Mortgage and refinance rates today, October 29, 2024
Tue, Oct 29, 2024 6:31 PM

Mortgage and refinance rates today, October 29, 2024

Most mortgage rates have inched up again today. According to Zillow, the average 30-year fixed mortgage rate has increased by six basis points to 6.47%, and the 15-year fixed rate is up seven basis points to 5.82%. Are you trying to decide whether rates are low enough to buy a house? It's a good question — after all, mortgage rates are much lower than a year ago.

Open Flip
Finance Heavyweights Don’t Think Fed Will Cut Twice This Year
Tue, Oct 29, 2024 6:31 PM

Finance Heavyweights Don’t Think Fed Will Cut Twice This Year

Some of the world’s biggest names in finance, gathered at Saudi Arabia’s Future Investment Initiative, seemed to suggest market bets for Federal Reserve interest-rate cuts might be overdone. In September, the Federal Open Market Committee voted 11 to 1 to lower the federal funds rate to a range of 4.75% to 5%, after holding it for more than a year at its highest level in two decades.

Open Flip
These 2 ‘Strong Buy’ Penny Stocks Could Rally Over 500%, Say Analysts
Tue, Oct 29, 2024 6:28 PM

These 2 ‘Strong Buy’ Penny Stocks Could Rally Over 500%, Say Analysts

In his iconic song The Gambler, Kenny Rogers famously sang, “Every hand’s a winner, and every hand’s a loser.” Two penny stocks, Regulus Therapeutics (RGLS) and Ventyx Biosciences (VTYX), have received bullish support from analysts, offering high-reward opportunities with over 500% potential gains in the coming months.

Open Flip
A week before US vote, Yellen revives arguments on strong economy
Tue, Oct 29, 2024 6:27 PM

A week before US vote, Yellen revives arguments on strong economy

US Treasury Secretary Janet Yellen argues that Americans are better off than they were when President Joe Biden took office, citing robust economic growth, low unemployment, and falling inflation, despite voters' concerns over high prices. Yellen highlights the administration's investments in clean energy, infrastructure, and semiconductors.

Open Flip
Is Microsoft (NASDAQ:MSFT) Leading in the AI Arms Race?
Tue, Oct 29, 2024 6:26 PM

Is Microsoft (NASDAQ:MSFT) Leading in the AI Arms Race?

Microsoft (MSFT) is at the forefront of the AI arms race, boasting an exceptional business model that consistently generates substantial and growing free cash flow. With the company’s current valuation appearing fair, now may be an opportune time to buy its shares. I have a 12-month price target of $482.40, while the average Wall Street price target is $503.27.

Open Flip
Fed's rate cut revives small business optimism and plans to borrow
Tue, Oct 29, 2024 6:25 PM

Fed's rate cut revives small business optimism and plans to borrow

This past summer, leads for Brian Brown's landscaping business near Lake Tahoe were drying up. “We’d put together bids, call clients, and they were like, 'well, we’re going to think about it,'" said Brown, whose typical customer owns luxury property in the California resort area. "Most of our clientele are not the kind of people that ‘think about it.'"

Open Flip
Buy Torrent Pharmaceuticals; target of Rs 4232: Sharekhan
Tue, Oct 29, 2024 6:01 PM

Buy Torrent Pharmaceuticals; target of Rs 4232: Sharekhan

Sharekhan's research report on Torrent Pharmaceuticals: Torrent’s revenue reached Rs. 2,889 crore, reflecting a 9% y-o-y increase and a 1% q-o-q rise, driven by growth in key geographies. EBITDA stood at Rs. 939 crore, up 14% y-o-y and 4% q-o-q. Margins reached 33%, up 149 bps y-o-y and 88 bps q-o-q.Insulin revenue during the quarter was affected by a scheduled maintenance shutdown in August.

Open Flip
Buy Transport Corporation of India; target of Rs 1400: Sharekhan
Tue, Oct 29, 2024 6:00 PM

Buy Transport Corporation of India; target of Rs 1400: Sharekhan

Sharekhan's research report on Transport Corporation of India: TCI reported marginally higher-than-expected consolidated revenue, led by strong growth in Seaways and sustained growth in SCM and JVs. OPM stayed in-line, while net profit beat estimates. Management has retained its overall topline and bottom-line growth guidance of 10-15% y-o-y for FY2025.

Open Flip
India to slap penalties on GE over delay in Tejas LCA engines
Tue, Oct 29, 2024 5:59 PM

India to slap penalties on GE over delay in Tejas LCA engines

The Indian government will impose penalties on General Electric Co. for severe delays in the delivery of jet engines that power the country’s light-combat aircraft, according to an Indian official with knowledge of the matter. Delivery of the F404 engines for Indian Air Force’s locally-made Tejas Light Combat Aircraft Mk1 series was pushed back to March 2025, the official said, anonymously.

Open Flip
Buy V2 Retail; target of Rs 1445: Sharekhan
Tue, Oct 29, 2024 5:58 PM

Buy V2 Retail; target of Rs 1445: Sharekhan

V2 Retail's Q2FY2025 results were mixed, with 64% revenue growth but lagging EBIDTA margins at 8.7%. Same-store-sales-growth was 34%, driven by a strong festive and winter season, with the company targeting 60 store openings in FY2025. The stock trades at 20x FY25E EV/EBIDTA, and Sharekhan maintains a Positive outlook with a price target of Rs. 1,445.

Open Flip
SBI Card Q2 results: Net profit declines 33%, total revenue 8% up
Tue, Oct 29, 2024 5:28 PM

SBI Card Q2 results: Net profit declines 33%, total revenue 8% up

SBI Card posted a net profit of ₹404.42 crore in Q2 FY25, marking a significant 32.9% decline from ₹602.98 crore in the same quarter last year. Despite the profit dip, the company saw an 8.2% year-on-year (YoY) rise in total revenue, reaching ₹4,421 crore, up from ₹4,087 crore a year ago. The company’s cost-to-income ratio stood at 53.4%, down by 375 basis points (bps) YoY.

Open Flip
Voltas Q2 Net Profit Jumps 265% To ₹134 Cr, Beats Estimates
Tue, Oct 29, 2024 5:27 PM

Voltas Q2 Net Profit Jumps 265% To ₹134 Cr, Beats Estimates

Voltas reported its earnings for the quarter ended September just after market close on Tuesday. What Happened: The consumer durables company’s net profit for the quarter under review stood at ₹134 crore, a 265% increase from the ₹36.7 crore posted in the same quarter last year. The company's revenue from operations went up 14.3% year-on-year, to ₹2,619 crore.

Open Flip
Suzlon plans to add 1.5 GW turbine-manufacturing capacity by end of FY25
Tue, Oct 29, 2024 5:23 PM

Suzlon plans to add 1.5 GW turbine-manufacturing capacity by end of FY25

Wind turbine manufacturer Suzlon Energy Ltd has earmarked capital expenditure (capex) of Rs 300 crore for financial year (FY) 2025 in a bid to enhance capacity amid growing demand for renewable power in India, the company's Chief Financial Officer (CFO), Himanshu Mody, told Moneycontrol in an interview. The wind energy player has a total capacity of 3.1 gigs watts (GW).

Open Flip
Tata Power Q2 Preview: Firm likely to post 11% rise in revenue
Tue, Oct 29, 2024 5:21 PM

Tata Power Q2 Preview: Firm likely to post 11% rise in revenue

Tata Power, which will announce its Q2FY25 earnings on October 30, is expected to report a 11 percent increase in revenue year-on-year (YoY) at Rs 17,522 crore in the July-to-September quarter. The power company is also estimated to report an EBITDA margin of around 19.2 percent, marginally down from 19.6 percent in the corresponding quarter of the previous fiscal.

Open Flip
Top Gainers and Losers today on 29 October, 2024
Tue, Oct 29, 2024 5:20 PM

Top Gainers and Losers today on 29 October, 2024

📌The top gainers within the Nifty index included SBI (up 5.13%), Bharat Electronics (up 5.04%), Eicher Motors (up 3.76%), SBI Life Insurance Company (up 3.45%), and HDFC Life Insurance Company (up 3.36%). 📌Conversely, the top losers were Tata Motors (down 4.06%), Maruti Suzuki India (down 3.81%), Hero Motocorp (down 2.85%), Dr. Reddy's Laboratories (down 2.81%), and Cipla (down 1.70%).

Open Flip

Join our Smart Investment Community

More than 2 Million users are using FlipItMoney to stay updated about the business and finance world! Join FlipItMoney now and take smart investment decisions!
Icon