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Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 24%
If anyone had any doubt that both indices and broader markets are not in control of bulls, all those doubts were cleared on Friday. For the majority of the day, nifty was trading in red, thanks to the banking stocks and largely the HDFC Bank. But within minutes, Nifty changed its color to green and market breadth, which was already positive, gained momentum. So, while being bullish, stay alert and just make an attempt so that common mistakes of bullish markets are avoided. We look at stocks which have witnessed a continuous rise in their score in the last one month. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Five entities sell 11% stake in Hindustan Foods for Rs 638 crore
Jwalamukhi Investment Holdings, Infinity Consumer Holdings, WestBridge AIF I, Sixth Sense India Opportunities 11, and Konark Trust sold shares of Hindustan Foods in five separate block deals on the National Stock Exchange.
New govt digital locker to store, access, share your medical history: What is ABHA number, eligibility, benefits, how to enrol
ABHA ID card or health ID: Gone are the days when you need to save each and every documents of your medical record for your treatment and insurance. The Centre has introduced ABHA number or health ID, a unique 14-digit number, that will act as your digital health locker. You can easily store and share prescriptions, reports, and bills electronically in Ayushman Bharat Health Account (ABHA). This simplifies managing healthcare for yourself and loved ones, ensuring crucial records are always accessible for diagnosis, treatment, and insurance claims. ET Wealth Online explains — what is ABHA number or health ID, how ABHA number works, how ABHA number will benefit you. Read here
Business families seek legal advice to amend tightly written deeds of family settlement amid global expansion plans
Business families, particularly in India, are increasingly seeking legal counsel to amend rigid Deeds of Family Settlement (DFS) originally drafted decades ago. These deeds, designed to safeguard inheritances, now pose challenges as younger generations seek to expand globally into new sectors like fintech, tech-led consumer businesses, and electric vehicles. Legal experts note that the old deeds lack flexibility for today's globalized and dynamic business environment, prompting families to consider amendments to address issues such as wealth protection, succession planning, and regulatory compliance.
New feature by CDSL to prevent demat related fraud: Know how this will make your accounts with Zerodha, Groww, FYERS and others safer
Demat account: If you have a CDSL demat account (used by stock brokers like Zerodha, Groww, Mirae, Upstox, etc) then you are now set to be protected against fraud after CDSL implements a new two factor authentication feature on the EASI and EASIEST portal. Read here to know more about this.
NSA Jake Sullivan to visit New Delhi to engage new government on shared India-US priorities: White House
US National Security Advisor Jake Sullivan will visit India to discuss shared priorities with the new government, following a call from President Joe Biden to PM Narendra Modi congratulating him on his re-election and emphasizing their commitment to the Indo-Pacific region.
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Tata Sons shares are not freely transferable, say Trusts
SP Group, promoted by the Mistry family, has pledged its entire 18.5% in Tata Sons held through two entities to secure monies from private credit funds such as Ares and Farallon. Additionally, it needs to raise funds for a separate repayment due in three months and refinance existing high-cost borrowings.
Expect LIC’s VNB margin to grow 2-3%, India embedded value to surge at least 10% in FY25: Siddhartha Mohanty
LIC Chairperson Siddhartha Mohanty highlights significant growth in India embedded value and VNB margins, aiming for further growth. Market seeks clarity on VNB margins. Expectations include a 10% increase in IEV this year. Mohanty further says that in the current year, focus will be on catering to certain segments and a specific product will be designed for those segments.
Natasa Stankovic’s post sparks new speculation about divorce with Hardik Pandya
Natasa Stankovic shared a cryptic Instagram post amidst divorce rumors with her husband, Hardik Pandya. The actress posted an image of Lord Jesus with a baby lamb. She was recently seen with fitness trainer Aleksander Alexllic, rumored to be Disha Patani’s boyfriend.
How a woman stock trader lost Rs 7.6 crore in share market investment fraud
In one instance, a Faridabad stock trader lost Rs 7.6 crore after being lured by promises of lucrative investments on social media. The victim's complaint prompted a cyber police investigation and arrest of many persons involved in the scam.
Prestige Estate Projects set to double hospitality portfolio with Rs 1,700 crore investment
Prestige Estate Projects plans to double its hospitality portfolio over the next three to four years, investing Rs1700 crore. The company currently manages 1849 keys of hospitality assets across India, with the potential to generate revenue of Rs 1800 crore. The company is exploring new markets and expanding its portfolio in existing ones. The hospitality assets are generating an average occupancy rate of 70%, and the company is evaluating monetizing the portfolio to unlock value and alleviate cash flow stress.
Fractional ownership platforms start registering under new SEBI regulations
Integrated co-working firm EFC (I) Ltd plans to form an investment manager entity to manage assets and investments of SM REIT through a wholly owned subsidiary EFC Ltd. Others like Strata and WiseX are also taking similar steps. The company’s board has approved a proposal to create a step-down subsidiary under EFC Ltd for acting as an investment manager to SM REIT.
Jio Financial Services shares slump 3% ahead of Q4 results today
Shares of Mukesh Ambani-led Jio Financial Services declined 3% at Rs 372 on BSE in Friday's early tarde as the investors await the fourth quarter earnings’ result later in the day.
Jio Financial shares surge 5% after NBFC signs agreement with BlackRock
Jio Financial Services' shares surged 5% to Rs 371.75 after partnering with BlackRock, Inc. for wealth management and broking. The joint venture aims to revolutionize India's asset management. The Reliance Industries division, listed separately since August 2023, saw a 6.3% monthly and 47.28% quarterly return.
After 6 years, Bain Capital exits Axis Bank, sells 1% stake for Rs 3,574 crore
Bain Capital exits Axis Bank by selling 1% stake at Rs 1,071/share. Previous stake sales in 2022-2023. Investors include Mirae Asset MF, T Rowe Price, Vanguard, BofA Securities, Societe Generale, Copthall Mauritius.
Two entities sell 4.9 pc stake in Gland Pharma for Rs 1,411 cr
Two entities -- Lakumi Trust and Nicomac Machinery -- on Tuesday divested a 4.9 per cent stake in Gland Pharma for Rs 1,411 crore through open market transactions. Lakumi Trust and Nicomac Machinery Pvt Ltd disposed of 81.20 lakh shares of Gland Pharma in separate bulk deals on the National Stock Exchange (NSE).
CCI clears IndoEdge's stake purchase in MG Motor India, other deals
The acquisition of shares in MG Motor India will grant IndoEdge India Fund 8.70% of the voting and economic rights, according to a statement by the antitrust regulator. The acquirer is a large value fund for accredited investors, a scheme by IndoEdge which is a contributory determinate trust registered with the Securities and Exchange Board of India as an alternative investment fund, it said.
New REITs regulations by SEBI is a game changer: 7 ways how it can help fractional real estate investors
New REITs regulations: Here's a primer on how this much-needed transparency could benefit retail investors, as well as HNIs, looking to add the highest-graded commercial real estate to their portfolios using the Real Estate Investment Trusts route.
Rakesh Gangwal sells 5.8% stake in InterGlobe Aviation for Rs 6,786 crore
Gangwal, the co-founder of India’s largest carrier, had said that he would gradually reduce the holdings in the company after stepping down from the board in February 2022. Shobha Gangwal has completely exited the airline.
RBI, Sebi roil stock market with new crackdowns on IPO financing, gold
The Reserve Bank of India has been warning financial services firms to improve their governance and risk assessment systems for months. Even though bad debts are at a more than a decade low, the regulator has clamped down on unsecured lending and asked banks to make more provisions for other loans.
Paytm’s damage control; UPI market share cap back in focus
Happy Monday! The top brass at Paytm held meetings with senior executives at One 97 Communications and Paytm Payments Bank to chart their future course. Details of this and more in today’s ETtech Morning Dispatch.
Alia Bhatt opens up on battling with anxiety, says she manages stress by identifying her 'triggers'
In another AMA session in August, Bhatt had shared that she relies on the 'five senses technique' -- focusing on something one can see, hear, touch, smell and taste -- to cope with an anxiety attack.
Raymond's Gautam Singhania and his wife Nawaz Modi in settlement talks over $1.4 billion wealth amidst separation
Legal sources close to Singhania said both sides are agreed on a more realistic settlement compared to the demand of a 75% share, but details are being thrashed out.
Sebi to amend rules to facilitate small and medium REITs
The regulatory framework approved by the board for SM REITs provides for the structure, migration of existing structures meeting certain specified criteria, obligations of the investment manager including net worth, experience and minimum unit holding requirement, investment conditions, minimum subscription, distribution norms and valuation of assets.
Renault cuts Nissan stake to 15% after transferring shares to trust
The new agreement for the restructured alliance between Renault, Nissan and junior partner Mitsubishi Motors came into effect on Wednesday, the automakers said in the statement.
Mihir Vora on 3 exciting themes to bet on for next 2-3 years
Biggest thing is that you are getting 5% on the US 10-year bond so that obviously is going to suck away some amount of risk capital out there and the fact that when they go underweight China, they relatively need to rebalance the other countries also. So, probably we are seeing some rub-off of that also, I would guess.
Private Trusts Vs HUFs: Which suits your needs to pass on assets to legal heirs?
Will, gift deed, private trusts are some of the most commonly used methods that an individual can use to pass on the assets to his/her family members. There may be instances where will and/or gift deed does not suit the requirements for passing on the assets. Here an individual can compare between private trusts and Hindu Undivided Family to see if either one suits your requirements.
Bharat Inc's Succession Story: How India's biggest family businesses are planning a generational shift
Succession planning is still evolving in Indian companies, with some patriarchs opting not to announce a successor due to doubts about the most suitable candidate or a belief in a natural succession process. Various trends are at play, including the appointment of family members to the board, selling businesses, creating family trusts, and dividing businesses among legal heirs.
Charitable trusts gasp under new regime, plead more time
Well-known firms of audit and tax professionals have requested the finance ministry to defer the new reporting forms.
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