Sobha Ltd’s hard days seem over, time for a relook- HDFC Sec

Leading brokerage HDFC Securities has come out with a positive outlook on real estate developer Sobha Ltd, stating that headwinds are largely priced in and risk-reward is now favorable for further rerating. The brokerage believes the stock’s underperformance versus real estate sector makes valuations compelling for investors to make a fresh entry. In an in-depth […]

Sugar Prices Likely To Go Up As Output Under Stress – JM Financial

Favorable seasonal and production factors that are expected to boost sugar prices in coming days, said JM Financial Institutional Securities in a report titled “Turning Sweeter”. The primary reasons for the bullish outlook on sugar prices has to do with international prices and India’s own buffer stock situation. The upcoming festival season in India, which […]

Kotak Institutional withdraws mid-cap portfolio recommendations citing ‘irrational exuberance’

Leading Indian brokerage firm Kotak Institutional Equities has sounded the alarm on the recent rally in mid- and small-cap stocks, warning clients that the sharp increase reflects “irrational exuberance” among investors rather than fundamentals. As a result, Kotak has dropped its recommended mid-cap portfolio, saying it could not justify recommending stocks trading significantly above fair […]

August a washout, Cement makers try again for a price hike in Sep

Cement companies across India have announced significant price hikes for September 2023 following a decline seen in cement prices in August compared to July levels, said IIFL Securities after talking to dealers. According to the broker, cement manufacturers have indicated price increases of around Rs 35 per bag in the Eastern markets. Other regions like […]

As India bans computer imports, Dixon Tech smells multi-billion opportunity

Homegrown electronics manufacturing services company Dixon Technologies is betting big on domestic IT hardware production under the government’s production-linked incentive (PLI) scheme. With approvals in place, Dixon is poised to manufacture laptops, tablets, all-in-one PCs and servers in India. Dixon started operations in 1993, commencing with the assembly of colour televisions. Over the years, the […]

Kotak Institutional Equities Stays Negative on Vedanta Amid High Leverage Risks

Kotak Institutional Equities has reiterated its sell rating on diversified metals & mining company Vedanta Ltd, citing significant leverage concerns for the parent Vedanta Resources Ltd (VRL). In a note on Tuesday, Kotak trimmed the fair value estimate for Vedanta to Rs 200 per share from Rs 215 earlier. The stock is trading at around […]

Kotak Institutional ‘Cautiously Optimistic’ on Emerging Markets

Kotak Institutional Equities has laid out a cautiously optimistic view on emerging market (EM) equities in its latest strategy report, arguing that select countries could benefit from favorable demographics and improving economic fundamentals. However, EMs will need to manage risks from democracy and disruption to realize their long-term potential. India will hold a pivotal position […]

Even As China Stumbles, Indian Economy Shows No Signs Of A Slow Down

India’s manufacturing and services sector activity continued to expand at a robust pace in August 2022, as per the latest Purchasing Managers’ Index (PMI) data. The manufacturing PMI rose to 58.6 in August from 57.7 in July, while the services PMI moderated slightly to 60.1 from 62.3 in the previous month. Nevertheless, the strong PMI […]

Rising generic threat in India not reflected in Pharma valuations – Kotak Institutional

A new report by Kotak Institutional Equities suggests that investors may be underestimating the threat posed by generic drugs to the ‘branded generics’ business of leading Indian pharmaceutical companies. The report highlights that current implied valuations of around 30-40x FY2025 EPS for most major pharma firms assume a relatively benign 10-11% growth in the Indian […]

“Limited opportunities” to make money in Indian equity markets due to rich valuations – Kotak Sec

Opportunities for making money in the current equity markets in India are ‘limited’ given expensive valuations across sectors and potential risks of earnings-downgrades, Kotak Securities’ Private Client Group warned in its monthly update. “The future for the markets may not all be all rosy with headwinds arising also from international shores with the U.S. Fed […]

Indian equities can go higher, but money may shift to large-caps: Axis Securities

Even as worries of high valuation and rising interest rates in the US give pause to some investors, Axis Securities has reiterated its positive outlook on Indian equity markets in its latest report for September 2023. The broking arm of Axis Bank highlights that the structural trend for the market remains positive, however, it expects […]

Systematix puts a ‘buy’ on Pfizer India on drug strong pipeline

Equity research firm Systematix Institutional Equities has initiated coverage on pharmaceutical major Pfizer Ltd with a “Buy” rating and set a target price of Rs 4,954, indicating an upside potential of around 30% from current levels. The broking house said the recent slowdown in Pfizer Inc’s Indian subsidiary was due to temporary factors and its […]

Maruti Suzuki roars back, as SUV sales more than double in August

Maruti Suzuki Ltd, India’s largest auto maker, reported robust numbers for August, as it consolidated its recently acquired status as India’s top SUV maker. The company’s total vehicle sales for August rose 14.5% on the year to 1.89 lakh vehicles, led by strong sales of SUVs. The automaker, which recently launched the much-awaited 4-wheel drive […]