India's GST Council to mull exempting distilled alcohol used to make liquor from tax - source
India's Goods and Services Tax (GST) Council will discuss exempting distilled alcohol used to manufacture liquor from the indirect tax at its meeting on Oct. 7, according to a source. Key Points
ReutersTo deal with event risk: 5 largecap stocks from different sectors with upside potential of up to 38%
While the whole market has been in a bull run, there are some companies, which have been facing some headwinds due to micro and macro issues. But because they are large companies with experience and history of dealing with headwinds, these companies stay down for a long period. Which is the reason why the analyst scores have seen an improvement and have moved from negative to neutral territory or from neutral to positive one. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks which fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate the stock market. Key Points
Economic TimesIs sticking to largecaps a better option in earnings season? 4 stocks with potential to rise up to 27%
On the list is an insurance major which after coming under pressure post budget has seen an up move, on the score it has moved from negative side to neutral one. Also on the list is a company from Adani group, it gets maximum coverage from analysts and has moved from negative to neutral territory score. These companies have come on the list because their scores have inched up and also their prices have moved up in the last one month. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists down stocks which fulfill the various criteria as specified into the algorithms & filters. Key Points
Economic TimesHot Stocks: UBS upgrades Infosys & downgrades Wipro; JPMorgan upgrades TCS
TCS has a neutral rating, but UBS raised the target price to Rs 4,050 from Rs 3,700 earlier. HCL Technologies has a neutral rating, but the target price was raised to Rs 1,540 from Rs 1,350 earlier. Key Points
Economic TimesBank of Baroda shares rise on strong Q4 earnings. What should you do now?
Bank of Baroda's shares increased after reporting strong Q4 earnings, with CLSA, Kotak Institutional Equities, and Motilal Oswal rating the lender as a 'Buy'. Meanwhile, Macquarie stood neutral after the Q4 report. The net interest income for the quarter rose by 33.8% to Rs 11,525 crore, with a YoY growth of 26.8% at Rs 41,355 crore for FY23. However, analysts have warned that RoEs are reliant on credit costs, and MOSL has cautioned that further ECL provisioning is required. Key Points
Economic Times
Why did the RBI shift to neutral? The predictions for the future
The Reserve Bank of India's Monetary Policy Committee has kept the repo rate unchanged at 6.5% but shifted to a neutral stance. This change allows flexibility in tackling inflation while supporting growth. Economists suggest a potential rate cut in the future if inflation risks subside and growth remains resilient, with December 2024 being a likely timeline. Key Points
Economic TimesOver 7,000 women personnel serving in Army: Govt
Bhatt said employment in the Indian armed forces is gender neutral. There is no distinction in the deployment and working conditions of male and female soldiers in the arms and services in which they serve, he said. Key Points
Economic TimesOne Last Time: Is RBI MPC setting the stage for rate cuts soon?
RBI MPC October Meeting: The Reserve Bank of India shifts to a neutral stance while maintaining the repo rate at 6.5%. Experts anticipate a possible rate cut in December. The focus remains on controlling inflation and supporting growth amidst resilient economic conditions. Key decisions also include updates on GDP, inflation, and financial regulations. Key Points
Economic TimesRBI may shift policy stance to neutral by June: Nomura
The core inflation for December came at 3.8 per cent, the note said, adding that the annualized growth of super-core inflation has dipped below 3 per cent by its estimates which is a positive surprise . For January, the headline inflation is likely to cool-off to about 5 per cent, while the core is pegged at 3.5 per cent. Key Points
Economic TimesWeekly Top stock Picks: 5 stocks with consistent score improvement and upside potential of up to 45%
The stocks which enjoy a high growth potential and having at least a neutral market outlook with the latest overall average score of 4 and above are considered for selection. The average score of Stock Report Plus is based upon five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. Key Points
Economic Times