Lenskart Solutions shares jump 7% after Q1 results; Jefferies, Goldman Sachs, 3 others raise target price
Lenskart shares rose after Q1 FY27 profit surged 182% YoY to Rs 228 crore, while revenue grew 34% and EBITDA jumped 61%. Margins also improved sharply, with product margin crossing 70%. Jefferies, Morgan Stanley and Goldman Sachs remain positive, citing strong growth, margin expansion and premiumisation, with target prices implying up to 22% upside.
HAL shares gain 2% after Q1 earnings beat estimates. Nomura, other brokerages hike target price
In the first quarter of FY27, Hindustan Aeronautics showcased a robust 15% rise in net profit, prompting brokerages to adjust their target prices for HAL shares. Notably, Nomura retained its buy rating while upping its target to Rs 6,314. Meanwhile, Motilal Oswal also revised its target to Rs 5,800, attributing this to the impressive quarterly […]
ETMarkets Smart Talk | Maturing AI trade could redirect global capital towards diversified growth markets like India: Ritesh Taksali
Taksali points out that FPIs invested around ₹20,000 crore in Indian equities in July, followed by another ₹12,921 crore in the first week of August. With the Nifty’s trailing P/E now around 20.8x—below its seven-year median and 10-year average—India’s valuation premium has also become more reasonable.
MSCI Rejig: Adani Energy Solutions, Lenskart Solutions make the cut; SBI Cards, Astral to be excluded
Astral Ltd., Balkrishna Industries Ltd. and SBI Cards and Payment Services Ltd. will be removed from the MSCI India Index. Astral and Balkrishna Industries will, however, be moved to the MSCI India Smallcap Index.
Korean stocks rise 22% in 10 days as chip rally regains steam
The benchmark Kospi gained as much as 4.8% on Thursday, extending its gain from a July 30 low to around 22%. Heavyweight memory chipmakers Samsung Electronics Co. and SK Hynix Inc. drove the advance, each jumping more than 5%.
Oil drops on lower demand forecasts despite deadlock in US-Iran talks
Oil prices dipped as demand forecasts for 2026 were lowered due to the U.S.-Israeli war on Iran. Despite supply concerns from the conflict, a surprise build in U.S. crude inventories and stalled talks with Iran are impacting the market, with shipping risks in key straits adding to volatility.
Bank deposits hit decade-high growth as NRI dollar inflows cross $37 billion
Bank deposits saw their fastest growth in nearly ten years by July. Overseas Indians deposited about $37 billion in foreign currency accounts. Bank credit growth also accelerated to its fastest pace since June 2024. This surge was driven by corporate demand and MSME lending programs. India garnered nearly $41 billion in total inflows by July […]
Yotta plans IPO of up to Rs 8,000 cr to fund AI infra push
Yotta Data Services is preparing to file its draft prospectus for an initial public offering. The company aims to raise approximately six thousand to eight thousand crore rupees. These funds will support expanding data centre footprint and AI infrastructure deployment. Yotta recently secured one hundred fifty million dollars in a pre-IPO funding round. This move […]
Global Market Today: Asian stocks rise as rate hike bets ease, oil dips
Asian equities rallied as easing inflation in the United States reduced fears surrounding interest rate hikes. The MSCI Asia Pacific Index reflected this positive sentiment, following the upward trajectory of US markets. Meanwhile, Brent crude oil prices declined, breaking a recent climbing streak. Market participants are particularly focused on the Japanese yen, which is approaching […]
Sebi sees no CAS manipulation, eyes more participation
In a recent statement, Sebi chairman Tuhin Kanta Pandey confirmed that the closing auction sessions showed no manipulation. He linked earlier discrepancies to cautious trading in the newly implemented system. Notably, mutual funds have significantly increased activity in these sessions. Additionally, Sebi is looking into strategies to bolster both participation and liquidity in commodity derivatives, […]