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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

Mumbai: The rupee fell sharply by 15 paise against the US dollar to 83.44 in early trade on Wednesday amid muted trends in the domestic equity markets. However, a decline in the dollar index and a marginal fall in the Brent crude index prevented further losses in the domestic unit, according to experts. At the interbank foreign exchange, the local unit opened at 84.38 -- down 9 paise from its previous close -- and then slid further to 84.44, registering a decline of 15 paise from its previous close. On Tuesday, the rupee pared its intra-day losses to settle flat at 84.29 against the US dollar. "The <keyword id="24182640" type="General" weightage="20" keywordseo="Indian-banking-liquidity" source="keywords">Indian banking liquidity</keyword> fell into deficit as industry players paid Rs 1.6-1.8 lakh crore as GST payment. This was after two months that liquidity has fallen into a deficit as the RBI also intervened into forex markets to defend the rupee weighing on liquidity conditions," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. "The rupee may be in the broad range of 84.00 to 84.50 in the near term as markets await a slew of data from the US this evening," Bhansali added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.15 per cent to 106.84. Brent crude, the global oil benchmark, was marginally down 0.10 per cent to USD 72.74 per barrel in futures trade. In the domestic equity market, the 30-share equity benchmark Sensex was trading 46.69 points lower, or 0.06 per cent, at 79,957.57 points. <keyword id="19932515" type="General" weightage="20" keywordseo="Foreign-Institutional-Investors" source="keywords">Foreign Institutional Investors</keyword> (FIIs) were net buyers in the capital markets on Tuesday, purchasing shares worth Rs 1,157.70 crore, according to exchange data.

Rupee falls 15 paise to 83.44 against US dollar in early trade

Mumbai: The rupee slipped 1 paisa to an all-time low of 84.40 against the US dollar in early trade on Wednesday, as persistent <keyword id="20520117" type="General" weightage="20" keywordseo="foreign-fund-outflows" source="keywords">foreign fund outflows</keyword> and a muted trend in domestic equities weighed on the local unit. Forex traders said the USDINR pair has shown significant volatility in recent sessions, with the rupee inching closer to its all-time low of 84.40. This downward pressure is largely driven by global factors, particularly the Dollar Index's strengthening. At the interbank foreign exchange, the rupee opened at 84.40 against the greenback, registering a fall of 1 paisa over its previous close. On Tuesday, the rupee fell 1 paisa to a new lifetime low of 84.39 against the US dollar. "It appears that the rupee has established support around the current levels, with depreciation limited near 84.50," CR Forex Advisors MD Amit Pabari said. Pabari further added that the RBI stands tall as the depreciation in the rupee seems to be limited as the <keyword id="19899810" type="General" weightage="100" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI) continues to sell the dollars to protect the sharp depreciation. "For the 5th consecutive week, India's forex reserves declined, possibly due to RBI selling the dollars. Currently, the forex reserves of India stand at USD 682 billion down from the recent all-time high of USD 704 billion," he said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.04 per cent at 105.98. Brent crude, the global oil benchmark, rose 0.25 per cent to USD 72.07 per barrel in futures trade. On the domestic equity market front, Sensex was trading 210.66 points, or 0.27 per cent lower, to 78,464.52 points. The Nifty fell 100.45 points, or 0.42 per cent, to 23,783.00 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 3,024.31 crore, according to exchange data. On the macroeconomic front, retail inflation breached the Reserve Bank's upper tolerance level, soaring to a 14-month high of 6.21 per cent in October mainly on account of rising food prices. Inflation based on the consumer price index (CPI) was 5.49 per cent in September and 4.87 per cent in the year-ago month. India's industrial production expanded by 3.1 per cent in September after recording a contraction in the preceding month, as all three major segments -- mining, manufacturing, and power generation -- showed improvement. However, the growth in the Index of Industrial Production (IIP) during the month was lower than 6.4 per cent registered in September 2023.

Rupee falls 1 paisa to all-time low of 84.40 against US dollar in early trade

The <keyword id="21570567" type="General" weightage="100" keywordseo="credit-offtake" source="keywords">credit offtake</keyword> continued to grow at the rate of 13.9% year-on-year to reach Rs. 168.1 lakh crore for the fortnight ending July 12, 2024. However, the pace of growth was slow, a Care Edge report said. Credit offtake is a type of <keyword id="19946069" type="General" weightage="20" keywordseo="bank-credit" source="keywords">bank credit</keyword> that assists businesses in getting financing for future projects. The credit offtake increased by 14.0% year-on-year, but declined by 0.4% sequentially for the fortnight ended July 12, 2024. Over the last twelve months, credit offtake expanded by Rs. 20.4 lakh crore. The report attributed the sluggishness to the higher base effect and banks' focus on restraining the credit-to-deposit (CD) ratio. <keyword id="20218853" type="General" weightage="20" keywordseo="deposits" source="keywords">Deposits</keyword> grew by 11.3 % year-on-year for the fortnight, including the impact of the HDFC merger, reaching Rs. 211.8 lakh crore, driven by growth in time deposits. "The <keyword id="20575555" type="General" weightage="20" keywordseo="credit-to-deposit" source="keywords">Credit to Deposit</keyword> ratio stood at 79.4 % for the fortnight (July 12, 2024). Meanwhile, if we study the credit and deposit inflows over the past 3 months and 6 months, we can observe that credit offtake has lagged the deposit growth numbers. Hence, the <keyword id="20048508" type="General" weightage="20" keywordseo="CD-ratio" source="keywords">CD ratio</keyword> derived from these flows from January would be around 70% and from March would be approximately 54%," the report added. The report added that going forward, bank credit offtake could face challenges, and is likely to be tepid for the entire year. Inflows over the past three and six months show credit offtake at 5.3% for six months and 2.3% for three months, lagging behind deposit growths of 6.0% and 3.4% respectively. Deposits rose by 11.3% year-on-year for the fortnight, but declined by 0.5 % sequentially. In absolute terms, deposits expanded by Rs. 23.9 lakh crore over the last twelve months. The report anticipated that the deposit is expected to be strong in FY25, as banks focus on strengthening their liability franchise, sourcing funds through certificates of deposit, despite higher costs. As per the data in the report, the absolute growth in credit offtake was Rs. 8.4 lakh crore for six months, and Rs. 3.8 lakh crore for three months, lagging behind deposit growth of Rs. 11.9 lakh crore and Rs. 7.0 lakh crore for the same periods. The CD ratio has floated around 80 % since September 2023, standing at 79.4 % for the fortnight ending July 12, 2024, as per the report.

Credit offtake expanded by Rs. 20.4 lakh crore, deposits by Rs 23.9 lakh crore over the last 12 months

Domestic <keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">gold prices</keyword> have risen by 10% on a year-to-date basis on the back of the strength in global gold prices, which have surged by 18% year-to-date, driven by robust <keyword id="19894998" type="General" weightage="20" keywordseo="central-bank" source="keywords">central bank</keyword> purchases, heightened geopolitical risks, and growing expectations of a monetary policy pivot from the <keyword id="19901377" type="General" weightage="20" keywordseo="us-federal-reserve" source="keywords">US Federal Reserve</keyword>, according to the <keyword id="20195223" type="General" weightage="20" keywordseo="World-Gold-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="World Gold Council" meta.hostid="153" meta.entityid="World Gold Council">World Gold Council</keyword>. The reduction in <keyword id="20069572" type="General" weightage="20" keywordseo="import-duty" source="keywords">import duty</keyword> has ignited a resurgence in gold demand across <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>. Reports from the recently concluded India International Jewellery Show indicate a substantial increase in order bookings from retailers, particularly in preparation for the upcoming festive and wedding season. Manufacturers have noted that in some cases, orders have reached levels not seen in several years, underscoring the strong buying interest among <keyword id="21595593" type="General" weightage="20" keywordseo="jewellery-retailers" source="keywords">jewellery retailers</keyword> and consumers alike. The trend of bar and coin buying has also remained robust, with both consumers and jewellers capitalizing on the more attractive prices to stock up for future manufacturing needs. Historical analysis suggests that Indian consumer demand, encompassing jewellery and bar and coin demand, could see an additional 50 tonnes or more in the second half of 2024. This potential increase is fueled by a combination of an initial boost in consumer appetite due to the more attractive prices and a longer-term alignment of local prices with international rates. In a notable shift, domestic gold prices, which had been trading at a discount to international prices for five consecutive months, have now started trading at a premium following the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> announcement. The discount had widened significantly in July, reaching a peak of around $80 per ounce in the third week of the month, driven by subdued demand and an increased supply of gold through various preferential trade agreements and unofficial channels. However, wholesalers who had inventory purchased under the old customs duty regime began selling gold at a premium to the landed cost to mitigate their losses, further supported by increased consumer demand. While the premiums have moderated recently, from $28 per ounce to around USD 5 per ounce, this shift highlights the changing market sentiment and the impact of rising international gold prices and potential inventory valuation adjustments. The changes introduced in the Union Budget, including a reduction in the long-term investment holding period and a lower tax rate, have made gold ETFs a more attractive investment option. Data from the Association of Mutual Funds in India (AMFI) reveals that net inflows into gold ETFs in July amounted to Rs 13.4 billion (approximately USD 160 million), marking the highest monthly inflows since February 2020 and an 84% increase compared to June 2024. Despite these inflows, the total assets under management (AUM) for Indian gold ETFs grew marginally by 0.3% from the previous month, reaching Rs 345 billion ($4.1 billion). This modest increase can be attributed to the 8 % fall in domestic gold prices following the import duty reduction. Year-to-date, net inflows into Indian gold ETFs have totalled Rs 45 billion ($543 million), with total AUMs rising by 48 % from a year ago. The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="153" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI) has continued its gold purchasing trend, although at a slower pace following a significant increase in June, when purchases reached 9.3 tonnes--the highest monthly total in nearly two years. Year-to-date, the RBI's gold acquisitions have totaled 44.3 tonnes, surpassing the total purchases of the past two years combined. The RBI's gold reserves have now reached a record 849 tonnes, representing 8.8% of total foreign reserves, compared to 7.5 % a year ago. In July, gold imports remained steady at $3.1 billion, maintaining the stable trend observed over the previous three months. Between April and July, imports averaged $3.2 billion, with volumes ranging between 43 and 47 tonnes during this period. The gold import bill for July 2024 was 11 % lower than the previous year, with an estimated 26% decrease in volume terms, around 47 tonnes. Despite a surge in international gold prices, domestic gold prices in India have experienced a notable decline, primarily due to the 9 % reduction in import duty announced in the Union Budget 2024-25. This policy change has led to a 6% decrease in the landed cost of gold, marking a shift in the domestic gold market dynamics.

Domestic gold prices surge 10% amid global price rally, central bank buying: World Gold Council

<keyword id="19951168" type="General" weightage="20" keywordseo="RBI-governor-Shaktikanta-Das" source="keywords">RBI governor Shaktikanta Das</keyword> announced no change in prevailing interest rates and maintained the withdrawal of accommodation stance in the ongoing <keyword id="20456086" type="General" weightage="20" keywordseo="Monetary-Policy-Review" source="keywords">Monetary Policy Review</keyword> (MPC) meeting, which was held between August 6th and August 8th, 2024. This was the 50th MPC meeting since its inception. <h2>What is MPC meet? </h2>The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI) held its third <keyword id="22709762" type="General" weightage="20" keywordseo="bi-monthly-MPC-meet" source="keywords">bi-monthly MPC meet</keyword>, which began on August 6th, 2024 and concluded today. Experts were widely of the view that there would be no significant changes in the <keyword id="22709761" type="General" weightage="20" keywordseo="benchmark-repo-rate" source="keywords">benchmark repo rate</keyword> during this MPC meet, and that the MPC would keep it unchanged at 6.5%. This is the ninth time the <keyword id="20094323" type="General" weightage="20" keywordseo="repo-rate" source="keywords">repo rate</keyword> has been left unchanged, since it was last increased from 6.25% to 6.5% on 8th February 2023. MPC includes 6 members, three from RBI, and three external experts. Together, they are responsible for setting the benchmark interest rate, or repo rate. This is the rate at which the central bank of the country i.e. RBI lends to other banks of the country. If it is increased, the same translates into higher borrowing costs for consumers as well. <h2>What was the decision? </h2>MPC decided, by a majority of 4:2 members, that the repo rate will be left unchanged at 6.5%. This was done to align both market expectations and monetary policies. The MPC has decided to focus on maintaining price stability to ensure growth, and that inflation progressively aligns with the target. Notably, the RBIs inflation target is around 4%, with a tolerance band of about 2%. This target was last met in January 2021, when inflation stood at 4.06%. Per the governor, "PMI services stood strong at 60.3 in July, and have been above 60 for seven constitutive months, indicating robust expansion of services. On the demand side, household consumption is supporting a turnaround in rural demand and steady discretionary spending in urban areas is also being observed". As Das noted, sustained buoyancy in services activity is expected to support urban consumption. Moreover, government's thrust on capex, and signs of pickup in private investment would drive investment activity in the current year. Taking all these factors into consideration, the real GDP growth for 2024-25 has been projected at 7.2% . This is distributed as 7% in Q1, 7.1% in Q2, 7.2% in Q3 and 7.3% in Q4. Explaining the moderation of growth projections for the first quarter of the current FY, as compared to information given during previous MPC in June, Das explained that this was primarily due to updated information on certain high frequency indicators which show lower than anticipated results. These include corporate profitability, central government expenditure and core industries output, among others. As for CPI inflation for current FY, it has been pegged at 4.5%. Accordingly, Q2 projections stand at 4.4%, Q3 at 4.7% and Q4 at 4.3%. CPI inflation for the first quarter of next financial year i.e. Q1FY26 is projected at 4.4%. <h2>Is high food inflation a key concern? </h2>In June 2024, food inflation surged, pushing overall CPI (consumer price index) inflation to 5.1% during the month, from 4.8% in May. It may be noted that food inflation forms a significant part of CPI. That is why, even with a supportive base effect from the previous year, food inflation jumped to 9.4%, driven mostly by high vegetable prices, which have remained in double digits for eight months. "The inflation trajectory has been moderating, and we do expect it to moderate, but the pace of modulation has been uneven and slow. So, we need to be watchful to ensure that we move closer to target, and CPI inflation gets aligned to the target on a durable basis", continued Das. <h2>Some segments of personal loans are excessively leveraged, notes Das </h2> Going ahead, there will be a public repository of digital lending apps deployed by the regulator. This comes amidst a spike in number of unauthorised lending apps, and certain segments of personal loans witnessing excess leverage through retail loans, most of which are for consumption purposes, the governor noted. Additionally, the current UPI transaction limit for tax payments is being enhanced from Rs 1,00,000 to Rs 5,00,000 per transaction. Also, the clearance cycle is also being shortened and made almost continuous, with cheques being cleared on the same day, within just a few hours of being presented, benefiting all stakeholders. <h2>What are the experts saying? </h2>Says Anuj Puri, Chairman - ANAROCK Group, "The RBI's decision to keep repo rates unchanged at 6.5% for ninth consecutive time aligns well with yesterday's announcement on indexation benefits. It sets a positive tone for the housing industry. Maintaining interest rates offers consistency in borrowing costs, which will prompt more aspiring homebuyers to consider taking the plunge - and thus drive demand in the housing market. With interest rates staying steady, EMIs will remain manageable for current and potential homeowners, potentially leading to increased home sales - particularly in the price-sensitive affordable segment". <h2>When is the next MPC scheduled?</h2>The upcoming RBI MPC meets are scheduled to take place between October 7th and 9th, December 4th an 6th, 2024, and February 5th and 7th, 2025.

You Searched For "hdfc bank share price three months" and got 6 results

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

Ira Alok Puranik

Rupee falls 15 paise to 83.44 against US dollar in early trade

PTI

Rupee falls 1 paisa to all-time low of 84.40 against US dollar in early trade

PTI

Credit offtake expanded by Rs. 20.4 lakh crore, deposits by Rs 23.9 lakh crore over the last 12 months

ANI

Domestic gold prices surge 10% amid global price rally, central bank buying: World Gold Council

ANI

RBI MPC Meet: Repo rates unchanged at 6.5%, inflation moderating, albeit slowly

Ira Alok Puranik

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