Hot Stocks: Brokerages on Vedant Fashion, Nazara Technologies, Piramal Enterprises and Zee Entertainment
Morgan Stanley maintained an overweight rating on Vedant Fashion at a target price of Rs 1418. The global investment bank believes that the share price will rise relative to the country index over the next 60 days.
Local funds buying takes AUM Vs FPI ratio to a record
The three-month rolling cumulative investment of the domestic mutual funds stood at ₹65,919 crore at the end of October – the highest in 16 months according to data from market regulator Securities and Exchange Board of India (Sebi). FPIs pulled out ₹27,052 crore from Asia’s third-largest economy during the period.
Adding more than just shine to your portfolio, gold’s an essential asset
While the yellow metal may not be at top-of-the-table in terms of returns, its role in portfolio diversification remains critical, wealth advisors said. Gold is seen gaining in high single digits over the next few months.
Tata Capital soars in unlisted market on IPO hopes
Like Tata Technologies, Tata Capital has drawn significant investor interest in the unlisted market since the introduction of the stock there about six months ago. The scrip trades in the range of ₹400 to ₹425.
Pidilite’s lending foray to enable closer bond with smaller clients
The move aims to cater to the need for small ticket, working capital loans to these individuals whose KYC and creditworthiness are otherwise known to the company.
Equity mutual funds surge 42% in October
Debt mutual funds too witnessed inflows of ₹43,634 crore after the outflows in September, as corporate treasuries came back to liquid funds with October being the first month of the third quarter of the financial year. The average assets under management inched up to ₹47.52 lakh crore from ₹47.50 lakh crore in September.
ASK Automotive IPO subscribed 51x on final day
The portion reserved for qualified institutional buyers was subscribed 142.41 times, while the non-institutional or high-net-worth investors’ segment was subscribed 35.47 times. The retail portion was subscribed 5.7 times.
TBO Tek files draft red herring prospectus with Sebi
Funds will be allocated towards fuelling growth, expanding the network of buyers and suppliers and undertaking acquisitions, according to offer documents. Axis Capital, Goldman Sachs (India) Securities, Jefferies India, and JM Financial are the bankers for the IPO.
Piramal Enterprises swings to black in Q2 on loan growth
The company reported a net profit of ₹48 crore in the quarter ended September from a loss of ₹1,536 crore a year earlier after adjusting for the one-time refund of ₹64 crore to investors of the Indiareit PMS as per the Delhi High Court order.
Retail play in listed companies hits a new high
Retail investors – classified as individuals with less than shareholding worth ₹2 lakh in a company – made purchases worth ₹7,596 crore in July-September, according to Prime Database, amid the record-breaking run in the stock market