Mahindra & Mahindra’s (M&M) operating performance in 2QFY24 fell slightly short, with Ebitda at Rs 30.7 billion compared to the estimated Rs 32 billion. However, the adjusted PAT surpassed expectations at Rs 34.5 billion. This outperformance can be attributed to better-than-expected other income, driven by higher dividends. We believe a rel
Oil India shares strain following Q2 Results; Should you buy, hold or sell the stock?
The share price of State-run explorer Oil India tanked 4.28% to Rs 297.30 a day after the company reported a drop of 80% in the second quarter of FY24 as the company set aside Rs 2,363 crore for an ongoing litigation. The company’s profit for Q2FY24 fell to Rs 325 crore compared to Rs 1,721 […]
India Shelter Finance to launch Rs 1,200-crore IPO on Dec 13
Affordable housing finance company India Shelter Finance on Friday fixed a price band of Rs 469-493 a share for its Rs 1,200-crore initial public offering (IPO). The maiden public issue will open for subscription from December 13-15, and the anchor book will be open for one day of bidding on December 12, according to a […]
‘India’s great consumption story will attract investors’
The US Federal Reserve’s recent dovish stance may lead to rate cut in the first quarter of 2024, believes Andrew Holland CEO, Avendus Capital Alternate Strategies. He tells Siddhant Mishra that India’s consumption story will continue to drive earnings upgrades. Excerpts:How do you see the markets in 2024?Our view is that the US Federal Reserve [&he
Can gold yield Diwali delights for investors?
By Bhavik Patel Gold investors are happy this Diwali as gold has given approximately a return of around 18.5% from last Diwali till now. There were many factors contributing to the strong return in gold ranging from central bank buying to the Middle East conflict between Israel and Hamas. The main expectation for gold rally […]
Stocks to watch: ONGC, Coal India, Glenmark Pharmaceuticals, SAIL
Stocks in Focus: GIFT Nifty traded up 65.5 points or 0.34% at 19555, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously on Sunday, the benchmark equity indices closed with gains during the Muhurat trading session on the auspicious occasion of Diwali 2023. The NSE Nifty 50 gained […]
Nifty support seen at 19,329, Sensex eye to 65,630: All eyes on rupee ahead of RBI Policy decision
By Anand James Nifty having taken support 19329, the recent reaction low on Friday, a buy on dips mode is in play, which should pacify the nerves of those worrying about a dip after Muhurat trading day. Going forward, we expect 19170 to hold in the event of extended dips, with intermediate support at 10d […]
Your Money: Rate cuts coming, but how soon?
By Joydeep Sen The US FedERAL Reserve meeting on December 13, 2023 —where it decided to maintain the Fed rate — was perceived as a pivot, with widespread ramifications on markets all over the world. A report called Summary of Economic Projections is published in every alternate meeting of the Federal Reserve. The median of […]
Stocks to Watch: Tata Technologies, ICICI Bank, Fedbank Financial Services, Gandhar Oil Refinery, UltraTech Cement
Stocks in Focus: GIFT Nifty traded flat at 20,105 down merely 0.08%, indicating a tepid opening for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 soared 206.90 points or 1.04% to settle at 20,096.60, while the BSE Sensex jumped 727.70 points or 1.10% to 66,901.91. “Investors […]
Jefferies maintains ‘Buy’ on Zomato, sees 32% upside amid speculations on Shiprocket deal
Jefferies maintained a buy call for Zomato with target price of Rs 165. The report says that speculations surrounding a potential deal with Shiprocket, although Jefferies expresses skepticism about the likelihood of such an agreement. The company has reportedly denied any ongoing negotiations. Zomato holds a 5% stake in Shiprocket following an inve