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Kotak Mahindra Bank appoints KVS Manian as Jt MD

February 19, 2024 - 5:36pm
Categories: Business News

Technical Breakout Stocks: How to trade Quess Corp, CRISIL and MRPL on Tuesday

February 19, 2024 - 5:36pm
Indian market closed in the green for the fifth consecutive day on Monday, tracking positive global cues. The S&P BSE Sensex rose nearly 300 points while the Nifty50 closed above 22,100 levels.Sectorally, buying was seen in consumer durables, telecom, power, and FMCG stocks while metal, capital goods, and realty stocks saw some selling pressure.Stocks that were in focus on Monday include names like Quess Corp which was up nearly 8% to hit a fresh record high, CRISIL which closed with gains of over 9% and Mangalore Refinery & Petrochemicals Ltd which rallied over 19% on Monday.We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout.We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view:Here’s what analyst Ankit Choudhary Co-Founder, Financial Independence Services, (SEBI Registered Investment Advisors, Registration Number - INA100008939), had to say:Quess CorpThe stock has given a good breakout on the monthly charts and can be bought at current levels for a target of Rs 700 and long-term targets of Rs 900 with a stop loss of 439 on a closing basis.107825392CRISILWe would suggest a ‘buy on dips’ strategy for CRISIL as the stock could again retest its breakout levels of 4,650 -4,700.At the current levels, the risk-to-reward ratio is unfavourable for fresh positions but existing investors can stay invested for a target of Rs 5,500.107825367MRPLMRPL was up by 20% on the back of great quarterly results. The stock could see a gap-up opening on Tuesday morning, but at these levels the risk-to-reward ratio is unfavourable.We would apply a buy-on-dip strategy and suggest traders enter this stock around 200-210 levels with a stop loss placed around the swing low of 174.The near-term targets are placed at 300 and 349. The Relative Strength Index (RSI) of the stock is also above 80, which is an overbought zone.107825348(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Categories: Business News

HDFC, ICICI Bank screaming buys now: Maheshwari

February 19, 2024 - 5:10pm
Categories: Business News

Gurugram: You may get a Rs 10k challan for this

February 19, 2024 - 5:05pm
Categories: Business News

Sony Pictures launches OTT service on Prime Video

February 19, 2024 - 3:55pm
Categories: Business News

Tracking 3 sectors, adding to portfolio: Chadha

February 19, 2024 - 3:52pm
Categories: Business News

With 92 IPOs in Q4CY2023, Indian stock exchanges trump global markets in 2023

February 19, 2024 - 3:45pm
Indian stock exchanges BSE and NSE recorded the launch of as many as 92 initial public offerings (IPOs) in the quarter endedDecember, which catapulted them as global leaders in the primary market category in 2023.Of the 92 IPOs, 31 were main-board while the remaining 61 were from the small and medium enterprises (SMEs), according to a report published by EY India on Q4CY23’s top IPO trends.“India's stock exchanges have secured the top position worldwide in terms of the number of IPOs, with no cross-border deals reported,” the report said, calling the performance of India’s IPO market as “outstanding”.Of the 31 IPOs, one was an InvIT (Infrastructure Investment Trust). This count is a 72% jump over the same period in 2022 and 41% over the July-September quarter, the report said.The report, which was published as ‘Q4 IPO Trends’, stated that the SME markets also showcased remarkable growth in the October-December quarter with 61 public issues versus 34 in Q4CY2022 and 47in Q3CY2023. This demonstrates a robust 79% and 30% increase, respectively, over the above time frames, the report said.“Looking ahead to Q4FY24, the Indian IPO market is anticipated to continue its upward trajectory, buoyed by optimistic investor sentiment, a robust economy, and expectations of lower inflation and rate cuts in 2024. This positive environment is expected to fuel further growth in both the number and average size of mainboard and SME IPOs,” an EY release said, quoting Adarsh Ranka, Partner and Financial Accounting Advisory Services Leader, member firm of EY Global.The fourth quarter of 2023 emerged as the standout period of the year, accounting for nearly 40% of the total listings in 2023. Following a slow start in the first half of the year, there was a significant surge in IPO activity during the second half, with over 18 companies filing their draft red herring prospectus (DRHPs) in Q4 2023, the report said.From a sectoral perspective, based on recent DRHP filings, the power & utilities, health, automotive & transportation, and banking & capital markets sectors emerged as the most active.The recent amendment by Sebi to the Real Estate Investment Trusts Regulations, 2014, facilitating the creation of Small & Medium Real Estate Investment Trusts (SM REITs) is expected to spur further growth and innovation in the market, the report highlighted.In Q4 2023, consumer products & retail, diversified industrial products, automotive & transportation accounted for 21, 14, 9, and 9 IPOs, respectively, across main and SME markets.In terms of size, Tata Technologies Limited was the largest IPO (US$ 0.37 billion) in Q4 2023.Also Read: WTI Cabs list at 32% premium at Rs 195 on NSE SME(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Categories: Business News

Xiaomi taps into Indians' thirst for 'premium'

February 19, 2024 - 3:29pm
Xiaomi plans to target India’s burgeoning premium segment to fuel its next phase of growth in the country, with an increased focus on launching experiential flagship handsets, with enhanced marketing and wider distribution tapping into more retail stores, a top company executive said.The Chinese handset brand, which is set to complete 10 years in India, will be pivoting towards becoming a premium brand after a focus on democratising 4G technology through budget handsets made it India’s top handset brand till recently in 2022 when Samsung overtook.“10 years of democratising technology has got us a long way. How do we craft the route forward? We said perhaps what got us here is not going to get us there,” Xiaomi India president Muralikrishnan B told ET.He said the company has crafted a strategy to cater towards the growing aspiration of the nation, in a bid to be the “preferred and pioneering choice for the aspirational Indian,” the executive said, adding that the company will be following a three-pillar premiumisation strategy over the next three years.The strategy includes delivering cutting edge technology, developing a connected ecosystem, and delivering what the executive called “total experience” to the customer.The recalibration in the company’s India strategy stems from the fast-paced growth of premium smartphones driven by bank financing and a maturing user base. According to IDC India, the share of shipments in the premium segment (above $600) increased from 6% in 2022 to 10% 2023, leading to a 14% on-year jump in average selling prices to a record $255.The company was earlier caught off-guard with the change in market dynamics in 2022 when it lost the crown of being the top smartphone brand to Samsung, which Muralikrishnan earlier admitted was due to a bloated portfolio of devices that left customers confused, leading to an inventory pile-up.Analysts had warned that the company’s business model centering around razor-thin margins and leveraging volumes in sales by positioning itself as an affordable brand will put further pressure on its margins.“We have been profitable pretty much for all years of our operations in India. More than profitability, I think it’s important to address the opportunity that aspirational India provides,” Muralikrishnan said, adding that the move is more strategic to make a meaningful presence in this segment.“I’m not expecting all of a sudden double digit share in this, but over a period of time, I’m sure we will get to that specific stage in this country,” he added.The executive said that while the company did not face a challenge of liquidating its planned volumes in the premium segment so far, it should have focused on the segment in a more concerted manner a few years earlier.“Now that we are at the cusp of our 10th anniversary in India, this actually presents a great opportunity for us to chart out the roadmap that we need to take for the next few years. And we marry that with what’s happening to the economy, the consumer and the competition. Hence, we have taken up our premiumisation journey as the single biggest priority for us to foster for the next few years,” Muralikrishnan said.Market trackers have also flagged the company’s dependence on online channels as a reason for losing market share. Shipments to online channels dropped by 6% in 2023, while its share of shipments dropped to 49% in 2023, ceding dominance to brick and mortar offline stores, as per IDC.The executive said the company will continue to invest in enhancing its marketing presence. Large outdoor hoardings of the company’s most recent flagship handset, made in partnership with German camera brand Leica, as an example of that.“There will be investments required in marketing. We will continue doing that. We will continue investing in terms of enhancing our width of distribution and offline retail, enhancing our quality of experience by investing in in-shop and other visual merchandise, and increasing our manned outlets,” he said.That said, the company is not looking to increase its headcount. ET reported in June 2023 that the company is slashing its headcount to less than 1,000 amid an organisation rejig and intense scrutiny by government agencies.“I think we are very optimally structured to take care of all these plans and goals,” the executive said.
Categories: Business News

What are India's key asks at WTO ministerial

February 19, 2024 - 3:23pm
Categories: Business News

CVC selling Healthcare Global stake & more

February 19, 2024 - 2:34pm
Categories: Business News

Shivaji: The mighty ruler also founded Indian Navy

February 19, 2024 - 2:32pm
Categories: Business News

Why rupee was most stable emerging market currency

February 19, 2024 - 2:00pm
Categories: Business News

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