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 […]
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 […]
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 […]
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
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 […]
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, […]
One 97 Communications, which operates the PayTM payments platform in India, revealed details of its October performance late on Sunday, hours before trading resumed in its shares after a volatile first day on Thursday. The company’s shares had fallen by a whopping 27% on day 1, wiping out around Rs 38,000 cr of investor wealth […]
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 […]
The key Nifty 50 stock index in India is likely to breach the 10,000 support mark this week as the Indian stock market enters what many have called its deepest correction since the 2008 financial crisis. The Nifty, which reflects the stock prices of 50 bluechip stocks traded on the National Stock Exchange, had gone […]
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 […]
Shares of New Delhi Television Ltd spiked another 10% today to Rs 62.40, prompting the BSE to write to the company to seek clarification on any undisclosed development. With this, the total gain in NDTV shares in the last four days is 76%. The company, however, said it was not aware of any development that […]
Wipro has announced details of its buy back of up to 343.8 mln shares or about 7.06% of its total equity base at a price of Rs 320 each for up to Rs 11,000 cr. The Buyback Size is 23.15% of the fully paid-up Equity Share capital and free reserves as per the audited standalone […]
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’ […]
IndiGo Airlines, India’s largest airline by far, is in no mood to go easy on its rapid expansion in coming years, the company said. The company, which accounted for 85% of the total capacity added in the country in the last five years and grew its seats at 24% per year on average, plans to […]
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 […]
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 […]
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 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 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 […]
