This week, the Nifty50 showed volatility due to economic events such as inflation data. Monday saw a flat opening. With support at 21,800 and bullish sentiments, outlook for next week is positive with a resistance level of 22,500. Top stock recommendations include ITC, HDFC AMC, and UPL, with strong fundamentals and technical indicators pointing towards potential gains.
Open FlipSecureNow Insurance Brokers offers an A-rated health insurance policy from ICICI Lombard with attractive features, efficient claims handling, and comprehensive coverage. The plan allows for restoration of coverage after a claim, includes Ayush treatments. However, there are limitations such as disease-wise waiting periods and geographical restrictions that should be carefully considered.
Open FlipIndia aims to become a $35 trillion economy by its 100th independence day in 2047, making it the second largest economy in the world. To achieve this, India needs to grow by 9-10% annually for three decades and focus on constant innovation and disruption in areas like AI, logistics, health, and education. India has the potential to lead in global skilled workforce and technological advancements.
Open FlipThe Reserve Bank of India (RBI) has clarified in detailed FAQs that the Paytm Payments Bank Limited will continue to exist until most customers withdraw or transfer their money from their accounts, wallets, and other instruments. The bank will have to shut down its products and services, including the UPI payment service provider (PSP) service it offers to One97, as per the regulator's orders.
Open FlipBYJU'S, known for its brand name Think and Learn, has received a commitment of $300 mn from investors for its ongoing rights issue. The company has faced criticism and miffed investors for its reduced valuation and alleged financial mismanagement. It plans to appoint two independent directors to address transparency concerns after closing the rights issue and declaring financial results.
Open FlipThe new tax regime eliminates over 70 tax breaks, but retains some key benefits like tax exemption on employer contributions to NPS. Many employees are not taking advantage of this benefit, which is available in both old and new tax regimes. Employees can contribute voluntarily to NPS for additional tax deductions under section 80C and 80CCD(1B).
Open FlipPaytm's shares rose 5% and hit the upper circuit for the second day in a row after partnering with Axis Bank for merchant payments. One97 Communications, has shifted its nodal account to Axis Bank and will continue to operate for all merchant partners. The Reserve Bank of India has extended the deadline for Paytm Payments Bank customers to switch to alternative banks until March 15.
Open FlipIndian stock market continues to climb, with Nifty 50 index hitting new highs and sustaining above the crucial 21,800 mark. Experts predict a further bull trend if the index breaks through the resistance at 22,125, with five triggers including positive election surveys and global market cues likely to fuel the rally. Liquidity is also expected to increase with a potential rate cut by the RBI.
Open Flip📈 Amid mixed global cues, benchmark indices started on a flat note today. 📊 At 9:16 AM, the Sensex gained 76.43 points or 0.11% at 72,503.07 and the Nifty was up 36.35 points or 0.16% at 22,077.05. 📢Balrampur Chini (⬆️3.81%), Bandhan Bank (⬆️1.64%) and Metropolis (⬆️1.57%) appeared as the top performers on the Nifty50 at open.
Open FlipMitsubishi Corp is entering the car sales business in India through a stake acquisition of over 30% in TVS Mobility. The investment, worth up to $66 million, will create a new entity focused on selling Japanese cars and promoting EVs. Mitsubishi plans to improve customer experience through new services and boost sales in the competitive Indian market.
Open FlipCommodities showed a positive trend after a week of fluctuations, except for gold. US economic data and speeches by Federal Reserve officials affected market sentiment. Inflation figures sparked uncertainty about the Fed's easing plans, but poor retail sales renewed expectations for rate cuts in the first half of the year. ETF outflows and high domestic prices dampened Indian demand for gold.
Open FlipZomato, a food delivery major, plans to expand its 10-minute delivery platform, Blinkit, by adding products from various categories. This move will put Zomato in direct competition with e-commerce giants like Amazon and Flipkart. The company aims to build its supply chain to directly source products and manage stock for Direct-to-Consumer (D2C) brands.
Open FlipAsian shares started the week slow due to decreasing chances of early global rate cuts, but investors are hopeful for a boost from China's return from holiday. Results from Nvidia on Wednesday will test the recent surge in tech stocks. China saw a 47% increase in tourism during Lunar New Year. Global markets have revised their expectations for US rate cuts following high inflation readings.
Open Flip📌Paytm said it has partnered with Axis Bank for the settlement of merchant payments. 📌LICI had received refund orders for Assessment Years 2012–13, 2013–14, 2014–15, 2016–17, 2017–18, 2018–19, and 2019–20. 📌Tata Power has received an LOI from REC Power Development and Consultancy, a wholly-owned subsidiary of REC. 📌IRDAI has granted in-principle approval to Policybazaar Insurance Brokers.
Open FlipBear markets in crypto don't last forever. We could be at the beginning of a historic period leading to another bullish market, with Indian investors joining in. A bull run is marked by positive sentiment, rising prices, institutional adoption, and FOMO. Events such as BlackRock's Bitcoin ETF approval and the upcoming halving have sparked optimism.
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