Markets
Nifty, Bank Nifty could be approaching a bottom; prefer BFSI and IT to participate in pullback
Nifty 50 could see a pullback soon. By Dharmesh Shah Equity benchmarks concluded the truncated last week on a subdued note amid elevated volatility owing to surging Covid-19 wave 2 across India. The Nifty ended the week at 14341, down 1.8%. The broader market relatively outperformed as Nifty midcap...
Nifty remains indecisive amid rising covid fear; watch these stocks for near term gains
Rajesh Palviya said that the chart pattern suggests that if Nifty crosses and sustains above 14,500 may cause pullback towards 14,600-14,700. By Rajesh Palviya Nifty opened (on Friday) with a downward gap and witnessed extreme volatility on either side however last hour selling pressure dragged the index lower to...
Gold, silver prices traded flat last week as economic data improved; rates may hold steady this week
Bullion prices traded mixed during the week keeping the firm trading range on weaker dollar and positive economic data. (Image: REUTERS) By Tapan Patel Commodity prices traded mixed during the week passed by with most of the commodities in Non-agro segment kept firm trading range except crude oil. Bullion...
Share Market LIVE: Sensex extends opening gains, Nifty soars above 14,500; ICICI Bank, Axis Bank top gainers
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Benchmark indices were trading with gains on Monday morning. Bank Nifty surged higher. via India Infoline
HCL Technologies, ICICI Bank, SBI Cards and Payment Services, ONGC among stocks in focus today
Stock market may open in green. (Image: REUTERS) SGX Nifty was trading in the positive territory surging nearly 100 points higher before the opinion bell on Dalal Street, hinting at a gap-up start for domestic markets. However, on the charts, the short term trend is expected to bumpy for...
Glenmark Pharma Rating ‘Hold’; subsidiary’s IPO could unlock value for company
However, many unknowns remain for the API business given the recent strong performance was driven by COVID-19-led higher demand and customer stocking to a large extent, in our view. Glenmark Life Sciences (GLS; Glenmark Pharma’s 100% subsidiary for API or active pharmaceuticals ingredients) filed a draft red herring prospectus...
Bajaj Consumer Care Rating ‘Hold’; Results show recovery is underway
Cost optimisation and a favourable base, however, drove Ebitda margin expansion of 1,125bps y-o-y. Bajaj Consumer Care (Bajaj) posted higher-than-expected revenue (up 40.3% y-o-y) and Ebitda (up 157.4% y-o-y) while PAT (up 119.8% y-o-y) came in line. ADHO grew 40% y-o-y each in value and volume terms with larger...
ICICI Bank shareholders to get Rs 2 per share dividend after stellar 260% jump in profits
ICICI Bank reported a stellar jump in net profit. Private sector lender ICICI Bank today announced a dividend of Rs 2 per equity share. The dividend is subject to shareholder approval. The announcement came along with the quarter results of ICICI Bank where the lender has reported a massive...
Wall Street investors await Tesla, Apple, Amazon earnings along with Biden’s tax proposal next week
The upcoming week would be crucial for investors with the Federal Reserve Meeting on Cards, crucial earnings, and Joe Biden set to address a joint session of Congress during the week. (Image: REUTERS) Wall Street saw a volatile trading week, marred by reports of Joe Biden eyeing a capital...
Rakesh Jhunjhunwala not immune to weak market sentiment; lost Rs 500 crore in three stocks this week
Another Tata group firm, Tata Motors was also seen pulling Rakesh Jhunjhunwala’s wealth lower this week. Even big bull Rakesh Jhunjhunwala was not immune to losses on Dalal Street this week as benchmark indices fell nearly 2% each. The billionaire investor lost Rs 506 crore in just three stocks,...
Sensex, Nifty continue range-bound movement; covid-19 likely to remain an overhang next week
At this juncture, technical analysts have been citing 14,200 as the key support for the Nifty index. (Image: REUTERS) The holiday-shortened week saw Sensex and Nifty continue their range-bound movement. Indices fell on three of the four trading sessions this week and closed 2% down on a weekly basis....
Analyst Corner: Upgrade Hero MotoCorp to ‘add’, Gogoro JV to launch EVs
Hero-branded vehicles would be powered by Gogoro swappable batteries. Hero MotoCorp (HMCL) and Taiwan’s Gogoro Inc. have announced a joint venture to collaborate on development of a battery-swapping network in India based on the latter’s tech platform. Hero-branded vehicles would be powered by Gogoro swappable batteries. Gogoro is a...
Reliance Capital defaults on payment to bondholders
Reliance Capital has been missing monthly interest payment of Rs 4.77 crore to HDFC and Rs 71 lakh to Axis Bank. Reliance Capital has failed to make interest payment for non-convertible debentures (NCDs) due on April 22, as per its disclosure to stock exchanges. Although the quantum of default...
Nestle India Rating ‘Hold’; Results were in line with expectations
The channel witnessed 66% growth y-o-y in Q1CY21 (after 110% growth in CY20) and now contributes 3.8% to domestic revenues. With 10% YoY growth, Nestle’s domestic revenues are in line with our expectations. Slightly better GMs & lower staff costs helped and Op Ebitda growth at 16% is ahead....
Motilal Oswal maintains ‘Buy’ rating on ICICI Securities with TP of Rs 650
Distribution revenue was up 22% YoY to Rs 1.41b (QoQ not strictly comparable due to seasonality). 4QFY21 was another robust quarter in an overall strong year for ISEC. PAT more than doubled YoY to INR3.3b (45% beat), driven by 54% growth in revenue, coupled with significantly lower C/I ratio....
Mindtree Rating ‘Buy’; Solid set of numbers in Q4FY21
Management remains confident of delivering double-digit growth along with Ebitda margin of 20% plus in FY22. Mindtree (MTCL) delivered a solid set of Q4FY21 numbers—revenue grew 5.2% q-o-q to $288.2 mn, in line with our estimate of $289.0 mn. Ebit margin came at 18.6% versus our 19.0% forecast. Net...
Commodity prices seeing sharp rally; buy these metal, oil & gas stocks to pocket gains
Analysts at JM Financial believe some metal stocks along with oil & gas sectors plays could be the beneficiaries of the upcycle. (Image: REUTERS) Prices of commodities have surged significantly since last year. Metal prices are up 40-50% and the agri-index is 30% above January 2020 levels, according to...
Analysts bullish on ICICI Securities share price post Q4 results; CLSA, others see over 50% rally
Changes in ICICI Securities product and sourcing strategy have yielded results over the past year. Image: Reuters Most of the analysts and brokerage firms are bullish on ICICI Securities stock post Q4 results. ICICI Securities’ consolidated profit jumped 111 per cent to Rs 329 crore on account of growth...
