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ICICI Direct

@ICICI_Direct

Dec 17

🎯 Nifty set to hit 28800?

The Technical Yearly Outlook 2025 by ICICI Direct’s Research team is here!

🔸In the journey towards #Nifty hitting 50000 by 2030, it has achieved the milestone of 24800 for the CY24.

🔸We expect the index to hit 28800 in CY25, despite volatility in H2CY24.

The positive bias is validated by following observations

#icicidirect
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Decadal Theory backs this bias

🔸Since 1979, every decade has delivered 4x returns! CY25 marks the "5th year," historically volatile but lucrative, with median returns in the high teens.

🔸This aligns with our 28800 target.

🔸Projection for the current decade (CY21-30) on the basis of CY20 close (Nifty - 13982) works out to around 55,000.

#nifty #decadaltheory
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📈 What do the charts tell us?

#Nifty is projected to continue its northbound journey, supported by the rising channel visible in the monthly chart.
🔸Nifty’s 55-month rally from #COVID lows and #Fibonacci cycles signal a time correction phase nearing completion.
🔸Expect upward momentum towards 28800, with support at 22000.

The weekly chart shows Nifty bouncing off its 52-week EMA, historically a robust entry point.
🔸Buying near the 52-week EMA has yielded median 23% returns over the next 12 months in the past.
🔸Corrections of ~12% provide a favorable risk-reward ratio for investors eyeing the 28800 target.

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ICICI Direct

@ICICI_Direct

Oct 31

TAXABILITY OF DIWALI GIFTS AND BONUSES

Under the Income Tax Act, any gift or bonus received from an employer is considered as part of your salary income, hence is taxable. The tax rate applicable on such income will depend on your overall income slab.

Learn more about this in this thread.

🩷 & 🔄 for better reach!

#Diwali #IncomeTax
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EXEMPTIONS AVAILABLE

Gifts up to Rs 5,000

#Gifts received from an employer up to a value of Rs 5,000 are exempt from tax.

Gifts from a non-relative

Gifts received from a non-relative, such as a customer or supplier, are generally exempt from #tax, irrespective of their value.

#Diwali #IncomeTax
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TIPS TO AVOID #TAX

🔸Claim the exemption up to Rs 5,000, by submitting the necessary documents.

🔸Structure the #gift in a way that it falls within the exempt limit. For example, your employer can give you a gift voucher worth Rs 5,000 and a cash bonus of the remaining amount.

#Diwali #IncomeTax
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Read 6 tweets

ICICI Direct

@ICICI_Direct

Sep 13

Structural uptrend intact; 27000 in sight by March’25

Our Technical Strategy Report forecasts a Nifty rally to 27,000 by March 2025, backed by strong global markets, solid domestic fund flows, and positive seasonal trends. Bank Nifty is expected to outperform, with mid and small-cap indices also set for gains.

📖Part 1 of this 🧵for deeper insights.

🩷 & 🔄 for better reach!
Stay tuned for Part 2: Sectors in Focus.

Technical Outlook...

🔸#Nifty touched 25078 in August, close to our June target, despite global volatility, while maintaining its structural uptrend.

🔸Our latest report outlines future targets and reaffirms our strategy to buy the dips and ride the #bull market.

🔸Nifty remains on track for our CY30 target of 50000, supported by the decadal cycle projections.

🔸We upgraded our FY25 Nifty #target to 27000, with strong #support at 23400, based on our composite model.

🔸Outlook: We expect a multi-quarter consolidation breakout, leading to a 45% rally over the next 6-7 quarters, with a target of 27000 from the current breakout at 18600 (Jun-23).

🔸BankNifty Resumption: The Bank Nifty/Nifty ratio is bottoming, indicating a likely relative outperformance from the #BFSI sector in the coming months.

🔸Seasonal Trends: September has historically dipped 3% in Nifty 15 out of the last 19 years, followed by an average 7% return over the next 3 months.

🔸Global Setup: In #US election years, markets have rallied. The last five election years saw an average 9% gain in US markets from June to December, with Nifty averaging 20%, barring 2008.

🔸Fund Flows: Domestic inflows are mitigating FII selling impacts. Expected #FIIs returns in H2CY24, alongside potential US rate cuts, will enhance liquidity.

🔸Market Breadth: Strong medium-term breadth signals broad participation in the current bull market, with stabilized volatility.

🔸Midcaps & Smallcaps: Projected to gain 10-12% by year-end in a structural uptrend.

Read 18 tweets

ICICI Direct

@ICICI_Direct

Aug 13

"JIO Financial Services : Set to Disrupt the Indian Financial Services Ecosystem”💹

Expanding its product offerings across lending, investments, payments, & insurance space⚡

Key Takeaways from Jio Financial's First Annual Report🧵👇

📌Jio Financial Services Limited

🔸JFSL, as a Core Investment Company (CIC), is a holding company

🔸It will operate its financial services business through its consumer-facing subsidiaries and joint ventures

🔸JFSL is building a customer-first, digital-led, and data & analytics centric financial services organisation

💡“JFSL was built on a substantial net worth of ₹ 1.2 lakh crore and positioned us as one of the world’s highest capitalised financial service platforms at inception.” ~ Mukesh Ambani

📌JFSL Subsidiaries:

🔸Jio Finance Limited (JFL): RBI Registered NBFC engaged in Consumer, Corporate, and MSME lending

🔸Jio Insurance Broking Limited (JIBL): Distributes life, non-life, and health insurance digitally, partnering with 31 top insurers

🔸Jio Payment Solutions Limited (JPSL): A Payment Aggregator leveraging Payment Gateway and Unified Payments Interface for enterprises and small businesses

🔸Jio Leasing Services Limited (JLSL): Provides operating lease solutions to consumers and businesses via a Device-as-a-Service (DaaS) model

🔸Jio Payments Bank Limited (JPBL): A JV with SBI offering digital banking solutions under an RBI payments bank license

🔸JV with BlackRock: AMC, wealth management and broking services, offering comprehensive investment solutions

🔸Reliance Industrial Investments and Holdings Limited: An Investment holding company

Read 12 tweets

ICICI Direct

@ICICI_Direct

Jul 31

Waste Management is crucial due to rising Urban and Industrial waste 💹

With only 30% of 75% recyclable waste being recycled in India, the sector has huge growth potential ♻️

Driven by environmental awareness and regulatory demands, it offers significant opportunities 💰

A detailed thread on key beneficiaries of this trend🧵👇

#wastemanagement
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1️⃣ Gravita India (#GravitaIndia)

📌 Leading in Lead Recycling

🔸 Business Verticals:
Lead, Aluminium, Plastic, Rubber Recycling, Turnkey Solutions

🔸 Expanding Verticals:
Lithium-ion, Steel, Paper Recycling

📊5 Year Sales CAGR: 21%
📊5 Year Profit CAGR: 74%

🔸 Capex Plans:
- ₹600 Cr by FY27
- Capacity expansion to 5,00,000 MTPA

🔸Lithium-ion & Tyre recycling plant by H1FY26
🔸Paper & Steel recycling plants by FY27

...Contd👇

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💡Vision 2028

🔸Entering New Verticals
🔸Volume Growth: 25% CAGR
🔸Profit Growth: 35% CAGR
🔸ROCE: 25%

🔸Increase in value-added products and non-lead business to over 50% & 30%

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Read 15 tweets

ICICI Direct

@ICICI_Direct

Jul 14

The #auto industry saw significant activity this week, particularly around #hybridvehicles and pricing strategies. Here's a detailed breakdown of the events - A 🧵

Uttar Pradesh Government's Registration Fee Reduction

🔸The Uttar Pradesh State Government reduced the registration fee for hybrid cars.

🔸Strong hybrids are now treated like electric vehicles (EVs) in terms of registration benefits, leading to zero registration fees for strong hybrids.

🔸This caused a significant drop in the on-road prices of strong hybrids in the state, approximately 10%.

🔸With Uttar Pradesh being the second-largest market for passenger vehicles (PV) in India, accounting for about 10% of total sales, this move is expected to boost the sales of hybrid cars significantly.

Industry-wide Price Cuts

🔸The price reductions are driven by high channel inventory, estimated at ₹60,000 crore, representing over 60 days of inventory versus a healthy run-rate of around 30 days.

M&M's Price Reduction

🔸Mahindra & Mahindra (M&M) reduced the price of the XUV 700 AX7 variant by ₹1.5-2.2 lakh, labeling it as a celebration offer after reaching a sales milestone of 2 lakh units.

🔸Despite the price cut, M&M's stock fell by 7% as the XUV 700 is a flagship product with an order backlog of around 16,000 units as of May 2024 and a monthly booking rate of approximately 8,000 units versus a capacity of 7,000 units per month.

🔸M&M later clarified that the price cut is part of their strategy to drive growth by reducing the average price point of the XUV 700.

🔸The price cut is for a limited period of four months, and they do not expect any significant financial impact from this move.

🔸Demand for the #XUV700 remains strong, with June bookings up 23% month-over-month.

Tata Motors' Price Reduction

🔸#TataMotors reduced prices of the Harrier and Safari models by ₹50,000-70,000 per unit and offered additional benefits.

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