Markets
Industry body writes to Sebi on speculation in soya prices
Moreover, at this price, crushers find disparity of Rs 4,000-5,000 per tonne of processing, he said. In the process, the availability of soyabean meal has reduced dramatically, he explained. The Solvent Extractors Association of India (SEA) has raise a red flag over the speculation in soyabean prices to the...
Tata Consultancy Services Rating: Buy- A strong performance in the last quarter
TCS’ margins expanded 20bps q-o-q to 26.8% – its highest in 22 quarters despite a sharp 20% q-o-q rise in subcontracting costs and employee additions of 19,388 (highest ever) during Q4. TCS’ Q4FY21 results were slightly ahead of estimates with revenues up 4.2% q-o-q, margins up 20bps q-o-q and...
Maharashtra APMCs to continue functioning
For instance, to control the crowd, the Mumbai APMC located in Vashi, has increased its business hours. Agriculture Produce Market Committees (APMCs) in Maharashtra have been directed by the Maharashtra Marketing Directorate to continue functioning in the current lockdown period to ensure smooth supply of vegetables, fruits and food...
Traders call off raisin auctions in Maharashtra
Kumbhar pointed out that buyers, mostly traders, come from across the country to buy the raisins here and can also spread the virus. Although the state government has directed market committees in Maharashtra to remain open during the lockdown, Sangli-Tasgaon District Raisin Association (SDRA) has called off raisin auctions...
Analyst Corner: Wipro: Maintain ‘buy’ with unchanged TP of Rs 550
Operating margin at 21% again outperformed expectations despite the company handing out wage hikes to 80% of its employees in January 2021. By Edelweiss Securities Wipro delivered another quarter of strong results. IT services revenue grew 3% QoQ (in cc), in line with both our (3.1%) and Street’s (3%)...
Analyst Corner: Upgrade Astral to ‘buy’ with revised TP of Rs 1,663
Considering the robust growth outlook amid the ongoing second Covid wave, we increase our revenue and PAT estimates by 4.4%/8.3%/8.1% and 6.7%/7.2%/7.9% for FY21E/FY22E/FY23E, respectively. We upgrade ASTRA to BUY with the stock correcting ~27% in the last one month. Besides expecting the company to continue with its strong...
BFSI: Momentum revival to reflect in Q4
Q4 is seasonally strong both on sourcing as well as collections. Business updates released for financiers in Q4FY21 suggest revived business growth momentum, both on credit (3-6% q-o-q growth) as well as deposit front (5-10%). However, key to watch out for in Q4FY21 earnings would be: (i) Actual stress...
Insurepays hopes to raise $5-7 million in Series A funding
So far, members, who have been coming on board since November 2020, have paid Rs 140 crore worth of premiums and have redeemed almost Rs 6.3 crore worth through discounts at various vendors. Insurepays, which rewards consumers by facilitating discounts at vendors against premiums paid for insurance policies, is...
Equity Strategy: Covid wave likely to affect the recovery
OWT IT Svcs, UWT Fin. Other top picks – RIL, Tata Steel, Concor, PGRD, GPL, Colgate, Dr Reddy’s & Maruti. Jefferies recovery tracker (JRT) averaged 102% in Mar’21, -1ppt MoM, partly as urban activity tapered down somewhat on rising COVID cases. Localised lockdowns are getting more stringent, and we...
Infosys to consider share buyback on April 14
Infosys completed its first buyback of Rs 13,000 crore in December 2017, comprising 11.3 crore equity shares at a price of Rs 1,150 per share. Software services giant Infosys said on Sunday it would consider a proposal to buy back of its shares at its forthcoming board meeting scheduled...
