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Dec 28, 2023
Rupee opens flat, may depreciate on FII outflow, elevated crude prices; USDINR to trade in this range

Rupee opened marginally higher at 82.69 per dollar on Wednesday against the previous close of 82.70 per dollar. The local unit is expected to depreciate today amid persistent FII outflow and surge in crude oil prices. Meanwhile, investors will closely watch RBI’s monetary policy, where the central bank is expected to hike interest rate by 25 bps to 6.50%. “The US$INR is likely to surpass the hurdle of 82.85 to continue trading towards the level of 83.00,” said ICICIdirect.

Rupee to trade in 82.40 – 83.10 range

In the previous session, rupee recovered after Monday’s sharp sell-off amid long unwinding ahead of the RBI monetary policy decision. The stable dollar index and recovery in domestic equities also supported the rupee in today’s trade. However, the bias for the rupee remains bearish following foreign fund (FII) outflows and weak technical chart set-up. We believe the central bank may try to protect the level of 83 but the direction could be difficult to change. “In the near term, spot USDINR has support at 82.10 and resistance at 83.10,” said Dilip Parmar, Research Analyst, HDFC Securities.

USDINR to trade sideways

“Rupee consolidated in a narrow range and volatility remained low ahead of the important RBI policy meeting scheduled today. The central bank is expected to raise rats by 25bps but importantly market participants will be awaiting for cues on inflation and growth going ahead. While headline CPI has eased, core inflation remains sticky. Most investors expect that the stance could continue to be a withdrawal of accommodation, even as liquidity is close to neutral,” said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.

“On the other hand, dollar traded with high volatility after the Federal Reserve Chairman said that disinflation “has begun” but is going to take time. He added that if the data shows that inflation is running hotter than the Fed expects, that will mean higher rates. A couple of Fed members are also expected to speak today and that could trigger further volatility for th greenback. We expect the USDINR(Spot) to trade sideways and quote in the range of 82.40 and 82.90,” Somaiya added.

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Dec 26, 2023
NSE Bulk deals, February 1: Manaksia, Mahalaxmi Rubtech, CMNL and other major deals that took place on Wednesday

Nitn Kapoor bought 71,561 shares of AKG Exim Ltd (AKG) at Rs 30.10 per share.

Anant Aggarwal bought 44,800 shares of Aristo Bio-Tech and Lifescience Ltd (ARISTO) at Rs 82.84 per share.

Madhu Devi Godha sold 16,70,514 shares of Godha Cabcon Insulat Ltd (GODHA) at Rs 1.50 per share.

Econo Trading & Investment Pvt Ltd bought 99,697 shares of Goyal Aluminiums Ltd (GOYALALUM) at Rs 202.40 per share.

Millennial Family Trust bought 56,000 shares of Globesecure Techno Ltd (GSTL) at Rs 96.15 per share.

Sanjay B Shah (HUF) sold 21,000 shares of Homesfy Realty Ltd (HOMESFY) at Rs 526.89 per share.

Vignesh sold 2,32,828 shares of Jet Freight Logistics Ltd (JETFREIGHT) at Rs 20.15 per share.

Kumar Sandeep bought 5,03,329 shares of Manaksia Ltd (MANAKSIA) at Rs 130.98 per share.

Amaysha Textiles Pvt Ltd bought 1,55,748 shares of Mahalaxmi Rubtech Ltd (MHLXMIRU) at Rs 256.32 per share.

Vipulkumar Kalyanji Thakor sold 17,000 shares of Richa Info Systems Ltd (RICHA) at Rs 104.00 per share.

Nakshatra Tradelink Pvt Ltd sold 3,32,472 shares of SecUR Credentials Ltd (SECURCRED) at Rs 26.24 per share.

Anshul Aggarwal bought 84,000 shares of Shri Ram Switchgears Ltd (SRIRAM) at Rs 6.70 per share.

A bulk deal is one in which the total number of shares purchased or sold exceeds 0.5% of the company’s share capital. A bulk deal can be completed using either the usual trading window or the block trading window. If a bulk deal is conducted through the block window, the trade must be notified to the exchange promptly.

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Dec 21, 2023
Kishangarh Bas Rajasthan Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

Kishangarh Bas RJ Assembly Election 2023 Details: The election for Kishangarh Bas Assembly Constituency in Rajasthan will be held on November 25 this year. The final date of voting and result were known after the formal announcement by the Election Commission of India. Here are the important details of the Kishangarh Bas Constituency Assembly Election 2023 that you should know.

Kishangarh Bas Constituency Rajasthan Assembly Election 2023: Voting Date

November 25 is the date of voting for the Kishangarh Bas Assembly Constituency Election 2023 as announced by the Election Commission of India.

Kishangarh Bas Constituency Rajasthan Election 2023: Candidates List

Bharatiya Janta Party (BJP), Congress and other political parties in the state will announce their candidates for the Kishangarh Bas Assembly Constituency Election 2023 after the announcement of voting dates by the Election Commission of India.

Why Kishangarh Bas Constituency Assembly Election 2023 is Important

Kishangarh Bas is a state Assembly/Vidhan Sabha constituency in the state of Rajasthan and is part of the Kishangarh Bas Lok Sabha/Parliamentary constituency. Kishangarh Bas falls in the Kishangarh Bas district of Rajasthan and is categorised as an urban seat.

Kishangarh Bas Constituency RJ Election Result: What happened in 2018

Deepchand of the Bahujan Samaj Party was the winning candidate from the Kishangarh Bas constituency in the RJ Assembly elections 2018, securing 73799 votes while 63883 votes were polled in favour of Ramhet Singh Yadav of the Bharatiya Janata Party. The margin of victory was 9916 votes.

2018 Kishangarh Bas Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesDeepchandBahujan Samaj Party73799

Candidate List Party Name Votes Gained (Vote %) Deepchand Bahujan Samaj Party 73799 (41.12%) Ramhet Singh Yadav Bharatiya Janata Party 63883 (35.59%) Dr Karan Singh Yadav Indian National Congress 39033 (21.75%) None Of The Above None Of The Above 980 (0.55%) Jagdish Chandra Abhinav Rajasthan Party 691 (0.38%) Subedin Aam Aadmi Party 680 (0.38%) Sahabuddin Khan Bharatiya Yuva Shakti 424 (0.24%)

Kishangarh Bas Constituency RJ Election Result: What happened in 2013

Ramhet Singh Yadav of the Bharatiya Janata Party was the winning candidate from the Kishangarh Bas constituency in the RJ Assembly elections 2013, securing 71354 votes while 56538 votes were polled in favour of Deep Chand Khairiya of the Indian National Congress. The margin of victory was 14816 votes.

2013 Kishangarh Bas Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesRamhet Singh YadavBharatiya Janata Party71354

Candidate List Party Name Votes Gained (Vote %) Ramhet Singh Yadav Bharatiya Janata Party 71354 (46.43%) Deep Chand Khairiya Indian National Congress 56538 (36.79%) Dr Dinesh Yadav Independent 13313 (8.66%) Sapat Khan Bahujan Samaj Party 8530 (5.55%) None Of The Above None Of The Above 1722 (1.12%) Shyam Lal Independent 1012 (0.66%) Kurshed Janata Dal (secular) 328 (0.21%) Shiv Kumar Gour Jammu & Kashmir National Panthers Party 255 (0.17%) Mintu Kumar Indian Peoples Green Party 226 (0.15%) Shahbudin Bharatiya Yuva Shakti 222 (0.14%) Raju Samajwadi Party 186 (0.12%)

Kishangarh Bas Constituency RJ Election Result: What happened in 2008

Ramhaet Singh of the BJP was the winning candidate from the Kishangarh Bas constituency in the RJ Assembly elections 2008, securing 31594 votes while 29484 votes were polled in favour of Deep Chand of the INC. The margin of victory was 2110 votes.

2008 Kishangarh Bas Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesRamhaet SinghBJP31594

Candidate List Party Name Votes Gained (Vote %) Ramhaet Singh BJP 31594 (26.48%) Deep Chand INC 29484 (24.71%) Sher Mohmed BSP 17835 (14.95%) Om Prakash Rogha IND 16401 (13.75%) Bharat Yadav IND 11851 (9.93%) Dr Veer Singh IND 2484 (2.08%) Jameel Khan IND 2400 (2.01%) Het Ram LJP 2088 (1.75%) Sahab Singh IND 1294 (1.08%) Suraj Bhan IND 845 (0.71%) Shyam Lal IND 491 (0.41%) Rohitash IND 461 (0.39%) Mool Chand IND 388 (0.33%) Anil Kumar IND 357 (0.3%) Suresh Chand IND 308 (0.26%) Tej Prakash IND 265 (0.22%) Inder Singh IND 236 (0.2%) Babu Lal IND 173 (0.15%) Dayananad Jat IND 133 (0.11%) Ashok IND 116 (0.1%) Daulat Ram (bharti) IND 97 (0.08%)

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Dec 21, 2023
Adani Enterprises share price rises 25%, Adani Transmission hits upper circuit as Hindenburg effect dims

Adani Enterprises shares surged 25% today, touching an intraday high of Rs 1965.50 on BSE after a freefall of 54% over the last eight trading sessions in the aftermath of the Hindenburg Research report, which accused the Adani group of manipulating stocks and money laundering. The other shares of the Adani group companies too were broadly trading in the green today. Adani Transmission shares were locked in the upper circuit, rising 5% to Rs 1324.45 after the company’s net profit rose 73% on-year to Rs 478 crore, aided by a one-time income of Rs 240 crore from a regulatory order. Adani Ports and Special Economic Zone shares rose 6.35% to Rs 580.70, ahead of its fiscal third quarter results due later today. Adani Green shares rose 2.75% to Rs 912.00; Adani Wilmar shares rose 5% to Rs 399.40; Adani Power Ltd fell 2% to Rs 178.80; and Adani Total Gas slipped 5% to Rs 1467.50.

The rise in the Adani stocks follows the announcement made by the group on Monday that it will prepay loans backed by pledged shares across group companies Adani Green, Adani Transmission, and Adani Ports. Adani Green said that the group promoters have posted as much as $1.1 billion of amount towards prepayment of the share-backed facility ahead of its maturity of September 2024. Adani group has released 12% of the promoter holding in Adani Ports; 3% of promoter holding in Adani Green; and 1.4% of promoter holding in Adani Transmission.

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Dec 20, 2023
Rating: add; Equitas SFB – Steady improvement

Equitas Small Finance Bank reported 57% y/y earnings on the back of 24% y/y operating profit growth and 35% y-o-y decline in provisions resulting in RoA crossing 2% and RoE nearing 15%. Total stress pool declined with gross/net NPL ratios down 30/20 bps q/q. Growth momentum improved with loan growth implying business normalisation.

Retain ADD rating . NII growth of 20% y/y drove strong revenue performance, while operating expenses were up 16% y/y driven by employee additions. AUM growth was broad-based with all the key segments (SBL, MFI and vehicle finance) growing at 25-30% y/y, indicating management’s comfort in growing across the board.

Estimates indicate that 36% of the peak restructured book has slipped into NPA in the past 4 quarters. While slippages were higher than expected, the broader improvement in trend on delinquencies and net slippages give us comfort on asset quality improvement. While Covid posed a challenge for bank’s customer base, a low share of unsecured loans prevented a sharp deterioration in asset quality.

Higher focus on business growth should now help the bank report steady improvement in earnings.

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Dec 19, 2023
Nifty slips below 17850, Sensex falls 200 pts in early trade on Fri, Feb 10; Zomato shares tank 4%, LIC gains 2%

Domestic equity indices opened in the red on Friday amid weak global cues. The BSE Sensex fell 244 pts or 0.40% to 60,562.17 and NSE Nifty 50 slipped 75.70% or 0.42% to 17,817.75. The top gainers on Sensex were Larsen & Toubro (up 0.82%), Power Grid (up 0.52%), State Bank of India (SBIN) (up 0.0.48%), Bajaj Finance (up 0.42%) and UltraTech Cement (up 0.40%) while HCL Tech (down 2.29%), Tata Steel (down 1.93%), Wipro (down 1.08%), Infosys (down 1.04%) and Reliance Industries Ltd (down 1.05%) were the top laggards.

Zomato shares tanked 4.41% to Rs 52.00 after the company’s fiscal third-quarter net loss widened over five-fold on-year to Rs 343 crore from Rs 66 crore, mainly due to an exceptional gain in the same quarter last year.

Sectoral Indices

The sectoral indices were trading mostly lower. Bank Nifty fell 0.09%, Nifty Auto was down 0.15%, Nifty FMCG was down 0.38%, Nifty Pharma was down 0.71%, Nifty Realty was down 0.48%, and Nifty Metal dropped 1.63%.

Asian and US stock markets

Most of the Asian markets were trading in red with China’s Shanghai Composite index falling 0.16%, Hong Kong’s Hang Seng dropping 1%, South Korea’s KOSPI dipping 0.48% and Japan’s Nikkei 225 rising 0.53%.

The US markets ended the overnight session lower. The Dow Jones Industrial Average fell 249.13 pts or 0.73% to 33,699.88, S&P 500 sank 36.36 pts or 0.88% to 4,081.50 and Nasdaq tanked 120.94 pts or 1.04% to 11,789.58.

FII and DII data

Foreign institutional investors (FII) sold shares worth a net Rs 144.73 crore while domestic institutional investors (DII) offloaded shares worth a net Rs 205.25 crore on Thursday, February 9, 2023, according to the data available on NSE. For the month till February 9, FIIs sold shares worth a net Rs 6,872.23 crore while DIIs bought shares worth a net Rs 6,744.39 crore.

NSE F&O Ban

Indiabulls Housing Finance and Ambuja Cements are the stocks/securities placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Friday, February 10. According to the NSE, the stocks mentioned above are prohibited in the F&O sector because they have exceeded 95% of the market-wide position limit (MWPL). 

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Dec 18, 2023
Rupee gains 10 paise to close at 82.72 against US dollar

The rupee appreciated by 10 paise to close at 82.72 (provisional) against the US dollar on Monday, as the American currency retreated from its elevated levels.

Forex traders said a muted trend in domestic equities and foreign fund outflows weighed on investor sentiments and restricted the appreciation bias.

During the trading session, the rupee touched a high of 82.62 and a low of 82.74 against the dollar.

Also read: Global trends, FIIs activities to dictate domestic markets; Apollo Tyres, Bajaj Finance among top stock picks

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.04 per cent to 103.90.

Global oil benchmark Brent crude futures advanced 1.05 per cent to USD 83.87 per barrel.

“Rupee traded strong near 82.75 as dollar index traded below USD 104 guiding rupee strength. Asian currencies were trading strong on the back of weakness in the dollar,” said Jateen Trivedi, VP Research Analyst at LKP Securities.

Also read: Sensex rises 130 pts, Nifty above 17950 in early trade on Monday, Feb 20; HUL stock gains, Cipla shares fall 5%

Trivedi further noted that the US Fed’s minutes update will be keenly watched this week for further trend.

On the domestic equity market front, the 30-share BSE Sensex declined 311.03 points or 0.51 per cent to end at 60,691.54, while the broader NSE Nifty fell 99.60 points or 0.56 per cent to 17,844.60.

Foreign Institutional Investors (FIIs) were net sellers in the capital market on Friday as they offloaded shares worth Rs 624.61 crore, according to exchange data.

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Dec 14, 2023
Nifty, Bank Nifty outlook today: Indices under pressure amid negative sentiment; check support, resistance

Indian benchmark equity indices to remain under pressure amid negative sentiment in the global markets. The trends on SGX Nifty, Asian and US markets suggest that Sensex and Nifty will stay in the red territory today. The Nifty futures on the Singaporean exchanges were trading 68 pts or 0.38% lower at 17,777.00 in the early morning trade. All major Asian markets were trading in the red. The US markets ended Tuesday’s session broadly lower with Dow Jones Industrial Average tanking 697.01 pts or 2.06% to 33,129.59, tech-heavy Nasdaq sank 294.97 pts or 2.50% to 11,492.30 and S&P 500 plunged 81.75 pts or 2% to 3,997.34. On Tuesday, the Sensex fell 18.82 pts or 0.03% to 60,672.72 and the Nifty 50 dipped 17.90 pts or 0.10% to 17,826.70.

Nifty Outlook:

Nifty immediate support at 17750

“Nifty bias remains negative as it falls back into the descending channel on the daily chart. Besides, the momentum oscillator RSI has entered a bearish crossover. On the lower end, immediate support is visible at 17750, below which the selling pressure may increase,” said Rupak De, Senior Technical Analyst at LKP Securities.

US fed meeting minutes eyed

“Underpinned by inflationary concerns, the market is keenly eyeing the US fed meeting minutes for hints on further monetary policy tightening. Risk appetite was further hammered by FIIs turning net sellers and fear of El Niño,” said Vinod Nair, Head of Research at Geojit Financial Services.

Bank Nifty outlook:

Bank Nifty trading at critical support zone of 40500

“Bank Nifty is now trading at a critical support zone of 40500 and if it manages to stay above this level can witness a pullback rally towards 41,000-41,300 levels. The mentioned support if breached will lead to further sell-off towards 40,000 where a significant amount of put writing is visible,” said Kunal Shah, Senior Technical Analyst at LKP Securities.

Bank Nifty strong hurdle at 41100

“Bank Nifty has failed to break through the 42000 level and has fallen below the 40800 support level. There is a risk that it may revisit the low of 39400, which may coincide with its 200-DMA. On the upside, 41100 will act as a strong hurdle,” said Pravesh Gour, Sr. research analyst, Swastika Investmart.

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Dec 12, 2023
Is NSE looking to extend trading hours? Amid fresh buzz, experts say it may help in hedging ‘overnight’ risk

Longer trading hours in the Indian stock markets can potentially decrease the overnight risk arising from global information flow, experts said on Tuesday.

The remarks came amid media reports that the National Stock Exchange (NSE) is looking to extend the trading hours in the equity segment till 5 pm.

At present, the domestic stock markets are open between 9:15 am and 3:30 pm.

“In today’s world, economies are highly connected and the integration of the global markets is gradually increasing. The Indian stock market reacts to the developments in other major economies and markets in the US and Europe. Therefore, markets which have longer trading hours can hedge the risk arising due to the global information flow in a more efficient way,” A Balakrishnan, Executive Director at Geojit Financial Services, said.

Therefore, any move by the NSE to increase the trading time for the equity segment will help the market participants and retail investors, he added.

Tejas Khoday, Co-Founder and CEO of FYERS, said that extending market hours in the equity F&O and currency segments is necessary for hedging overnight risk from global uncertainties.

He, further, said that resistance and negativity regarding this topic could inhibit the growth of our capital markets because financial markets are increasingly interconnected, and cutting off access to hedge will prevent India from becoming a global investment destination.

“Extended trading hours for F&O will maybe signal the maturity of our markets. They also level the playing field for domestic traders against international traders and are also good for capital markets businesses in terms of revenues, but I’m conflicted,” Zerodha Co-Founder Nithin Kamath tweeted.

Market experts said that extended trading hours would assist in increasing capital formation by enabling more people from India to participate and attract foreign investors to invest and hedge their portfolios with currency and equity F&O.

In January, Sebi came out with a standard operating procedure (SOP) asking stock exchanges to inform about trading disruptions to stakeholders within 15 minutes of such occurrences and extending the trading time by one-and-a-half hours in certain outage conditions.

In 2018, the markets regulator allowed stock exchanges to set their trading hours in the equity derivatives segment between 9:00 am and 11:55 pm.

This was similar to the trading hours for commodity derivatives segment which are presently fixed between 10 am and 11:55 pm. The move was part of Sebi’s efforts to enable integration of stocks and commodities trading on a single exchange.

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Dec 9, 2023
Vodafone Idea share price jumps 25% as govt logs in; is it finally time to invest in VI?

Vodafone Idea shares surged 25% in trade on Monday as the government permitted converting the telecom operator’s interest dues into equity. Vodafone Idea scrip touched an intraday high of Rs 8.55, up 24.8% from Friday’s close of Rs 6.85. The net present value of the interest dues regarding the AGR dues and deferment of spectrum auction installments amounts to Rs 16,133.10 crore which will be converted into a 33% stake in the loss-making operator.

The market capitalization of the company rose to Rs 26,819 crore on the back of this news. As a result of the government’s reform package, VI will issue 16 billion fresh shares, adding to its existing base of 32 billion fully-paid up equity shares. The issue price of Rs 10 came at a premium of 45.9% to Friday’s closing price. The latest TRAI data suggested that Vodafone Idea held a 21.32% market share, with 249.82 million subscribers.

Vodafone Idea company outlook: Challenging times ahead

Tapse added that raising funds for daily expenditure is the biggest challenge VI faces, stating, “I believe the challenge is going to increase more and more going forward with weaker than expected subscriber data. Time being the news is positive but poor business outlook and balance sheet would still be a concern for long term investors.”

Vodafone Idea share price outlook: Here’s what technical charts say

Rameshver Dongre, Research Analyst – Equity Research, CapitalVia added that the impact of the refinancing package is overall positive. VI underperformed on the daily chart over the last one year, but is up nearly 40% from its 52-week low on Monday. “On the higher side the range of Rs 8.65 to 9.00 will be crucial; if any closing is completed above this range, then only fresh buying is suggested. Until that point, it is in the negative region and may go even lower, down to the 6.30 level. Investors reduce their weight from this share when it comes higher around the 8.65-9.00 range,” he stated.

Offering a contrary opinion, A R Ramachandran, Co-owner, Tips2trades, said, “Vodafone Idea looks bullish on the daily charts. A close above 7.85 could lead to higher targets of 10.10-11.5 in the near term. Support will be at 6.85.”

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