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Nuvama's Top Stock Picks: Bajaj Consumer, United Breweries, and Aditya Birla Fashion.
- Nuvama recommends Bajaj Consumer Care, but lowers the target price to ₹274.
- United Breweries maintains a 'Buy' rating with a revised target price of ₹2,505.
- Aditya Birla Fashion & Retail retains a 'Buy' rating, target price reduced to ₹315.
- Price hikes and investments drive Nuvama's positive outlook on these stocks.
- Fundraising efforts are expected to fuel growth for Aditya Birla Fashion & Retail.
Patanjali Ayurved and DS Group Acquire Magma General Insurance for Rs 4,500 Crore
- Patanjali Ayurved and DS Group have acquired Magma General Insurance from Sanoti Properties for Rs 4,500 crore.
- The acquisition marks Patanjali's entry into the general insurance sector, diversifying its business portfolio beyond wellness products.
- Patanjali and DS Group will hold a 98% stake in Magma Insurance post-acquisition, subject to regulatory approvals.
- Magma General Insurance offers over 70 products and recorded a Gross Written Premium of Rs 3,295 crore in FY24.
- The deal leverages Patanjali's extensive distribution network of 2,00,000 counters and 250 mega stores for insurance expansion.
Anand Mahindra Advocates for Prioritizing Pedestrian-Friendly Street Designs in Indian Cities
- Anand Mahindra emphasizes pavements as key to citizen safety and mental well-being in cities.
- He urges municipalities to prioritize holistic street designs focusing on pavement size and aesthetics.
- Mahindra highlights cleanliness and hygiene, sharing images from Pune, Indore, Mumbai, and Bengaluru.
- The post sparks discussion on urban planning, praising some cities and criticizing infrastructure challenges.
- Focus on street design is critical, as India faces a high number of road accidents daily.
Markets React to Trump Tariffs; Sensex & Nifty Fluctuate Amid Global Uncertainty
- Wall Street plunges as Trump imposes tariffs on Canada and Mexico, S&P 500 down 1.76%.
- Indian equity indices ended marginally lower amid volatility, Sensex down 0.15%, Nifty 0.02%.
- Mixed cues include positive domestic data (GDP, GST) offset by global trade & Ukraine concerns.
- Bharat Electronics gains 4.52%, while Coal India lags, down 2.44% among Nifty stocks.
- Sectoral performance varies: Metal & IT up, while Media & PSU Bank sectors decline.
Trump's Crypto Reserve Plan Sparks Market Surge
- Trump champions a US Strategic Crypto Reserve including XRP, SOL, and ADA.
- Bitcoin and Ether are central to Trump's envisioned crypto reserve.
- The announcement caused Bitcoin to spike by 9% and Ether by nearly 13%.
- The reserve aims to function like gold reserves, hedging against inflation.
- Trump is hosting the first White House Crypto Summit this Friday.
FPIs Withdraw ₹34,574 Crore in February, Outflows Reach ₹1.12 Lakh Crore in 2025
- FPIs offloaded ₹34,574 crore from Indian equities in February amid global trade tensions.
- Total FPI outflow in 2025 has reached ₹1.12 lakh crore due to sustained selling.
- High valuations and concerns about earnings growth are driving the FPI outflows.
- FPIs are selling in financial services despite attractive valuations in that sector.
- Rising US bond yields and a strong dollar are shifting investor focus to US assets.