GAGA Share Market News

[hfe_template id='11223'] [ad_1] As the exit polls are flashing a clear advantage to the Bharatiya Janata Party (BJP) led NDA faction, top voices on Dalal Street see a continuation of reform policies in Prime Minister Narendra Modi's third term. They expect the government's focus on infrastructure, defence, railways and other sectors to continue. According to the poll-of-polls, the National Democratic Alliance (NDA) is projected to secure over 350 seats out of the 542 contested, spanning seven phases over 48 days. While exit polls are estimates, the counting of votes will take place on June 4, Tuesday. Here's what experts said: CLSA Even as the exit polls give BJP a poll position, the final outcome is yet to come. Hong Kong brokerage CLSA said that a favourable outcome would raise investor confidence in India’s economic growth. This could encourage investors to play this growth beyond Modi stocks, which are direct policy plays.It has gone ahead to identify 54...

[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] The RBI’s Monetary Policy Committee (MPC) meeting on June 7, 2024 will be held in the aftermath of the momentous Lok Sabha election results on June 4, 2024. With the BJP poised to romp home, there is likely to be an air of expectation and excitement and a spring in the step. In view of multiple factors, including inter-alia, the global and domestic context, and the emerging inflation scenario, the RBI is likely to maintain a status quo on interest rates during this meeting. Why do we say so? Our view is that both the Government and the RBI will prefer to take stock of the macro-level geopolitical uncertainty caused by an escalation of the recent conflict in the Middle East, financial stress, persistent inflation and slowdown in international trade, the future of globalization, overarching macro-environment, the priorities of the Government and the fiscal glide path aimed at gradually reducing the fiscal deficit. The macroeconomic setting ...

[hfe_template id='11223'] [ad_1] With impatient investors unwilling to wait till the release of Lok Sabha election results on June 4 or even the exit poll on June 1, Sensex has rallied over 3,500 points since voting began in a Rs 26 lakh crore rally. Considering April 19's low of 71,816.46, when voting for the first phase of Lok Sabha elections began, and Monday's closing of 75,390, Sensex is up over 3,570 points. In the meantime, the combined market capitalisation of all BSE-listed stocks has also gone up by Rs 26.36 lakh crore to Rs 419.95 lakh crore on Monday. Historical trends suggest that sharp movements may not stop here. In all the last 4 elections, the week preceding the results has been hectic. In 2004, when a Congress-led UPA government snatched power from NDA, Nifty had fallen 21.5% in the pre-result week. In 2009 elections, when Manmohan Singh retained the crown, Nifty had zoomed nearly 22% in 5 days before the D-Day. In 2014, Nifty had rallied 5% in ...

[hfe_template id='11223'] [ad_1] Shares of Suzlon Energy dipped 2% today on BSE to the day's low of Rs 45 after the company reported a decline of 21% year-on-year (YoY) in Q4 net profit to Rs 254 crore. However, brokerages see an upside to Rs 54 for the stock. The consolidated net profit in the 2023-24 fiscal year also declined to Rs 660 crore from Rs 2,887 crore a year earlier while total income rose to Rs 2,207.43 crore in the quarter from Rs 1,699.96 crore in the same period a year ago. Despite a decline in net profit for the fourth quarter, brokerages are bullish on the stock as they predict a 20% upside potential for the stock. Here's what analysts have to say: ICICI Securities It has been a real turnaround year for Suzlon Energy (Suzlon), with net debt free, strong execution growth of 10% to 710 MW and order inflow of 3.1GW in FY24. Suzlon has reported a strong order inflow of 3.1GW in FY24 and 402MW in FY25-YTD, robust order backlog of 3.3GW as of date (5x...

[hfe_template id='11223'] [ad_1] Shares of Zee Entertainment Enterprises rose nearly 3% to Rs 144.4 in Tuesday's trade on BSE after the firm reported a profit of Rs 13 crore in the March quarter of FY24, after reporting a loss of Rs 196 crore in the year-ago period. Moreover, the company's shares closed over 4% higher in a special trading session conducted on Saturday. However, sequentially the March quarter of FY24 remained muted. The company has reported a profit of Rs 58.5 crore in Q3 FY24. The company reported a total income of Rs 2,185 crore, up from Rs 2,126 crore during the same period a year ago. Its advertising revenue stood at Rs 1,110 crore as against Rs 1,006 crore in Q4 FY23. For the full year of FY24, the broadcaster's profit stood at Rs 141.4 crore crore as against Rs 47.8 crore in FY23. Revenue from its streaming platform Zee5 improved marginally in Q4 FY24 to Rs 237 crore from Rs 220 crore during the same period a year ago. In FY24, the over-...

[hfe_template id='11223'] [ad_1] Kaynes Technologies shares rallied over 40% in the last three trading sessions on BSE after the firm reported an upbeat January-March quarter performance. Meanwhile, in today's trade, the stock has surged 12% to hit a 52-week high of Rs 3,638.4. In Q4 FY24, Kaynes Tech's consolidated net profit jumped 96.8% year-on-year (YoY) to Rs 813 crore, while revenue from operations increased 74.8% YoY to Rs 637.3 crore. The growth was led by strong demand across all verticals, especially industrial & EV, aerospace, outer-space, and strategic electronics and railways segments. The company's EBITDA grew 60.5% YoY to Rs 952 crore in Q4FY24, but the EBITDA margin contracted by 134 basis points (bps) to 15%. Its order book stood at Rs 4,115 crore in FY24 as against Rs 2,648 crore in FY23. Should you buy, sell, or hold Kaynes Technologies' stock? Here's what analysts say: JM Financial JM Financial maintained its 'Buy' rati...

[hfe_template id='11223'] [ad_1] Shares of TVS Motor Company surged nearly 6% on Thursday on BSE to the day’s high of Rs 2,121.30 as the company reported an 18% year-on-year (YoY) increase in standalone net profit to Rs 485.43 crore for the fourth quarter ended March 31, 2024. TVS Motor Company’s revenue from operations in the quarter under review grew 24% YoY to Rs 8,169 crore as against Rs 6,605 crore registered in the quarter ended March 2023 while Overall, two-wheeler and three-wheeler sales, including exports, grew by 22% to 10.63 lakh units in the quarter ended March 2024. Here’s how brokerages view the stock post Q4 results: Jefferries The stock is scaling to new highs and the growth momentum seems to continue as India’s 2-wheeler industry is poised for strong growth while exports are also recovering, said Jefferies. The company’s margins are improving and the EPS has more than trebled in the last 3 years and is expected to more than double in the next 3 years. Je...

[hfe_template id='11223'] [ad_1] Shares of JSW Energy surged 5.8% today on BSE to the day’s high of Rs 618 after brokerages raised target prices on the stock following Q4 results. The company reported a 22% YoY jump in March quarter profit to Rs 345 crore. JSW Energy reported its Q4 results on Tuesday, in which the revenue from operations for the said quarter stood at Rs 2,756 crore versus Rs 2,670 crore in the year-ago period, clocking a 3% YoY rise. One of India's leading power companies, JSW Energy achieved its highest-ever EBITDA of Rs 5,837 crore for FY24, up 53% YoY. For Q4FY24, EBITDA surged 47% YoY to Rs 1,292 crore resulting in a 29% YoY increase. Here’s a look at what brokerages said on the stock: Jefferies The profitability improvement for the acquired portfolio is underway. The company plans to reach a 20 GW capacity target by FY30E. It forecasts a 33% EPS CAGR in FY24-27. Jefferies maintained a buy rating on JSW Energy but raised the target price to Rs 6...

[hfe_template id='11223'] [ad_1] Shares of Marico jumped 10% on BSE in Tuesday's trade to the day’s high of Rs 583 after the FMCG major on Monday reported a 5% year-on-year (YoY) jump in its March quarter consolidated net profit at Rs 320 crore. The revenue from operations rose merely 1.7% YoY to Rs 2,278 crore from Rs 2,240 crore in the year-ago quarter although the company managed to trim its expenses to Rs 1,894 crore in Q4FY24 from Rs 1,970 crore in Q3FY24 and Rs 1,907 crore in Q4FY23. Brokerages share a mixed view on the stock post the March quarter results. Here’s what they have to say: Motilal Oswal Motilal Oswal says that the improvement in rural market, market share gain, accelerated growth in foods and premium personal care, healthy growth in international business, and the normalization of price cuts should help MRCO deliver better revenue in FY25-26E. They added that Marico has also been sustaining double-digit EBITDA growth. They have a ‘buy’ rating main...

[hfe_template id='11223'] [ad_1] Shares of CarTrade Tech on Tuesday rose 10.5% to the day’s high of Rs 896 on BSE after the company reported its highest-ever revenue of Rs 161 crore in Q4. The profit after tax for the reported quarter stood at Rs 24.97 crore, resulting in year-on-year (YoY) growth of 43%, while the company had reported a consolidated revenue of Rs 116 crore. Further, the multi-channel auto platform claimed to receive the highest ever average monthly unique visitors for Q4FY24, at 7 crore and more than 92% of which was organic. Here’s how brokerages are viewing the results: Nomura Nomura expects a healthy 20% revenue CAGR (FY24-26F) to continue in the consumer/OLX businesses as OEMs spend more on higher new car inventory and stronger value proposition with OLX in the used car segment. Better execution in OLX may drive further upside.Nomura has maintained its ‘buy’ rating on the stock with a target of Rs 982. JM Financial While new auto segment growth (c.1...

[hfe_template id='11223'] [ad_1] IndusInd Bank shares fell 2% to Rs 1,469 in Friday's trade on BSE after the firm reported its March quarter results. Private sector lender reported a 15% year-on-year (YoY) jump in its March quarter net profit at Rs 2,347 crore, which was higher than the Street estimate of Rs 2,041 crore. Its net interest income or NII rose 13.9% to Rs 5,376 crore during the quarter. The lender's provisions were down 3.8% quarter-on-quarter (QoQ) to Rs 899 crore while its gross NPA and net NPA ratios improved to 1.92% and 0.57% from 1.98% and 0.59% YoY respectively and PCR at 71% in Q4. Its net interest margin (NIM) stood at 4.26% compared to 4.28% for Q4 FY23 and 4.29% for Q3 FY24. During the quarter, IndusInd's deposits were Rs 3,84,586 crore against Rs 3,36,120 crore, an increase of 14% YoY. CASA deposits increased to Rs 1,45,666 crore with Current Account deposits at Rs 46,989 crore and Savings Account deposits at Rs 98,676 crore. CASA dep...

[hfe_template id='11223'] [ad_1] Axis Bank shares rallied 5% to the day’s high of Rs 1,119 on Thursday after the company posted results better than market expectations yesterday. The lender reported a robust profit of Rs 7,129.67 crore for the March quarter, supported by margin expansion and higher non-core incomes. Q4FY24 net interest income (NII) grew 11% YoY and 4% QoQ, while PAT stood at Rs 7,130 crores, up 17% QoQ. The board of directors also recommended a dividend of Re 1 per share for the year ended 31st March 2024. The private bank also announced that its board has approved raising of funds worth Rs 55,000 via a mix of debt and equity. Of the total approved plan, the lender will raise around Rs 35,000 crore through the issue of various debt instruments including long-term bonds, masala bonds, and sustainable, optionally/compulsorily convertible debentures among others. The remaining Rs 20,000 crore will be by issue of equity shares or related securities. After th...

[hfe_template id='11223'] [ad_1] Shares of ICICI Prudential Life Insurance declined nearly 7% to Rs 553 in Wednesday's trade on BSE after the company reported a 26% drop in its consolidated net profit to Rs 174 crore for the quarter ended March 2024. The same stood at Rs 235 crore in the year-ago quarter. However, its net premium income for the reporting period jumped 17% to Rs 14,788 crore. The company also saw a lower new business margin, hurt by a persistent decline in demand for high-value policies and as customer preferences shifted towards low-margin products. Value for new business (VNB), the expected profit from new policies, fell 19% to Rs 2,227 crore for the year ended March 31, dragging the VNB margin to 24.6% from 32% a year earlier. The decline in VNB margin is primarily on account of the shift in the underlying product mix towards unit-linked business, the company said. Also Read: Big movers on D-Street: What should investors do with ABFRL, Tata Consume...