Market Bizzz

Fed officials warned on Friday of further rate hikes even after voting to hold the benchmark rate steady last week, with three policymakers saying they remain uncertain the inflation battle is finished.

InGovern Research has suggested that FCL shareholders seek a postponement of the resolution, citing concerns over the adequacy of the notice period. On the other hand, Stakeholders Empowerment Services (SES) has advised shareholders to vote against it, while Institutional Investors Advisory Services (IiAS) has recommended that shareholders vote in favour of the resolution.

The recent increase in borrowing costs across Corporate America is causing concern for stock investors, particularly in the tech sector. Federal Reserve Chairman Jerome Powell’s commitment to keeping interest rates adjusted for inflation elevated has sparked a sell-off in Big Tech stocks. The rising cost of capital is seen as detrimental to equity valuations, and skepticism is growing as the cost of borrowing climbs. Higher rates are pressuring companies and threatening to impact their valuations. The tech-heavy Nasdaq 100 has already dropped over 5% in September.

The view is a little negative for HDFC Bank; 1500 to 1480 is the immediate target on the downside. Keep your stop loss if you are on the short side of the trade at 1560, says Rajesh Palviya, Axis Securities

Despite all the insightful bytes they may share with their loyal followers, finfluencers are not without their drawbacks and limitations. One of the major challenges is the lack of regulation and accountability in the finfluencer space. Unlike registered investment advisers or financial planners, finfluencers do not need any formal qualifications or certifications to offer financial advice.

“Promising business outlook, near-monopoly status, and the government’s Make-in-India drive first pushed railway stocks, followed by defence, and now mining. Hugh cash on books, dirt cheap valuations etc. were an added advantage for the rally.”

According to analysts, the sale of Glenmark Life could impact the profitability of Glenmark Pharma in FY25 but lower interest payments could offset the impact. ICICI Securities said the company will use the proceeds to clear its outstanding debt of ‘4,340 crore as of FY23 but the transaction is likely to result in an earnings cut of 5% for FY25. The brokerage has a sell rating on the stock with a price target of ‘660.

The index inclusion could result in inflows of about $24 billion into eligible government bonds from the start of next year to May 2025, IDFC First Bank said in a note.

Roadzen has partnered with global automotive players, including Mercedes, Audi, Volvo-Eicher, Mitsubishi, Skoda, Seat, Renault, and Dacia, major insurers such as Axa, Societe Generale, and Arch, and fleet companies such as CJ Darcl.