The NSE Nifty dropped 2.12%, or 546.80 points, to close at 25,250.10. The BSE Sensex fell 2.10%, or 1,769.19 points, to close at 82,497.10. This is the highest fall in a day since August 5. Apart from JSW Steel and ONGC, all other Nifty stocks closed lower on Thursday. Both indices have declined over 3% in 5 sessions.
Union Agrees to Suspend Port Strike (03-10-2024)
The International Longshoremen’s Association received a new wage offer and will halt its walkout at East and Gulf Coast ports, which began Tuesday.
Vasa Denticity aka Dentalkart – The Indian Amazon of Dental supplies ?! (03-10-2024)
How come equity shares increased by ~35 lakhs when direct securities issued are just 6.05 lakhs & 8.65 lakhs warrants?
Can someone explain the maths here?
What to Know if You Were Planning to Visit Western North Carolina (03-10-2024)
Airbnb and Vrbo have activated emergency cancellation policies in the western part of the state and other areas of the Southeast affected by the deadly hurricane.
Anant Raj Limited (03-10-2024)
(post deleted by author)
Federal Judge Clears Path for Part of Biden’s Student Loan Plan (03-10-2024)
The ruling by a judge in Georgia could be just a temporary reprieve for the plan, which still faces legal challenges in another state.
InterGlobe Aviation – Indigo (03-10-2024)
To think spicejet is going to challenge Indigo is foolishness i guess. I have been tracking spicejet for years now and i can tell you with a lot of confidence that the only thing that spicejet challenges is spicejet itself. but one thing, a cat has 9 lives. spicejet has 18. it refuses to die.
Macpower CNC Machines: Manufacturing a Strong Growth? (03-10-2024)
AGM notes attached within
Third eye: Shinde’s shocking claim, Raj Thackeray’s film aspirations, and Kejriwal’s new address (03-10-2024)
Congress leader Sushil Kumar Shinde’s claim that the late Vilasrao Deshmukh tried to oust then CM Sharad Pawar has left party members puzzled. Meanwhile, Raj Thackeray shares his thwarted ambition to become a film producer, and AAP’s Arvind Kejriwal is set to relocate to a new bungalow in Lutyens’ Delhi.
Kotak Mahindra Bank – Low Cost Liability Banking Franchise (03-10-2024)
I have been reviewing the latest presentations and annual reports, with a particular focus on the investment banking and wealth management sectors. There is currently a significant emphasis on wealth management, especially in the alternative banking space. Kotak’s annual report indicates that they manage the wealth of India’s top 51 families. Over the past decade, we’ve seen a marked increase in the number of Indians joining the millionaire and billionaire ranks, as reflected in income tax records. Given this trend, don’t you think Kotak stands to benefit significantly? With the guidance provided by Nuvama, could this bank experience a positive revaluation of its stock, or is that potential already factored into the current price? ( I havent done a SOTP analysis yet)
Moreover, brokers, asset management companies, and wealth managers have recently performed well, prompting the question of whether these factors are already reflected in share prices. I believe these elements could drive long-term growth for the stock. We are also witnessing an increase in family offices established by wealthy individuals, such as cricketers and film stars, who are actively participating in preferential offerings, startup investments, and IPOs. This trend suggests that family office activity is likely to grow significantly moving forward.
On a related note, my work and client connections have allowed me to meet several individuals on the Forbes rich list, all of whom are clients of Kotak.