Friday, January 10, 2025 | 10:21 PM ISTEN Hindi

Sensex ends volatile session with minor gains; Indiabulls Housing down 8.5%

All that happened in the markets today

SI Reporter New Delhi

8:26 AM

RBI fines HDFC Bank Rs 1 crore for non-compliance of KYC norms

The Reserve Bank of India (RBI) has fined HDFC Bank Rs 1 crore for non-compliance with the central bank’s norms on ‘know your customer (KYC)/anti-money laundering (AML)’ and ‘reporting of frauds’.

“This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers,” the RBI said in a statement on its website. READ MORE

8:21 AM

Sebi moves to curb sensitive information leak, seeks trading details

Individuals and entities circulating unpublished price sensitive information (UPSI) of listed firms over social media platforms have come under the regulator's glare. Sources said the Securities and Exchange Board of India (Sebi) had issued letters to over 50 individuals, including current and former employees of broking firms who had received and forwarded UPSI in the recent past. READ MORE

8:19 AM

We expect big-ticket resolutions by Sept: YES Bank CEO Ravneet Gill

In an interview to Dev Chatterjee and Abhijit Lele, Gill says the bank’s clean-up plan is on schedule and some of its big-ticket bad debt accounts will be sorted out by September, thus clearing an overhang on the bank. READ FULL INTERVIEW HERE

Ravneet Gill, MD & CEO of YES Bank

8:14 AM

Truckmakers unlikely to see demand revival as slowdown grips auto sector

The sharp dip in car sales is not news to R S Bhasin, managing director, Janta Roadways, who has had 130 out of his 200 trucks in Chennai lying idle owing to the severe contraction in the passenger vehicle market. His company draws the bulk of its business from transporting cars to dealerships. READ MORE

8:11 AM

Investor confidence at lowest level since global financial crisis: BofAML

Allocation to equity by global fund managers saw the second largest drop ever in June (largest happened in August 2011). The pessimism, according to the survey findings, was driven by concerns over trade war/recession, monetary policy impotence and low strike prices for policy puts.

Cash levels with global fund managers moved up to 5.6 per cent from 4.6 per cent, witnessing their biggest jump since 2011 US debt ceiling crisis. Overall, there was a preference for bonds, cash, staples, utilities and a huge rotation away from equities, banks, Eurozone and technology, BofAML says. READ MORE

8:09 AM

Pick of the Week | Kotak Securities

Dhanuka Agritech Ltd

Recommendation: BUY

Price: Rs 380

Target: Rs 435

Potential Upside 14.5%

Dhanuka Agritech’s 4QFY19 results were well ahead of our estimates, led by higher-than-expected improvement in margins. The management remained optimistic on its guidance of double-digit growth in revenues and improvement in margins in FY2020-21 assuming a normal monsoon and new product launches. A normal monsoon may encourage farmers to increase spends on crop protection.

8:06 AM

Sebi allows stock exchanges to introduce futures on commodity indices

The stock exchanges, willing to start trading in futures on commodity indices, are required to take prior approval for launching such contracts, Sebi said in a circular.

"Exchanges will have to submit at-least past 3 years data of the index constructed along with data on monthly volatility, roll over yield for the month and monthly return while seeking approval from Sebi," the circular added.

The regulator has already permitted commodity options in commodity derivative markets. READ MORE

8:04 AM

Deloitte ban to disrupt businesses and investment inflows: US to India

The United States has told India that any move to ban Deloitte and other big auditing firms would disrupt businesses and investment inflows into the country.

This was disclosed to Deloitte global CEO Punit Renjen by US ambassador Kenneth Juster last week, sources said.

The US government has also conveyed to India that multi-national corporations and foreign investors make their decision to invest globally on the advice and guidance from the Big Four networks, which also provide consultancy services, according to sources. READ FULL REPORT HERE

Deloitte global CEO Punit Renjen

8:02 AM

Foreign investors picking controlling stakes in companies on the rise

A few months ago, several Indian companies showed interest in two financial services companies owned by DHFL — Avanse and Aadhar Housing — which were up for sale. Yet when the time came to make a price bid supported by evidence of funds, all of them withdrew from the deals. READ MORE

8:01 AM

Market outlook and top two trading ideas by Prabhudas Lilladher

MARKET VIEW

After the huge fall a day before Nifty witnessed a choppy session and almost took support near the significant 50-day moving average (DMA) which lies near 11,680 levels but still needs a conviction for further upside movement. However, the support for the day is seen at 38,760/11,620 for Sensex and Nifty, respectively while resistance is seen at 39,330/11,750. Bank Nifty would have a range of 30,050-30,650. Watch for Cement and IT stocks which has been showing signs of a positive bias. READ MORE

8:00 AM

Top stock calls by Religare Broking: Buy Voltas, sell Lupin June futures

Voltas Limited

Recommendation: Buy

Last Close: Rs 600.40

Initiation range: Rs 596-600

Target: Rs 630

Stop loss: Rs 585

Voltas has retraced marginally of late, after swift rebound from the support zone of short-term moving averages on daily chart. The current chart pattern combined with favourable reading from the confirmation indicators is pointing towards steady rise in near future. We advise creating fresh longs within the given range. READ MORE

7:52 AM