Apple to get a bite of credit card market

• Follow

US tech giant Apple is planning to roll out Apple credit cards in collaboration with the HDFC Bank. The credit cards may be dubbed as Apple Cards if RBI allows, MoneyControl reports. Plus, the tech juggernaut is also looking to launch Apple Pay similar to Paytm wallet, PhonePe or Amazon Pay. The Apple card may be linked to Apple Pay. Customers will get interest against balance lying in their wallet in Apple Pay. They will also get discount and cashback offers on purchases made with Apple card.

Prabhudas Lilladher sees 20% upside on this stock

Brokerage firm Prabhudas Lilladher has increased price target on Fortis Healthcare to 365 rupees from 330 rupees earlier. On Friday, the scrip closed at 304 rupees. The brokerage house sees 20% upside in the stock from current levels. At current market price, the brokerage sees the stock at 20 to 25% discount to its peers. The brokerage is positive on margin improvement chances of the hospital stock.

MFs lapped up Zomato, Nykaa, etc in May’23

According to a report by Economic Times, taking advantage of falling share prices, mutual funds, lapped up shares of beaten down stocks in May, 2023. These stocks are Zomato, Vodafone Idea, Nykaa, Suzlon Energy, HDFC Life Insurance, Indus Towers, Crompton Greaves, Engineers India and Infosys. Retail investors closely track investments made by mutual funds and FIIs. Mutual funds picking up stocks of these companies might positively impact retail participation in these stocks.

Derivatives Research bullish on Interglobe

Derivatives Research, Senior VP, Akshay P Bhagwat has given three stock recommendations. According to him, these three recommendations will help investors earn more money at a time when markets are near all time high levels. His first recommendation is NTPC. Bhagwat has given a target price of 240 rupees and 170 rupees stop loss. On Friday, NTPC closed at 186 rupees per share. His second recommendation is Interglobe Aviation. Bhagwat has given it target price of 2,900 rupees keeping 2380 rupees stop loss. He has advised investors to add Interglobe on dips. His third recommendation is Exide Industries. He has given it target price of 290 rupees keeping 200 rupees stop loss.

Indians withdrawing Swiss bank deposits thick and fast

Ever since, news of Indians keeping black money in Swiss bank deposits surfaced in front of this world. People have been withdrawing deposits in Swiss banks. In 2006, Indian citizens’ bank deposits in Switzerland amounted to 6.5 billion Swiss francs. While, as of latest data of Swiss National Bank, deposits kept by Indians with different banks in Switzerland have nearly halved to 3.42 billion Swiss francs by 2022. But Indian authorities have declined to accept that the deposits are black money. Swiss National Bank has also said that it is in constant touch with authorities in India regarding remittances made by Indians to Switzerland. There is no proof that these were black money.

E-book Invicto for Rs 25,000: Maruti

Maruti Suzuki has teased-off glimpses of its upcoming MPV, the Invicto. Touted as Toyota’s flagship car Innova’s rival, Maruti has already kick-off bookings of the MPV on its website. Customers can e-book the model for 25,000 rupees. According to media reports, Maruti has already begun dispatches of the car to dealers even before launch. Invicto will be available in Nexa outlets.

Gov may cut fuel prices by Rs 4-5 per litre

Government can cut petrol and diesel prices in run up to state elections in November-December period, this year. According to a report published by a financial services company, considering trajectory of international crude oil prices, government might cut mobility fuel prices by 4 to 5 rupees per litre. Fuel prices were last reduced in 2022. The government has not cut fuel prices so far in current year. Cut in mobility fuel prices will give relief to citizens.

‘Make in India’ chips from Dec ’24: Vaishnaw

After made in India iPhones now computer storage chips will also be made in India. Briefing media, Union Minister for Communications and IT Ashwini Vaishnaw said on Friday US based computer storage chip maker Micron will set up its semiconductor assembly plant in Gujarat. By December next year, India will be manufacturing semiconductors right here. This will reduce the need for import of computer chips. It will also reduce the burden of fiscal deficit on the government. It will also help reduce waiting period of passenger vehicles.

MPC close to damaging economy: MPC member

As per the minutes of the MPC meet held earlier this month, a member of the RBI’s monetary policy committee has made some startling revelations. The member has said that the RBI’s committee is dangerously close to levels at which it can inflict significant damage to the economy. The committee had kept the repo rate unchanged for second time in a row after increasing it to 6.50%. The other day, RBI governor Shaktikanta Das said inflation flight was only half over. CPI retail inflation for the month of May 2023 had fallen to 26 months low of 4.25%.