Business News at 05:30 pm on 4th December 2023

Let’s begin…In a report released, CLSA outlined its strategic approach, emphasizing a preference for large-cap liquid stocks for capital protection and mid-cap stocks for growth opportunities. The brokerage’s “Bharat story basket” integrates macro drivers, strategic sector drivers, and current market volatility. The brokerage’s stock selection is grounded in three defensive principles: sectors that have underperformed, traditional defensives, and stocks with positive upcoming events. CLSA’s recommended stocks such as, Axis Bank , Bharti Airtel, Hindustan Unilever, ICICI Bank, Tata Consultancy Services, State Bank of India (SBI), Mahindra & Mahindra (M&M), NTPC, Sun Pharma, and UltraTech Cement. Emphasizing the track record of consistent returns, CLSA also spotlighted midcap stocks such as Zomato Ltd, PVR Inox, Delhivery Ltd, Prestige Estates, and One 97 Communications Ltd (Paytm) for their long-term value.

Next up…Thе third quartеr of 2023 has bееn a dynamic pеriod for India’s rеal еstatе sеctor, witnеssing shifts and trеnds that surprised both invеstors and industry еxpеrts. Take a look at thе kеy dеvеlopmеnts that havе shapеd thе landscapе of real estate in India and what thе futurе holds for it. In Q3 2023, thе Indian rеal еstatе markеt saw fresh signs of rеcovеry, displaying rеsiliеncе in thе facе of global еconomic uncеrtaintiеs. Rеsidеntial dеmand rеmainеd robust, fuеlеd by factors such as urbanization, favorablе dеmographics, and policy reforms. Thе rеal еstatе markеt in India has showcasеd rеmarkablе rеsiliеncе, adapting to changing dynamics. Thе sustainеd dеmand for rеsidеntial propеrtiеs is indicativе of thе sеctor’s ability to wеathеr storms and providе stablе invеstmеnt opportunitiеs.

Additionally…Adani Ports and Special Economic Zone Limited (APSEZ), a part of the diversified Adani Group, on Monday announced that it has recorded strong cargo volumes of around 36 MMT in the month of November 2023, up 42 per cent year-on-year. In the initial eight months of FY24 (April-November 2023), APSEZ handled around 275 MMT of cargo, up 21 per cent on-year. This, it added, marks over 70 per cent of the top-end of its full-year guidance range of 370-390 MMT. Adani International Container Terminal Private Limited (AICTPL), the joint venture terminal at the Adani Ports and Special Economic Zone in Mundra, achieved a milestone by successfully handling over 3,00,000 containers in the month of November.

In other news, the Union labour ministry has reportedly issued a show cause notice to Tata Group-owned Air India Express over alleged violations of regulations related to disputes with the airline’s management and cabin crew members. The notice is in response to concerns raised by cabin crew members, including issues such as room sharing during layovers. A complaint was filed with the labour department, and the matter is currently under conciliation as per the Industrial Disputes Act, 1947. This section pertains to conditions of service remaining unchanged during the pendency of conciliation proceedings. The Air India Express Employees Union (AIXEU) had previously written to the civil aviation minister, Jyotiraditya Scindia, expressing various grievances about the cabin crew members.

On to some serious news….The Asian Development Bank (ADB) announced the launch of an initiative to address the adversities of climate change in the Hindu Kush Himalayan region, a vital source of water for billions of lives. According to ADB, the Hindu Kush Himalayan region (ranging from Afghanistan to Myanmar) can lose up to 75 per cent of the glaciers by the end of the century, causing frequent hazards, day zeros, loss of biodiversity and climatic catastrophe. This can occur if the global temperature rise by 3 degree Celsius. The worst-affected regions from this would be Nepal and Bhutan, where multi-hazard threats, including landslides, earthquakes, and floods would become a regular occurrence.

Meanwhile….Kalpataru Projects International Limited (KPIL) on Monday announced that the company and its international subsidiaries have secured new orders/notification of awards worth Rs 2,263 crore, it said in a regulatory filing. Further elaborating on the order, KPIL said that T&D business recorded an order worth Rs 1,564 crore in India and overseas markets, the water business posted an order of Rs 458 crore and the B&F business received an order of Rs 241 crore. KPIL is one of the largest specialized EPC companies engaged in power transmission & distribution, buildings & factories, water supply & irrigation, railways, oil & gas pipelines, urban mobility (flyovers & metro rail), highways and airports.

Lastly, let’s see how the share market performed today. The benchmark equity indices ended Monday’s trading session in the positive territory. The NSE Nifty 50 soared 418.90 points or 2.07% to settle at 20,686.80, while the BSE Sensex jumped 1383.93 points or 2.05% to 68,863.93. The broader indices ended in positive territory, with gains led by Largecap and Smallcap stocks. Bank Nifty index rallied 1617.20 points or 3.61% to settle at 46,431.40. Banking and Oil & Gas stocks outperformed among the other sectoral indices while Media and Pharma stocks shed. Eicher Motors, Adani Enterprises, Adani Ports & SEZ, BPCL and ICICI Bank were the top gainers on the NSE Nifty 50, while the laggards HDFC Life Insurance, Britannia Industries, HCL Technologies, Sun Pharma, and Wipro Company.