Brokerages see consumption stocks doing well in new year

As Samvat 2073 winds to a close, brokerages see a variety of consumption-driven stocks doing well in Samvat 2074. But their outlook for the new year is mixed when it comes to the market’s overall performance till the next Diwali.

Auto, auto ancillaries, mid-sized banks, media and cement stocks crowd the list of Diwali top picks of brokerages.

Few brokerages have picked IT, infrastructure and pharma stocks given the sectors’ troubled past and mediocre to weaker outlook.

I will not say no to a film with Ajay: Tabu

Actor Tabu says she will not say no to a film with Ajay Devgn as that is the equation she shares with the superstar. The two actors have worked together in films like "Takshak", "Haqeeqat",

"Vijaypath", "Drishyam" and "Golmaal Again". "Ajay and I are childhood friends. It is always an added benefit to be working with him. I will not say no to a film with Ajay," Tabu said.

US dollar ends higher against rupee

The US dollar ended higher against the rupee at 65.04/05 per dollar but the pound sterling finished lower at Rs 85.69/71 at the close of the Interbank Foreign Exchange (forex) market here today.

Following are the interbank forex and RBI rates: 

(In Rs per unit) Unit Interbank RBI Reference US Dollar 65.04/05 US Dollar Rs 65.0649 Pound Sterling 85.69/71 Euro Rs 76.5423 Euro 76.43/45 Japanese Yen (100) 57.

Bajaj net slips a tad; plans exports to Oz, Thailand in H2

Bajaj Auto, which on Tuesday reported a marginal dip in net profit at Rs 1,193.6 crore in the three months to September, said it will start exporting its premium bikes to Australia and Thailand this fiscal.

The Pune-based automaker also said it is “on track” to achieve the target of selling four million vehicles, including in the overseas markets, in the current fiscal. The company attributed the fall in net income to lower sales as well as a 13.3 per cent decline in other income quarter from Rs 297.2 crore due to lower investment income.

More non-life insurers to take IPO route for capital needs

Driven by capital requirements to expand business and maintain solvency margins, the coming months may see some more non-life insurers launching their Initial Public Offering (IPO). This year turned out to be a landmark year for the insurance sector which, in a span of a few months, has seen four insurers get listed on the bourses and a few more are expected to get listed by next month. According to estimates, insurance companies are hoping to mop-up around Rs 45,000 crore this financial year.

Rupee logs 6th straight gains, jumps 19 paise to 3-week high

The rupee continued its stellar rally for the sixth-straight day and ended at more than three- week high of 64.74 a dollar, surging by 19 paise helped by extremely bullish macro indicators.

The overall forex market sentiment got a boost from upbeat export data and narrowing of trade deficit coupled with softening inflation.

The record rally in domestic equities too helped the rupee.

IndusInd deal values BFIL at 11% premium

Private lender IndusInd Bank will acquire Bharat Financial Inclusion (BFIL) in an all share deal which values India’s second largest micro finance company at 11 per cent premium. The share swap ratio is favourable for Bharat Financial Inclusion, said analysts.

Bharat Financial shareholders will get 639 shares of the bank for every 1,000 held and effectively values BFIL at Rs 15,487 crore, or Rs 1118 per share, versus its Friday close of Rs 13,897 crore or Rs 1003 per share.

Real estate stocks give handsome returns despite troubles

Real estate stocks are having a relatively decent run in the market with the BSE Realty index outperforming benchmark indices like the Nifty-50 and the Sensex by a huge margin over the past few months.

The S&P BSE Realty index has gained 40.2 per cent and 23.7 per cent over the past one year and six months, respectively, while the Nifty rose 18.6 per cent and 11.10 per cent during the same period.