India is the fastest growing major economy in the world today and be it manufacturing or service sector, the world is considering India as a preferred place for investment, Prime Minister, Narendra Modi stated in his address at the latest Kautilya Economic Conclave in New Delhi. Organized by The Institute of Economic Growth in partnership with the Ministry of Finance. He added that currently India is the fifth largest economy in terms of GDP. Shri Modi highlighted that today, India is number one in terms of global FinTech adoption rate as well as in terms of smartphone data consumption. He said India is number two in the world in terms of internet users while nearly half of the world’s real-time digital transactions are happening in India.
Titan shares drop, but brokerages remain optimistic about outperformance across segments (07-10-2024)
Domestic brokerage Emkay Global has recommended ‘buy’ rating on Titan Company at a revised target price of ₹4,400
Selan Oil Exploration (07-10-2024)
Selan : Sept 24 AGM notes
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Business overview
a. 70% volume is from oil and 30% is from gas
b. Field wise – approx. 60 -65% of sales volume is from Bakrol , while 30% is from Karjisan. Lohar has smaller contribution
c. Confident of delivering on the guidance for full year (30 to 35% higher avg sales than FY 24) -
Bakrol field
a. Drilled 6 wells in Bakrol. Production from these wells is as much as that from all other older wells
b. Looking to drill more wells in Bakrol
c. Extension sought for Bakrol. to drill beyond 2030. EC process is on -
Karjisan
a. Should see ramp up of gas production from the field
b. Commercial gas sales to a new gas buyer has commenced in Q2 FY 25 -
Lohar field
a. Focus on opex reduction to continue and on sustaining production levels
b. Extension sought for Lohar beyond 2030 -
Duarmara (in Assam) – On track to commence drilling by end of FY’25
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Elao field – more of an opportunistic acquisition. Not supposed to have a big contribution to volume
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Macro view
a. Seeing a lot of support from the Govt; as we move from offshore to onshore drilling
b. No impact of Windfall tax cut as company doesn’t come under ambit of windfall tax
c. Gas prices continue to be robust
d. Expecting gas to play a big role in decarbonizing ; bigger portion of Antelopus would also be gas
Disc: Invested
Godrej Consumer stock price down 0.59 per cent as Sensex slides (07-10-2024)
As of 30-Jun-2024, promoters held 63.01 per cent stake in the company, while FIIs held 22.42 per cent and domestic institutional investors had 5.89 per cent.
Market set for sideways consolidation; froth & overvaluation signal possible correction: Vikas Khemani (07-10-2024)
Many stocks have corrected 30-40%. So, all those things are quite possible. It is happening and I think that is good and healthy for the market from a long-term perspective.
India and Germany look to strengthen cooperation in field of sustainable development and renewable energy (07-10-2024)
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Tata Steel reports mixed Q2 production results amid UK operational shifts, shares plummet (07-10-2024)
Tata Steel India successfully commissioned India’s largest blast furnace at Kalinganagar in September, increasing the country’s crude steel capacity to 26.6 MTPA
Share price of Vedanta falls as Sensex gains 27.71 points (07-10-2024)
Promoters held 0.0 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 12.61 per cent and 6.72 per cent, respectively.
Coforge gains 2%, hits record high on Rs 19 per share interim dividend (07-10-2024)
The company has fixed October 11, as the record date to ascertain the eligibility of shareholders for the payment of the second interim dividend.