Motilal Oswal Financial Services has come out with a list of five stocks that can help investors ride the wave of growth as India emerges as a derisking option to China in the manufacturing supply chains of American, Japanese and Korean companies. These companies have been forced to look for an alternative to China after […]
Nuvama Research has doubled its dividend estimate for National Mineral Development Corporation (NMDC) to Rs 15 per share for FY2024 citing the company’s strong free cash flow generation and robust balance sheet. In its latest research report, Nuvama estimates NMDC to generate free cash flow of INR 85 billion in FY2024 and INR 50 billion […]
The mutual fund industry maintained its growth momentum in September 2023 despite some moderation in inflows into equity funds. Total assets under management (AUM) of the industry stood at Rs.46.6 trillion at the end of September, largely unchanged from August 2023 levels. Equity and equity-oriented funds, which make up the largest component of mutual fund […]
Hong Kong-based brokerage CLSA has raised its recommendation on Indian equities to a 20% overweight, up from a 40% underweight previously. This makes India the most preferred market within CLSA’s Asia ex-Japan portfolio. The upgrade was funded by lowering exposure to China and Australia. With this, CLSA’s portfolio now deviates considerably from MSCI’s Asia ex-Japan […]
Zomato’s stock has seen a sharp run-up of over 120% from its 52-week lows in February 2023, leading to worries of overheating and over-valuation. However, analysts remain bullish on the long-term prospects of the food delivery platform. In a recent report, ICICI Securities said Zomato remains their top pick in the Indian internet space. They […]
This is the first of a multi-part series on cryptocurrency, examining the dream and promise behind cryptocurrency, the evolution of the technology, the challenges faced by it on the way, and finally, its future. You can read the second part here. Cryptocurrency: The Dream In 2008, in the midst of the global financial crisis, a […]
Mumbai-based brokerage HDFC Securities has reiterated a SELL rating on retail giant Trent Ltd with a target price of Rs 1,370 — 33% below the current price — even as it acknowledged the company’s strong growth in recent years. Trent has been one of the most exciting retail growth stories in India, growing at a […]
The Indian IT services sector is expected to report another muted quarter for July-September 2023, as macroeconomic uncertainties continue to weigh on technology spending by clients. Leading brokerage firms predict the sector will post modest sequential revenue growth amid soft demand environment, with growth in the range of only 0%-1% on the quarter. “We expect […]
Care Ratings has upgraded the credit rating of Federal Bank’s bonds from AA to AA+ on continued improvement in the bank’s overall business, diversification of loan portfolio, better profitability and stable asset quality. Federal Bank is one of the oldest private sector banks in India with over 80 years of operating history and is a […]
One of the hottest topics of debate in investment circles in recent years has been around the disruption caused by e-commerce to brick-and-mortar entities. Many experts have warned that the rising popularity of e-commerce giants like Amazon would inflict a heavy toll on brick-and-mortal retailers, leading to downgrades of organized retailers and mall operators — […]
Indian pharmaceutical company Panacea Biotec Ltd announced today that it has received notice of an arbitration proceeding initiated by Canadian firm Apotex Inc. The dispute relates to a 2014 collaboration agreement between the two companies for the development and supply of a pharmaceutical product aimed at the US market. Apotex has claimed damages of $118.14 […]
Sun Pharmaceutical Industries Limited, India’s largest pharmaceutical company, has announced equity investments in two healthcare startups – Ezerx Health Tech and Agatsa Software. The pharmaceuticals company said these companies possess innovative technologies in areas of pharma and healthcare. As per a regulatory filing, Sun Pharma has entered into an agreement to acquire 37.76% stake in […]
Mumbai-based jewellery company Renaissance Global Limited (RGL) posted a strong 23% year-on-year growth in its direct-to-consumer (D2C) business revenue to Rs 53.8 crore in the second quarter of fiscal 2024 (Q2 FY24), compared to Rs 43.9 crore in Q2 FY23. The Q2 FY24 results mark the fifth straight quarter of 20%+ D2C growth for RGL, […]
India’s largest construction company, Larsen & Toubro, said its buildings & factories unit won three big construction orders. The company did not disclose the time period over which these order were won, but it is likely to be over the last two months. Two of the orders were for constructing apartment complexes, while the remaining […]
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 […]
The growth in US generic sales of leading Indian pharmaceutical companies moderated in the three months ended August 2023. Total sales of generic drugs in the US declined 0.5% compared to the three months ended July and 1.9% compared to the three months ended May. Moreover, the annualized number of Abbreviated New Drug Applications (ANDA) […]
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 […]
