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UBS has downgraded its target price for IndusInd Bank to ₹1,150 from ₹1,350, reflecting a neutral stance and a 5% cut in EPS for FY25/26. Similarly, Axis Bank and AU Small Finance Bank also saw target reductions. HDFC Bank, ICICI Bank, and Federal Bank remain top picks amid rising non-performing loan risks.Citi maintains a neutral call on Infosys with a target of ₹1,965, noting improvements in discretionary spending, particularly in the US financial services sector. Goldman Sachs favors Syngene and Neuland in the pharma sector while expressing caution on Divi’s, Gland, and Laurus.
Solana emerged as the leading ecosystem for new developers in 2024, attracting a significant share of talent, particularly from India, where 27% of its developers are based. Despite Ethereum's dominance in new code production, Solana's growth highlights a shift in global developer distribution, with Asia now leading. Meanwhile, Bitcoin maintains a steady developer base, with a notable focus on layer-2 solutions and NFTs.
On his final day as the Reserve Bank of India governor, Shaktikanta Das emphasized the transformative potential of a home-grown central bank digital currency (CBDC), the digital rupee. He highlighted India's pioneering role in CBDC development, contrasting it with the slow progress of other central banks globally. Das advised a cautious approach to implementing a system-wide CBDC, advocating for gradual introduction based on user data from pilot projects, while expressing confidence in its future role in domestic and cross-border payment systems.
Bhanu Baweja, Chief Strategist at UBS Investment Bank, indicates that India's market consolidation is ongoing, with retail investors active despite potential future declines in flows. He anticipates a stabilization in urban consumption and an improvement in rural spending, alongside a possible loosening of fiscal policies. Baweja also highlights the risks posed by Donald Trump's potential return to power, particularly regarding tariffs that could disrupt global trade, while suggesting India may remain resilient due to its insulated economy and steady domestic demand.
India's IPO market is experiencing a surge, with 298 companies raising Rs1.4tn ($16.6bn) this year, a 140% increase from last year. Predictions for 2025 are optimistic, with major players like LG and Flipkart planning offerings, but concerns about global market volatility and investor sentiment remain. Meanwhile, the CFA certification faces declining interest, particularly among Chinese students, as the Indian education system struggles to produce well-rounded finance professionals amidst technological advancements.
Krishna Institute of Medical Sciences (KIMS) has achieved an all-time high stock price of Rs 632.55 on December 10, 2024, driven by a positive healthcare outlook and strong financial performance. The company has outperformed the sector with a remarkable 1-year growth of 63.46%, significantly surpassing the Sensex's 16.72% increase. Currently, the stock is recommended as a 'Hold' and is trading close to its 52-week high, reflecting strong investor confidence and positive momentum.
Dmitry V., the former CEO of the crypto exchange WEX, was arrested in Poland on December 9, 2024, following a U.S. extradition request. He faces charges related to fraud and money laundering linked to WEX's operations, which processed over $9 billion before its 2018 collapse. This arrest marks a significant step in the ongoing investigation into his alleged criminal activities during his tenure.
DMEDL, a Special Purpose Vehicle of NHAI, has successfully raised Rs 775 crore through green bonds aimed at sustainable road development. Established in August 2020, the company is focused on financing, constructing, and operating the Delhi-Mumbai Greenfield Expressway, with plans to raise a total of Rs 48,000 crore, of which Rs 43,000 crore has already been secured.
Kedia Securities acquired a 0.52% stake in Greaves Cotton, while Creative Graphics Solutions India saw CAPRI Global Holdings purchase 4 lakh shares (1.65%) at Rs 199.91 each. Concurrently, ACINTYO Investment Fund PCC - Cell 1 sold 1.25 lakh shares (0.52%) at Rs 194.32, with the stock closing 14% higher at Rs 206.50.
Brookfield India Real Estate Trust has initiated a Qualified Institutional Placement (QIP) to raise up to Rs 3,500 crore, with a floor price set at Rs 287.55 per share. This move follows unitholder approval on November 29, 2024, and aims to reduce leverage and support general corporate purposes. Bidding for the placement starts on December 9.
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