Ashok Leyland expects its M&H CV volumes to grow by 8-10%, and LCVs by 4-5% in FY24 following their second-quarter results. The management also anticipates achieving a double-digit EBITDA margin, targeting mid-teens in the medium term. The share price of Ashok Leyland has surged over the last year, gaining 1.04% in the last five days, […
Global trends to dictate movement in markets this week amid lack of domestic triggers: Analysts
Stock markets will be largely driven by global trends in the absence of any major domestic triggers this week, say analysts. The trading activity of foreign investors, global crude oil prices and rupee-dollar movement will also influence market movement, they said. “Anticipating a period of consolidation in the absence of clear global cues, the mar
Softbank pares 1.1 pc stake in Zomato worth Rs 1,128 cr
Japanese conglomerate Softbank on Friday divested a 1.1 per cent stake in online food delivery aggregator Zomato for Rs 1,128 crore through an open market transaction.Following the stake sale, shares of Zomato fell 1.27 per cent to close at Rs 120.15 apiece on the NSE. Invesco Mutual Fund (MF), Sundaram MF, Edelweiss MF, ICICI Prudential […]
UltraTech Cement’s new acquisition boosts bullish outlook, Jefferies recommends Buy with 11% upside target of Rs 9700
Jeffries sees 11% upside potential in India’s largest cement producer, UltraTech Cement’s stocks following their acquisition of Kesoram Industries and has recommended a buy with an upside target of Rs 9,700. UltraTech Cements nodded to acquire Kesoram Industries’ cement assets in a share-swap deal for an enterprise valuation of Rs 7,600 crore, whic
Mcap of seven of top-10 most valued firms added Rs 3.04 lakh crore; HDFC Bank, LIC biggest gainers
The combined market valuation of seven of the 10 most valued firms climbed Rs 3,04,477.25 crore last week, with HDFC Bank and LIC emerging as the biggest gainers amid an overall optimistic trend in equities. Last week, the BSE benchmark rallied 2,344.41 points or 3.47 per cent. On Friday, the 30-share BSE Sensex rose 303.91 […]
Jefferies Maintains ‘Buy’ Rating on PI Industries Despite Valuation Concerns, Cuts Target to Rs 4,120
Jefferies has maintained its ‘Buy’ recommendation on PI Industries, albeit with a revised target price of Rs 4,120 per share, citing valuation concerns. Despite the adjustment in the target price, Jefferies remains optimistic about the company’s prospects, underscoring key growth drivers and strategies outlined by the innovator. PI Industries, an i
Market to focus on macro data, global trends: Analysts
Global trends, macroeconomic data, and the outcome of the US Fed policy meeting are the major factors that will drive the movement in the domestic equity markets this week, analysts said.”In the upcoming data-centric week, the focus will be on crucial releases, including inflation data from India and the US. Indian inflation is expected to [&hellip
Alpex Solar files DRHP with NSE Emerge
Alpex Solar, India’s leading manufacturer of solar systems, has submitted its Draft Red Herring Prospectus (DRHP) with NSE Emerge. The offering comprises a fresh issuance of 64,80,000 equity shares with a face value of Rs 10 apiece. The company has appointed Corporate Capital Ventures as the Book Running Lead Manager, and Skyline Financial Services
Tis’ the season to be jolly! Take a look at how India and rest of the world prepped for Christmas 2023 – See Pictures
1/14 Ho! Ho! Ho! Christmas Day is finally upon us, and with it, the whole world has come alive with bright lights. Originating from a Christian tradition and marking the birth of Jesus Christ, this festival is observed every year on December 25. The term ‘Christmas’ is rooted in Old English as Cristesmæsse, signifying the […]
IndusInd Bank, Suzlon, Paytm likely top entrants of MSCI global index
In the upcoming November 2023 rejig of the Morgan Stanley Capital International (MSCI) Global Standard Index, market experts anticipate the addition of IndusInd Bank, Suzlon Energy, One 97 Communications, APL Apollo and Persistent Systems along with others. According to a research report by Nuvama Alternative & Quantitative Research, IndusInd B