Newsletter | This PSU stock has more downside risk: Goldman Sachs; EPFO subscribers will be able to withdraw PFs from ATM; tech & more – CNBC TV18
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Brokerage firm Goldman Sachs has cut the price target on shares of state-run Container Corporation of India (CONCOR) to ₹710 from ₹810 earlier, while maintaining its “sell” recommendation on the stock.
The revised price target from Goldman Sachs implies a potential downside of 17% from Wednesday’s closing levels. Goldman Sachs said that CONCOR’s earnings have further downside risk driven by weak growth for rail container traffic and market share concerns amidst rising competition. CONCOR’s earnings downgrade cycle is likely to continue, according to Goldman Sachs, who sees further downside on the stock. Shares of CONCOR have already corrected 27% from their recent peak of ₹1,180.
Suzlon Energy shares were acquired by these two Mutual Funds in November
Shares of Suzlon Energy Ltd., the wind energy solutions provider were acquired by two Mutual Funds in the month of November, according to data from Nuvama Alternative & Quantitative Research.
In a report released on Wednesday, Nuvama Alternative said that Suzlon Energy’s shares were acquired by HDFC Mutual Fund and Mirae Mutual Fund in the month of November. Based on the September shareholding pattern, neither of the two funds had a stake in Suzlon back then. In case they did, it would be less than 1% of the total equity as their names do not feature in the public shareholding data. As of September, 28 funds had a 4.14% stake in Suzlon Energy. Foreign Portfolio Investors had a stake over 23%, while the company had nearly 50 lakh small shareholders, who now own 23.55% stake.
International Universal Health Coverage Day: Where India stands and how insurance can secure your finances
International Universal Health Coverage (UHC) Day, observed every December 12, highlights the importance of accessible healthcare for all. UHC is crucial in ensuring that healthcare is accessible without financial hardship, and it also highlights the importance of health insurance in personal financial planning.
Comparing UHC models across countries
Countries like the UK and Canada offer robust UHC models through public-funded healthcare systems. In the UK, the National Health Service (NHS) provides free access to essential medical services, funded by general taxation. Similarly, Canada’s Medicare ensures healthcare access at no direct cost to patients, with expansions like the Pharmacare Act covering medications.
EPFO subscribers will be able to withdraw provident funds directly from ATMs starting next year
Secretary with the Ministry of Labour and Employment, Sumita Dawra, has announced plans to enable EPFO subscribers to withdraw money from their provident fund accounts directly via ATMs starting next year.
Highlighting ongoing IT system upgrades to enhance services, Dawra stated that claims are being settled swiftly, and an easier process will be implemented from January 2025 onwards. This streamlined system will allow EPFO claims to be accessed with minimal intervention for stakeholders, including claimants, beneficiaries, and insured individuals. Describing India’s demographic dividend as a solution to global labour shortages, the Secretary noted that over 64 crore people in India are engaged in economic activity.
Maharashtra Cabinet Expansion Live: Decision likely by Dec 14; Fadnavis to meet PM in Delhi
Maharashtra Cabinet Expansion Live: The cabinet expansion of the Devendra Fadnavis-led Maharashtra government is likely to take place by December 14, a senior BJP leader said on Wednesday (December 11). Fadnavis left for Delhi on Wednesday, his office said, adding it was a courtesy visit, the first after becoming the chief minister, as he would be meeting Prime Minister Narendra Modi, President Droupadi Murmu and Vice President Jagdeep Dhankhar. “The cabinet expansion is likely by December 14. The allocation of home department to Shiv Sena is ruled out. The Shiv Sena may get urban development, but is unlikely to get revenue,” said a BJP leader, who did not wish to be named.
ChatGPT down globally after Instagram and WhatsApp, OpenAI working on a fix
OpenAI’s ChatGPT was down for users globally on December 12. “ChatGPT is currently unavailable. Status: Identified – We have identified the issue and are working to roll out a fix,” the message on the website read.
As many as 74% of users globally reported problems with ChatGPT, Downdetector reported. OpenAI, meanwhile, said that it is continuing to work towards remediation. API and ChatGPT traffic is partially recovered. Sora remains down, it said in an update on its website. ChatGPT outage comes hours after Meta’s platforms WhatsApp, Instagram and Facebook were down for users across the globe.
Can look at new law to ensure accountability of social media companies: Ashwini Vaishnaw
The Minister of Rail, IT and I&B Ashwini Vaishnaw on Wednesday, December 11, proposed a new law to ensure accountability of social media companies, in case of fake news. He said that the govt could look at a new law, “if the house agrees and if there is a consensus in the entire society”.
Ashwini Vaishnaw was addressing the Parliament while speaking about the risks posed by fake news. “It is a major challenge that societies across the world are facing—the accountability of social media, particularly in the context of fake news and the creation of fake narratives,” Vaishnaw remarked. He added, “These are the issues where freedom of speech comes on one hand and accountability and having a proper real news network getting created, on the other hand.”
How good will 2025 be for SBI shareholders?
State Bank of India (SBI) has had a strong year. As of December 11, 2024, its shares are trading at ₹866, up 41.5% from ₹612.25 a year ago. Shareholders of SBI have made more compared to benchmark indices like Nifty Bank (up 13% in the same period) and Nifty 50 (up 17-18%).
Is 2025 likely to be just as good or better? To put things into perspective, out of the 50 analysts covering SBI, 27 have a target price of ₹1,000 or more on the stock.
How analytics are redefining the supply chain for fashion brands — insights from Virgio founder & CEO
In the fast-paced world of fashion, staying ahead of trends and meeting ever-changing consumer demands is essential. To achieve this, data analytics has emerged as a transformative force in supply chain operations. By leveraging data-driven insights, fashion brands are revolutionising their supply chains, driving efficiency, and delivering on consumer expectations more effectively than ever before.
Traditionally, fashion supply chains relied heavily on historical data and intuition, often leading to long lead times, excess inventory burden and inefficiencies. However, the rise of sophisticated data analytics tools has shifted this dynamic, enabling brands to harness real-time data to better understand consumer behaviour, market trends, and operational efficiencies.
