Kotak retains sell rating on HPCL, IOC & BPCL, estimates up to 33% slide

April 4, 2024

Kotak Institutional Equities expressed concerns over OMCs’ capex plans due to limited pricing freedom. Government’s petrol and diesel price cut, along with rising crude oil prices, may impact energy stocks like HPCL, IOC, and BPCL.

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Tata Motors launches tender offer for Iveco Group; deal values company at €3.82 billion

Tata Motors has launched a €14.1-per-share cash tender offer for Iveco Group, valuing the Italian commercial vehicle maker at €3.82 billion. Backed by Iveco’s largest

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ITC’s tobacco business is going cheap but Kotak Institutional Equities thinks market has it wrong

Kotak Securities estimates ITC’s tobacco business is valued at just 11X forward earnings, suggesting potential undervaluation. The brokerage sees stronger growth in non-tobacco businesses and

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