Category: Markets

Shares of Delphi World Money hit a 10 percent upper circuit on September 21 on the back of heavy volumes. The company's financial performance has been strong in recent quarters, with revenue and profit growing significantly. The stock has outperformed the benchmark Sensex on a year-to-date basis.

SJVN shares tanked 9% in early trade on September 21 after the government launched an OFS for up to 4.92% equity stake at a deeply discounted floor price of Rs 69 per share, a 15% discount to the previous closing price. The OFS opens for non-retail investors on September 21 and for retail investors on September 22.

Sheela Foam shares jumped nearly 2% on September 21 as the company launched its proposed QIP to fund its acquisition of Kurlon. The floor price for the QIP issue is Rs 1,133.99 per share. Promoters hold the majority 72.95% stake in the company. Sheela Foam stock has delivered a return of 7.14% over the last six months.

Infosys stock fell nearly 1% on September 21, despite the company's announcement of a partnership with NVIDIA to build generative AI tools for businesses. The partnership will see Infosys integrate NVIDIA's AI Enterprise ecosystem into its AI-first offering Topaz and train 50,000 employees on NVIDIA's AI technologies. NVIDIA also announced partnerships with Reliance and the Tata Group in early September. The partnerships will focus on providing AI supercomputer technologies, developing and processing generative AI applications, and upskilling employees in AI.

The aviation sector is facing a double whammy of high crude oil prices and declining passenger traffic in Q2FY24. This could impact aviation companies' near-term profitability if they do not have the right pricing power mix. Analysts at Kotak believe that the shift to international travel could limit pressure on yields, especially for Indigo, which dominates 63% of the domestic market share. However, analysts at IDBI Capital suggested investors warrant caution on the overall sector in the near-term. The aviation sector is facing a double whammy of high crude oil prices and declining passenger traffic in Q2FY24. This could impact aviation companies' near-term profitability if they do not have the right pricing power mix. Analysts at Kotak believe that the shift to international travel could limit pressure on yields, especially for Indigo, which dominates 63% of the domestic market share. However, analysts at IDBI Capital suggested investors warrant caution on the overall sector in the near-term. The aviation sector is facing a double whammy of high crude oil prices and declining passenger traffic in Q2FY24. This could impact aviation companies' near-term profitability if they do not have the right pricing power mix. Analysts at Kotak believe that the shift to international travel could limit pressure on yields, especially for Indigo, which dominates 63% of the domestic market share. However, analysts at IDBI Capital suggested investors warrant caution on the overall sector in the near-term.

PSU stocks have rallied in recent times, which could pressure the government to disinvest in these companies in the run up to the 2023 state elections and 2024 general elections. The government may need to boost social spending ahead of the elections, which could lead to a sharp increase in expenses. A PSU rally could raise the chances of disinvestment in the near-term, as the government would need to raise funds to meet these expenses. Jefferies is cautious on the overall markets for the near-term, given higher global yields, rising crude prices, and rich valuations. They have trimmed weight on mid-cap industrial and property plays and shifted focus toward

The Nifty broke its three-day winning streak on September 18, but the medium-term trend remains positive. Traders are advised to accumulate longs on decline with a stop-loss at 19,770 on the Nifty on a closing basis. Broad market indices like Nifty Midcap and Smallcap indices are likely to underperform in the coming few weeks. Here are three buy calls for the next 3-4 weeks: AMI Organics, GSFC, and Axis Bank.

Amber Enterprises India Limited and Noise have entered into a joint venture (JV) agreement to boost the manufacturing and innovation of smart wearables in India. The JV will combine the two companies' strengths and expertise to create a strong vertically integrated ecosystem for smart wearables manufacturing and innovation in India. The JV is expected to have a number of positive benefits for the Indian smart wearables market, including increased domestic manufacturing, more affordable and accessible smart wearables, and growth of the local smart wearables ecosystem. The JV is also aligned with the Indian government's Make in India initiative. In addition to boosting manufacturing, the JV is also expected to focus on innovation.

Indian equity markets are expected to consolidate in the coming days, with the Nifty50 likely to move in the 20,200-19,900 range. The market may remain directionless until the outcome of the two-day Fed policy meeting scheduled on September 20. Investors should be cautious and avoid making any aggressive bets. It is important to focus on quality stocks with strong fundamentals and maintain a diversified portfolio across different asset classes and sectors. Investors may want to watch stocks like Mahindra & Mahindra, Yes Bank, and Bank of Baroda.

Rakshit Ranjan, co-founder of Marcellus Investment Managers, is bullish on businesses in South India and women investors. He attributes South India's economic dominance to the availability of better quality skilled labor and companies offering products and services that cater to the rising affluence of the region. He believes that women are a major force driving investment in India, and that their literacy rates are higher than those of men. He expects this trend to accelerate in the coming decade, and sees Nykaa and Trent (Westside and Zudio) as two companies that are well-positioned to benefit.