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Nifty ended Friday’s session with a gain of 67 points to form a long-legged Doji-type candle pattern, hinting at chances of a trend reversal next week.Nifty continued to show range-bound action within 23,300-23,500 levels and still there is no early signs of any breakouts on either side. A decisive move above 23,500 levels is likely to open an upside breakout and a slide below 23,300 levels could mean a chance of downside breakout of the range movement in the near term, said Nagaraj Shetti of HDFC Securities.Strong put writing was observed at 23,300 and 23,400 in Nifty. All eyes will be on the 23,500 strike in the upcoming week. Call writers have sizable positions at 23,500 strike and the option activity at this strike will provide cues about Nifty’s upcoming direction, chartists said.The market will remain closed on Monday on account of Bakri-Eid.What should traders do? Here’s what analysts said:Jatin Gedia, SharekhanOn the daily charts we can observe that the Nifty has been consolidating in the broad range of 23,200 – 23,500. The more it consolidates around this level the more likelihood of a breakout in the coming week. It has already been five days and we believe that a trending move is likely to unfold. The hourly momentum indicator has triggered a positive crossover from the equilibrium line suggesting that the consolidation has matured and can resume the next leg of up move.Rupak De, LKP SecuritiesNifty remained within the defined range of 23,300-23,500. The short-term sentiment is likely to remain more or less positive. Support levels are seen at 23,400/23,300, where put writers have built significant positions. A decisive fall below these levels might shift the market balance in favour of the bears. Until then, it’s a buy-on-dips market. On the higher end, a decisive move above 23,500 might lead to a sharp upside in the near term.Ashwin Ramani, SAMCO SecuritiesForeign Portfolio Investors (FPIs) long short ratio moved up further to 46% on 13th June from 41% on 12th June as the FPIs built significant long positions and continued to cover their short positions in the index futures for the fifth consecutive day.Nifty closed above the 23,400 level after failing to close above the same level in the previous three trading sessions.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

To encourage social sector spending, markets regulator Sebi has suggested that the government should allow tax benefits to companies investing in zero coupon zero principal bonds issued by not-for-profit organisations listed at the social stock exchange. Talking to reporters here on Friday, Sebi's Whole Time Member Kamlesh Chandra Varshney said the regulator has already sent a proposal to the finance ministry and is hopeful of getting the approval. "We have given the proposal to the government that corporate entities who invest in ZCZPs should get the benefits of CSR (Corporate Social Responsibility). We are hopeful that the government will soon approve the proposal," Varshney said at an event organised by NSE on SSE here. Moreover, the CBDT has already clarified that investors or donors buying such bonds will get the tax benefits under section 8OG of Income Tax rules, he added. These measures will be pertinent towards inclusive growth of the social sector and will help build trust and expand the donor base for the organisations, he said. The 'zero-coupon, zero-principal' are instruments for donating money to non-profit organizations listed on the SSE. The Social Stock Exchange (SSE) is a novel concept in India and such a bourse is meant to serve private and non-profit sector providers by channelling greater capital to them. The idea was floated by Finance Minister Nirmala Sitharaman in her Union Budget 2019-20 speech. SSE is a separate segment of the existing stock exchanges that bring together social enterprises and donors, facilitates funding and growth of social enterprises and enables mechanisms to ensure robust standards of social impact and financial reporting. At present, 8-9 NPOs are listed on the SSE with a collective fundraising of close to Rs 11 crore and now one NPO is soon going to raise Rs 14 crore alone through the platform, NSE MD and CEO Ashishkumar Chauhan said here. "We believe that SSE has a great future ahead in India as the government is committed to supporting the platform, as this will help in the democratisation of investments," he said. Moreover, Sebi has been taking measures to widen the participation of subscribers at the social stock exchange. In November, the regulator reduced the issue size of ZCZP from Rs 1 crore to Rs 50 lakh. It has also reduced the minimum application size for donors to Rs 10,000 from Rs 2 lakh. Last month, Sebi asked social enterprises, which have registered or mobilised funds through SSE, to submit an 'annual impact report' for the financial year 2023-24 to such bourse by October-end. The annual impact report to SSE captures the qualitative and quantitative aspects of the social impact generated by the social enterprise.

How do you get a generation of content lovers who are glued to their sofas and beds at home with their eyes hooked to their devices into your swanky multiplex? It is simple, give them the same content that they can see on their TVs, but on the big screen. The same content, but better, is a strategy PVR Inox is adopting to stay nimble as it caters to a capricious generation that has plenty to spend and plenty to choose from. PVR Inox right now is focusing on multiple strategies to stay relevant, the movie theatre operator told ET Online in an interview. A switch in the battle plan is warranted, as evident from the company’s Q4FY24 figures: Occupancy moderated to 22.6 per cent, average ticket price (ATP) fell 14 per cent, and revenue was down 19.9 per cent QoQ on the back of weak ticketing. Advertisement revenue too declined 25.6 per cent QoQ, impacted by limited big-budget movies and inconsistent performance.To be sure, a lot of it had to do with the once-in-five-years Lok Sabha elections, Indian Premier League (IPL) and a weak pipeline of films. Analysts expect the elections and T20 Cricket World Cup to weigh on the Q1FY25 movie pipeline as well. “In light of the fluctuating footfall in movie theatres, diversification is essential for ensuring the sustainability and growth of our company. We are proactively pursuing diversification initiatives to mitigate the impact of these fluctuations and secure our relevance in the long term,” PVR Inox told ETOnline in an emailed response.Enter: Cricket & concertsPVR Inox has been experimenting with a variety of content to get viewers into their theatres, like film festivals. Some go beyond movie-related content and are offering live concerts, and key sporting events like the T20 World Cup. "Last year, we released the Eras Tour by Taylor Swift and the BTS concert, which did very well and was a huge eye opener as we figured there was sort of genre of content that we could play and it was being received very well by the consumers," said Sanjeev Kumar Bijli, Executive Director, PVR.Experimenting with different content is a strategy adopted by cinemas as viewers are yet to recover from the COVID-19 lull. A FICCI-EY report showed that footfall in 2019 was 1.46 billion, which slid to 900 million last year. Footfalls at PVR Inox itself have not been anything exciting, with Q4 seeing the lowest footfall in the preceding financial year, at 32.6 million.Footfalls were around 1,030 million in 2019 and remained around 892 million in 2022, PVR said in its FY23 annual report. 110995380To spur demand, PVR Inox has started with ‘Passport’, a movie subscription service that offers customers cheaper movie tickets on weekdays. PVR Inox has been offering Japanese anime films as well, which Bijli says do extremely well."In addition to music concerts and anime films, of course, the pipeline is very regular. We managed to get at least one every month or one every two months. Music concerts, we are still trying to bolster that pipeline. We are very keen to expand that as well because the response has been phenomenal," Bijli said.PVR Inox streamed cricket matches last year, as it has done for quite some time now."We are looking at a couple of World Cup matches this year as well. So that is another sort of alternate content that we are looking at building and being more regular with," Bijli said.Regional push: Content & infra PVR Inox has been on a screen rationalisation spree, as it shut down 85 underperforming screens in FY24, while it opened 130 more. In FY25, it plans to shutter around 70 screens and add 120 new ones. Bijli says the company will prioritise screen addition in southern India, while focusing on expanding in tier-II and III cities."A substantial part of our business and admissions over the last couple of years have come from South India and that continues to grow. I think the movie-going index and the propensity to spend on movies is the highest in South India," Bijli said.One reason behind this is their multilingual nature, he said.“If you look at markets like Chennai, Bengaluru or even Kochi, in addition to the regional films that play well there, Tamil, Telugu, Malayalam, Hindi and English films do well there. So, they actually consume multiple language content as well,” he added. 110995410Beyond the consumption pattern, the company has gone big on regional content as well, driven by the demand across the country. Regional content contributed 30 per cent to PVR Inox's overall box office collection in FY24, an ET Online analysis has shown.That said, analysts across the board are expecting FY25 to be a difficult year for multiplexes given the relatively weaker content pipeline. Beyond this, PVR Inox struggles with structural issues as well."Due to a slowed down launch of movies, the company is witnessing operating deleverage, which has impacted the overall profitability, since the company already has significant sizes of fixed costs such as interest expenses and heavy depreciation given it is rapidly expanding screens and has huge debt," Nuvama Research wrote in a note after the company posted its quarterly results last month.

State-owned BHEL on Friday said it has secured orders for two power plants worth Rs 7,000 crore from Adani Group. The first order for the 2x800 MW Raipur supercritical thermal power plant, being set up in Raipur district of Chhattisgarh, has been received from Adani Power Limited, BHEL said in a statement. The second order for the 2x800 MW Mirzapur supercritical thermal power plant, being set up in Mirzapur district of Uttar Pradesh, has been received from MTEUPPL (a subsidiary of Adani Power Limited), it said. BHEL's scope for both projects includes the manufacture and supply of main plant equipment and associated auxiliaries, along with supervision of erection and commissioning. Key equipment for the projects, including steam generators, steam turbines, and generators, will be manufactured at the company's Trichy and Haridwar plants. Bharat Heavy Electricals Limited (BHEL), under the Ministry of Heavy Industries, is India's largest engineering and manufacturing enterprise, operating in the energy, industry and infrastructure sectors.