FINANCIAL HEALTH
Stocks in news: Bajaj Finance, Vedanta, L&T Finance, Hindustan Zinc, Star Health
Nifty surpasses 24,300 with bullish momentum. Key companies perform well: Bajaj Finance, Vedanta, L&T Finance. Hindustan Zinc focuses on silver production growth. Indiabulls Housing Finance rebrands to Sammaan Capital. Star Health targets doubling Gross Written Premium.
Who is Rishi Shah: The man who defrauded Goldman Sachs, Google of $1 billion
Rishi Shah, co-founder of Outcome Health, has been sentenced to seven and a half years in prison for orchestrating a $1 billion fraud scheme involving his healthcare advertising startup. The case has impacted major investors and drawn attention to corporate accountability.
How Indian-American businessman duped Goldman Sachs of Rs 8,300 crore
Rishi Shah, co-founder of Outcome Health, has been sentenced to seven and a half years in prison for his role in a $1 billion fraud scheme involving high-profile investors like Goldman Sachs and Google's parent company, Alphabet. The scheme, which included inflating advertising inventory and deceiving investors and clients, was uncovered in 2017. Shah's extravagant lifestyle, funded by fraudulent activities, included private jets and yachts. His sentencing marks the conclusion of one of the largest corporate fraud cases in recent history, highlighting the consequences of deceptive business practices.
FPIs invest Rs 26,565 crore in Indian equities in Jun
After two months of net outflow, foreign investors turned buyers in June, infusing Rs 26,565 crore in Indian equities, driven by political stability and a sharp rebound in markets.
Extent and frequency of tariff revisions crucial for financial health of telcos
Following the increase in tariffs, the stock of Reliance Industries rose by 2.3% on Friday to close at Rs 3,131.9. On the other hand, stocks of Bharti Airtel and VIL were under pressure, falling by 1.8% to Rs 1,445.4 and by 3.4% to Rs 17.9 in that order amid profit booking after a recent surge in their prices.
Indian financiers’ debt lures buyers on widest spread since 2020
Investors are wary of funding strains affecting the rapid economic growth in India, despite enticing opportunities in shadow lender bonds. The concern lies in the widening spreads and the potential hurdles that could impede the country's impressive growth trajectory.
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Bernstein India Strategy: Navigating the disconnect between earnings and stock price movements
Caution is advised for investors as earnings performance is crucial for market progress, highlighting the risk of overvaluation. Informed investment decisions are necessary, considering the disparities in sectors like Metals and Industrials and the modest gains in financials amidst overall stagnation.
Headwinds of high FPI exposure, but good for long term: 6 stocks the financial services sector with an upside potential of up to 25 %
One of the most intriguing aspects of presenting the return performance of stocks, or any asset class for that matter, is how a slight adjustment in the calculation date can dramatically alter the perception, making the glass appear either half full or half empty. This phenomenon is particularly evident in the case of financial service stocks. Recently, these stocks have often been portrayed as underperformers. However, this overlooks the fact that over the long term, they have provided substantial returns and generated significant wealth. The short-term underperformance of these stocks can be attributed to their heavy ownership by Foreign Portfolio Investors (FPI). As FPIs have been net sellers in Indian equities, financial service stocks have faced selling pressure. Nevertheless, the relative decline in stock prices is considerably less severe than in previous instances of similar selling activity. Given the robust fundamentals of these stocks compared to a few years ago, it is prudent to view them from a long-term investment perspective.
Focus on upcoming Budget: Policy in the works on finance, health support for elders
India is considering policy measures for senior care, including expanding healthcare access through Ayushman Bharat, revising pension under the Indira Gandhi scheme, and providing healthcare under NPHCE.
Go Digit stock likely to face pressure amid elevated combined ratio
After gaining over 24% within three weeks since listing on bourses on May 23, the stock of Go Digit General Insurance has remained range bound following weak performance in the March quarter, which was declared on June 11.
One in three elders report zero earnings in the past year, only 29% access pensions
The survey included 5,169 elderly people and 1,333 caregivers across 20 Tier I and Tier II cities in 10 states. The study captured the experiences of elderly people from cities such as Jaipur, Bikaner, Faridabad, Panipat, Kanpur, Bareilly, Indore, Ujjain, Kolkata, Siliguri, Bhubaneswar, Rourkela, Ahmedabad, Bhavnagar, Greater Mumbai, Solapur, Chennai, Salem, Bengaluru, and Hubli-Dharwad.
These largecaps have ‘strong buy’ & ‘buy’ recos and upside potential of over 20%
Just because the Nifty has been trading in a volatile mood for the last few trading sessions, the word correction might be heard on the street. The fact is that if one looks at the internal of the markets, there has been an ongoing correction which is taking place which has been largely guided by the numbers which companies have delivered for Q4. Also there is a kind of sectoral correction taking place. The good part is that such kind of sectoral corrections are indicative of underlying bullishness and these corrections are part of any bull run. The only thing any investor needs to make sure is that in any corrective phase, bias when making fresh investment should be toward large cap stocks as there is a possibility that they would see less damage in corrections which are stronger in nature due to global or macro developments. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
These largecaps have ‘strong buy’ & ‘buy’ recos and upside potential of over 20%
Just because the Nifty has been trading in a volatile mood for the last few trading sessions, the word correction might be heard on the street. The fact is that if one looks at the internal of the markets, there has been an ongoing correction which is taking place which has been largely guided by the numbers which companies have delivered for Q4. Also there is a kind of sectoral correction taking place. The good part is that such kind of sectoral corrections are indicative of underlying bullishness and these corrections are part of any bull run. The only thing any investor needs to make sure is that in any corrective phase, bias when making fresh investment should be toward large cap stocks as there is a possibility that they would see less damage in corrections which are stronger in nature due to global or macro developments. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
Financial health of cement sector to be strong despite market challenges: Ravleen Sethi
Now, cement prices, yes, they have been under pressure and largely the price elusiveness what we believe is here to stay also in medium term.
Big tech is driving the S&P rally. The rest have to step up soon
Tech stocks face diverging performances as Nvidia leads the pack, while Apple struggles, causing a profit cool down and an emerging asymmetry among Big Tech stocks, affecting the overall earnings potential in 2024.
CIBIL or credit score drop can cost you Rs 19 lakh more on a Rs 50 lakh home loan; 4 ways to avoid it
Many social media users are reporting sudden credit score dips. Erroneous transactions, lender misreporting, and late credit card or BNPL payments, over-utilisation of credit limits are some culprits. If you have a poor credit score or CIBIL score, you'll have pay to a few lakhs extra for any big-ticket loan such as a home loan. It pays to be aware of why credit scores drop suddenly and how it can impact your life. ET Wealth Online speaks to various experts to decode how to maintain a healthy credit score or CIBIL score.
RBI says India's banking sector is sound and resilient, Gross NPA is below 3%
During the Monetary Policy announcement, RBI Governor Shaktikanta Das emphasized India's robust banking system, with gross NPA levels below 3% for scheduled commercial banks and NBFCs as of March 2024. He highlighted factors like improved provisioning, capital adequacy, and profitability, stressing the importance of governance, risk management, and compliance enhancements.
Japan’s shocking population decline calls for urgent action, govt to take these actions, offer financial help
Birth rate and number of marriages have once again again Japan. This has prompted an urgent budgetary intervention by the government.
NCLT rejects JAL's claim of liquidity crunch due to delay in govt approvals, litigations
JAL has submitted that it is an "asset rich company", even after sale of cement plants to resolve the loans under Bucket 1 and Bucket 2A, assets like Real Estate Business - Noida and Greater Noida (about 11,000 flats) will remain with the company. Besides, it had other assets such as two 5 Five Star Hotels/Resort in Delhi, and one in Agra, two Golf Courses in Noida and Greater Noida, a Formula One Sports Complex and Cricket Stadium with Real Estate.
Top stocks to buy: Bet on companies with healthy net profit margins to remain versatile during uncertain market conditions
The markets are expected to rally if the election results align with expectations. Nonetheless, persistent macro issues and valuation concerns may constrain the upside potential. Analysts suggest that investors capitalise on the current volatility by accumulating quality stocks.
Mind Over Money: Rock 'n' Roll to FinEdge – How Mayank Bhatnagar keeps himself mentally fit
Mayank Bhatnagar, Co-founder of FinEdge, exemplifies balance by merging finance with rock 'n' roll. He prioritizes mental and physical fitness and integrates music and travel into his life. With the band 'Frontrow Bandits,' he revives rock 'n' roll, showcasing the power of dedication and teamwork.
Nothing personal against Burmans; working in best interest of Religare: REL Chairperson Rashmi Saluja
Religare Enterprises Ltd (REL) Chairperson Rashmi Saluja has denied any personal resentment towards Burmans, who are in a dispute with management over control of the financial services firm. Burmans, who own around 25% of REL through four entities, announced an open offer to acquire a 26% stake from public shareholders. Saluja defended the relationship with all shareholders, including Burmans, for the last six years and stated that the board's concerns should be put to the rest.
Recordent announces 100+ meets connecting 10,000 Indian SMEs across India
These events aim to serve as valuable networking platforms, enabling participants to gain insights and build connections within the industry.
Mygate enters insurance distribution business, partners with Acko
Mygate app, in partnership with Acko General Insurance, received an aggregator licence from IRDAI to distribute insurance policies, offering exclusive pricing and expanding product range.
Companies look to rework benefits for multi-generational workforce: Survey
A survey by Marsh India Insurance Brokers revealed 70% of companies seek new-age benefits and 50% aim to cater to the multi-generational workforce, focusing on Generation Z. Employers are designing comprehensive benefits tailored to diverse needs, including mental health support and flexible solutions.
Stocks with tailwinds called advantage India: 5 largecap stocks from 3 different sectors with an upside potential of upto 36 %
In terms of valuations and sentiment we are not far from the place where we were in the last quarter of 2023 or early part of this year. When it was not possible to find stocks which can be called as “fairly valued” forget “undervalued”, and the sentiment was very bullish. The only difference between then and now is that we have election results which are coming up. Surely a confirmation on 4th June that continuity in the policy making is a big factor. But there is another thing which long term investors need to look at before investing. Whether the company or the sector has an advantage due to India as a country. A well known example, which has been present for decades is that of the IT industry. India as a country is a factory of software engineers, and that is our strength. So when investing for the long term, look at sectors where we have some strong tailwinds due to our human capital.
Inspiring! This IIT Kanpur graduate left a high-paying job to become a fitness trainer
Gupta, a graduate of the esteemed Indian Institute Of Technology Kanpur, surprised the world with a daring career transition—she departed from her position at a major multinational corporation to pursue her passion for becoming a fitness coach. Her LinkedIn post garnered widespread attention as she discussed the challenging decision she made and her determination to persevere, even after facing setbacks with her initial startup venture.
N Vaghul, ex-ICICI Bank Chairman, on ventilator
Narayanan Vaghul, the Indian banker credited with building ICICI Bank, is in critical condition. He was the youngest chairman of Bank of India at 44 and was responsible for the return of KV Kamath to India from the Asian Development Bank in the mid-1990s. Vaghul is a recipient of Padma Bhushan in 2010 and has served as a director in several Indian conglomerates.
Vedanta, IndusInd Bank among 10 companies with highest promoters' holding pledge
Pledging shares is a common practice among promoters to secure loans for various purposes such as working capital, personal needs, or other ventures. Here's a list of 10 companies from the Nifty500 index where promoters' holding pledge was the highest as of Q4 FY24, according to StockEdge data:
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