HDFC Bank witnessed a short covering in the August series while a significant short build up was seen in SBI as the Bank Nifty gained 0.5%, settling at 50,889 mark while the PSU Bank index was down by 2.6%. The Nifty 50 index gained 3.1%, settling at 25,152 witnessing a 77% rollover for the next … Read more
The two-wheeler (2W) industry is anticipated to grow in high single digits, with an estimated 8 per cent year-on-year (YoY) increase whereas the tractor industry is anticipated to see marginal growth of approximately 4 per cent YoY in the domestic market, according to a report by Nuvama, a wealth and investment firm. The growth of … Read more
The April-June quarter started on a soft note for Nifty with a sub 5% growth in profit after tax (PAT). This has led to a 2% earnings downgrade from Nuvama versus its earlier estimates of 15%. Cyclicals such as autos, industrials and metals faced earnings cuts while the same stabilised for IT and FMCG packs. … Read more
Jun 15, 2024, 01:51:43 PM IST Eleven pure equity mutual funds added a total of 31 new stocks in May across market capitalisations. They also increased their holding in 33 stocks during the month, according to a Nuvama note. Together they have bought shares worth Rs 47,700 crore, the note said. A look into which … Read more
Brokerages increased target prices up to Rs 180 for the auto components maker Samvardhana Motherson International as the company posted a two-fold jump in its net profit to Rs 1,444 crore for Q4FY24. The company’s total revenue from operations also rose to Rs 27,058 crore for the period under review as compared to Rs 22,517 … Read more
Brokerage firm Investec maintained a buy rating on Hindalco, Nuvama initiated coverage on Inox Wind and Suzlon Energy with a buy rating respectively. Goldman Sachs has a neutral rating on LIC post-Q4 results.We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Investec on Hindalco Industries: Buy| Target Rs … Read more
Shares of Divi’s Laboratories zoomed 5% on BSE in Monday’s trade to hit its fresh 52-week high of Rs 4,335 as brokerages like Motilal Oswal and InCred are bullish on the stock after the company posted a 68% year-on-year (YoY) increase in its Q4 profits at Rs 538 crore. The consolidated revenue in the reported … Read more
Shares of InterGlobe Aviation, which operates IndiGo Airlines, rose nearly 3% in Friday’s trade on BSE to its new 52-week high of Rs 4,520 after the company’s PAT more than doubled to Rs 1,895 crore in Q4. Revenue from operations increased 26% year-on-year (YoY) to Rs 17,825 crore in the reporting quarter while the airline’s … Read more
Shares of Sun Pharmaceutical Industries fell 5% in Thursday’s trade on BSE to the day’s low of Rs 1,467 even after the company posted a 34% year-on-year (YoY) jump in its Q4 profit to Rs 2,654.6 crore while the revenue rose 10.1% YoY to Rs. 11813 crore in Q4FY24. The board of the company also … Read more
Shares of Zee Entertainment Enterprises rose nearly 3% to Rs 144.4 in Tuesday’s trade on BSE after the firm reported a profit of Rs 13 crore in the March quarter of FY24, after reporting a loss of Rs 196 crore in the year-ago period. Moreover, the company’s shares closed over 4% higher in a special … Read more
