GOLDMAN SACHS Q4 EARNINGS
5 world market themes for the week ahead
The upcoming week promises significant market activity with pressure on Joe Biden's election prospects, anticipation of a Fed rate cut, key Q2 earnings reports, an ECB meeting, and the unveiling of the UK legislative agenda by King Charles. Analysts and investors should brace for developments from the U.S., Europe, and China that could influence global markets.
Top startup and tech stories this week
ETtech Unwrapped is packed with the most important stories that we covered this week. Here’s a quick recap.
All that SaaS; AI woes
Happy Friday! Goldman Sachs is likely to increase its stake in SaaS startup MoEngage. This and more in today’s ETtech Morning Dispatch.
Titan shares fall 4% as weak Q1 update leads to target price cuts
Titan Share Price: Titan Company's shares dropped 4% on Monday due to lower-than-expected business growth, prompting target price cuts from global brokerages. The company reported varied performance in different divisions, with challenges like high gold prices affecting consumer demand.
Block deal: Goldman Sachs Funds sells nearly 48 lakh shares for Rs 50 crore in Restaurant Brands Asia
Goldman Sachs sells additional stake in RBA, the second within two weeks. On June 14, the firm sold shares worth Rs 43 crore at Rs 105.53 each, a 1.30% discount.
Industrials strong, but be careful about valuations: Hiren Dasani of Goldman Sachs Asset Mgmt
"Emerging market equities, as an asset class, are not seeing inflows. They have seen outflows. The US is doing much better than the broader emerging market. The other dynamic is there is also a very strong AI (artificial intelligence)-driven theme that is driving the markets like Taiwan, which is a global supply chain for the entire AI-related and semiconductor segments"
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MapMyIndia shares rally 37% in 2 days. Here's why Goldman recommended this stock
CE Info Systems shares surged 37% on BSE in response to a 'buy' rating from Goldman Sachs, targeting Rs 2,800.
Goldman Sachs boosts S&P 500 target on upbeat profit outlook
Goldman Sachs Group Inc. raises S&P 500 year-end target to 5,600, reflecting optimism for earnings growth and the US economy.
Block deal: Goldman Sachs Funds sells 40.6 lakh shares in Restaurant Brands Asia for Rs 43 crore
Goldman Sachs Funds - Goldman Sachs India Equity Portfolio, which sold its stake on Friday, held 1,10,12,628 shares, representing 2.22% of Restaurant Brands Asia as of March 31, 2024, according to BSE shareholding data.
RBI unlikely to cut rates; Sustained vigil on inflation expected
RBI to hold rates on strong GDP growth. Inflation within target range but food inflation high. RBI cautious on weather impact.
India’s near-8% growth gives Modi a boost as elections end
India is expected to report close to 8% economic growth for the fiscal year ending in March, boosting Prime Minister Modi’s government as elections conclude. The growth in the first three months is predicted to be 7%, with the full year reaching 7.9%. The quarterly GDP release is eagerly awaited.
Hot Stocks: Brokerage view on LIC, Suzlon Energy, Inox Wind and Hindalco
Investec brokerage firm upheld its buy recommendation for Hindalco, while Nuvama initiated coverage on Inox Wind and Suzlon Energy with buy ratings, respectively. Goldman Sachs has given LIC a neutral rating following its Q4 results.
India leads in electric vehicle sales amid global slowdown
Global electric vehicle sales growth faces challenges like capital costs and election uncertainty. US EV sales outpaced Europe, where EV sales declined due to Easter holidays. Germany saw a 29% drop in EV sales, while India's EV market share doubled to 4% in 2023.
US stocks bounce back ahead of long weekend
The Nasdaq index surged over 1% and was heading for its fifth consecutive week of gains, while the Dow Jones Industrial Average faced a potential first weekly loss in five after hitting a two-week low on Thursday. Trading activity is expected to be muted as the U.S. equity market is closed on Monday for Memorial Day.
ITC share price targets go well beyond Rs 500 after Q4 results. Should you buy, sell or hold?
ITC's Q4 results disappoint investors, shares drop nearly 1% to Rs 437.85. Brokerages raise target prices up to Rs 540. Citi sets target at Rs 515, warns of regulatory impact. Morgan Stanley targets Rs 506, CLSA at Rs 470. Motilal Oswal sees defensive potential, Kotak trims EPS, targets Rs 465. JM Financial holds highest target of Rs 540, emphasizes on cigarette volume growth and capital allocation strategy for rerating.
Hot Stocks: Brokerage view on BSE, Indigo, ITC; Goldman downgraded Gujarat Pipavav
Goldman Sachs maintains buy on ITC with a target of Rs 480, downgrades Gujarat Pipavav to neutral, raising target to Rs 220. BofA Securities retains buy on InterGlobe Aviation, target Rs 4900. Investec initiates buy on BSE, target Rs 3400, citing market share gains and attractive valuations.
Gold retreats from near record-high levels as rate-cut bets ease
Shares of global miner BHP Group fell more than 3%, a day after smaller rival Anglo American rejected its third takeover proposal and agreed to a one-week extension for the deadline to make a binding offer.
Zee Entertainment Enterprises shares rise 3% as firm swings back to black in Q4
Zee Entertainment Enterprises experienced a nearly 3% increase in its share price to Rs 144.4 during Tuesday's trading session on the BSE, following the company's announcement of a profit of Rs 13 crore in the March quarter of FY24. This marks a significant turnaround from the loss of Rs 196 crore reported in the same period last year.
ZEE Entertainment shares rally 5% after Q4 results. Should you buy, sell or hold?
ZEE Share Price: ZEEL swung back to profit in March quarter against loss a year ago. Its total income in the reporting quarter, too, increased 3% YoY to Rs 2,185 core. Goldman Sachs sees partial recovery in revenues as a positive sign.
4 sectors that can be beta plays with more premiumisation opportunities: Harsh Gupta Madhusudan, NSE Gift City
Harsh Gupta Madhusudan analyzes the influence of FIIs on the Indian market and the evolving narrative regarding BJP's election chances. He also delves into the significance of voting patterns and the direct correlation with FOMC's rates and the federal funds rate.
On longer-term structural side, Goldman Sachs overweight on India & Indonesia: Sunil Koul
Sunil Koul of Goldman Sachs says FIIs are shifting focus towards China, causing outflows from India. FII allocations in India are still at 11-year low. However, strong Indian fundamentals are counterbalancing the outflows and there is a positive outlook post-election. DIIs are stabilising the market as emerging market appear attractive for investment.
Dr Lal PathLabs shares zoom 8% after Q4 results. Should you buy or sell?
Dr Lal PathLabs saw an 8% surge in shares to Rs 2,539.65 on the BSE following a 51% YoY increase in net profit to Rs 86 crore for Q4FY24. Analysts have varying opinions, with Kotak and JM Financial maintaining positive outlooks, while Goldman Sachs remains cautious.
Tata Motors shares fall 9% on downgrades after Q4 results. Should you buy, sell or hold?
Shares of auto major Tata Motors on Monday fell up to 7% to the day's low at Rs 975 on BSE after three major global brokerages Goldman Sachs, Morgan Stanley and Nomura downgraded the Nifty stock while Citi suspended rating on Tata Motors following weaker outlook for FY25
TVS Motors shares rise 6% after Q4 results. Should you buy, sell or hold?
TVS Motors Share Price: Shares of TVS Motor Company surged nearly 6% on Thursday on BSE to the day’s high of Rs 2,121.30 as the company reported an 18% year-on-year (YoY) increase in standalone net profit to Rs 485.43 crore for the fourth quarter ended March 31, 2024.
How quick commerce is rewriting the rules of retail in India
Quick commerce, or super-fast deliveries, is becoming increasingly popular among millennials and Gen Z, with companies delivering various items to doorsteps in no time. Quick commerce makes up about 5-6 per cent of a household's grocery spending, with platforms like Blinkit valued at around $13 billion. It is mostly popular in big cities but is also gaining traction in places like Vizag, Nagpur, Kochi, Jaipur, and Lucknow.
Titan shares tank 7% post Q4 results. Should you buy, sell, or hold?
Titan Share Price: Titan's shares plummeted by nearly 7% as it reported a 7% YoY increase in standalone net profit at Rs 786 crore. Despite a 17% YoY growth in net sales to Rs 10,047 crore and a dividend recommendation of Rs 11 per share for FY24, EBIT margins dipped.
Some more consolidation likely this week; 4 top buy ideas now: Sanjiv Bhasin
Sanjiv Bhasin advises on market recovery, consumer stock investment, and potential buys such as Rattan Power, Coal India, Coforge, and Bajaj Finserv. He also highlights FII impact and Kotak Bank's analysis. Bhasin says: "We have an accumulate on Kotak Bank and we think this is a very good time as most of the negatives are priced in, the positives will be outweighed but time will have to be given over here."
Infosys Q4 earnings; layoffs at Good Glamm group
India’s second-largest IT company Infosys posted upbeat results for the fourth quarter. More numbers in today’s ETtech Top 5.
Goldman Sachs Q1 Results: Profit jumps 28% on investment banking strength
Goldman Sachs profit rose 28% in the first quarter, buoyed by a recovery in debt underwriting and dealmaking that boosted its investment banking unit, it reported on Monday.
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