Saturday, January 19, 2019

RBI governor says growth and stability are priority

RBI governor says  that steps will be taken to help sustain growth in the economy. Balancing inflation and growth would require careful analysis of new incoming data.

All necessary steps to maintain financial stability and to facilitate enabling conditions for sustainable and robust growth. He was speaking at Vibrant Gujarat Global Summit.

Snapdeal announces mega Republic day sale.

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E commerce giant, Snapdeal has announced Republic Day sale and will offer products from all categories with great discounts. ‘Deals of India’ sale by Snapdeal will commence on January 20, 2019 and will continue till January 24 midnight. 

Snapdeal will offer great discounts on a large collection of TVs, laptops, home appliances, kitchen appliances and electronics. With SBI debit cards, consumers can avail extra 10 percent discount.

TVs of brands like Intex, Westway and Detel will be sold from Rs. 3,999. Price of vacuum cleaners will start from Rs 1799. Up to 70% discount will be available for Skybags, backpacks and luggage.

Contrary opinion : Buy Sun Pharma

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Sun Pharma’s stock  has lost 10% in the last one month and more than 30% in the last 1 year due to variety of reasons including the whistle-blower complaint. 

FirstChoiceIPO has buy call on the stock despite negative sentiments prevailing in the market. The stock closed at Rs 390, down Rs 36 in Friday's trading.

 Buy at current level, expect the stock to move towards Rs 450 level in the short term / few trading days.

FAANG stocks could surprise the market in 2019

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FirstChoiceIPO expect double-digit share-price increases for all the FAANG stocks from the current levels over the next year:
FAANG company
Closing price - 18-01-2019FirstChoiceIPO price target
Facebook Inc. Class A
$150$188 Inc.

Apple Inc.

Netflix Inc.

Alphabet Inc. Class A (Google)

HDFC Bank posts highest ever profit

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 HDFC Bank posted a 20 percent year-on-year growth in its December quarter  net profit at Rs 5,586 crore, highest ever, for a quarter. The bank met the analyst estimates even as provisions rose considerably in the third quarter.

The bank had posted a profit after tax of Rs 4,643 crore in the same period last fiscal.

The net interest income rose to Rs 12,577 crore up 22 percent YoY. In the year ago, the bank had posted NII of Rs 10,314 crore.

Nirav Modi scam : Center removes 2 ED's of PNB

Central government has removed two Punjab National Bank  Executive Directors -- Sanjiv Sharan and K.Veera Brahmaji Rao -- for the lapses in the Rs 13,500 crore fraud by diamond trader Nirav Modi.

Friday, January 18, 2019

HUL reports Rs 1444 Cr ner

HUL has reported a growth of 9 percent in its net profit for the December quarter. The profit for third quarter has come in at Rs 1,444 crore against last year's Rs 1,326 crore.

The company posted revenue of Rs 9,558 crore during the quarter under review. It rose 11 percent compared to its previous year revenue of Rs 8,590 crore.

Thursday, January 17, 2019

RBI eases ECB norms

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RBI has allowed entities that are eligible to receive foreign direct investment (FDI) to raise external commercial borrowings (ECBs), by enabling them to raise funds through automatic route up to $750 million per year. 

The ECBs raised would be within the overall cap set by the regulator on December 20 last year — at 6.5 per cent of gross domestic product. 

Wednesday, January 16, 2019

Netflix gains 6% on increasing subscription rates

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Streaming service  provider Netflix has  gained 6 odd percent in Tuesday's trade and closed at $354.64.

The company is increasing the cost of its standard plan in the US from $10.99 to $12.99 a month.

The rise - between 13% and 18% depending on the plan - marks the firm's second increase in less than two years and is the most significant since it launched streaming video in 2007.

Adani Power plans to borrow Rs 10,000 Cr

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Adani Power which has more than Rs 50,000 Cr debt on its books has again approached  two State-run lenders, Rural Electrification Corporation and Power Finance Company, for its 1,600-MW Godda power project in Jharkhand.

According to industry sources, REC and PFC are likely to approve ₹5,000 crore each, which would make it the largest debt financing for a greenfield thermal power project.

Adani Power has been reporting losses for many quarters.