Apple will enter the credit card business.
Apple will enter the credit card business.
Apple might launch a credit card with a co-brand; In May ’23, MFs devoured Zomato, Nykaa, etc.; Derivatives Positive research about Interglobe; Indians are rapidly withdrawing their deposits from Swiss banks.
With the help of HDFC Bank, US technology giant Apple intends to launch Apple credit cards. If RBI permits, the credit cards might be referred to as Apple Cards, according to MoneyControl. Additionally, the internet giant plans to introduce Apple Pay, which would compete with services like PhonePe, Amazon Pay, and Paytm wallet. The Apple card and Apple Pay might be connected. Customers will receive interest on any remaining balance in their Apple Pay wallet. Additionally, they will receive offers for discounts and rewards on purchases made with Apple cards.
Prabhudas Lilladher expects this stock to increase by 20%.
Fortis Healthcare’s price target has lifted from 330 rupees to 365 rupees by brokerage company Prabhudas Lilladher. The stock’s closing price on Friday was 304 rupees. The brokerage firm forecasts a 20% increase in the stock from its present price. The firm estimates that the stock is currently trading at a 20–25% discount to its peers. The brokerage is optimistic about the likelihood of the hospital stock’s margin improvement.
In May ’23, MFs devoured Zomato, Nykaa, etc.
In May 2023, according to a report by the Economic Times, mutual funds swooped up shares of undervalued stocks by taking advantage of declining share prices. These stocks are Engineers India, Infosys, Indus Towers, Crompton Greaves, Vodafone Idea, Nykaa, Suzlon Energy, HDFC Life Insurance. Retail investors keep careful tabs on the investments made by FIIs and mutual funds. The purchase of these companies’ equities by mutual funds could increase retail interest in these stocks.
Bullish Derivatives Research on Interglobe
Senior VP of Derivatives Research Akshay P. Bhagwat has recommended three stocks. He believes that these three suggestions will enable investors to increase their profits at a time when market valuations are close to all-time highs. His top suggestion is NTPC. 240 rupees is the target price set by Bhagwat, with a 170 rupee stop loss. NTPC closed on Friday at 186 rupees per share. Interglobe Aviation is his second suggestion.
With a 2380 rupee stop loss, Bhagwat set a target price of 2,900 rupees for the stock. Investors should buy more Interglobe on dips, he has said. Exide Industries is his third suggestion. With a 200 rupee stop loss, he set a target price of 290 rupees for the stock.
Indians are rapidly withdrawing their deposits from Swiss banks.
Since then, reports of Indians keeping illicit money in Swiss bank accounts have been made public. There have been withdrawals from Swiss banks of deposits. Bank deposits made by Indian nationals in Switzerland totaled 6.5 billion Swiss francs in 2006. The Swiss National Bank’s most recent statistics shows that by 2022, Indians’ deposits with various banks in Switzerland will have almost halved to 3.42 billion Swiss francs.
However, the Indian government has refused to acknowledge that the deposits represent illicit funds. In relation to remittances sent from India to Switzerland, the Swiss National Bank has additionally stated that it maintains frequent contact with Indian authorities. There is no evidence that this money was illicit.
Invicto ebook for Rs 25,000: Maruti
Maruti Suzuki has hinted at the Invicto, a forthcoming MPV. Touted as Toyota’s flagship car Innova’s rival, Maruti has already kick-off bookings of the MPV on its website. Customers can e-book the model for 25,000 rupees. According to media reports, Maruti has already begun dispatches of the car to dealers even before launch. Invicto will be sold at Nexa stores.
Gov may cut fuel prices by Rs 4-5 per litre
Government can cut petrol and diesel prices in run up to state elections in November-December period, this year. According to a report published by a financial services company, considering trajectory of international crude oil prices, government might cut mobility fuel prices by 4 to 5 rupees per litre. In 2022, fuel costs last went down. The government has not cut fuel prices so far in current year. Cut in mobility fuel prices will give relief to citizens.
‘Make in India’ chips from Dec ’24: Vaishnaw
After made in India iPhones now computer storage chips will also be made in India. Briefing media, Union Minister for Communications and IT Ashwini Vaishnaw said on Friday US based computer storage chip maker Micron will set up its semiconductor assembly plant in Gujarat. By December next year, India will be manufacturing semiconductors right here. This will reduce the need for import of computer chips. It will also reduce the burden of fiscal deficit on the government. It will also help reduce waiting period of passenger vehicles.
MPC close to damaging economy: MPC member
As per the minutes of the MPC meet held earlier this month, a member of the RBI’s monetary policy committee has made some startling revelations. The member has said that the RBI’s committee is dangerously close to levels at which it can inflict significant damage to the economy. The committee had kept the repo rate unchanged for second time in a row after increasing it to 6.50%. The other day, RBI governor Shaktikanta Das said inflation flight was only half over. CPI retail inflation for the month of May 2023 had fallen to 26 months low of 4.25%.
