📊 Daily Digest
25 Nov 2024---------------------
➣ Markets opened much higher than yesterday’s closing point. Nifty 50 has risen over 3.8% in the last 2 trading sessions.
➣ PSU bank stocks rose over 4% today. Oil & gas sector was up over 2.5%. All other sectors were up too.
➣ Global markets: US markets were up. European and Asian markets saw a mixed trend.
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News➣ iPhone production in India rose 37% annually to $10 billion in the April-October period. Out of this, iPhone exports stood at $7 billion. Production in October rose to a new monthly high of $2 billion: Business Standard.
➣ French energy company, TotalEnergies, has stopped further investment in the Adani Group. The decision will remain in place until the US court relieves the Adani Group chairperson of bribery charges. It currently has around 19% stake in Adani Green.
➣ Enviro Infra Engineers IPO has been subscribed 12.52 times. Retail subscription: 8.73 times. Open till tomorrow (26 Nov).
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Stocks Updates➣ Maruti Suzuki: reported a milestone of 30 lakh cumulative vehicle exports as of November 2024. The company accounts for around 40% of the country’s total vehicle exports since it began exporting in 1986.
➣ Vedanta: received NCLT approval to hold stakeholders' meetings regarding the proposed demerger of its various businesses (aluminium, oil and gas, power, steel and ferrous materials, and base metals businesses).
➣ InterGlobe (IndiGo): has partnered with Japan Airlines for a codeshare agreement. This means customers of IndiGo can book tickets of Japan Airline through the IndiGo website and vice versa.
➣ KEC International: received Rs 1,114 crore worth of orders from domestic and international entities. The company's year-to-date order intake is worth Rs 14,600 crore, a 50% increase compared to last year.
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Word of the Day
Gap UpA gap-up is when an index or stock's opening price is much higher than its closing price from the previous day.
The sudden increase creates a ‘gap’ in the stock chart.
Gap-up happens when there is positive news or a good earning report in stocks, etc. Some companies might announce their financial results after markets are closed.
This can cause sudden shift in investor sentiment.
On the other hand, a gap-down happens when the opening price is much lower than the previous day’s closing price.
This usually indicates a negative sentiment, unfavourable news, and weak earnings.
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6 Day Course
Theme: retirement portfolio
Day 1: Monday
Many people wonder what it would take for them to permanently retire.
There are many approaches a person can take to plan for retirement.
In this week's course, we'll look at some different ways to calculate.
Before we begin, we have to establish one fact: inflation.
With time, things get more expensive. Fighting inflation is half the battle towards making a retirement portfolio.
This is why you need to plan a much higher amount for retiring than you might think you will need.
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Featured Question
“Are IPOs always profitable or we can suffer losses?”
They are not always profitable.
In fact, losses are easily possible.
Please look at the past 10 or 20 or even 100 IPOs that took place.
You will notice a mixed bag — losses and gains.
By “profitable”, do you mean profit on the listing day?
That’s not guaranteed. Some shares list at a discount or lower price than IPO. Some end up with a gain.
If you are a long term investor, profit or loss from an IPO would depend on the long term health of the company and its business.
Always invest in IPOs based on research. Otherwise, there is a chance of losing money too.
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That's it for now. See you tomorrow! 😁
https://t.me/wealthindia_stockmarket
