5 Minutes Read
Newsletter | Analysts raise Reliance Industries’ TP after Q4 results; CCI’s market study on AI & more
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
From analysts turning bullish on Reliance Industries post Q4 results to CCI’s new market study on AI and competition, here are the top 11 news stories across business, global events, tech, and more.
Here are the top 11 news stories across business, global events, tech, and more —
#LatestNews⚡
Reliance Industries shares may go up to ₹3,479, say analysts after strong Q4 results
Most analysts that have coverage on Reliance Industries have raised their price targets on the Nifty 50 heavyweight after it reported a strong operational performance in the January-March quarter.
All business segments for Reliance Industries reported growth during the quarter. Revenue growth for the quarter stood at 11% from last year, while Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) grew by 14% from the year-ago period.Brokerage firm Morgan Stanley wrote in its note that it sees multiple catalysts for re-rating across verticals as the company exits its fourth investment cycle. Its net debt and capex intensity declined to the lowest in two years.
Water levels in India’s 150 key reservoirs fall below 10-year average: Central Water Commission
The overall water storage in major reservoirs and river basins across India has dipped significantly below the average recorded over the past decade, according to the latest data released by the Central Water CommissionThe water levels in 150 key reservoirs across India currently stand at 31%, a decrease from 33% last week and 35% the week before.South India is the most impacted region, with its 42 reservoirs currently at just 17% capacity. This marks the lowest water capacity observed across various regions in India.
FSSAI to conduct a broader quality check on spices brands amid MDH, Everest scrutiny: Sources
Amid reports that Singapore and Hong Kong have banned the sale of MDH and Everest spices due to the presence of ethylene oxide, sources told CNBC-TV18 that the Indian food regulator FSSAI has ordered a detailed probe not only against MDH and Everest but against all brands selling spices in India.”FSSAI has ordered a probe against all brands selling products under spice categories.
The probe will be based on random picking up of samples and then testing of samples for quality checks of products sold. Checks will be to assess whether the products sold under spices categories are as per the Indian quality and standards set by FSSAI or not,” the sources said.
Read here
#TechTalks📱
Competition Commission of India initiates market study on Artificial Intelligence and competition
The Competition Commission of India (CCI) announced on Monday the launch of a comprehensive market study focusing on the intersection of artificial intelligence (AI) and competition.
This initiative comes as part of the Commission’s mandate under the Competition Act, 2002, to promote and sustain competition while safeguarding consumer interests and ensuring freedom of trade in Indian markets.
Deepfakes of Bollywood stars spark worries of AI meddling in India election
In fake videos that have gone viral online, two of India’s A-lister Bollywood actors are seen criticising Prime Minister Narendra Modi and asking people to vote for the opposition Congress party in the country’s ongoing general
election.
In a 30-second video that shows Aamir Khan and another 41-second clip of Ranveer Singh, the two Bollywood actors purportedly say Modi failed to keep campaign promises and failed to address critical economic issues during his two terms as prime minister.
#PersonalFinance💰
The secret of sound investing: Embracing the margin of safety
In the dynamic world of finance, where success and failure are orchestrated by the unpredictable rhythms of markets, navigating a reliable path can be elusive. However, within the revered annals of investing wisdom lies a deceptively simple secret: the margin of safety. Explained by Benjamin Graham and endorsed by his famous disciple Warren Buffett, this principle transcends time, serving as a fundamental philosophy—a sturdy rope in the investor’s toolkit, guiding through the fog of uncertainty.
But what exactly is this margin of safety? Picture contemplating a tempting stock, its price flashing alluringly on the screen. The margin of safety is the gap between this seductive market price and the stock’s intrinsic value (i.e. its true worth). It acts as a special lens, unveiling the asset’s concealed worth and potential beyond the whims of the market. Investing with a margin of safety transforms buying stock into acquiring a buffer — a layer of protection against unforeseen challenges in the volatile journey of financial markets.
HDFC MF to launch manufacturing fund on April 26: Should you consider investing?
HDFC Asset Management Company (AMC), the investment manager to HDFC Mutual Fund (HDFC MF) on Monday (April 22) announced the launch of HDFC Manufacturing Fund. This open-ended equity scheme aims to unlock the potential of India’s manufacturing sector by investing predominantly in equity and equity-related securities of companies engaged in manufacturing activities, HDFC Mutual Fund said.
The new fund offer (NFO) for HDFC Manufacturing Fund will start on April 26, 2024, and conclude on May 10, 2024.
#DailyData📈
#ExpertEdge💡
How did Rahul Gandhi’s yatras strengthen I.N.D.I.A bloc’s prospects in South
Amidst the ongoing 2024 general elections in India, it’s imperative to reflect on a significant pre-election event— the two pivotal “Yatras” or long marches led by Congress leader Rahul Gandhi. The Bharath Jodo Yatra and Bharat Jodo Nyay Yatra marked a shift from social media politics to on-ground engagement for the Congress party. This transition has played a crucial role in shaping the current political landscape, especially in the Southern regions.
Despite the Bharatiya Janata Party’s concerted efforts to sway southern voters, the Congress party and its alliance, the I.N.D.I.A bloc, stand out as a formidable force in the South. Rahul Gandhi’s Bharath Jodo Yatra emerges as a key factor behind this resurgence. These Yatras not only symbolise a departure from virtual spaces but also signify a reconnection with grassroots politics, resonating strongly with voters.
India’s narrowing risk premium — what can that mean for returns in the
country’s assets
India’s risk premium indicated by its credit default swap (CDS) based on the last 5-year data (source: CMAN, Bloomberg) has narrowed in the last one decade. CDS spread is a type of a derivative product that measures the default risk. From the peak of 300 bp in 2013 (taper tantrum) it narrowed to 150-200 bp between 2014-2016. It has further, steadily come down to 70-100 bp until 2020. While Covid and Russia Ukraine war did witness a rise in risk, touching short peaks of 170 and 200, the peaks were quick to recover.
In the last one year, India’s CDS from 120 bp in March 2023, has narrowed to ~50 bp in April 2024. And it is perhaps at a historic low. While the pandemic saw a spike over 200 bp in March, 2020, it was quick to narrow to about 70 by November, 2020. While the spread once again rose to about 170 bp in the Ukraine war, it also reversed sharply and has seen a steady decline since then.
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
