Where should you invest in the pharma pack now? Rohit Agarwal answers
“There are a lot of options in the hospital space. As more and more companies get listed in any space, the valuation of that space tends to derate because the scarcity factor starts to reduce.. Ultimately, companies move on the ROCE they generate and this is not necessarily a space which generates humongous 20% ROC […]
S&P 500, Dow rally to higher close as inflation data feeds Fed pause hopes
All three major U.S. stock indexes surged more than 1%, with interest rate sensitive megacaps including Apple Inc , Microsoft Corp and Amazon.com providing the most upside muscle and pushing the tech-heavy Nasdaq up nearly 2% to its biggest one-day percentage jump in nearly a month.
NTPC plans IPO for green energy arm
India’s largest power producer, NTPC, plans to raise funds via an initial public offering (IPO) for NTPC Green Energy Ltd (NGEL) in the current fiscal year. This comes after Malaysia’s Petronas withdrew its bid for a 20% stake in the green energy unit, valued at around INR60bn ($806m). NGEL is critical to drive NTPC’s ambitious […]
Brokerages cut TCS earnings, price targets
For instance, JPMorgan maintained its underweight rating and slashed its revenue estimate by 1% and margin by 20 basis points (bps), resulting in a 2% EPS cut for the next fiscal. Its revised price target represents a 15% downside from the current levels.
Vedanta plans to raise Rs 2,100 cr via NCDs
Vedanta will be issuing up to 21,000 secured, unrated, unlisted, redeemable NCDs of face value ₹10 lakh each in one or more tranches, as per a stock exchange filing. Vedanta did not state the purpose for this fundraise in its note to the exchanges.
Infosys hits a bump, too, but deal pipeline strong
Given these factors, the stock is likely to show selling pressure and a gap-down opening cannot be ruled out when trading resumes on Monday after a long weekend.
Liquidity surplus at 9-month peak on high govt spend, FPI inflows
Typically, around 60% of government expenditure occurs in the first six months of a financial year. The Centre has earmarked Rs 10 lakh crore in the current fiscal for capex. Last fiscal, the government adopted a slower approach to capex spending until clarity emerged on its revenue streams, analysts said. According to analysts, it was […]
FirstCry plans secondary offer to sovereign funds at $ 3 billion valuation
Initial talks on for around $100m transaction; SoftBank to sell small stake.
At 4-7%, Infosys sees slowest sales rise in six years in FY24
Infosys forecast its slowest revenue growth in six years of 4-7% for fiscal year 2024 as India’s second largest software exporter flagged “ramp downs” of client mandates amid an uncertain macro environment in its major markets of US and Europe.