Profit 360 | Nifty, Sensex Close Flat | NDTV Profit
- #Nifty, #Sensex close flat
- Hindenburg Show Cause Case: SEBI likely to pass order after completing probe
Tune in to 'Profit 360' with Nupur Talwar Suri for top news of the day. #NDTVProfitLive
- Hindenburg Show Cause Case: SEBI likely to pass order after completing probe
Tune in to 'Profit 360' with Nupur Talwar Suri for top news of the day. #NDTVProfitLive
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NewsTranscript
00:00Crude slips below $70 a barrel, prices slip to two-month low as Middle East conflict widens.
00:12Car makers hope for festive cheer as they stock dealerships ahead of the festive season.
00:17Automakers report sales uptick for the month of September.
00:22Bajaj Auto zooms fast TVS in two-wheeler EV sales, closes in on Ola Electric as the market
00:28leader clocks its lowest monthly sales so far this year.
00:34SpiceJet clears employees' salary dues worth Rs 120 crore after clearing pending GST dues.
00:43The Directorate General of Civil Aviation approves merger of AIX Connect with Air India
00:48Express.
00:49Aviation regulator says it will closely monitor post-merger operations.
00:54In a bid to tighten the noose on insider trading, market regulator SEBI expands the definition
01:01of connected persons, or persons who have access to price-sensitive information.
01:09Final phase of J&K elections are on the way, 40 out of 90 constituencies vote to decide
01:15the fate.
01:16Let's begin with a look at how the stock markets fare today.
01:46Nifty and Sensex closed flat and extended their losing streak to a third session.
02:16What really moved today was IT, because we had a constructive CLSA note on Tech Mahindra,
02:26but even outside of that, Infosys did very well in terms of contributors.
02:30On the Nifty, what didn't do well in terms of contributors were the heavyweights, HDFC
02:34as well as RIL.
02:36Closing in the red, RIL down nearly a percent-plus now at close.
02:40HDFC bank around a fifth of a percent lower.
02:42Those were the key drags.
02:44But outside of that, you saw a pocket which didn't do well, something like an IndaSynd,
02:49something like a Bajaj Auto within the auto pile, Bajaj Auto, Tata Motors, the numbers
02:54were disappointing for September, and therefore, those stocks were languishing.
02:59What also did well was M&M, because very, very strong numbers, 1.7 percent higher at
03:04close.
03:05Let's pull up the heat map for the sectors, because that'll also give us a good picture
03:09of what happened through the day.
03:11And in terms of sectors, there you go.
03:13You saw Nifty Energy down around three-fourths of a percent, thereabouts.
03:18But you also saw good tangible movement, both in IT, 1.1 percent higher, and you saw Nifty
03:26Media also move around 1.6 percent, of course, more movement on the broader markets for the
03:30Nifty Media.
03:31Nifty Auto held up in the green, so not bad at all.
03:35But the Nifty Bank was absolutely flat, no real big movement on the Nifty Bank.
03:41And that was really summing the day up.
03:43Let's quickly pull up the advanced decline ratio, and we saw good traction, especially
03:51in the broader markets, and therefore, the breadth of the market was decent.
03:56Let's pull up the mid-cap as well as small-cap indices, which closed in the green at a third
04:01of a percent higher on the Nifty mid-cap, the Nifty small-cap, too, up around two-thirds
04:06of a percent, thereabouts.
04:07So good constructive moves over there.
04:11Let's pull up the BSE 500 last off, take stock of the top losers and gainers.
04:16Some movers, some big movers, Kaplan Point showed very good strength, Weimar, too, on
04:22good volumes.
04:23PB Fintech, there's plenty of moving parts there.
04:26You also had something like Westlife Foods, the top loser on the BSE 500, but along with
04:30it, keep your eye out also on Jubilant Foods, down 3 percent-plus in trade today.
04:35Other financiers had a bit of a dull day after RBI gave it a rap on their knuckles
04:41in terms of process.
04:44That kind of sums up pretty much all the major moves that happened.
04:48Amit Varma of Quadria Capital spoke to NETV Profit, praising the surge in FDA inspections
04:56within the Indian pharmaceutical sector.
04:59He emphasized that India is poised to become the next major market following China.
05:03Have a look.
05:05I think we need to get away from this persecution complex and believe that this is the new world
05:13and this is here to stay.
05:14I also believe that the FDA works on a certain cadence, and it seems like it's coming at
05:20the same time.
05:21But it also talks about their on-ground presence having gone up, and the fact that as we start
05:27to look outside ex-China, India is the next largest market that they have to be looking
05:32at.
05:33So, my sincere request is to view it as the new normal and expect that there will be a
05:40lot more inspections by the FDA.
05:46On to an NDTV Profit exclusive.
05:48SEBI is likely to act against Hindenburg since they have not replied to the market regulator's
05:52show-cause notice.
05:54Shrimi joins in with more.
05:55Shrimi, what are your sources picking up?
05:58So, remember, SEBI has issued show-cause notice to this American short-seller Hindenburg Research
06:05and four others accusing them of colluding to use non-public information to build short
06:11positions against Adani Group.
06:13So, what we are picking up from our sources is that the process of passing the order is
06:19underway.
06:21SEBI is seeking response from all the parties involved, all the alleged accused involved
06:28in the matter, and accordingly, they are going to pass the order and initiate adjudicating
06:34proceedings against all those according to the findings in the matter.
06:40Also, remember that according to the show-cause notice issued by the market regulator, and
06:48the SEBI probe found that these positions, the short positions which they have done,
06:53were called off after the publication of the report, netting a significant profit of about
06:59183 crores.
07:01So, the sources are saying that they are looking at all the evidences.
07:06However, Hindenburg, despite reminders, have not responded to the SEBI show-cause notice.
07:13And if they have not responded in the given timeline, they are going to pass the order
07:17without their response.
07:22India's top automakers are reporting their monthly sales data for the month of September
07:27even as inventory builds ahead of a crucial festive season.
07:30My colleague Dushyant Deep Singh joins in with a detailed overview on the sales numbers.
07:36Hi, Himakshi.
07:38So, essentially, while India's largest carmaker and largest two-wheeler maker have not reported
07:43the numbers so far, we are getting a general sense of where the numbers are headed by looking
07:47at the numbers posted by their immediate rivals.
07:50So, while Mahindra and Mahindra has grown by about 24%, Tata Motors has slumped by about
07:559%, while Toyota India is up 14%.
07:58So, essentially, a mixed bag as far as the carmakers are concerned.
08:03In terms of two-wheelers, while Hero Motor Corp has not reported its numbers, we can
08:07say that in terms of TVS as well as Bajaj Auto have recorded stellar numbers so to speak.
08:16Bajaj Auto's domestic volume is up 28%, TVS has recorded its best ever month so far.
08:23The picture is muted for CV industry, but given the trends that we are seeing so far,
08:27we can actually say that there is an inventory build-up that carmakers and two-wheeler makers
08:33are doing ahead of the festive season.
08:35Remember, our conversations with some industry experts have also indicated that the inventory
08:40levels, which are at about 70 days, may not essentially decline going ahead into the festive
08:46season, but still, carmakers will pack their dealerships with more vehicles.
08:50Himakshi.
08:51Tushar, stay with us.
08:56Bajaj Auto has overtaken TVS Motor to become India's number two electric two-wheeler maker.
09:02So, meanwhile, Ola Electric has seen lowest monthly sales for the second time in a row.
09:07So, Tushar, give us a detailed breakdown of this report.
09:10So, essentially, five years ago when Bajaj launched its Chetak, it's about taken about
09:15five years for Bajaj Auto to come to that level at this point of time.
09:20So, Bajaj Auto and TVS Motors are actually among the incumbents in the electric two-wheeler
09:26space and slowly and gradually, they have garnered market share as well as attention
09:32among electric two-wheeler buyers.
09:34So, right now, at about 20% each, they are competing with Ola Electric, the market leader
09:40as far as market share is concerned.
09:42Volumes have also come up significantly to about 18,000 to 20,000 units as compared to
09:47Ola Electric, which has seen two months of declines in August and September to about
09:5227,000 to 23,000 units so far.
09:55So, what we have seen is that the incumbents have gathered ground.
09:59Ola has slipped.
10:00Meanwhile, we have to also remember about Ather Energy, which is also going for an IPO
10:04at this point of time.
10:05It has also added to its market share and it's sitting at about 14%, shipping it about
10:11growing at about 75% year-on-year.
10:13So, what seemed like an Ola Electric runaway growth still about two months ago, that's
10:20now is equally divided among the top four players in the electric two-wheeler space.
10:28Yeah, thanks Tushar for that.
10:30So, now in a bit to tighten the news on insider trading, SEBI has decided to expand the definition
10:35of connected persons or people who have access to price-sensitive information.
10:41Charu joins us with more.
10:43Charu, what would the term include now?
10:49So, insider trading regulations have been there for a while now.
10:52However, what is the motive of SEBI here?
10:54They just want that any person who might be aware of a non-public disclosure, any sensitive
11:01information should come under the purview of these regulations.
11:03Now, how is that supposed to happen?
11:05To increase the spectrum of the definition of connected person and who is a relative
11:09and who is not.
11:10So, earlier only a spouse would come to be your relative, to be your immediate relative.
11:14However, now your parents, siblings, children or their own spouses will also come under
11:19the definition of these relatives and will also come under the spectrum of insider trading regulation.
11:24Apart from this, the term connected person will include you, your firm, your partner,
11:30the employee of the firm or where your own partner is connected, involved or is an employee.
11:35All these people will be under the spectrum of insider trading regulations in an attempt
11:39to make the regulation more stringent and expand their scope.
11:41However, in a relief, there will be no other additional disclosure requirements or changes
11:47to the compliance procedure.
11:50Thanks Shahru, for that.
11:52Now, sources have said that the SEBI board does not need to approve F&O regulations.
11:56The market regulator had also issued a consultation paper on draft circular.
12:01Sajeet joins in with the details.
12:03Market regulator SEBI will soon tighten the norms for trading in futures and options for
12:09retail investors.
12:10It was widely expected that the regulator would come out with such a regulation as part
12:17of its board meeting.
12:18But the regulator did not announce anything on Monday.
12:21That was primarily because SEBI had floated a consultation paper on the draft circular
12:27and as a circular, SEBI will be notifying the same circular as and when it is ready
12:34with all the feedbacks and all the changes which has been proposed.
12:38As per the guidelines, circulars don't go to the board of SEBI for any approval and
12:45it's an administrative process.
12:46So, SEBI will put out the final circular based on the consultation process and then it would
12:54be up to the stock exchanges to implement it over a phased manner in the next coming
12:59months.
13:00As a result, the entire confusion about the F&O tightening norms did not come in the SEBI
13:09board meeting.
13:10It's not because it was supposed to, but because it was a circular and boards don't look at
13:17the circulars or approve any circulars.
13:19They both only look at the regulations and any change in the regulations which SEBI is
13:23proposing in the capital markets.
13:25SpiceJet has exclusively confirmed to NDTV Profit that it has cleared salary dues from
13:33the past four months.
13:34The airline has paid out a total of 120 crore rupees to its employees.
13:39Here's Aditya with the report.
13:41So, basically SpiceJet right now is looking like it's coming out of turbulence right now
13:51because after the fundraise of 3000 crores via QIP, SpiceJet is on a spree of clearing
13:59all the dues.
14:00So, basically in the recent development, the latest one, SpiceJet has cleared the salary
14:07dues of 120 crores for the last four months.
14:11This is basically dues for the last four months.
14:13And if we look at the reports that came in the month of September, on 26th of September
14:19to be precise, SpiceJet had also cleared the salary dues up till the month of June.
14:24So, now looking at this entire picture, it looks like SpiceJet has taken the clearing
14:31of dues as the priority after raising 3000 crores because there were reports that SpiceJet
14:38had also cleared the dues of GST which were pending by the airlines.
14:43Now, it will be very interesting to see that how the airline is going to revive itself
14:49because in a recent interview with NDTV prophet SpiceJet CMD, Ajay Singh had made very clear
14:56that the fund raised by the airline are adequate for the expansion plans of the fleet and there
15:03will be no requirement of raising funds till at least 2026 end and SpiceJet is planning
15:10to take the operational fleet to 100 aircraft by the end of 2026.
15:15So, this entire revival story is going to be very interesting.
15:19Watch how it pans out in the next one and a half years' time.
15:27Yes, Aditya, thank you so much.
15:29It will be interesting to see how SpiceJet is going to revive itself.
15:34Now, the Directorate General of Civil Aviation approved the merger of AIX Connect with Air
15:40India Express effective October 1st, 2024.
15:43The seamless transfer ensures uninterrupted operations of AIX.
15:47As a result of this merger, there will be a unified rostering system between the two
15:52airlines and the website's delivery systems and the customer service of both airlines
15:57are already integrated.
16:00Starting today, oil marketing companies have revised commercial LPG gas cylinder prices.
16:07The cost of a 19 kg cylinder has increased by 48.50 rupees, now priced at 1740 rupees
16:16in Delhi, while the price of 5 kg free trade LPG cylinders has risen by 12 rupees.
16:22This increase coming just before the festive season will directly impact restaurants,
16:27hotels and other commercial establishments that utilize these cylinders.
16:32Meanwhile, domestic LPG cylinder rates remain stable, providing households with some relief.
16:38The updated prices are now applicable nationwide, influencing the cost structure for businesses
16:45relying on LPG for their daily operations.
16:48Effective today, the price of Aviation Turbine Fuel or ATF in Delhi has been cut by 6%,
16:57reducing the cost by 5883 rupees per kiloliter.
17:02This is the lowest price recorded since April 2024, providing relief to airlines.
17:08Earlier this month, ATF prices were also lowered by 4.6% or 4495 rupees per kiloliter.
17:16Prices can vary from state to state based on local taxes.
17:21A decrease in ATF prices generally benefits airlines by improving profitability
17:26and enabling competitive fares.
17:28Following this price reduction, airline stocks including Interglobe Aviation
17:33i.e. Indigo and SpiceJet saw a rise of over 5% in early trading on October 1st.
17:39Jammu and Kashmir has gone to polls and this is the third day and final phase of polling.
17:4540 out of 90 constituencies are going to the polls.
17:48A total of 415 candidates are contesting, including 28 women.
17:53Voting will take place across 5060 polling stations.
17:57Here is Nazir from NDTV with a detailed ground report.
18:01So we'll be joined by Nazir shortly.
18:03I think we've lost him but moving on.
18:09So doctors in West Bengal are back on strike today
18:13as they announced a total cease of work.
18:15The doctors partially rejoined duties on September 21
18:19after a 42-day protest over the COVID-19 pandemic.
18:23The government has also announced that
18:25The doctors partially rejoined duties on September 21
18:29after a 42-day protest over the Kolkata rape and murder case.
18:33Junior doctors are demanding better security at state hospitals.
18:37The suspension of work began this morning
18:39as doctors alleged that there was no positive response from the government
18:43to fulfil their demands for safety at work.
18:46The doctors have also announced a massive protest rally in the city
18:50on October 2nd coinciding with Gandhi Jayanti
18:54and Mahalaya which marks the beginning of
18:5610-day Durga Puja festival in the state.
19:08A gold and silver trader in Ahmedabad
19:10was duped of 1.3 crores after fraudsters paid him in fake notes.
19:14The notes had an image of the Bollywood actor Anupam Kher
19:18instead of Mahatma Gandhi.
19:20The two were later arrested.
19:24We all are so used to seeing the toothless grin and hairless head
19:28of the father of the nation on our currency notes.
19:31One can only guess what some wannabe counterfeiters
19:34in Ahmedabad, Gujarat thought
19:36when they decided to print fake currency notes.
19:39Probably they thought that any hairless head would do.
19:43And so they came up with the bright idea
19:45to print actor Anupam Kher's image in place of Mahatma's.
19:49The Anupam Kher notes printed
19:51were worth 1 crore and 60 lakh rupees.
19:55The counterfeiters went to a bullion trader
19:57Mehul Thakkar in Ahmedabad's Manik Chowk.
20:00They said they wanted to buy 2100 grams of gold.
20:04Thakkar was asked to deliver the gold to a firm in Navarangpura.
20:08Thakkar's assistants reached the firm with the gold.
20:12The counterfeiters handed over 26 bundles
20:16of the fake 500 rupee notes
20:18in a plastic bag and took the gold.
20:20When Mehul Thakkar's men decided
20:22to check the amount in the bag,
20:24the counterfeiters took to their feet
20:26on the pretext of bringing another 30 lakh rupees.
20:29That's when Thakkar's men were dazzled
20:32by the Anupam Kher notes.
20:34With gold prices skyrocketing,
20:36crimes related to gold have increased.
20:39But this is perhaps the most novel one of them all.
20:46Bollywood's top stars are turning their attention
20:49to entrepreneurship, capitalizing on their fame
20:52to build business empires.
20:54Hrithik Roshan's HRX has turned into a profitable brand,
20:58while Katrina Kaif's K-Beauty has seen strong growth.
21:01However, Deepika Padukone's 82 East
21:04faced significant losses.
21:05Malika Mishra brings us a detailed report.
21:09Celebrity brands aren't new in this country,
21:12but how many are really successful?
21:14Let's take a look at the winners first.
21:16As per news reports, Hrithik Roshan's HRX
21:19crossed a revenue of a whopping
21:211000 crore rupees recently.
21:23It also partnered with Myntra
21:25that further increased its reach and revenue.
21:28Launched in 2013 as a fitness and lifestyle brand,
21:32HRX stands tall as one of the most
21:34successful celebrity-owned brands in India
21:36that competes with well-reputed brands
21:38like Nike, Puma and Decathlon.
21:41Then comes Katrina Kaif's K-Beauty
21:43that launched in collaboration with Nike
21:45and is the third most-searched D2C brand
21:48on the platform.
21:49It has a large customer base of 15 lakh loyal consumers
21:53and is expected to grow at an impressive rate of 62%.
21:57Then in line is Alia Bhatt's Edamama,
21:59a kids and maternity wear brand.
22:01It achieved a four-fold increase in revenue
22:04at 16.2 crore rupees in FY 2022.
22:07But let's not miss out the fact that Reliance Retail
22:11acquired a 51% stake in the brand
22:14back in September 2023.
22:16But what about others?
22:17Virat Kohli's Rong, Salman Khan's Being Human,
22:20Anushka Sharma's Noosh
22:22and quite newly launched
22:23Deepika Padukone's 82 Degree E.
22:26Do you know that they're all soaked in losses?
22:28So where did they go wrong
22:30and what did the successful ones do right?
22:33Take a look at this table.
22:34Successful celebrity brands focused on
22:37building a meaningful connection with a product,
22:39established long-term brand image,
22:42portrayed the brand as an extension
22:44of the celebrity's interests or personality,
22:47maintained authenticity
22:49and kept their prices affordable
22:52unlike the unsuccessful ones.
22:54So what do you think of celebrity-owned brands?
22:56Is it a yay or a nay?
23:02Mumbai Dabbawalas
23:03who have been integral to the city's identity
23:06in a move to promote sustainable mobility
23:08and ease of delivery,
23:09the Dabbawalas of Mumbai
23:11will now be using
23:12state-of-the-art electrical motorcycles
23:15for distributing lunch boxes in the city.
23:1725 of them have received these motorcycles.
23:20Despite the changing times,
23:21the mode of transport for the Dabbawalas
23:24has remained the same.
23:25Considering that the Dabbawalas
23:27use bicycles for their deliveries,
23:29this move is aimed at empowering them
23:31by electrifying their fleet.
23:38The Dabbawalas,
23:40a symbol of Mumbai's enduring spirit,
23:43capture the imagination of the city
23:45like nothing else.
23:47Long-standing, hard-working
23:49and with tireless dedication.
23:55This 130-year-old institution
23:57which has been delivering lunch boxes
23:59on bicycles to the working class
24:01of the city
24:02will now experience a sense of ease
24:04thanks to the introduction
24:06of sustainable mobility
24:08through e-bikes
24:09into their daily routine.
24:36There is a huge demand for e-bikes
24:38in Mumbai.
24:39Due to this,
24:40our efforts to deliver lunch boxes
24:42on time in Mumbai
24:44are being hindered.
24:46We have to face a lot of problems
24:48and there is a lot of traffic.
24:50But we are doing our best
24:52to maintain the environment
24:54where we can deliver lunch boxes
24:56on time.
25:02Baataviran, an NGO
25:04which has been a strong advocate
25:05for clean air in the city
25:07has provided 25 state-of-the-art
25:09e-bikes to the Dabbawalas
25:11along with IAFL Foundation,
25:13CSR Wing of IAFL,
25:15one of the players
25:17in the financial service space.
25:19They believe that the Dabbawalas
25:21have the potential to be much more
25:23than just different servers
25:25and play an active role
25:27in promoting sustainable transportation.
25:31In Mumbai,
25:33the Dabbawalas have been serving
25:35the community
25:37for 134 years
25:39through cycling,
25:41walking,
25:43and local trains.
25:45That is the most
25:47beautiful model
25:49which we can say
25:51that they are the real
25:53champion of
25:55climate
25:57action.
25:59They are the real champions
26:01of sustainable transportation.
26:05The Dabbawalas feel
26:07that e-bikes will greatly assist them
26:09in their food delivery.
26:13In our society,
26:15we do not use any polluting vehicles
26:17in our total delivery system.
26:19Because of this,
26:21the e-bikes
26:23which they have given us
26:25can make our work
26:27easier
26:29and we can go
26:31on a fast track.