GAGA Share Market News

[hfe_template id='11223'] [ad_1] Synopsis Dr Lal PathLabs Ltd experienced a breakout from an inverse Head & Shoulder pattern, indicating a potential trend reversal. Experts recommend short-to-medium term traders to buy on dips, targeting above Rs 3,700. The stock has rebounded multiple times, most recently climbing above Rs 3,000 in July 2024, suggesting stronger support and potential upward momentum. Dr Lal PathLabs Ltd, part of the healthcare sector, recorded a breakout from inverse Head & Shoulder pattern on the monthly charts which has opened room for the stock to head higher.Short-to-medium term traders can look to buy the stock on dips for a possible target of above Rs 3,700 levels in the next few months, suggest experts.The healthcare stock which has a market capitalization of more than Rs 25,000 cr on the BSE hit a record high of Rs BY ETMarkets.com 4 mins read, Last Updated: Jul 30, 2024, 11:56:00 AM IST Gift A Story Share member-only stories with your f...

[hfe_template id='11223'] [ad_1] The shares of VVIP Infratech listed on the BSE SME platform with a premium of 90% on Tuesday. The stock debuted at Rs 176.7 as against an issue price of Rs 93. Ahead of the listing, the company's shares traded with a GMP of around Rs 125 in the unlisted market. The IPO, which was completely a fresh equity sale of 65.82 lakh shares, was booked over 200 times, thanks to robust response from all categories. The net proceeds from the public offer will be used for funding working capital requirements, capital expenditure and general corporate purposes. VVIP Infratech is a Class A civil and electrical contractor. The company is engaged in the business of execution and construction of infrastructure projects such as sewer, sewer treatment plants, water tanks, water treatment plants, sector development work, electrical distribution and substations up to 33 KVA. Also Read: Two early Ola Electric investors to reap up to 824% returns in biggest ...

[hfe_template id='11223'] [ad_1] Shares of PNB Housing Finance were in the spotlight in Tuesday's early trade after 13.1% equity of the company changed hands in a block deal in which US-based private equity firm Carlyle is believed to be the seller. Carlye had upsized the size of the block deal to Rs 2,511 crore or 12.8% of equity at a floor price of Rs 755, ET Now reported. Earlier it was reported that the PE firm will sell up to a 6.4% stake in the company through an open market transaction. Following the large deal, PNB Housing Finance shares were trading 1.5% lower at Rs 782.5 on BSE. The stock has grossly underperformed so far this year and is flat on a year-to-date basis as compared to a 13% rise in the benchmark Sensex. As of June 30, 2024, Carlyle held a 32.68% stake in the housing finance company. In the June quarter, the company's net profit increased by 25% year-on-year (YoY) and declined by 1.5% quarter-on-quarter (QoQ) to Rs 433 crore while net inter...

[hfe_template id='11223'] [ad_1] Shares of private sector lender Bandhan Bank on Monday jumped 10% to hit upper circuit limit of Rs 211.65 on the BSE after reporting a healthy 45% year-on-year (YoY) earnings growth, led by 25% YoY operating profit growth and 15% YoY decline in provisions. Following the beat, ICICI Securities upgraded the stock to ‘add’ rating from ‘hold’ with an increased price target of Rs 220, saying that the risk-reward is turning favourable. "We believe Bandhan will likely see a sharp rise in RoA/RoE, from 1.3%/11% in FY24 to ~1.8%/1.9% RoA and ~15%/16% RoE for FY25E/26E. We recalibrate to a more constructive view on the stock given stabilising stress levels, likely substantial rise in RoA/RoE and inexpensive valuations of 1.5x trailing ABV and ~1.1x FY26E ABV," ICICI Securities said. During the quarter, Bandhan's NIM was unchanged quarter-on-quarter (QoQ) at 7.6%. AUM and deposit growth was at 22-23% YoY while the asset quality showed ...

[hfe_template id='11223'] [ad_1] Shares of IDFC First Bank shares tumbled 3% to its day’s low of Rs 72.31 on Monday, apparently impacted by its first quarter results. Its standalone net profit fell 11% year-on-year (YoY) to Rs 680.65 crore due to increased provisions in JLG (joint liability group) business following floods in Tamil Nadu. IDFC Bank’s net interest income (NII) during the quarter rose 25.4% to Rs 4,695 crore while interest income jumped 28% to Rs 8,789 crore. The lender's net interest margin (Gross of IBPC and sell-down) reduced from 6.33% in Q1 FY24 to 6.22% in Q1 FY25. Its fee and other income grew 19% YoY from Rs 1,341 crore in Q1 FY24 to Rs 1,595 crore in Q1 FY25. Here is what brokerages say: ICICI Securities: Buy| Target price: Rs 95 IDFC First Bank has reported a broadly in-line set of numbers with strong business growth and better cost income, though higher credit costs (as guided) weighed on PAT (Rs 680 crore) and RoA (down 12bps QoQ to 91bps). ...

[hfe_template id='11223'] [ad_1] Shares of private lender ICICI Bank rise 2.5% on Monday on BSE to its day’s high of Rs 1436.70 after the bank on Saturday reported a 14.6% year-on-year (YoY) jump in its standalone profit after tax to Rs 11,059 crore for the June quarter. The bank’s net interest income (NII) for the quarter rose by 7.3% YoY to Rs 19,553 crore while the net interest margin was 4.36% in Q1 compared to 4.40% in Q4 of FY24 and 4.78% in Q1 of FY24. During the quarter, ICICI Bank's fee income grew by 13.4% YoY to Rs 5,490 crore in Q1. Fees from retail, rural, business banking, and SME customers constituted about 78% of total fees. The NII of the bank was in line with ET Now poll estimates while PAT was above expectations. Here is how analysts viewed the quarterly results: Morgan Stanley: Overweight| Target price: Rs 1,500 The global brokerage firm has maintained an overweight call on ICICI Bank and hiked the target price to Rs 1,500 vs Rs 1,400 The delivery...

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