Business
Amid recent market volatility, one stock broker still sees over 11 pc upside for Nifty50 over 12 months- The Week
India’s stock markets have seen a lot of volatility in the last few weeks. With geopolitical tensions in West Asia escalating and China rolling out several stimulus measures to lift the economy, foreign institutional investors have pulled out massive amounts of money from Indian equity markets over the past month. In this backdrop, benchmark indices have come off a fair bit from their lifetime highs.
The BSE Sensex fell to 81,501.36 when markets closed on October 16, slipping 5.2 per cent from its record high of 85,978.25 on September 27. The NSE Nifty 50 index was also down 5 per cent to 24,971.30 from a high of 26,277.35.
On Thursday, October 17, markets gave up initial gains and were trading flat to negative in the morning session. Foreign portfolio investors pulled out more than Rs 67,000 crore from India’s equity market so far in October—the most they have pulled out for any month in 2024. This has been partly cushioned by strong inflows from domestic investors.
Stock broking firm Prabhudas Lilladher remained upbeat on the markets recovering, revising its 12-month target for the Nifty. It now sees the Nifty 50 touching 27,867 over the next 12 months in its base case, versus its earlier target of 26,820. The latest target is an 11.6 per cent upside from its Wednesday’s close.
In a bullish scenario, the Nifty could touch 29,260 while in a bear case, it could touch 25,080 levels, estimated Prabhudas Lilladher.
“PL Capital believes that the market and street estimates are already priced in a strong demand rebound during the upcoming festival and wedding seasons, and any disappointment in demand during this period could lead to further downward revisions in EPS (earnings per share) estimates,” it said.
Prabhudas Lilladher revised its EPS estimates for Nifty 50 by 3.8 per cent for the current financial year ending March 2025 and by 2.8 per cent for the 2025–26 financial year.
Capital Goods, infrastructure, ports, hospitals, tourism, new energy, e-commerce, and telecom are emerging sectors to watch out, provided they are available at the right valuations, it said.
Prabhudas Lilladher expects strong EBITDA (earnings before interest, taxes, depreciation, and amortization) growth to continue in the hospitals, pharma, capital goods, and chemicals sectors.
Rural demand for staples is also showing signs of recovery, though the September quarter results may reflect some impact from prolonged rains, it feels. Discretionary spending remains positive in areas like travel, housing, jewellery, and two-wheelers, while passenger vehicles, quick-service restaurants (QSR), apparel, footwear, and building materials are still facing challenges, it added.
Infrastructure spending also picked up, but might remain volatile in the wake of various state elections, according to Prabhudas Lilladher.
“The market has shifted in favour of defensive sectors as the valuations in many cyclicals have become quite expensive, even after accounting for sustained growth. With expectations of higher growth and lower risk, sectors like FMCG, IT services, pharma, and consumer durables have experienced a strong rebound,” the broking firm noted.
Business
UK civil servants told to work three days a week in the office
Decision comes after speculation that Labour ministers would allow more homeworking to bolster morale among officials
Money
‘The kids would love these!’ praise parents over Aldi’s £1.49 Nutella-flavour pancakes dupe
PARENTS are rushing to pick up Aldi’s brand-new chocolate pancakes – that taste just like Nutella.
The pancakes, which contain Nutoka chocolate chips, Aldi‘s Nutella dupe, come in servings of four, and sell for £1.49 in the bakery section.
A picture of the breakfast item was posted on the Newfoodsuk Facebook group, and quickly wracked up more than 500 reacts and comments.
One commenter wrote: “I need these.”
Another said: “These look good”.
A third tagged another user, saying: “Think we need some of these x”.
Several others were excited to get the pancakes for their children, with one saying: “The kids would love these.”
On the Instagram account John’s Snack Reviews, the item received a respectable six out of ten rating, with the poster praising the “chocolate quality”.
It comes as another new chocolatey treat, Cadbury’s Fuse Mini Treats, hit supermarket shelves.
Chocoholics were sent into a frenzy over the launch, having feared the classic Fuse bar was “extinct”.
Meanwhile, B&M shoppers went wild for a new twist on the Dream bar.
And customers raved about a new type of M&M – the Candy Popcorn M&M Minis.
Nestle has also added a new chocolate to its Quality Street “Favourites Golden Selection” pouch: the Toffee Penny.
But in sad news for chocoholic vegans, Aldi has axed its popular Moser Roth Vegan Blond chocolate.
How to save money on chocolate
We all love a bit of chocolate from now and then, but you don’t have to break the bank buying your favourite bar.
Consumer reporter Sam Walker reveals how to cut costs…
Go own brand – if you’re not too fussed about flavour and just want to supplant your chocolate cravings, you’ll save by going for the supermarket’s own brand bars.
Shop around – if you’ve spotted your favourite variety at the supermarket, make sure you check if it’s cheaper elsewhere.
Websites like Trolley.co.uk let you compare prices on products across all the major chains to see if you’re getting the best deal.
Look out for yellow stickers – supermarket staff put yellow, and sometimes orange and red, stickers on to products to show they’ve been reduced.
They usually do this if the product is coming to the end of its best-before date or the packaging is slightly damaged.
Buy bigger bars – most of the time, but not always, chocolate is cheaper per 100g the larger the bar.
So if you’ve got the appetite, and you were going to buy a hefty amount of chocolate anyway, you might as well go bigger.
Business
Should you apply for India’s largest public offering?- The Week
Hyundai Motor India Ltd IPO, the largest in India, entered the country’s primary market on Tuesday and will be open till Thursday.
The price band is fixed at Rs 1,865 to Rs 1,960 apiece and the minimum lot size is seven shares.
ALSO READ: Hyundai Motor India IPO alert: Dates, price band, minimum lot size and all you need to know
The bidding for the IPO sized at Rs 27,870.16 crore began at 10 am on Tuesday. The shares are expected to be allocated on October 18.
Should you apply for Hyundai Motor India IPO?
Most analysts have recommended that investors can “apply for long term” considering the auto-maker’s strong financial performance in the past coupled with diverse product offerings.
However, the grey market premium (GMP) of the Hyundai Motor India has dipped around 89 per cent from its previous high of Rs 570 and it stood at Rs 60 as of Tuesday, according to reports.
Another factor to consider is that the IPO is a complete Offer for Sale (OFS) of 14.2 crore shares by the parent company in South Korea. This means the Indian arm will not get any proceeds from the IPO and hence it would not bring in fresh capital for growth.
Money
Five ways to keep your indoor shrubs flourishing this winter
GREENERY in your home can help improve the air quality, not to mention your mood.
But if you have splashed out on indoor plants, the last thing you want is for them to then wither and die.
Here’s how to keep your shrubs flourishing . . .
PERK UP: Tea and coffee gives us a boost — but it can also revive greenery.
Nitrogen, potassium and phosphorus are among the nutrients in old coffee grounds that can help plants to grow while tannic acid in tea leaves also has benefits.
Adding these occasionally to soil can act as a fertiliser but it’s best to do this in moderation — just a couple of spoonfuls of grounds or leaves every couple of months or so is enough.
READ MORE MONEY SAVING TIPS
WASTE NOT: You can also use other kitchen scraps to nourish soil. Elise Harlock, brand manager at florist Prestige Flowers, said: “Banana skins are a fantastic, simple way to enrich your soil.
They decompose quickly and provide essential nutrients.
“Or try crushing leftover eggshells and sprinkle them around your plants. They are rich in calcium, which is vital for plant cell walls.”
POT LUCK: It may be easier to keep your plant in the pot it came in, but if it is too small it could cause issues.
You ideally need a pot that gives its roots room to grow.
Ikea has a really lovely range of plant pots with prices starting from just £1.50.
HOT TIPS: Try to keep your plants in a place where there are no big fluctuations in temperature.
So avoid putting them near to any radiators where it can get hot, or windows where it can get very chilly at night.
WATER TIGHT: Try to strike a balance between under or over-watering your plant.
A pot with drainage can help to avoid drowning your greenery with too much water.
You can also help nutrient absorption and boost plant health by dissolving a teaspoon of Epsom salts in one litre of water and using it on plants once a month, Elise says.
- All prices on page correct at time of going to press. Deals and offers subject to availability
Deal of the day
SPOOK your neighbours with this “family” of inflatable pumpkins, which make the perfect Halloween decoration.
It costs less than 1p an hour to run and is down from £50 to £35 at Homebase.
SAVE: £15
Cheap treat
SWEETEN up breakfast time with a bowl of Inventure S’mores cereal, featuring chocolate, marshmallow and crunchy crackers, £2.50, from Morrisons.
What’s new?
POUNDLAND has released a new rewards programme through its new app Poundland Perks.
Customers can snap up more than 100 offers through the scheme, plus earn points, which can be exchanged for digital reward vouchers.
Top swap
STAY toasty with The North Face 100 glacier zip fleece, £75, from John Lewis.
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SAVE: £67.01
Little helper
VAMP up your lunchtime with Ginsters’ limited-edition spicy sausage and red pepper pasty, £1.25, from Sainsbury’s with a Nectar card or £1.95 without.
Shop & save
YOUR morning cuppa will be even better out of this flamingo mug, which is down from £5 to £3.50 at Flying Tiger.
SAVE: £1.50
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Travel
I’ve been on hundreds of nights away in my caravan – here’s the best place to spend the October half-term
A FAMILY in the UK who have spent hundreds of nights holidaying in their caravan have revealed one of their favourite campsites to visit in the autumn.
Known as The Caravanning Mummy, travel expert Rachel often shares her best advice on her social media.
The mum-of-two purchased her caravan back in 2019, spending the school holidays and weekends exploring the UK with her family in their Bailey Of Bristol Phoenix 650 caravan.
They’ve been on 56 caravan holidays over the last five years – but there is one campsite they have visited for the last for three October half-term holidays.
Talking exclusively to Sun Online Travel, the travel content creator named Longleat Club Campsite as the best place for families to spend the winter half-term.
She told Sun Online Travel: “The site I would 100 per cent recommend is the Longleat Club Campsite, it’s a Caravan and Motorhome Club Site.
“The site is a bit of a hidden gem.”
“You might get a bit wet and rainy staying in Wiltshire over the half-term.
“But the beauty of this break is you can stay on a caravan club site right next to Longleat Safari Park, which means you can be car-free for your entire stay.
“We’ve spent the last three October half-term holidays staying in Longleat, no matter the weather.”
Located within the grounds of Longleat (the first safari park to open outside of Africa), families have praised the campsite because it’s within walking distance of the safari park.
And Rachel isn’t the only holidaymaker who has praised the campsite, with others raving about the site in online reviews.
One person wrote: “Brilliant site with lots nearby and easy access to Longleat. It’s an ideal base, especially if you have kids.”
Another added: “The facilities were spotless and the wardens very friendly. We could even hear the seals from out pitch.”
A third person wrote: “An absolutely fabulous campsite with beautiful surroundings.”
Other facilities on-site include a family washroom, a TV room, dishwashing area, accessible showers and Wi-Fi.
Stays at Longleat Club Campsite start from £18.70 per night, making it ideal for Brits on a budget.
There are other attractions in the grounds of Longleat too including it’s own miniature railway that will celebrate it’s 60th anniversary next year.
Taking around 12 minutes, the train takes passengers around the park’s woodlands and lake, where you might even spot sealions.
There is also the huge hedge maze, not only the largest in the UK but one of the longest in the world.
Made up of 16,000 yew trees, it can take as long as 90 minutes to explore – depending on your skill level.
Otherwise there is the huge Adventure Castle playground, with zip wires, climbing frames, slides and a medieval fortress.
Visit in the summer and there is even a splash pad to get wet in.
If you’re there with younger guests, there is the Little Explorer’s Garden, with a new play area for under fives.
And adults can make a trip to Longleat House, a 16th-century stately home first opened to the public in 1949.
Rachel’s Favourite Campsites in Swanage
IN THE last five years, Rachel and her family have stayed at three campsites in Swanage – here’s what they’re like…
Haycraft Club Campsite
Located near Harmans Cross Train Station, holidaymakers can board a train on the Swanage Railway line to reach Swanage. The site is currently closed for refurbishment but is set to reopen in March.
Touring pitches start from £17 per night.
Hunter’s Moon Club Campsite
Set in Wareham, Hunter’s Moon Club Campsite is slightly further afield with holidaymakers needing to drive to reach the seaside.
Touring pitches start from £15.60 per night.
Norden Farm Campsite
The family-run campsite is Rachel’s favourite place to bag a pitch in Dorset because it is also a working farm, adding a touch of rural and rustic charm. Located on the Wareham-Swanage Road just outside of Corfe Castle, the campsite is close to famous beaches like Studland and Sandbanks. The site is open until October 31 – depending on the weather. Touring pitches start from £23.
Visitors can go on a guided tour of Longleat House exploring hundreds of paintings, tapestries, hand-painted Chinese wallpaper and ornate ceilings that were inspired by Venetian Palaces.
Entry into Longleat House costs £29.95 per person.
Away from Longleat, there are plenty of other activities and attractions to keep holidaymakers entertained.
An iconic attraction is the Westbury White Horse – a white chalk drawing etched into the side of a hill.
Once thought to be one of 13 white horse drawings around the UK, only eight remain to this day, with the most recent one added in 1999 to mark the millennium.
Another Wiltshire haunt that’s perfect for Halloween is Avebury, home to 100 huge standing rocks dubbed the Avebury Henge.
The stones are both older and larger than Stonehenge, and date back to between 2850 BC and 2200 BC.
It’s free to visit, and visitors can even touch the stones at the historic site too – something that isn’t allowed at Stonehenge.
Earlier this year, Rachel revealed her favourite place for a UK break in her caravan, with a quintessential seaside town bagging the top spot.
Meanwhile, these are the top-rated holiday parks with on-site waterparks and pools.
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