Analysts retain ratings and price targets on RIL
After the third quarter results, 29 analysts had a ‘buy’ rating on the stocks, four had a ‘Hold’ and three had a ‘Sell’ rating. Analysts’ average 12-month price target on the stock compiled by Bloomberg is ₹2,874, implying an upside of 18.4% from Monday’s closing.
Rise in cement prices crucial to prop up UltraTech stock
In the post-earnings’ conference call, the management emphasised on the necessity to increase cement prices to deal with high fuel prices. Without that, there will be pressure on operating profit margins.
Sebi’s Rs 625 crore disgorgement order against NSE set aside
Sebi had passed the disgorgement order in the co-location case after complaints surfaced that a broker used NSE staffers to gain unfavourable server access and benefit monetarily. To be sure, the tribunal has directed NSE to deposit ₹100 crore to the investor protection and education fund created by Sebi.
Axis Bank December quarter net profit surges by 62%
Net interest income, which is the difference between interest earned and paid, rose 32% to ₹11,459 crore for the quarter under review versus ₹10,360 crore in the year ago period. Net interest margins expanded to 4.34% at the end of the December quarter against 3.77% a year ago.
FPIs cut exposure to financial services, IT
Analysts said banks tend to be the most affected in the event of foreign fund selling in India because the sector has the highest weightage in the benchmark indices – the Nifty and Sensex. In the past two weeks, foreign fund managers have sold Indian shares worth ₹11,000 crore amid heightened a risk-off sentiment globally.