Share Market News and Buzz: The Ultimate Blog for Stock Market News and Tips

Paytm, India’s leading digital payments platform, has joined hands with Shriram Finance, the country’s largest retail NBFC, to offer loans to its customers. This will help more people get access to credit and improve their financial well-being. Paytm and Shriram Finance will work together to provide loans to merchants and consumers on Paytm’s app. Paytm will use its technology and reach to connect borrowers with Shriram Finance’s products. Shriram Finance will use its lending expertise and presence nationwide, especially in rural areas, to serve customers. This partnership will benefit both Paytm and Shriram Finance. Paytm will be able to offer more financial services to its users and grow its loan distribution business. Shriram Finance will be able to tap into the digitally savvy and young generation of customers who prefer using mobile phones for their transactions. Umesh Revankar, the Executive Vice Chairman of Shriram Finance, said India has a huge demand for retail cre...

KPIL Wins New Order of Rs 1,008 Crores in T&D and Civil Business Kalpataru Projects International Limited (KPIL), formerly known as Kalpataru Power Transmission Limited, has announced that it has secured new orders/ notification of awards worth Rs 1,008 Crores in its transmission and distribution (T&D) and civil business segments. The company said in a regulatory filing on Friday that it has received new orders of Rs 635 Crores in its T&D business from domestic and international markets. The orders include projects for power transmission lines, substations, and rural electrification in India, Africa, and the Middle East. KPIL also said that it has bagged civil works orders of Rs 373 Crores for building construction in India. The orders include residential, commercial, and industrial projects across various locations. With these new orders, the company’s consolidated order inflows for the first quarter of FY24 stand at Rs 5,122 Crores. The company also said that ...

South Indian Bank and Mahindra & Mahindra join hands for dealer finance South Indian Bank, one of the leading private sector banks in India, has entered into a strategic partnership with Mahindra & Mahindra, the country’s largest utility vehicle manufacturer, to offer customized financing solutions to the latter’s dealers across the nation. The MoU was signed by Biji S.S, Senior General Manager and Group Business Head, South Indian Bank, and Baneswar Banerjee, Vice President - Sales, Automotive Division, Mahindra & Mahindra, in the presence of senior officials from both organizations. The partnership aims to provide easy and hassle-free inventory funding to the dealers of Mahindra & Mahindra’s automobiles, including passenger vehicles, commercial vehicles, electric vehicles, and farm equipment. The dealers will benefit from competitive interest rates, flexible repayment options, quick processing, and minimal documentation. Biji S.S said, “We are delighted to...

Why Pfizer, Walt Disney, Delek Logistics, and Inter are Facing Analyst Downgrades The stock market is constantly changing, and sometimes analysts revise their ratings on certain stocks based on new information or expectations. In this blog post, we will look at four big analyst downgrades that happened recently and what they mean for investors. Pfizer: Neutral from Outperform Pfizer (NYSE:PFE) is one of the leading pharmaceutical companies in the world, and it has been in the spotlight for its COVID-19 vaccine. However, Credit Suisse downgraded Pfizer to Neutral from Outperform and lowered its price target to $40.00 from $47.00, citing limited pipeline catalysts and uncertainty. The firm said that Pfizer’s recent updates on its oncology and rare disease programs were disappointing and that its growth prospects beyond 2022 are unclear. Credit Suisse also reduced its earnings estimates for Pfizer, reflecting lower revenue assumptions and higher expenses. Pfizer’s stock has be...

Zydus Lifesciences Gets US FDA’s Approval for Making Breast Cancer Medicine Zydus Lifesciences is a big company in India that makes medicines for many diseases. It has good news for people who have breast cancer. Breast cancer is a disease that affects the cells in the breast and makes them grow abnormally. It can be very dangerous and painful. Zydus Lifesciences has got approval from the US FDA to make a medicine called Palbociclib. The US FDA is a government agency in America that checks if medicines are safe and effective. Palbociclib is a medicine that helps to stop the growth of cancer cells in the breast. It is used along with other medicines to treat a certain type of breast cancer. Palbociclib is a very important medicine because it can help many people who have breast cancer. It is also very expensive because it is made by a special process. It is not easy to make this medicine. Only a few companies in the world can make it. Zydus Lifesciences is one of them. It ha...

Highlights from RBI’s Financial Stability Report - June 2023 The Reserve Bank of India (RBI) is the central bank of our country. It is responsible for keeping our money safe and stable. It also regulates the banks and other financial institutions that we use for saving, borrowing, and investing. Every six months, the RBI publishes a report called the Financial Stability Report (FSR). This report tells us how healthy and strong our financial system is. It also warns us about any risks or challenges that may affect our economy and our well-being. The latest FSR was released on June 28, 2023. It has some good news and some bad news for us. Let’s look at some of the highlights from the report. Good News: Banks are more profitable and resilient One of the main findings of the FSR is that our banks are doing well. They have improved their profitability, capital, and asset quality in the last year. Profitability: This means how much money banks earn from their business. The FSR sa...

Fed’s Powell Does Not Rule Out Rate Rise at Coming Meetings The Federal Reserve is not done with raising interest rates yet, according to its chairman Jerome Powell. Speaking at a European Central Bank conference on Wednesday, Powell said that most Fed officials still expect two more rate hikes this year, and that the possibility of raising rates at consecutive meetings is not off the table. Powell’s comments suggest that the Fed is confident in the strength of the U.S. economy and the need to keep inflation under control. The Fed has already raised rates three times since December, bringing the federal funds rate to a range of 1.00-1.25 percent. The Fed also announced plans to start shrinking its massive balance sheet later this year, another sign of monetary policy normalization. However, Powell also acknowledged that the Fed is monitoring how its rate increases are affecting the economy, and that it has not decided on the exact timing and pace of future rate moves. He sa...

US Stocks Open Lower as Chip Stocks Fall, Powell in Focus Wall Street opened lower on Wednesday, pressured by a report the US could curb sales of artificial intelligence (AI) chips to China, while investors awaited Federal Reserve Chair Jerome Powell’s speech for clues on the interest rate outlook. The Dow Jones Industrial Average fell 45.36 points, or 0.13%, at the open to 33,881.38. The S&P 500 opened lower by 10.93 points, or 0.25%, at 4,367.48, while the Nasdaq Composite dropped 49.66 points, or 0.37%, to 13,506.02 at the opening bell. Why Chip Stocks Are Falling Chipmakers Nvidia and Advanced Micro Devices fell 3.5% and 3.2%, respectively, in premarket trading after the Wall Street Journal reported the Commerce Department could stop shipments of chips made by these companies to China as early as July. Semiconductor stocks including Intel, Marvell Technology and Qualcomm fell more than 1% each. The report said the US government is considering adding more than a doze...

Phantom Digital Wins OTT Order from Netflix Worth 120 Crores Phantom Digital, a leading over-the-top (OTT) content production and distribution company in India, has bagged a lucrative order from Netflix, the global streaming giant, worth 120 crores. The order is for creating original content for Netflix’s Indian audience, across genres and languages. What is OTT Content? OTT content refers to any audio or video content that is delivered over the internet, without the need for a cable or satellite subscription. OTT platforms allow users to access a variety of content, such as movies, shows, documentaries, sports, music, and more, on-demand and across devices. Some of the popular OTT platforms in India are Netflix, Amazon Prime Video, Disney+ Hotstar, Zee5, SonyLIV, Voot, MX Player, ALTBalaji, and more. According to a report by PwC, India’s OTT market is expected to grow at a compound annual growth rate (CAGR) of 28.6% from 2020 to 2024, reaching $4.5 billion by 2024. Why Phantom Digital...

BEML Gets Big Order of 380 Crores from Indian Railways BEML Limited is an Indian company that makes heavy machines for moving earth, railways, transport, and mining. The company is in Bangalore and has factories in Kolar Gold Fields, Bangalore, Mysore, and Palakkad. The company also makes things for defense and aerospace and has a license to make things for the Indian Army and Navy. The company has said that it has got a big order of 380 crores from the Indian Railways for giving 20 sets of trains with 8 wheels each. The trains are made of stainless steel and are called MEMU (Mainline Electric Multiple Unit). The order was given by the Railway Board under the Make in India plan. The MEMU trains can go fast at 130 kmph and can carry 2,400 people. The trains have new things like cameras, GPS, fire system, braking system, and doors that slide. The trains are also good for the environment and save energy, as they make less smoke and use less fuel. The order will help BEML make ...

Sheela Foam Shares Surge 7% on Kurlon Acquisition News Sheela Foam Ltd, the maker of the popular Sleepwell brand of mattresses, has announced that it will acquire its rival Kurlon Enterprise Ltd for a cash consideration of Rs 3,250 crore. The deal is expected to be concluded within a couple of months and will help Sheela Foam consolidate its position as the market leader in the passenger rolling stock segment in India. Sheela Foam Sheela Foam is a leading manufacturer of mattresses, home comfort products, furniture cushioning, and other foam-based products. The company was established in 1971 and has a pan-India presence with over 100 distributors and 5,000 dealers. The company also exports its products to over 25 countries across Asia, Africa, Australia, and Europe. Kurlon Enterprise is the second-largest player in the mattress segment in India, with a market share of around 15-20%. The company was founded in 1962 and has a strong presence in the southern and eastern regio...

Titagarh Rail Systems Titagarh Rail Systems Secures a Huge Order from Gujarat Metro Rail Corporation Titagarh Rail Systems, formerly known as Titagarh Wagons Limited, is a leading Indian private manufacturer of railway coaches, wagons, naval ships, commercial vessels, and many other products related to defense hardware. Established in 1997, the company is headquartered in Kolkata, West Bengal, and has a global presence through its subsidiaries in Italy and France. The company has recently announced that it has secured a huge order worth 857 crores from Gujarat Metro Rail Corporation (GMRC) for the supply of 102 metro coaches. This is the second order for metro coaches that Titagarh has received from GMRC, after the first order of 96 coaches in 2019. With this order, Titagarh has consolidated its position as a leading supplier of passenger rolling stock in India. The company has also bagged orders for metro coaches from Pune Metro Rail Corporation and Uttar Pradesh Metro Rai...

CHEMCON: A Proxy Play to Semiconductor Theme Semiconductors are the backbone of the digital economy, powering everything from smartphones to laptops to cars. The global semiconductor market is expected to grow at a compound annual growth rate (CAGR) of 8.6% from 2020 to 2027, reaching $803.15 billion by 2027, according to a report by Grand View Research. However, the semiconductor industry is facing a severe supply crunch due to rising demand, limited production capacity, and geopolitical tensions. This has created an opportunity for companies that provide raw materials and chemicals for the semiconductor manufacturing process. One such company is CHEMCON Speciality Chemicals Ltd., an India-based manufacturer of specialty chemicals that are used in the pharmaceutical and oilfield industries, as well as in the semiconductor fabrication process. CHEMCON is a proxy play to the semiconductor theme for the following reasons: It is the only manufacturer of hexamethyldisilazane (H...

Tata Motors SEBI Approves IPO Plans for Tata Technologies: What You Need to Know Tata Motors , one of the leading automobile manufacturers in India, has announced its intention to partially divest its stake in its subsidiary Tata Technologies, a global product engineering and digital services company, through an initial public offering (IPO) route. The company has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for the IPO, which is expected to hit the markets in the next five to six months. Tata Technologies IPO What is Tata Technologies? Tata Technologies is a unit of Tata Motors that offers product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (OEMs) in the automotive, aerospace, and industrial machinery sectors. The company has a workforce of over 11,000 employees spread across 18 global delivery centers. It has a strong presence in North America, Europe, and ...

India’s Ambitious Goal: 500 GW of Green Power by 2030! India is one of the world’s fastest-growing economies and also one of the largest consumers of electricity. With a population of over 1.3 billion people and a rising demand for energy, India faces the huge challenge of meeting its energy needs while reducing its carbon footprint and combating climate change. That’s why India has set an ambitious goal of achieving 500 GW of installed electricity capacity from non-fossil fuel sources by 2030, which would make it one of the global leaders in green energy. This goal is part of India’s commitment to the United Nations Framework Convention on Climate Change (UNFCCC) and its pledge to reduce its emissions intensity by 33-35% by 2030 from 2005 levels. But how does India plan to achieve this goal? What are the benefits and challenges of transitioning to green power? And what are the opportunities for investors, developers, and consumers in this sector? Let’s find out! How India ...

Asian Paints Acquires Additional Stake in White Teak: What It Means for the Company and the Industry Asian Paints, India’s largest paint company, has acquired an additional 11% stake in White Teak, a home decor company that specializes in decorative lighting, for Rs 54 crore. This brings Asian Paints’ total stake in White Teak to 60%, making it a subsidiary of the company. The remaining 40% of the equity share capital will be acquired during FY26 for a maximum consideration of Rs 360 crore. This acquisition is part of Asian Paints’ strategy to diversify its product portfolio and enter new segments of the home improvement market. White Teak was founded in 2014 by brothers Pawan and Gagan Mehta and has grown rapidly to become one of the leading players in the decorative lighting segment. The company offers a range of products such as chandeliers, floor lamps, table lamps, wall lights, ceiling lights, and accessories through its online platform and offline stores. Why Decorati...

Steel Strips Wheels: A Hot Stock to Watch Out for in the Auto Sector Steel Strips Wheels (SSWL) is a leading manufacturer of steel and alloy wheels for various segments of the automobile industry. The company has been delivering strong performance in terms of revenue, profitability, and exports, making it a hot stock to watch out for in the auto sector. Record High Share Price SSWL’s share price hit a record high of Rs 208.80 on June 26, 2023, surging 9 percent on the BSE in intra-day trade amid heavy volumes. The stock has gained 41 percent in June so far, outperforming the S&P BSE Sensex which is up less than 1 percent during the same period. The share price rally is driven by the hopes of healthy volume growth as the company reported a 9.84 percent year-on-year (YoY) increase in net turnover to Rs 357.27 crore in May 2023. The company also recorded the highest-ever 225 percent YoY growth in exports by volume in the last 12 months. Diversified Product Portfolio and Cu...

India is set to welcome its first semiconductor plant as US-based Micron Technology announced its plans to invest up to $825 million in a chip assembly, testing, and packaging facility in Gujarat. The project, which is expected to start construction in 2023 and become operational by 2024 end, will produce dynamic random access memory (DRAM) and NAND flash modules for various applications. Why is this a big deal for India? India has been lagging behind in the semiconductor industry, which is dominated by countries like China, Taiwan, South Korea, and the US. Semiconductors are essential components for various electronic devices, such as smartphones, computers, cars, medical equipment, and more. However, India relies heavily on imports to meet its domestic demand, which makes it vulnerable to supply chain disruptions and price fluctuations. The global chip shortage, which has been exacerbated by the COVID-19 pandemic, has highlighted the need for India to develop its own semi...

Bank of England raises rates by 50 bps to 5%, highest since 2008 The Bank of England (BoE) surprised the markets and economists by raising its main interest rate by a bigger-than-expected half a percentage point on Thursday, June 22, 2023. The move, which is its biggest rate increase since February and takes the rate to its highest since 2008, was decided by a 7-2 vote by the Monetary Policy Committee (MPC). The BoE said that there had been “significant” news suggesting British inflation would take longer to fall and that “second-round effects” in domestic price and wage developments generated by external cost shocks were likely to take longer to unwind than they did to emerge. The rate hike comes amid a challenging economic environment for Britain, which has been hit by the shock of Brexit, the COVID-19 pandemic and the surge in gas prices caused by Russia’s invasion of Ukraine. However, the BoE said that the economy had dodged a widely expected recession so far in 2023 an...