New York (CNN Business) The stock market is like that old slogan for Timex watches. It takes a licking but keeps on ticking. Sure, it's been a rocky start to the year on Wall Street following a stellar 2021. The Dow is down about 1% and the S&P 500 has fallen 2%. Trading has been volatile. But the Dow and S&P are still each just 3% below their all-time highs. Tech stocks have had a bit more of a wild ride. The Nasdaq is down 5% in 2022 and nearly 8% under its peak, putting it closer to a 10% drop known as a correction. Yet every time it looks like stocks could be heading for an even steeper drop, investors come rushing back in to buy the dips. Traders have so far mostly shrugged off temporary concerns about inflation and the Federal Reserve getting ready to raise interest rates , as well as fears over the impact that the Omicron variant of Covid-19 may have on the economy. Earnings growth has remained strong in spite of these … [Read more...] about Here’s what could rattle the stock market this year
Share prices of Rivian Automotive ( NASDAQ:RIVN ) briefly fell to $75.13 per share on Friday before closing the session at $79.95 per share. It was the first time Rivian stock dipped below its initial public offering (IPO) price of $78 per share. The sell-off marks over a 55% drawdown from the stock's all-time intraday high of $179.47 per share set on Nov. 16, 2021. Here are arguments for and against buying the electric vehicle (EV) stock now. Image source: Rivian Automotive. Take advantage of inefficient markets Howard Smith : Markets aren't always efficient, and that's how investors can gain an advantage. While Rivian shares have dropped recently in concert with many high-growth tech names, one of the biggest dips came with the news that Amazon ( NASDAQ:AMZN ) was starting a partnership with Chrysler parent Stellantis ( NYSE:STLA ) to supplement its supply of electric delivery vans. Prior to this news, investors only knew that Amazon -- an early … [Read more...] about Rivian Stock Just Fell Below its IPO Price of $78 Per Share: Time to Buy?
File image of HDFC Bank PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook HDFC Bank (CMP: Rs 1,545; M Cap: Rs 856,439 crore) posted a strong performance in the third quarter of FY22 (Q3 FY22), maintaining consistency. Net profit increased by 18 percent year on year (YoY) in the quarter, aided by lower provisions/credit costs. Healthy loan growth and improved asset quality were the key positives. They were partially offset by weak margins and fee income. Though margin was stable at 4.1 percent in Q3FY22, it stood at the lower end of the... … [Read more...] about HDFC Bank Q3: Strong on lower provisions; can the stock bounce back in 2022?
Share to Twitter Share to Linkedin Reliance Industries , a conglomerate controlled by Asia’s richest businessman, Mukesh Ambani , has signed an MoU with the government of Gujarat state to invest 5.9 trillion rupees ($80 billion) in green projects, according to a company announcement to the National Stock Exchange of India. The investments would, if carried out, make the western state achieve net-zero carbon emission by 2035. The announcement indicates that Ambani has increased its ambition for investing in green projects. In June, it said it planned to invest $10 billion in renewable energy. To help make Gujarat net-zero carbon, Reliance proposes to invest five trillion rupees ($67.4 billion) in the state over 10 to 15 years to set up a 100 gigawatt renewable energy power plant and green hydrogen eco-system development. The firm will develop an eco-system for assisting small and medium enterprises (SMEs) and encourage entrepreneurs to adopt new … [Read more...] about Indian Billionaire Mukesh Ambani’s Reliance Industries To Invest $80 Billion In Renewable Energy Push
While nine midcaps are expected to be re-classified as large-caps in Association of Mutual Funds in India (AMFI)’s upcoming semi-annual review for the first half of 2022, new-age platform stocks like Zomato, FSN E-commerce, Paytm and PB Fintech will steal the limelight as they are expected to enter the large-cap category just months after getting listed. Zomato and Nykaa-parent FSN E-commerce alone boast market capitalisation of over Rs 1 lakh crore each whereas Paytm and PB Fintech have market cap of over Rs 88,000 crore and Rs 44,000 crore, respectively. Edelweiss Alternative Research estimates midcaps like Mindtree , SRF , IRCTC , Tata Power , Mphasis , Godrej Properties , Bharat Electronics , JSW Energy and Macrotech Developers will also be included into the large-cap category in the upcoming review. These stocks have risen anywhere between 20 and 110 percent over the past six months. Catch all the live market action here The official list by … [Read more...] about Zomato, Nykaa, Paytm, PB Fintech may enter large-cap club in AMFI’s semi-annual review
HCL Tech | Representative image Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Shares of HCL Technologies Ltd declined nearly 6 percent on Monday after the company reported lower-than-expected earnings before interest and taxes and reduced lower-end margins guidance by its management. The stock hit a low of Rs 1,255.10 on the BSE, down 6 percent, intraday. At 9.17am, it was trading at Rs 1,276 on the BSE, down 4.6 percent from its previous close. EBIT margin for the quarter stood at 19 percent which was lower than what analysts had projected. This was impacted due to a 220 basis points on-quarter decline in IT services and 70 basis points QoQ fall in engineering R&D. The management reiterated its double-digit dollar revenue growth guidance (including P&P growth of 0-1 percent YoY), but reduced its margin guidance to … [Read more...] about HCL Tech shares shed 6% on lower earnings, reduced margin outlook
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × HDFC Bank's share price rose marginally in early trade on January 17 after the private sector lender reported results for the quarter ended December. The bank on January 15 clocked standalone net profit of Rs 10,342 crore for the quarter, up 18 percent year-on-year, backed by decline in bad loan provisions. Net interest income, the difference between interest earned and interest expended, climbed 13 percent to Rs 18,444 crore, with net interest margin at 4.1 percent, and credit growth clocking a healthy 16.4 percent. Profit and net interest income grew 17 and 4.3 percent respectively on a sequential basis. Catch all the market action on our live blog Close Here is what brokerages have to say about the stock and the company: Macquarie The research house has kept … [Read more...] about What should investors do with HDFC Bank after Q3 earnings; buy, sell or hold?
AFP Hong Kong, China ● Tue, January 18, 2022 2022-01-18 10:49 0 64f7358acd6d41b8ebacf913f4b972c3 2 Markets global-markets,Asian-market,stocks,oil-price Free Most Asian equities rallied Tuesday and Brent crude hit a more than seven-year high as optimism over the global recovery returned to trading floors, though concerns about the end of long-running central bank support tempered sentiment. After an almost uninterrupted rally from the dark early days of the pandemic, world markets are showing signs of levelling out as global finance chiefs shift from economy-boosting largesse to measures aimed at reining in inflation. Still, there is an expectation that stocks will continue to enjoy further gains this year as countries reopen and people grow more confident to travel, especially as studies suggest the now more prevalent Omicron coronavirus variant appears to be milder and as vaccines are rolled out. Analysts are also keeping an eye on the corporate … [Read more...] about Asian markets rise, Brent at highest since 2014 on recovery hope
- A + A (Jan 17): Unilever Plc would need to raise its bid for GlaxoSmithKline Plc’s consumer health-care unit by about 7.3 billion pounds (US$10 billion) to have a hope of winning the backing of GSK’s board, according to analysts, traders and brokers polled by Bloomberg News. A bump to 57.3 billion pounds is needed, based on the average estimate from 11 analysts, traders and brokers in Bloomberg’s informal survey, with predictions ranging from 54 billion pounds to 65 billion pounds. Glaxo, which said in December it would spin off the business, rejected three bids from Unilever, with the last at about 50 billion pounds. While Unilever could increase its offer to about 55 billion pounds, “we are very doubtful this will be sufficient to persuade the GSK board or GSK investors,” analysts at Citigroup Inc. wrote in a report Monday. The stock component of the offer, plus the tax bill that Glaxo would face on the cash proceeds, are among the reasons it may not go for the … [Read more...] about Unilever needs seven-billion pound bump to win Glaxo unit, analysts say
- A + A (Jan 17): Analysts are denouncing Unilever Plc’s 50 billion pound (US$68 billion) offer for GlaxoSmithKline Plc’s consumer health business in unusually strong words. In a barrage of Monday morning notes, analysts criticized Unilever for pursuing the deal, saying it doesn’t make sense and would come at an eye-watering valuation. Consumer health isn’t a high-growth industry and Unilever has a bad track record for big deals, said Bruno Monteyne at Bernstein. “We can’t imagine many things that would unnerve us more about Unilever than acquiring GSK consumer health,” wrote James Edwardes Jones at RBC Capital Markets in a note titled “Please Don’t.” Unilever has no overlap with two-thirds of Glaxo’s consumer health business and little experience in regulatory issues for medical and clinical products, said Edwardes Jones at RBC. “We had been considering whether the time was ripe to abandon our underperform rating,” he added. “We’re not any more.” Investors … [Read more...] about ‘Please don’t:’ analysts scorn Unilever’s takeover ambitions