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Nifty faces key levels; cautious approach advised for the week ahead (12-10-2024)
The Nifty remained range-bound in the past week, with a minor weekly loss of 50.35 points (-0.20%). Volatility also tapered down, with the India VIX falling 6.42% to 13.22. The trading range narrowed to 539.70 points. The coming weeks are crucial for the markets due to the discontinuation of weekly contracts for NIFTY Bank and FINNIFTY starting November 20.
Newgen Software (12-10-2024)
As someone who has collaborated with them in the past, I’ll demystify some of the hype around their business.
They make document management platform where you basically manage documents in digital format. It’s a highly competitive space and which reflects in Newgen’s modest margins for a product business.
As for their patents, one shouldn’t read too much into them. I have been working in the technology sector for last twenty years and can tell you that majority of the patents tend to be flimsy and used for marketing purposes.
On a big picture level, their business will do well as world is going paperless and advantage with small IT companies is the small base. So even if they don’t gain any market share, increasing segment pie will ensure the steady growth in their topline. But one should keep an eye on valuations. For 25% margins, and a commoditized product business, 70+ P/E is a bit stretched.
Disc- Identified this stock as a value buy when it was 300 in 2022 and invested.
RSS dedicated to serving country: PM Modi (12-10-2024)
Prime Minister Narendra Modi hailed RSS for its unwavering commitment to India’s service on its centenary milestone, highlighting its inspiration for future generations. Modi emphasized the role of the RSS in fostering organisational growth and ideological unity within the BJP, promoting the vision of a developed India.
Motilal Oswal Financial Services (12-10-2024)
Article ignores that fact that Motilal is more of a wealth management company than AMC, revenue from the latter being much smaller. So comparison with pureplay AMC firms is flawed and misguided.
Wealth management business is more secular and stickier and if we just look at the multiples that listed wealth management players such as Anand Rathi and Nuvama are getting, Motilal stock has got plenty of scope for appreciation.
Disc- Invested from 200 levels and accumulating at every dip.
Disproportionate action by police: Digvijaya Singh on FIR against his nephew (12-10-2024)
Congress leader Digvijaya Singh claimed his nephew Aditya Singh was unfairly booked over a minor issue by Madhya Pradesh police. An FIR was filed against Aditya and his driver for allegedly obstructing a government campaign. A viral video showed Aditya arguing with officials. Digvijaya suggested internal BJP disputes are surfacing, linked to recent events including a major drug bust in Bhopal.
Tata elxsi (12-10-2024)
I’d take a longer term view of the sector than focusing on 1-2 years. There is no industry in the world that doesn’t face a rut periodically and IT sector is no exception.
Reason IT sector is struggling is simply because of deferral in project execution from their end customers. This has been primary a result of high interest rates in their markets and slowdown in tech spending in verticals like telecom, banking etc.
It’s the same issue with MNCs like Accenture who have been reporting flat growth for last several quarters.
So when the sector gets back into upcycle we’ll see IT companies doing well again.
As another firm seeks damage for held-up rice cargo, Gujarat HC orders ‘arrest’ of SW South Wind I (12-10-2024)
Farmart’s consignment among shipments in vessel detained by DRI for ‘irregularities’ in export of organic rice