Maruti is gearing up to enter the space in 2025. The company is developing its first EV model at its Gujarat plant, with plans to launch six EV models by 2031 that would comprise 15-20% of total sales
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 […]
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 […]
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 […]
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 […]
India’s two-decade long efforts to offer itself as an alternative to China in electronics manufacturing is finally finding success, thanks to a variety of global and local developments
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 […]
The car dealership chain said it also expects sales Mercedes Benz to accelerate, and that it has started operations for MG Motor in Madhya Pradesh
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 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 […]
HDFC Securities has upgraded its rating on Mahanagar Gas Ltd (MGL) to Buy from Add, citing an attractive valuation for the city gas distribution company in light of recent correction in its price. HDFC Sec has set a target price of Rs 1,210 per share on MGL, about 18% higher than the current market price […]
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 […]
Brokerage Motilal Oswal Securities Ltd said expects Nifty earnings to grow by over 20% in in the current financial year, suggesting the possibility of a similar appreciation in their stocks. It based in optimism on healthy corporate earnings in the first quarter and upbeat management commentary. MOSL pointed out that corporate earnings for the June […]
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 […]
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 […]
India imposed import tariffs on PCs, laptops and servers recently to spur local manufacturing and lower security threats from China, but getting the policy to work is easier said than done
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 […]
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 […]
HBL Power Systems is well placed to o ride surging demand for batteries in railways, industrials and defence sectors, and the stock should Rs 322 in 6-9 months, said the broker
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 […]
