Here are the top personal finance news of the day:
If you are looking to invest in Adani Enterprises, then,from May 26, 2023, you will have to keep margin of 50%. In some circumstances, you may even be required to keep 100% margin to invest in Adani Enterprises. This is because both NSE and BSE have again moved AEL in short-term ASM framework. When, exchanges move a stock under short-term ASM, then, investors have to keep a margin of minimum 50% and maximum 100% to invest in that stock. Whenever, there is too much movement in a stock, exchanges move a stock under ASM. In last 5 days, Adani Enterprises has risen by 29%. On Thursday, the scrip closed at Rs 2548, up 2.92%
Buying full strip to be no more compulsory
The Government is planning to bring in a new law according to which no chemist will be able to force a customer to buy an entire strip or bottle of a tablet. Customer will have all the right to buy only as much tablets as required rather than having to buy the entire strip of the tablets. Customers often complain that chemists ask them to buy an entire strip of tablets. But now it seems this problem can soon be solved. To make this possible, the government has asked pharma companies to put the manufacturing and expiry date at the back of all the tablets in a particular strip. That way, customers will have no problem in buying single pieces of tablets. To have this implemented everywhere, the government has also asked pharma companies to sell tablet strips in smaller sizes.
Rupak Day sees bullishness on these three stocks
Stock market expert and senior technical analyst Rupak Day has recommended buying in three stocks. On Indian Hotels, his recommendation is to buy at a price of 380 rupees, with a target of 410 rupees and a stop loss at 367. On IDFC First Bank Rupak Day has given a buy rating on 72 rupees with stop loss of 65 rupees. On PVC pipe manufacturing company Astral Limited, Rupak is bullish with a target price of 1,900 rupees and stop loss of 1,680 rupees.
BoM tops PSBs’ charts in Q4 FY23
If you want to invest in public sector banks, then, you must listen to this. Public sector banks are coming out with strong results these days. One of these banks is Bank of Maharashtra. The Pune based state owned lender has recorded highest growth in profitability, loans and deposits in the March quarter of financial year 2023. The public sector bank’s profit in March quarter has more than doubled to more than 2,600 crore rupees on year on year basis. Gross advances on the other hand has jumped to more than 1.75 lakh crore rupees. Deposits have come at around 2.34 lakh crore rupees in the said quarter.
Soon pay money to add members to Netflix plan
Netflix is set to bring in changes in its account sharing policy. Now, if one account is used by many then more money will have to be paid. The new rule has been implemented in US and UK. Very soon these changes will be made in India and will be applicable soon in other countries as well. The option of adding new members will not be available in cheaper plans.
Honda, MG hike prices by 1%
Honda has hiked prices of its flagship sedan, Honda City and also of Honda Amaze. The price hike of up to 1% across variants is effective from June 1, 2023. The Amaze is currently priced between 6.99 lakh and 9.6 lakh rupees. While, City price ranges from 11.55 lakh and 20.39 lakh rupees. Even MG has raised the prices of its Hector model. The basic variant of Hector will now start from 14.99 lakh rupees. While, Hector Plus 7 seater price will start from 17.49 lakh rupees and Hector Plus 6 seater will start from 20.14 lakh rupees.
Sprinto unveils low-speed e2w at Rs 1.30 lakh
Electric two-wheeler maker Sprinto has unveiled its second electric scooter Amery. The e-scooter is priced at 1.30 lakh rupees. The e-scooter offers a range of 140 kilometres on a single charge. And, a top speed of 65 km/hr. Some of the other striking features include remote control lock, anti-theft alarm, mobile charging socket, to name a few.
Fincare SFB giving 9.11% RoI on 1K FDs
Fincare Small Finance Bank has raised interest rates of fixed deposits. The small finance bank will give as high as 8.51% on FDs of 1,000 days. On 5 year FDs, account holders will get 8.0% interest rate. On shortest tenure of 7 days, account holders will get 3% interest rate. While, on 1 year FDs, account holders will get interest rate of 7.50%. Senior citizens will get additional rate of 0.60% over and above applicable rates on FDs of all tenures.
Shopkeepers roll out innovative offers on Rs 2K notes
After RBI implemented mandatory exchange of 2,000 rupee notes, several shopkeepers have come out with innovative offers on purchase of products with the notes. A shopkeeper in New Delhi has rolled out an offer to customers where they can buy products worth 2,100 rupees on paying 2,000 rupee bank note denomination. A mall in Madhya Pradesh is reportedly selling branded clothes if customers pay in cash with 2,000 rupee denomination.