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[hfe_template id='11223'] [ad_1] Synopsis Just before the start of the final phase of the general elections 2024 was to take place, there was a clear indication that it is bulls who are in control of the market. There are no two opinions, that a continuity in policy making will make the markets move upward very sharply. A glimpse of that will come in Monday’s trading session, when the impact of the exit poll result gets played out. So, with the base case assumption that the policy making will continue, we take things forward but continue with our principle stand that If one is taking fresh exposure to equity, ensure that there is some level of quality as far as the business and fundamentals are concerned.These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market...

[hfe_template id='11223'] [ad_1] The age-old stock market cliche of 'sell in May and go away' has proven true this year, thanks to general election related uncertainties. The bleak mood was reflected in the volatility index, which shot up as much as 87% during the last one month. The concerns over ruling Bharatiya Janata Party (BJP) not winning a thumping majority of over 400 seats weighed on investors' sentiments including the foreign investors, who dumped equities worth over Rs 43,000 crore in the month. DIIs, on the other hand, were unwavered and pumped in around Rs 53,000 crore into equities during the same period. Benchmark Sensex shed 0.8% during May and the broader Nifty lost over 0.5%. The broader market, on the other hand, has seen mixed trends with smallcaps witnessing sharper cuts, while investors kept buying midcap stocks. The BSE Smallcap index was down about 0.86% in the reporting month, but in contrast, the Midcap index gained 1.7%. In the BSE5...

[hfe_template id='11223'] [ad_1] May 31, 2024, 11:38:42 AM IST The new Nifty EV & New Age Automotive index, launched by the NSE, aims to track the performance of companies active in the electric vehicles (EV) and new-age automotive segments. This includes manufacturers of electric and hybrid vehicles, hydrogen fuel-based vehicles, green hybrid vehicles, electric batteries, and components. Additionally, it encompasses companies producing or supplying raw materials relevant to EV and autonomous vehicle technologies, as well as, those building autonomous vehicles and supplying related technologies. Here are the top 10 stocks in the new EV index based on weightage: Agencies Bajaj Auto has a weightage of 7.08% in the Nifty EV & New Age Automotive index. ETMarkets.com Tata Motors has a weightage of 6.49% in the index. Agencies 4 / 11 Ma​hindra & Mahindra Mahindra & Mahindra has a weightage of 5.83% in the index. Agencies Maruti Suzuki has a weightage of 5.28% i...

[hfe_template id='11223'] [ad_1] Shares of M&M climbed 3% to Rs 2,568 during Friday's intraday session on BSE after the global brokerage firm BofA upgraded its rating on the stock from Neutral to Buy. BofA also raised the stock's target price to Rs 3,050 from Rs 2,480, indicating an upside potential of 22% from the previous day's closing price of Rs 2,494.7 apiece. BofA Securities believes that M&M has multiple growth catalysts that will play out in the next 12-18 months. The company's core business remains steady with market share gains in the SUV segment and a potential turnaround in the tractor business, BofA stated in a note. Also Read: Modi magic! PSU stocks create Rs 7 lakh crore wealth this election season M&M's subsidiaries are expected to contribute more significantly to the company going forward. BofA highlighted the new leadership, bold growth plans, and focus on sustainability within the subsidiaries as key positives. At 11:32 ...

[hfe_template id='11223'] [ad_1] As a forward-looking animal, the stock market has already discounted the probability of Narendra Modi's return as Prime Minister when election results are declared on June 4. Of special interest this election season are Modi stocks which have gained an average of 50% in the last six months. This may be the basket that continues to rally the most if the market celebrates a strong election result for the ruling party on 4 June, say CLSA analysts. What are Modi stocks? Given the sheer impact that the government's policies have had on several sectors, investors have begun to categorise stocks that are direct policy plays into a new basket called Modi stocks.These stocks are seen as being the direct beneficiaries of popularly expected policy measures from Modi 3.0. Many of these stocks are rallying more on perception. Modi stocks are related to capex and infrastructure-linked sectors, PSUs, or stocks of some corporate houses. Also read...

[hfe_template id='11223'] [ad_1] Shares of Mukul Agrawal-owned multibagger smallcap defence stock PTC Industries rallied 11% to the day's high of Rs 8,650 after domestic brokerage firm Antique Broking initiated coverage on the company with a ‘buy’ rating and target price of Rs 13,010. “PTC Industries (PTC) is emerging as India's leading manufacturer of titanium and other super alloys-materials and castings, catering to the entire spectrum of aerospace and defence sectors,” said a report by Antique. PTC's closely guarded manufacturing technologies and agreements, providing long-term order book visibility set the base for the company's growth potential. The company's castings segment remains highly value additive while Titanium being the heart of aerospace manufacturing amid the increased geopolitical tensions only further pushes the case. “We believe that the company will be able to grow its revenue 11x by FY28E and net profit by over 26x to INR 10.8 b...

[hfe_template id='11223'] [ad_1] Federal Reserve policymakers continue to expect inflation to fall this year even as the labor market stays strong, leaving them in no hurry to cut the policy rate from the 5.25%-5.5% range they have kept it in since last July. Dallas Fed President Lorie Logan said on Thursday she is still worried about upside risks to inflation and warned the U.S. central bank needs to stay "flexible" and keep "all options on the table" as it watches the data and determines how to respond. "It's really important that we don't lock into any particular path for monetary policy," Logan said at an event in El Paso, Texas. "I think it's too soon to really be thinking about rate cuts." While inflation has been running closer to 3% than 2% so far this year, Logan said, "I think there's good reasons to think that we're headed to 2% - we're still on that path, perhaps a bit slower and a little b...

[hfe_template id='11223'] [ad_1] The cost of hedging Indian stocks has surged by the most since the onset of the Covid-19 pandemic ahead of the general election’s outcome next week. The NSE India Volatility Index has risen 88% in May, the most since March 2020. In an unusual occurrence, the gauge of options prices kept creeping up even as stocks reached record highs last week. The NSE Nifty 50 Index has since slipped and the so-called India VIX ended at 24.17% on Thursday, near a two-year high. Bloomberg The jump in swings is predictable as investors await the June 4 results. While Prime Minister Narendra Modi is expected to win a third term in office, low voter turnout and reports of close contests in some states have tempered enthusiasm for elections that began on April 19. Read: India’s Equity Rally Hinges on Modi Bettering 303-Seat Tally“As we edge closer to the result, participants do not want to take any risk and are hedging for the ‘just in case’ outcome,” said C...

[hfe_template id='11223'] [ad_1] After five consecutive sessions of decline, Indian benchmark equity indices opened higher on Friday, led by index heavyweight financial stocks. The BSE Sensex was trading 508 points, higher at 74,394. The Nifty50 was up 163 points, trading at 22,632 around 9:20 am. India's elections, which began on April 19, will conclude on June 1 and votes will be counted on June 4. Investors are awaiting the exit polls, which project results after voting ends. Also in focus will be India's fourth-domestic quarter GDP data due later in the day, where the economy is expected to have grown at a slower pace than the previous three months. From the Sensex pack, M&M, L&T, Bajaj Finserv, Bajaj Finance, Sun Pharma, and IndusInd Bank opened higher, while Maruti Suzuki and Infosys opened with losses.Apollo Hospitals Enterprise shares rose over 3% in early trade after the company reported a 77% growth in its consolidated net profit, reaching Rs 25...

[hfe_template id='11223'] [ad_1] Rekha Jhunjhunwala, wife of late ace investor, Rakesh Jhunjhunwala likely earned a dividend income of Rs 224 crore for the quarter ended March 2024 from her portfolio estimated to be worth Rs 37,831 crore. Going by March quarter shareholding pattern, Jhunjhunwala earned a dividend income of Rs 52.23 crore from Titan Company, Rs 42.37 crore from Canara Bank, Rs 27.50 crore from Valor Estate, Rs 17.24 crore from NCC and Rs 12.84 crore from Tata Motors among others. Other companies where Jhunjhunwala holds a stake are CRISIL, Escorts Kubota, Fortis Healthcare, Geojit Financial Services, The Federal Bank among others which have fetched nearly Rs 72.49 crore worth of dividend income for the fourth quarter of FY24, according to Ace Equity data. The dividend income has been calculated as per the shareholding pattern available with the exchanges as of March 2024. Also read: Suzlon Energy shares give multibagger returns of 340% in 1 year. Time to ...

[hfe_template id='11223'] [ad_1] Shares of Lemon Tree Hotels surged 6.4% to a day's high of Rs 147.4 in Thursday's trading on BSE after the company reported a profit after tax (PAT) of Rs 83.9 crore in the March quarter of FY24, marking a 42% year-on-year (YoY) increase from Rs 59 crore during the same period a year ago. Its earnings before interest, tax, depreciation, and amortization (EBITDA) also rose by 24% YoY to Rs 260 crore in Q4FY24. However, its EBITDA margin contracted sharply by 360 basis points (bps) to 79.5% in the March-ended quarter. The company reported a total income of Rs 331 crore in the fourth quarter, compared to Rs 254.73 crore in the corresponding period of FY23. The gross average room rate stood at Rs 6,605 in FY24, up from Rs 6,333 in Q3FY24. Occupancies, too, rose by 605 bps YoY to 72% in Q4FY24 from 66% in the year-ago period. Also Read: ETMarkets AIF Talk: This Rs 300-cr fund manager unveils M.E.R.I.T strategy to pick investments for p...

[hfe_template id='11223'] [ad_1] Shares of R R Kabel surged nearly 6% on BSE to the day’s high of Rs 1,820.80 after the company reported a profit after tax of Rs 78.7 crore, up by 20.6% year-on-year (YoY). The company's revenue also rose 15.7% YoY to Rs 1,754 crore for the fourth quarter of FY 24, while EBITDA margin decreased by about 10 bps YoY to 6.6%. The company stated that its segment profit also increased by 43% in FY24 compared to FY23 due to cost reductions and operational efficiencies. Here is what brokerages say: Motilal Oswal R R Kabel has demonstrated its ability to grow at a higher rate than peers, with its cables & wires segment recording a CAGR of 21%/24% in revenue/EBIT over FY19-24. Management also remains optimistic for cables & wires demand growth in the country and indicated that its volume growth would be 20% in FY25. Motilal reiterated its 'buy' rating on the stock with a target price of Rs 2,200. Citi Group The global brokerage...

[hfe_template id='11223'] [ad_1] Shares of CG Power climbed over 4% to Rs 660 during Thursday's intraday trading on BSE after the global brokerage firm UBS maintained its buy rating and raised the stock's target price to Rs 850 from Rs 580. This adjustment suggests an upside potential of 34% from the previous day's closing price of Rs 631.8 apiece. The brokerage firm suggests that the company is a prudent capital allocator and timely fund allocation will drive the bottomline in the coming quarters. Furthermore, medium-term demand drivers are in place on the back of robust capital allocation. "The company possesses best-in-class profitability and significant option value," UBS said in a note. UBS also highlighted a lack of consensus on the potential for faster revenue ramp-up and better margins. They emphasised key value drivers over the next 12-24 months and urged a closer examination of critical variables. Also Read: Looking for stocks to buy befor...

[hfe_template id='11223'] [ad_1] Ajanta Pharma has fixed May 30 as the record date for its Rs 285 crore share buyback meaning that the last date to buy the shares in order to qualify for buyback is today. The buyback will take place at a premium of 12.6% from the closing price of Tuesday at Rs 2,420 through a tender route. The buyback is 8.34% of the aggregate of equity share capital of the company. Earlier in the month, Ajanta Pharma had announced its intention to buyback its shares from the public. The offer was proposed for a buyback of up to 10,28,881 equity shares of the company at the price of Rs 2,770, aggregating to an amount up to Rs 285 crore. As of 31st March 2024, 66.2% of the equity was held by the promoter and promoter group entities, while the rest 33.8% is distributed among public, banks, mutual funds, NBFCs etc. Also read: Concord Biotech stock slips over 5% after Rs 519 crore worth of shares change hands In its Q4 results, Ajanta Pharma had reported a 6...

[hfe_template id='11223'] [ad_1] Synopsis Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members. Below is a list containing mean price targets for banking stocks collated with data from the latest Stock Reports Plus report dated May 29, 2024. The list also contains a count of analysts evaluating each banking stock for the next 12 months. For the purpose of this report, we have filtered out stocks wherein the count of analysts is up to 41 and upside potential is up to 29%. The list has been sorted based on potential upside estimated by these ETMarkets.com May 29, 2024, 12:53:00 PM IST Gift A Story Share member-only stories with your friends or family and help them read it for free. Gifting Limit Reache...