Newsletter | Hyundai Motors India GMP surges; Rajiv Bajaj maintains his ₹20,000 share TP for Bajaj Auto & more
Hyundai Motors India GMP surges ahead of listing but analysts see lacklustre Street debut
In a major turnaround, shares of Hyundai Motors India Ltd. are trading with a grey market premium (GMP) of 4%, up from an earlier dip. This rise in GMP indicates that investor sentiment around the company’s IPO has improved, suggesting a potential positive market debut.
According to the latest GMP, the shares of Hyundai Motors India are trading at ₹2,035 in the unlisted market, reflecting a 3.83% premium over the IPO price of ₹1,960. If the current trends are sustained, the stock is expected to debut with gains when it lists on the exchanges on Tuesday, October 22.
HDFC Bank has a big gap to bridge with its peers, say analysts
India’s largest private lender HDFC Bank Ltd. reported results on Saturday and will be reacting to those earnings in Monday’s trading session.
For the September quarter, the lender’s Net Interest Income (NII) increased by 10% from last year to ₹30,114.9 crore, while its net profit increased by 5.3% from last year to ₹16,821 crore.This is also the first quarter that the lender reported after the merger with HDFC, that was be comparable on a year-on-year basis.Asset quality remained stable with Gross NPA at 1.36% from 1.33% last quarter, while its Net NPA stood at 0.41% from 0.39% last quarter.
Rajiv Bajaj sticks to his long-term share price target of ₹20,000 for Bajaj Auto
Bajaj Auto rallied more than 7% to the day’s high on October 21 as the two-wheeler maker’s Managing Director Rajiv Bajaj spoke exclusively to CNBC-TV18 about plans to go all out with production in October and November, and the muted festive demand outlook.
Even as few brokerages downgraded their ratings and target price on the auto stock after Q2 results last week, Bajaj’s confidence for the long-term remains undeterred.“I stand by my projection of ₹20,000 share price in the long-term,” he said in an exclusive interview, adding that he’s weighing buying some stock as he sees nice upside in the weeks to come.
Maharashtra Election Live 2024: MVA to finalise seat sharing today
The Bharatiya Janata Party (BJP), on October 20 released its first list of 99
candidates for the upcoming Maharashtra assembly elections.Deputy Chief Minister Devendra Fadnavis will contest from Nagpur South West, his stronghold. Maharashtra BJP president Chandrashekhar Bawankule will run from Kamthi, while Shrijaya Chavan, daughter of BJP leader Ashok Chavan, has been nominated for Bhokar.
With the Maha Vikas Aghadi (MVA) facing a deadlock over seat-sharing for the Maharashtra assembly elections, Congress and Shiv Sena (UBT) leaders met with NCP (SP) chief Sharad Pawar for discussions.
#TechTalks????
Cyberattacks are inevitable, so use AI in your defence, says Rubrik co-founder
In today’s fast-paced tech landscape, AI presents a monumental opportunity for economic transformation. Bipul Sinha, Chairman & Co-Founder of Rubrik, says AI is more than a trend; it has the potential to revolutionise industries, especially in countries like India. “India could leapfrog directly from an industrial era to a service economy and eventually into an AI economy,” he stated.While this transition may bring upheaval, it also opens doors for success. Embracing AI-driven disruption could be pivotal for India in enhancing its global economic standing.
Big Tech earnings to watch out for — Top stocks to tingle your taste buds
Tesla will report earnings on October 23, with analysts expecting revenue to rise to $25.41 billion but profit to fall to $1.68 billion. The recent robotaxi unveiling disappointed some, leading to mixed stock ratings. The stock itself barely reacted after the October 10 cybercab event — it opened the week at $220.72 and reached a high of $222.28 before settling at $219.23. Analysts remain cautious, with some maintaining an “outperform” rating, while JPMorgan expressed concerns over the lack of details about the robotaxi plans.
#PersonalFinance????
Festive season savings: How credit cards and loyalty programs can enhance your travel experiences
As the festive season is here, travelers must be looking for ways to enrich their celebrations and create memories. However, tight budgets can sometimes make this challenging. Financial experts suggest that with the right combination of credit cards and loyalty programs, it’s possible to enhance your travel experiences while enjoying significant savings.
The power of credit cards
Credit cards offer an array of advantages for travelers, especially during busy seasons.Many cards come with reward points, cashback, and discounts that can be redeemed for travel expenses, hotel stays, and dining.
Mutual fund tips for senior citizens: A look at schemes to invest in
Senior citizens often face challenges when it comes to managing their investments. The need for steady returns, liquidity, and tax efficiency can make choosing the right mutual fund difficult. However, there are several options available for retirees that meet these criteria. According to Girish Kumar, Research Analyst at Share India Securities, Equity Linked Savings Schemes (ELSS) funds are attractive for senior citizens because they invest at least 80% of their assets in equities, which means there’s significant growth potential.”Senior citizens can also claim a tax deduction of up to ₹1.5 lakh per year,” Kumar noted.However, he added a note of caution: the mandatory three-year lock-in period can limit liquidity, which might be a concern for those needing quick access to funds.
#StartupsWorld????
Zomato and Zepto will raise more money, TSMC raises guidance in today’s startup news digest
From big fundraising plans from Zomato and Zepto to management change at Uber and other exciting news from the world of tech startups. Quick commerce startup Zepto is likely to raise another $100 million in a fresh funding round led by the Motilal Oswal Group. According to sources, the asset management company has committed $40 million while taking up the mandate to mobilise $60 million from domestic family offices and high-net-worth individuals.
#ExpertEdge????
Why notaries cannot register marriages
Notaries are advocates who are expected to be well-versed in the law; however, they cannot arrogate to themselves the power of marriage registration, which is conferred exclusively on sub-registrars appointed by state governments. This recent verdict from the Orissa High Court dispels the notion that notaries can operate freely and that their imprimatur on documents grants those documents legitimacy. The Notaries Act clearly delineates the functions they are authorized to perform. Beyond these tightly defined roles, they cannot undertake any additional responsibilities.
#podcasts????️
Do Green Jobs Pay Well? Exploring Demand & Future Opportunities With TATA Power’s Himal Tewari
