Granblue Fantasy Versus: Rising DLC: Here’s what we know about release date, characters and more
Granblue Fantasy Versus: Rising DLC, set for release on January 16, 2024, enriches the game with new characters and features. Cygames plans to expand the roster, keeping players eager for updates. The Deluxe character pass, priced at $34.99/£39.98, offers access to Lucilius and exclusive in-game items. The Umamusume: Pretty Derby Premium Avatar Set, priced at $12.99/£9.98, adds further customization options. Key Points
Economic TimesLarge banks looking more attractive from a 3-5 year basis: Manish Gunwani
There is a fairly significant macro improvement for India in terms of external accounts. So I do not think you can take a view that I will be in consumer or I will be in industrial or I will buy high ROE companies or I will buy low ROE companies which are cheap. Key Points
Economic TimesMotilal tweaks FY25 earnings outlook of Tata Motors, ITC and 8 other companies after Q3 show
The aggregate earnings of the companies in the MOFSL universe exceeded expectations and rose 29% year-on-year (YoY) versus an estimated 19%. Earnings for the Nifty-50 jumped 17% YoY versus an estimated 11%. Key Points
Economic TimesGold likely to remain range-bound next week
US employers added 336k jobs versus the forecast of 170k jobs in September as a two-month payroll net revision was noted at +119k. The unemployment rate came in at 3.8%, which was slightly higher than the estimate of 3.70%. Key Points
Economic TimesNifty at record high but CLSA is still underweight on India. 5 reasons why
Despite Nifty crossing the 19,000 mark for the first time with $10 billion in foreign institutional investor inflows, global brokerage firm CLSA remains cautious on Indian equities. According to CLSA, the reasons for their cautious stance include rich valuations, margin erosion, overly optimistic earnings growth expectations, the Reserve Bank of India lagging behind other emerging market central banks in policy easing, and overbought conditions in the market. CLSA believes that other emerging markets such as Brazil, Mexico, and Indonesia are better positioned for policy easing. Key Points
Economic Times
Hindalco nearly halves capex to $4.5 billion
The company has reduced capex spend earmarked for the next five years to $4.5 billion, a 43% cut, versus $7.9 billion announced a year ago, according to a report by Kotak Institutional Securities. Key Points
FinancialexpressGranblue Fantasy versus Rising: Guest character 2B from Nier: Automata added
Arc System Works drops a dynamic roster of DLC fighters for Granblue Fantasy versus Rising, headlined by the iconic 2B from Nier: Automata. The stage is set in Tokyo, where her captivating combat prowess takes center stage, promising a thrilling addition to the game's first season pass. Key Points
Economic TimesTwo fuels that power the global economy flash red in Europe
The continents demand is still critically important even in a world where traders are intently focused on the potential for supply disruptions emanating from war in the Middle East. The expected consumption drop in the two fuel types this year is well over half a million barrels-a-day versus pre-pandemic levels — not far off a Belgiums worth of overall oil usage. Key Points
Economic TimesJPMorgan sees foreign investors flocking to Indian stocks after elections
Rajiv Batra of JPMorgan Chase & Co, says global funds positioning in Indias $4.3 trillion stock market remains light and investors will use any correction as an opportunity to increase holdings. His views come as overseas flows have become more volatile ahead of the national vote amid concerns over stretched valuations. Key Points
Economic TimesUS dollar gains as strong economic data could reduce rate cuts this year
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar advanced on Thursday, boosted by data showing hotter-than-expected producer prices last month and fewer people seeking unemployment Key Points
ThePrint
Looking for bottom-up ideas in these 4 sectors: Manish Jain
Manish Jain of Centrum PMS, discusses the investment framework focused on quality, risk, and reward for sustained long-term wealth creation. The strategy is bottom-up driven, emphasizing risk versus reward and valuations versus growth. The portfolio is diversified across sectors such as auto, chemicals, NBFCs, and affordable housing. Micro-cap names and a listed vineyard company are part of the portfolio, capitalizing on the lifestyle play. The focus is on leveraging the India growth story. Key Points
Economic TimesBack in the game! After 5 years, FIIs are once again warming up to Indian midcaps
The S&P BSE MidCap Index has risen more than 20% this year, surpassing a 7.4% gain in Indias equity benchmark. It is trading at 24 times on earnings-based valuation versus 19 times for the Sensex index, according to data compiled by Bloomberg. Key Points
Economic TimesTelcos' cut in channel spends boosts margins
MNP-related trade spends have come down, with telcos now paying around ₹250-280 per port-in to retailers versus over ₹300 some months back, brokerage IIFL Securities said in a report. Likewise, commissions on new SIM activations had also dropped to as low as ₹109-to-149 per mobile connection from ₹179 a few months ago. Key Points
Economic TimesLG Energy Solution Q1 profit more than doubles, in line with forecast
South Korea's LG Energy Solution on Wednesday posted a 145% jump in quarterly profit, as the battery maker factored in subsidies from the U.S. Inflation Reduction Act and solid sales of electric vehicles (EVs) in U.S. and European markets. Key Points
ReutersReliance Retail Q4 revenues likely to cross Rs 70,000 crore
Brokerage Nomura also expects the company’s earnings before interest tax depreciation and amortisation (Ebitda) to grow 31.5% versus last year to Rs 4,872 crore, on the back of aggressive store expansion and benefits of operating leverage. Key Points
Financialexpress
Standard Chartered’s Steve Brice on UBS’ Credit Suisse deal, imminent Fed rate hike & more
The UBS deal to buy out Credit Suisse for around $3.2 billion is a positive move for the banking sector as it removes a lot of uncertainty. The expectation is that the Fed will do a 25 bps rate hike this time around. Standard Chartered is still defensive in their portfolio allocations and are overweight bonds versus equities, investment grade bonds versus high yield bonds and Asia relative to the developed market. Key Points
Economic Times