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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, and Hyderabad: Fuel prices remain unchanged on Tuesday, 17 January 2023, keeping costs steady for more than seven months now. In Delhi, petrol price is priced at Rs 96.72, while diesel in the National Capital is retailing at Rs 89.62 per litre. In Mumbai, petrol is retailing at Rs 106.31 per litre, and diesel is selling at Rs 94.27 per litre. The last country-wide change in fuel rates was on 21 May last year, when Finance Minister Nirmala Sitharaman slashed excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel.

Since the cut of excise duty by the central government, some states have also reduced VAT prices on fuels. Himachal Pradesh government on January 8 increased value-added tax (VAT) on diesel by Rs 3 per litre. The hike varies as per different fuel stations. On the other hand, the govt slashed taxes on petrol by 0.55 paise. After the revision, the VAT on diesel will now go up to Rs 7.40 per litre from Rs 4.40 per litre, pushing prices in the state to Rs 86 per litre.

Petrol, and diesel prices in Chennai, Kolkata, Bengaluru, Lucknow, Noida, Gurugram

Kolkata: Petrol rate today: Rs 106.03 per litre, Diesel rate: Rs 92.76 per litre

Bengaluru: Petrol rate: Rs 101.94 per litre, Diesel rate: Rs 87.89 per litre

Lucknow: Petrol rate: Rs 96.57 per litre, Diesel rate: Rs 89.76 per litre

Noida: Petrol rate: Rs 96.79 per litre, Diesel rate: Rs 89.96 per litre

Gurugram: Petrol rate: Rs 97.18 per litre, Diesel rate: Rs 90.05 per litre

Chandigarh: Petrol rate: Rs 96.20 per litre, Diesel rate: Rs 84.26 per litre

Mumbai: Petrol rate: Rs 106.31 per litre, Diesel rate: Rs 94.27 per litre

Delhi: Petrol rate: Rs 96.72 per litre, Diesel rate: Rs 89.62 per litre

The prices of petrol and diesel change state by state, depending upon various criteria such as Value Added Tax (VAT), freight charges, local taxes, etc. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise their prices daily in line with international benchmark prices and forex rates. Any changes in petrol and diesel costs are implemented from 6 am every day.

Oil prices fell in early trade on Tuesday as recession fears dominated headlines out of the World Economic Forum’s meeting in Davos, draining optimism that stoked the market last week on prospects of a fuel demand recovery in top oil importer China. Brent crude futures were down 38 cents, or 0.5%, at $84.08 at 0114 GMT, extending a 1% loss in the previous session. US West Texas Intermediate (WTI) crude futures slid $1.16, or 1.5%, to $78.70 from Friday’s close. There was no settlement on Monday due to a U.S. holiday for Martin Luther King Day

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Contributions to mutual fund schemes through systematic investment plans or SIPs remain unfazed by the market volatility in 2022 with inflow growing to Rs 1.5 lakh crore in 2022, a surge of 31 per cent from a year earlier, due to higher retail participation.

In comparison, an inflow of Rs 1.14 lakh crore through the route was registered in 2021 and Rs 97,000 crore in 2020, data from the Association of Mutual Funds in India (AMFI) showed.

Going ahead, SIP numbers are expected to continue to remain strong in 2023 as investors are increasingly appreciating the importance of regular investing through the route, Kaustubh Belapurkar, Director – Manager Research at Morningstar Investment Adviser India, said.

“As newer investors come to the fore, the SIP numbers will continue to increase. While SIP numbers will remain strong, lump sum flows will be dependent on market levels and volatility, we have seen investors book profits when markets run up and re-allocate to equities when markets are lower,” he added.

Priti Rathi Gupta, Founder and MD at LXME, said the trend of investing through SIP would gain even more momentum this year to enable the financial inclusion of investments by people beyond traditional instruments which will further contribute towards the increase in the assets under management (AUM).

SIP is an investment methodology offered by mutual funds wherein an individual saver can invest a fixed amount in a chosen scheme periodically at fixed intervals – say once a month, instead of making a lump sum investment. The SIP instalment amount can be as small as Rs 500 per month.

The SIP book has grown consistently from Rs 11,305 crore in December 2021 to an all-time high of Rs 13,573 crore in December 2022. This was also the third time in a row when monthly SIP contributions touched over Rs 13,000 crore.

During the calendar year, SIP inflows averaged more than Rs 12,400 crore per month, helping investors to stay in the stock market and benefit from Rupee cost averaging. The steady inflow suggests resilience in domestic inflows, which have been a solid counterbalance to FPIs (Foreign Portfolio Investors) selling.

“The consistent inflow in 2022 is primarily because of higher retail participation through the SIP route which has become a strong habit for them. This happened despite the fluctuation in the broad market. The inflow from new retail investors from Tier 2 towns onwards has also built up in the last 5 years as mutual funds have become more accessible through the digital channels,” Swapnil Bhaskar, Head of Strategy at Niyo (neo-bank for millennials), said.

Further, SIPs’ assets under management (AUM) climbed 19 per cent to Rs 6.75 lakh crore at the end of December 2022 from Rs 5.65 lakh crore in December-end 2021.

Currently, mutual funds have about 6.12 crore SIP accounts through which investors regularly invest in mutual fund schemes.

Industry experts believe that a staggered investment approach (via SIP or STP) in equity markets seems the ultimate solution to ride the wave of uncertainty as corrections would bring down the average cost of total investments or in case the bull run continues, investors would not lose out on opportunity cost.

The 42-player mutual fund industry mainly depends on SIPs for inflows, with equity mutual funds attracting Rs 1.6 lakh crore in 2022, way higher than Rs 96,700 crore seen in 2021.

The consistent monthly increase in SIP flows has helped the industry to add Rs 2.2 lakh crore to the AUM in 2022 to 39.88 lakh crore from Rs 27.72 lakh crore at the end of December 2021.

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Sah Polymers shares witness a stellar debut on the stock exchanges as stock lists with 30% gains over the IPO price, supported by healthy subscriptions and better financial performance. Sah Polymers shares debuted at a price of Rs 85 on the National Stock Exchange (NSE) and jumped 5% to Rs 89 within minutes. The company’s Rs 66 crore IPO was subscribed 17.46 times, backed largely by retail investors and high-net-worth individuals. The company set the issue price at Rs 65 per share, the upper end of the band of Rs 61-65 per share offered. Premium listing for the stock was expected as ahead of the listing, Sah Polymers shares commanded a grey market premium of 10-15%, and the public offer received a healthy response.

Santosh Meena, Head of Research at Swastika Investmart expected Sah Polymers to have a positive listing. “The market for polymers is anticipated to reach US$790 billion by 2027, expanding at a CAGR of 5.5% from 2022 to 2027. Sah Polymers’ business has a wide range of clients from different industries and regions, as well as a robust product offering. A management team with expertise is also advantageous. The business has recorded significant growth on the financial front,” Meena said.

The IPO, which consisted of only a fresh issue of 1.02 crore equity shares, received bids for 9.8 crore shares against 56.1 lakh shares on offer, according to exchange data. The initial public offer got subscribed to 17.5 times on the last day of the offer. The category for the Retail Individual Investors (RIIs) portion received 39.8 times subscriptions and high net-worth individuals 32.7 times. Investors could bid in multiples of 230 equity shares with the minimum investment by retail investors at the upper end of the price band being Rs 14,950 for one lot, while the maximum would be Rs 1,94,350 for 13 lots.

Sah Polymers earlier said that it will use these funds to up a new manufacturing facility for producing a new variant of Flexible Intermediate Bulk Containers (FIBC), repayment of borrowings, and also fund the working capital requirements. The Udaipur-based bulk packaging solutions provider is primarily engaged in the manufacturing of high-density polyethylene (HDPE) FIBC bags, polypropylene (PP), woven sacks, and woven polymer-based products among others. In India, the company has a presence in six states and a union territory. Apart from this, Sah Polymers has a presence in six regions across the world. The company is 100% owned by the promoters with Sat Industries holding 91.79% shares and Sat Invest having the rest.

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India has exported 16.92 lakh tonnes of sugar till January 4 of the ongoing 2022-23 marketing year, including 59,596 tonnes of the sweetener to neighboring China, trade body AISTA said on Tuesday. Among other neighboring nations, India has exported 1.47 lakh tonnes of sugar to Bangladesh, and 82,462 tonnes to Sri Lanka during October-January 4 of the current marketing year, All India Sugar Trade Association (AISTA) said in a statement.

The sugar marketing year runs from October to September. The government has allowed the export of 6 million tonnes till May of the 2022-23 marketing year. According to AISTA, mills have exported a total of 16,92,751 tonnes of sugar from October 1, 2022, to January 4, this year

Over 3.47 lakh tonnes of sugar is under loading, while 2.54 lakh tonnes of sugar has been delivered to refineries considered to be exports in the said period. Of the total exports undertaken so far, the maximum exports have been to Somalia at 1.70 lakh tonnes, followed by the UAE at 1.69 lakh tonnes, Djibouti at 1.50 lakh tonnes, and Sudan at 1.37 lakh tonnes.

Over 3.47 lakh tonnes of sugar is under loading, while 2.54 lakh tonnes of sugar has been delivered to refineries considered to be exports in the said period. Of the total exports undertaken so far, the maximum exports have been to Somalia at 1.70 lakh tonnes, followed by the UAE at 1.69 lakh tonnes, Djibouti at 1.50 lakh tonnes, and Sudan at 1.37 lakh tonnes.

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Rakesh Jhunjhunwala, who passed away last year, was one of the most successful investors in the country. Jhunjhunwala, known as the Big Bull, was an optimist who believed that ‘the best (of the market) is yet to come’. The billionaire investor also called ‘Warren Buffett of India’ set an exemplary example of how to create wealth from stock markets. He began his investment journey with Rs 5,000 and left $5.8 billion (about Rs 47,000 crore) in wealth, according to Forbes data. Over the years, investors have followed Rakesh Jhunjhunwala’s advice, investing nuggets to emulate his success in stock market investment.

Jhunjhunwala was admired for his courage to trade against the overwhelming market sentiment. This resulted in phenomenal gains for him on several occasions. While Jhunjhunwala is no longer with us, the investment principles he has left behind can still guide beginner investors. If you are also one of those who are looking to start their stock market investment journey this year, here are Rakesh Jhunjhunwala’s 5 investment strategies that can help you start and hopefully lead you to reap handsome returns in the future.

Rakesh Jhunjhunwala’s 5 timeless investing principles

Buy right, sit tight, and don’t panic

Rakesh Jhunjhunwala strongly believed in the ‘buy right and sit tight’ principle. He always advised investors to do their own research, buy the right stock and then hold it till an opportune time. ‘Build a fighting spirit, take the bad with the good… Have faith in the company’s business. Don’t let panic drive your investment decisions,’ Jhunjhunwala often said. So, as a newbie to stock market investment, when you are convinced about the business model of a company and its sustainability, there is no need to panic from short-term sentiments. Go with your conviction, and stick to your investment.

Go against the tide

Rakesh Jhunjhunwala’s quote, ‘Always go against the tide. Buy when others are selling and sell when others are buying,’ is used by various investment advisors to date. One of Jhunjhunwala’s investing strategies was buying stocks at discounted prices when the market was down, and selling when the market was on the rise. He himself traded against overwhelming market sentiment, especially in bearish times, and then used windfall profits to buy or add in fundamental long-term picks in which his conviction was high. This way, he was able to multiply his wealth with a unique combination of short-term trading and long-term investing. If you have the ability to take a risk when markets are down, this investment principle can help you out.

Never let emotions guide your stock ideas, investment

When Rakesh Jhunjhunwala turned 50, he was asked by a reporter whether he sometimes got emotional about any of his stock ideas. In response, Jhunjhunwala had said that if he had any emotions, then they were for his loved ones, but surely he was not so emotional about any of his stocks. ‘I would not say there is no emotion when you have invested for such a long period of time, but they are not such emotions that will not part ways,’ he had said. So as a beginner investor, the lesson you can take away from this is to invest in the stock market (usually for the long term), but if you want to get rich, then never get emotional about your stock ideas and exit on time, when needed.

Never invest at unreasonable valuations

Rakesh Jhunjhunwala strongly suggested investors look at the valuations of the stock before making any investment decision. ‘Never invest at unreasonable valuations. Never run for companies that are in the limelight, Jhunjhunwala used to say. His advice holds even more weight now as in the recent past, we have seen several stocks like Paytm, Nykaa, PB Fintech, and Zomato, which had extremely high valuations at the time of stock market debut, destroy investors’ wealth. As you start your share market investment journey, whenever you see a stock trading at unreasonable valuations, avoid going for that. Or, you may end up losing your hard-earned money.

Have realistic return expectations

The Dalal street maverick advised people to trade with their own money as it ensures that people will take calculated risks and avoid their capital from unwarranted erosion. He often asked investors to have realistic return expectations. “If you’re able to earn an 18% return on your portfolio, you are no less than a king and if the return is 21%, you are an emperor,” he used to say. In a 2018 interview, Rakesh Jhunjhunwala told SIP investors to not expect a rate of more than 12-18% from equity markets. “If you are in a SIP, I’m confident you will get it. Don’t try to be over-smart,” he had said.

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