Indian stock  indices  Sensex and Nifty  50  are trading lower on Wednesday as investors  opt to book profits  after the recent rally. Weak global market  signals have  also  shaken confidence  in  domestic  stocks. 

 The domestic market  starts  2024  at  a high  level  and  therefore, according to analysts,  it  is  difficult to expect  the same  performance by the  end of 2024.  

  Dhiraj Relli, Managing Director and CEO, HDFC Securities said:  “However, the  rise  of  REIT acquisitions  and  issuances in  India as an attractive market,  albeit at seemingly high, which could  help our  market achieve further  gains  early  in the  year.” 

  He believes that going forward,  we  could see  bouts of volatility due to elections,  the  timing and  amount  of  interest  rate cuts, and valuation concerns.  Meanwhile, HDFC  Securities’ retail research  has come  up  with three fundamental stock picks  that have  decent upside potential  over  a  period  of  two to three  quarters.  

 The brokerage  firm recommends  buying Bharat Electronics, Caplin Point Laboratories and Spandana Sphoorty Financial at  the  current market price and also  adding additional discounts.  

  Below  are three  basic  stocks to buy from HDFC Securities.  

 Bharat Electronics | Buy | TP: ₹202 

 Bharat Electronics (BEL), one of  India’s  largest  defense  PSUs, is emerging as a  major  beneficiary of  increased defense  capital  spending.  Government ownership  results in  a  large pipeline  of  nomination-based  orders  and  significant defense payment  requirements  from  foreign  suppliers, creating  opportunities for business growth over the medium term.  HDFC Securities said: “BEL’s  established track record,  strong  manufacturing  capabilities,  strong R&D base,  solid  order book with healthy order  outlook  and strong financial profile  due to  zero  debt ,  attractive  margins  and  improving  profitability  make  us  bullish on  the  stock.”  

 It  looks like  investors  could  buy the stock  between  ₹182-186  and add  on dips to  around  ₹165-169  (26x  Dec 25  EPS)  with a  base target of ₹202 (31.5x  EPS December 25)  and  optimistic scenario.  target  is  ₹218 (34x  Dec 25  EPS) over the next three to four quarters.

  For more  information,  visit at https://happenrecently.com/zepto/?amp=1

 Overall,  goods exports have  declined  for  much  of the  current fiscal  year due to  slowing  demand  in the  West, the main  consumer of  India’s textile,  gems and  jewelry  exports.  The real estate  crisis in China has also  slowed down India’s  exports. 

 India’s  exports from  labor-intensive sectors  such as textiles,  gems and  jewelry as well as  leather exports have slowed despite  previous  free trade agreements  (FTAs),  as  suppliers Efficient  suppliers from China, Vietnam and Bangladesh  have  gained market  share.  in global  trade. said  a report  from research organization the  Global Trade Research Initiative  (GTRI).

  Overall,  goods exports have  declined  for  much  of the  current fiscal  year due to  slowing  demand  in the  West – the main customers  of  India’s textile,  gems and  jewelery  exports.  The real estate  crisis in China has also  slowed down India’s  exports.  The  advisory body  said  the  main reason  for weak exports in these sectors  is  non-tariff barriers (NTBs) imposed by  consuming countries  and  India should  take advantage of  the ongoing  talks on  free trade agreements  to  remove these  barriers. NTBs are trade  restrictive measures  in the form of regulations or quotas  that  limit imports without the explicit use of  customs duties.  

 At a time when India is signing free trade agreements with developed  countries like  the UK, GTRI  believes  that  simply  signing  an FTA  cannot lead to an increase  in  India’s exports of high-value goods. , labor intensity and India’s clothing exports to Japan.

 “The most favored nation (MFN) tax on clothing  in  Japan is  10%.  

 During the FTA negotiations  between 2008 and 2010,  it was  believed  that if Japan could reduce  tariffs  to zero  after the FTA, then India’s clothing  exports to Japan would  benefit from  a significant  increase. The two  countries agreed to eliminate  customs  duties on all  garments  from  the first  day  the  India-Japan FTA came  into  effect.  But data from the past 12 years  shows  that the expected  increase has  not  occurred,”  GTRI said.  

 “Competition from more efficient suppliers from China,  Vietnam  or Bangladesh could be  the cause.  Developed countries with high per capita income prefer high-fashion  designer clothes that are  produced in large  quantities.  While developed countries buy  70%  of  their clothes  from mixed  synthetic materials,  their share in  Indian  exports is  just under 40%.  On average,  labor-intensive manufacturing units  in India  employ 20  people,  compared to 1,000 in China,”  the report added.  

 Earlier this year,  the  Federation of Indian Export  Organizations  (FIEO)  also said that an analysis of  the industry’s  export performance  over  the  past  five years  shows a worrying trend  that India is  witnessing  a decline in global market share  in labor-intensive  sectors. 

 FIEO said  the  growth  in Indian exports in recent  years can largely be attributed to  the  rerouting of crude oil trade routes  through  India to Europe and  “this phenomenon may not be sustainable in the coming  years.” next year”.  

 For more  information,  visit at https://happenrecently.com/zepto/?amp=1

 Stocks  to  Buy –  State Bank of India  (SBI), Dabur,  Life Insurance Corporation of India, HDFC Life, Bandhan Bank, Piramal Enterprises (PEL), HDFC Bank, SBI Cards are  among  8  convincing  picks of Centrum Broking 

 State Bank of India  (SBI), Dabur,  Life Insurance Corporation of India, HDFC Life, Bandhan Bank, Piramal Enterprises (PEL), HDFC  Bank,  SBI  Card  are  some of the most convincing options  of Centrum Broking. 

  State Bank of  India – Centrum’s  recommended target price  for SBI  is  ₹750. 

  Reasons to invest –  After  years of low credit growth,  increasing  write-offs and  NPA provisions,  SBI  has  now  come  out of its  shadow  and  is  showing growth. In Q2 and  recent  quarters, SBI  had  good growth and low NPAs.  SBI’s  valuation remains attractive  compared  to its private sector peers. SBI remains a  strong player in India’s growth and  financial inclusion  story.  Dabur – Centrum’s  recommended  guide  price  is  ₹650-700 

 Investment  Rationale –  Dabur has a very strong  brand  portfolio  capable of  delivering outstanding growth  in  the industry. Dabur’s  focus on  capacity building,  rural penetration and  brand  focus  could  lead to  exceptional long-term growth.  

 Life Insurance Corporation of  India – Suggested  target price  is  ₹900 

 Investment  Rationale –  LIC is trading at a discount to its  pegged value,  which  provides  significant  comfort in terms of value.  As  the quarterly results show,  LIC  remains the  dominant player and despite its huge size,  its  market share  continues to grow. Regulatory  changes  for  PAR and  non-PAR businesses are  likely to significantly increase  LIC’s profits over  the long  term.  HDFC  Life – Recommended indicative  price  is  ₹750 

 Investment  base –  HDFC Life is  one of the  leading  private  life insurance  companies  in India and operates in  an industry  with huge potential and  rapid  growth.  Over  the  past  four years, HDFC Life has shown consistent improvement in operating parameters  such as persistence  ratio. 

  Bandhan  Bank – Suggested  target price  is  ₹270 

 Investment Rationale for Bandhan Bank  –  Bandhan Bank  trades  at 1.2  times  FY25  price  to  book value.  It is relatively cheaper  compared to its  error  size. The bank is reducing its  portfolio of investments in  high-risk  microfinance institutions  and increasing its retail  account portfolio.  HDFC is looking to sell its 5%  stake,  which could lead to  setbacks.  But  this  stock is good to buy/accumulate  in case the price drops.  

 Piramal Enterprises Ltd.  (PEL) – Final  price  is  ₹1250 

  The logical investment base  for Piramal Enterprises  according to  Centrum is  Piramal Enterprise. 

 Additionally,  PEL  trades  at a very attractive valuation of 0.7 times  its 2025 book price  with a  dividend  yield of 3%.  This makes Piramal  Enterprises’  long-term investment very attractive. 

  HDFC Bank –  Suggested  target price for HDFC Bank is ₹1900 

  The reason to invest in  HDFC Bank is that HDFC Bank is trading at an attractive valuation of 2.2 times  the order  price  in  FY25. HDFC Bank has an ROE of 17% and  ROA of 2.1%. HDFC Bank has the best asset quality  among major  banks in India. HDFC Bank has  a GNPA  of 1.1% and net  NPA  of 0.3%. HDFC Bank  is a  pioneer  in  retail lending in India. The  suggested  price target of  ₹1,900  for HDFC  Bank  implies a 21% upside from  current  levels.  

 SBI  Card  and Payment  Services – Recommended Indicative Price is  ₹900 

  The reason  for  investing in  SBI Cards is that SBI Cards is  India’s  second largest card issuer in the  country,  with a  market share  of 19% of cards  in  circulation  and 17%  of total  card spending.  SBI card spend  growth  remains  stable,  positive traction in new card additions, reversal in interest rate  cycle  and improvement in  revolving  credit mix are  the  key  factors driving growth of future  card leaders.  SBI Card  trades  at 22 times FY25 earnings with an ROE of 25%.  

For more  information,  visit at https://happenrecently.com/zepto/?amp=1

 Bitcoin  is up nearly  20% since the  beginning  of  December, the  January 10 deadline for  the  US  SEC.  

 Bitcoin surpassed $45,000 for the first time in nearly two years as anticipation  grows for the  approval of an exchange-traded fund  to invest  directly in the  largest token. 

 The cryptocurrency  rose  5.2% to its highest  since April 2022 and  was trading  at $45,063 as of 3 p.m. New York time. Other tokens were mixed  in  with Ether, the second  largest token, up 4.1%  and  recently released Solana,  down 2.2%. 

 Bitcoin  is up nearly  20% since the  beginning  of December as  the January  10 deadline for the  U.S.  Securities and Exchange Commission to  authorize  a  Bitcoin  spot ETF  approaches. “The market continues  to  rally, confident  that a Bitcoin ETF will soon be allowed to  launch  in the  United States,”  said Darius Tabatabai, co-founder of decentralized exchange Vertex Protocol.  “Normally,  such an event  involves buying rumors and selling information,  and this appears to be no exception.” 

 ‘Nerves of  steel’  

 Options traders  have  been betting  that  Bitcoin  will reach  $50,000,  based  on the  optimism of  spot  ETFs. Cici Lu McCalman, founder of blockchain advisor Venn Link Partners, said a  major correction is unlikely given  broader bullish sentiment and the upcoming halving,  referring to  the  process  of halving  the  number  of  Bitcoins.  that miners receive per block  reward.  “I think traders  will  need nerves of steel to  sell  BTC,” she said. 

 The halving – sometimes  called halving  – is  scheduled  for April and  takes place approximately  every four  years.  The coin  reached record highs  after each of the last three  halves. Bitcoin’s nearly  160%  gain  last year partially  undid  some of the damage caused by  the rapid crash in  2022  that  hit  the  cryptocurrency  industry. The token outperformed global stocks and gold  during  the  period,  but  remained  below its 2021  pandemic high  of  nearly  $69,000. Shares of so-called  cryptocurrency  companies were also mixed. Bitcoin proxy MicroStrategy  is up  about 87%, while miner Marathon Digital  is down  2.3% and  cryptocurrency  exchange Coinbase Global  is down  9.5%. 

 For more  information,  visit at https://happenrecently.com/zepto/?amp=1

NSE  has issued an advisory warning  investors  against  unregistered stock  tips on Telegram,  identifying the  channel and its tips. 

 In  a bid  to  minimize risks to investors,  the National Stock Exchange (NSE) has issued a warning  about  unregistered stock  buying  tips available on social  media  app Telegram,  especially  on  the  channel  is called  ‘Premium by Vijay’. 

  NSE, in a  warning,  said that  the  Telegram channel ‘Premium by Vijay’  allegedly  offers stock  market  trading  tips  along with promises of  guaranteed  returns on  investing in the  stock  market.  

The  stock exchange stated  in its press release that  the law prohibits  investors  from  subscribing to these schemes that offer guaranteed  profits and  returns  in  the stock  market. He  said that  ‘Premium  By  Vijay’  is  not  registered as a member  or  authorized person of any registered member of NSE.  Notably, the Telegram channel in question has  repeatedly  offered guaranteed  profits  through its  programs  and products.  Registration  or  approval of  such  an  unregistered scheme  may  be considered a punishable  offense.  

 In an effort to verify the credentials of market participants, NSE has  launched  a service called  “Know/Locate  your  stockbroker”  on its website, which  has  can be accessed via the link 

https://www.nseindia.com/invest/find-a-stock-broker

 This tool  allows  investors to check the details of registered members and their authorized persons. Additionally,  the  designated bank accounts disclosed by  the  trading  member to receive  or  pay funds  from or to investors are also displayed under the same link. 

  NSE said that participation  by  subscribers  in such prohibited schemes  would pose risks, costs  and  consequences to investors,  as  such  schemes are  not  approved  or  endorsed by the  Exchange . 

 Investors  shall  not have access to any benefits under the  Investor Protection Rules of the Exchange  in  the event  of any  dispute relating to investment  in such prohibited schemes.  NSE said all  investors  must  verify the details of any  individual  or entity  involved  in a scheme like  this.  

For more  information,  visit at https://happenrecently.com/zepto/?amp=1

 The amendment also includes changes  in  the table  showing  incentive  expenditure,  with the total indicative incentive  amount going up  to Rs 25,938 crore. 

  The  Government  of India has extended the Production Linked Incentive (PLI)  Scheme  for the  automobile  industry for another year with certain modifications. 

  Following approval by  the  Empowered Group of Secretaries (EGoS), the Ministry of Heavy Industries has made  a number of changes  to the  system to provide greater  clarity and flexibility. 

  As per  the  revised plan,  the incentive will be applicable for a total of  five  consecutive financial years, starting from  FY 2023-24,  with  disbursement of  the incentive  to take place next year.  Approved  applicant(s) will be eligible  to receive  benefits for  5  consecutive  fiscal  years, but not  later than  March 31, 2028.  Additionally,  if an approved  business does not  meet the  established revenue growth  threshold  in  the first  year, that business  will not receive any  incentives  for that year. However,  he  will still  receive  benefits  the  following  year if  he reaches  the threshold calculated on the basis of  annual growth of  10%  compared to the threshold of  the first  year. According to  the  government, this  will ensure a level playing field for all approved  businesses  and  protect  those who  want  to  invest first.  

 The amendment also includes changes  in  the table  showing  incentive  expenditure,  with the total indicative incentive  amount going up  to Rs 25,938 crore. 

  For more  information,  visit at https://happenrecently.com/zepto/?amp=1

 Stock market today: Extending Monday’s late sell-off  into  another session,  Indian stock market  benchmark indices  fell  further  on Tuesday. The  Nifty 50 index opened  marginally  higher at  21,751,  but  quickly  came under  selling pressure  and  hit an  intraday low of  21,555, registering an intraday  loss of  about  186 points on Tuesday.  

 Sensex today opened higher at 72,332 and touched  an  intraday low of  71,613, registering a loss of  over 650 points  in Tuesday’s trading session.

  Similarly,  the  Nifty Bank index today opened  at  48,194  and  touched an  intraday low of 47,814 within  hours of  the  stock  market opening.  Why  did the stock  market  decline  today? 

 According to stock  experts, the Indian stock  market  today dropped due to two main reasons: the first and most important reason is the overbought condition of the Indian stock market and the second is the leopard season. upcoming third quarter 2024 earnings report. rebalancing ahead of the new earnings season and overbought conditions in major benchmarks are ideal to trigger profit-taking.

 On why the  Indian stock market is down  today, Sandeep Pandey,  founder of  Basav  Capital, said: “The Indian  stock market  is  in  an  overbought  mode.  In  the  last two months,  the  Nifty 50 index has  increased by nearly  3,000 points,  the  BSE Sensex  has increased by about  9,400 points  during  this period  while the  Nifty Bank index  has increased by about  6,350 points  during  this  period. More  importantly, this  increase  in  the  Indian  market continues. Therefore,  this correction  must be considered  a healthy correction  as  profit  recognition  by  DIIs and FIIs  is late. »  

Referring to the  upcoming Q3FY24  earnings  season, Saurabh Jain, Vice  President, Research,  SMC Global  Securities,  said,  “Earnings accounting is delayed  as FIIs and DIIs  have  remained net  long for the past  two  months .  This profit  taking is also  expected  by many  as  the third quarter earnings  season is about to begin and  the  Indian market has a  habit  of rebalancing  before the third quarter earnings  season  at  the beginning of  the  new year.  

Therefore,  this is just a  profit-taking  and  market  rebalancing  activity when  preparing for the upcoming  earnings reporting season. »  

 Stocks  should be bought  today 

 On stocks to  watch  in  the  current season,  SMC Global’s  Saurabh Jain  said  one can look at stocks in  the capital,  infrastructure,  hospitality  and FMCG  sectors.  

 Advising bottom fishers to look at  top  large-cap stocks, Sandeep Pandey of Basav Capital  said:  “In  the  recent rally,  it is the mid-  and small-cap stocks  that  have  recovered  the  most, in while the top  large-cap stocks  do not. remains  fully  engaged  in this  increase. orient yourself. So I  advise bottom fishers to look at  50  Nifty  stocks like Tata  Consumer,  ITC, JSW Steel and  Wipro. »  

 Sandep Pandey said  one can  also  look at Coal  India’s inventory levels. However,  it is not a  stock  listed  in Nifty.  

 For more  information,  visit at https://happenrecently.com/zepto/?amp=1

 The brokerage firm  expects  Indian  markets to continue to outperform  throughout 2024,  supported  by strong macro and micro fundamentals. Here are the top  options  to  look out for.  

 Motilal Oswal identifies State Bank  of  India (SBI), Hero MotoCorp, Dalmia Bharat, Coal India, Kajaria  Ceramics  and several other stocks as their top  picks  for  2024.  

 The brokerage firm  expects  Indian  markets to continue to outperform  throughout 2024,  supported  by strong macro and micro fundamentals. Motilal Oswal  highlighted that  despite the recent  market recovery,  valuations remain reasonable and  below the  average over the past 10 years.  Loan growth remains healthy and the bank  expects moderate  growth over the medium term. SBI remains one of our  favorite sector picks.  SBI  exceeds  previous RoA target  by  1%;  currently  aims to  achieve a RoA of  1.2%  and  a RoE of  20%  sustainably.  

 We like ONGC  due to  its  cheap valuation and  improving volume growth outlook. It  aims  to increase  production to  50 mmtoe  by FY28  (40 mmtoe  FY23), driven by  

 ongoing projects (9 infrastructure  projects and  14 development projects).  Management.  OPAL  is expected  to  be  profitable by FY25 if  the government is elected. Approve the use of  gas from new wells. 

  Domestic  electricity  demand is expected to grow  1.1 times  GDP  and  reach  1,750 bu  of power generation  by 2024.  Coal India is our top pick as it is  well-positioned  to capitalize on  the increase Head of the electricity industry.  Coal  aims to produce 780 million tonnes  in FY24E (up 12%  year-on-year).  It offers  an  attractive dividend yield of 5.6%. 

  SIEMENS (Siemens  SA)  

 BUY | CMP: 3960 | TARGET:  4,600  |  Increase:  16% 

 Siemens is targeting  domestic market  opportunities within the government. and  private  investment. PLI-led spend of  ₹4t  over 4-5 years could expand the addressable market.  The possible merger and  listing of  Siemens  India Energy  business is expected to pave the way  for  value creation  over the next 2-3 years. We expect Siemens to  record an  EBITDA/PAT  CAGR  of 18%/19% over FY23-26.  

 HEROMOTCO (Hero MotoCorp Ltd) 

 BUY | CMP: 4138 | TARGET: 4480 |  Increase:  8% 

 Domestic  demand for  2W  saw  a  strong  recovery during the festive period, extending into December  due to record  numbers of weddings,  especially in  the Central and Northern  regions.  The recovery of  its core product portfolio, coupled with  a  well-planned  expansion  strategy  in  the electric and  premium  vehicle space, has helped  Hero better  position itself  in  the  2W OEM space. We  forecast  volume CAGR  of 7%  over  FY23-25,  leading to  NPAT CAGR of 21%.  DALBHARAT (Dalmia Bharat Ltd) 

 BUY | CMP: 2274 | TARGET:  2,800  |  Increase:  23% 

  As part of  the Dalmia 2.0 initiative, management has prioritized four key areas:  growth,  financial performance,  maintaining trust and  organizational development.  The company  aims to increase its cement grinding capacity to  75 mtpa/110-130 mtpa  by  FY27/2031.  We expect volume CAGR of ~11%  in  FY23-26  and  estimate  EBITDA/tonne  of ₹1,150 in  FY25.  

 KAJARIACER (Kajaria  Céramique  Ltd) 

 BUY |  WPC:  1303 | TARGET:  1,580  |  Increase:  21% 

  Expectations  of  demand  recovery, supported  by  real estate  growth  and  the company’s  expansion  plans into  smaller  towns,  could drive volume growth.  Additionally,  India is likely to become the largest  brick  exporter by  2025.  We believe  NPAT CAGR of  26%  over  23-26E, high margins  (RoCE of 27% in  2026) and a  healthy balance sheet  should  help Kajaria maintain premium multiples.  PNBHOUSING (Pnb Housing Fin Ltd) 

 BUY |  WPC:  781 | TARGET: 950 |  Increase:  22% 

 PNBHF has  converted  its business model  to  retail and aims to increase quarterly disbursements for  affordable housing  to  about 10 billion yen  in the  near future.  We  forecast AGR of 13%/28�  in AUM/PAT  in FY23 to FY26E and  RoA/RoE of  around 2.4%/12.4%  in FY26.  Capital  raise through rights issue has  provided  much-needed  credit  capital, which could  lead to an improvement  in  the ratings.  

 LEMONTREE (Lemon Tree  Hotel Company Limited)  

 BUY | CMP: 120 |  OBJECTIVES:  135 |  Increase:  13% 

 We expect Lemon  Tree  to continue its strong  growth  momentum  thanks to improved  occupancy  and  ARR  as well as the addition  of hotels under management contracts. Mgt expects  a very  favorable period for the hotel industry  in the  next 4-5 years. We expect Adj.  

NPAT  CAGR of 46%  in  FY23-25  ​​​and  RoE  improves  to 21.5%  in  FY25 

 (14% in FY23). 

  SUNTECK (Sunteck  Real Estate Company Limited)  

 BUY |  WPC:  445 | TARGET: 640 |  Increase:  44% 

  Sunteck’s multi-micromarket  presence, luxury  offerings  and proven  track record  of execution  have made it one of the biggest beneficiaries of  strong demand. The management aims to add at least  INR 150-200 billion worth of  projects  to amplify its active project  portfolio  to  INR 500 billion in  the next 2-3 years. We  forecast a  pre-sales CAGR  of 25% in  FY23-26,  driven  by  accelerated product  launches.  

For more information visit at https://happenrecently.com/zepto/?amp=1