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[hfe_template id='11223'] [ad_1] Domestic brokerage firm InCred Equities has raised its bull-case probability from 20% to 25%, upgrading the target price for Nifty to 25,683. InCred also came out with a list of 19 high-conviction stock ideas, including HDFC Bank, M&M Finance. “Factoring in favourable macroeconomic tailwinds led to an upgrade in our blended Nifty-50 target to 25,683 (from 24,084 earlier). The preference for largecaps remains. We have added defensive stocks to our high-conviction ideas list and removed policy-risk stocks in the defence sector,” said a report by InCred Equities. The March 2024 quarter results were marginally above expectations. FY25F-26F Bloomberg consensus Nifty-50 PAT CAGR of 12% is expected to be driven by telecom, consumer staple, materials, consumer discretionary and capital goods sectors. With the VIX now back to near-13 level, the domestic brokerage firm states that the strong macroeconomic tailwinds and their FY25F-26F EPS growt...

[hfe_template id='11223'] [ad_1] Shares of Hyundai Motor, South Korea's leading carmaker, jumped here on Monday as it confirmed that its India unit has filed for an initial public offering (IPO) to raise around $3 billion (Rs 25,000 crore). Hyundai Motor surged 6.34 per cent to 285,000 won (US$206) shortly after opening on the South Korean exchange, marking a fresh 52-week peak. The stock pared early gains to 279,000 won as of 10:30 a.m. (South Korean time), reports Yonhap news agency. Earlier in the day, Hyundai Motor said in a regulatory filing that its India unit submitted IPO documents to an Indian regulator. Hyundai Motor said that a listing of its India unit will be determined after India's regulatory body reviews, without elaborating further.Hyundai Motor India filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an IPO."The objects of the offer are to carry out the Offer for Sale of up to 142,194,70...

[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] Synopsis Mahindra & Mahindra may see an earnings-led upgrade due to encouraging bookings for its newly-launched compact SUV, the XUV 3XO, forecasts of improvement in the tractor segment, and expectations of increased industry volume growth. The company's premium valuation at 23 times one-year forward earnings reflects investor confidence in its market performance. ET Intelligence Group: Mahindra & Mahindra may see earnings-led upgrade due to encouraging bookings for its newly-launched compact SUV and forecasts of improvement at the tractor segment, helping capture investor interest in a stock that outperformed the market with 28% returns in three months.Volume growth of more than 20% in the SUV segment and low single-digit expansion in tractors as predicted could help the company post ₹1 lakh crore in BY ET Bureau 4 mins read, Last Updated: May 20, 2024, 08:35:00 AM IST Gift A Story Share member-only stories with your friends ...

[hfe_template id='11223'] [ad_1] Shares of Mahindra & Mahindra jumped over 4% on Tuesday to hit a fresh record high of Rs 2,152.15 after the company launched a compact SUV named XUV 3XO in competition with its peers like Tata Nexon, Hyundai Venue and Maruti Suzuki Brezza. The price of the SUV starts from Rs 7.49 lakh. Appealing to multiple segments, XUV 3XO aims to transcend the expectations of the new-age SUV buyers. Each variant is tailored to meet the specific needs and preferences of its respective segment. The vehicle has a first-in-segment skyroof, dual-zone climate control, 65 W USB-C charging, electronic parking brake with auto hold, 3 smart steering modes, and level 2 ADAS. “With the launch of the XUV 3XO, starting at an attractive price of ₹ 7.49 Lakh, Mahindra is redefining what an SUV can be. Engineered to deliver 'Everything you want & more,' the XUV 3XO is designed to cater to a broad spectrum of customers. From those upgrading from a hatchb...

[hfe_template id='11223'] [ad_1] Domestic markets continued their winning run for the fifth day in a row on Thursday, driven by strong global cues. “Investors placed more bullish bets on the monthly F&O expiry day, which saw benchmark indices rally for the fifth straight session led by gains in frontline banking and metal stocks. Even the fall in other Asian and European indices and US Dow Futures witnessing a sharp fall too didn't deter local investors," Prashanth Tapse, Senior Vice President (Research) at Mehta Equities said. Notwithstanding FIIs outflows, India's strong growth prospects and hopes of a majority win for the ruling party in the upcoming elections has been drawing a lot of domestic investors to take exposure to equities, Tapse said. Here's breaking down of the pre-market actions: STATE OF THE MARKETS GIFT Nifty (Earlier SGX Nifty) signals a positive start GIFT Nifty on the NSE IX traded higher by 25 points, or 0.11 per cent, at 22,680...

[hfe_template id='11223'] [ad_1] Indian headline indices today ended in the green, registering their fifth successive gains led by Axis Bank and other banking stocks. While the S&P BSE Sensex settled at 74,339.44, up by 486.50 points or 0.66%, the broader Nifty closed at 22,570.35, gaining 168 points or 0.75%. In today's trade, shares of Maruti Suzuki, Bajaj Finserv, HCL Technologies, Eveready Industries, SBI Cards and Payment Services, SBI Life Insurance Company, Vedanta and Bajaj Finance among others will be in focus due to various related developments or quarterly earnings. Maruti, Bajaj Finserv, HCL Tech, Eveready Industries, SBI Card, SBI Life, Mastek Shares of Bajaj Finance, Nestle, Tech Mahindra and IndusInd Bank will be in focus as the companies will announce their quarterly results later in the day. Read more: Here's the trade setup for today's session Vedanta Metal major Vedanta on Thursday reported a net profit of Rs 1,369 crore for the March-e...