Gold prices fell by Rs 150 to Rs 81,150 per 10 grams in the national capital on Wednesday in line with weak global trends, according to the All India Sarafa Association. Subdued demand from jewellers and retailers also impacted the prices, the association said. However, silver remained flat at Rs 96,700 per kg.
Posts in category All News
Tech View: Nifty forms long bull candle for 2nd day. How to trade on Thursday (06-11-2024)
Nifty’s short-term trend remains positive, with a strong breakout above the immediate resistance at 24,500 potentially paving the way for a quick move towards the 25,000 mark. Immediate support is positioned at 24,350, according to Nagaraj Shetti of HDFC Securities.
Northern Arc – Long term play (06-11-2024)
Northern Arc has bad underwriting standards, they have partnered with Uni which basically provides credit for 10-15 days interest free but later charges high interest with many hidden charges, literally every friend of mine has got credit from them with no income proof, also they have grown coz of high incentives for referrals.
EFC – Entrepreneurial Facilitation Centre (06-11-2024)
No they wont, the SM REIT will raise funds separately.
The benefit to EFC will be that the properties purchased by SM REIT will be managed by EFC at similar margins, but no risk of landlords/property availability as the SM REIT becomes the landlord.
CBI probe initiated on Rahul Gandhi citizenship issue, Delhi HC told (06-11-2024)
The Delhi High Court is examining a plea by BJP leader Subramanian Swamy seeking cancellation of Congress leader Rahul Gandhi’s Indian citizenship. The court has asked Karnataka BJP worker S Vignesh Shishir, who filed a similar PIL in Allahabad HC, to file an application for impleadment in the Delhi HC case.
Bitcoin hits record as traders bet Trump’s victory will boost crypto (06-11-2024)
The price of bitcoin hit a new high on Wednesday as investors bet that former President Donald Trump’s victory in the US presidential election will be a boon for cryptocurrencies.
Bitcoin jumped nearly 8% to a record $75,345 in early trading, before falling back to about $73,500.
Trump was previously a crypto sceptic but changed his mind and took a favourable view of cryptocurrencies ahead of the election.
He pledged to make America “the crypto capital of the planet” and create a strategic reserve of bitcoin. His campaign accepted donations in cryptocurrency and he courted crypto fans at a bitcoin conference in July. He also launched World Liberty Financial, a new venture with family members to trade cryptocurrencies.
Bitcoin is the one asset that was always going to soar if Trump returned to the White House,” said Russ Mould, investment director at AJ Bell, a British online investment platform. After touching its new high, the market is now speculating about when, not if, it will
Voltamp Transformers (06-11-2024)
For companies in capital goods space there is always lumpiness in order flow and execution which impacts the quarterly numbers, more so of small companies who have high portfolio concentration in a single product. So we won’t see a smooth linear increase in yoy numbers. From that perspective inter-quarter variations in PAT and margins shouldn’t be worrying unless there is dramatic drop or some negative commentary from the management.
Overall outlook for the transformer sector in India is still positive and Voltamp management (a very conservative one) has maintained that. They have announced CAPEX for capacity expansion and knowing their disciplined execution they wont do that just to please the market.
I believe stock has run a lot, currently quoting 2x its historical valuations so these minor disappointments in numbers are always expected to cause a decent 20-30% corrections in stock prices.
Disc- Invested and adding at corrections
ICICI Bank, Eicher Motors among 5 stocks with short covering (06-11-2024)
Short covering typically leads to a reduction in open interest and can push the stock price higher. In Wednesday’s session, five stocks experienced short covering.