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Friday,20-September-2024
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Market volatility to continue with some initial surge in markets

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3 years ago

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The week began with a bang with new closing highs recorded on both the BSESENSEX and NIFTY on the very first trading day of the week. Alas! The good news ended there and markets fell on each of the remaining four days to end with losses for the week. BSESENSEX lost 1,282.69 points or 2.14 per cent to close at 58,765.78 points while NIFTY lost 321.15 points or 1.80 per cent to close at 17,532.05 points. The broader indices saw BSE100, BSE200 and BSE500 lose 1.65 per cent, 1.38 per cent and 1.19 per cent, respectively. BSEMIDCAP gained 0.12 per cent, while BSESMALLCAP gained 0.69 per cent. The closing high recorded during the week was 60,077.88 made on September 27 while the intraday high made was in the previous week at, 60,412.32 points, also made the same day. On NIFTY, the closing high made on the same day was 17,855.10 points while the intra-day high made was on the previous September 24at 17,947.65 points.

The Indian Rupee lost 42 paisa or 0.57 per cent to close at Rs 74.12 to the US Dollar. Dow Jones lost 471.54 points or 1.36 per cent to close at 34,326.46 points. A large part of the losses was reversed on Friday when Dow Jones gained 482 points. Had that not happened, loses would have been close to 950 points.

September series expired on the last trading day of the month at 17,618.15 points, a gain of 981.25 points or 5.90 per cent for the month. Markets were under pressure this week and surrendered quite a bit and gave in to the bears.

The opening day of October series began on a weak note and continued with the prevailing weakness of the previous three days. NIFTY on the first day of the series lost 86.10 points and began on a weak note. The last time we saw such a trend was in the May 21 series which began on a weak note, losing 263 points on the opening day, April 30. The May series ended with gains of 442.95 points or 2.97 per cent. Using this as empirical evidence would suggest that though we began the first day of a new series on a weak note, we would in all probability end with gains for the series.

During the week we saw, bids for Air India being opened, and in all probability, it appears that the wheel has come a full circle. Air India which was nationalised way back in 1952-53, It is likely to be again owned and operated by the house of Tatas. While full details of the same are yet awaited, Tatas with their interest in newly acquired Air India which includes Air India, erstwhile Alliance Air, Air India Express and Indian Airlines along with their existing JV’s with Vistara and Air Asia would become a key and dominant player in aviation in India going forward.

In primary market news, the issue from Aditya Birla Sun Life AMC Limited closed for subscription and was subscribed 5.25 times. QIB portion was subscribed 10.36 times, HNI portion 4.39 times, Retail portion was subscribed 3.24 times and Shareholder preferential quota was subscribed 1.68 times. There were 15.66 lac applications.

On the side-lines of this issue, Standard Life sold 1.06 cr shares of HDFC AMC while this issue was on and garnered close to Rs 3,000 cr. The size of their sale was more than the amount raised by Aditya Birla AMC through their issue.

Shares of Paras Defence and Space Technologies Limited which is the highest response receiving issue since 2007, debuted on the bourses on Friday and had a lift-off on day one. Shares which were issued at Rs 175 closed at the upper circuit of Rs 498.75 on BSE, a gain of Rs 323.75 or 185 per cent. It’s a great start and the last time one saw anything near this kind of gains was in the case of IRCTC in October 2019.

Reserve Bank of India meets for its bi-monthly monetary policy review between Wednesday to Friday with the announcement on Friday. There maybe a minor hardening of repo rates

to reduce the excess liquidity in the system, but the expectation is not necessarily a consensus view. Barring this, the consensus is rates are expected to remain status-quo.

Calendar year 2021 has been the year of the primary markets but with one major difference. This year 75 per cent of the funds raised or more have been in the form of divestment by mainly the PE players and some portion of this by promoters. Growth capital or capital infusion into the company has been less than a fourth of the funds raised. PE investors invest money into a company through SPV’s where the name of the entity is different in each company where they invest and it is difficult for an investor to understand who is behind the company. In such a scenario like in the case of merchant bankers who give a track record of three years of their performance in new issues, a similar exercise should be mandated by SEBI for PE investors. This will help in a big way to make investors smarter and benefit in their understanding of value and valuations of a company. This will also give an idea in which PE Investor’s divestment is something left on the table.

On the covid-19 front, the world saw 23,54,35,786 patients, 48,11868 deaths and 21,22,44,299 patients who had recovered. In India we saw 3,38,13,903 patients, 4,48,846 deaths and 3,30,94,529 patients who had recovered. Compared to the previous week, the world saw 21,42,991 new patients, 54,291 deaths and 33,36,047 patients who had recovered. In India we saw 1,61,158 new patients, 1,898 deaths and 1,92,178 patients who had recovered. In terms of vaccinations, 88.94 cr vaccinations have been administered. This number includes the first and second vaccination combined.

Coming to markets in the week ahead, there should be some upward movement in the early part of the week on the back of sharp correction witnessed during the last week. This is also on account of the weakness in global markets led by Dow and the disturbing news coming from China on many fronts. The sharp rally witnessed on Dow on Friday should influence market opening on Monday but may not be enough for the rest of the week.

Considering the vulnerability and extreme volatility witnessed last week, it makes sense to continue the strategy of buy on sharp dips and sell on strong rallies. Keep some amount of money in cash as opportunities are available as was the case last week. Secondly with results reporting season beginning there would be higher stock specific action visible from next week onwards. On the back of results from the leaders, one would get a fair idea of how the sector is behaving. Use this analysis to play the markets.

Trade cautiously and curb temptation.

(Arun Kejriwal is the founder of Kejriwal Research and Investment Services. The views expressed are personal)

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New TVS Apache RR 310 Hits Indian Market at Rs 2.75 Lakh: All You Need to Know

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3 days ago

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September 17, 2024

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TVS has introduced the 2024 edition of its flagship Apache RR 310 in India, starting at Rs 2.75 lakh (ex-showroom). The updated model brings several enhancements, including segment-first aerodynamic winglets integrated into the side fairing, aimed at improving stability and performance.

The latest version of the TVS Apache RR 310 comes with a starting price of Rs 2.75 lakh (ex-showroom) for the Racing Red model. However, this variant does not include the bi-directional quick-shifter. For those looking to add this feature, it will cost approximately Rs 17,000 extra. The 2024 lineup also introduces a new Bomber Grey color option, priced at Rs 2.97 lakh (ex-showroom), offering a stylish and performance-focused upgrade.

The 2024 TVS Apache RR 310 retains its 312cc single-cylinder, liquid-cooled engine with a 6-speed gearbox, but now offers improved performance. The updated model produces 37 bhp at 9,800 rpm and 29 Nm of torque at 7,900 rpm. TVS also claims that it accelerates faster than before, shaving 0.43 seconds off its 0-100 km/h time, making it a more exciting choice for riders looking for speed and agility.

The 2024 TVS Apache RR 310 keeps its familiar trellis frame, supported by upside-down front forks and a rear monoshock for improved handling. Braking is handled by disc brakes. It also comes with a 5-inch TFT display that offers Bluetooth connectivity and navigation.

The updated electronics package includes new features like tyre pressure monitoring, cornering ABS, traction control, and cruise control. While the overall design remains similar, it gets refreshed decals and is available in three colours: Bomber Grey, Racing Red, and Race Replica.

TVS has introduced two performance kits for the new Apache RR 310: the Dynamic kit, priced at Rs 18,000, and the Dynamic Pro kit at Rs 16,000. The Dynamic kit enhances the bike’s handling with fully adjustable suspension, a tyre pressure monitoring system, and a brass-coated drive chain. The Dynamic Pro kit, meanwhile, focuses on safety and stability, offering race-tuned dynamic stability control for better on-road performance. These upgrades allow riders to customize their experience for both performance and safety.

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Business

Jio network down: users are facing problems

Published

3 days ago

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September 17, 2024

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Some Jio users in Mumbai are experiencing network outages, causing the issue to trend on Twitter. According to reports on social media, the disruptions have affected specific areas in the city. One user claimed that the Reliance Jio IDC Data Centre caught fire, potentially causing service interruptions. The user tweeted, “Reliance Jio IDC Data Centre caught fire, some services down due to that.

The network of Reliance Jio, one of the leading telecom companies in India, has been down for the last 1 hour. So users are facing a lot of problems. Many have posted about this on social media and tagged Reliance Jio. Reliance Jio network is down since last 1 hour.

Due to this, many works of Jio users have been stopped. A user posted on X and informed that the Jio service has been shut down due to a fire in the IDC (data center). Repair work is going on here. The network will be restored soon. But Reliance Jio has not given any official information about this yet. Therefore, users are asking when the network will be restored.

Reliance Jio service has been discontinued. Most of the users have no signal in their mobiles. 20 percent reported internet connectivity disruption on Down detector. 14 percent people are facing problems in running Jio fiber. Reliance Jio’s website is also not working properly and users are unable to access the Jio app.

There are more than 10 thousand complaints on Downdetector around 12 noon. More outage issues have been reported from cities like Delhi, Lucknow and Mumbai. Users across the country are complaining about Jio service being down. Jio on X is also trending down. People are sharing memes for Jio.

Reliance Jio services have once again been suspended in many parts of the country. Today i.e. on 17th September it started from Mumbai, the financial capital of the country and now Jio is down in all the cities of the country. Earlier in May and June 2024 also, Jio services were suspended in Mumbai. Users are constantly complaining on social media about Jio being down but there is no concrete solution and assurance from the company yet.

Users on social media claim that Jio services have been suspended across Mumbai. There is a network problem for several hours. Many users have also complained about the broadband service. Outage tracker Downdetector has also confirmed Jio’s outage. According to Downdetector’s map, it has stopped in New Delhi, Lucknow, Nagpur, Cuttack, Hyderabad, Chennai, Patna, Ahmedabad, Kolkata, Guwahati.

More than 10 thousand people have complained on Downdetector in just 1 hour. On this site, 67 percent people complained about lack of signal, 20 percent about mobile internet and 14 percent about Jio Fiber.

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Business

‘Take A Trip To Vietnam For Your iPhone 16’: X User Proposes Cost-Effective Way To Buy The Latest Apple Smartphone

Published

1 week ago

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September 10, 2024

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Apple recently launched its latest iPhone series, the iPhone 16 series. In addition, the company also launched the latest Apple Watch along with the latest version of Apple AirPods.

Trip To Vietnam For Apple

Apple products from time immemorial have been known for their exorbitant and sky-high pricing. Many have often made memes about having to sell their organs to be able to afford one of their iPhones.

Now, with the latest launch, and X user has found a way to cut corners by taking a trip.

According to the user, an aspiring iPhone buyer in India should take a trip to the East Asian nation of Vietnam to be able to get the new iPhone 16 at a cheaper rate.

However, the user also notes that these savings can only be made, if the buyer is intending to buy the advanced iPhone 16 Pro iPhone 16 Pro Max.

Savings Only iPhone 16 Pro

The user said, “Plan your #iPhone16 purchase with a trip to #Vietnam and spend the same amount you would be spending buying it here in India.”

In addition, the user also added, “But the savings work only if you are planning to buy the #iPhone16Pro or the #iPhone16ProMax”.

In addition, the user also surmised an instance of users travelling to the UAE an purchasing these phones.

According to the user, the Visa fees & fight rates don’t make Dubai that lucrative unless flying somewhere via UAE or planning for the #iPhone16ProMax only”.

As per the statistics produced by the user, the most expensive iPhone 16 Pro Max will cost an Indian buyer Rs 1,44,900 a piece. In Vietnam, however, it would cost a buyer Rs 1,18,992.

This marks a difference of Rs 25,908. Meanwhile, in the UAE, particularly in Dubai, the same phone would cost the buyer Rs 1,16,550, marking a difference of Rs 28,350.

The iPhone series will be available in India from September 20, with the pre-order for the phone starting on September 13.

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