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May 13, 2023
Sebi tweaks operational framework on credit rating agencies

Sebi on Friday tweaked its operational circular on credit rating agencies (CRAs), asking them to have a detailed policy by March-end in respect of non-submission of crucial information, including quarterly financial numbers, by the issuers.

Also, the detailed policy should contain methodology in respect of assessing the risk of non-availability of information from the issuers, including non-cooperative issuers and the steps to be taken under various scenarios in order to ascertain the status of non-cooperation by the issuer company.

Also read: Markets Wrap – Fri, 3 Feb ‘23: Stocks skyrocket, rupee gains; Asia, Europe markets, Gold, Crude, Crypto updates

The CRA in its judgement may migrate a rating to the INC category before the expiry of three consecutive months of non-receipt of NDS.

In its fresh circular for CRAs, the regulator said that these requirements would be applicable by March 31, 2023.

Prior to that, the Securities and Exchange Board of India (Sebi) came out with an operational circular on CRAs in January, which was to come into effect from February 1.

In its fresh circular, Sebi said that the MD or CEO of a CRA and any person within CRA who has business responsibility would not be a member of rating committees of the agency.

At the time of withdrawal of any credit rating of securities that are listed on a stock exchange, the CRA would have to assign a rating to such security and issue a press release in a prescribed format, except in cases where there are no outstanding obligations under the security rated by the CRA or the company whose security is rated is wound up or merged or amalgamated with another firm.

Further, the press release should also mention the reason for withdrawal.

Also read: Gold Price Today, 3 Feb: Gold may be volatile, prices hit by profit-taking; traders eye US jobs data

With regard to guidelines on the listed securities or instruments falling under the purview of other financial sector regulators, Sebi said that issuers of such instruments and any person connected therewith would abide by the rules as prescribed by such financial sector regulator.

Further, if such instruments are listed on a stock exchange, the rules specified by Sebi from time to time would continue to be applicable.

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May 11, 2023
Nifty’s close below 16800 to be negative for D-St; Buy SBI, ITC, others to pocket gains, charts show strength

By Shrikant Chouhan

Benchmark indices BSE Sensex and Nifty 50 recorded volatile price action on Monday. Even though Nifty 50 / BSE Sensex opened below the psychological level of 17000/56500, they closed at 17069/56975, which is positive for the short term trend of the market. Fresh buying was seen in HDFC Bank and Housing Development Finance Corporation (HDFC), while profit-booking was seen in auto and technology stocks. Technically, the market is holding above the level of 16800, but at the same time, it is failing to show sustained momentum. In short, the market is consolidating within a broad trading range of 17400-16800.

Technical stocks to buy

ITCBUY, CMP: Rs 263.15, TARGET: Rs 280, SL: Rs 255

After remarkable rally in the past few weeks the stock went into a range bound mode. At present, the stock is seen coming out of the consolidation phase with a range breakout. And hence the formation indicates a further uptrend from the current levels.

Muthoot Finance BUY, CMP: Rs 1,273.65, TARGET: Rs 1,340, SL: Rs 1,245

The counter had been in a declining trend in the past many months. However, at present there is a pause in its downward movement due to its strong multiple support levels. As the stock is available near to its demand zone which could act as a strong base, simultaneously making it a favorable candidate in terms of risk and reward.

Ultratech CementBUY, CMP: Rs 6,679, TARGET: Rs 7,020, SL: Rs 6,540

On the monthly scale, the stock has presented a robust rally, after a breather of few trading sessions, it has taken a pause in the momentum within a range. Currently, the counter is trading near the lower boundary of the range which indicates reversal from current levels.

State Bank of India (SBI)BUY, CMP: Rs 491, TARGET: Rs 515, SL: Rs 480

The stock witnessed gradual price decline from the higher levels, however, its down move took a pause with a hammer candlestick pattern. The counter has formed a reversal formation with decent volume activity and retreated from the lower levels for a fresh leg of uptrend in coming trading sessions.

(Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities, Views expressed are the author’s own.)

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May 6, 2023
Nifty may head to 17250-17350 if it holds 17050; watch RIL, Airtel, IRCTC, BPCL stocks for action

By Shivangi Sarda

Nifty index opened positive on Wednesday and remained range-bound within a trading range of 100 points for the most part of the day. During the day it witnessed buying interest from 17050 to 17186 marks but the absence of follow up was not allowing it to hold at higher zones. It formed an Inside Bar and a Harami candle on daily scale and closed the day with gains of around 180 points.

Bank Nifty opened positive but relatively underperformed the market. It moved in a zig-zag fashion throughout the session and closed flattish with losses of around 25 points. It formed a small-bodied Bearish candle and an inside Bar on the daily scale.

For weekly Bank Nifty, maximum Put OI is at 36000 then 34500 strike and maximum Call OI is placed at 38000 then 37000 strike. We have seen Call writing in 36500 while Put writing was witnessed at 34500 strike. Now till it holds below 36500 zones, weakness can be seen towards 36000 and 35750 whereas hurdles are placed at 36750 and 37000 zones.

On sectoral front, PSU Banks, Media, Metal and Financial Services stocks traded in the negative territory and the Auto, IT, FMCG and Pharma sectors showed the most strength.

Now for the day point of view, it has to hold above 17050 zones, for an up move towards 17250 and 17350 whereas support can be seen at 16950 and 16800 zones. However, till Nifty doesn’t surpass 17350 zones, overall medium-term setup could find pressure at higher zones. Traders are advised to apply the buy on decline strategy and be with stock specific action in Ambujacem, Ultracemco, BPCL, Reliance Industries, Astral, Ramcocem, UPL, Hindpetro, IOC, Bharti Airtel, BEL, Havells, and AU Bank while weakness in LTI, SAIL, IGL, IRCTC, LT, and Glenmark.

(Shivangi Sarda is an Analyst – Equity Derivatives & Technicals, Broking & Distribution, Motilal Oswal Financial Services Ltd. Views expressed are the author’s own.)

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May 6, 2023
Stocks shrug off rates risk as US consumers spend

Bonds fell and the dollar rose on Thursday as roaring U.S. retail sales had investors reckoning on interest rates staying higher for longer to temper demand, though stock markets were focused on the bright side for earnings and climbed a little. The S&P 500 rose 0.3% overnight. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.6% in early trade. Japan’s Nikkei rose 0.6%.

The greenback stood near six-week highs against the yen, yuan and kiwi. Benchmark 10-year Treasury yields, which rise when bond prices fall, hit their highest since early January. U.S. retail sales increased by the most in nearly two years in January – up 3%, against expectations of a 1.8% rise – as Americans bought cars, clothes and furniture despite higher borrowing costs.

“A lot of the data has been quite positive, so people might be thinking: ‘Where’s the recession?’” said Jason Wong, a senior market strategist a BNZ in Wellington. “It’s positive for earnings and that can offset rates – at least that’s the charitable explanation,” he said. “Either that, or it’s a massive ‘sell’ (signal)”.

U.S. interest rate futures – which only a couple of weeks ago implied the Fed funds rate, currently fixed between 4.5% and 4.75%, would drop below 4.5% by year’s end – now see rates above 5% through the year.Two-year Treasury yields, which also track short-term interest rate expectations, hit their highest since November at 4.703% overnight. The ten-year yield hit 3.828% on Thursday.S&P 500 futures rose 0.2%.

DOLLAR ASCENDANT

Around Asia, South Korea’s Kospi led gains with a 1.4% rise. The Hang Seng rose 0.7% and mainland Chinese stocks were flat. Australia’s ASX 200, where companies are in the midst of earnings reporting, rose 0.9%. Wealth manager AMP led losers with a 34% annual profit drop that sent its struggling shares down 13%. A 26% gain in profit at telco Telstra drove the stock to a one-year high. Elsewhere the repricing of the interest rates outlook is putting an end to a couple months of selling of the dollar in currency markets.

The U.S. dollar index is eying a third weekly gain in a row – the longest streak since September, when the index was galloping towards a 20-year high. The dollar made a six-week high of 134.36 yen on Wednesday and hovered at 133.99 early on Thursday. It is also testing resistance near $1.0656 per euro and was last at $1.0669.

The Australian dollar fell 0.5% and through its 50-day moving average to $0.6868 after a surprise rise in unemployment that also cooled bets on interest rate hikes.”The Aussie still has some support around the $0.6850/80 area, but with the U.S. dollar in the ascendancy, the Aussie is certainly looking vulnerable,” said Rodrigo Catril, senior currency strategist at National Australia Bank in Sydney.

Commodities have struggled for traction as the dollar has gained. Brent crude futures were up 0.2% to $78.76 on Thursday. Gold was attempting to steady at $1,840 an ounce. Bitcoin, meanwhile, has been on a tear. It hit a six-month high of $24,895.

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May 6, 2023
Tuivawl Mizoram Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

Tuivawl MZ Assembly Election 2023 Details: The election for Tuivawl Assembly Constituency in Mizoram will be held on November 7 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 Tuivawl Constituency Assembly Election 2023 that you should know.

Tuivawl Constituency Mizoram Assembly Election 2023: Voting Date

November 7 is the date of voting for the Tuivawl Assembly Constituency Election 2023 as announced by the Election Commission of India.

Tuivawl Constituency Mizoram Election 2023: Candidates List

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

Why Tuivawl Constituency Assembly Election 2023 is Important

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

Tuivawl Constituency MZ Election Result: What happened in 2018

Lalchhandama Ralte of the Mizo National Front was the winning candidate from the Tuivawl constituency in the MZ Assembly elections 2018, securing 5207 votes while 5204 votes were polled in favour of R L Pianmawia of the Indian National Congress. The margin of victory was 3 votes.

2018 Tuivawl Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesLalchhandama RalteMizo National Front5207

Candidate List Party Name Votes Gained (Vote %) Lalchhandama Ralte Mizo National Front 5207 (39.41%) R L Pianmawia Indian National Congress 5204 (39.39%) Judy Zohmingliani Bharatiya Janata Party 1607 (12.16%) K Romawia Independent 1083 (8.2%) H K Hlimpawlthanga Independent 58 (0.44%) None Of The Above None Of The Above 52 (0.39%)

Tuivawl Constituency MZ Election Result: What happened in 2013

R L Pianmawia of the Indian National Congress was the winning candidate from the Tuivawl constituency in the MZ Assembly elections 2013, securing 5668 votes while 4297 votes were polled in favour of Gogo Lalremtluanga of the Mizo National Front. The margin of victory was 1371 votes.

2013 Tuivawl Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesR L PianmawiaIndian National Congress5668

Candidate List Party Name Votes Gained (Vote %) R L Pianmawia Indian National Congress 5668 (45.41%) Gogo Lalremtluanga Mizo National Front 4297 (34.42%) Lalmuanpuia Punte Zoram Nationalist Party 2412 (19.32%) C Ramkinlova Bharatiya Janata Party 63 (0.5%) None Of The Above None Of The Above 43 (0.34%)

Tuivawl Constituency MZ Election Result: What happened in 2008

R L Pianmawia of the INC was the winning candidate from the Tuivawl constituency in the MZ Assembly elections 2008, securing 4276 votes while 3803 votes were polled in favour of Gogo Lalremtluanga of the MNF. The margin of victory was 473 votes.

2008 Tuivawl Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesR L PianmawiaINC4276

Candidate List Party Name Votes Gained (Vote %) R L Pianmawia INC 4276 (36.69%) Gogo Lalremtluanga MNF 3803 (32.64%) Lalduhawma ZNP 3222 (27.65%) Lalhualthanga BJP 233 (2%) Lalrinawma LJP 67 (0.57%) Lalrosema LB 52 (0.45%)

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May 5, 2023
Sebi proposes more power to shareholders, special focus on ‘new-age tech companies’

India’s market regulator has proposed changes to governance norms for listed entities that give more rights to shareholders, while increasing corporate disclosures on agreements binding them, a consultation paper showed on Tuesday.

Any agreements that impact the management or control of a listed entity or create a liability for it must be disclosed, the Securities and Exchange Board of India (SEBI) proposed in the consultation paper.

Such rights are against the fundamental principles of corporate governance and shareholder democracy, according to the regulator.

The SEBI also suggested that shareholder approval be sought for any special rights granted to certain shareholders, including promoters, particularly where such rights may have been granted before listing.

In the so-called ‘new-age tech companies’, the regulator has observed that institutional investors are increasingly voicing their concerns against special rights given to founders and other entities connected to a company.

And even if the shareholding gets diluted over the years, these rights are available to founders/entities in perpetuity.

Any such special right shall be subject to shareholder approval once every five years, the regulator proposed while seeking views from stakeholders.

Amit Tandon, chief executive of proxy advisory firm Institutional Investor Advisory Services, says that in all its recent voting recommendations it has highlighted that shareholder rights cannot be available in perpetuity.

“The shareholders you start with may not be shareholders in the future. The new incoming shareholders should have right to look at the special rights granted to anyone. Ideally, all the special rights need to drop-off at the time of the company going public,” said Tandon.

Starting April 1, 2024, the SEBI proposes that shareholder approval be made mandatory for any director serving on a listed company’s board once in five years.

The suggestion comes in the context of board directors whose appointment or reappointment has not been subject to shareholder approval in the last five years. The regulator also wants to do away with anomaly where directors have been accorded protection via articles of association (AoA)- a company’s internal document specifiying its governance and operations – as not liable to ‘retirement by rotation’ and without any defined tenure. The regulator’s relook comes following a tussle between Yes Bank and Dish TV Ltd in July 2022. Despite the shareholders, including Yes Bank, voting against reappointment of founding director Jawahar Goel as the chairman, he continued to remain as director since the AoA passed three months before Dish TV’s market debut prevented him from retiring due to rotation.

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May 5, 2023
Share Market Highlights: Nifty closes above 17850, Sensex gains 300 pts; Bank Nifty, IT rise, Paytm shares surge 15%

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian equity indices surged on Wednesday after RBI MPC raised the key interest rate by 25 basis points, taking the repo rate to 6.5%. The rate hike was in line with market expectations. The Nifty closed above 17850 and Sensex settled above 60650. The BSE Sensex rose 377.75 points or 0.63% to 60,663.79 and NSE Nifty 50 jumped 150.20 pts or 0.85% to 17,871.70. The top gainers of the Adani Enterprises, Adani Ports, HDFC Life, SBI Life and Bajaj Finance while the losers were Larsen & Toubro, Eicher Motors, Hero Motocorp, Axis Bank and Hindustan Unilever Ltd.

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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights Wednesday 8 February

15:47 (IST) 8 Feb 2023 Top gainers/losers

The top gainers of the Adani Enterprises, Adani Ports, HDFC Life, SBI Life and Bajaj Finance while the losers were Larsen & Toubro, Eicher Motors, Hero Motocorp, Axis Bank and Hindustan Unilever Ltd.

15:44 (IST) 8 Feb 2023 Nifty, Sensex end in green

The BSE Sensex rose 377.75 points or 0.63% to 60,663.79 and NSE Nifty 50 jumped 150.20 pts or 0.85% to 17,871.70.

15:29 (IST) 8 Feb 2023 Adani Wilmar shares rise 5%

Adani Wilmar shares were locked in the upper circuit, rising 5% to Rs 419.35 after the company’s Q3FY23 consolidated net profit jumped 16% on-year to Rs 246 crore.

15:27 (IST) 8 Feb 2023 Paytm shares surge 15% after Q3 revenue rises 42%

Paytm share rose 15.88% to Rs 682.85 after the company reported a revenue of Rs 2,062 crore in Q3FY23, up 42% on-year, while the firm’s contribution profit was up 131% on-year at Rs 1,048 crore.

13:37 (IST) 8 Feb 2023 Nifty’s crucial support level seen at 17650, Bank Nifty’s placed at 41000

“The market is in a range where the 20-DMA is acting as a key hurdle for both Nifty and Banknifty. 17880 is the 20-day moving average for the Nifty, while 41800 is the 20-day moving average for the Banknifty. We are again seeing selling pressure from these levels, and Nifty and Banknifty both have to cross their 20-DMA for any short-covering rally. On the downside, 17650 and 41000 are important support levels for Nifty and Banknifty, respectively.” – Santosh Meena, Head of Research, Swastika Investmart Ltd.

13:23 (IST) 8 Feb 2023 Nifty outlook following RBI MPC meeting

“Nifty continued to oscillate in the broad horizontal band of 17,350 to 18,150 with a sideways to higher tendency. Prices witnessed a sharp rebound from the vicinity of 200-day SMA last week, making that area stiff to be taken out. As ongoing sentiments are still moderately bullish, every fall close to 17,500-17,400 will accompany fresh buying. However, a sustainable fall below 17,350-17,300 can be seen as a short-term bearish reversal for 16,900-16,800. On the upside, 18,150-18,270 will act as an immediate supply zone, which if broken decisively will extend such advance for 18,450 and then 18,650.”

– Palka Arora Chopra, Senior Vice President, mastertrust.

10:30 (IST) 8 Feb 2023 Bank Nifty rises over 100 pts

Banking stocks surged 140 pts or 0.34% to 41,631.65 as RBI Governor Shaktikanta Das announced a 25 bps interest rate hike. The index’s top gainers are the State Bank of India, Punjab National Bank, ICICI Bank, HDFC Bank and Bandhan Bank while Kotak Bank, Bank of Baroda and AU Bank were the laggards.

10:10 (IST) 8 Feb 2023 Sensex surges 500 pts, Nifty above 17850

The BSE Sensex surges 497.63 pts or 0.83% to 60,783.67 and NSE Nifty 50 rose 144.45 pts or 0.82% to 17,865.95 as RBI MPC decided to raise the current repo rate by 25 bps from 6.25% to 6.5%. Decided by 4:2 majority.

10:00 (IST) 8 Feb 2023 Nothing new in Fed chiefs speech

“Fed Chief Powell has simply reiterated that fact which the market already knows. He has mentioned that the further course of interest rates will be data-dependent. Jobs report and inflation are the two main deciding factors for interest rates. Job market is still overheated but inflation is on its way down and I expect it to be significantly lower in second half of the year. Fed Chief has tried to maintain a hawkish tone but the market has already factored in that a peak in interest rates coming soon,” said Apurva Sheth, Head of Market Perspectives & Research, SAMCO Securities.

09:32 (IST) 8 Feb 2023 Top gainers/losers

The top gainers on the Nifty are Adani Enterprises, Adani Ports, UltraTech Cement, Hindalco and SBI Life while the top losers are Bharti Airtel, Eicher Motors, Hero MotoCorp, Maruti and Bajaj Auto.

09:26 (IST) 8 Feb 2023 Sensex, Nifty open in green

The NSE Nifty 50 rose 66.85 points or 0.38% to 17,788.35. The BSE Sensex climbed 220.75 pts or 0.37% to 60,506.79.

09:16 (IST) 8 Feb 2023 Sensex, Nifty end pre-open in green

Markets end pre-open in green. The NSE Nifty 50 ended 28.80 or 0.16% higher at 17,750.30. The BSE Sensex rose 46.95 pts or 0.08% to 60,332.99.

08:35 (IST) 8 Feb 2023 US market concludes in green

The US equity indices ended the overnight session in green. The Dow Jones Industrial Average rose 265.67 or 0.78% to 34,156.69, S&P 500 rose 52.92 pts or 1.29% to 4,164.00 and Nasdaq Composite Index rose 226.34 or 1.90% to 12,113.79.

08:30 (IST) 8 Feb 2023 Asian markets trade mixed

Asian markets were trading mixed in the early morning trade on Wednesday. Japan’s Nikkei 225 fell 142 pts or 0.51% to 27,543.39, China’s Shanghai Composite index rose 1.08 pts or 0.03% to 3,249.17, Hong Kong’s Hang Seng rose 27.61 pts or 0.16% to 21,326.31 and South Korea’s KOSPI rose 30.08 pts or 1.23% to 2,481.79.

08:23 (IST) 8 Feb 2023 Bank Nifty undertone remains bearish; investors should keep buy-on-dip approach

“The BANK NIFTY index continued to trade in a broad range ahead of the RBI policy wherein 41,000 is a support and 42,000 is a resistance. The index needs to break this range on either side decisively for trending moves. The undertone remains bearish within the range and once should keep a buy-on-dip approach.” – Kunal Shah, Senior Technical Analyst at LKP Securities.

08:22 (IST) 8 Feb 2023 Nifty support seen at 17,600, if breached will lead towards 17,450-17,400

“The Nifty index faces stiff resistance around the 17,800-17,850 zone where aggressive call writing is visible. The index needs to surpass this level on a closing basis to witness a short covering move toward the 18,200 level. The support on the lower end is at the 17,600 level and if breached will lead to a further correction towards 17,450-17,400 levels.” – Rupak De, Senior Technical Analyst at LKP Securities.

08:20 (IST) 8 Feb 2023 Nifty trend continue to remain sideways within 17500-18000

“The Indian market ended on the negative side as a lack of optimism around the global indices prevails. Investors would lookout for significant occurrences this week. For the time being, the trend may continue to be sideways within the 17500-18000 range. The directional movement would be continued after breaking this level. Technically, the Nifty has struggled to hold 17800 levels; however intraday upswing would be anticipated in the upcoming days. RSI and MACD indicate a neutral view currently. OI Data indicates, on the call side the highest OI was witnessed at 18000 followed by 178000 strike prices while on the put side, the highest OI was at 17500 strike price. Nifty Put Call Ratio stands at 0.82. On the other hand, Bank nifty has support at 40900 levels while resistance is placed at 42200 levels. To combat the opening with gaps, it is advised that traders should work with option strategies.” – Om Mehra, Equity Research Analyst at Choice Broking.

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May 2, 2023
Gold Languishes On Hawkish Fed Outlook, Strong Dollar And Weak Retail Demand

By Jigar Trivedi

Gold fell below $1,830 an ounce, sliding to its weakest levels in six weeks as stronger-than-expected US economic data and hawkish remarks from Fed officials weighed on the metal. Latest data showed that US producer prices increased 0.7% M-o-M in January, the most in seven months and higher than market forecasts of 0.4%, while weekly jobless claims unexpectedly fell. These reports came on the heels of robust retail sales data and a hotter-than-expected CPI reading, supporting the case for further monetary tightening. Meanwhile, Cleveland Fed President Loretta Mester said she sees a “compelling economic case” for another 50 basis point rate hikes, while St. Louis Fed President James Bullard said he would not rule out backing a half-percentage point increase at the Fed’s March meeting.

US 10-Year Treasury Yield Rises after PPI, Claims Data

The yield on the US 10-year Treasury note, seen as a proxy for global borrowing costs, was above 3.8%, a level not seen in more than a month, as investors adjust their portfolios for a higher terminal rate. The closely watched US CPI reading for January landed at 6.4%, the lowest since October 2021, still above economists’ forecast of 6.2%. Producer prices also came above forecasts while initial jobless claims surprised on the downside, which supports Fed’s view that the labour market remains tight and inflation elevated, opening the door to further rate hikes. Money markets have now priced at least two more 25 basis point rate hikes this year and see interest rates peaking at 5.2% by July.

US Producer Prices rise the most in 7 Months

Producer prices for final demand in the US increased 0.7% month-over-month in January of 2023, the most in seven months and higher than market forecasts of 0.4%. Goods prices jumped 1.2%, also the largest increase since rising 2.1% in June 2022, led by a 6.2% surge in gasoline cost.

The retail demand slips in the second largest consumer market

India’s January gold imports plunged 76% from a year earlier to a 32-month low on subdued demand after domestic prices rallied to record highs and as jewellers postponed purchases, hoping for a reduction in import duty. Lower imports by the world’s second-biggest bullion consumer could weigh on benchmark gold prices , but the fall may help in bringing down India’s trade deficit and support the ailing rupee.

Outlook

Monday is the holiday in the US on account for Washington’s Birthday. On Tuesday, a provisional number for manufacturing PMI of February will come out for the UK, the US, EU & Germany. The US will also release existing home sales for January on Tuesday. On Thursday UK will release GDP for Q4 and January’s CPI for Euro. Japan will observe holiday on Thursday. Lastly, on Friday, US will release Core PCE Price index for January. Hence from data point of view, the week will be an important one. Looking at the technical chart set up, $1,825-$1,830 an ounce is a crucial support point. We don’t deny possibility of a rebound from here but the technical tools are signaling further pain in the coming sessions. $1,800 – 1,780 an ounce is a good support. On flip side $1,845 – $1,870 is a resistance. MCX Gold April has a good support near Rs. 55,000 per 10 gram and we recommend to short on every bounce.

(Jigar Trivedi, Senior Research Analyst – Currencies & Commodities, Reliance Securities. Views are author’s own. Please consult your financial advisor before investing.)

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May 2, 2023
Khetri Rajasthan Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

As anticipation mounts for the upcoming Khetri Constituency Election in Rajasthan, voters are eagerly awaiting the big battle that kicks off with the announcement of key dates by the Election Commission of India. Here, we provide you with essential details about the Khetri Constituency Assembly Election 2023 that every voter should be aware of.

Khetri Constituency Rajasthan Assembly Election 2023: Voting Date

The voting date for the Khetri Assembly Constituency Election 2023 has been officially announced by the Election Commission. As per the ECI, Khetri Assembly Constituency will go to polls on November 25. Stay tuned for updates as we bring you the latest information.

Khetri Rajasthan Election 2023: Candidates

Watch this space as prominent political parties, including the Indian National Congress (INC)Bharatiya Janata Party (BJP)and Bahujan Samaj Party(BSP) along with others, are poised to reveal their candidates for the Khetri Assembly Constituency Election 2023 post the official declaration of voting dates by the Election Commission of India.

Stay informed as we bring you the latest updates on the Khetri Assembly Constituency Election 2023, keeping you abreast of all the developments and insights that matter to you.

Khetri Constituency RJ Election Result: What happened in 2018

Jitendra Singh from Khetri of Rajasthan, won the seat with 57153 votes. He defeated Bharatiya Janata Party’ Dharmpal who had polled 56196 votes. The winning margin was 957 votes.

2018 Khetri Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesJitendra SinghIndian National Congress57153

Candidate List Party Name Votes Gained (Vote %) Jitendra Singh Indian National Congress 57153 (37.32%) Dharmpal Bharatiya Janata Party 56196 (36.7%) Pooranmal Saini Bahujan Samaj Party 35166 (22.96%) None Of The Above None Of The Above 1373 (0.9%) Amar Singh Rashtriya Loktantrik Party 1314 (0.86%) Rishal Singh Independent 610 (0.4%) Rajesh Independent 507 (0.33%) Tarachand Bharat Vahini Party 178 (0.12%) Bajrang Independent 171 (0.11%) Umrao Singh Kadyan Aam Aadmi Party 165 (0.11%) Priyanka Abhinav Rajasthan Party 154 (0.1%) Ramswroop Bharatiya Yuva Shakti 149 (0.1%)

Khetri Constituency RJ Election Result: What happened in 2013

In the Rajasthan Assembly election of 2013, Pooranmal Saini won from the Khetri seat garnering 42432 votes and defeated Indian National Congress candidate Jitendra Singh who bagged 34582 votes. The candidate who came third was Bharatiya Janata Party’ Dataram.

Pooranmal Saini got 42432 votes while Jitendra Singh got 34582 votes.

2013 Khetri Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesPooranmal SainiBahujan Samaj Party42432

Candidate List Party Name Votes Gained (Vote %) Pooranmal Saini Bahujan Samaj Party 42432 (32.3%) Jitendra Singh Indian National Congress 34582 (26.32%) Dataram Bharatiya Janata Party 25227 (19.2%) Dharampal Independent 20253 (15.42%) Ranveer Singh Gudha Lok Jan Shakti Party 3940 (3%) None Of The Above None Of The Above 1332 (1.01%) Pradeep Singh Jago Party 812 (0.62%) Rajpal Independent 741 (0.56%) Surendra Jammu & Kashmir National Panthers Party 610 (0.46%) Saytanarayan Independent 470 (0.36%) Narpat Singh Independent 406 (0.31%) Vishwambhar Dayal Singh National People’s Party 304 (0.23%) Ram Awatar Bharatiya Yuva Shakti 271 (0.21%)

Khetri Constituency RJ Election Result: What happened in 2008

Jitendra Singh of the INC was the winning candidate from the Khetri constituency in the RJ Assembly elections 2008, securing 33639 votes while 22572 votes were polled in favour of Dharmpal of the BJP. The margin of victory was 11067 votes.

2008 Khetri Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesJitendra SinghINC33639

Candidate List Party Name Votes Gained (Vote %) Jitendra Singh INC 33639 (33.8%) Dharmpal BJP 22572 (22.68%) Puran BSP 16554 (16.63%) Data Ram IND 8475 (8.51%) Ramavatar IND 6148 (6.18%) Bhagirath Singh IND 5580 (5.61%) Gayatri NCP 1464 (1.47%) Birdu Ram CPI 1440 (1.45%) Satyanarayan IND 1027 (1.03%) Vidhyadhar IND 685 (0.69%) Mukendra Singh SP 650 (0.65%) Narapat Singh IND 302 (0.3%) Beer Singh IND 293 (0.29%) Jale Singh IND 289 (0.29%) Mahipal LJP 238 (0.24%) Om Prakash IND 181 (0.18%)

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May 1, 2023
LIC IPO valuation: Overvalued or reasonably valued? Possibility of stock listing at discount low | INTERVIEW

The much-awaited Life Insurance Corporation of India (LIC) IPO (initial public offering) is set to open next week. Even as LIC issue size is trimmed down to 3.5% of equity, from 5% planned earlier; it will still be the largest ever to hit Dalal Street. The insurance company is valued at just over Rs 6 lakh crore. Sandip Sabharwal, investment advisor, in an interview with Surbhi Jain of Financial Express Online, said that LIC IPO looks reasonably valued in the context of its size and dominance of the insurance market. Sabharwal added that this insurance behemoth will keep on losing market share, going forward, and may not be a preferred company among the young, which could impact longer term valuations. Here are edited excerpts from the interview.

1. LIC IPO at Rs 6 lakh crore valuation, is it overvalued, undervalued or reasonably valued?

2. Do you think this is the right time to bring out the LIC IPO?

The size of the IPO now is nearly one third of what was originally talked off. As such, subscription should not be an issue. The only challenge for people who subscribe now is that there will most certainly be a follow-on offering sometime over the next one year which could be of a bigger size and impact stock performance.

3. LIC IPO commands a valuation of 202 times its earnings against average PE of the life insurance industry at 80. You think this high valuation should concern retail investors?

PE is not the right barometer to evaluate life insurance companies, but the other valuation parameters are reasonably valued.

4. Is LIC IPO worth buying amid current market scenario or should investors wait for listing day?

I think it’s fine to subscribe. The possibility of listing at a discount is low at this stage.

The stock recommendations in this story is by the respective research analyst. Financial Express Online does not bear any responsibility for his investment advice. Capital markets investments are subject to rules and regulations. Please consult your investment advisor before investing.

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