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Equity markets ended the day in red today. Nifty 50 ended, down by 40.50 points. Sensex ended, down by 90.29 points. Top gainers today were Shree Cement, ONGC, Hindalco. Top Losers today were A...
Indian Oil Corporation Limited has informed that the Board of the Company at its meeting held on September 29, 2022 has accorded approval for formation of Wholly Owned Subsidiary (WOS) - F...
Apeejay Real Estate, the Real Estate arm of Kolkata-based Apeejay Surrendra Group, has funded Rs300 crore for its logistics and industrial parks sector via Non-Convertible Debentures (NCD). ...
The National Highways Authority of India (NHAI) infrastructure investment trust (InvIT) is looking to collect Rs2,000 crore from investors to purchase two to three road assets from its parent, ...
In intraday trade on Thursday, shares of Reliance Industries (RIL) plunged to Rs 2,315.55, a six-month low, after the company's stock price dropped 7% during the previous week. In contras...
Shree Cement Limited informed that CARE Ratings Limited has assigned a ‘CARE AAA’ rating to long-term bank facilities of the company worth Rs150 crore. It has given a Stable outlook on...
Adani Ports and Special Economic Zone Limited is an India-based integrated ports and logistics company. The Company is primarily engaged in developing, operating and maintaining the ports services, ports-related infrastructure development activities and development...
Net card additions in August 2022 were negative versus +1.53 million in July 2022; this was driven by a 1.52/1.05 million (8/11% MoM) decline for HDFC Bank/Axis Bank, respectively, due to closure of cards inactive for >1 year. IndusInd Bank/State Bank of India (SBI) added 2.6/2.0% of their opening cards in-force, respectively, followed by ICICI Bank/Kotak Mahindra Bank/RBK at 1.5/1.4/1.0%.
In their latest note, analysts at IIFL Securities deep dive on the performance of key large banks since the peak of the NPA cycle (FY18), and summarize their expectations going forward. They expect further re-rating for banks in general. They have maintained HDFC Bank, ICICI Bank and State Bank of India as their top ideas.
Analysis of passive funds, both FIIs and domestic MFs, shows that total passive AUM is up 17%, and within that, domestic passive MF AUM is up by 29% to US$53 billion. Leading up to Nifty inclusion, stocks significantly outperform, but this substantially reverses within 3 months of the event. Similarly, exclusion leads to underperformance. IIFL Securities has added Maruti to its list of large cap top picks.
The benchmark SG GRMs continue to remain volatile. Government has a challenge to balance contrasting factors - health of OMCs, attractive compensation for upstream without adversely affecting its own fiscal, and end-consumer prices. Cheap PSU valuations reflect such issues adequately, believe analysts at IIFL Securities.
IIFL is one of the leading player in the broking industry with more than a million accounts being opened since inception. The company provides execution, advisory, and research service across products like equity, F&O, Commodity & Currency, Mutual Funds. IIFL is also one of the top distributors of AIF, PMS and Mutual Funds.
Asst. Vice President,
AVP & Senior Financial Planner,
Founder & CEO,