The company’s revenue from operations increased 11% year-on-year (YoY) to Rs 4,347 crore, up from Rs 3,915 crore in the same period last year. EBITDA for the quarter increased 13% YoY to Rs 994 crore, up from Rs 880 crore in the same quarter last year. Meanwhile, EBITDA margins rose by 39 basis points to … Read more
Brokerage firm Nuvama has a reduce call on Kotak Bank, while Goldman Sachs and Jefferies have a buy rating on HDFC Bank. Investec has maintained a sell call on PVR Inox.We have collated a list of recommendations from top brokerage firms from ETNow and other sources:Nuvama on Kotak Mahindra Bank: Reduce | Target price: Rs … Read more
Mumbai: Hero FinCorp, the financial services arm of India’s leading two-wheeler maker Hero MotoCorp, will likely file its draft red herring prospectus (DRHP) next month for an initial public offering (IPO), according to investment banking sources. The share sale could be worth ₹5,300 crore to ₹5,500 crore, making it the largest ever public issue by … Read more
Shares of Tata Steel fell 3% in Thursday’s trading session to the day’s low of Rs 168.90 after reporting a 64% decline in its net profit to Rs 611 crore in Q4FY24. The profit was lower by Rs 1,094 crore as compared to the same quarter a year ago and also fell short of D-Street’s … Read more
Brokerage Citigroup maintained a buy rating on RR Kabel, JPMorgan has an overweight stance on RIL, Axis Capital upgraded Indigo to buy and Jefferies maintained a buy rating on Tata Steel. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Citigroup on RR Kabel: Buy| Target Rs 2043Citigroup … Read more
Chris Wood, a global equity strategist at Jefferies, believes that potential changes in the capital gains tax regime for stock market transactions pose a more significant risk to Indian markets than the outcome of the upcoming elections. In his weekly note, ‘Greed & Fear,’ Wood said that a repeat of the BJP-led NDA’s shocking defeat … Read more
Shares of Sun Pharmaceutical Industries fell 5% in Thursday’s trade on BSE to the day’s low of Rs 1,467 even after the company posted a 34% year-on-year (YoY) jump in its Q4 profit to Rs 2,654.6 crore while the revenue rose 10.1% YoY to Rs. 11813 crore in Q4FY24. The board of the company also … Read more
Brokerage firm Bernstein maintained a Market Perform rating on HCL Technologies, Nuvama has a buy rating on BHEL, Jefferies recommended a buy on JB Pharma and Goldman Sachs has a buy rating on Hitachi Energy. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Bernstein on IT sector: … Read more
A boom in tiny initial public offerings in India may soon be followed by larger deals, broadening options for global investors looking to join the nation’s equities frenzy. Citigroup Inc., the top arranger of equity offerings in India this year, sees four to five IPOs of at least $1 billion each over the next year. … Read more
We have collated a list of recommendations from top brokerage firms from ETNow and other sources: CLSA on Delhivery: Underperform| Target Rs 488CLSA downgraded Delhivery to underperform from buy earlier post-Q4 results and slashed the target price to Rs 488 from Rs 600 earlier. The Q4 revenue growth was below expectations. Express parcel revenue declined … Read more