GAGA Share Market News

[hfe_template id='11223'] [ad_1] Morgan Stanley and Norwest Capital-backed Ummeed Housing Finance has raised ₹630 crore in a Series F round from investors including A91 Partners LLP, Mirae Asset Venture Investments (India), Anicut Capital and existing investors Norwest Venture Partners. The fundraising is in a combination of primary capital of ₹300 crore and an exit for Lightrock Global Fund, which had invested in 2018. Lightrock Global Fund exited at 3x return by raising ₹330 crore in lieu of its original equity in the home financier. DC Advisory India was the exclusive financial advisor to Ummeed. The funds will be used to expand in the central and southern parts of India, including Madhya Pradesh, Telangana and Andhra Pradesh. Ummeed's 60% portfolio consists of affordable housing loans and the remaining secured small-ticket business loans to self-employed individuals in the low and middle-income categories."Raising primary capital for the company was the main...

[hfe_template id='11223'] [ad_1] Citing the inclusion of natural gas under GST, global brokerage Morgan Stanley is bullish on gas stocks. The brokerage believes this move could significantly benefit the entire natural gas value chain, offering a range of advantages to various stakeholders. Morgan Stanley identifies Exploration and Production (E&P) companies, specifically ONGC and Oil India, as the primary beneficiaries of this policy change. The brokerage estimates a potential 5% upside to ONGC's standalone earnings and a 3-4% upside for Oil India. This optimistic outlook is grounded in the anticipated operational efficiencies and cost reductions resulting from the GST inclusion. The analysis also highlights the positive implications for other players in the natural gas sector. Indraprastha Gas Limited (IGL) and Gujarat Gas are expected to benefit as natural gas becomes a more favourable alternative to other fuels. This shift is likely to enhance their market pos...

[hfe_template id='11223'] [ad_1] Brokerage firms such as CLSA list out stocks such as L&T, IRB, and NCC among others that could benefit from the 100-day plan for Modi 3.0, Goldman Sachs is positive on private banks, Jefferies prefers Aavas Financiers, Can Fin Homes as top housing finance companies and Morgan Stanley are overweight on HDFC Life. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: CLSA on the 100-day plan for Modi 3.0: Infra stocks to benefit An ambitious 100-day plan for Modi 3.0 to hit the ground running with large orders, CLSA said in a note. Large orders the being identified to be placed across the infrastructure and defence domains, it said.Asset monetisation plans to improve funding visibility. Demands from the BJP's allies for more capex in the Andhra and Bihar states should revive state capex as well.The global investment bank Larsen & Toubro (L&T), IRB Infrastructure, Hindustan Aeronaut...

[hfe_template id='11223'] [ad_1] Brokerage firm Morgan Stanley has an Equal Weight rating on PB Fintech, Jefferies recommended a buy on JSW Energy, Goldman Sachs maintained a buy on Pidilite Industries and UBS has a buy on Max Financials. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Morgan Stanley on PB Fintech: Equal Weight| Target Rs 1010 Morgan Stanley maintained an Equal Weight rating on PB Fintech with a target price of Rs 1010. The beat was led by much stronger insurance business. The core business beat was led by strong insurance new business growth.Disbursement growth was weaker due to tighter credit supply. Adjusted EBITDA margin reached a new high.Investor focus will be on the sustainability of premium momentum and a pickup in the credit business.Jefferies on JSW Energy: Buy| Target Rs 690 Jefferies maintained a buy rating on JSW Energy but raised the target price to Rs 690 from Rs 600 earlier. The profitabil...

[hfe_template id='11223'] [ad_1] Shares of Titagarh Rail Systems jumped nearly 9% to Rs 1,124 in Tuesday’s trade on BSE after the global brokerage firm Morgan Stanley initiated coverage on the stock with an 'Overweight' rating and a target price of Rs 1,285, which indicates an upside potential of 24% from the previous day's closing price of Rs 1,034.7. The brokerage firm affirmed its observation of a strong resurgence in India's railways and expressed confidence in Titagarh being a major beneficiary of it. Morgan Stanley views freight as a substantial revenue driver for Titagarh while recognising the passenger business as a promising avenue for growth. It anticipates a strong 28% earnings compound annual growth rate (CAGR) over FY 24-27. Considering a valuation of 35x FY26 PE, Morgan Stanley believes it's reasonable, given the company's strong earnings visibility and improving return ratios. Also Read: Election Jitters? Why stock market's fear...