Shares of Manappuram Finance rose 5.4% to a 52-week high of Rs 207.30 in Tuesday’s trade after subsidiary Asirvad Micro Finance got a nod from Sebi to raise funds through an IPO. Asirvad Micro Finance had filed IPO papers in October last year. The issue will be made through the book-building process, wherein more than … Read more
ET looks at some of the latest stock recommendations by analysts. These stocks are expected to return between 29% and 40% as per analysts’ price targets. One 97 Communications BROKERAGE: YES SECURITIES Price Target: Rs 505 CMP: Rs 389.4 Upside: 29.8% Upgrade stock to ‘buy’ for the fi rst time since its listing Market currently … Read more
Shares of FSN E-Commerce Ventures are expected to witness their next leg of performance riding on margin improvements which will be akin to Zomato, according to estimates by Nuvama. The domestic brokerage reiterated its buy rating on the Nykaa operator while marginally raising the price target to Rs 192 from Rs 189, as suggested earlier. … Read more
Equity indices bounced back from intraday lows to settle higher on Wednesday. The 30-share Sensex settled 271 points higher at 71,657 and the Nifty advanced 73 points to 21,618. Stocks that were in focus included names like HCL Tech, which rose 2.03%, Delta Corp, which jumped 2.9%, and Manappuram, whose shares declined 4.8% on Wednesday. … Read more
Neeraj Chadawar, Head of Quant Strategy, Axis Securities, says “we firmly believe that the Indian economy is rightly placed and continues with the growth momentum and we continue to believe in double-digit returns. Given the valuations are stretched at current juncture, we believe that bottom-up theme is the best place to identify the stock based … Read more
