Indian benchmark equity indices, the Sensex and Nifty, experienced their fifth consecutive decline on Friday, recording their worst weekly performance in over two years. Escalating tensions in the Middle East and rising foreign outflows contributed to investor unease. The Nifty 50 index fell 0.93% to 25,014, while the S&P BSE Sensex decreased by 0.98% to 81,688.
Manappuram Finance (06-10-2024)
Other than the excessive free float in available shares, is Promoter (cum senior management) also a key parameter for Manappuram’s under-valuation vs Muthoot.
In Manappuram, Mr. VP Nandkumar is active, whereas his next generation doesn’t seems to to be much interested and active.
Whereas in Muthoot, it seems all the family members – almost 7 George – are actively involved in business. Hence, it appears not just some but they have full skin in game.
Their aggression on business expansion (Topline Growth) is visible from this news also – Google Pay partners with Muthoot Finance to sell gold-backed loans | Personal Finance – Business Standard
Hardly any such solid move on business front from Manappuram.
SG Mart- Can it successfully create a marketplace? (06-10-2024)
SG Mart is not manufacturing – The manufacturer (Tata/JSW/NMDC/Jindal) will provide all required certificates as per grade of Steel.
They are only facilitating large scale “buying/selling – Trading of Steel, Logistical and warehousing”, may be in future other Construction material, once they scale Steel business.
An example of this can be seen in the zinc trading business where the company has already become the largest player _ Refer Concall.
They identified one key service missing in the steel (Construction) infra space and setting up building blocks – Similar services/companies in large scale exists in other parts of the world, as shared above in one of the post.
Execution and commodity price are the major risks here.
Left MLA Jaleel links gold smuggling through Karipur airport to Muslim community, sparks row (06-10-2024)
K T Jaleel, a Left MLA, caused controversy by stating that most gold smugglers through Malappuram airport are Muslims. He urged community leaders to address this issue. IUML and MLA P V Anvar criticized him, calling the statement derogatory. This controversy arose amid debates over Chief Minister Pinarayi Vijayan’s alleged comments on Malappuram.
China-focused hedge funds post explosive September returns (06-10-2024)
Goldman Sachs estimates China-focused hedge funds had best weekly performance on record By Summer Zhen HONG KONG, – Some China-focused hedge funds are reporting explosive returns in September, thanks to a sharp rebound in Chinese stocks driven by Beijing’s aggressive stimulus package.
FPIs withdraw Rs 27,142 cr in 3 trading sessions (06-10-2024)
Foreign investors turned net sellers in October, offloading shares worth Rs 27,142 crore in just the first three days of October due to intensifying conflict between Israel and Iran, a sharp rise in crude oil prices, and improved performance of Chinese markets. The outflow came after FPI investment reached a nine-month high of Rs 57,724 crore in September. Since June, Foreign Portfolio Investors (FPIs) have consistently bought equities after withdrawing Rs 34,252 crore in April-May.
Will campaign for BJP if PM Modi provides free electricity in NDA-ruled states before assembly polls: Arvind Kejriwal (06-10-2024)
Arvind Kejriwal challenges PM Modi to offer free electricity in BJP-ruled states ahead of Delhi elections, vowing to support BJP if the demand is met. He criticizes BJP’s ‘double engine’ governments for alleged corruption and anti-poor measures, predicting their fall in Haryana and Jammu and Kashmir.
Priyanka Gandhi slams govt over IMPCL ‘privatisation’ bid (06-10-2024)
Priyanka Gandhi criticised the Modi government for planning to privatise Indian Medicines Pharmaceutical Corporation Limited, suggesting the motive is to benefit select friends. She highlighted that the profitable company supports local farmers and workers, challenging the government’s purported support for Ayurveda and AYUSH.
Samvardhana Motherson, BASF India among 5 stocks that are near the buy point. Do you own any? (06-10-2024)
Samvardhana Motherson International has reported operating revenue of Rs 1,05,097 crore on a trailing 12-month basis