A day after it was reported that US-based GQG Partners is in talks to buy a stake in Vedanta, a big block deal in which more than 2% equity changed hands worth over Rs 2,600 crore was reported in the counter on Thursday. The final talks for a potential stake sale worth over $1 billion … Read more
Sanjiv Puri, CMD, ITC, says the Indian economy and even rural India has been very resilient. The infrastructure that has been created, the connectivity, focus on housing and digitisation, the direct benefit transfer and stuff like free food grain distribution are some of the very important steps taken in terms of the investment in the … Read more
Brokerage firm Jefferies downgraded ITC to hold and upgraded Lupin post Q3 results. Macquarie maintained an underperform rating on Zomato and an overweight rating on Page Industries. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Jefferies on ITC: Hold| Target Rs 420Jefferies downgraded ITC to hold from … Read more
“While these companies have performed exceedingly well this current financial year, the next financial year probably will not be as good,” says Sudip Bandyopadhyay, Group Chairman, Inditrade Capital We just marked the Budget week and what are the standout sectors that are coming for you because while we were chatting with all the market experts, … Read more
Brokerage firm Jefferies maintained a buy rating on ITC, JPMorgan remained overweight on RIL, Macquarie has a neutral rating on Voltas and Citigroup maintained a buy on L&T post Q3 results. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Jefferies on ITC: Buy| Target Rs 520 Jefferies … Read more
Notwithstanding a higher-than-estimated profit after tax (PAT) in the December quarter, ITC shares fell 1.5% to the day’s low of Rs 443.10 on the NSE on an operationally weak quarter led by sluggishness in the cigarette, agri and paperboard businesses. Following the earnings announcement, Nuvama slashed its price target while retaining a buy. Another brokerage … Read more
Brokerage firm Citigroup maintained a neutral rating on RIL, Jefferies retained a buy rating on Marico, Macquarie has a neutral rating on Bajaj Finance while Investec recommended a buy on Gail India and ITC post Q3 results. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Citigroup on … Read more
The upward trend of Nifty is expected to persist in the near term, but the index may encounter resistance around 21,800-21,850 levels. Technical analysts suggest that a definitive move above 21,850-21,900 is necessary to unlock the next upside target of 22,200. Analysts recommend stocks like Axis Bank, Canara Bank, Divi’s Labs, Cipla, Coforge, Infosys, ITC, … Read more
The week gone by saw Nifty50 ending with a minor decline of over 0.1% on a weak-on-weak basis. However, it was not without action as over three dozen companies from large, mid and smallcap segments witnessed prominent block deals worth Rs 8,862 crore which included both buying and selling action. In the largecap segment, 15 … Read more
With a nearly 20% rally in 2023, Nifty is overvalued by as much, according to a report by Kotak Institutional Equities. The brokerage remains wary of an absolute return potential of the market from the current levels as it replaces ITC and Larsen & Toubro (L&T) with Britannia and PSU stock NTPC from its concentrated … Read more
