Motilal Oswal initiates coverage on Bajaj Housing Finance with a neutral rating. The brokerage anticipates moderate growth and subdued return ratios. Valuations appear stretched, trading significantly above the IPO price. AUM and profit are expected to rise, but at a slower pace. NIMs may face pressure. The financier has a granular loan book with good asset quality.
Gold prices declined on MCX due to profit booking before US inflation data. October gold futures traded lower, while silver futures also showed weakness. US PPI data had previously cooled off, supporting prices. Market awaits CPI data for further direction. Geopolitical tensions and central bank buying support gold and silver. Experts suggest ranges for trading gold and silver on MCX.
Reliance Communications shares fell after receiving a show-cause notice from the Central Bank of India proposing to classify Rs 400 crore of loan accounts as fraud and report to the RBI. The company is under ongoing insolvency proceedings.
Charlie Kirk, a conservative figure, was shot at Utah Valley University. The incident occurred during a campus event. Kirk was addressing questions when the shooting happened. Panic ensued as the crowd dispersed. The shooter remains at large. The event sparked condemnation and discussions about political violence. Vigils and tributes were held in Kirk's honor. Police are investigating the incident.
Bandhan Mutual Fund's Innovation Fund has delivered impressive double-digit gains, outperforming the Nifty 500 TRI significantly since its launch. Prateek Poddar attributes this success to a long-term investment mindset, in-depth research, and diversified stock selection focused on companies demonstrating innovation through profit pool shifts and new product creation. The fund sees consumption as a key driver for future market growth.
Patanjali Foods' shares turned ex-bonus on Thursday, September 11, following a 2:1 bonus issue. Shareholders who held the stock by Wednesday's close are eligible to receive two additional shares for each share owned. While the bonus issue expands holdings, the stock's performance has been mixed, with a year-long decline contrasting recent gains over the past three months.
Attention traders! 37 million JSW Cement shares, representing 3% of equity and valued at $62 million, become available for trading today as the one-month shareholder lock-in period expires. This event, the largest among peers this month, is expected to increase liquidity but could also create downward pressure if investors choose to sell.
