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The one-hour <keyword id="23618998" type="General" weightage="100" keywordseo="Muhurat-trading" source="keywords">muhurat trading</keyword> session, which marks <keyword id="20963892" type="General" weightage="20" keywordseo="Diwali-2024" source="keywords">Diwali 2024</keyword> and the onset of Hindu Samvat 2081 on both NSE and BSE, is set to commence at 6 pm today and will conclude at 7 pm. Generally, investors and traders make symbolic stock buys during this hour-long session, since it is believed that purchases made during this time herald wealth and prosperity for one’s investments for the year to come. If you are looking for <keyword id="19910146" type="General" weightage="20" keywordseo="stock-recommendations" source="keywords">stock recommendations</keyword> to add to your portfolio, here are a few value picks by SAMCO and Kotak Securities you can consider: <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> Ltd Holding period: 1 year Last Traded Price: Rs 1,734.30 Per the firm, “The bank has maintained a robust 10-year profit CAGR of 21.74%, operating with a NIM (net interest margin) of 3.5% and a low net NPA (non-performing assets) of 0.3%. Advances and deposits have shown steady growth. Currently, the stock trades below its 10-year average price-to-book value and at a price-to-earnings ratio of 19, offering a favorable risk-reward profile with a substantial downside buffer”. <keyword id="22086440" type="General" weightage="20" keywordseo="Vindhya-Telelinks" source="keywords" meta.keywordsubtype="org" meta.entityname="Vindhya Telelinks" meta.hostid="261" meta.entityid="Vindhya Telelinks">Vindhya Telelinks</keyword> Ltd Holding Period: 1 year Last Traded Price: Rs 1,992.55 SAMCO notes that this key cable manufacturing, which is a joint venture between Universal Cables Limited and Madhya Pradesh State Industrial Development Corporation, has shown robust growth over the last 5 years, nearly doubling revenues with a 14.3% CAGR. The company holds significant investments in Birla Cable Ltd, Birla Corporation Ltd, and Universal Cable Ltd, totaling Rs 3,618 crore—surpassing its market capitalization of Rs 2,545 crore. This solid investment base underscores Vindhya Telelinks’ strong fundamentals and financial potential. <keyword id="23763358" type="General" weightage="20" keywordseo="Ramco-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Ramco Industries" meta.hostid="261" meta.entityid="Ramco Industries">Ramco Industries</keyword> Ltd Holding Period: 1 year Last Traded Price: Rs 244.89 SAMCO observes that over the past decade, sales grew at a 7% CAGR, while the share price rose at a 14% CAGR. Known for its financial stability, Ramco Industries boasts a low debt-equity ratio of 0.07 and has consistently paid dividends since FY17, currently yielding 0.31%. The stock’s attractive price-to-book multiple of 0.5 offers a solid margin of safety, highlighting its investment appeal. <keyword id="22786675" type="General" weightage="20" keywordseo="Gravita-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Gravita India" meta.hostid="261" meta.entityid="Gravita India">Gravita India</keyword> Holding Period: 12 months Last Traded Price: Rs 2,119 Kotak explains that Gravita India is the market leader in India’s emerging recycling industry with a focus on lead recycling. Gravita India is increasing its recycling capacity by a massive 72% to 500 ktpa by FY27E. “We expect the company’s earnings per share to grow by 31.8% in FY25E &amp; 31.6% in FY26E. We also expect an upside of 15% or more on this stock over the next 12 months”, adds Kotak’s note. <keyword id="23763359" type="General" weightage="20" keywordseo="S-H-Kelkar" source="keywords" meta.keywordsubtype="org" meta.entityname="S H Kelkar" meta.hostid="261" meta.entityid="S H Kelkar">S H Kelkar</keyword> and Company (SHKL) Holding Period: 12 months Last Traded Price: Rs 289.90 The company is a flavors &amp; fragrances (F&amp;F) supplier and has started to make inroads into the global market. SHK is well-placed to drive double-digit revenue growth. The company is a small but emerging contender in the vast F&amp;F market, with potential for margin expansion—higher-margin geographies &amp; operating leverage—allowing for over 15% return upside in the next 12 months. Kotak Securities further notes that FY25 will likely see more broad-based growth across sectors. However, the OMCs (oil marketing companies) may likely drag down overall profits. Most sectors and stocks are quite overvalued, with the degree of overvaluation ranging from: (1) low for most large-cap consumers, IT services, and pharmaceuticals (2) medium in the investment space (3) high in the case of several low-quality companies. "As the broader market valuations are rich, opportunities arising from market correction can be used to add quality stocks (with attractive valuations) from a long-term investment perspective," explains the research firm's note. SAMCO further advises adding a little glitter to your portfolio using GoldBees and SilverBees ETFs since there are recessionary fears in the US and geopolitical tensions across the world. Even central bankers like RBI have been adding gold to their vaults like never before. At present, markets are looking to secure their return on capital rather than seeking a return on capital. "Thus all of these make a strong case to add gold and silver to the portfolio. They will give stability to your portfolio this Samvat," adds SAMCO's note.

Muhurat trading 2024: 5 stock picks you can consider this time around

The Prime Minister’s Internship Scheme, announced in the Union Budget 2024-25, is set to offer a tremendous opportunity for young Indians to gain hands-on experience in leading companies across diverse sectors. As of October 12, the portal for this ambitious initiative is open for registrations, with over 90,000 internship positions posted by top companies like <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword>, <keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="261" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> (TCS), ONGC, Maruti Suzuki, and more. Here’s everything you need to know about how to apply, the companies participating, and answers to frequently asked questions. <h2>Step-by-Step Guide to Applying for the <keyword id="23273918" type="General" weightage="100" keywordseo="PM-Internship-Scheme" source="keywords">PM Internship Scheme</keyword></h2><ol><li>Visit the Official Portal: The PM Internship Scheme’s application process takes place on the official website,<a href="http://pminternship.mca.gov.in"> pminternship.mca.gov.in</a>.</li><li>Register and Set Up Your Profile: After opening the portal, you’ll need to register and fill out basic information, including educational qualifications, age, and internship preferences.</li><li>Explore Internship Listings: With over 90,000 internships available from 193 companies, you can browse listings in sectors like Oil &amp; Gas, Travel &amp; Hospitality, Automotive, Banking, and more. Each listing will provide details on job roles, skills required, and specific fields like Operations Management, Production, Maintenance, and Sales.</li><li>Apply for Your Chosen Roles: You can apply for up to five internships based on your interests, qualifications, and preferred location. The portal allows for an easy application submission and lets you track your applications.</li><li>Confirmation and Next Steps: Once you apply, download the confirmation page for reference. Internships are set to begin on December 2, 2024, so selected candidates will receive further instructions as the start date approaches.</li></ol><h2>Major Companies Participating in the PM Internship Scheme</h2>Here are some of the top companies that have already posted internships on the portal, with more joining every day: <ul><li>Reliance Industries Ltd.</li><li>HDFC Bank</li><li>Tata Consultancy Services (TCS)</li><li>Oil and Natural Gas Corporation (ONGC)</li><li>State Bank of India (SBI)</li><li>Maruti Suzuki India Ltd.</li><li>Jubilant FoodWorks</li><li>Larsen &amp; Toubro Ltd.</li><li>Eicher Motors Ltd.</li><li>Muthoot Finance</li></ul>These companies are providing internships across over 20 fields, covering a wide range of skills and sectors. The biggest opportunities are currently in the Oil &amp; Gas sector, followed by industries like Travel, Automotive, and Financial Services. <div type="Article" hostid="261" msid="113986236" title="Why so many entry-level jobs aren&amp;#39;t entry-level" mstype="2" mssubtype="0"></div><h2>Key Features of the Internship Scheme</h2>Under the scheme, interns will receive a stipend of Rs 5,000 per month, plus a one-time grant of Rs 6,000 to support miscellaneous expenses. These internships are available across 737 districts in all 37 states and Union Territories, making this a truly inclusive national program. Interns can indulge in many diverse internship roles. From operations to maintenance, sales, marketing, and production, these internships offer a variety of hands-on experiences that match real-world corporate needs. <h2>FAQs about the PM Internship Scheme</h2><h5>Who is eligible?</h5>The scheme is open to Indian citizens aged 21 to 24 who are not employed full-time or enrolled in full-time study programs. Candidates in online or distance learning programs are eligible. <h5>What sectors offer the most internships?</h5>The largest number of internships are in the Oil &amp; Gas, Travel &amp; Hospitality, Automotive, and Banking &amp; Financial Services sectors, with positions also available in fields like Manufacturing, IT, and Retail. <h5>When do the internships start?</h5>Internships for this year will begin on December 2, 2024. The scheme aims to facilitate 1.25 lakh internships this financial year and eventually reach one crore internships over the next five years. <h5>What are the application deadlines?</h5>The portal is open from October 12 for candidates to start applying, with companies continuing to post positions as the scheme rolls out. It’s recommended to apply early, as some positions may fill up quickly. <div type="Article" hostid="261" msid="114029056" title="Read 5 résumés that helped techies land $300,000-plus jobs at Google, Meta, Amazon, and Salesforce" mstype="2" mssubtype="0"></div>

PM Internship Scheme finally launched — here’s how you can apply to work with Reliance, TCS, SBI and more!

Private sector lender <keyword id="19952948" type="General" weightage="20" keywordseo="Axis-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="Axis Bank" meta.hostid="261" meta.entityid="Axis Bank">Axis Bank</keyword> on Wednesday reported a net profit of Rs 7,129 crore for the fourth quarter ended March 31, 2024. The bank had reported a net loss of Rs 5,728 crore in the March quarter of 2022-23 fiscal. Total income rose to Rs 35,990 crore in the March quarter of 2023-24 fiscal, from Rs 28,758 crore in the year-ago period. The bank's Net Interest Income (NII) grew 11 per cent Year-on-Year (YoY) to Rs 13,089 crore. For 2023-24 fiscal, the net profit jumped 160 per cent to Rs 24,861 crore. The numbers for the March quarter of 2022-23 fiscal and the full fiscal include the impact of exceptional items relating to the <keyword id="19941660" type="General" weightage="20" keywordseo="citibank" source="keywords">Citibank</keyword> business acquisition, Axis Bank said. Its balance sheet grew 12 per cent YoY to Rs 14,77,209 crore as on March 31, 2024. The bank issued 1.24 million new credit cards in the March quarter of FY24 and has been one of the highest credit card issuers in the country over the last nine quarters, Axis Bank said in a regulatory filing. The bank's board has recommended a dividend of Re 1 per equity share of the face value of Rs 2 per equity share for FY24. Shares of Axis Bank settled at Rs 1,063.70 apiece, up 0.69 per cent over the previous close on the BSE. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank">Realme Narzo 70, Narzo 70X 5G smartphones launched in India starting at ₹11,999</a><a href="https://www.businessinsider.in/tech/news/gigabyte-aorus-co49dq-49-inch-qd-oled-144hz-curved-gaming-monitor-launched-in-india/articleshow/109563798.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/gigabyte-aorus-co49dq-49-inch-qd-oled-144hz-curved-gaming-monitor-launched-in-india/articleshow/109563798.cms" target="_blank">GIGABYTE AORUS CO49DQ 49-inch QD-OLED 144Hz curved gaming monitor launched in India</a><a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank">Apple Let Loose event scheduled for May 7 – New iPad models expected to be launched</a>

Axis Bank posts net profit of ₹7,129 cr in March quarter

Good morning, readers. I'm Phil Rosen, reporting from New York City. The bank turmoil we saw in March feels like some time ago, but top strategists are warning that more consequences are still ahead. If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-opening-bell">sign up here</a>. Download Insider's app <a href="https://www.insider.com/app">here.</a><a href="https://markets.businessinsider.com/news/stocks/banking-crisis-regional-banks-commercial-real-estate-credit-crunch-jpmorgan-2023-4"></a>1. Regional banks' recent troubles are just the beginning — at least, that's what a chorus of Wall Street folks have been saying this week. JPMorgan Asset Management's Jonathan Liang said Wednesday on Bloomberg that smaller banks now face an <a href="https://markets.businessinsider.com/news/stocks/banking-crisis-regional-banks-commercial-real-estate-credit-crunch-jpmorgan-2023-4?_gl=1*1wv53kq*_ga*ODkwODI1NzUwLjE2MzU3Nzg0NDE.*_ga_E21CV80ZCZ*MTY4MTkyNDM1Ni40MDIuMS4xNjgxOTI0NTgwLjUwLjAuMA">increased risk of credit losses</a> because of their heightened exposure to the commercial real estate debt. Nearly $450 billion in commercial mortgages are due to mature this year, with final payments due in the coming months for many property owners, according to Trepp data cited by JPMorgan."We think the story in banking is not over yet," Liang said. And Goldman Sachs' global head of real estate client solutions, Jeffery Fine, recently said the commercial real estate market is in the <a href="https://markets.businessinsider.com/news/stocks/commercial-real-estate-interest-rates-fed-credit-crunch-debt-goldman-2023-4?_gl=1*1xthgpb*_ga*ODkwODI1NzUwLjE2MzU3Nzg0NDE.*_ga_E21CV80ZCZ*MTY4MTkyNDM1Ni40MDIuMS4xNjgxOTI0NTcwLjYwLjAuMA">middle of a "perfect storm" </a>of higher rates, tight credit, and fast-maturing debt. The market faces a "big rightsizing" that must be confronted, Fine said on Goldmans' podcast, and he anticipates a <a href="https://markets.businessinsider.com/news/stocks/commercial-real-estate-interest-rates-fed-credit-crunch-debt-goldman-2023-4?_gl=1*1xthgpb*_ga*ODkwODI1NzUwLjE2MzU3Nzg0NDE.*_ga_E21CV80ZCZ*MTY4MTkyNDM1Ni40MDIuMS4xNjgxOTI0NTcwLjYwLjAuMA">drop in valuations in older properties and office buildings</a>. Remember, the Fed's nine consecutive interest rate hikes have made borrowing more costly, and commercial property owners will likely be trying to refinance their loans at higher rates than when they originally took them out. On top of that, many experts say that <a href="https://markets.businessinsider.com/news/stocks/credit-crunch-us-bank-crisis-stock-corporate-earnings-recession-svb-2023-4">a credit crunch has begun</a>, and loans are going to be generally harder to come by. The Goldman strategist said <a href="https://markets.businessinsider.com/news/stocks/commercial-real-estate-interest-rates-fed-credit-crunch-debt-goldman-2023-4?_gl=1*1xthgpb*_ga*ODkwODI1NzUwLjE2MzU3Nzg0NDE.*_ga_E21CV80ZCZ*MTY4MTkyNDM1Ni40MDIuMS4xNjgxOTI0NTcwLjYwLjAuMA">securing commercial real estate loans</a> now is "almost impossible" since financing has just about shut down."Over time there's going to have to be a very organized public and private partnership to figure out a <a href="https://markets.businessinsider.com/news/stocks/commercial-real-estate-interest-rates-fed-credit-crunch-debt-goldman-2023-4?_gl=1*1xthgpb*_ga*ODkwODI1NzUwLjE2MzU3Nzg0NDE.*_ga_E21CV80ZCZ*MTY4MTkyNDM1Ni40MDIuMS4xNjgxOTI0NTcwLjYwLjAuMA">careful unwind</a> of this current dynamic," he added. "Otherwise, we have a very messy situation on our hands."What's your outlook for the commercial real estate sector in the next 6 months? Tweet me (<a href="https://twitter.com/philrosenn" target="_blank" rel="noopener">@philrosenn</a>) or email me (prosen@insider.com) to let me know.In other news:<a href="https://www.businessinsider.com/buy-stocks-now-investing-strategy-market-rally-election-midterms-nationwide-2023-4"></a><div type="image" title="NYSE TRADER" height="1500" width="3000" msid="99639495" hostid="261" sizebytes="827178"></div>2. US stock futures fall early Thursday, with corporate earnings still in focus. Later this morning, investors will also be keeping an eye on data on jobless claims and existing home sales. <a href="https://markets.businessinsider.com/premarket?nr_email_referer=1&amp;utm_source=Sailthru&amp;utm_medium=email&amp;utm_content=Opening_bell&amp;utm_campaign=Post%20Blast%20%20:%20The%20stock%20market%20is%20going%20to%20be%20trading%20flat%20as%20long%20as%20risk-free%20assets%20offer%20much%20more%20yield&amp;utm_term=10%20THINGS%20BEFORE%20THE%20OPENING%20BELL%20SEND%20LIST">Here are the latest market moves</a>.3. On the docket: American Express, Fifth Third, and KeyCorp, all <a href="https://markets.businessinsider.com/earnings-calendar">reporting</a>.4. The rest of 2023 is the "best period" for stocks in a 12-month span. Nationwide's Mark Hackett said stocks could be fairly calm moving forward, creating an opportunity ahead of next year's elections. <a href="https://www.businessinsider.com/buy-stocks-now-investing-strategy-market-rally-election-midterms-nationwide-2023-4">He recommended what to buy while the good times roll</a>.5. Germany is looking to cut its reliance on China with a new $2.2 billion commodities fund. Since Russia invaded Ukraine, European Union nations have looked to ramp up domestic production and refining for raw materials. <a href="https://markets.businessinsider.com/news/commodities/germany-china-trade-commodities-fund-metals-market-europe-russia-war-2023-4">Here's what to know</a>.6. Wall Street has high hopes for Netflix. The streaming giant is preparing to crack down on password sharing in the US — <a href="https://markets.businessinsider.com/news/stocks/netflix-password-sharing-crackdown-imminent-wall-street-opportunity-stock-market-2023-4">and Bank of America anticipates that to drive big upside for revenue and subscriber growth</a>.7. US foreclosure filings have increased for 23 consecutive months. In the first quarter, they are up 22% compared to a year ago, and <a href="https://markets.businessinsider.com/news/stocks/home-foreclosure-filings-default-housing-market-crash-repossession-pandemic-moratorium-2023-4">repossessions just hit their highest level in three years.</a>8. This real estate investor commands a 311-unit portfolio. She explained a recession-proof strategy that she's using to all but guarantee she receives market-value rent payments. <a href="https://www.businessinsider.com/real-estate-investing-strategy-recession-proof-cash-flow-section-8-2023-4">Get the full details.</a>9. Meet the Fidelity fund manager who's beaten 93% of competition in the last five years. He shared how he consistently delivers upside while avoiding painful sell-offs — <a href="https://www.businessinsider.com/investing-how-to-cheap-stocks-bonds-growth-market-strategy-fidelity-2023-4">and broke down how he finds "mispriced growth" stocks hiding in the market</a>.<a href="https://markets.businessinsider.com/news/stocks/tesla-stock-elon-musk-price-cuts-market-news-model-y-2023-4"></a><div type="image" title="Tesla stock price on April 20, 2023" height="1034" width="1124" msid="99639496" hostid="261" sizebytes="33368"></div>10. Tesla stock slides 8% in premarket trading as Elon Musk's price cuts eat into quarterly profits. The EV maker met analysts' first-quarter revenue targets, but reported slimmer profit margins. <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-elon-musk-price-cuts-market-news-model-y-2023-4">Here's the latest</a>. Curated by Phil Rosen in New York. Feedback or tips? Tweet <a href="https://twitter.com/philrosenn" target="_blank" rel="noopener">@philrosenn</a> or email <a href="mailto:prosen@insider.com" target="_blank" rel="noopener">prosen@insider.com</a>.Edited by Max Adams (<a href="https://twitter.com/maxradams?lang=en" target="_blank" rel="noopener">@maxradams</a>) in New York and Hallam Bullock (<a href="https://twitter.com/hallam_bullock" target="_blank" rel="noopener">@hallam_bullock</a>) in London.

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Muhurat trading 2024: 5 stock picks you can consider this time around

Ira Alok Puranik

PM Internship Scheme finally launched — here’s how you can apply to work with Reliance, TCS, SBI and more!

BI India Bureau

Axis Bank posts net profit of ₹7,129 cr in March quarter

PTI

Wall Street warns the banking turmoil is coming for the commercial real estate sector

Phil Rosen

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