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PhonePe's Share.Market to introduce proprietary stock research using factor analysis

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New Delhi, May 13 (IANS) Share.Market, a PhonePe product, brings forth the Intelligence Layer on Stocks — an in-depth quantitative factor-based analysis of each stock, a first-of-its-kind in the discount broking industry.

The intelligence layer integrated with the product feature and execution layer ensures that investors are provided with comprehensive wealth solutions in a DIY mode within the discount broking framework.

Navigating the complexities of the stock market and making informed decisions can be daunting for investors especially when faced with intricate data analysis, such as understanding a stock’s fundamentals or monitoring its price movements. Share.Market’s Intelligence Layer eliminates this need. Instead, investors can rely on its comprehensive factor-based analysis to make their decisions with confidence.

“We are redefining discount broking by shifting the focus from transactional processes to comprehensive wealth solutions. Factor analysis was always embedded into our WealthBaskets and Collections products and by bringing it onto individual stocks, we have now made it accessible to all investors in a consumable format,” said Ujjwal Jain, CEO, Share.Market.

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“By providing actionable intelligence in a user-friendly format supported by educational content, we anticipate higher increased engagement on the platform as well,” he added.

This Intelligence Layer empowers investors in multiple ways such as factor-based analysis, comparative insights, in-depth collections research, and a larger universe of stocks.

In factor-based analysis, investors gain access to quant-based research on all stocks at no additional cost. By evaluating stocks across five key factors — quality, value, momentum, volatility, and sentiment — investors can assess each stock’s potential and suitability for their portfolio.

With comparative Insights, investors can compare a stock’s factor scores with those of its peers, enabling them to make nuanced investment decisions.

In-depth collections research will allow investors to analyse stocks featured in Share.Market’s WealthBaskets or Stock Collections, gaining valuable insights into why these selections were made, enhancing their understanding.

In the larger universe of stocks, Share.Market encompasses all listed stocks with published data within its universe, bridging the gap in research, and being within the discount broking framework.

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Launched last year, Share.Market, with Zero A/c Opening Fee, offers a wide spectrum of investment products such as stocks (intraday and delivery), Mutual Funds, Exchange-Traded Funds (ETFs), and WealthBaskets, allowing investors across different demographics to build a well-rounded and balanced portfolio.

Additionally, for a limited duration, Share.Market is also offering Zero Brokerage on cash delivery and intraday, and Zero Brokerage on F&O.

–IANS

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Govt bonds worth Rs 29,000 crore coming up for auction on May 31

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New Delhi, May 27 (IANS) The Finance Ministry on Monday announced the sale of government bonds worth Rs 29,000 crore in three lots through auctions to be conducted by the Reserve Bank of India in Mumbai on May 31.

The first lot comprises “New Government Security 2029” for a notified amount of 12,000 crore through a yield-based auction using multiple price methods. The second lot of “New GOI SGrB 2034” worth 6,000 crore will also be auctioned through a yield-based auction using multiple price method while the third set of 7.34 per cent Government Security 2064 worth 11,000 crore will be auctioned through price based auction using multiple price method.

The government will have the option to retain additional subscriptions up to 2,000 crore against each of the three securities. Up to five per cent of the notified amount of the sale of the securities will be allotted to eligible individuals and institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

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Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on May 31, 2024. The non-competitive bids should be submitted between 10:30 a.m. and 11:00 a.m. and the competitive bids should be submitted between 10:30 a.m. and 11:30 a.m.

The result of the auctions will be announced on May 31, 2024 (Friday) and payment by successful bidders will be on June 03, 2024 (Monday).

The Securities will be eligible for “When Issued” trading in accordance with the RBI guidelines.

–IANS

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Delhi HC upholds order directing SpiceJet to return aircraft to TWC Aviation

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New Delhi, May 27 (IANS) The Delhi High Court on Monday declined to intervene in a single judge bench’s order directing airline SpiceJet to return two Boeing aircraft with engines to TWC Aviation over unpaid dues.

A division bench of Justices Rajiv Shakdher and Amit Bansal has directed SpiceJet to comply with the order by June 17.

Previously, the single judge had mandated that SpiceJet hand over the aircraft, engines, and all relevant technical records to TWC Aviation by May 28.

This decision came after senior advocate Amit Sibal, representing SpiceJet, agreed to the bench’s suggestion to extend the compliance deadline if SpiceJet withdrew its appeal.

SpiceJet accepted the proposal and withdrew the appeal.

TWC Aviation, the owner of the aircraft and engines, initiated a lawsuit seeking a permanent injunction against SpiceJet. The suit alleged that the aircraft were leased to SpiceJet for 12 months at a monthly rent of $180,000. SpiceJet, however, failed to pay the lease rentals, prompting the creation of amendment agreements to accommodate payment difficulties due to the Covid-19 pandemic.

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Despite these adjustments, SpiceJet breached the agreements.

TWC Aviation sought enforcement of a UK court’s order directing SpiceJet to return the aircraft immediately.

The single-judge bench observed that the separate use of aircraft frames and engines by SpiceJet would significantly reduce their value for TWC Aviation and noted the airline’s failure to pay the dues. Ruling in favour of TWC Aviation, it stressed that SpiceJet could not continue to use the aircraft and engines without fulfilling its payment obligations given the acknowledged dues.

–IANS

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LIC Q4 net profit at Rs 13,763 crore, declares dividend of Rs 6 per share

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New Delhi May 27 (IANS) Life Insurance Corporation of India (LIC) on Monday reported a 2.5 per cent increase in net profit at Rs 13,763 crore for the January-March quarter of the financial year 2023-24 compared to the corresponding figure of Rs 13,421 crore in the same period last year.

The country’s largest announced an interim dividend of Rs 6 per share.

The insurance behemoth also reported an improvement in its asset quality as gross non-performing assets (GNPA) fell to 2.01 per cent from 2.56 per cent in the year-ago period.

The value of new business of the company rose by 4.66 per cent to Rs 9,583 crore with the margin increasing by 0.6 per cent to 16.8 per cent.

The insurance giant sold a total of 2.03 crore policies in the individual segments compared to 2.04 crore policies sold in FY23.

In the fourth quarter, LIC witnessed an uptick in its Annual Premium Equivalent (APE), recording a 10.7 per cent increase to Rs 21,180 crore compared to Rs 19,137 crore in the previous year.

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The company’s Assets Under Management (AUM) increased to Rs 51.21 lakh crore as on March 2024 as compared to Rs 43.97 lakh crore on March 31st, 2023 registering an increase of 16.48 percent year on year.

The solvency ratio of the insurer was at 1.98 per cent up from 1.87 per cent last year.

–IANS

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Goldman Sachs ups India’s GDP growth forecast

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New Delhi, May 27 (IANS) Leading global financial firm Goldman Sachs has revised its forecast for India’s GDP growth by 10 basis points to 6.7 per cent as it expects the government’s heavy investments in big-ticket infrastructure projects to continue with the huge dividend coming in from the RBI.

“Going forward, we expect investment growth momentum to sustain with extra fiscal space for infrastructure spending given a higher than expected dividend transfer by the RBI. As a result, we recently revised our growth forecasts for 2024 slightly higher by 10 bps to 6.7 per cent,” Andrew Tilton, head of emerging markets economic research at Goldman Sachs said in a note.

“In India, growth momentum remains strong, and while we think core inflation will bottom out in April-June, we expect it to be around 4.0 – 4.5 per cent in July-December,” the financial company said.

However, the RBI’s monetary policy committee members have recently sounded cautious on sticky food inflation and may want to see monsoons progress and the summer crop sowing to assess the food inflation outlook in July-December, before pivoting towards monetary policy easing, the report said.

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“Taking into account these developments, we push our RBI rate cut call back by one quarter to October-December, with the first cut most likely in the December 2024 meeting,” the report added.

The report also came on a day when the IMD confirmed its forecast of above-average monsoon rains this year which are expected to spur production in the agricultural sector that was hit by erratic weather last year.

–IANS

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Sensex closes flat after touching 76,000 for first time

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Mumbai, May 27 (IANS) India equity benchmarks closed flat on Monday following sideways sentiment in the Market.

Sensex was closed at 75,390, down 19 points. During the session, Sensex touched the 76,000 mark for the first time and made a new all-time high of 76,009. The BSE benchmark has gained 1,000 points in just 31 trading sessions.

Nifty was down 24 points, at 22,932. During the session, the NSE benchmark crossed the 23,100 level for the first time.

More action was seen in midcap and smallcap compared to largecap. The Nifty Smallcap 100 index was up 136 points or 0.81 per cent at 17,019 points and the Nifty Midcap 100 index was up 337 points or 0.64 per cent at 52,761 points.

18 out of 30 Sensex stocks closed in the red.

IndusInd Bank, Axis Bank, Bajaj Finserv, HDFC Bank, L&T, and HCL Tech were the top gainers. Wipro, NTPC, Sun Pharma, M&M, ITC, and Reliance were the top losers.

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Rupak De, Senior Technical Analyst, LKP Securities, said: “Nifty remained mostly volatile during the day as India awaits the final phase of the general election. The near-term outlook remains positive, with the index staying above the crucial moving averages. Support lies at 22,900, below which the index might slip towards 22,800. On the higher end, bears are active around 23,000-23,050.”

He said that a decisive move above 23,050 might trigger a stronger rally towards higher levels.

–IANS

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