Q2 Update for NPA Provisioning of Banks | New Rules for SME IPOs | Top Buzzing Stocks Today

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On Tuesday, Indian share markets traded on a positive note throughout the trading session and ended marginally higher.

Benchmark indices staged a sharp rebound with the Sensex surging over 1,000 points in intraday trade, rebounding after seven consecutive days of decline amid ongoing foreign selling and lacklustre corporate earnings.

However, as the session progressed, some gains were erased. Indian markets came under pressure during the last hour of trade as Reliance shares fell 2% while other heavyweights like Tata Steel, SBI and L&T also dragged.

The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) were closed on Wednesday, November 20, 2024, due to the Maharashtra Assembly Elections.

At the closing bell on Tuesday, the BSE Sensex stood higher by 239 points (up 0.3%).

Meanwhile, the NSE Nifty closed up by 65 points (up 0.3%).

HDFC Bank, Tech Mahindra and M&M were among the top gainers.

Reliance, SBI and Tata Steel, on the other hand, were among the top losers.

Both, the BSE MidCap index and the BSE SmallCap index ended higher by 0.9%.

Shares of Coforge, Pix Trans, and Aditya Birla Sun Life AMC hit their respective 52-week highs on Tuesday.

Speaking of stock markets, Co-head of Research at Equitymaster Rahul Shah shares a practical guide for building a momentum portfolio, in his latest video.

If you're tired of chasing undervalued stocks, discover the power of momentum investing!

Learn how to identify and capitalize on market trends to boost your portfolio's performance.

Top Buzzing Stocks Today

Yes Bank share price will be in focus today.

The private lender has announced a partnership with Vegapay, a technology innovator in the banking software industry, to launch a hyper-configurable platform called 'Credit Line on UPI'.

Yes Bank, through the platform can create customised credit programmes that suit customers' needs.

The bank can decide whether to offer interest-free or interest-bearing credit, whether or not allow customers to pay in installments (EMIs) and set up rules for different situations through an easy-to-use interface.

Adani Green Energy will also be in focus.

The Adani group kicked off a dollar bond sale on Wednesday after postponing an offering last month when some investors pushed back on pricing.

Units of the group's clean-energy business, Adani Green Energy Ltd. are marketing a 20-year $600 million note at a yield of around 7.75%.

That compares with initial guidance of around 7% for the October deal.

Market participants will also track shares of PG Electroplast.

The company's wholly owned subsidiary has signed an agreement with Spiro Mobility for an exclusive partnership for manufacturing Spiro's EV in India.

The company informed that its primary responsibility includes setting up and managing the manufacturing facilities for electric vehicles, lithium-ion batteries and related components and for procurement of parts and raw materials for the same as specified by Spiro.

Spiro, meanwhile, will be responsible for the research and development, marketing, sale, and distribution of the EV products manufactured by PG Technoplast.

PG Electroplast, the flagship company of the PG Group, established in 2003, is a prominent player in India's electronic manufacturing services (EMS) industry.

The company has positioned itself as a significant player in India's Electronic Manufacturing Services sector, boasting a diversified client portfolio across multiple industries.

In line with its long-term strategy, the company is working to reduce its reliance on Chinese imports by increasing domestic value addition over the next 2-3 years.

This aligns with the broader confidence in India's growth prospects, particularly given the low penetration of products such as air conditioners and washing machines, which are expected to fuel future demand.

Moreover, the company is aiming to secure a PLI incentive of Rs 300 m and an additional state benefit of Rs 6 m for the current financial year.

Trump to Unleash Tariffs on China in Early 2025

According to reports, Trump could impose nearly 40% tariffs on imports from China early next year, a Reuters poll of economists showed, potentially slicing growth in the world's second-biggest economy by up to 1 percentage point.

The poll, the first on China's economy by Reuters since Donald Trump's sweeping election victory on Nov. 5, also predicts that the President-elect will resist starting off with blanket 60% tariffs on Chinese goods.

Trump, who is due to take office in January, pledged during campaigning to slap hefty tariffs on Chinese imports as part of a package of "America First" trade measures, causing unease in Beijing and heightening growth risks for China.

But what about India?

We believe an interesting four years lie ahead for financial markets.

Navigating Trump's policies as well as his occasional eccentricities will become par for the course.

But such developments should not distract investors from their main job of identifying fundamentally strong stocks trading at reasonable valuations so as to buy them for the long term.

Leave the politics to the politicians and the news media.

For more, check out: What Trump's Victory Could Mean for the Indian Stock Market.

Bitcoin Breaches $94,000

Price of bitcoin rose to a record high above $94,000 on Wednesday as a report that Donald Trump's social media company was in talks to buy crypto trading firm Bakkt added to hopes of a cryptocurrency-friendly regime under the incoming Trump administration.

The world's biggest crypto has now more than doubled in 2024.

Even if someone had bought Bitcoin or any of the popular crypto a month ago, they'd be laughing all the way to the bank.

To say this month was good for crypto investors would be an understatement...

• Bitcoin: +35%
• Ethereum: +17%
• Dogecoin: +170%
• MicroStrategy: +96%

With this sharp run-up, Bitcoin has now become the best performing asset of the decade. This is not a typo... Bitcoin has achieved a CAGR of 100%!

These numbers are wild to think about.

So, what next from here on? Will the CAGR of bitcoin slow down or accelerate? Well, the easy answer is that an asset's CAGR will drop as it gets bigger.

But one thing is getting clear every passing day. Bitcoin has shown strong potential as a long-term asset, and many experts anticipate significant growth in its value over the coming years.

An investment like a Bitcoin should not be where you park your maximum savings. They should be the high risk-high return part of your overall corpus.

Our "fundamental" take on cryptos is in line with the approach anyone should have when dabbling in a space one does not understand. Invest in only what you can afford to lose and nothing more.

NPA Provision for Banks Moderates

Provisioning for bad loans by banks fell in the September quarter for the second consecutive period based on year-on-year comparison driven by the public sector banks (PSBs).

For a sample of 29 publicly listed banks, provisioning for non performing assets (NPA) fell by 2.9% to Rs 27,318.2 crore.

For PSBs, it fell by 11.6% to Rs 14,628.3 crore with half of them reporting a year-on-year drop in loan loss provisioning.

PSBs including Punjab National Bank, Central Bank of India and Indian Overseas Bank recorded 82-93% fall in the NPA provisioning.

On the other hand, private sector banks showed 12.5% increase in NPA provisioning for the quarter to Rs 12,690 crore, led by select banks including ICICI Bank, Axis bank, Kotak Bank, IDBI Bank and Federal bank.

New Rules for SME IPOs

The Indian market regulator has sought feedback on a proposal to raise the application size of IPOs of small and medium companies to up to Rs 4 lakh on account of the sharp rise in the market size and with a view to protect smaller retail investors.

The regulator released a consultation paper and sought public feedback on the suggestions made by the stock exchanges and merchant bankers.

The above move comes in the wake of growing number of SME issues that has led to significant investor participation.

However, the above proposal will not require any change in current allocation categorisation in SME IPO which mandates not less than 35% allocation to retail individual investor in book build issue and minimum 50% allocation to retail individual investor in fixed price issues, since under retail individual investor category applications of amount up to two lakhs are permitted.

The paper also seeks opinion in respect to appointment of monitoring agency including making it compulsory irrespective of issue size.

Suggestions have been made to decrease the threshold of issue size requiring such appointment from Rs 100 crore to either 50 crore / 30 crore / 25 crore / 20 crore.

From the recent SME listings, we can see that investors are pouring a lot of money into small companies. But there is one thing an investor must take note of. We are talking about a IPO market bubble.

There might be an instance where companies with average fundamentals may get listed equally to a company with strong fundamentals due to the bullish market sentiment and high subscription numbers.

So, as an investor, you must not get caught up in the IPO frenzy but rather study the underlying fundamentals of the company and also look at valuations and how it compares with the listed peers.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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