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Investment Archives - victorybull

victorybull

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  • US dollar clings to gains as bets on further Fed hikes firm

    The dollar fought for a footing in choppy trade on Thursday, with support from upbeat U.S. data and hawkish policymaker comments, while the prospect of higher energy prices helped exporters’ currencies and weighed on those of importers.

    The dollar rose 1% on the euro and 1.3% on sterling overnight and was trying to hold those gains in bumpy early trade in Asia. The euro has now made two unsuccessful attempts to regain parity this week and last bought $0.9916. Sterling’s rebound from record lows has paused just below $1.15.

    The U.S. services industry posted another month of expansion in September, data showed overnight, while labour market figures were solid and the trade deficit narrowed. San Francisco Fed President Mary Daly reiterated policymakers’ focus on inflation fighting and dismissed market hopes for rate cuts in 2023.

    “I think that just reminded people that you might be a bit premature in trying to price in rate cuts in the U.S.,” said Westpac currency strategist Imre Speizer.”That pushed up rates and pushed up the U.S. dollar,” he said, as the Federal Reserve’s aggressive moves to rein in inflation sets the pace for central banks around the globe.

    “Its one trade for the whole world,” said Speizer. “No one currency’s interest rates are really able to go off and do their own thing independently.“

    Bond markets globally sold sharply. Interest rate futures imply more than 130 basis points of tightening ahead for the Fed before the middle of next year. [US/][GVD/EUR][GB/]

    The U.S. dollar index wobbled 0.06% lower to 110.86, off lows near 110 from earlier in the week, though some distance below last week’s 20-year high of 114.78.

    Sterling last bought $1.1367, while the Australian and New Zealand dollars each rose about 0.4%, taking the Aussie to $0.6518 and the kiwi to $0.5772. [AUD/]

    The yen, which has been held steady by the risk of further Japanese intervention, sat at 144.57 per dollar.

    The Saudi Arabia-led cartel of oil producers agreed to steep production cuts on Wednesday, lifting Brent crude futures to a three-week high of $93.99 a barrel. [O/R]

    “Higher energy prices would have a much more direct impact on the European region given the more direct relationship to their finances,” said NatWest Markets’ strategist Jan Nevruzi.

    Later on Thursday the European Central Bank releases minutes from last month’s policy meeting. Traders are also awaiting Friday’s U.S. labour market data to gauge how fast and far the Fed might be willing to lift interest rates.

  • As the yen falls on the dovish BOJ, the dollar reaches a 20-year high and the euro a 5-year low

    The dollar rose to a 20-year high against its peers on Thursday as the Bank of Japan maintained its dovish stance, sending the yen to its lowest level since 2002 and the euro to a five-year low amid concerns about the region’s economic growth.

    The dollar soared beyond 130 yen as the Bank of Japan reaffirmed its commitment to maintaining ultra-low interest rates by promising to buy an infinite number of bonds everyday to meet its yield target.
    Given the pressure mounting throughout foreign exchange markets, there had been considerable market speculation that the BOJ might take a step back.

    After reaching a high of 103.93, the dollar index was last seen at 103.73, up 0.74 percent for the day.

    After data showed that the US economy unexpectedly fell in the first quarter due to a resurgence in COVID-19 cases, the greenback lost ground.

    Rai, on the other hand, claimed that the data did not necessarily show a sluggish economy, but that it was skewed by a much higher trade deficit caused by rising imports.

  • Sebi penalises NSE, BSE for laxity in Karvy Stock Broking case

    India’s markets regulator on Tuesday fined BSE Rs 3 crore and the National Stock Exchange (NSE) Rs 2 crore for “laxity” in detecting misconduct by Karvy Stock Broking (KSBL).

    The Hyderabad-based brokerage misused securities worth Rs 2,300 crore belonging to more than 95,000 clients by pledging them without authorisation, said the Securities and Exchange Board of India (Sebi). The firm and its group entities used funds the to raise Rs 851 crore from eight banks.

    “Without doubt, it was KSBL which misused clients (sic) securities by unauthorisedly pledging them and was thus responsible for loss caused by pledging securities which it did not own, including loss to investors as well as loss to banks and NBFCs who loaned funds to KSBL against securities which did not belong to KSBL,” said Sebi.

    Noticee (BSE & NSE), which resulted in delayed detection of the misconduct by KSBL and the Noticee needs to be held accountable for the same,” Sebi said in two separate orders against the country’s leading stock exchanges.”

    Sebi had examined details of inspection and action taken by NSE and BSE against KSBL conducted between 2016 and 2019. It further asked the exchanges to furnish the procedure they followed to ensure reconcillation of clients’ securities.

    Sebi’s investigation found lapses on the part of both exchanges.

    In 2019, Sebi had passed an ex-parte ad-interim order against KSBL when the unauthorisedly pledging issue came to light. Efforts taken by Sebi, depositories and exchanges helped KSBL’s clients recover their dues.

    In December 2019, depository firm NSDL had said securities were returned to 82,559 clients from the KSBL Demat account. In November 2020, NSE had said funds and securities worth Rs 2,300 crore belonging to about 235,000 investors of KSBL were settled.

    After the KSBL investigation, Sebi changed norms around pledging of shares to prevent misuse by brokerage. The regulator did away with the concept of power of attorney which earlier allowed brokerages gain access to client securities.

  • Fishin announces Rs.1000 crore investment in Telangana

     Fishin, a world-renowned company in import of Tilapia fish, is investing Rs.1, 000 crore in Telangana for setting up the largest freshwater aquaculture project in the world.

    The company will be setting up the project near Mid Manair reservoir, Rajanna Sircilla district.

    This announcement was made by the company Chairman and CEO Manish Kumar after his meeting with Industries Minister KT Rama Rao at San Jose on Thursday.

    The Company, the largest importer of Tilapia variety of fish in the world and the largest importer of frozen food into the US, announced this investment of Rs 1,000 crores in a fully integrated freshwater fish culture ecosystem including hatcheries, feed manufacturing, cage culture, processing, and exports.

    The project will produce 85,000 MTs of Tilapia fish per year using cage culture methodology. It will also generate direct employment for 3,000 people and another 2,000 people will benefit by way of indirect employment.

    Minister KT Rama Rao thanked the team of Fishin’ for choosing Telangana as their investment destination. He assured that the State government would extend all cooperation to the company.

    He said that the Telangana Government’s investment in Agriculture and Irrigation sectors was bearing fruit. The State was witnessing a second Green Revolution and a Blue Revolution, he informed.

    The Industries Minister appealed to the Fishin’ firm to give preference to the local fishermen community and Mid Manair Project displaced households while hiring.

    Industries Department Principal Secretary Jayesh Ranjan, Director – Food Processing Akhil also participated in the meeting.

  • Stalin in UAE: Lulu Group to invest Rs 3,500 crore in Tamil Nadu

    The multibillion-dollar Lulu group of Keralite NRI businessman M.A. Yusuf Ali will be investing Rs 3,500 crore in Tamil Nadu. This was announced by the group chairman and Managing Director M.A. Yusuf Ali while attending the investors’ meet of Tamil Nadu in Dubai.

    The meet was organised by the Tamil Nadu state government on Saturday. Chief Minister of Tamil Nadu, M.K. Stalin, who is on a four-day tour of the Middle East to scout investments, was present at the meet.

    The Lulu group will build two shopping malls and an export-oriented food processing unit.

    The group, according to a statement from the Tamil Nadu Chief Minister’s office will ink the Memorandum of Understanding on Monday in Abu Dhabi. The Lulu group Chairman M.A. Yusuf Ali in a statement said that the group would commence construction of the malls soon and will provide employment to 5,000 people in the two malls.

    Tamil Nadu Chief Minister M.K. Stalin in his speech said that ever since he assumed office as the Chief Minister, the state has signed 124 MoU’s attracting an investment of 8 billion dollars creating employment opportunities for 20,000 people.

    He said that the target of a trillion economy by 2030 is achievable and that the state has chalked out several programmes and activities, including developing infrastructure, upskilling the workforce to improve productivity, and taking up measures to attract investments in new sectors like electric vehicles, technical textiles, and other sectors.

    The Chief Minister also invited industrialists from the UAE to invest in food processing, hospitality, food parks, and real estate sectors in Tamil Nadu.

    He also appealed to the investors from Dubai to invest in a massive furniture park that was coming up at Thoothukudi in Tamil Nadu.

  • Game-streaming platform Loco raises Rs 330 cr in Hashed-led funding round

    India’s leading game-streaming platform Loco said it had secured Rs 330 crore ($42 million) in an investment round led by Hashed. Besides Makers Fund, Catamaran Ventures, and Korea Investment Partners, all investors from the company’s seed round, including Krafton, Lumikai, and Hiro Capital, also participated in this round. The new investment will cement Loco’s current leadership position in game streaming and further accelerate its streaming technology and content initiatives. With this new fundraising, Loco will “continue investing in the development of the Indian gaming ecosystem and nurturing the Indian gaming community”.

    “We started Loco with a mission to democratise gaming and this investment will help us make significant progress towards our end goal,” said Anirudh Pandita and Ashwin Suresh, founders of Loco. “Today, we are the platform where gamers go from being newbies to becoming gaming superstars. Loco is actively transforming the entertainment experience for Indian users and we are excited about the new investors joining us in building the future of entertainment.”

    Loco has been a pioneer in the live game streaming and esports sector in India, paving the way for gaming to go from a niche hobby to the mainstream national interest. The platform is home to India’s most popular streamers such as Sc0ut, Mavi, Godlike’s Jonathan, Villager Esports, and 8Bit-Thug. Loco has built highly engaged communities across various games including BGMI, Call of Duty Mobile, Clash of Clans, Grand Theft Auto (GTA), and Valiant. The platform houses India’s top esports teams like Godlike, XO, Revenant Esports, and Hyderabad Hydras. It has hosted the country’s largest tournaments in partnership with global publishers like Krafton, Activision, Ubisoft, and Riot Games.

    Loco has grown rapidly over the last year, with daily active viewers scaling by 15x, monthly active viewers scaling by 8x, monthly active streamers scaling by 5x, and live watch hours scaling by 78x since Jan 2021. Today, highly active users spend over 1 hour daily on Loco, making it the gaming community’s platform of choice for a seamless streaming and highly engaging fan experience.

    The company believes that gaming will define the customer entertainment experience over the next decade. Powered by 5G, gaming will make entertainment more immersive, providing users with immensely enjoyable social experiences in virtual worlds. In addition, Web3 will transform the nature of ownership of virtual goods, allowing fans to participate in the entertainment process in a more meaningful manner than has ever been possible before. With these tailwinds driving consumer behaviour, Loco wants to build the social experience platform for the virtual world, serving the over 700 million Indians who will experience these virtual worlds in the coming years.

  • Indian investors can trade in select US stocks via NSE IFSC from March 3

    From March 3, investors in India will be able to trade in select US stocks through the NSE International Exchange (NSE IFSC), a wholly owned subsidiary of the National Stock Exchange (NSE). Investors can invest in NSE IFSC receipts on US stocks, which will be in the form of unsponsored depository receipts (DRs).

    For a start, this will include DRs of 50 US stocks such as Apple, Alphabet, Amazon, Tesla, Microsoft, Morgan Stanley, Nike, P&G, Coca-Cola, and Exxon Mobil.

    Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalised Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI), which currently stand at $250,000 per year.

    Resident investors will have to open a demat account at the IFSC and the stock receipts will be considered foreign assets for filing income tax returns. Short-term capital gains will be taxed at the slab rate while long-term capital gains will be at 20 per cent with indexation.

    “The business model offered by NSE IFSC will not only provide an additional investment opportunity to the Indian investors but also make the entire process of investment easy and at a low cost. Investors will be provided an option to trade in fractional quantity/value when compared to the underlying shares traded in US markets. The proposed framework will make US stocks affordable to Indian retail investors,” said a note put out by the NSE last year.

    Investing in global stocks has gained currency in the past two years in the backdrop of a decades-long bull run enjoyed by US equities and the need to avoid a single-country risk.

    Currently, Indian investors buy US stocks through designated online brokers who have permission from Indian and US regulators to offer such services.

  • IT to Hire 50 Lakh in 5 Years, New Investment Opportunity for Middle Class: Rakesh Jhunjhunwala

    Ace investor Rakesh Jhunjhunwala said that the stock market has no king. Stock market is the only king. The ones who thought they were, landed up in Aurthur jail, Jhunjhunwala said while speaking at an event of the Confederation of Indian Industry (CII) on February 17.

    Nobody can predict weather, death, market and women, the ace investor further mentioned. “Market is like a woman, always commanding, mysterious, uncertain and volatile. You can never really dominate a woman and likewise you cannot dominate the market,” he said.

    Sharing the outlook for Indian economy, Big Bull said that India will grow at 10 per cent by 2025-26. The ace investor added that he made a presentation to Prime Minister Narendra Modi where he had said, “India ka time aayega nahi, aa gaya hain.”

    Optimistic Jhunjhunwala said that growing information technology (IT) industry will employ 50 lakh new employees in the next five years and the demand for the residential houses will only grow.

    The seasoned investor is very optimistic about real estate industry in the country. With the development of infrastructure comes urbanisation. Urbanisation plays an important role in housing and commercial real estate property, he mentioned.

    “You go to London, wherever the metro goes, housing has developed. So, Mumbai is making 40 kilometer of metro and it has been made — as the transport systems come, the potential for housing is going to go through the roof. Your cities are going to get decongested and urbanisation in India is today half of China-45 percent, as urbanisation comes, housing has to come,” Jhunjhunwala said.

    Consolidation in the real estate sector, all-time low interest rates on home loans, rising employment in the Indian information technology (IT) industry are some of the key triggers to boost real estate sector going forward, Rakesh Jhunjhunwala mentioned.

    India should focus on affordable housing. The regulatory framework has to evolve further to keep up with the pace of growing real estate market in India. “Digitisation of land records and certification of titles being done digitally and this will boost real estate market in India,” he said.

    Jhunjhunwala is also very bullish on commercial real estate. Logistics sector is at a nascent stage and very attractive, he said. “If India has to develop, real estate has to develop,” he said.

    The real estate investment trusts (REITs) has great scope, he mentioned adding that the units of three REITs that are listed on local stock exchanges being well received by the investing community. He would prefer REIT listing rather than listing real estate companies. Jhunjhunwala further said he is not a big fan of new developers getting listed. “If I was a developer, I would not list. It’s not a business suitable to listing. Blue Chip companies have high return on capital of 18-25 per cent, but unitl now realtors have only burnt capital,” Jhunjhunwala said.

  • ₹34 to ₹142: Small-cap multibagger stock gives 300% return in 2022

    Amid stock market investors are busy finding out possible multibagger stocks for 2022, a good number of small-cap stocks have entered the list of multibagger stocks and multibagger penny stocks in 2022. Shares of Variman Global Enterprises are one of them. This BSE listed IT solution company stock has surged from ₹34.35 (close price on 31st December 2021 on BSE) to ₹141.90 apiece levels today, logging around 300 per cent rise in 2022.

    In last one week, multibagger stock has risen from around ₹124 apiece levels to ₹141.90 levels, logging around 14.50 per cent raise in this period. The small-cap stock has hit upper circuit on 3 out of 5 sessions in this period. In last one month, the small-cap IT stock has risen from around ₹52 to ₹141.90 levels, appreciating around 175 per cent in this period. Similarly, in year-to-date time, the multibagger IT stock has delivered more than 300 per cent return to its shareholders.

    Impact on investment

    Taking cue from Variman Global Enterprises share price history, if an investor had invested ₹1 lakh in this multibagger IT stock one week ago, its ₹1 lakh would have turned to ₹1.14 lakh today. Likewise, if an investor had invested ₹1 lakh in this stock one month ago and had remained invested in this stock till date, its ₹1 lakh would have turned to ₹2.75 lakh today.

    Similarly, if an investor had invested ₹1 lakh in this stock at the end of 2021 buying one stock at around ₹34.50 apiece levels, its ₹1 lakh would have turned to ₹4 lakh today, provided the investor had remained invested in the scrip throughout this period.

    On Tuesday trade session, the multibagger stock climbed to its life-time high of ₹143.55 levels whereas its 52-week low is ₹11.65 apiece. Current market capital of the small-cap stock is ₹237 crore and its book value per share is 9.60. Its current trade volume is 88,457, which is much higher than its 20 days average volume of 62,432.

  • Multibagger stock turns ₹1 lakh to ₹1.35 crore in 10 years

    Stock market investors looking for multibagger stocks for 2022 are busy finding quality stocks that are available at discounted price after the recent bloodbath. For such investors of the secondary markets, Deepak Nitrite can be a good bet in long term, say experts. Stock market experts said that the stock has shed a lot and there can be sharp rebound in the counter from lower levels, once there is trend reversal in the markets. This chemical stock is one of the multibagger stocks in 2021 that have delivered stellar return to its shareholders in long term.

    For last six months, this multibagger stock has been under selloff heat. In last one month, Deepak Nitrite share price has come down from around ₹2660 to ₹2058 levels, sliding near 22 per cent in this time whereas in last 6 months, it has lost around 4 per cent. In year-to-date time, this chemical stock has plummeted from ₹2530 to ₹2058, losing near 19 per cent in 2022. Despite such huge selloff by shareholders, the stock has delivered 75 per cent return to its shareholders in last one year. In last 5 years, the multibagger stock has risen from ₹103.65 to ₹2058 apiece levels, logging near 1900 per cent in this period.

    Similarly, in last 10 years, this multibagger chemical stock has surged from ₹15.21 levels (close price on 17th February 2012 on NSE) to ₹2058 levels (close price on 14th February 2022 on NSE), appreciating around 135 times in this time span.

    Taking cue from Deepak Nitrite share price history, if an investor had invested ₹1 lakh in this chemical stock one month ago, its ₹1 lakh would have turned to ₹78,000 today whereas it would have turned to ₹96,000 in last 6 months. If an investor had invested ₹1 lakh in this stock one year ago, its ₹1 lakh would have turned to ₹1.75 lakh today. Likewise, if an investor had invested ₹1 lakh in this multibagger chemical stock 5 years ago and had remained invested in the counter till date, its ₹1 lakh would have turned to ₹20 lakh today.