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M&M Fin’s robust April, Bombay Burmah falls on Go First insolvency, Lemon Tree reveals expansion plans. A short 🧵on the top trending stories of the hour. #MarketUpdate
⭐ M&M Fin’s robust April
Mahindra & Mahindra Finance (+1.3%) reported a 39% YoY growth in total disbursements in April 2023. The company’s total disbursements stood at around ₹3,775 crore. Meanwhile, its total business assets stood at ₹83,900 crore at a growth of 1.4%.
⭐ Bombay Burmah falls on Go First insolvency
Shares of Bombay Burmah Trading Corp declined nearly 10% intraday. This comes after Go Airlines (India), operating as Go First airlines, has filed for insolvency proceedings. Bombay Burmah holds a 32.6% stake in the✈️via subsidiaries.
Read 5 tweets
#marketupdate, IMO from on-chain is sideways then bullish in maybe a week or so.

Some downside risk if stonks tank, a lot of rallying in the DXY (USD strength) which is typical of money moving to safety.
The first thing to look at is to answer "are we in a bear market". Welp, bear markets start when no new buyers enter to support price and that aint happening, we have healthy growth of new users joining the network.

Let this frame all other metrics.
Of primary interest is capital rotation from stablecoins back into the crypto markets (I'll say that's mainly BTC since alt coins are reducing in dominance).

All of that dry powder sitting on the sidelines has started flowing back in.
Read 11 tweets
#marketupdate, breaking it down, post mortem.

We just saw the single largest 1-day drop in mining hash rate since Nov 2017. The hash rate on the network essentially halved, causing mayhem in BTC price as it crashed.
The power outage in Xinjiang (which powers a significant amount of the BTC mining network) was known before the BTC price crash. Here's local news on 15th April.…
16 April.

9000 BTC was sent into Binance, read that as a sell off of those coins.

I'd note that Binance serves volume from Asia more than the West. It's likely this was sent in from a whale with closer knowledge to happenings in China.
Read 10 tweets
Tomorrow kicks off the JP Morgan Healthcare Conference, one of the most information-dense and exciting weeks for biotechnology.

Though I’ll miss annual lab tours, I’m excited not to have my shoes destroyed amidst all the shoulder-to-shoulder crowds.
Unlike last year, I’m going to try to give a daily news recap once the US trading session closes (inspired by @aurmanARK). My hope is to aggregate input from folks who can offer alternative takes.
We’ve got our #mARKetUpdate webcast on Tuesday, where I’ll be talking more about my recent blog on earlier #cancer detection as well as plans for including community feedback in the forthcoming white paper.…
Read 6 tweets
An Women turned her initial ₹20,000 Investment into a net worth of ₹1,000 Crores.

Story of RAJNI BECTOR Founder of @cremicafoods (Bector's Food)

A #Thread 🧵🧵

@ipo_mantra @FinKrypt @Vivek_Investor @JoePompliano

Hit the 're-tweet' and help us educated more investors..
Imagine a woman who once used to prepare ice creams in the backyard of her Ludhiana home as her way to fight boredom heading a Rs.1,000 crore food enterprise.

#burgerking #food @FinancialAdda @stocktalk_in
Mrs Bector was born in karachi and then moved to Delhi with her family.
After her children went to boarding school, she noticed that there was huge demand for her desserts. 

#Delhi #India #market
Read 25 tweets
#MarketUpdate THREAD

SOPR is the chart I care most about RN.

Profit-takers initiated weeks ago, we need to wait until they exhaust before there's full freedom to explore new highs.

It's a waiting game, likely until Jan 2021 for a full reset.

Till then beware of bull traps. Image
SOPR by @renato_shira is a lie-proof "survey of investors to determine their profit or loss for the coins that transacted in a day". We like to use SOPR because all investors lie about their losses and on-chain guys like smart sounding acronyms.

More details here: Image
Once SOPR starts declining, profit taking begets profit taking. We wait until all investors in profit who are going to sell to complete their sell off, when this happens, coins moving no longer carry profit, SOPR goes to 1.0, and we can move forward. ETA January perhaps. Image
Read 6 tweets
#MarketUpdate THREAD

The most organic pump I've seen in years.

This was not a squeeze from derivatives traders but from solid organic buying.
Exhibit A:

A ridiculous amount of coins were scooped up and moved off to individual wallets. Image
Zooming out, putting this into perspective, it's the largest one day scoop up in this 5-year chart. Image
Read 10 tweets

We're seeing a spike in activity by new participants coming into BTC not yet reflected in price, it doesn't happen often. This is what traders call a divergence, in this case it's obviously bullish.

Chart by @glassnode Image
We're seeing another impulse of coins changing hands completing.

My interpretation is that the last pulse was take profit, halting the downward move; this impulse should be the one that drives us upwards. Image
The other interpretation is it's an impulse to push us downwards, but that seems unlikely given OBV (an indicator looking at volume movements) is showing quiet accumulation is taking place. Image
Read 6 tweets
The top community questions for tomorrow’s #mARKetUpdate concern our investment thesis around Invitae ($NVTA).

I’m going to begin attaching my references (🔗) below, as well as some of my previous work, to help lay the groundwork for my thoughts tomorrow.
Please keep in mind that I will not be directly comparing companies or stocks. This is not investment advice.
I’m going to be chipping away at this thread over the course of the evening, and I’ll probably be a little slower once college football starts.
Read 48 tweets
(1/n) •Domestic company corp tax cut from 30% to 22 % percent if
they don't avail any exemptions or incentives from FY20
• Effective tax for these companies rate 25.17 percent inclusive of all
surcharge and cesses. Applicable for current fiscal
(2/n) *listed companies which have announced buyback of shares prior to July 5 will not be charged with super rich tax
*All the measures announced will give relief of 1.45 lakh crores annually
(3/n) *Roll back of enhanced surcharge introduced in Budget on capital gain arising from sale of equity shares in a company liable for STT .
* super-rich tax will not to apply on capital gains from sale of any security including derivatives for FPIs.
Read 15 tweets

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