Citi maintained a 'buy' rating for LIC Housing Finance with a target of Rs 851. Nuvama upgraded Coromandel International to 'buy' with a target of Rs 2,347. Jefferies reiterated its 'buy' on KFin Technologies, setting the target at Rs 1,530.
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Industry leaders predict India's economic growth to rise to 6-7.9% for FY 2025-26, driven by technological advancements and business reforms. Key budget priorities include reducing GST on health insurance, expanding financial inclusion, and providing tax incentives for R&D and fintech innovation.
Bollywood luminaries, including Amitabh Bachchan, Shah Rukh Khan, and Hrithik Roshan, have acquired stakes in Sri Lotus Developers & Real Estate ahead of its anticipated IPO. The Mumbai-based luxury real estate developer recently raised approximately ₹407.6 crore through a private placement of shares, with prominent figures from the financial sector also participating.
ITC Hotels, now a separate debt-free entity, aims for accelerated growth with its six brands. ITC Hotels plans to increase its room capacity to over 18,000 rooms across 200 hotels by 2030 through an asset-right strategy. Managing Director Anil Chadha highlighted the focus on upscale and economy segments, and the continued importance of food and beverage in their revenue generation.
Finance Minister Nirmala Sitharaman urged industries to diversify supply chains, considering political and strategic factors beyond economics. She emphasized the need to avoid over-reliance on any single nation, seemingly referencing China, and cautioned against excessive borrowing, highlighting global conflicts and inflation as key concerns requiring international cooperation for stability.
Peter Schiff warns that Bitcoin could crash to $20,000 if the Nasdaq enters a bear market. He emphasizes the historical correlation between Bitcoin and Nasdaq declines, while also pointing out gold’s potential rise as an alternative safe haven.
India has the chance to leverage the issue of US reciprocal tariffs to negotiate mutual tariff reductions, turning a potential trade conflict into a win-win bargain. This cooperative approach could grant better access for Indian goods to the US market, while the reciprocal tariffs could otherwise lead to a harmful tariff war for both nations.
A regulatory filing on Saturday revealed that Paytm received notice from the Enforcement Directorate (ED) regarding alleged FEMA rule violations by the company and its subsidiaries - Little Internet and Nearbuy - concerning specific investment transactions.
Shares of Zomato fell by 12 per cent after a 57.2 per cent drop in its consolidated net profit for the December quarter. This decline also impacted Swiggy's shares, which fell by over 10 per cent. Zomato's revenue increased, but total expenses also surged significantly.
In November, the RBI sold $20 billion from its forex reserves to stabilize the rupee. Nomura observes that the central bank has sold $89.4 billion since October 2024, yet India's forex reserves remain adequate with a 236% adequacy ratio as of January 3, 2025. Despite a dip from a peak of 266%, the reserves remain robust.
Bitcoin experienced its first weekly decline since Trump's election win, dropping over 7% due to the Fed's cautious policy outlook. This impacted the broader crypto market, which fell about 10%. Experts predict a choppy short-term outlook but remain bullish for Bitcoin into early 2025, with a significant options expiry event expected on December 27th.