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[hfe_template id='11223'] [ad_1] Benchmark BSE Sensex rose by nearly 286 points to close at a record high while Nifty settled above the 24,950 level on Wednesday. Stocks that were in focus include names like Godrej Properties, which gained 1.32%, Ambuja Cements, which rose 1.01%, and Indus Towers, whose shares declined 3.03% on Wednesday. Here's what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today. Godrej Properties Godrej Properties is currently exhibiting a positive chart pattern with high trading volumes, indicating strong investor interest. The stock is supported at 3200 and 3150 levels, providing a solid base for potential upward movement. On the resistance front, the stock faces hurdles at 3300 and 3350. A sustained move above these resistance levels could signal a further bullish trend. Given the positive chart setup and high volume, Godrej Properties appears to be poised...

[hfe_template id='11223'] [ad_1] The first quarter earnings season is underway and as many as 88 companies will announce their quarterly numbers on Thursday. Key results to watch out for include ITC, Sun Pharma, Tata Motors, Adani Enterprises, Adani Ports, Zomato and Dabur. Apart from the above, companies like AB Capital, Clean Science Tech, Emami, Escorts Kubota, Indegene, Le Travenues Technology, Max Healthcare, RailTel Corp, Tube Investments among others will also declare June quarter results. ITC Q1 expectations Diversified conglomerate ITC Ltd is expected to see a healthy revenue growth during the first quarter ended June 2024, led by cigarettes and hotels businesses.Revenue for the April-June 2024 period is seen growing 6% year-on-year, according to an average estimate of four brokerages. Meanwhile, net profit is likely to rise 3% year-on-year for the reporting period. While the cigarettes, hotels and FMCG businesses are estimated to report decent growth during the...

[hfe_template id='11223'] [ad_1] Synopsis Once again mid cap stocks have been outperforming in the last few days. Even when Nifty and Sensex corrected, the mid cap stocks have been able to keep their head above water and the market breadth has been positive. This is happening as the “risk on trade” has once again started. While one cannot rule out more volatility, over the next few weeks, if there is a sustained resumption of positive FII flows, then we might see these mid cap stocks getting pushed even higher. So be bullish, just be more selective. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". This predefined screener is only available to ET Prime users. With every passing day, a number of sectors which were lying low for some time after election results are returning to action. While some profit booking correc...

[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 Auto stocks collated with data from the latest Stock Reports Plus report dated Aug 1, 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 upside potential is up to 24%. The list has been sorted based on potential upside estimated by these analysts.Check out Stock Reports Plus, ETMarkets.com Aug 01, 2024, 08:56:00 AM IST Gift A Story Share member-only stories with your friends or family and help them read it for free. Gifting Limit Reached! ...

[hfe_template id='11223'] [ad_1] Brokerages such as Jefferies have maintained a "buy" and "hold" call on IOCL and Macrotech Developers, respectively, while Citi has a "buy" rating on GAIL. Goldman Sachs has retained a neutral view on Tata Consumer. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Citi on GAIL: Buy | Target price: Rs 250 Citi has maintained a buy call on GAIL with a target price of Rs 250. In the Q1 results, transmission and trading drove a strong beat, while the gas transmission also reported strong volumes and margins. It was another solid quarter for gas trading as well, however, petchem and LPG were below expectations. Jefferies on IOCL: Hold | Target price: Rs 180 Jefferies has maintained a hold rating on IOCL and hiked the target price to Rs 180 from Rs 175 IOCL was ahead in Q1 results despite weak margins. Refining was below estimates and the margins are expected to rema...

[hfe_template id='11223'] [ad_1] In the election-heavy June quarter, NRI investor Rajiv Jain-led GQG Partners raised stakes in 3 Adani stocks - Adani Energy, Adani Enterprises and Adani Ports - and its biggest India bet ITC. The institutional investor, on the other hand, was seen paring stakes in IDFC First Bank and Patanjali Foods in Q1 of FY24. Adani stocks After having shot to limelight for investing Rs 15,446 crore in four Adani stocks in the peak of the Hindenburg crisis in March last year, GQG's India portfolio has now surged to nearly Rs 90,000 crore with 13 stocks in the bouquet, shows data pulled from ACE Equity. During the quarter, the boutique investment firm was seen buying 3.81 lakh shares of Adani Energy, 2.46 lakh shares of Adani Enterprises and 11.14 lakh shares of Adani Ports. GQG booked profits in Adani Power and Ambuja Cements. While GQG's largest bet is Adani stocks as a conglomerate, its single largest bet remains ITC, the shares of which rec...

[hfe_template id='11223'] [ad_1] Ahead of the US Fed meeting outcome tonight in which Jerome Powell will signal the timing and number of rate cuts expected in the next few months, Sensex opened Wednesday's session around 150 points higher while Nifty crossed the 24,900-level as the 25,000 remained elusive. While traders are booking profits at higher levels, the expectation of dovish comments from the US Fed and Bank of England in the upcoming policy meetings this week is supporting the optimism, analysts say. Within the bluechip Nifty pack, Power Grid, Tata Consumer, Coal India and Axis Bank were trading down around 1% while stocks like Asian Paints, Maruti Suzuki and ICICI Bank saw buying momentum. Sectorally, buying was seen in FMCG, media, metal and pharma stocks while PSU banks and real estate stocks were under selling pressure. During the day, stocks like Maruti Suzuki, M&M, Coal India, Adani Power, Tata Steel, Ambuja Cements, Bank of Baroda, BHEL, Godrej Pr...

[hfe_template id='11223'] [ad_1] The Bank of Japan lifted its main interest rate Wednesday for just the second time in 17 years in another step away from its long-standing ultra-loose monetary policies. "Moves to raise wages have been spreading" in Japan while "economic activity and prices have been developing generally in line with the bank's outlook", the BoJ said. If the world's fourth largest economy moves in line with the bank's expectations, officials "will accordingly continue to raise the policy interest rate and adjust the degree of monetary accommodation", it said. Analysts had been divided on whether the BoJ would hike rates, with some predicting policymakers would wait until the autumn because of sluggish consumption in Japan.And while wages are rising -- with unions this year securing their biggest gains in three decades -- workers' pay has failed to keep up with the pace of inflation.The bank is seeking to norma...

[hfe_template id='11223'] [ad_1] In a key step for its proposed demerger, Vedanta has received approval from 75% of its secured creditors to obtain a clearance from stock exchanges. The natural resources major will then file the demerger scheme with the National Company Law Tribunal. The company is also in talks with some of these lenders to prepay their loans. In May this year, the company had approvals pending from some key lenders including State Bank of India and Canara Bank. This was followed by approval from SBI in June, while the remaining lenders were also expected to give their approvals in a few weeks. Apart from SBI and Canara Bank, lenders to the company include Union Bank of India, ICICI Bank, HDFC Bank, Axis Bank and Bank of Baroda, Bank of Maharashtra, Indian Overseas Bank, Punjab National Bank and Bank of Maharashtra. Of these, Bank of Baroda, Indian Overseas Bank, Punjab National Bank, Bank of Maharashtra and Union Bank of India have given their approval...

[hfe_template id='11223'] [ad_1] BENGALURU- Shares of Indian brokerages fell on Wednesday, a day after the markets regulator proposed several measures to curb trading in options. The Securities and Exchange Board of India (SEBI) on Tuesday evening proposed raising the minimum trading amount for index options by over three times, reducing the number of contracts expiring each week and hiking margins. Shares of Angel One, 5Paisa Capital, SMC Global Securities, Motilal Oswal, Geojit Financial, Dolat Algotech and IIFL Securities fell between 1%-5%. "Exchanges and retail focused brokers will be most impacted. Highest impact can come from reduction in the number of weekly option contracts," Jefferies said in a note. "BSE can offset impact and even gain, if volumes spillover from discontinued products to those which are continued." Shares of exchange operator BSE rose 6%. India has been flagging risks from speculative trading by retail investors, who have ...

[hfe_template id='11223'] [ad_1] The increase in capital gains tax in the Union Budget makes it tougher for PMS fund managers, who handle money for rich investors, to beat the good old mutual funds. While MFs themselves are not taxed when they churn portfolios, crorepati clients of PMS schemes are taxed, which can lead to inferior post-tax returns. With 20% short-term capital gains tax and 12.5% long-term capital gains tax, the difference in tax rates is now 7.5%, which was 5% earlier (with 15% STCG and 10% LTCG). As a result, PMS funds now need to maintain an alpha of 2% to 4% annually over mutual funds only to match post-tax returns. "If a mutual fund returns 12% a year, for an equivalent post-tax return, a PMS needs to return 13.97%. If a mutual fund returns 15%, the PMS has to make 17.53%. This is based on the assumption of 100% short-term gains in PMS, and that all taxes on capital gains and dividends are removed from the portfolio each year," Krishna Appa...

[hfe_template id='11223'] [ad_1] Shares of Colgate Palmolive (India) surged nearly 6% to a new all-time high of Rs 3,397.95 on the BSE after the company reported a 33% year-on-year (YoY) increase in net profit, reaching Rs 364 crore. The rise was driven by price hikes and steady domestic demand. Despite Colgate Palmolive raising prices to offset higher raw material costs, customers continued to prioritize spending on personal care products. The demand in rural markets outpaced growth in urban areas for a second straight quarter, the company said. Here is how brokerages have viewed the Q1 update: Investec: Hold | Target price: Rs 3,108 Investec has maintained a hold rating on Colgate and hiked the target price to Rs 3,108 from Rs 2,640.According to the global brokerage, Q1 was a blowout quarter. Volume-led 13% revenue growth is a decadal high and it believes that internal initiatives on product superiority, focus on its strengths as well as a favourable rural macro are bo...

[hfe_template id='11223'] [ad_1] Synopsis After a gap of almost three months, PSU banks witnessed an across the board up move. If one looks deeper, even in the last three months of correction or rather consolidation, the cut in PSU stocks was not very high. They moved in a sideways range. This is very different if one takes into account how the stock used to lead the correction earlier. The re-rating of PSU banks has to be divided into three parts, the first part which was about clean up of the banking system which was full of NPA brushed under the carpets and they got cleaned up and their balance sheets became more reliable. Second part was mergers which meant improvement in the operational efficiency. Now it is the third part, which is more important, growth and that too profitable growth. Is now the street getting ready to re-rate them because of loan book growth, which is showing green shoots due to the capex cycle starting back In developed markets, transportation ...