Farmers outfit, civil society caution government against joining IPEF trade pillar
Raising concerns that India signing the pact would raise the cost of agricultural production, and lower the regulatory barriers to trade of genetically modified seeds, crops and food, they said: “We urge India to not join the trade pillar citing geo-political considerations and without analysing the full implications of the agreement”. They said that under […]
Jefferies’ Chris Wood adds Zomato to India portfolio; HDFC Life makes exit
Christopher Wood, Jefferies’ Global Head of Equity Strategy, has added Zomato to his India and global long-only equity portfolios. The weight of the stock in the India portfolio will be 4%, with a 2% increase in REC. Zomato is replacing HDFC Life Insurance, which has been removed. Wood has also added Zomato and SBI Life […]
Value buys? These 20 Nifty stocks trading below 10-year PEs
Although Indian stock market valuations have dropped to their 5-year and 10-year historical averages, analysts still lack comfort in recommending investors to put money aggressively. However, nearly 50% of index stocks are below their 10-year averages, which can offer decent returns. UPL has the highest upside at 35%. Meanwhile, HDFC Bank, SBI, Axis Bank, and […]
Does LIC’s multifold jump in Q4 profit make it a buy? What brokerages say
Life Insurance Corporation of India (LIC) has reported a standalone net profit of Rs 13,428 crore for Q4 FY23, a 466% increase YoY, prompting brokerages including Motilal Oswal, Axis Capital and JM Financial to recommend “Buy” on the stock, while Emkay has maintained its “Hold” rating. LIC’s net premium income fell 8% to Rs 1.31 […]
Chart Check: With 24% rise in a month, this hospital stock hits fresh record high; time to buy or book profits?
Experts suggest that Max Healthcare’s recent rally may not be over, despite failing to maintain a fresh record high. Traders could buy the stock at present or on dips towards Rs 450-500 with a potential target of Rs 750-1,000 in the next six months, they say. On the weekly charts, the stock broke out from […]
India challenges WTO panel ruling on ICT import duties at appellate body
The dispute panel of WTO on April 17 said in its report that import duties imposed by India on certain information and technology products violate global trading norms.
Page Industries shares tank 15% on disappointing Q4 earnings. What should you do now?
Shares of Page Industries fell 15% in early trade after the clothing company reported a 59% YoY drop in net profit for Q4 2022-23. Revenue from operations was also down 13%. Brokers had mixed opinions on the stock’s outlook with Morgan Stanley maintaining its ‘Overweight’ stance and setting a price target of INR43,068, Kotak Institutional […]
India likely to see listing of four REITs in next 18 months: Anshuman Magazine
India is set to see at least four new Real Estate Investment Trusts (REITs) listed on the stock exchange between the second half of 2021 and early 2025, if the performance of the stock market stays consistent, according to Anshuman Magazine, head of CBRE India. The introduction of REITs has been a success in India, […]
Hot Stocks: Global brokerages on Cummins India, Phoenix Mills and Page Industries
Goldman Sachs maintained a neutral rating on Cummins India, whereas Credit Suisse maintained an outperform rating on the company. CLSA has a buy rating on Phoenix Mills, and Morgan Stanley maintained an overweight rating on Page Industries with concerns over the company’s weaker Q4 performance. While Cummins India’s prospects are tied to internal combustion engines, […]
Positive Breakout: Tata Elxsi and 7 other stocks crossed above their 200 DMAs
In the NSE list of stocks with a market cap of over Rs 10,000 crore, eight stocks crossed above their 200 DMA (Daily Moving Averages) on May 25, according to stockedge.com’s technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As […]