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Market Trading Guide: IEX, RailTel among 5 stock recommendations for Wednesday
Benchmark equity indices Sensex and Nifty ended almost flat on Tuesday after a record-breaking rally as investors preferred to remain on the sidelines awaiting further triggers. After trading in the positive territory for the most part of the session, the 30-share BSE Sensex declined 33.49 points to settle at 76,457 due to fag-end selling. In a volatile trade, the NSE Nifty ended marginally up by 5.65 points to 23,264.85. "Nifty is currently placed at the hurdle of 23,400-23,500 levels (1.382% Fibonacci projection), weekly hanging man and the opening downside gap of 4th June, which are weighing high for the market to sustain the new all-time highs. Hence, there is a possibility of a dip in the market. Immediate support is at 23,050 levels," said Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities. Here are 5 stock recommendations for Wednesday:
A quarter of hits & a few misses; and other top tech, startup stories
Welcome to another edition of ETtech Unwrapped – our weekend newsletter. This is Pranav Mukul in New Delhi. This week we’ve wrapped up another compelling quarterly earnings season for listed new-age companies from Zomato and Delhivery to Paytm and PB Fintech.
A Nifty move above 19,900 can take it to new highs: Analysts
The breakout zone, coinciding with a bullish gap at 19,580-19,500, is viewed as robust support, and prices also defended the 19,700 level during the week, serving as immediate support.
Titan remains a good bet for long term: Mayuresh Joshi
It might be the case but looking at the update that most gold and jewellery companies have given including the likes of Titan and Kalyan, I think the numbers still seem to be sustaining, at least as far as Quarter one or the first half is concerned.
Vedant Fashions OFS subscribed 2.24 times
The promoters of Vedant Fashions, owner of ethnic wear brand Manyavar, are selling up to 9.88% stake or 2.40 crore company shares through an OFS. Retail investors can bid for the OFS on Friday, May 19, above the indicative price of ₹1,206.35. Shares of Vedant Fashions ended flat at ₹1,248.85.
Manyavar promoters to launch OFS
The base issue comprises up to 1.70 crore shares of the company representing 7% of the total equity, with a green shoe option of 69.88 crore shares representing 2.88% stake.
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Apt time to buy some of the pharma stocks: Manish Sonthalia
In a rising interest rate scenario, all these things are bound to happen. We are coming out of a regime where there was zero cost of capital two years ago. And today, cost of capital is significantly higher than those levels. So, if your denominator is expanded, your valuations will obviously cut.
Stock picker’s market: Porinju Veliyath’s checklist for buying a stock
Investors should never forget that whether a fancied investor bought it, whether a highly campaigned IPO is coming up, in any case, some traders or gamblers could make money in between but normal investors stick to valuation, the future of the business, how the company has been managed and how it may get managed or is there any change, is there the symptoms of change in the culture of management, sharing of wealth with minority shareholdersm says Porinju Veliyath
Raymond has big plans for big fat Indian weddings
Raymond has seen a strong recovery post Covid. It also entered the real estate business using its land parcel in Thane and has started other joint development projects in Mumbai. These projects have a net positive cash flow thanks to land ownership and delivery before schedule.
YES Bank could be an outperformer over the next few quarters :Dipan Mehta
So you need to focus on companies which are in verticals where there is a lesser chance of spending cuts. It could be automobiles, design led, technology stocks and I think that is where the opportunities are in the IT sector.
Why Daljeet Singh Kohli continues to put faith in Gland Pharma and Divi’s Lab
“Gland Pharma which after the results, showed 15% decline in one single day. But I think that was more to do with some sentiments on Chinese promoters or something of that kind. Nobody knows the actual reason. In fact, the company has shown a quarter-on-quarter good recovery of almost 20%. ”
Vedant Fashions faces rating cuts after Q1 nos on punchy valuations
Punchy valuations drive our downgrade to sell, said Kotak Institutional Equities, which has a target of Rs 1,075 for the stock from Rs 1,000 earlier. This is even as the brokerage has raised its FY2023-25E EPS estimates by 5-10 per cent on account of strong momentum in wedding demand and higher margin forecasts.Edelweiss has downgraded Vedant Fashions
Can Vedant Fashion be the next Titan or Page Industries? Manish Sonthalia answers
“My sense is these guys have very high gross margins of around 75% and EBITDA margins of 40%. One just needs to have a handle on growth and going into the near future and even the distant future, a lot of terminal value is still sitting because 75% of the market is unbranded.”
We remain cautious; trimming holding in these 4 sectors: Dinshaw Irani, Helios India
“Quite a few sectors are impacted by input price pressures and obviously the demand is not picking up. We are short term in those sectors: autos is the obvious one, then consumer durables is another one, paints is another one so these are the few that we have shorted across the board there. In the domestic portfolio, we have been trimming back out IT exposure."
Vedant Fashions makes tepid debut on stock exchanges, lists at 8% premium
Vedant Fashions IPO was open for subscription between February 4-8. The company had sold its shares in the price band of Rs 824-866 apiece.
Should you buy Vedant Fashions after decent listing pop?
Shares of Vedant Fashions scaled an intraday high of Rs 975.30 on BSE, extending the total gains to 13 per cent over the issue price.
Vedant Fashions to list on stock exchanges tomorrow: Here's what grey market is signalling
In the grey market, Vedant Fashions is commanding a premium of Rs 20 over its issue price, which is merely 2 per cent higher than its issue price of Rs 866 apiece.
Vedant Fashions to list on exchanges on Wednesday
Based on the upper end of the IPO price band of Rs 866 a share, the company's market cap stands at around Rs 21,000 crore.
Vedant Fashions IPO subscribed 21% on Day 2 of offer
The initial public offering (IPO) is purely an offer-for-sale of 3,63,64,838 equity shares by the promoters and existing shareholders.
Vedant Fashions IPO opens: Is it the right fit for your portfolio?
Vedant Fashions is selling shares in the range of Rs 824-866 apiece in the IPO, which is open till Tuesday, February 8.
Manyavar-owner Vedant Fashions collects Rs 945 cr from anchor investors ahead of IPO
Government of Singapore, Monetary Authority of Singapore, Fidelity, Nomura, Abu Dhabi Investment Authority, Morgan Stanley Asia (Singapore) Pte, BNP Paribas Arbitrage and Societe Generale are among the anchor investors.
Vedant Fashions IPO opens tomorrow: Can tight pricing, low GMP spoil the look?
Most analysts are positive on the issue, while some advise caution. They see its market leading position, growing Indian wedding and celebration wear market and strong supply chain management as positives for the company.
Vedant Fashions IPO: All you need to know about the issue
The price band for Vedant Fashions IPO has been fixed at Rs 824-866 per share.
Vedant Fashions IPO opens on Feb 4, check price band and other details
Investors can bid for a minimum of 17 equity shares and in multiple of 17 thereof. The IPO can be subscribed till February 8, Tuesday.
Aditya Birla Fashion to acquire 51% stake in retail firm of designer Shantanu & Nikhi
Finesse sells ethnic apparel, footwear and accessories, with annual sales of Rs 35 crore.
Traditional apparel is becoming a part of daily wear
Premium merchandise that was visible only on catwalks and bridal scenes a few years ago is becoming mainstream and is being worn daily.
PE firm Kedaara Capital acquires 10% in ethnic brand Manyavar's owner
The valuation of Vedant at Rs 4,000-4,500 crore is almost at par with that of Fabindia when it sold a stake to Infosys co-founder Nandan Nilekani last year.
Manyavar brings traditional attire back into fashion
The retailer has then been more aggressive, adding nearly two stores every week on average for the past three years, and now has more than 400 doors.
Manyavar charts its way to markets in US & Europe
Manyavar's Managing Director Ravi Modi said he was targeting 100 Mohey stores by the end of the next financial year.
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