Auto sector top stock picks: OEMs to beat ancillaries; brokerage says buy Maruti, TVS, UNO Minda, others
Automobile OEMs (original equipment manufacturers) will likely outpace ancillary companies in sales growth in the upcoming fiscal first quarter financial results. “Q1FY24E revenues for OEM universe (ex-Tata Motors) may likely improve 19.7% YoY (+0.9% QoQ), while those for ancillaries may grow +13.5% YoY (+0.5% QoQ),” brokerage firm Elara Securities said in a research note. The report preferred Maruti Suzuki, TVS Motors, Hero MotoCorp, and Bajaj Auto as their top stock picks in the auto OEM segment. Further, Samvardhana Motherson International, UNO Minda, and Minda Corporation are among the brokerage’s top stock picks in the ancillaries segment.
Nifty hurdle at 19500-19700, Bank Nifty may consolidate; Airtel, Bharat Forge, BHEL among top stocks to buy
Markets have been inching higher, after reclaiming the record high after seven months. The recent leg was almost vertical, thanks to rotational participation across sectors and supportive global markets. The highlight was the alignment of the banking index, which had been underperforming for the last several weeks. Besides, the broader indices too maintained their positive tone and continue to edge higher.?
HDFC Bank to pip Reliance Industries as crown jewel in Nifty 50
Following the HDFC merger, HDFC Bank is set to dethrone Reliance Industries as the bluechip with the heaviest weightage in the benchmark Nifty 50. Once HDFC’s shares have been delisted from the key index on July 13, HDFC Bank’s weightage will increase to 14.43% while Reliance Industries’ weightage will fall 10 bps to 10.8%, according to Nuvama.?
SIP calculator: 5 Small Cap funds turn Rs 5,000 SIP into Rs 22.5 lakh to Rs 35 lakh in 10 years
Mutual Fund SIP calculation: Small Cap funds have emerged as one of the most popular mutual fund categories for investors seeking very high returns over the long term. And most of the small-cap funds have not disappointed investors by giving over 17% returns under their direct plans. However, five top-performing small-cap funds have given over 22% returns under their direct plans.
Data on the website of the Association of Mutual Funds in India (AMFI) at the time of writing on July 11 shows that direct plans of as many as five small-cap funds have given more than 22% annualised returns to investors in 10 years. The regular plans of these funds have also given over 21% returns in 10 years.
GST Council Meeting likely to deliberate on key taxation issues, reforms
The GST Council’s 50th?meeting is scheduled later today. Some of the key issues that are likely to be on the agenda include Utility Vehicle definition, tightening the norms for registration and claiming input tax credit and taxation of online gaming. The Council will be chaired by Finance Minister Nirmala Sitharaman and a panel of state representatives will be attending the meeting.
领英推荐
Income Tax Return and ITR Refund for AY 2023-24 processed or not? How to check status
How to check Income Tax Return processing and ITR refund status for AY 2023-24? While more than 1.5 crore taxpayers have filed their Income Tax Returns (ITRs) for Assessment Year 2023-24, many of them are awaiting faster processing of their returns and refunds.
As per the latest data shared by the Income Tax Department, as many as 1,89,56,358 ITRs for AY 2023-24 were filed till July 9, 2023. Of these, over 1.74 crore returns have been verified by taxpayers while the Income Tax Department has processed over 46 lakh verified returns till July 9. This article explains how to check your ITR status and Income Tax Refund Status.
Tata Group closes in on deal to become first Indian iPhone maker
Tata Group, India’s largest conglomerate, is close to an agreement to acquire an Apple Inc. supplier’s factory as soon as August, marking the first time a local company would move into the assembly of iPhones, according to people familiar with the matter. A takeover of the Wistron Corp. factory in southern Karnataka state, potentially valued at more than $600 million, would cap about a year of negotiations, said the people, asking not to be named as the matter is private. The facility employs more than 10,000 workers, who assemble the latest iPhone 14 model.
L&T signs master ship repair agreement with US Navy
L&T shipyard in Kattupalli near Chennai has been undertaking voyage repairs of the Military Sealift Command vessels. The shipyard is set to become a hub for repairs of US Navy ships, including battleships, for five years as the US Navy has signed a five-year master shipyard repair agreement (MSRA) with the company. The agreement marks yet another step in the growing relationship between the US and India, further strengthening the strategic partnership between the two countries in the defence sector.
Mercedes-Benz India sells 8,528 units in H1 2023: Best-ever half-yearly sales
Mercedes-Benz India has revealed its sales figures for H1 2023. The Indian subsidiary of this German car manufacturer recorded its best-ever H1 with sales of 8,528 units in the January to June 2023 period, achieving a 13 percent YoY growth. According to Mercedes-Benz India, the demand for its top-end vehicles (those priced at Rs 1 crore or above) is very high and it grew by 54 percent.?
Here’s all about Isha Ambani’s new role in Reliance and her lavish lifestyle…
In a significant move that highlights the growing influence of the Ambani family, Isha Ambani, the daughter of Reliance Industries Limited (RIL) chairman Mukesh Ambani, has been appointed as a non-executive director of Jio Financial Services Limited (JFSL). This announcement comes as part of the ongoing succession planning within one of the world’s wealthiest families and signifies Isha’s rising prominence in the Reliance Group.