Systematix initiates coverage on Patanjali Foods with buy rating, sees 24% upside
Brokerage Systematix has initiated coverage on Patanjali Foods with a ‘Buy’ rating and a target price of Rs 2,259, indicating a 24% upside from the previous closing price of Rs 1,828.50 per share. Systematix highlighted Patanjali’s aggressive plans in palm oil plantation and its strategy to capitalize on premiumization trends in its food business.
From transferring stocks to gifting mutual funds, 5 ways to secure your sister’s future this Raksha Bandhan
Gifting financial instruments such as stocks, mutual funds, gold, cash, and fixed deposits were highlighted as great ways to secure a sister’s future during Raksha Bandhan. These gifts offer various benefits, including tax advantages and potential appreciation. The article also explained how to transfer shares online and offline, along with utilizing platforms like Zerodha for […]
IRCTC will maintain and grow EBITDA margin this year: Sanjay Kumar Jain
Sanjay Kumar Jain, Chairman & MD of IRCTC, reported on the company’s performance. IRCTC operated 48 Vande Bharat trains out of 117 prepaid trains, significantly contributing to revenue. The e-catering and rail-based tourism packages saw exponential growth. Capacity for Rail Neer was increased by new plants. Profit margins saw a notable improvement, along with a […]
Speed machine! Ola Electric shares jump another 10% today, up 92% from IPO issue price
Ola Electric Share Price: Ola Electric Mobility’s shares rose by 10%, reaching a 52-week high of Rs 146 on Monday, reflecting a 92% increase from its IPO price. HSBC set a target price of Rs 140, citing regulatory support and cost reduction. In the June quarter, revenue grew by 32% YoY, while losses widened to […]
Forcas Studio IPO: Check issue size, price band, GMP among other details
Forcas Studio opened its SME IPO to raise Rs 37 crore from August 19 to 21, 2024. Priced at Rs 77-80 per share, the offer includes 46.8 lakh fresh equity shares. Proceeds will be used for warehouse upgradation, debt repayment, working capital, and other corporate purposes. Share listing on NSE SME platform is anticipated.
Hindustan Zinc shares fall 20% in a week, OFS opens for retail investors
Hindustan Zinc Share Price: Hindustan Zinc’s shares fell by around 5%, marking a 20% drop over the past week, as its offer for sale (OFS) opened for retail investors. Non-retail investors had oversubscribed the offered shares. Vedanta is planning to demerge its operations to manage refinancing risks and lessen its dependence on dividends from Vedanta […]
Technical View: Strong momentum could take Nifty past 25,000
Technical analysts noted a strong bounceback in Nifty, predicting further upward momentum. Stocks such as Vedanta and Hindustan Copper formed bullish setups. Investors are advised to focus on IT and FMCG sectors, while considering partial profits in pharma. Positive trends were also seen in metal and banking sectors.
Chinese stock investors lose a key indicator to gauge sentiment
Starting Monday, China’s stock exchanges ceased providing daily data on overseas fund flows to curb market volatility and focus on long-term indicators. The CSI 300 Index faced significant declines this year due to disappointing earnings and insufficient policy support. This decision highlights continued foreign fund withdrawals and a bleak outlook for economic recovery.
Price fall, tax changes make Gold ETFs attractive; more so as SGBs seen on hold
Following a customs duty reduction and a fall in gold prices, investors were drawn to gold ETFs and funds. The budget announcement made long-term gold investments more tax-efficient, and with no new sovereign gold bond issues expected, experts recommended a 10% portfolio allocation. Gold remains a hedge against inflation and provides diversification.
EU banks expect India bond trades to go on
Four European banks expected permission from their national regulators to continue trading with India’s Clearing Corporation despite an imminent deadline. Recent communications between Indian and European authorities indicated potential resolution to the regulatory dispute that started when ESMA de-recognised the Clearing Corporation in October 2022, impacting major bond and derivatives trading.