UBS resumes coverage on Reliance Industries with ‘Buy’ rating, sets target price at Rs 1,750
UBS resumed coverage on Reliance Industries with a ‘Buy’ rating and a Rs 1,750 target, citing strong prospects in Jio, retail, and new energy. The brokerage expects value unlocking across business segments, with earnings growth and sector-leading multiples supporting long-term re-rating potential for the stock.
Sun Pharma shares slip 3% after BofA downgrade on premium valuations
Bank of America downgraded Sun Pharma stock to ‘underperform’ from ‘neutral’, citing risks to premium valuations and slower speciality execution. The brokerage cut its target price, flagging concerns over Ilumya’s Medicare exposure, pricing pressures, and limited earnings visibility despite strong initial performance.
Ashish Kacholia-backed Vikran Engineering IPO opens for subscription; GMP at 21%. Should you bid?
Vikran Engineering’s Rs 772 crore IPO opened for subscription, featuring a fresh issue and an offer for sale, with strong GMP indicating investor interest. The company, an EPC player in power, water, and railway sectors, plans to list on BSE and NSE. Proceeds will fund working capital and general corporate needs, supported by positive analyst […]
LGT Business Connextions shares to list today. Check GMP ahead of debut
LGT Business Connextions Ltd. is set to debut on the BSE SME platform on Tuesday, August 26, with expectations of a flat listing as its grey market premium remains at the issue price of Rs 107. The IPO, which closed on August 21 and was subscribed 1.25 times, aims to utilize the Rs 28.
Fund Manager Talk | UTI AMC’s Amit Premchandani explains why FII selling isn’t the full story for markets
Despite foreign investor concerns, UTI AMC’s Amit Premchandani sees value in Indian equities, emphasizing valuations and earnings quality over short-term flows. He favors large caps, BFSI, healthcare, and autos, anticipating growth from policy measures and sector-specific drivers. Premchandani also highlights the contrarian potential of the IT sector, citing attractive valuations and potential for growth recovery.
Dollar drops after Trump fires Fed’s Cook
The U.S. dollar weakened after President Trump removed Fed Governor Lisa Cook, citing mortgage fraud allegations, raising concerns about the Fed’s independence. This move intensified worries about political influence on monetary policy, impacting Treasury yields. Other currencies like the euro and yuan saw gains amidst political developments and stock market rallies.
HDFC Bank shares in focus as stock to trade ex-bonus for 1:1 issue
HDFC Bank’s shares are in focus as August 26 marks the record date for its first-ever 1:1 bonus share issue. Investors holding the stock on Monday qualify to receive one additional share for each share owned. This move signals management’s confidence and rewards investors, following a Q1FY26 report of a 12% year-on-year standalone net profit […]
Wall Street ends down as traders focus on Nvidia, Fed after last week’s rally
Wall Street experienced a downturn on Monday as investors analyzed the U.S. interest rate outlook and awaited Nvidia’s earnings report. Friday’s rally, fueled by hints of a potential rate cut from the Federal Reserve, gave way to cautious trading. Upcoming inflation and jobs data are crucial, influencing expectations for Fed action.
Asian stocks to slip as inflation clouds Fed cuts
Asian equities are poised to decline, mirroring Wall Street’s downturn, as investors await a crucial US inflation report that could influence the Federal Reserve’s rate cut decisions. Concerns linger about the pace of potential rate reductions amid mixed signals from the labor market and persistent inflation.
Hedge funds flip on solar and start betting against oil
Hedge funds are shifting their energy strategies, moving away from shorting oil stocks, a dominant position since 2021, and reducing short bets against solar stocks. This reversal is driven by concerns about oil supply and demand, coupled with optimism for clean energy. Economic slowdown fears and rising oil inventories contribute to skepticism towards the oil […]