Top stock tips by Mitessh Thakkar, Sudarshan Sukhani: Bata, IRCTC, TVS and more

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

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Indian shares are likely to start Wednesday’s session on a positive note shrugging off weakness in other Asian markets. At 8:45 am, Nifty50 futures on the Singapore Exchange — an early indicator of India’s NSE Nifty50 index — were up 53.5 points or 0.32 percent at 16,656.50.

Equities in other Asian markets held near year-to-date lows as overnight losses on Wall Street reinforced worries about the economic impact of the Delta variant of Covid-19 sweeping through the region.  Although MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.19 percent after five days of losses, it was just above year-to-date lows touched in July. Chinese blue chips rose 0.21 percent and Japan’s Nikkei rose 0.35 percent.

S&P 500 E-Mini futures were little changed, indicating a flat start ahead on Wall Street. On Tuesday, the three main US indices fell after retail sales came in below expectations and valuations became increasingly stretched.

Sudarshan Sukhani of s2analytics.com

Buy Divi’s Labs for a target price of Rs 4,980 with a stop loss at Rs 4,860

Buy IRCTC for a target price of Rs 2,710 with a stop loss at Rs 2,640

Buy Asian Paints for a target of Rs 3,060 with a stop loss at Rs 2,980

Sell TVS Motor for a target price of Rs 522 with a stop loss at Rs 536

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Disclaimer: CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

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

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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

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

States to provide up to 25% discount on road tax on new purchase after scrapping old vehicle: Nitin Gadkari

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

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States will be mandated under the scrappage policy to lower the road tax by up to 25 percent on the purchase of new vehicles after scrapping an old vehicle, road transport and highways minister Nitin Gadkari has said.

Speaking at the press conference, Gadkari said that the government has communicated to the states to lower road tax in order to encourage people to scrap their old vehicles.

The states will be free to set the percentage of discount but the upper limit of the discount has been fixed by the central government.

As per the final rules which are ready to be notified, the central government has now mandated states to lower road tax by up to 25 percent for personal vehicles and lower road tax by up to 15 percent for commercial vehicles, officials added.

“We have taken a legal view in the matter. As part of the concurrent list, we are authorised to decide on the principle of taxation. So, this will be notified in the final rules, they should be out soon,” a senior government official said.

While several states are onboard the plan to lower road tax, others have shown hesitation, the official added.

ALSO READ | Vehicle Scrappage Policy will play key role in ‘Waste to Wealth’ programme, says Modi

The government plans to notify final rules of the vehicle scrappage policy by the end of September, officials said.

The much-awaited voluntary vehicle fleet modernisation program or scrappage policy was launched by the Road Transport and Highways Minister Nitin Gadkari in Lok Sabha in March of 2021.

Prime Minister Narendra Modi launched the policy on August 13 via video conference at an Investor Summit in Gujarat.

ALSO READ | How vehicle scrappage programmes in other countries have fared

The summit was organised by the ministry of road transport and highways to invite investment for setting up vehicle scrapping infrastructure under the Vehicle Scrapping Policy. It also focussed on the potential of the ship breaking industry at Alang, for development of an integrated scrapping hub.

The Vehicle Scrapping Policy is aimed at creating an eco-system for phasing out unfit and polluting vehicles in an environment-friendly manner. The policy intends to create scrapping infrastructure in the form of Automated Testing Stations and Registered Vehicle Scrapping Facilities across the country.

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

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

Oil edges lower as spread of Delta variant clouds prospects for demand

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

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Oil prices dipped on Wednesday, a fifth day of declines with investors wary about prospects for stronger fuel demand as the use of rail, air and other forms of transport remained constrained amid surging COVID-19 cases worldwide.

Brent crude was down 5 cents or 0.1 percent at USD 68.98 a barrel by 0139 GMT, having fallen 0.7 percent on Tuesday. US oil lost 6 cents or 0.1 percent to USD 66.53 a barrel after dropping 1 percent in the previous session.

“July oil demand looks pretty weak because of China’s industrial and retail slowdown, the floods there, as well as severe port congestion and a government clamp-down on the import quote of private refiners,” Henning Gloystein, energy director at Eurasia Group, said in a note.

“In India, the economic fallout of the severe COVID-19 outbreak earlier this year still weighs on the economy and consumer travel behaviour,” he added.

Also Read: Asian shares pinned at lows after Wall Street falls

India, the world’s third-biggest crude importer, also started sales of oil to state-run refiners from its Strategic Petroleum Reserve (SPR), putting in practice a new policy to commercialise federal storage by leasing out space.

A stronger dollar was also hitting commodities across the board, with metals and precious gold in particular as “equally fragile” as oil, ANZ Research said in a note.

Crude is typically priced in dollars so a pricier Greenback makes oil more expensive, hitting demand.

In the United States, more supply is set to hit the market if official forecasts prove right.

US shale oil production is expected to rise to 8.1 million barrels per day (bpd) in September, the highest since April 2020, according to the government’s Energy Information Administration’s monthly drilling output report.

Also Read: Petrol prices remain unchanged; diesel rates fall after a gap of 31 days

Crude and gasoline inventories in the United States are expected to have fallen last week, while distillate stockpiles are likely to have risen for a third straight week, an extended Reuters poll showed.

Based on the average estimates of nine analysts polled by Reuters, crude stocks dropped by around 1.1 million barrels in the week to August 13.

(Text input from Reuters)

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

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

How fuel credit cards can help you save on petrol, diesel costs

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

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Credit cards offer a significant advantage if borrowers pick up the partnership program that matches their lifestyle and spends. For example, fuel cards are great for those who put a lot of miles on their vehicle(s) for work or pleasure and need to spend a lot on petrol and diesel. Considering the high prices of fuel currently, experts believe that it could be a good way to save money.

However, users should be aware that credit card companies typically have partnerships with a specific oil corporation or have monthly limits on fees that qualify for a refund. So, a co-branded fuel card is beneficial and rewarding only if fuel spending is high.

Here are key things to consider while using fuel cards:

Use a 360-degree review approach

According to Anil Pinapala, Founder and CEO of Vivifi India Finance, borrowers should always use a 360-degree review approach while getting a card so that they understand what they are saving on that card.

ALSO READ | Key tips to manage multiple credit cards

“Consumers should also weigh in the cost of getting the card including joining fees etc before signing up for the card,” Pinapala suggests.

Stick to one company

As per Nitin Mathur, CEO, Tavaga Advisory Services, sticking to one and only one company (one co-branded card company) will reap the benefits to users.

ALSO READ | 5 good credit card habits you should know

“Generally, there is an annual fee and a joining fee attached to the co-branded fuel card. If the user spends beyond a threshold, he/she will benefit from a waiver of these joining and annual fees. Hence, spending big on fuel with only one card will help the user in saving money and winning reward points,” Mathur advises.

Consider minimum transaction as well

While transacting through specific co-branded fuel cards, Mathur tells that the user should consider the minimum transaction as well. Many times, these fuel cards offer a 1 percent fuel surcharge waiver if the transaction is above the minimum transaction threshold.

ALSO READ | Buy now pay later vs credit cards: Which is a better option?

Fill tanks frequently

Additionally, Mathur suggests users to fill the tanks frequently to earn reward points and waivers through the co-branded fuel cards.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

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

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

Coronavirus News Highlights: Received over 6,800 applications under COVID relief scheme since July 6, says Delhi govt

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

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India added 35,178 new coronavirus infections, taking the total tally of COVID-19 cases to 3,22,85,857, while the national recovery rate improved to 97.52 percent, the highest since March 2020, according to the Union Health Ministry data updated on Wednesday. The death toll climbed to 4,32,519 with 440 fresh fatalities, according to the data updated at 8 am. The active cases declined to 3,67,415, the lowest in 148 days, and comprise 1.14 percent of the total infections, the lowest since March 2020, the ministry said. Less than 50,000 daily cases have been reported for 52 consecutive days. A reduction of 2,431 cases has been recorded in the active COVID-19 caseload in a span of 24 hours. The number of people who have recuperated from the disease surged to 3,14,85,923, while the case fatality rate stands at 1.34 percent, the data stated.

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

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

Explained: What is index-linked annuity and how it works?

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

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The Insurance Regulatory Authority of India (IRDAI) has constituted a committee for the purpose of examining the need for index-linked annuities. An index-linked annuity, as the name suggests, uses a stock market index to determine gains and losses. It has the ability to set the maximum loss an investor is willing to tolerate.

What exactly is an index-linked annuity?

According to Rakesh Goyal, Director, Probus Insurance, this is an annuity that is tied to the performance of a particular market index. These annuities are like a contract between the buyers and the insurance companies.

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They are distributed and regulated in the same way as that of a fixed annuity.

How risky is it?

As per Goyal, index-linked annuity comes with some downsizing risks but it is less risky than other strategies.

How do they work?

In an index-linked annuity, investors put in the money and the interest that he/she earns is linked to the performance of an index.

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The investor can get the amount invested back along with some interest after the end of the surrender period.

How much return one can expect with these?

According to Goyal, an index-linked annuity has a floor zero which means that the consumer can even get zero interest during the downturn of the market index.

Here, the returns are linked to benchmark indices.

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Some experts believe that for the longer-term horizon, the returns are expected in the range of 10-12 percent. The fund managed under this is invested in a passively managed fund that buys and holds securities of a benchmark index.

The fund manager follows the index and does not use their own discretion.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

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

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

Asian shares pinned at lows after Wall Street falls

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

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Asian shares held near year-to-date lows on Wednesday as overnight declines on Wall Street reinforced worries about the economic impact of the Delta coronavirus variant sweeping through the region.

The dollar stayed strong against most peers, while New Zealand’s central bank held off on a widely expected decision to raise interest rates after the discovery of a Delta variant case sent the country into lockdown.

The Reserve Bank of New Zealand would have been the first G10 central bank to begin hiking interest rates but said the decision to hold was made in the context of the nationwide restrictions.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.19 percent, having fallen for the past five sessions, and traded just above year-to-date lows touched in July.

Also Read: 10 things you need to know before the opening bell on August 18

Chinese blue chips rose 0.21 percent and Japan’s Nikkei rose 0.35 percent. Taiwan stocks fell 1.09 percent.

“A narrative around the peaking of economic growth in the second or third quarter is really hitting home,” said Kerry Craig, global market strategist at JPMorgan Asset Management.

“Investors are trying balance the reopening of economies as vaccination rates go up, but also seeing the effects of the spreading Delta variant and that’s being reflected in the slowing economic data most of which has been surprising on the downside in the last two weeks,” Craig said.

China on Monday reported year-on-year GDP growth of 7.9 percent in the second quarter, below the 8.1 percent forecast in a Reuters poll of economists.

Overnight, Wall Street fell after retail sales came in below expectations and valuations become increasingly stretched. The S&P 500 lost 0.71 percent after posting a new record high on Monday.

Also Read: CNBC-TV18’s top stocks to watch out for on August 18

“In today’s market we find it’s very difficult to find undervalued stocks to recommend to investors,” said Dave Sekera, chief US market strategist at Morningstar Research Services.

US stock futures, the S&P 500 e-minis, were little changed in Asian hours, down 0.01 percent.

In currency markets, the dollar hit a nine-month high against the euro and held near recent peaks against other major currencies as COVID-19 concerns meant investors cut exposure to riskier currencies.

Oil declined further in early Asian trading after falling for four sessions thanks to the stronger dollar and worries about the rise in coronavirus cases.

US crude dipped 0.14 percent to USD 66.50 a barrel.

The yield on benchmark 10-year Treasury notes was 1.2617 percent compared to its US close of 1.258 percent on Tuesday

(Text input from Reuters)

Catch all the latest stock market updates here. 

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

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