'Purple Fabric' AI systemLast week, the company shared a presentation with analysts and institutional investors on its new Enterprise AI platform called Purple Fabric, which is tailored for the financial and insurance sectors.
• Divis Lab: GLP-1 opportunity to unfold in the medium termGlobal sales from these drugs in Q3 CY2024 were a staggering $11.2 bil-lion. Street estimates for GLP 1 drugs sales for anti-diabetic and/or obesity con-trol are upwards of $150 billion in 2030.
• Bond yield opens marginally up, rupee remains stable at 85 a dollarLooking ahead, this week is expected to be relatively subdued due to the holiday season in key markets like the U.S. and Europe, leading to thin trading volumes and reduced market volatility, said Amit Pabari, managing director at CR Forrx Advisors.
• E-scooters to account for 20% of India's market by FY26: ReportBy the end of FY25, e-scooter penetration is expected to reach 13-15 percent, with VAHAN data showing that 0.79 million electric two-wheelers have already been registered in FY25, as per the report.
• Great product, quick to innovate: Snowflake CEO Sridhar Ramaswamy praises Aravind Srinivas for Perplexity's successWhile both Perplexity and Neeva used AI to build advanced ad-free search engines, which was later acquired by Snowflake in 2023.
• GIC Re, NIACL, Star Health stocks fall over 6% as Council defers decision on GST relief for life, health insurance premiumsThe GoM on health insurance-related GST work requires more time as IRDAI's inputs are awaited, said FM Sitharaman on December 21
• Gold prices edge higher on short coveringThe Fed’s 25-basis-point reduction on December 18 and the cautious note struck by its economic projections and expectations of fewer cuts in 2025 pushed gold to its lowest since November 18 last week.
• International Gemmological Institute shares extend gain on Day 2 of listing, rise over 8%International Gemmological Institute's market valuation stood at Rs 21,229.85 crore on the BSE.
• JBM Auto shares rally 5% as subsidiary bags Rs 1,800-crore order from AhmedabadIn October, the board of JBM Auto Ltd. approved splitting one of its shares with a face value of Rs 2 into two shares with a face value of Rs 1 each.
• Sterling and Wilson share soars 7% after Rs 1,200 crore order winThese order wins will support Sterling and Wilson Renewable's goal of achieving its annual revenue target of Rs 8,000 crore for FY25.
• Brokerages slash target price on Siemens India amid muted growth outlook, shares extend lossesIn the previous session, Siemens India crashed 10 percent after analysts were disappointed by the management commentary.
• India Cements shares surge 11% on CCI nod for UltraTech's Rs 7,000-crore dealThe CCI cleared the deal on December 20, wherein billionaire Kumar Mangalam Birla-promoted UltraTech Cement will acquire a majority stake in India Cements Ltd.
• Bulls fight back! Sensex surges 800 pts, Nifty above 23,850 amid global cues; banks, metals rallyAll sectors traded in the green, with notable gains in Nifty Bank, Metal, and Realty, rising 1.2 percent, 1.5 percent, and 2 percent, respectively.
• Metal stocks climb on hopes of safeguard duty on steel imports; Hindalco, JSW Steel, Tata Steel gain 2-3.5%The Directorate General of Trade and Remedies (DGTR) took note of the steel industry's request for a 25 percent safeguard duty on imports and initiated an investigation into the matter.
• Unimech Aerospace and Manufacturing IPO: A niche engineering player with intriguing valuationLimited near-term growth catalysts, barring any M&A activity; suitable for long-term investors
• SEBI suspends trading in Bharat Global Developers over financial misrepresentationSEBI has also barred Bharat Global Developers’ promoters from accessing capital markets indefinitely.
• Lookback @ 2024: Thematic and multi-cap strategies of PMSes top the returns chartInvestments into PMS funds have grown steadily over the past one year and assets of the industry has grown 20 per cent year-on-year to Rs 36 lakh crore as of October 31, 2024, data shows.
• MPC minutes point to pro-growth lobby gaining groundThe arguments by MPC member Nagesh Kumar in favour of a rate cut were based on a pressing need to support the slowing economy with a cut in interest rates. Ram Singh too supported this view.
• Agri Picks Report December 23, 2024: Geojit Financial ServicesAccording to Geojit Financial Services, The National Commodity and Derivatives Exchange Ltd. will launch options contracts on turmeric, coriander, and jeera futures, according to a circular issued by the exchange Thursday.
• Live: How will markets move this week? | Zomato, Ultratech in focus | Opening BellIndian benchmark indices Sensex and Nifty saw the worst weekly selloff in nearly 2.5 years. Barring pharma, all sectors ended in the negative territory last week. This week, experts expect volatility to remain high due to December derivatives contracts expiry. Experts eye Nifty to find a support around 23,300 and resistance placed around 23,900. This morning, global cues were strong. US markets ended higher on Friday amid softer than expected PCE inflation data. Asia-Pacific markets also started this Christmas week on a positive note. Among stocks in focus, watch out for Zomato, Ultratech Cement, and Vedanta. Catch Lovisha Darad in conversation with Milan Vaishnav, Founder and Technical Analyst, ChartWizard FZE and Anand K Rathi, Co-Founder, MIRA Money.
• Can India’s external sector keep calm for the rest of FY25?Despite pressure on the trade gap, balance of payments seems to be on track for a small deficit in FY25
• Niva Bupa stock rises 2% after Morgan Stanley initiates 'equal-weight' call; sees 15% upsideMorgan Stanley touted Niva Bupa as a "strong franchise with a secular growth opportunity." The brokerage views the health insurer as well positioned to take advantage of the growth in India's health insurance sector.
• GST Meeting: What's the cost of delayed decision-making?The wait continues for decisions on crucial matters such as rate rationalisation and lowering of premium on insurance due to a lack of consensus among various stakeholders
• Super Fund Manager 2024: How this fund manager outperformed the benchmark with “smart sectoral” movesSmall caps have been the standout this year. In the second quarter, they saw the highest earnings upgrades, outpacing mid and large caps. Many doubted their potential, but higher earnings growth drove their success, and we expect this trend to continue, Shah says.