Benchmark equity indices declined in early trade on Wednesday amid fresh foreign fund outflows and a largely weak trend from global markets. Investors preferred to stay on the sidelines ahead of the start of corporate earnings season and macroeconomic data announcements later this week, traders said. The 30-share BSE Sensex declined 81.35 points to 71,304.86. […]
Public sector companies or PSUs are an important resource for the Centre when it comes to fund raising but that is proving a Herculean task, especially from listed ones. By selling stake, the Centre achieves twin targets of meeting minimum public shareholding (MPS) norm for listed players and raising funds for its kitty. According to […]
India has toppled Taiwan to take the second place in the MSCI EM Index, with a weightage of 17.1 per cent. The country’s representation in the index is poised to top 20 per cent in the coming months, according to analysts, which could give a further fillip to overseas flows and cement the country’s place […]
Target: ₹3,600 CMP: ₹3,385.30 KEI Industries is on a healthy and sustainable growth trajectory as it is catering to diversified user industries, increasing its focus on the retail segment, strengthening its high-margin EHV, and carrying out capex to meet the rising demand. Additionally, the company has been gaining significant traction in exports. Operating margin is […]
The board of Grasim Industries has approved ₹4,000-crore rights issue. The issue price has been fixed at ₹1,812 a rights share when fully paid-up and the record date as January 10. The rights issue will open on January 17 and close on January 29. The rights entitlement ratio has been fixed as six rights shares […]
Target: ₹1,400 CMP: ₹1,297.50 After underperforming its listed peers on pre-sales growth over FY21-23, we believe Sobha is set to outperform in terms of growth given its focus on unlocking its vast land reserve and exploring external growth opportunities through its healthy balance sheet. The outperformance is also expected to be driven by improvements in […]
Vedanta has allotted, on a private placement basis, 3,40,000 Secured, Unrated, Unlisted, Redeemable, Non-Convertible Debentures of face value ₹ 1,00,000 each aggregating to ₹3,400 crore. Religare Enterprises Ltd on Wednesday said its Chairman Rashmi Saluja has not been issued any additional stock options of Religare Finvest, rebutting a call for an investigation by the Burman […]
The board of PTC Industries on Wednesday approved preferential issue of up to 2.35 lakh shares to certain non-promoters at ₹6,000 each, aggregating up to ₹141.25 crore. Among the investors are Ashish Rameshchandra Kacholia and Himalaya Finance & Investment Co (one lakh shares each). Shares of PTC Industries, after jumping to as high as ₹7,479.90, […]
*Researchbytes Analyst App * https://play.google.com/store/apps/details?id=com.intelegain.rb Arihant Capital: Mileen Vasudeo, Sr Research Analyst Views On Market And Stock Picks By Mileen Vasudeo Of Arihant Capital Markets Maruti Suzuki: Shashank Srivastava, Chief General Manager – Marketing Shashank Srivastava Of Maruti Suzuki On Auto Sales, Inventory And 2024 Outlook Royal OrchHotel: CK Baljee, CMD Royal Orchid: Growth Drivers […]
Target: ₹150 CMP: ₹128.80 Zomato has raised its platform fee for food delivery services by 33 per cent, hiking it from ₹3 to ₹4 per order in key markets effective January 1, 2024. It started levying a convenience fee of ₹2 per order in August 2023, which subsequently rose to ₹3 per order by end […]
New Delhi-headquartered Esconet Technologies has filed draft paper for listing at NSE Emerge. The IPO comprises a fresh issue of 33.60 lakh shares. The company manufactures high-performance supercomputers, data servers and workstations, besides offering a wide range of IT solutions for SMEs, large organisations and public sector clients, such as data storage and networks, security, […]
Equity benchmark indices Sensex and Nifty kicked off 2024 on a flat note, with the 30-share index closing with marginal gains following some buying in energy, services and telecom counters. In a highly volatile trade, the Sensex gauge eked out a modest gain of 31.68 points or 0.04 per cent to settle at 72,271.94 after […]
As infrastructure and its many sub-segments took off sharply over the past couple of years and continue to thrive with heavy government investments and initiatives, many companies have benefitted from smart execution of such projects. In this regard, NCC is a company that has been a key beneficiary of the focus on improvement in infrastructure […]
Long-term investors can buy the shares are Jubilant Pharmova (₹545.75) at current levels. The stock made a low of ₹268.60 in March and has risen well from there. It indicates that the downtrend has reversed. This rise from the above mentioned low has happened from a strong long-term trendline support. This also strengthens the case […]
Retail investors have played a major role in the mutual fund industry’s record breaking spree both in terms of attracting investment and mopping highest ever asset. The retail asset under management (equity, hybrid and solution oriented schemes) has jumped whopping 33 per cent in last 11 months of this year to ₹27.01 lakh crore against […]
Target: ₹3,700 CMP: ₹3,133.70 The company reported a robust growth outlook across all segments, resulting in strong earnings visibility from FY23 to FY26. The revenue contribution from the Railway and Mobility (R&M) division, which yields higher operating margins, is increasing. This is expected to improve the company’s operating profits moving forward. In FY23, its R&M […]
The Friday morning market opened with a decline, following the positive start earlier in the week. NSE Nifty was down by 0.21 per cent, or 46.55 points, at 21,732, while the BSE Sensex was at 72,229.87, down by 0.24 per cent or 178 points. A total of 3,089 stocks were actively traded, with 1,852 advancing, […]
Shares of RBZ Jewellers closed 5 per cent higher on listing day after opening on a dull note. The stock closed at ₹105 against the IPO price of ₹100 on the NSE, after moving between ₹96 and ₹105. On the BSE, it closed at ₹104.99. The ₹100-crore initial public offering from RBZ Jewellers came out […]
Aarti Industries Ltd has inked a nine-year, long-term supply contract with a leading global agrochemical products and solutions company for the supply of a niche agrochemical intermediate crucial for a widely used herbicide in food and cash crops such as corn, soyabean, cotton, sugarcane, and sunflower. The agrochemical intermediate contributes to the efficiency of herbicide […]
Maithan Alloys, manufacturers and exporters of niche value-added manganese alloys, said on Tuesday that it plans to acquire 10 lakh shares (0.202 per cent) of the National Stock Exchange. In a disclosure to the stock exchanges, the company said it entered into an agreement for the purchase of 10 lakh shares for ₹324 crore, making […]
Shares of the Muthoot Pappachan Group company Muthoot Microfinance will be listed at the bourses today. The issue price of the ₹960-crore IPO has been fixed at ₹291, at the upper end of the ₹277-291 price band. The issue was subscribed 11.52 times. The offer comprised a fresh issue of ₹760 crore (2.61 crore shares) […]
Benchmark equity indices began the trade on an optimistic note on Friday tracking firm global market trends. The 30-share BSE Sensex climbed 180.55 points to 71,045.65 in early trade. The Nifty went up by 58 points to 21,313.05. However, both the benchmark indices faced volatile trends after early optimism but later bounced back to trade […]
Nifty could hit the 24200 level in 2024, driven by heavyweight stocks from the BFSI, auto, cement and healthcare sectors, ICICIdirect has said in its latest Quant Yearly Outlook report. The Nifty was up by 119.10 pts or 0.56 per cent at 21,379.10 as of 11:30 am on Friday. The Nifty 50 pack was at […]
AXISCADES Technologies stock surged 10 per cent to hit a 52-week high on the NSE, it traded at ₹675 as of 1:40 pm on Friday. The Bengaluru-based engineering solutions provider had recently acquired EPCOGEN Pvt Ltd for ₹26.25 crore, with an additional three-year earnout of ₹7 crore based on performance. With this alliance, Axiscades has set […]
Target: ₹320 CMP: ₹250.15 In our view, PCBL’s stock price is not factoring in the value of its recently acquired Aquapharm business. Besides, PCBL’s recent JV with Kinaltek takes it further away from its traditional carbon black business. Aquapharm’s biodegradable chelating agents (such as GLDA, HEIDA, and PESA) are rapidly replacing traditional agents (such as […]
Target: ₹4,600 CMP: ₹3,961 Siemens, in its analyst meet, highlighted growth opportunities across segments, plans to demerge its energy division, and plans to increase localization across segments. The company is optimistic about growth prospects in the domestic market across government and private capex. It is also positive about opportunities emerging from new areas such as […]
The ₹740-crore from Hyderabad-based Azad Engineering will close today for subscription. The issue has so far subscribed over 11 times. The company has fixed the price band as ₹499-524 and investors can bid for a minimum of 28 shares. The IPO received bids for 3.35 crore shares, against 11.24 crore shares on offer. Several sports […]
Primary markets continue to witness strong response from investors, as all three IPOs that ended today subscribed heavily. Among them, Happy Engineering was the star attraction, as the issue was subscribed 82.04 times, followed by Credo Brands Marketing (51.85 times) and RBZ Jewellers (16.86 times). Happy Forgings, which came out with a price band of […]
Zee Entertainment Enterprises Ltd on Wednesday said Culver Max Entertainment, formerly known as Sony Pictures Networks India, has agreed to discuss extending the date required to make their merger scheme effective, a day ahead of the deadline. The Securities Appellate Tribunal (SAT) on Wednesday quashed two separate orders by the Securities and Exchange Board of India (SEBI) […]
The BSE Sensex is up by 214.84 points or 0.30 per cent at 71,652.03, and the Nifty is up by 75.90 points or 0.35 per cent at 21,529.00 as of 12:09 pm on Wednesday. Commenting on the outlook for Nifty, Anand James, chief market strategist at Geojit Financial Services, said, “The turnaround from the 21,360-320 […]
Public sector banks have continued their good run on the bourses this year with the Nifty PSU Bank index gaining 33 per cent in the year to date. For two- and three-year periods, the index is up 123 per cent and 226 per cent, respectively. “The difference in financials and asset quality between public and […]
The benchmark indices continue to trade flat on Tuesday, BSE Sensex is up by 102.25 points or 0.14 per cent at 71,417.34 as of 12:13 pm, while the Nifty 50 is up by 16.90 pts or 0.08 per cent at 21,435.55. On the BSE, 3,764 stocks were traded as of 12:16 pm on Tuesday, of […]
Target: ₹190 CMP: ₹179.55 We met up with the Star Cement management. The company is well-poised to achieve a robust 19 per cent volume CAGR during FY23-26E, driven by its upcoming expansions in the northeast (NE) region. Additionally, its cost curve is likely to continue to trend down due to a cool-off in fuel prices, […]