GAGA Share Market News

[hfe_template id='11223'] [ad_1] Global brokerage firm Jefferies has reaffirmed its 'buy' rating on Polycab India but has revised its target price downwards to Rs 6,485 from the previous Rs 7,700. The brokerage firm believes that UltraTech Cement's recent foray into the cables and wires (C&W) segment is not expected to pose a significant threat to Polycab until at least 2027. Additionally, the brokerage firm’s current target price still indicates an upside potential of 40% from its closing price of Rs 4,710.65 on the BSE. Jefferies has rationalized Polycab's target Price-to-Earnings (PE) multiple by 15%, bringing it to 32x now. This adjustment comes despite the brokerage acknowledging Polycab's strong market leadership with a 25% share of the organized market. The note, however, highlights potential risks for Polycab, including increased competition and a possible slowdown in demand. However, Jefferies also points to the burgeoning opportunity in ...

[hfe_template id='11223'] [ad_1] As the D-Street trains its guns on Budget 2025, due for announcement in a few hours, top brokerages have suggested themes for investors that could turn into potential winners. While the impact of the budget on stock markets has been on a falling curve over the past many years with the government undertaking reforms outside the purview of the annual financial plan, the expectation this time is of a balancing act between infrastructure spending and social reforms, say brokerages. There is a consensus view that the government could increase capex allocation by 10-15% for FY26. Moreover, the Street will cheer the government sticking to a fiscal deficit target of 4.5%. Brokerages expect a slew of announcements for financials, defense, railways, power, health, consumption and automobiles. "The budget is expected to prioritise high-speed rail projects, electrification, modernisation, and green initiatives, alongside enhancing tourism-focuse...

[hfe_template id='11223'] [ad_1] Mumbai: UltraTech Cement's open offer for subsidiary India Cements has seen a rare oversubscription, thanks to its high offer price. Less than 5% open offers launched since 2015 in the country have been fully subscribed, data compiled by ET showed. The ₹390-per-share offer, open from January 8 to 21, was subscribed 110%. It will increase UltraTech's stake in India Cements to 81.49%. India Cements' shares closed at ₹295.15 on Friday, marking a nearly 22% gain in a year. "They were offering a very good value compared to the price at which they bought from the Damanis. So, ideally, anyone who has bought the shares at Rs 300 or below would like to tender their shares," said Mangesh Bhadang, analyst at Centrum Broking. UltraTech will now have to pare its holding in India Cements to less than 75% to comply with market regulator Securities and Exchange Board of India's minimum public shareholding norms. "We will no...

[hfe_template id='11223'] [ad_1] The third quarter earnings season is underway and about 59 companies will announce their results on Thursday. Key results to watch out for include Ultratech Cement, Adani Green, Dr Reddy's, Mankind Pharma and HPCL. Apart from the above, companies like ZEE, Cyient, Greaves Cotton, IEX, LKP Securities, Mphasis, Nippon Life AMC, Senores Pharma, Sona BLW Precision and a few others will also declare their quarter results. Also Read : Catch all Q3 Results 2025 Live Updates Here Ultratech Cement Q3 expectations Cement major Ultratech is likely to see a decline in its profitability in the quarter ended December 2024, while the topline may rise marginally. Revenue from operations during the third quarter could rise just 1% year-on-year (YoY), according to an average estimate of four brokerages. Profit after tax (PAT) may decline 29% YoY. EBITDA for the quarter is estimated to decline 14% YoY and operating margins may contract 3.1 pp YoY to 16%...

[hfe_template id='11223'] [ad_1] Shares of India Cements skyrocketed 11% to an intraday high of Rs 376.30 on the BSE after the Competition Commission of India (CCI) approved UltraTech Cement’s primary acquisition and the open offer for acquiring a 32.72% equity stake in the former. Meanwhile, the shares of UltraTech Cement rallied 1.4% to their day’s high of Rs 11,585.40 on the BSE. UltraTech’s board had previously approved the acquisition of 10.14 crore (10,13,91,231) shares of The Indian Cements from the promoters and other shareholders, which is the primary acquisition. Additionally, the company made an open offer to acquire 8.06 crore (8,05,73,273) shares of the company at a price of Rs 390 per share from the public shareholders. Also read: Nifty’s 200-DMA key level to watch, determine trend: Analysts “We now write to inform you that the CCI has by its letter dated 20th December 2024 unconditionally approved the Primary Acquisition and the Open Offer under Section 31...

[hfe_template id='11223'] [ad_1] Equity indices ended lower on Thursday due to selling pressure in index majors as investors turned cautious ahead of the inflation data announcement. Stocks that were in focus include names like Ultratech Cement, which fell 0.8% and Bajaj Auto, which declined 1.05% and DMart, whose shares fell 0.4% on Thursday. Here's what Ameya Ranadive Sr Technical Analyst, StoxBox, recommends investors should do with these stocks when the market resumes trading today. UltraTech Cement UltraTech Cement is currently trading at Rs 11,856 and remains in a no-trade zone. The stock exhibits a significant long-term consolidation phase beginning in June 2024, with tight price movement within the Bollinger Bands. A decisive breakout above Rs 12,100 would signal a strong bullish move, targeting Rs 12,850 and Rs 13,100. The RSI stands at 61.51, indicating bullish momentum but not yet in the overbought territory, which aligns with the potential for further ups...

[hfe_template id='11223'] [ad_1] Markets traded within a narrow range on Friday and ended the day nearly unchanged despite an eventful session. In today's trade, shares of Ultratech, Paytm, L&T, Biocon, Alembic Pharma among others will be in focus due to various news developments. L&T Larsen and Toubro (L&T) has overturned a Rs 702 crore customs duty demand following a favourable ruling from the Central Excise & Service Tax Appellate Tribunal. EaseMyTrip EaseMyTrip signed a share purchase agreement to acquire 49% stake in Pflege for Rs 30 crore. Biocon Biocon received EIR With VAI Status From US FDA For Its API facility (Site 2), Bengaluru. Read more: Here's the trade setup for today's session Poonawalla Fincorp Dhiraj Saxena resigned as the Chief Technology Officer (CTO) due to harassment and unnecessary interventions of CHRO. Paytm Paytm Singapore will sell its stock acquisition rights (SARs) in Japanese payments firm PayPay for net proceeds...

[hfe_template id='11223'] [ad_1] IRFC Share Price 145.18 03:59 PM | 19 Nov 2024 6.9(4.99%) Suzlon Energy Share Price 62.22 03:59 PM | 19 Nov 2024 2.97(5.0%) IREDA Share Price 190.15 03:59 PM | 19 Nov 2024 2.63(1.41%) Tata Motors Share Price 783.2 03:59 PM | 19 Nov 2024 11.31(1.47%) YES Bank Share Price 19.56 03:59 PM | 19 Nov 2024 0.28(1.46%) HDFC Bank Share Price 1742.25 03:59 PM | 19 Nov 2024 37.16(2.18%) NHPC Share Price 80.01 03:59 PM | 19 Nov 2024 1.86(2.37%) RVNL Share Price 432.15 03:58 PM | 19 Nov 2024 15.95(3.84%) SBI Share Price 803.0 03:59 PM | 19 Nov 2024 -11.3(-1.39%) Tata Power Share Price 408.1 03:59 PM | 19 Nov 2024 3.41(0.85%) Tata Steel Share Price 139.46 03:59 PM | 19 Nov 2024 -1.75(-1.24%) Adani Power Share Price 524.1 03:59 PM | 19 Nov 2024 -2.75(-0.53%) PayTM Share Price 814.25 03:59 PM | 19 Nov 2024 30.36(3.88%) PNB Share Price 100.86 03:59 PM | 19 Nov 2024 0.33(0.33%) Zomato Share Price 271.36 03:59 PM | 19 Nov 2024 0.57(0.22%) BEL Share Price 279...

[hfe_template id='11223'] [ad_1] Indian benchmark equity indices Sensex and Nifty50 opened marginally higher on Thursday, led by index heavyweights HDFC Bank, RIL, and IT stocks, amid in-line US inflation data boosted expectations of a Federal Reserve rate cut in December. The BSE Sensex was trading 111 points, or 0.14%, higher at 77,801. The Nifty50 was up 32 points, or 0.13%, trading at 23,590 around 9:20 am. The US consumer inflation, released after market hours on Wednesday, rose to 2.6% in October from a year ago, up from 2.4% in September, the Labor Department said in a statement. This increase was aligned with analysts' forecasts. Markets are now pricing in an 83% chance of a 25bp rate cut from the Fed next month, up from about 59% a day ago. However, expectations of Fed cuts next year following Trump's election victory last week have since been pared back. From the Sensex pack, HCL Tech, NTPC, SBI, Reliance, Asian Paints, and HDFC Bank opened with gains, ...

[hfe_template id='11223'] [ad_1] Indian benchmark equity indices Sensex and Nifty50 opened marginally higher on Tuesday, amid weak global cues, driven by gains in index heavyweights ICICI Bank, Infosys, and Reliance Industries. The BSE Sensex rose 171 points, or 0.21%, to 81,323, while the Nifty50 gained 45 points, or 0.18%, trading at 24,826 at around 9:19 am. From the Sensex pack, ICICI Bank, Infosys, UltraTech Cement, Reliance Industries, and Titan were the top contributors driving the index higher, while Tata Steel, SBI, Kotak Bank, Bajaj Finance, and Tata Motors opened in the red. Meanwhile, Bajaj Housing Finance shares opened over 4% higher after the home loan financier reported a rise in second-quarter profit on strong credit demand. Ola Electric shares surged 4.5% in early trade after the company announced it had resolved 99.1% of the 10,644 customer complaints, highlighting its robust consumer grievance redressal system. On the sectoral front, the Nifty Realty i...

[hfe_template id='11223'] [ad_1] Domestic cement producers are likely to see their profits halve year on year in the September quarter as lower-than-usual volume growth and over three-year low prices of the building material hit realisations, analysts said. While lower pet coke prices will provide some respite to the cement makers, it will be inadequate to offset the impact of pricing on operating margins. Given that intense competition in the sector is expected to keep prices subdued in the near term, earnings downgrade is likely for the players, they added. The September quarter is generally weak for cement producers as demand is lower on account of the monsoon rains, which slows down construction activities. While volumes were 1-2% higher than the year-ago period, led by a pick-up in the last leg of the quarter, the overall quarter remained weak, with prices lower by 5-8% on year. “Multiple factors like delayed government spending post general elections, strong monsoo...

[hfe_template id='11223'] [ad_1] Indian Railway Finance Corporation Share Price 183.44 04:12 PM | 26 Jul 2024 -0.13(-0.07%) One97 Communications Share Price 509.05 03:59 PM | 26 Jul 2024 46.25(10.0%) YES Bank Share Price 24.97 03:59 PM | 26 Jul 2024 0.35(1.43%) ITC Share Price 502.2 03:59 PM | 26 Jul 2024 12.25(2.51%) HDFC Bank Share Price 1618.15 04:07 PM | 26 Jul 2024 1.56(0.1%) Tata Motors Share Price 1118.3 04:12 PM | 26 Jul 2024 27.35(2.51%) Zomato Share Price 224.62 04:12 PM | 26 Jul 2024 5.32(2.43%) Adani Enterprises Share Price 3080.5 03:59 PM | 26 Jul 2024 107.0(3.6%) Infosys Share Price 1878.9 04:12 PM | 26 Jul 2024 54.06(2.97%) Reliance Industries Share Price 3018.05 03:59 PM | 26 Jul 2024 33.25(1.12%) Adani Power Share Price 712.65 03:59 PM | 26 Jul 2024 17.45(2.52%) Vedanta Share Price 444.5 04:12 PM | 26 Jul 2024 13.61(3.16%) Indian Renewable Energy Development Agency Share Price 258.03 04:12 PM | 26 Jul 2024 -3.16(-1.21%) NHPC Share Price 104.62 04:12 PM |...

[hfe_template id='11223'] [ad_1] Shares of Orient Cement surged 5.5% to the day’s high of Rs 323.85 on BSE as UltraTech is in advanced negotiations for the acquisition of the company amid intensifying consolidation efforts in the sector. Kumar Mangalam Birla's flagship UltraTech is in advanced negotiations with the promoter of Orient Cement, his uncle CK Birla, after restarting talks in recent weeks, said people familiar with the discussions to ET. UltraTech is said to have offered a price of Rs 350-375 per share, a 22% premium to the current market price of Rs 307. In the past month, the Orient Cement stock has shot up 45%, hitting an all-time high of Rs 329 on July 1, largely on speculation that an acquisition deal was near conclusion. Kumar Birla's renewed efforts to buy Orient are seen as an attempt to trump Adani Cement and consolidate UltraTech’s position in the southern and western markets, especially Maharashtra and Telangana, after buying a 23% stake in ...

[hfe_template id='11223'] [ad_1] Shares of India Cements have rallied 33% in this week so far attaining a new all-time high of Rs 308.10 in Friday’s session after a 24% stake of the company was bought by UltraTech Cement. Ace investor Radhakishan Damani and related entities had sold around 6.91 crore shares or about 24% stake in India Cements to Ultratech Cement through a block deal on Thursday. The total stake sold by Damani and his entities comes to around 24% and the sale was done at an average price of Rs 277 apiece. Through the deal, Damani and his controlled entities bagged around Rs 1,914 crore. UltraTech's stake in Chennai-based India Cements pits it against Adani group's Ambuja and ACC cement companies for gaining ground in terms of market share. Also read: Initiating Coverage: Brokerage sees 10-26% upside in Coforge, Man Industries & Bandhan BankAnalysts said both Adani and UltraTech have been trying to gain market share and hence consolidation in ...

[hfe_template id='11223'] [ad_1] Mumbai: India's equity indices closed at fresh highs on Thursday, with Nifty and Sensex crossing the 24,000 and 79,000 milestones, respectively, for the first time, maintaining their bullish momentum since the election results earlier this month, amid high expectations from the budget after President Droupadi Murmu's speech in Parliament Thursday. Analysts said the sustained run-up in indices of late is part of the pre-budget rally, aided by renewed flows from foreign investors in June. The optimism, however, did not rub off on the broader market where there were more losers than gainers. The Nifty advanced 0.74%, or 175.70 points, to close at 24,044.5, after hitting a lifetime high of 24,087.45. Agencies The Sensex recorded a high of 79,396.03 before closing at 79,243.18, up 0.72%, or 568.93 points, over the previous day. Both indices have gained 9.9% since the election results on June 4 in a near-uninterrupted rally.“The markets...