Tata Motors shares fall 5% but brokerages raise target prices after Q1 results
Tata Motors’ shares fell by 4.7% following Q1 results that showed lower-than-expected margins in the passenger vehicles segment. While brokerages like UBS gave a sell call with a target price of Rs 825, others like Nomura and JP Morgan raised their targets. Analysts cited demand moderation and margin pressures as key concerns.
Wealth advisors suggest portfolio clean-up, in favour of largecaps
Wealth managers suggested trimming investments in risky and underperforming schemes as the Nifty hit 25,000. They advised taking profits from high-performing PSU and defense funds, and reviewing schemes that failed to beat their benchmarks. Investors were guided to shift towards large-cap portfolios and gilt funds for more stable returns.
Hot Stocks: Brokerage view on ITC, Sun Pharma, Adani Ports, Zomato and Dabur
Jefferies has maintained a buy rating on ITC with a target price of Rs 585. The 3% growth in cigarette business volume met expectations, and stable taxation suggests continued momentum in the coming quarters. However, other segments fell short in terms of revenues and margins.
Sebi fines JM Financial MF, ex-CEO, others for violations
Sebi fined JM Financial Asset Management, its trustee company, former CEO Bhanu Katoch, and four others ₹2 crores for mutual fund rule breaches. An unusual NAV increase occurred in JM Low Duration Fund due to the sale of DHFL’s defaulted securities. They bought into the schemes during this period, engaging in unfair trade practices.
Q1 results today: Titan among 98 companies to announce earnings on Friday
Numerous companies are expected to reveal their first quarter earnings, including Titan, Hindustan Zinc, and Delhivery. Titan’s performance suffered due to high gold prices and regional competition. Analysts predicted a 6% YoY sales increase but a minor 1% decline in net profit for April-June 2024, highlighting challenges in the jewelry segment.
Oil set to fall for fourth week as demand concerns weigh on sentiment
Oil prices increased on Friday, yet were poised for a fourth consecutive weekly drop, driven by weaker global fuel demand as indicated by recent manufacturing data from the U.S., Europe, and Asia. Concerns about Chinese demand and potential supply disruptions in the Middle East further influenced the market outlook.
Wealth advisors suggest portfolio clean-up, in favour of largecaps
Wealth managers suggested trimming investments in risky and underperforming schemes as the Nifty hit 25,000. They advised taking profits from high-performing PSU and defense funds, and reviewing schemes that failed to beat their benchmarks. Investors were guided to shift towards large-cap portfolios and gilt funds for more stable returns.
FMCG companies pack a punch to defend any downturn
VALUATION COMFORT Top consumer stocks beaten down despite being near 52-wk highs; benign demand to drive interest amid mkt correction
Stocks in news: Titan, Hindustan Zinc, ITC, SpiceJet, Zomato
Sensex reached a new peak, closing 126 points higher, and Nifty crossed the 25,000 mark for the first time. Titan, Hindustan Zinc, ITC, Tata Motors, Zomato, Adani Enterprises, and SpiceJet shared their quarterly results. ITC reported a small rise, while Tata Motors and Adani Enterprises showed significant profit growth. SpiceJet canceled flights due to operational […]
Japanese stocks tumble, selloff in tech extends: Markets wrap
Japanese stocks dropped for a second day amid growing expectations of further rate hikes by the central bank. Asian equities also declined, following Wall Street’s losses due to weakening US economic data. The broad Topix index in Japan dropped more than 4%, while tech stocks like AI chipmaker SK Hynix fell sharply.