Many top companies including M&M, Coal India, Eicher Motors, and BHEL are set to release their quarterly reports this week. This includes a variety of industries such as finance, auto, and pharmaceuticals. Investors will be paying attention to see how these companies have performed in the last quarter.
Open FlipThe S&P's 500 Index finished this past week with a big flourish, closing above 5,000 for the first time. Bulls are ecstatic, seeing an economy coping with high interest rates that the Federal Reserve seems likely to cut some time this year. Ed Yardeni of Yardeni Research has been among the most bullish of the bulls, calling for the S&P 500 to reach 5,400 this year and 6,000 in 2025.
Open FlipJeff Bezos filed a statement with federal regulators indicating his sale of nearly 12 million shares of Amazon stock worth more than $2 billion. The Amazon executive chairman notified the U.S. SEC of the sale of 11,997,698 shares of common stock on Feb. 7 and Feb. 8. The collective value of the shares of Amazon, which is based in Seattle was more than $2.04 billion, per the listed price totals.
Open FlipTech stocks are soaring, leading to fears of another dot-com crash. However, experts say the current hype is not the same as the 1999 bubble, due to key differences such as the profitability of mega-cap tech firms and a different financial environment. Tech companies today are more solid and valued on their growth potential rather than just promises.
Open FlipONGC reported a consolidated net profit of Rs 10,748 crore in the December quarter with a 2.2% decrease in revenue from operations. The company announced a dividend of Rs 4 per share for eligible shareholders by March 10. This marks a dip from the previous year's revenue of Rs 1,69,213 crore. This is an ongoing story.
Open FlipECB's inflation and growth outlook for March will determine when interest rates will be cut, as stated by Governing Council member Pablo Hernandez de Cos. The projections will also play a crucial role in achieving the bank's 2% target and setting a compatible rate path. ECB officials are considering a loosening of monetary policy in summer based on an update of their medium-term inflation outlook.
Open FlipCBIC warns against fake GST summons, asks taxpayers to verify communication. DGGI has noticed individuals creating fraudulent summons with DIN numbers. DGGI taking action and advising taxpayers to report suspicious summons. Taxpayers can verify communication using 'VERIFY CBIC-DIN' window or DIN Utility Search. Report suspicious summons to DGGI/CBIC office for necessary action.
Open FlipIndian equity markets closed lower for the week ended February 10 amidst high volatility as hopes of early rate cuts by the US Fed and RBI diminished. Analysts expect markets to remain volatile in the coming week with focus on Q3 FY24 earnings, January inflation numbers in India and the US. Nifty fell 0.32% to close at 21,782.5 while BSE Sensex dropped 0.67% to finish at 71,595.49.
Open FlipCorporate debt investors should focus on mid-rated bonds, especially 'A' rated ones, as these companies have improved their debt protection metrics. This perception may be due to higher volatility and default risk, but recent studies have shown that mid-rated issuers have strong financials. This presents a win-win opportunity for both investors and issuers.
Open FlipFinancial planning is necessary for a stable retirement, and tax planning is a key component. Senior citizens can lower their taxes by investing in tax-saving fixed deposits, public provident fund, tax-free bonds, and equity linked savings schemes. These options provide tax benefits and secure returns to help seniors save up to Rs 1.5 lakh annually. It is important for seniors to research.
Open FlipGensol Engineering has seen a massive 5200% increase in its stock price since listing, making it a highly profitable investment. The company has successfully installed over 600 MW of solar power plants and expanded into the electric vehicle market. Technical analysis shows potential for the stock to continue rising, but investors should be cautious of overbought levels and consider buying.
Open FlipJeff Bezos sold 12 million shares of Amazon, worth $2 billion, this week. He may sell up to 50 million shares over the next year, taking advantage of the company's soaring stock prices and bringing his net worth to nearly $200 billion. He has sold over $30 billion in shares since 2002, mostly through gifting.
Open FlipUS natural gas prices have fallen by 24% this year due to a combination of factors, including short selling, decreased buying interest, and expectations of increased output. This decline has been ongoing since last year, influenced by supply and demand dynamics and adverse weather conditions. However, there is potential for market volatility this year due to geopolitical risks and concerns.
Open FlipBandhan Bank may see outflows while Canara Bank is expected to gain inflows worth $73 million as a result of the Nifty Bank index rejig, which will take place in March. Canara Bank's stock split and strong performance could help maintain its position in the index, while Shriram Finance and UPL are likely to be replaced in the Nifty 50 index. Other banking giants HDFC Bank and ICICI Bank.
Open FlipBritish homebuilder Bellway Plc has seen improved booking rates in recent weeks due to cuts in home-loan rates, but remains cautious about future risks to customer demand and cost inflation. The housing market has shown signs of recovery, with increased mortgage approvals and rising house prices. Bellway is confident in its plans to open 40 new sites in the second half of the year.
Open Flip