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Share Market Warp Up Note as on 18 Jan,2023

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Topic :- Share Market Closing Note


Sensex ends 390 pts higher driven by HDFC twins, metals, Nifty above 18,150:


Equity markets extended gains to a second session on Wednesday supported by positive global peers and selected financial and metal stocks. 


The BSE Sensex dipped to a low of 60,569 during the day but firmed up to close 390 points higher at 61,046. The top winners that drove maximum gains on the index were Tata Steel, L&T, Wipro, HDFC twins and Bharti Airtel, which ended 1.6-2 per cent higher. 


The NSE Nifty ended 112 points higher at 18,165, led by Hindalco, which gained 3 per cent, while Tata Motors, Ultratech Cement, HDFC Life, Adani Enterprises and IndusInd Bank restrained gains on the index and dropped up to 1.6 per cent. 


The BSE Midcap and Smallcap indices ended with slimmer gains of 0.5 per cent and 0.2 per cent, respectively. Within sectors, the Nifty metal index closed with most strength, up 1.5 per cent, followed by financials and pharma pockets, while PSB index slumped the most by over 1 per cent. 


Among stocks, Adani Enterprises closed 1.5 per cent down. The company has filed papers for its Rs 20,000-cr FPO, which will remain open between Jan 27-31. As per the RHP, it will use Rs 10,900 crore of the total proceeds towards capex in airport and green businesses.


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Topic :- Time:3.15 PM


Just In:

Samsung Electronics spars with India over $110 mn production incentives


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Topic :- Time:3.00 PM


Nifty spot if holds above 18140 level on closing basis then expect some upmove in the market and if it closes below above mentioned level then some sluggish move can follow. Avoid open positions for tomorrow.


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Topic :- Time:2.30 PM


COPPER Trading View:

COPPER is trading at 781.65.It will face immediate resistance at 782. If it holds below 782 then it is likely to decline and if it manages to trade and sustain above 782 level then some quick upmove can be seen in it.


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Topic :- Time:2.20 PM


GoMechanic to reduce workforce by 70%, says co-founder Amit Bhasin


Car workshop and auto spare parts platform, GoMechanic is going to let go of approximately 70% of its workforce. This was announced by co-founder Amit Bhasin in a long LinkedIn post. GoMechanic, which offers everything from mechanics to carwashing services on an app, bills itself as having Indias largest auto service center network. With its funding round in jeopardy, the startup is now facing a cash crunch, the people said.


We made grave errors in judgment as we followed growth at all costs, particularly in regard to financial reporting, which we deeply regret, Bhasin said in a LinkedIn post on Wednesday, without sharing details. We take full responsibility for this current situation and unanimously have decided to restructure the business while we look for capital solutions. This restructuring is going to be painful and we will unfortunately need to let go of approximately 70% of the workforce. In addition, a third party firm will be conducting an audit of the business.


GoMechanic, the Gurugram-based company was founded in 2016 by four friends including Kushal Karwa and Amit Bhasin.


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Topic :- Time:2.00 PM


Nifty spot is trading at 18150.If it manages to trade and sustain above 18180 level then expect some upmove in it and if it breaks and trade below 18120 level then some decline can follow in the market.


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Topic :- Time:1.00 PM


Nifty spot is trading at 18158.If it manages to trade and sustain above 18180 level then expect some upmove in it and if it breaks and trade below 18140 level then some decline can follow in the market.


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Topic :- Time:12.30 PM


SILVER Trading View:

SILVER is trading at 69360. If it manages to trade and sustain above 69420 level then expect some upmove in it and if it breaks and trade below 69300 level then some decline can follow in it.


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Topic :- Time:12.00 PM


Nifty is zooming high. Nifty spot if manages to trade and sustain above 18180 level then expect some upmove and if it breaks and trade below 18140 level then some decline can be seen in the market.


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Topic :- Time:11.30 AM


News Wrap Up:

1. Sensex zooms 350 pts as Tata Steel, HDFC duo lend support

2. Apple gets a boost in India as Chinese suppliers get govt clearance

3. Amazon back as worlds most valued brand, Apple down to No 2: Brand Finance

4. OYO to refile updated draft IPO papers by mid February, as asked by Sebi

5. Social media firms bent rules to favour Trump, finds Jan 6 committee

6. ICICI Lombard slips 6% on disappointing Q3 results

7. From Paytm to Zomato, start-ups see fresh round of selling; stock falls

8. Sebi returns Lava Intls draft IPO papers; asks to refile with updates


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Topic :- Nifty Opening Note


Indian Stock Market Trading View For 18 Jan,2023:


Nifty is likely to turn volatile as the day progresses. Global cues to be eyed.


Nifty spot if manages to trade and sustain above 18080 level then expect some upmove in the market and if it breaks and trade below 18020 level then some decline can be observed in the market. 


Please note this is just opening view and should not be considered as the view for the whole day.


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Share Market Warp Up Note as on 13 Jan,2023

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Topic :- Share Market Closing Note


Benchmark indices ended higher in the volatile session on January 13 with around 17950.


At Close, the Sensex was up 303.15 points or 0.51% at 60,261.18, and the Nifty was up 98.40 points or 0.55% at 17,956.60. About 1944 shares have advanced, 1456 shares declined, and 137 shares are unchanged.


Adani Enterprises, Tata Steel, IndusInd Bank, Eicher Motors and Infosys were among the top gainers on the Nifty, while losers were Titan Company, Apollo Hospitals, Nestle India, Larsen & Toubro and ITC.


All the sectoral indices ended in the green with metal, power and PSU Bank indices up 1 percent each.


The BSE midcap and smallcap indices ended on flat note.


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Topic :- Time:3.10 PM


Nifty spot if manages to hold above 17900 level on closing basis then expect some further upmove in coming sessions and if it closes below above mentioned level then some sluggish movement can be seen in the Nifty. Avoid open positions for Monday.


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Topic :- Time:2.30 PM


NATURALGAS Trading View:

NG is trading at 302.70. If it holds above 303 level then expect it to rise till 306.50-307.50. Immediate resistance is at 310. If it holds below 310 level then expect it to decline till 290-285 levels quite soon.


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Topic :- Time:2.25 PM


Just In:

Nykaa declines 1.5% after 10 lakh more shares went on block deal today


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Topic :- Time:2.10 PM


Nifty spot if manages to trade and sustain above 18000 level then expect some further upmove in the market and if it breaks and trade below 17960 level then some decline can follow in the Nifty.


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Topic :- Time:1.30 PM


CRUDEOIL Trading View:

CRUDEOIL is trading at 6405.It will find its immediate resistance at 6455. If it holds below 6455 level then sell on every rise is recommended. Once it crosses 6455 it will turn bullish.


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Topic :- Time:1.00 PM


Nifty is showing great recovery now and is trading in green. Nifty spot if manages to trade and sustain above 17940 level then expect some quick upmove in coming session and if it breaks and trade below 17900 level then some decline can follow.


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Topic :- Time:12.30 PM


SILVER Trading View:

SILVER is trading at 68420.If it manages to trade and sustain above 68575 level then expect some upmove in it and if it remains below 68575 level then some decline can follow in it.


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Topic :- Time:12.10 PM


Nifty is still trading in negative zone after flat opening. Nifty spot if manages to trade and sustain above 17860 level then expect some upmove in the market and if it breaks and trade below 17800 level then some decline can be seen in the market.


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Topic :- Time:11.30 AM


News Wrap Up:

1. Tata Steel, Infy, TCS help trim losses; Sensex down 150 pts

2. Apple cuts Tim Cooks pay by more than 40% to $49 mn in 2023

3. Chinas exports slump 9.9% in December as global demand continues to drop

4. Godrej Properties buys 60-acre land in Chennai for housing proj

5. Infosys Q3 result: IT majors revenue grows 20% YoY to Rs 38,318 cr

6. Rail Vikas gains 13% in 3 days on securing orders worth of Rs 1,173 crore

7. L&T Technology Services dips 5% on plans to buy SWC biz from parent L&T

8. HDFC Bank Q3: PAT may grow up to 20% YoY; margin, asset quality seen steady


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Topic :- Stocks Under Ban in F&O


1. Indiabulls Housing Finance

2. GNFC


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Topic :- Stocks in the news




Infosys: The IT services company clocked 9.4 percent QoQ growth in profit at Rs 6,586 crore and revenue grew by 4.9 percent to Rs 38,318 crore, beating analysts expectations. Revenue in dollar terms increased 2.3 percent QoQ to $4,659 million and constant currency revenue growth at 2.4 percent QoQ for Q3FY23. The company raised its FY23 revenue growth guidance, in constant currency terms, to 16-16.5 percent, from 15-16 percent earlier, and EBIT margin guidance remains unchanged at 21-22 percent.


HCL Technologies: The IT company reported better than expected earnings for Q3FY23. It clocked a 17.4 percent QoQ growth in Q3FY23 profit at Rs 4,096 crore and revenue increased by 8.2 percent to Rs 26,700 crore. Revenue in dollar terms grew by 5.3 percent sequentially to $3,244 million with constant currency revenue growth at 5 percent for the quarter. Total contract value was down 1.6 percent sequentially to $2,347 million, while the IT attrition rate dropped to 21.7 percent from 23.80 percent during the same period. The company revised full year constant currency revenue growth forecast to 13.5-14 percent from 13.5-14.5 percent earlier and also lowered EBIT margin guidance to 18-18.5 percent from 18-19 percent earlier.


V-Guard Industries: The company has completed acquisition of 100 percent shareholding in Sunflame Enterprises for Rs 680.33 crore. Out of the total consideration, Rs 25 crore will be paid by the company to the selling shareholders after two years from the date of closure.


Shriram Finance: Private equity player Apax Partners arm Dynasty Acquisition is likely to sell its entire stake - (up to 1.73 crore shares or a 4.63 percent stake) in Shriram Finance via a block deal on January 13, reports CNBC Awaaz quoting sources. As per the report, Apax will offer up to a 6 percent discount on deal. The deal size is Rs 2,250 crore including the green shoe option.


L&T Technology Services: The company has agreed to acquire the smart world & communication (SWC) Business of L&T. This will enable company to combine synergies and take offerings in next-gen communications, sustainable spaces and cybersecurity to the global market. Smart World & Communication was founded in 2016 to cater to the demands in smart cities, address opportunities and provide smart solutions in the areas of end-to-end communications, city surveillance and intelligent traffic management system for the Government as well as enterprises.


Rail Vikas Nigam: The company has bagged project worth Rs 38.97 crore. It has received letter of award from Southern Railway for the said project.


Anand Rathi Wealth: The company reported a 35 percent year-on-year growth in consolidated profit at Rs 43.22 crore for the quarter ended December FY23, backed by operating performance and topline. Consolidated revenue from operations grew by 30.6 percent YoY to Rs 138 crore in Q3FY23.


GTPL Hathway: The digital cable TV service provider has reported a 31 percent year-on-year decline in profit at Rs 37.6 crore for the quarter ended December FY23, impacted by weak operating performance. Revenue from operations grew by 15 percent YoY to Rs 705 crore with digital cable TV business rising 3 percent and broadband segment growing 18 percent, but EBITDA fell 11 percent to Rs 131.4 crore and margin contracted to 18.6 percent from 24.1 percent on year-on-year basis.


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Topic :- Nifty Opening Note


Indian Stock Market Trading View For 13 Jan,2023:


Nifty to turn volatile as the day progresses. Global cues to act as trend decider.


Nifty spot if manages to trade and sustain above 17900 level then expect some upmove in the market and if it breaks and trade below 17840 level then some decline can follow in the market. Please note this is just opening view and should not be considered as the view for the whole day.


Hundreds of flights across US grounded due to FAA system outage

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Hundreds of flights across the United States have been affected after the Federal Aviation Administration experienced a computer outage, according to reports in the US media.


"The FAA is working to restore its Notice to Air Missions System. We are performing final validation checks and reloading the system now. Operations across the National Airspace System are affected. We will provide frequent updates as we make progress," the FAA tweeted.


The US Federal Aviation Administration's (FAA) system that alerts pilots and other flight personnel about hazards or any changes to airport facility services and relevant procedures was not processing updated information, the civil aviation regulator's website showed on Wednesday.


In an advisory, the FAA said its NOTAM (Notice to Air Missions) system had "failed". There was no immediate estimate for when it would be back, the website showed, though NOTAMs issued before the outage were still viewable.


Over 400 flights were delayed within, into, or out of the United States as of Wednesday 5.31 am ET, flight tracking website FlightAware showed. It was not immediately clear if the outage was a factor.


"Technicians are currently working to restore the system," the website showed. The FAA was not immediately available for further comment.


A NOTAM is a notice containing information essential to personnel concerned with flight operations, but not known far enough in advance to be publicized by other means.


Information can go up to 200 pages for long-haul international flights and may include items such as runway closures, general bird hazard warnings, or low-altitude construction obstacles.


Share Market Warp Up Note as on 9 Jan,2023

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Indian benchmark indices ended on positive note on January 9 with Nifty finishing around 18,100.


At Close, the Sensex was up 846.94 points or 1.41% at 60,747.31, and the Nifty was up 241.70 points or 1.35% at 18,101.20. About 1986 shares have advanced, 1542 shares declined, and 155 shares are unchanged.


M&M, TCS, HCL Technologies, Tech Mahindra and IndusInd Bank were among the top gainers on the Nifty. However, losers were Titan Company, Bajaj Finserv, Grasim Industries, Bajaj Auto and HDFC Life.


Among sectors, Information Technology, power, auto, capital goods, oil & gas, metal and PSU bank index up 1-2 percent. 


BSE midcap index up nearly 1 percent and smallcap index up 0.5 percent.


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Topic :- Time:3.15 PM


Just Inl

The IT sector earnings season for the third quarter of fiscal year 2023 is set to begin today, starting with IT services major Tata Consultancy Services (TCS). This will be followed by Infosys and HCLTech on January 12 and Wipro on January 13 � all in the same week.


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Topic :- Time:3.05 PM


Nifty spot close above 18100 level will result in some further upmove in coming sessions and if it closes below above mentioned level then some sluggish movement can follow in the market. Avoid open short positions for tomorrow.


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Topic :- Time:2.30 PM


GOLD Trading View:

GOLD is trading at 56045.If it breaks and trade below 56020 level then expect some decline in it and if it manages to trade and sustain above 56080 level then some pull back can be seen however for now trend is sell from rise at the moment.


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Topic :- Time:2.00 PM


Nifty spot is trading at 18043. If it holds above 18000 level then expect some pull back in the market and if it breaks and trade below 18000 level then some decline can be seen. Nifty positional target is 18300. So trade accordingly.


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Topic :- Time:1.20 PM


Nifty slided from the higher level however some recovery can be seen in the market. Nifty spot if manages to trade and sustain above 18080 level then expect some upmove in the market and if it breaks and trade below 18020 level then some decline can follow in the Nifty.


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Topic :- Time:12.50 PM


Just In:

Indian Bank to hold special rupee vostro accounts of 3 Sri Lanka banks.


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Topic :- Time:12.30 PM


COPPER Trading View:

COPPER is trading at 741.80.If it breaks and trade below 740 level then expect some decline in it and if it manages to trade and sustain above 742.50 level then some upmove can follow in it.


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Topic :- Time:12.20 PM


Just In:

Asian Paints lines up Rs 2,000-crore additional capex for new plant amid competition.


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Topic :- Time:12.0 PM


Nifty spot if manages to trade and sustain above 18140 level then expect some quick upmove in the market and if it breaks and trade below 18000 level then some decline can be seen in the Nifty.


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Topic :- Time:11.30 AM


News Wrap Up:

1. Sensex rallies 900 pts, Nifty above 18,100, Titan trails

2. Arrest not in accordance with law: Bombay HC grants bail to Chanda Kochhar

3. Joshimath sinking: Admin asks residents to move to relief centres

4. Paytms loan disbursals jump 330 per cent in December, GMV up 38 per cent

5. Tata Digital loss up nearly 6x in 2022; revenue grew threefold, shows data

6. Kalyan Jewellers surges 6%; reports up to 13% revenue growth in Q3

7. Infrastructure stocks in focus; PNC, HG Infra, Ashoka Buildcon soar upto 7%

8. Titan slips 3% despite 11% YoY jewellery sales growth in Q3 update

9. Total business to cross Rs 2 trn milestone soon: Punjab & Sind Bank MD

10. Govt engaging with diff layers to ensure EoDB aid reach ground level: FM


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Topic :- Nifty Opening Note


Indian Stock Market Trading View For 09 Jan,2023:


Nifty is likely to turn volatile as the day progresses. Stock specific good action is expected in the market. Keep eyes on the Adani group and Reliance group.


Nifty spot if manages to trade and sustain above 17900 level then expect some upmove in the market and if it breaks and trade below 17800 level then some decline can be seen in the market. Please note this is just opening view and should not be considered as the view for the whole day.

Indian startups take 5 years to scale from zero to $100 mn in revenue: Report

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With India’s startup ecosystem maturing in the last decade, the time taken by new-age tech companies to reach the $100 million revenue has decreased significantly, as per a study by consultancy firm Redseer Strategy Consultants. The average time taken by startups to scale to $100 million in revenue has now come down to just five years in 2017 from 18 years in 2000, the study pointed out.


There are about 100 unicorns--startups with a valuation of $1 billion or more--and 170 soonicorns, a company with the potential to become a unicorn, in India. Of these 270 companies, more than 40 operating in fintech, ecommerce, and logistics crossed $100 million in revenue as of the financial year 2022, the report said.



At present, India has close to 480 startups clocking more than $10 million in revenue while less than 60 new-age tech firms have an annual income in the range of $100 million to $1 billion.


The study also pointed out the role of investors, particularly venture capitalists, in helping startups scale from zero to $100 million in revenue. “Venture capital has played a central role in helping startups scale to the $100 million revenue milestone. Besides capital, investors add tremendous value to the companies they fund. In addition, the knowledge of governance, financial prudence, and networks brought by VCs are invaluable for startups," it said.


In total, VCs have invested about $143 billion over the last 15 years in the startup ecosystem, which is currently valued at $804 billion, as per the study’s estimates. At current valuations, it translates to around 4.5 times return for VCs on their investments.


Pointing out the challenges faced by most startups in their growth journeys, the study said those in niche industries restrict their total addressable market, while others need help with product-market fit and unsustainable growth.


Startups in the red ocean market --the industries with well-defined market space and industry boundaries-- operate in a highly competitive environment and need a unique competitive advantage to stay afloat, it added.


Challenges like poor profitability and bottlenecks with organization, governance, and operations are the reasons that even lead to the shutting down of startups, the study said.


Last year, 2,404 new-age tech companies winded up their operations, more than double the 1,012 that had shut shop in the previous year, according to data from Traxcn. Close to 266 startups that shut down this year were funded by venture capital, angel investors, family offices or institutional investors. The companies had raised close to $290 million, the data showed.


Jack Ma's Ant wins approval to raise $1.5 bn capital for its consumer unit

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The deal resolves a key hurdle for Ant as it seeks to meet requirements from regulators following a crackdown on its business after its record initial public offering was torpedoed in 2020

Chinese regulators approved a plan by billionaire Jack Ma’s Ant Group Co. to raise 10.5 billion yuan ($1.5 billion) for its consumer unit, signaling progress in the government-ordered overhaul of the financial technology firm.
The China Banking and Insurance Regulatory Commission division in Chongqing green-lit the company’s plan to lift its capital to 18.5 billion yuan, according to a notice on Dec. 30. Ant, which contributed 5.25 billion yuan as part of the plan, will control half of its shares after the deal, while a unit owned by the city of Hangzhou will hold 10%, becoming the second-biggest shareholder.

The deal resolves a key hurdle for Ant as it seeks to meet requirements from regulators following a crackdown on its business after its record initial public offering was torpedoed in 2020. Chinese regulators have reined in shadow banking over the past years to reduce economic risk and Ant is still waiting to obtain a financial holding license that will regulate it more like a bank.

The greenlight is another sign that Beijing is softening its stance on its giant internet sector, traditionally a big driver of growth, as the world’s No. 2 economy sputters. Last week, authorities approved the most significant batch of new blockbuster game releases in months, allowing Tencent Holdings Ltd. to refill a pipeline emptied by the crackdown.

Shares of Ma’s Alibaba Group Holding Ltd. rose as much as 7.7% after the Ant news and the Hang Seng Tech Index extended its rally to 3.3%. Tencent jumped nearly 4% while Baidu Inc. surged 6%.

“We view it as a signal on Ant’s regulatory rectification wrap-up,” Leon Qi, an analyst with Daiwa Capital Markets Hong Kong Ltd., wrote in a report. The consumer unit will be able to handle 1.1 trillion yuan of loans once the fundraising is complete, he said.

Other new investors include Sunny Optical Technology Group Co. and Jiangsu Yuyue Medical Equipment & Supply Co. The consumer finance unit combines Ant’s most lucrative online lending operations, Huabei and Jiebei.

The current plan is a scaled-down version of an earlier effort to boost capital to 30 billion yuan. Cinda Asset Management, one of China’s bad-debt managers, last year withdrew a plan to invest 6 billion yuan for a 20% stake in the consumer finance giant, without disclosing a reason.

Ma has maintained a low profile since Ant’s IPO was halted. In a filing in July, Alibaba reiterated that Ma “intends to reduce and thereafter limit his direct and indirect economic interest in Ant Group over time” to a percentage that doesn’t exceed 8.8%.

SBI board approves raising ₹10,000 crore via infrastructure bonds

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Country's largest lender by assets, State Bank of India (SBI), on Tuesday said that its board has considered raising funds through issue of infrastructure bonds worth up to ₹10,000 crore during financial year 2023.


The meeting of the Executive Committee of the Central Board of State Bank of India was scheduled to be held today.


“The Executive Committee of the Central Board to be held on Tuesday, 03rd January, 2023 to consider raising of Infrastructure Bonds up to an amount of ₹10,000 crore," the state-owned bank said in a regulatory filing.


“Raising Infrastructure Bonds up to an amount of Rs. 10,000 crores through a public issue or private placement, during FY23," SBI said.


In December last year, SBI had raised ₹10,000 crore through its maiden infrastructure bond issue.Earlier on Monday, the Reserve Bank of India (RBI) said that SBI, along with private sector lenders such as ICICI Bank and HDFC Bank, continue to be Domestic Systemically Important Banks (D-SIBs) or institutions which are 'too big to fail'.


SIBs are perceived as banks that are 'too big to fail (TBTF)'. This perception of TBTF creates an expectation of government support for these lenders in times of distress. Due to this, these banks enjoy certain advantages in the funding markets.


The RBI had announced SBI and ICICI Bank as D-SIBs in 2015 and 2016. Based on data collected from banks as on March 31, 2017, HDFC Bank was also classified as a D-SIB.


The current update is based on data collected from banks as on 31 March, 2022.


Spandana Sphoorty shares rally on sale of Rs 323-crore stressed loan to ARC

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Spandana, a rural-focused non-banking financial company and a microfinance lender (NBFC-MFI) reported a consolidated net profit of Rs 55.15 crore in Q2 FY23 as against a net loss of Rs 57.94 crore in Q2 FY22. The firm's scrip is currently trading at Rs 548.95 on the BSE.

Spandana Sphoorty Financial, a rural-focused non-banking financial company and a microfinance lender (NBFC-MFI), reported a consolidated net profit of Rs 55.15 crore in Q2 FY23 as against a net loss of Rs 57.94 crore in Q2 FY22.

Shares of Spandana Sphoorty Financial rallied over 5 percent after the company approved the transfer of its stressed loan portfolio, including written-off loans, to an asset reconstruction company (ARC), amounting to Rs 95 crore. The written-off portfolio had an outstanding of Rs 323.08 crore as on September 30.

The microfinancier shall follow Swiss Challenge Method for the amount.

"The board has approved the transfer of stressed loan portfolio including written off loans of Rs.323.08 Crore outstanding as on September 30, 2022 to an Asset Reconstruction Company pursuant to Swiss Challenge Method for a consideration of Rs.95 Crore," the firm said in a release.

The rural-focused non-banking financial company and a microfinance lender (NBFC-MFI) reported a consolidated net profit of Rs 55.15 crore in Q2 FY23 as against a net loss of Rs 57.94 crore in Q2 FY22.  The firm's scrip is currently trading at Rs 548.95 on the BSE.

Videocon case: CBI to produce Chanda Kochhar, husband at Mumbai spl court

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The CBI will produce ICICI Bank's former CEO and MD Chanda Kochhar and her husband Deepak Kochhar at a Mumbai Special Court Saturday afternoon in connection with alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies, officials said.


The agency will seek a police remand of both accused to interrogate them in connection with the case, they said.


A team of CBI officials is accompanying the couple on a flight to Mumbai this morning, the officials said.


The Kochhars were called to the agency headquarters on Friday and arrested after a brief questioning session.


The CBI has alleged that they were evasive in their responses and did not cooperate in the investigation.


Sources said the agency is likely to move at a swift pace to file the first charge sheet in the case, in which the Kochhars could be named along with Venugopal Dhoot of Videocon Group.


The CBI had named the Kochhars and Dhoot, along with companies Nupower Renewables (NRL) managed by Deepak Kochhar, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Limited, as accused in the FIR registered under IPC sections related to criminal conspiracy and provisions of the Prevention of Corruption Act in 2019, they said.


The CBI had alleged that ICICI Bank had sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon Group promoted by Dhoot in violation of the Banking Regulation Act, RBI guidelines, and credit policy of the bank.


It was also alleged that as a part of the quid pro quo, Dhoot made an investment of Rs 64 crore in Nupower Renewables through Supreme Energy Pvt Ltd (SEPL) and transferred SEPL to Pinnacle Energy Trust managed by Deepak Kochhar through a circuitous route between 2010 and 2012.


It is alleged that during the tenure of Chanda Kochhar at ICICI Bank, six loans worth Rs 1,875 crore were cleared for the Videocon Group and its associated companies during 2009-11. In two cases, she was on the sanctioning committees, according to the FIR.


Chanda Kochhar was on the sanctioning committee deciding two loans -- Rs 300 crore to Videocon International Electronics Limited (VIEL) on August 26, 2009, and Rs 750 crore to Videocon Industries Limited on October 31, 2011, it has alleged.


The loans were issued in alleged violation of laid-down policies and regulations of the bank, the FIR alleged.


Most of these loans became non-performing assets, causing a loss of Rs 1,730 crore to the bank, it alleged.


A day after the Rs 300-crore loan was disbursed by ICICI Bank to VIEL, Dhoot transferred Rs 64 crore to Nupower Renewables, managed by Deepak Kochhar, on September 8, 2009, it further alleged.


The transfer of Rs 64 crore was made from Videocon Industries Ltd through SEPL.


"This was the first major capital received by NRL (Nupower Renewables) to acquire the first power plant. Chanda Kochhar got illegal gratification, undue benefit through her husband from VIL/VN Dhoot for sanctioning Rs 300 crore loan to VIEL," the FIR alleged.


On May 1, 2009, Chanda Kochhar has taken over the charge of ICICI Bank as Managing Director and CEO.

Why You Should Look for Stock Advice Online

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Do you have any idea why you should look for stock advice online? The stock market is not surely a piece of cake – it is a very intricate, well-organized, but at the same time totally volatile and unpredictable marketplace. So what about online advise? Go for it! Online advice, if it comes from a well trusted source, is the most effective, up-to-date and powerful form of stock market advice available anywhere on earth. You have got to understand that along with stock market knowledge, it is equally important to first acquire first hand stock market experience. This can only be achievable when you take into service a stock broker. Go ahead and hire one and prepare to be his apprentice. Make all your transactions though your stock broker and observe him carefully. Eventually, maybe in a couple of months, some of your stock broker’s perceptions and ploys will have chafed on you. You will at that time be knowledgeable, experienced and self confident enough to take the plunge into the stock market on your own! You should know and understand the different terms of the online stock market as well.

 

Get reliable internet connection

Even if you have enough knowledge and experience of the stock market and are raring to go the whole nine yards alone, you must also have a sufficiently fast and utterly reliable internet connection. There are several real life instances of people having their internet connection suddenly failing when they are making online contracts. A great many of these unfortunate people have had lasting trouble recovering their money lost due to an unstable internet connection. So, it is absolutely essential to have a consistent World Wide Web affiliation – in plain English, get a fast and dependable internet connection as soon as possible!

 

Get valuable online advice

Just the once you have got hold of the requirements of internet stock trading, you can as a final point formulate the hop. However furthermore be sentient that there will be thousands, if not more, of online dealers just like you, waiting to be on the same wavelength. So many online players will certainly effect a very quick change in market scenarios. Before you know, the market will have soared or fallen. So the best thing you can do is to get to be an affiliate of an online traders’ group. This will help you to get valuable online advice and your much required stock market props. Also, you will for the most part undeniably come across hi-tech problems in the vein of a dawdling business deal, grave online passage, or a terrible server. As a result for the most part intellectual activity to do at this juncture is to get hold of a ready backup. A backup will be capable of substituting for the regular connection for as long as necessary. It can be an ordinary touchtone phone line, a fax machine or maybe even your mobile handset.

  

Shape up an individual line

There are numerous websites that provide valuable information about the share market. Important topics like “How to start an account in the stock market”, “How and when to buy/sell” etc are all covered. Shape up an individual line of attack with the intention of you being able to rely on intently. Just the once you have shaped up your personal line of attack of carrying out business, bond devotedly to it. There will be encumbrances – there will be many attackers in the market who will tend to ill-advise you. Don’t advance on shares conditional on a random tip not including thorough examination. You must in no way be frightful. The stock market is very impulsive. The whole market picture might transform in no time at all! It possibly will so take place that the shares you have bought just the other day might be rapidly depreciating in value all of a sudden because of the dip in the stock market. Don’t hastily sell off all those shares immediately. Let your shares remain as they are unless anything elementary is amiss with your trusted company. This is why you should look for stock advice online.

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