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Goldman Sachs raises Reliance Industries stock target price with ‘buy’ rating, sees 54% upside

Reliance Industries shares jumped over 3 percent on March 27 after Goldman Sachs reiterated a ‘buy’ rating on Reliance Industries Ltd, with as much as a 54 percent upside by FY26 in its bull case, citing favourable risk-reward dynamics, value unlocking from its Disney joint venture, and enhanced return on capital investments.

Tata's Auto Stock To Buy In FY25 Before Spliting: Rs 1,075 TP By Prabhudas, Rs 1,133 TP By CLSA

CLSA maintained its BUY on Tata Motors. CLSA is expecting Tata Motors' profitability to be robust, especially after its luxury-car brand Jaguar Land Rover reported an increase of 10% in volumes between January to February 2024 compared to the same period a year ago. The brokerage is expecting JLR to gain market share in the domestic passenger vehicle segment. Accordingly, CLSA has recommended BUY for Rs 1,133 on Tata Motors while maintaining its 'Outperform' rating.

Tata Elxsi stock gains on collaboration with Germany-based Dräger for critical care innovation

Tata Elxsi and Dräger, a global leader in medical and safety technology, announced collaboration to advance critical care innovation in India. As part of this collaboration, Dräger is expanding its research and development presence by establishing a new Offshore Development Center (ODC) at Tata Elxsi's facility in Pune.

HDFC Bank Stock Rises in Today's Trading Session 

HDFC Bank's stock opened at ₹1440 and closed at ₹1440.7 on the last day of trading. The stock reached a high of ₹1459.7 and a  low of ₹1440. The market capitalization is ₹1100183.24 crores, with a 52-week high of ₹1757.8 and a 52-week low of ₹1363.45. The BSE volume for the day was 1170187 shares traded. 

NBCC  overvalued by 35% ?  Intrinsic value of ₹87.92 could be fair value

 NBCC India's stock opened at ₹114.75 and closed at ₹113.5. The high for the day was ₹119.15, while the low was ₹114.5. The market capitalization stood at ₹21,429.0 crores. The 52-week high for the stock was ₹176.5, and the 52-week low was ₹30.96. The BSE volume for the day was 2,175,949 shares traded.

NEWS UPDATE : RBI announces schedule dates of six bi-monthly Monetary policy committee (MPC) reviews in 2024-25

 RBI MPC meeting schedule 2024-25: The Reserve Bank of India (RBI) has released the full schedule of the six upcoming review meetings of its all-powerful Monetary Policy Committee (MPC) for the financial year beginning April 1, 2024. It is during these reviews that the MPC, the interest rate-deciding panel headed by the RBI Governor, decides various key aspects of the country's monetary policy, including the repo rate and other policy rates, and the RBI's forecasts for macroeconomic parameters such as inflation and GDP growth.   

 RBI monetary policy meeting  schedule for  2024-25

• April 3-5, 2024
• June 5-7, 2024
• August 6-8, 2024
• October 7-9, 2024
• December 4-6, 2024
• February 5-7, 2025

What did the MPC do in February 2024 review?

In the last scheduled review of the current financial year, the MPC kept the repo rate—or the key interest rate at which the RBI lends short-term funds to commercial banks—unchanged at 6.5 per cent, in line with most economists' expectations. The RBI also implied that it might be a while before the central bank introduces interest rate cuts.

The central bank has kept the benchmark interest rate on hold for more than a year following six increases of a cumulative 250 basis points between May 2022 and February 2023.

The MPC voted 5:1 to keep the repo rate on hold while maintaining the policy stance at "withdrawal of accommodation". 

What does the RBI Governor-led MPC do and how often does it meet in a year?

The RBI, which plays a crucial role in the country's financial system by regulating monetary policy and overseeing the banking sector, normally meets six times a year to discuss and review various aspects of the economy, including the policy rates.

In these meetings, MPC members analyse economic indicators and decide on key policy rates such as the repo rate, reverse repo rate, and liquidity measures.

 Besides, the RBI Governor-led MPC also convenes any additional meetings in situations that warrant immediate action.

How do MPC meetings impact you? 

 

The MPC meetings are crucial as they set the tone for the country's monetary policy and have a direct impact on interest rates, inflation, and overall economic stability.

The decisions taken during these meetings influence borrowing and lending rates in the economy, affecting businesses, consumers, and investors. 

At each meeting, the RBI considers a host of important factors such as inflation levels, GDP growth projections, global economic trends, and domestic financial stability.

The minutes of the MPC meetings are released to the public, providing insights into the rationale behind policy decisions. This transparency enhances accountability and fosters trust in the central bank's operations.

10 Research Analysts , TV Experts barred by SEBI for stock manipulation and unfair trade practices

Securities and Exchange Board of India (SEBI) On date 08-02-2024 passed  ex-parts Interim Order against 10 individuals for manipulation of stock. SEBI Restrained above persons  from buying and selling or dealing in securities , either directly or indirectly , in any manner until further order, SEBI also mentioned to transfer  Rs. 74,129,648 to Escrow account  which was earned by unfair trade practices. SEBI also notified ZEE media corporation to comply with all electronic record related to telecast. This Is not first time SEBI opted action against Research analyst  who expresses  Expert opinion to national TV  with common agenda of Stock manipulation  and  Off loading of Shares

Summary:

·   The Securities and Exchange Board of India (SEBI) has barred 10 individuals, including market experts and guests appearing on Zee Business, from the securities market for allegedly manipulating stock prices and profiting illegally. 

·   These individuals allegedly shared stock recommendations with certain entities before broadcasts, allowing them to profit by buying and selling based on this insider information.  

·   SEBI estimates the unlawful gains at Rs 7.5 crore and has taken steps to freeze assets and prevent further manipulation.

Key Points: 

·  Individuals Barred: Kiran Jadhav, Ashish Kelkar, Himanshu Gupta, Mudit Goyal, Simi Bhaumik, and others. 

·  Nature of Allegations: Sharing pre-broadcast stock recommendations with select entities for illegal profit-sharing.

·  Estimated Unlawful Gains: Rs 7.5 crore. 

·  SEBI Actions: Barred individuals from markets, frozen assets, directed Zee Media to preserve records.

Implications: 

·    This action highlights SEBI's commitment to curbing market manipulation and protecting investors.

·   It serves as a warning to market participants against insider trading and other fraudulent activities.

·   Investors should be cautious about relying solely on TV recommendations and conduct their own research before making investment decisions.

·   Zee Business may face further scrutiny and potential penalties depending on the investigation's outcome as per SEBI order 

   

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RBI Monetary Policy Announcement: Key Considerations and Potential Implications

The Reserve Bank of India (RBI) governor Shaktikanta Das is set to announce the bi-monthly policy on Thursday, with expectations leaning towards a continued pause on the key interest rate, given that inflation persists near the upper tolerance level of 6 per cent.

What is MPC?

The Monetary Policy committee  is entrusted with the responsibility of deciding the policy repo rate to achieve the inflation target, keeping in mind the objective of growth. It consists of three external members and three officials of the RBI.

The external members of the panel are Shashanka Bhide, Ashima Goyal, and Jayanth R Varma. Besides Governor Das, the other RBI officials in MPC are Rajiv Ranjan (Executive Director) and Michael Debabrata Patra.

  

The upcoming RBI  Monetary Policy  announcement on February 8th holds significant weight, arriving shortly after the Union Budget  unveiling and amidst evolving economic dynamics. While experts largely anticipate a status quo on the repo rate, other crucial aspects like stance, growth forecasts, and liquidity measures warrant close scrutiny. Let's delve deeper into these key areas and explore their potential ramifications:

1. Repo Rate: Beyond the Number, Watch the Nuances:

Though economists widely predict no change in the 6.5% repo rate, the accompanying commentary will be crucial. Any hints towards future rate adjustments, either hawkish or dovish, can significantly sway market sentiment. A hawkish tilt could indicate concerns about persistent inflation, leading to potential tightening measures in the future.

Conversely, a dovish undertone might suggest confidence in inflation control and open the door for future rate cuts.

2. Monetary Policy Stance: From "Withdrawal" to "Neutral" – A Pivotal Shift?:

Currently, the stance reflects a "withdrawal of accommodation," signifying the MPC's focus on curbing inflation. A shift to "neutral" would signal growing confidence in the economy's stability and potentially pave the way for future accommodative actions. While not necessarily implying immediate rate cuts, it would mark a significant shift in the central bank's posture.

3. GDP Growth Target: More Than Just a Number:

The MPC's revised GDP growth forecast for 2023-24 will be keenly observed. An upward revision would reflect optimism about the economy's resilience, potentially boosting investor confidence and business activity. Conversely, a downward revision could indicate concerns about headwinds like global uncertainties or domestic challenges, tempering growth expectations.

4. Inflation Target: Balancing Act Between Growth and Stability:

The December inflation figure offered some relief, falling below expectations. However, the MPC faces a delicate balancing act.

Maintaining the current 5.4% target might prioritize containing inflation but could restrict growth potential. Lowering the target could signal confidence in inflation control and pave the way for future growth-supportive measures, but carries the risk of exceeding the revised target if inflationary pressures resurface.

5. Liquidity Measures: Tightening the Taps or Loosening the Grip?:

The RBI's stance on liquidity will critically impact borrowing costs and economic activity. Continued tight liquidity, while managing inflation,

could constrain credit flow and dampen growth. Conversely, loosening the grip could stimulate growth but reignite inflation concerns. The RBI's approach will reflect its judgment on the trade-off between these competing priorities.

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What are Sovereign Gold Bond I How to invest I Return I Lock In period

 What are Sovereign Gold Bond (SGB) ?

Sovereign Gold Bond (SGB) is an excellent option for individuals looking to invest in gold while minimizing some of the risks associated with physical gold ownership. Here's a breakdown of its key features and potential benefits:

What is a Sovereign Gold Bond (SGB)?

·   An  Sovereign Gold Bond is a government-backed bond issued by the Reserve Bank of India (RBI) in denominations of grams of gold.

·   Investors pay the issue price in cash and receive the equivalent amount of gold in units at maturity.

·   The redemption price is based on the simple average of closing price of gold of 999 purity of previous 3 working days published by IBJA.

Benefits of Investing in SGBs:

·  Safety: Backed by the Government of India, ensuring minimum risk compared to physical gold.

·  Eliminates Storage Costs: No need to worry about safekeeping physical gold or associated costs.

·  Earn Interest: Regular interest payments (currently 2.5%) are credited semi-annually.

·  Tax Benefits: Capital gains tax exemption upon maturity if held till maturity.

·  Liquidity: Exit options after 5th year on interest payment dates.