Honda has finally raised curtains over its highly anticipated SUV, the Honda Elevate. The price is expected to range between 10.5 lakh and 20 lakh rupees. This is the first SUV from Honda after it had hit lean patch with its other three SUVs namely CR-V, BR-V and WR-V. The Japanese auto manufacturing company has discontinued all these three models in India. Prices are not made official yet. But one thing is official, bookings will start next month in July. The ICE driven compact-SUV will have 1.5 litre petrol variant. Honda has not announced any diesel variant of the SUV. But an electric ver
Retail Investors oversubscribe IKIO Lighting IPO
The IPO of IKIO Lighting got robust response on the first day. The 3 day initial share process was subscribed 150% by 4pm on D-Street. Retail investors quota was also completely filled. Their quota was subscribed 160%. Non institutional investors quota was subscribed more than 2 times. The total size of the IPO is 606 crore rupees. Its stock was trading at GMP of 90 rupees on the first day. On the other day, anchor investors quota was also completely subscribed.
Prabhudas sees 12% upside on this stock
Brokerage firm Prabhudas Lilladher has gone bullish on HINDALCO with target price of 470 rupees. The Brokerage firm has advised investors to set a stop loss of 400 rupees if they buy the stock at current levels of 419 rupees. According to the brokerage, Hidalco formed a strong base near the 400 zone. a decent pull back has been witnessed after undergoing a short correction,. The stock has consolidated and is near the long-term trend line support zone. The RSI is also well placed. There are indications of trend reversal and upside potential which may lead to further rise in the coming days.
Upside likely in rural India stocks
Next news if for those who want to play on rural India story. According to a report by Economic Times, government’s decision to improve rural incomes will auger well for companies operating in poultry, fisheries and alike segments. Because of this, analysts are bullish on Venky’s India, Kaveri Seed, Godrej Agrovet and Hester Bio. The report has given strong buy rating on Venky’s India. It sees 31% upside potential on the counter. While, Kaveri Seed has also secured strong buy rating with 17% upside potential. The report sees upside potential in the range of 11 to 14% on stocks like Godrej Agrovet and Hester Bio.
ICE 2-wheelers may attract Green Tax
After rise in prices of electric two-wheelers, traditional ICE driven two-wheelers may also become further costly. The government is considering a proposal to impose 1% green tax on ICE based two-wheelers. The government has got the suggestion from Society of manufacturers of electric vehicles in the country. If the government accepts the suggestion, then, it will lead to further increase in two-wheeler prices. Recently, the government had cut subsidy on electric two-wheelers. Due to which, even green vehicles had become costlier from June 1, 2023. But now it looks even traditional ICE driven two-wheelers are on the road to become further costlier.
Paytm’s payment devices installed with 75 lakh merchants
Paytm has installed 75 lakh soundboxes and QR based point of sale devices as of May 2023. These payment devices have more than doubled in last one year running to April-May period of 2023. During this two months, Paytm has disbursed loans worth of more than 9,000 crore rupees. Loan disbursal has jumped more than 2-fold in one year running to April-May period of current calendar year. Even monthly transacting users or MTU on the company’s app is constantly improving. MTU is considered important metric to gauge fundamentals of fintech players. Paytm’s MTU has grown to more than 9 crore by May end 2023. Paytm is continuously narrowing down its losses on yearly basis. Even the share price is rising. In the last six months, the counter has given returns of 38%. Many brokerages are also currently bullish on the stock.
SBI seeks fresh locker agreements
The State Bank of India has requested customers by tweeting that those who are availing bank locker facilities must contact their locker holding branch. These customers are required to sign fresh locker agreement with the bank. The Reserve Bank of India has changed locker rules in the country. Consequently, the apex bank has directed banks to finish renewable of bank locker agreement for 50% of customers by June 30, 2023. While, the deadline for renewable of agreements for all the account holders of all the banks in the country is December 31, 2023.
Withdraw cash from ATMs of this bank without debit card
Bank of Baroda customers can withdraw cash from its ATMs without the use of a debit card. The state owned bank has launched a service where customers can withdraw cash with the help of UPI at various ATMs of the bank. These feature is known as ICCW or Interoperable Cardless Cash Withdrawal facility. The only condition is that the UPI app must be ICCW enabled. Even other bank customers can avail this service at Bank of Baroda’s ATMs. The public lender claimed it is the first public sector bank to launch this service. It is a simple, convenient and secure way to withdraw cash.
Edelweiss MF launches new multi asset mutual fund
Edelweiss Mutual Fund has launched a new multi-asset fund which will invest across Equity, Debt, Gold and Silver. The NFO of Edelweiss Multi Asset Allocation Fund will conclude on June 19, 2023. Minimum investment amount is 5,000 rupees. Exit load is NIL Suitable investment horizon is 3 years and above. The scheme will launch on June 26, 2023. Regular and direct plans of the scheme will be available. According to Radhika Gupta, MD & CEO, of Edelweiss Asset Management, the scheme will provide low volatile fixed income like returns in a tax effective way to investors.
Get customised loans on Alto K10, WagonR: Maruti
Aspirant car owners of Maruti Suzuki will get tailormade auto loans with India’s largest NBFC, Bajaj Finance. Customers can choose loan size and tenure according to their requirements. According to the automobile manufacturer, its collaboration with the NBFC will provide a range of personalised loan offerings for customers. They can get customised loans on cars like Alto K10, WagonR, Dzire, etc
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