5 Minutes Read

Kotak’s Harish Krishnan views this sector as a ‘dark horse’

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Harish Krishnan, EVP and Senior Fund Manager of Equity, Kotak AMC also shared his views on sectors such as railways, defence, pharma and healthcare.

Harish Krishnan, Executive Vice President & Senior Equity Fund Manager at Kotak AMC views metals sector as a dark horse.

Krishnan highlighted the potential of the metals sector, driven significantly by China’s role as both a major consumer and supplier.

He noted that while a significant investment surge like in the past may not be on the horizon, any level of supportive policy from China is likely to benefit metals trading.

He also emphasized the improved financial health of Indian metal companies, which now carry significantly less debt compared to previous cycles.

This resilience minimises risk and supports sector stability.

Additionally, the current low ownership levels in the sector suggests an attractive risk-reward ratio, making it a compelling option for medium-term investment, according to Krishnan

Krishnan prefers non-ferrous metals in the long term due to their widespread use across various industries, particularly amidst a global trend towards electrification.

Among other sectors, he finds opportunity in the pharmaceutical and healthcare sectors, “We are looking out in terms of price stability in the generics basket, as well as in terms of API correction. So I think that’s the area of opportunity for us.”

Krishnan is cautious on railways and defence. While there are positive developments such as export opportunities in the defence sector and the government’s focus on indigenisation, he believes that current valuations may limit further medium-term value creation.

Read Here | Do PSU and railways stocks have room for further upside? Vinit Sambre’s view

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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ABB India focused on operational synergies and market expansion

Electrification and automation company ABB India said they continue to focus on operational synergies and have the capacity to expand to newer markets.

With a substantial cash reserve of approximately ₹4,700 crore, the company is well-positioned for growth.

Speaking to CNBC-TV18, Sanjeev Sharma, MD & CEO of ABB India, emphasised their robust global cash reserves, with a significant portion allocated for potential acquisitions and organic expansion in India.

“If it creates a lot of value for the customer, and also creates a lot of value for ABB and ABB shareholders, so that cash is available for inorganic opportunities. There’s a good pipeline, and we keep on going through it, it can happen that ABB Group acquires something that has a large footprint in India. So it gets us there. In any case, we continue to use it for our organic expansion.”

Read Here | Swelling orderbook and special dividend take ABB shares 9% higher

The company has a market capitalisation of ₹1,19,343.62 crore. Its shares have risen 69% over the last year.

In the ‘Swotlight’ segment, CNBC-TV18’s Nigel D’Souza talks about Indian Metals & Ferro Alloys Limited (IMFA), a fully integrated producer of value-added ferro chrome and sells approximately 2.50 lakh tonne per annum.

 5 Minutes Read

ICICI Pru AMC’s Anand Shah is bullish on steel despite 2023’s underperformance — here’s why

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

While talking to CNBC-TV18, Anand Shah said ICICI Pru AMC has been overweight on steel and expects a positive shift in the industry’s global profitability over the next decade.

Anand Shah, Head of Portfolio Management Services (PMS) and Alternative Investment Funds (AIF) Investments at ICICI Prudential Asset Management Company, on Monday (March 4) said metals were a laggard throughout 2023.

He attributed this underperformance to challenges faced by China, the largest consumer and producer of steel, particularly in the real estate sector.

Despite the challenging year, Shah expressed optimism about steel, emphasising the reasonability of valuations.

While talking to CNBC-TV18, he said ICICI Pru AMC has been overweight on steel and expects a positive shift in the industry’s global profitability over the next decade.

Shah noted that as China prospers, its competitiveness in the international market is likely to diminish, especially as it transitions from blast furnace to electric arc furnace, making it less competitive on pricing.

It must be noted that shares of steel companies fell on Monday after CLSA downgraded certain stocks with stretched valuations and weaker industry spreads compared to their nemesis.

Further, commenting on the broader market trends, Shah acknowledged the performance of state-owned businesses and banks over the last 3-4 years.

He attributed their success to valuation comfort, making them relatively cheaper than the overall market.

However, he cautioned investors to be mindful of both market upsides and downsides.

Shah observed that recent rallies in cyclical stocks, driven by superior earnings growth rates during an upturn, also come with the risk of sharp earnings degrowth.

The ICICI Pru AMC’s head of PMS and AIF Investments further underscored the importance of stock picking in the current market scenario.

He stressed on the need for investors to be selective in choosing the right segments and companies within those sectors.

“Investors should consider both the upside and downside risks, given the evolving dynamics in the market and individual stocks,” he told CNBC-TV18.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

Andrew Holland of Avendus Capital sees a bright future for this industry

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Andrew Holland, CEO of Avendus Capital told CNBC-TV18 why he is optimistic on the travel industry and shared his views on other sectors such as banking.

Andrew Holland, CEO of Avendus Capital Public Markets Alternate Strategies expects the uptrend in the travel and experiences market to sustain for many more years. “….it is the very start of a long runway for the hospitality industry.” Holland said in a conversation with CNBC-TV18.

Holland noted that travel is a priority for people and they are unlikely to delay it, especially after the COVID-19 pandemic.“If you speak to all the hotel companies, margins are improving. We have got some new listings coming in as well. So I don’t see that going away. ”

In the 2024 interim Budget, Finance Minister Nirmala Sitharaman announced an allocation of ₹2,449.62 crore to the tourism sector for the next fiscal year (FY25), nearly a 45% increase over the revised figure for the current fiscal (FY24). The increased allocation reinstates the government’s focus on the tourism industry. In 2023, the allocation for the sector was trimmed to ₹1,692.10 crore from an initial estimate of ₹2,400 crore.

Under the central sector schemes, there is a rise in allocation for tourism infrastructure, which is ₹2,080.03 crore in the 2024 interim budget from ₹1,294 crore in the preceding year.

While the tourism industry was disappointed that the government did not assign hospitality the infrastructure status, experts pointed out that the initiatives towards development of airports, railways, metros and other supporting tourism infrastructure will bolster growth.

Holland also discussed his views on other sectors, saying he is cautious on commercial real estate, particularly in the United States. Holland warned that problems in the commercial real estate sector could impact market stability, similar to the situation in China’s property market.

He is cautious on banks and remains optimistic on sectors like IT, and metals.

“We expect China will do some stimulus to get the property market stabilised and that will be good for the metal industry overall on metal stocks,” he noted.

Also Read | RBI MPC Meeting 2024: Interest rates unchanged for sixth time in a row

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

Indian Metals and Ferro Alloys confident of maintaining margin above 20%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Subhrakant Panda, Managing Director of the ferrochrome producer does not expect softening of prices beyond the fourth quarter of the current financial year (FY24).

Ferrochrome producer Indian Metals and Ferro Alloys (IMFA) is confident of maintaining its EBITDA (earnings before interest, tax, depreciation, and amortisation) margin above 20%.

Subhrakant Panda, Managing Director of IMFA said that while ferrochrome prices softened during the fourth quarter FY24, he sees no room for any further softening. “If anything, there is a chance for upside,” he said.

Read Here | CNBC-TV18 Budget Ballot | Indian youth hope for a revaluation of taxation on profit from trading

Regarding expansion plans, Panda mentioned a potential delay due to administrative issues in acquiring land. Despite this setback, he assured that the company’s ore output would increase from 6.7 lakh tonnes in FY24 to approximately 7.3 lakh tonnes in the next financial year (FY25).

IMFA is exploring alternative strategies to mitigate the impact of any delays in the expansion project.

Panda highlighted IMFA’s financial stability, stating, “We are not looking at any equity raise at this point in time.” He revealed that IMFA has sufficient internal accruals and cash reserves to fund future investments without the need for additional equity or debt.

Also Read | Coromandel International to invest ₹1,029 crore to set up new plants in Andhra Pradesh

He said the production is currently at the optimum level, and hopes to end FY24 at 2.6 lakh tonnes.

The stock has risen more than 132% over the past year.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

Two reasons why this metals expert is cautious on the sector

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Rakesh Arora, Founder of GoIndiaStocks.com, believes there’s too much optimism driving the metals space, but investors are ignoring some important factors.

While a climbing dollar index, prospects for interest rate cuts next year, and China’s economic stimulus augur well for metals, Rakesh Arora, Founder of GoIndiaStocks.com, cautions that there may be too much optimism and market might be getting ahead of itself in this area.

Investors are ignoring two important factors: the expensive valuations and demand conditions for metals with companies suffering inventory pile ups and pressure on sales.

The Nifty Metal Index has clocked gains of nearly 25% in the last six months.

In the near term, Arora anticipates some pullback in the space.

This applies even to public sector metal companies that have recently played valuation catch-up with their private counterparts.

On specific stocks within the sector, he believes the worst may be over for Anil Agarwal-owned Vedanta.

There is a lot of news on the company; about its progress in managing bond repayments, its comprehensive plan to address upcoming payments next year, and also the restructuring. All this will likely provide some room for an upside in the stock, he said.

On December 14, Vedanta Resources Ltd (VRL), the UK-headquartered parent company of Vedanta Ltd, said that it has secured $1.25 billion from private credit lenders for debt refinancing and a new credit facility.
VRL also said that it has started talks with bond holders to extend the debt maturity profile of the company. It is seeking certain waivers to allow the extension of maturities.

Also Read | Vedanta Resources’ March 2025 bond returns the most in junk category this year

The company has declared a second interim dividend for the year of ₹11 per share. In financial year 2023, the mining giant gave dividends on five occasions totaling 101.50.

Vedanta shares have declined 17% year-to-date after factoring in the near 10% gains over the last month.

For the entire interview, watch the accompanying video

Also, catch all the live updates on markets with CNBC-TV18.com’s blog

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

Ferro chrome maker IMFA foresees steady margins despite Chinese downturn impacting realisations

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Subhrakant Panda, Managing Director of Indian Metals & Ferro Alloys, discussed the potential impact on the company’s earnings from the economic downturn in China.

Subhrakant Panda, Managing Director of Indian Metals & Ferro Alloys (IMFA), has indicated that the company’s earnings could be impacted by the economic downturn in China, which has led to a global decrease in stainless steel production and, consequently, a dip in ferrochrome prices.

In a discussion with CNBC-TV18, Panda noted, “If you look at where we stand in Q3 versus Q2, prices have gone down a bit more, all of this is reflective of the fact that China is going through a period of stress, there is de-growth in stainless steel production of about 1.7% or so, globally. So all of that is leading to a gradual decline in realisations for ferrochrome as well.”

However, Panda pointed out a silver lining, stating that the fall in realisations is being balanced by a drop in input costs. He remains optimistic about the company’s performance, projecting EBITDA (earnings before interest, tax, depreciation, and amortisation) margins of 20% or more for the second half of the fiscal year, which he believes will lead to a strong annual performance.

IMFA produces ferro chrome, used to make stainless steel, and has an installed furnace capacity of 190 MVA (2,84,000 metric tonnes per annum) at its two plants at Therubali and Choudwar in Odisha.

On Thursday, November 2, IMFA reported a fivefold increase in its consolidated net profit for the September quarter to ₹89.34 crore, primarily due to reduced expenses. This is a marked improvement from the ₹16.40 crore net profit of the same quarter last year. The company’s total income also saw an increase to ₹704.25 crore from ₹676.88 crore year-on-year.

The company has managed to lower its operating costs significantly, thanks to decreased expenses on inputs like thermal coal for power generation and metallurgical coke for smelting. Panda credits these reduced costs for the company’s improved margins.

He also highlighted the company’s strategic advantages, saying, “We benefit from having captive chrome ore mines, a significant strength for us. Additionally, we operate with a fully integrated setup and a debt-free balance sheet. In a scenario where interest rates are rising, these factors have combined to produce a strong set of results considering the circumstances.”

The board of the company approved an interim dividend of ₹7.50 per equity share of ₹10 each for the financial year ending March 31, 2024. It also approved the merger of Utkal Coal into Indian Metals & Ferro Alloys. The amalgamation will be implemented on receipt of requisite approvals of statutory and regulatory authorities, including the approval of the jurisdictional National Company Law Tribunal, shareholders and creditors.

IMFA has a market capitalisation of ₹2,363 crore. 

-With inputs from PTI

Also Read | IMFA MD Subhrakant Panda to succeed Sanjiv Mehta as FICCI President

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Crude oil prices surge to 9-month high amid supply cuts and China’s economic recovery, expert insights

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Crude oil prices have hit a 9 month high on expectations of additional supply cuts by major oil producers like Saudi Arabia and Russia. The prices have surged by 7 percent in the past one week alone and about 25 percent so far this year. China’s signs of economic recovery have also given a boost to crude.

Crude oil prices have hit a 9-month high on expectations of additional supply cuts by major oil producers like Saudi Arabia and Russia. The prices have surged by 7 percent in the past week alone and about 25 percent so far this year. China’s signs of economic recovery have also given a boost to crude.

Ole Hansen, head of commodity strategy at Saxo Bank, shared his insights on the current situation in an interview with CNBC-TV18. He emphasised, “The cuts from Saudi Arabia and also from Russia are certainly the main driver for the sentiment right now. Also, the demand from China is not showing any signs of peaking at this point. So, the demand outlook remains strong as well.”

China’s economic activity has long been a bellwether for the global commodity markets, and crude oil is no exception. Jonathan Barratt, chief investment officer at Probis Securities, highlighted the importance of China’s role in shaping the crude oil landscape.

He explained, “If you do see China starting to lift its game in terms of its stimulus, then that’s really going to put a bit of a shift in the demand for crude oil. And let’s look at it this way: if you just see domestic travel in China pick up by 15 to 20 percent, you are going to see a significant draw on fuel, and that’s certainly going to support prices.”

Barratt further speculated, “So, the Chinese, depending on how hard and fast they go on stimulus, I think, is also a major factor in seeing crude oil prices break through US $90, and I think in the next quarter could even head up to $100-100 plus.”

This bullish sentiment in the crude oil market comes at a time when other commodities like gold and silver are experiencing mixed fortunes. While prices of both precious metals have recently reached one-month highs, they remain under pressure due to the strengthening of the US dollar index, which has climbed back above the 104 mark.

Over the past month, gold prices have declined by approximately half a percent, and silver prices have witnessed a more substantial drop of 5 percent.

Also Read | India’s services PMI falls to 60.1 in August but exports hit record high

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index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
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This analyst says Chinese production cut to give a much-needed boost to metals & mining sector

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The interview with Vikash Singh, VP-Metals and Mining at Phillip Capital, offers a glimpse into the current state of the metals and mining industry. His preference for the ferrous segment, anticipation of Chinese stimulus, and advice regarding NMDC all contribute to a richer understanding of the market’s dynamics. In a sector as volatile as metals and mining, insights like these are invaluable for investors looking to make informed decisions.

An imminent steel production cut in China is likely to provide a much-needed boost to the Indian metals & mining sector.

Sharing some valuable insights on the sector in a recent interview with CNBC-TV18, Vikash Singh, Vice President, Metals and Mining at Phillip Capital, touched upon the role of the Chinese government in shaping the metal industry’s future.

He noted that while there haven’t been any concrete announcements from the Chinese government, there is a growing expectation of some stimulus measures there.

Also Read | Here is how the global mining landscape changed over the years: Study

Singh highlighted China’s continued commitment to maintaining steel production. This commitment is significant, as China is the world’s largest producer and consumer of steel. “China has a tendency to keep steel production intact at least if not higher on a year-on-year (YoY) basis,” Singh stated.

However, during the initial seven months, China has experienced a 2.5 percent increase, prompting the need for a 4 percent reduction in the following five months compared to the previous year. Therefore, the focus is not on an increase in demand but rather on the expected production cuts in China. This strategy aligns with the fact that Chinese mills are currently struggling to generate profits.

In the context of the Chinese production cut, Singh’s positive outlook is more on the ferrous segment of the sector.

“We are betting more on ferrous than non-ferrous segment,” he said.

“Ferrous, in the next six months would do much better than non-ferrous because non-ferrous does not have that luxury of Chinese production cuts or even a better domestic demand,” he said.

Also Read | Lloyds Metals says second quarter will be weak, but will recover by Oct-Dec period

In addition to his insights on the broader market, Singh also shared his perspective on NMDC Steel. He suggested that investors should “expect some profit booking at this price for NMDC Steel.”

Also Read | IMFA reports 17.80% drop in net profit amidst lower income and price slippage

 

 

For more details, watch the accompanying video

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Lloyds Metals says second quarter will be weak, but will recover by Oct-Dec period

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Lloyds Metals and Energy’s Managing Director, Rajesh Gupta, has provided valuable insights into the company’s quarterly performance and the broader market conditions. While the upcoming quarter might be a bit turbulent, Gupta’s optimism for a strong recovery in the following quarter and the signs of price stabilisation in international markets provide hope for the company’s investors.

Lloyds Metals and Energy, a prominent player in India’s metal industry, has recently made headlines with its insights into the upcoming quarters. In a candid conversation with CNBC-TV18, Managing Director Rajesh Gupta shed light on the company’s performance and addressed some intriguing questions.

Gupta was speaking on the sidelines of 19th Motilal Oswal Annual Global Investor Conference.

The fiscal year 2024 started on a positive note for Lloyds Metals, with a strong performance in the first quarter. Rajesh Gupta said, “Results for quarter one of the year was better, but I believe the next quarter may be a little down, and the next one — the October-December period — will be better again.”

 

One of the key takeaways from the conversation with Rajesh Gupta was the mention of signs of price stabilisation in the international markets.

“International markets have stabilised so the Indian market too is expected to stabilise soon,” he said.

This is particularly crucial for metal companies, as they are highly dependent on global market conditions. Price fluctuations can significantly impact their profitability. The notion of price stabilisation hints at a more predictable and potentially profitable future for Lloyds Metals.

And another important question that has been circulating in the market for sometime now was related to the plans of Sunflag Iron & Steel Company with its newly acquired stake in Lloyds Metals. While addressing this, Gupta stated that the company has no information regarding Sunflag’s intent with their stake in Lloyds Metals. “It (Sunflag) is not on the board, so why talk about totally imaginary things,” he said.

Gupta went on to clarify that the Sunflag merger talks are not on the anvil. He emphasised that both companies are independent entities and merger discussions are not on the horizon. “It (Sunflag) is an independent company and we’re also an independent company, that (a merger) is not on the cards at all. And we haven’t heard from them on what they wish to do with their holding,” he remarked.

For more details, watch the accompanying video

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?