UTILIZATION
India asks utilities to order $33 billion in equipment this year to boost coal power output
India's government plans a $33 billion equipment order to accelerate coal-fired power capacity additions amid soaring electricity demand. Major firms like NTPC and Adani Power are expected to lead tendering, aiming to add 31 GW in 5-6 years. The move follows record-high power demand and recent supply challenges, prompting urgent action to bolster infrastructure.
Financials & utilities are the cheapest sectors; IT overpriced: Neelkanth Mishra
Neelkanth Mishra highlights undervalued financial and utility sectors compared to the overpriced IT sector. The Budget is expected to focus on rural support and fiscal prudence, with emphasis on Viksit Bharat 2047 initiatives. However, GDP growth may slow down, impacting FMCG sector earnings. Mishra expects consumption by the lower income households will grow slower than the GDP on average,
Maruti Suzuki sales rise 12 pc to 1,79,228 units in June
Maruti Suzuki India reported a 12% increase in total wholesales for June, reaching 1,79,228 units compared to 1,59,418 units last year. Domestic passenger vehicle sales rose by 3% to 1,37,160 units. Export sales surged to 31,033 units from 19,770 units, while mini-segment car sales declined.
HDFC Bank credit card charges, term: 9 major changes you should know about
HDFC Bank has made major revisions to its credit card terms and charges. According to the bank's official website, these modifications take effect on August 1, 2024.
HDFC Bank credit card charges, rules to change from August 1, 2024: Know about new late payment fee, bill payment rules
HDFC Bank announced major revisions to its credit cardholders about terms and charges. The following changes to your HDFC Bank credit card charges will come into effect on August 1, 2024.
Nervous investors tear up ESG playbooks in election supercycle
In 2024, global elections spark an anti-green trend affecting ESG investments. Marine Le Pen and Trump's influence reshape the environmental landscape. Utility stocks gain prominence amidst shifting policies and investor sentiments.
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Holding company stocks rally up to 20%. Here’s why
Shares of holding companies like Bombay Burmah, Tata Investments, JSW Holdings and TVS Holdings rallied up to 20% on BSE on Monday as the Securities and Exchange Board of India (Sebi) introduced special call auctions with no price bands for price discovery of investment holding companies.
Passenger vehicle sales to see 3-5 pc growth this fiscal: Report
Passenger vehicle sales are expected to grow moderately at 3-5% in the current financial year due to a high-base effect of FY24, shrinking order book, and subdued demand for entry-level variants. Electric car sales in the PV segment may reach 1.30-1.50 lakh units in FY25, driven by improving penetration rates. Utility vehicles have seen significant growth, benefiting from lower interest rates and increased demand for personal mobility post-pandemic.
Special call auctions to aid holding companies price discovery, narrow discounts
Sebi introduces special call auctions for price discovery of holding companies, narrowing the market-book value gap. Stocks like Kalyani Investment trade at 60-85% discount to book value.
As unrelenting heat wave makes power demand spike, utilities told to be on high alert
The ministry's statement highlighted that the northern region has faced high electricity demand since May 17, 2024, due to the heatwave. Despite these tough conditions, the highest-ever peak demand of 89 GW in the northern region was successfully met on June 17, 2024.
S&P 500, Nasdaq close slightly down ahead of US payrolls data
The S&P 500 and Nasdaq composite dipped from record highs ahead of key labor market data. Nvidia fell, while utilities and industrials dragged the S&P 500 lower. Investors await the U.S. nonfarm payrolls report, which may influence Federal Reserve decisions.
The unexpected boon for the otherwise boring industrial products from AI boom
Stocks in the utility space are no longer the sedate ones that are reserved for defensive investors seeking steady returns. They have now caught the fancy of momentum investors and traders. With the successful spinning of the AI story to the power and industrial stocks, they have become the most trending ones that are vying for the top spot, albeit behind tech stocks.
Passenger vehicle wholesales in slow lane in May due to high base effect, elections
Passenger vehicle wholesales in India grew marginally in May due to the high base effect and muted demand during the general elections. Maruti Suzuki, Hyundai, Tata Motors, Mahindra & Mahindra, Toyota Kirloskar Motor, Kia India, and MG Motor India all reported varying levels of growth.
This meme coin is aiming for the moon – Dogeverse presale ends in three Days amid 100x price predictions
Dogeverse is gearing up for its highly anticipated launch, with analysts predicting a 100x or more increase in value. Investors have a limited time to participate in the presale, offering $DOGEVERSE tokens at a discounted price.
Is this the next big meme coin? P2E token PlayDoge launches presale & raises $250K
PlayDoge ($PLAY) presale raises over $250K, combining P2E and meme coins with a Tamagotchi game reboot.
Overheating electricity: How India can address supply shortages and renewable energy challenges
With temperatures soaring to record levels across India, the Government of India has taken steps to address the impending surge in electricity demand by instructing idling power plants to increase operations. This move comes as a response to the high demand for electricity not translating into adequate purchases by utilities, leading to shortages in power supply.
Dogeverse price prediction: Could this meme coin explode?
Dogeverse is wrapping up a hot presale, raising over $15 million. Investors have a final chance to buy $DOGEVERSE, a new meme coin with price predictions for 2024-2030.
IT’s bench strength halves as slump-hit companies eye efficiencies
The bench strength at top Indian outsourcers has nearly halved of late, with higher utilisation and generative artificial intelligence (GenAI) driving efficiency in the $254-billion IT industry. Bench strength in the IT industry means full-time employees who are not assigned any active project.
Technical Breakout Stocks: How to trade JSW Infrastructure, Coromandel International & Power Finance Corporation on Thursday
The S&P BSE Sensex fell over 600 points while the Nifty50 closed at 22,704. Buying was seen in utilities, power, healthcare, and telecom stocks while IT, oil & gas and banks saw some selling. JSW Infrastructure rose over 2%
Technical Breakout Stocks: How to trade DOMS Industries, Exide Industries and Marico on Wednesday
In a volatile session on Tuesday, Sensex slipped by over 200 points to close at 75,170 while the Nifty settled at 22,888. Healthcare stocks saw some buying while utilities, power, and realty stocks saw selling pressure. DOMS and Exide hit fresh record highs, closing with gains of over 3% each.
New credit card rules, changes in May 2024: These 4 banks have revised their credit card rules
Credit card customers should be aware of the changes and make sure to follow the latest fee and guidelines set by the bank or credit card company. The top banks that have revised their credit card rules this month are Bank of Baroda, Yes Bank, IDBI Bank, and HDFC Bank.
Top altcoins to buy before the market blooms
After the pre-halving rally, the crypto market has been going through a lukewarm period. For strategic investors, this presents excellent opportunities to buy at low costs.
5 ongoing crypto presales set to explode potentially
The low entry point of promising crypto presales allows strategic investors to maintain a healthy risk-reward ratio.
5 undervalued crypto coins for the next bull run
Market relevance, FOMO, and attractive passive income underpin these crypto coins' large growth potential.
National Grid to raise $9 bln in biggest UK rights issue since 2009
National Grid's 7 billion pounds rights issue for energy networks aligns with UK's decarbonisation goal. CEO John Pettigrew assures stable regulatory framework. Shares drop over 10% amid political risk concerns in the sector.
Three crypto coins under $1 with exponential growth potential
The crypto market anticipates a bullish cycle with the potential approval of ETH ETFs. Top cryptocurrencies like BTC are poised to reach $90K, while ETH could hit $5000. Established coins like SOL, XRP, and ADA are expected to achieve new ATHs.
Tesla Europe sales lowest in 15 months
Tesla Inc had a slow start to the second quarter in Europe, with CEO Elon Musk expecting better results. The carmaker registered 13,951 vehicles in April, down 2.3% from last year, its lowest since January 2023.
GAIL hires LNG ship from CoolCo
GAIL (India) Ltd has contracted a newbuild LNG carrier from NYSE-listed Cool Company for 14 years, enhancing its transportation capacity to meet India's rising gas needs. The agreement includes partnerships with Sabine Pass Liquefaction LLC and Cove Point LNG liquefaction terminal.
PSUs in these 5 sectors have a long growth runway: Siddhartha Khemka
Siddhartha Khemka of MOFSL highlights the value of PSUs like Bharat Electronics and discusses various trends including Zomato, urban and rural consumption, two-wheeler sector, shipyard names, Vodafone, and Bharti Airtel. Khemka further says: "Among the PSUs, those in the capital goods space, defence, railways, power, utilities, metals definitely have a runway of growth."
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