“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 […]

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 […]

Market Outlook: Nifty 50 seen facing resistance at 18,000-18,200

An analysis of the futures & options trends indicate that NSE Nifty 50 index is expected to face resistance at around 18,000-18,200 points this week, and will find support between 17500-17300. With uncertainties around Fed, Budget and global economy persisting, traders appear wary of taking large bets. This implies rangebound action will likely continue into […]

Mid-Year Review: Top 10 stocks to watch out for in second half of 2023

While 2023 has been a wild ride for stock investors in India so far, market volatility doesn’t mean that there aren’t enough front-line stocks with interesting tales of their own this year. There are several stocks that could outperform on the back of strong fundamentals and growth drivers, from sectors ranging from lending, IT services, […]

Eros Intl says working with CARE on credit rating

Eros International Plc, listed on the New York Stock Exchange, denied short-seller allegations about financial misappropriations at the the India-based content aggregation company said it was also working with CARE Ratings to address their concerns. It also announced a $20 million (Rs 138 cr) share repurchase program. The company’s stock also took a knock last […]

Reliance Industries 10 rupees away from $100 bln market cap, after TCS

Three months after Tata Consultancy Services became the first Indian company to achieve a market capitalization of $100 bln (Rs 6.85 lakh cr), Reliance Industries is close to the $100 bln mark as well. At present, there are only around 100 companies in the world whose shares are worth $100 bln or more, including the […]

Moody’s downgrades IDBI Bank over lower govt support

Moody’s Investors Service has downgraded debt issued by IDBI Bank over concerns on “reduction in the amount of extraordinary government support incorporated into the bank’s ratings and its weak standalone credit profile,” the bank said. While earlier, Moody’s used to assume that government support for IDBI Bank was at the top-end of the ‘very high’ […]

Glaucus questions stock price of Hong Kong-listed Fullshare Holdings Ltd

Glaucus Research Group, a California-based short seller, said it was selling Hong Kong-listed developer Fullshare Holdings due to peculiar trading patterns seen in the stock’s counter. “Fullshare is supposedly a commercial and residential property developer, but this business is tiny compared to its market capitalization. In FY 2016, Fullshare generated a paltry RMB 132 million […]

Vodafone Idea merger to save Rs 7,000 cr per year; one-time cost Rs 3,000 cr

The Idea Cellular-Vodafone merger announced today will save about Rs 14,000 cr in operating expenses per year for the combined entity after four years of merger, the two companies said. However, due to the applicability of spectrum caps on the combined entity, the deal will also cost Rs 3000 cr in present value in terms […]

Vodafone merger values Idea at Rs 109.76 per share

The merger deal between Idea Cellular and Vodafone India values equity shares of the Aditya Birla Group company at about Rs 109.76 at the time of completion of the merger, 2% below its present trading value. According to the terms of the contract, when the merger of¬†Vodafone India¬†with Idea is completed, Idea will issue a […]

Investors starting to understand Mukesh Ambani’s telecom game – Angel Broking

Investors are only now starting to realize the plan that Mukesh Ambani and his telecom brainchild, Reliance Jio, have put into practice, and are therefore driving stock prices of his company higher, said Angel Broking, a retail-only stock-broker. Reliance Industries share prices surged 11% on Wednesday, the first time it has moved so much in […]

Nandan Denim to issue 50 lakh warrants at Rs 200 each

Nandan Denim Limited (NDL), a Gujarat- based fabric manufacturer, said it is planning to issue 50 lakh convertible warrants to foreign investors at Rs 200 each, aggregating to Rs 100 cr. “The company will be issuing 25 lakh fully convertible warrants each to Foreign Portfolio Investors, LTS Investment Fund Ltd and LGOF Global Opportunities Ltd […]