Credit rating agency CARE Ratings upgraded Yes Bank’s long-term debt instruments citing improved operating metrics, including the recent restructuring of the banks shareholding. The rating agency has revised the ratings on Yes Bank’s infrastructure bonds and Tier II bonds to ‘CARE A; Positive’ from ‘CARE A-; Positive’. CARE said the revision factors in continued growth […]
Indian automakers are stocking up inventory big time in the hope of a revival of demand during the upcoming festival season, and any failure in demand pick-up will leave them saddled with excess production for the rest of the calendar year, going by channel checks. The festival months of October and November are the biggest […]
The trends seen in the last two months in auto sales continued in September, with urban and premium models and segments doing well, while commuter and rural oriented segments continued to underwhelm. The high base of Tata Motors’ passenger vehicle division started catching up with the company, even as Maruti hit one of its all-time […]
China’s reopening and the Indian government’s removal of export duties on steel, iron ore and pellets is set to benefit domestic iron ore producers like NMDC, allowing them to align domestic prices with global market trends and increase exports. China’s revival from COVID-led lockdowns will boost demand for imported iron ore in 2023. This bodes […]
An analysis of the fund flows this year so far shows that a whopping 42% of FII’s total inflows into India’s public market in 2023 have been into into passive funds
The Indian stock markets have shown remarkable resilience in recent weeks even as global equities have faced intense selling pressure. The benchmark Nifty 50 index has fallen only marginally despite the US markets witnessing one of their sharpest corrections in years. The Dow Jones Industrial Average (DJIA) has plummeted by nearly 1,500 points or around […]
A bidding war is reportedly heating up for Biogen’s biosimilars portfolio, with three major pharmaceutical companies reportedly offering around $1 billion for the business unit – Samsung Bioepis, India’s Dr. Reddy’s Laboratories, and Intas Pharmaceuticals. Of the three, Samsung and Intas may be placed to gain the maximum from the acquisition. Biogen’s biosimilars division focuses […]
Escorts Kubota Limited (EKL), one of India’s leading tractor manufacturers, is poised for strong growth in the coming years, according to a new research report by Sharekhan. EKL, formed after the merger of Escorts Limited and Kubota Corporation of Japan, will benefit significantly from synergies and integration of the two entities, said Sharekhan in its […]
Mumbai-based online travel company Yatra Online Ltd has launched its initial public offering (IPO) to raise Rs 775 crore. The IPO, which opened on September 15, will close on September 20. The price band for the IPO is Rs 135-142 per share. Yatra was founded in 2006 by Dhruv Shringi, Manish Amin, and Sabina Chopra […]
Equity mutual funds witnessed strong net inflows of Rs 279.2 billion in August 2023, a significant improvement compared to July’s Rs 100 billion net inflow. This was driven by continued robust flows into small cap, mid cap and multi cap schemes. Meanwhile, systematic investment plan (SIP) contributions hit another record high of Rs 158.1 billion […]
Maruti Suzuki has enjoyed an enviable position in the Indian automobile market for decades. The company has dominated car sales in India since the 1980s, capturing over 40% market share consistently. However, recent developments have raised concerns that Maruti Suzuki may be headed down the same path as Nokia and Kodak – complacent incumbents who […]
Leading brokerage HDFC Securities has come out with a positive outlook on real estate developer Sobha Ltd, stating that headwinds are largely priced in and risk-reward is now favorable for further rerating. The brokerage believes the stock’s underperformance versus real estate sector makes valuations compelling for investors to make a fresh entry. In an in-depth […]
Leading Indian brokerage firm Kotak Institutional Equities has sounded the alarm on the recent rally in mid- and small-cap stocks, warning clients that the sharp increase reflects “irrational exuberance” among investors rather than fundamentals. As a result, Kotak has dropped its recommended mid-cap portfolio, saying it could not justify recommending stocks trading significantly above fair […]
Homegrown electronics manufacturing services company Dixon Technologies is betting big on domestic IT hardware production under the government’s production-linked incentive (PLI) scheme. With approvals in place, Dixon is poised to manufacture laptops, tablets, all-in-one PCs and servers in India. Dixon started operations in 1993, commencing with the assembly of colour televisions. Over the years, the […]
HDFC Securities has upgraded its rating on Mahanagar Gas Ltd (MGL) to Buy from Add, citing an attractive valuation for the city gas distribution company in light of recent correction in its price. HDFC Sec has set a target price of Rs 1,210 per share on MGL, about 18% higher than the current market price […]
Brokerage Motilal Oswal Securities Ltd said expects Nifty earnings to grow by over 20% in in the current financial year, suggesting the possibility of a similar appreciation in their stocks. It based in optimism on healthy corporate earnings in the first quarter and upbeat management commentary. MOSL pointed out that corporate earnings for the June […]
Opportunities for making money in the current equity markets in India are ‘limited’ given expensive valuations across sectors and potential risks of earnings-downgrades, Kotak Securities’ Private Client Group warned in its monthly update. “The future for the markets may not all be all rosy with headwinds arising also from international shores with the U.S. Fed […]
India imposed import tariffs on PCs, laptops and servers recently to spur local manufacturing and lower security threats from China, but getting the policy to work is easier said than done
Even as worries of high valuation and rising interest rates in the US give pause to some investors, Axis Securities has reiterated its positive outlook on Indian equity markets in its latest report for September 2023. The broking arm of Axis Bank highlights that the structural trend for the market remains positive, however, it expects […]
Equity research firm Systematix Institutional Equities has initiated coverage on pharmaceutical major Pfizer Ltd with a “Buy” rating and set a target price of Rs 4,954, indicating an upside potential of around 30% from current levels. The broking house said the recent slowdown in Pfizer Inc’s Indian subsidiary was due to temporary factors and its […]
