RPP Infra Projects: The company has received a letter of acceptance for road and drain works-1 for CBR project of CPCL at Nagapattinam, Tamilnadu at a contract price of Rs 300.44 crore. Further, the contract worth Rs 90.18 crore for provision of civil works and allied services for engine test facility along with ancillary work for GRTE at Rajankute, Bengaluru. It also received contract worth Rs 16.88 crore for construction of stormwater drain from Thoothukudi city Municipal corporation, Tamilnadu.
Tuesday, 26 September 2023
Ujjivan Small Finance Bank: NEWS/UPDATES
Ujjivan Small Finance Bank: SMC Global Securities announced a strategic partnership with Ujjivan Small Finance Bank to offer online trading services to the bank’s customers. This association will offer services comprising savings, demat and trading accounts, to the bank's customers. The collaboration will enable SMC Global to expand its client base by tapping into Ujjivan SFB’s extensive pan-India presence, serving over 76 lakh customers.
KM Sugar Mills: NEWS/UPDATES
KM Sugar Mills: Shareholders have approved the reappointment of L K Jhunjhunwala as Chairman, Aditya Jhunjhunwala as Managing Director, Sanjay Jhunjhunwala as Joint Managing Director, and SC Agarwal as Executive Director of the sugar firm, with effect from April 1, 2024 for three years.
GR Infraprojects NEWS/UPDATES
GR Infraprojects: The bids for 2 ropeway projects won by GR Infraprojects are annulled by National Highways Logistics Management. In February 2023, GR Infraprojects was emerged as L1 bidder for development, operation and maintenance of ropeways contract worth Rs 3,613 crore in Uttarakhand on Hybrid Annuity Mode.
INDIA'S TOP 10 OLDEST MUTUAL FUND
1. UTI Mastershare
Inception date: 15-Oct-1986
The first equity-diversified fund of the Indian mutual fund industry, UTI Mastershare, was initially a closed-ended fund. It was later converted into an open-ended fund in 2003. The fund had a rich track record of paying dividends, bonus issues and rights issues. Currently, it is categorised under large-cap funds.2. SBI Magnum Equity ESG Fund
Inception date: 01-Jan-1991
Launched as Magnum Multiplier Scheme ‘90, the equity-oriented fund got its name changed to Magnum Equity Fund when it was converted as an open-ended fund in 1997. During the re-categorization exercise in 2018, the fund house changed the fund’s attribute and the name to SBI Magnum Equity ESG Fund.
3. LIC MF Aggressive Hybrid Fund
Inception date: 01-Jan-1991
Formerly known as LIC Balanced fund, LIC MF Aggressive Hybrid Fund has been managed with a balanced portfolio of equity and debt since inception. Currently, it is categorised under the Aggressive Hybrid Fund category.
4. UTI Flexi Cap Fund
Inception date: 18-May-1992
Launched as UTI Mastergain '91, the fund was later renamed UTI Equity in 2005, following which it was renamed again as UTI Flexi Cap Fund in 2021 when the market regulator introduced flexicap and multi-cap categories.
5. Canara Robeco Equity Hybrid Fund
Inception date: 01-Feb-1993
Formerly called GIC Balanced, Canara Robeco Equity Hybrid Fund has been one of the better-performing funds since its launch. Currently, it is part of the Aggressive Hybrid Fund category.
6. Tata Large & Mid Cap Fund
Inception date: 25-Feb-1993
It was launched as Ind Sagar and later renamed as Tata Large & Mid Cap Fund. As per the current strategy, it invests about 35 percent each in large and midcap stocks.
7. SBI Large & Midcap Fund
Inception date: 28-Feb-1993
Earlier known as SBI Magnum Multiplier Plus, SBI Large & Midcap Fund invests about 35 percent each in large and midcap stocks.
8. Canara Robeco Equity Tax Saver Fund
Inception date: 31-Mar-1993
Previously called Can Equity Taxsaver, Canara Robeco Equity Tax Saver Fund has been an above-average performer in most of the period since launched.
10. Franklin India Bluechip Fund
Inception date: 01-Dec-1993
The fund was launched as Kothari Pioneer Bluechip fund and renamed later as Franklin India Bluechip fund.
India’s oldest MF schemes
1. UTI Mastershare
Inception date: 15-Oct-1986
The first equity-diversified fund of the Indian mutual fund industry, UTI Mastershare, was initially a closed-ended fund. It was later converted into an open-ended fund in 2003. The fund had a rich track record of paying dividends, bonus issues and rights issues. Currently, it is categorised under large-cap funds.2. SBI Magnum Equity ESG Fund
Inception date: 01-Jan-1991
Launched as Magnum Multiplier Scheme ‘90, the equity-oriented fund got its name changed to Magnum Equity Fund when it was converted as an open-ended fund in 1997. During the re-categorization exercise in 2018, the fund house changed the fund’s attribute and the name to SBI Magnum Equity ESG Fund.
3. LIC MF Aggressive Hybrid Fund
Inception date: 01-Jan-1991
Formerly known as LIC Balanced fund, LIC MF Aggressive Hybrid Fund has been managed with a balanced portfolio of equity and debt since inception. Currently, it is categorised under the Aggressive Hybrid Fund category.
4. UTI Flexi Cap Fund
Inception date: 18-May-1992
Launched as UTI Mastergain '91, the fund was later renamed UTI Equity in 2005, following which it was renamed again as UTI Flexi Cap Fund in 2021 when the market regulator introduced flexicap and multi-cap categories.
5. Canara Robeco Equity Hybrid Fund
Inception date: 01-Feb-1993
Formerly called GIC Balanced, Canara Robeco Equity Hybrid Fund has been one of the better-performing funds since its launch. Currently, it is part of the Aggressive Hybrid Fund category.
6. Tata Large & Mid Cap Fund
Inception date: 25-Feb-1993
It was launched as Ind Sagar and later renamed as Tata Large & Mid Cap Fund. As per the current strategy, it invests about 35 percent each in large and midcap stocks.
7. SBI Large & Midcap Fund
Inception date: 28-Feb-1993
Earlier known as SBI Magnum Multiplier Plus, SBI Large & Midcap Fund invests about 35 percent each in large and midcap stocks.
8. Canara Robeco Equity Tax Saver Fund
Inception date: 31-Mar-1993
Previously called Can Equity Taxsaver, Canara Robeco Equity Tax Saver Fund has been an above-average performer in most of the period since launched.
10. Franklin India Bluechip Fund
Inception date: 01-Dec-1993
The fund was launched as Kothari Pioneer Bluechip fund and renamed later as Franklin India Bluechip fund.
11. Franklin India Prima Fund
Inception date: 01-Dec-1993
Formerly called Kothari Pioneer Prima Fund, Franklin India Prima Fund has been investing mainly in mid and smallcap companies. Currently, it is categorised as a midcap fund.
12. Taurus Flexi Cap Fund
Inception date: 29-Jan-1994
Formerly known as Taurus Starshare, Taurus Flexi Cap Fund is currently allocating to the stocks across market capitalisation and sectors.
13. HDFC Capital Builder Value Fund
Inception date: 01-Feb-1994
The fund was launched as Zurich India Capital Builder. Now it is categorised under value funds.
14. HDFC Large and Mid Cap Fund
Inception date: 18-Feb-1994
Earlier known as Morgan Stanley Growth Fund, it was a flagship fund of the Morgan Stanley mutual fund. Being close-ended, the funds were listed and traded in the various stock exchanges in India. It became an open-ended fund in 2009. It was later renamed as HDFC Large Cap Fund in 2014. Currently, it is categorised under the large and midcap fund categories.
15. Tata Mid Cap Growth Fund
Inception date: 01-July-1994
Earlier called Tata Ind Navratna Fund, Tata Mid Cap Growth Fund managed to deliver better returns since its launch.
Bajaj Finance's $1 billion fund raise plan
Bajaj Finance, which is said to be gearing up to raise as much as $1 billion, may be acquiring “growth capital ammunition” to deal with mounting competition, some analysts said, adding that they remain bullish on the stock.
For Jefferies, Bajaj Finance continues to be its pick among non-banking financial companies. Jefferies said in a note that “while it is well-capitalised with a tier-1 CAR (capital adequacy ratio) of 23 percent, this raise may be upfronting of capital to support strong AUM (assets under management) growth (32 percent in Q1) and is reasonably ahead of time.”
Assuming Bajaj Finance raises 10-15 percent of its net worth, the issue size may be around Rs 80 billion/$1bn, Jefferies analysts said. However, they added that this could dilute return on equity to about 22 percent from 23 percent, whereas FY24 earnings per share and book value per share may rise 6 percent and 11 percent, respectively.
The key risks to the valuation, the analysts said, would be a slowdown in growth, higher-than-expected net interest margin compression, or asset quality deterioration.
“Upside can arise from stronger-than-expected growth in consumer durables and rural financing business, and further improvement in operating efficiencies and reduction in cost ratio,” they added.
Monday, 25 September 2023
Stocks to buy today: Monday: 25th Sep: Stocks Recommodation
1] RVNL: Buy at 166.85, target 180, stop loss 158;
Intraday trading strategy for Monday
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that Dalal Street sentiments have further weakened after Nifty 50 index closed below 19,700 levels on Friday. Prabhudas Lilladher expert went on to add that Nifty today has now crucil support placed at 19,600 levels and on breaching this support, there can be more correction expected in the Indian stock market. On stocks to buy today, Vaishali Parekh recommended three intraday stocks for today and those three day trading stocks are RVNL, Bank of Baroda (BoB) and Schneider Electric.
Day trading guide for stock market today: Monday: 25th September
On outlook for Nifty 50 today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty continues to be weak. Having placed near the crucial lower supports, there is a possibility of minor upside bounce from near 19,550 levels by next week. The anticipated upside bounce could be short lived and the market is expected to reverse down from the lower highs. Immediate resistance for Nifty 50 index is placed around 19,800 to 19,850 levels."
STOCKS TO BUY/SELL TODAY 25th SEPTEMBER
1] Granules India: Buy at 336.80, target 365, stop loss 323.
2] Persistent Systems: Buy at 5850, target 6100, stop loss 5705.
3] State Bank of India or SBI: Buy at 598, target 610, stop loss 592.
4] ITC: Buy at 443, target 455, stop loss 435.
5] Quickheal: Buy at 244.75 to 243, target 270, stop loss 232.
Bank Nifty: September 25th
The selling pressure in Bank Nifty seems to have eased as the index fell 12 points to end at 44,612 on September 22.
Toady September 25th: Nifty 50
Nifty 50 witnessed consistent selling throughout the week, resulting in a decline of 2.80% from its all-time high.
What to expect from stock market indices in trade on September 25: Back Nifty 50, Sensex today
The Indian stock market indices, Nifty 50 and Sensex, are likely to open on a tepid note Monday following weak global cues.
The trends on Gift Nifty also indicate a flat-to-negative start for the Indian benchmark index. The Gift Nifty was trading around 19,694 level as compared to the Nifty 50 futures’ previous close of 19,705.
NSE plans to extend trading hours for derivatives segment
National Stock Exchange (NSE), is finalizing its plans to extend the equity derivatives trading hours in a phased manner, with an aim to offer an opportunity to domestic traders to react to global events, a report said.
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