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Bearly there – Upstox

Nifty50: 17,314 17 (-0.09%)
Sensex: 58,191 30 (-0.05%)

Hi there!

Most of us have struggled with peeling eggs. But there is a viral video in which a man peels an egg by simply blowing into it. It’s the perfect example of the fact that sometimes seemingly difficult tasks have the simplest solutions. Just like the easiest way to make money is by investing.

  • Markets closed marginally negative on Friday, breaking the two-day winning streak.
  • In all, 32 of the Nifty50 stocks closed in the red.
  • The rupee fell to another record low of 82.43 against the US dollar.

Among the Nifty sector indices, Media (+0.3%) and Realty (+0.3%) were the biggest winners, while Oil & Gas (-0.7%) and IT (-0.7%) were the biggest losers .

Top winners Today’s change
Titan 2,730 137 (+5.3%)
Power grid 209 ▲ 3 (+1.4%)
Grasim 1,702 19 (+1.1%)
Top losers Today’s change
Tata Consumer 781 13 (-1.6%)
BPCL 307 4.6 (-1.4%)
M&M 1,240 16 (-1.3%)

what is trending

⭐ Motherson opens new office in Morocco


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MOTHERSON (NSE): 76.8 ▲0.6 (+0.8%)

Auto parts manufacturer Samvardhana Motherson has inaugurated its new factory in Morocco. According to the company, Morocco is a very strategic location for Motherson due to its proximity to Europe and the Middle East. The new facility will produce components such as instrument panels and door panels for passenger cars and light commercial vehicles.

⭐ Quess Corp sells stake in Simpliance

ASSIGNMENT (NSE): 626 ▼0.3 (-0.04%)

Business services firm Quess Corp. will divest its entire stake in its subsidiary Simpliance Technologies. Simpliance’s enterprise value is estimated at 120 crore. Quess Corp currently owns a 53% stake in Simpliance and will receive a proportionate compensation accordingly.

See also  rupee fell 39 paise to all time low of 8118 against dollar - Business News India

Mahindra Lifespaces forms new JV

MAHLIFE (NSE): 469 1.9 (-0.4%)

Real estate developer Mahindra Lifespaces has formed a new joint venture (JV) with Actis, a leading global investor in sustainable infrastructure. Under the new agreement, the two companies will develop industrial and logistics facilities across India with an initial investment of ₹2,200 crore. Mahindra Lifespaces will have a significant minority interest in the JV.

Indian Hume Pipe wins new order

INDIANHUME (NSE): 177 14 (+8.9%)

Shares of pipe manufacturer Indian Hume Pipe rose more than 14% today. The company has won a new project worth 194 crore from the government of Maharashtra in the context of rural water supply. The project will be completed in 24 months. The value of the new order is equivalent to nearly 13% of the company’s revenue in FY22.

in focus

Jewelry stocks glitter

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Shares of major jewelry makers such as Titan, Kalyan Jewelers and PC Jeweler rose 4-5% on Friday. Robust quarterly corporate updates from Titan and Kalyan Jewelers are negatively impacting other stocks. But what makes jewelry stocks sparkle? Read on to find out:

During the September quarter, Titan’s jewelry segment reported 18% year-over-year growth and added 25 new stores. Meanwhile, Kalyan Jewelers posted a 20% consolidated sales growth and added five new showrooms during the period.

Market experts say strong sales growth is attributed to pent-up demand and the low base effect from last year. In addition, the prices of 22-carat gold, which is used for jewelry making, fell below ₹50,000 per 10 grams and hovered around ₹49,000 per 10 grams in September, which also acted as a demand trigger.

In addition, the steady economic recovery has also played a role in improving consumer mood and demand for the precious metal. Other factors include the upcoming holiday and wedding season, when demand for gold generally increases.

In anticipation of strong future demand, jewelry makers’ stocks are gaining strong momentum. In fact, Kalyan Jewelers and PC Jeweler hit new 52-week highs today. That said, high inflation and depreciation of the rupee can act as party spoilers.

IPO angle

The IPO of Electronics Mart India received a lot of response from investors. On Day 3, approximately 72 subscriptions were made to the retailer’s public offering of consumer durables and electronics. The section for qualified institutional buyers was subscribed 169 times. The company’s shares will be listed on the stock exchanges on October 17, 2022.

Good to know

What is Divestment?

Divestment is the process by which a company sells its subsidiaries or business units. Divestment is the opposite of investment and is usually done when that business division falls short of expectations. However, in some cases, a company may be forced to sell assets as a result of legal or regulatory action.

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