STOCK NEWS AND FINANCIAL UPDATES

People are receiving false calls/messages asking for account details for updating KYC: RBI. Suspicious activity can be reported to the National Cyber Crime Reporting Portal.

Redemption date for Sovereign Gold Bond (SGB) 2016-1 (issued in 2016) has been set as 8 Feb, 2024. Redemption price: Rs 6,271 per unit (101% more than the issue price).

The Indian government is expected to receive $1.8 billion in dividends from state banks in Financial Year 2025, up 8.7% compared to FY24 (based on estimates): Vivek Joshi, India's financial services secretary.

Stocks in News

• HDFC Bank: got approval from RBI to acquire aggregate holding of up to 9.50% in 6 banks including Yes Bank, IndusInd Bank, and ICICI Bank.

• L&T: bagged a large order to construct a bridge across the Brahmaputra river in Assam.

• Zee Entertainment: NCLT has agreed to hear the petition for the recently terminated merger with Sony Group's Indian subsidiary.

• LIC: launched a new individual life insurance plan called Index Plus.

• Indian Oil: expects a 4.5-5% rise in its gasoline sales for Financial Year 2025.

• SpiceJet: going to start flights connecting Jabalpur with Delhi and Mumbai from March.

• JK Tyre: declared an interim dividend of Rs 1 per share.

IPO Corner

Subscription

Apeejay Surrendra Park Hotels

Subscribed 5.82 times. Retail subscription: 13.14 times. Open till 7 Feb.

Upcoming

Following IPOs will open on 7th Feb:

Capital Small Finance Bank

Price band: Rs 445 to Rs 468. Issue size: Rs 523 cr.

Jana Small Finance Bank

Price band: Rs 393 to Rs 414. Issue size: Rs 570 cr.

Rashi Peripherals

Price band: Rs 295 to Rs 311. Issue size: Rs 600 cr.

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BLS E-Services: 125.93%.

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Stock Market Crash: Why was there an uproar in the stock market? These are 5 big reasons

Stock Market Crash: Indian stock markets suddenly crashed on Wednesday 20th December. Sensex took a dive of 930 points. Nifty closed with a loss of 300 points. The fall was so sharp that investors lost Rs 9.32 lakh crore in a day. Experts say that there is not just one reason behind this decline, but many reasons. Stock Market Crash: Indian stock market on Wednesday 20 December Suddenly he collapsed. Sensex took a dive of 930 points. Nifty closed with a loss of 300 points. The fall was so sharp that investors lost Rs 9.32 lakh crore in a day. Experts say that there is not just one reason behind this decline, but many reasons. This ranges from profit booking, increase in Covid cases in some parts of the country, rise in crude prices, FII's. 1. Profit booking A major reason behind Wednesday's fall in the stock market was profit-booking. The market was touching new peaks every day for the last few days. In such a situation, market observers were expecting a good profit boo...

BIG BULL RAKESH JHUNIJHUNWALA TRIMS STAKE IN TOP 10 STOCKS, ADDS ONE NAME TO PORTFOLIO: FIND OUT DEATAILS

the recent rally in metals, real estate and media stocks had led to some overvaluation, feel experts. sectors like metals might remain under pressure for the near term due to global constrains . Renowned investor and ‘big bull' Rakesh Jhunjhunwala churned in his stock portfolio during the quarter ended June 2022, and partially or completely exited from 10 stocks, while adding one name. The ace investor marked a re-entry into a stock he had exited during January – March period, as he bought 1.4 per cent stake in farm equipment / industrial auto major, Escorts Kubota Ltd. At the end of December 2021, Jhunjhunwala's holding was at 5.4 per cent of total shareholding of the company. Now, the total value of his stake in the company stands at ~Rs 300 crore. With the correction in metals and crude prices, experts believe that the demand for farm equipment should rise, with a good monsoon boosting tractor sales. “India has so far received good rainfall this time and demand pickup was s...

Dalal Street week ahead 10 key factors that will keep traders busy

After recent corrections from record high levels, the market is expected to be largely volatile and rangebound in the coming week, with focus mostly on global cues given the lack of domestic triggers, experts said.... Selling pressure sustained with bears tightening their grip over Dalal Street in the week ended December 16. The hawkish tone with hints of more rate hikes to control inflation by Federal Reserve after 50 bps hike in interest rates in December policy meeting, and growing recession fears in developed nations weighed on the market sentiment. After recent correction from record high levels, the market is largely expected to be volatile and rangebound in the coming week, with focus mostly on global cues given the lack of domestic triggers, experts said. Most of sectors slipped into the red with maximum pressure in FMCG, technology, and MNC, while Bank Nifty also fell nearly a percent for the week largely on profit booking after crossing 44,000 mark du...

INVESTING UPDATE 24

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