MARKET SEES
India sees 12% surge in company registrations, 73% jump in LLPs in June
Company registrations in India showed a notable rebound in June, marking a 12% increase compared to the previous year, according to data from the corporate affairs ministry. Limited liability partnerships (LLPs) also surged by 73% year-on-year in June, contributing to the overall growth in business formations. Experts attribute this resurgence to a positive economic outlook, relaxed investment rules, and government initiatives aimed at improving ease of doing business. The robust growth reflects confidence in India's growth potential and economic resilience post-pandemic, despite initial moderation earlier in the fiscal year.
No doubt in India's long term story; don't see much scope for big earnings downgrade: Sanjeev Prasad
So, at this point in time I do not know whether there is much scope of earnings upgrades. Also, keep in mind the fact that in the last few quarters, a lot of earnings growth has come from positive surprises or increase in profitability and margins, not so much as volume growth. And fortunately, in some sectors, we are still not seeing really meaningful signs of volume recovery.
Will tyre stocks see a good ride of momentum going ahead? Pramod Amthe answers
There is a higher probability that either they will be eased out or will be expanded to add up more industries or to that extent more companies to participate in this overall scheme of things, as the stability of the new government seems to be a new attraction for the medium-term capex to come through.
Asia sees cautious open; US stocks buoyed by Trump: Markets wrap
Stocks in Asia show mixed reactions to Trump's increasing chances of winning a second term after surviving an assassination attempt. Market volatility expected due to tariff threats. Federal Reserve Chair hints at possible interest-rate cuts. Investors remain focused on economic and earnings results despite shocking events.
We may see demand shifting towards more premium SUVs going ahead: Shruti Saboo
There is a lot of inventory, as you guys have rightly said, that there is inventory days of 62 to 67 days and earlier what we were seeing was that this inventory was piling up in smaller cars, discounts started coming in smaller cars, but now we are seeing that this is also coming up in SUVs too and inventory days have started to come up on a higher side in SUVs as well.
Ajay Vora expects 16% compounding earnings growth; sees banks and metals doing better this year
“Ajay Vora says overall profit growth for FY25 is expected to come from banks and metals because last year a large part came from autos, but this time, auto as a sector or even IT as a sector is going to be pretty muted. But banks and metals will be contributing in a big way.”
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HSBC raises target price of Titagarh Wagons on strong prospects for passenger rail system orders, sees 10% upside
HSBC raises Titagarh Wagons target to Rs 2,000 due to metro contracts and Indian Railways modernization. Despite 5% Q1 FY25 profit growth, a 28% CAGR shows robust potential. Industry seasonality impacts 16% year-on-year IR's wagon additions. A 45x P/E, JVs, and 74% stock surge strengthen Titagarh's promising outlook.
As monsoon sets in, respiratory, malaria drugs see demand rise
The onset of the monsoon in June led to a significant increase in sales of drugs for respiratory, anti-infective, anti-malaria, and gastrointestinal therapies. According to market researcher Pharmarack, these therapies saw double-digit growth compared to June 2023.
Which pockets will see profits decelerate, remain flattish, or go up in Q1? Pankaj Tibrewal answers
Stock market analyst discusses the outlook on defence stocks and suggests focusing on durables, value retailers, and staple companies for potential growth in consumption over the next 12-18 months. Pankaj Tibrewal says over longer periods, the basics of investing will help navigate any challenges in the market. In the long term, he is positive but will wait for better entry points, and from a bottom-up perspective many of the stocks are in the frothy expensive zone.
Pankaj Pandey on 2 sectors that are likely to see strong Q1 earnings
Raymond specifically, we do not have a coverage. But I think you have very few stocks which can be bought at current levels in real estate given the price appreciation a lot of these stocks have seen. So, some bit of a time correction or price correction is what we are waiting for.
FMCG sector expected to see 7-9 pc revenue growth in FY25, helped by a recovery in rural markets: Crisil
FMCG sector revenue is projected to grow 7-9% this fiscal, driven by rural revival, urban demand, and rising disposable incomes. Crisil Ratings indicates premiumisation will boost margins by 50-75 basis points despite marketing expenses. Rabindra Verma highlights 8-9% F&B and home care growth, and 6-7% for personal care. FY25 will see low single-digit product realisation growth.
AI-focused tech firms see big jump in market cap in June
Nvidia shares rose as much as 27% in June, boosting its market capitalization to $3.34 trillion, before giving up some of their gains later in the month, due to profit booking and concerns over its high valuations.
HCL Technologies to see block deal worth Rs 1,757 crore on Friday
HCL Technologies is likely to see a block deal worth Rs 1,757 crore (approximately $200 million) on Friday, according to a term sheet issued by Citigroup.
Residential real estate at a 15-yr high; commercial may see best ever year: Anuj Puri
Clearly within the residential, we are seeing luxury doing exceptionally well, affordable unfortunately not doing as well and there is not that much supply that is coming in. But cities like MMR, Mumbai, Bangalore, NCR really leading the pack.
Rupee sees range-bound trade against US dollar in morning deals
The rupee traded against the US dollar in early trade, influenced by the equity market and factors like the dollar's strength and crude oil prices.
IPO Calendar: Primary market to see 9 new issues and 11 listings next week in post-election boom
Alongside new IPOs, 11 companies will be listed on the stock market, including Stanley Lifestyles, DEE Development Engineers, and Akme Fintrade. Both DEE Development Engineers and Akme Fintrade's public offerings were oversubscribed, indicating strong investor interest.
All roads lead to Nvidia as tech sees record inflows, Says BofA
Nvidia Corp became the world's most valuable company, driving record inflows into tech funds. Bank of America Corp strategists noted $8.7 billion inflow in tech funds via EPFR Global data, with strategist Michael Hartnett commenting on the impact of Nvidia's success.
Nuvama initiates coverage on Bikaji Foods, sees upside potential of over 21%
Domestic brokerage firm Nuvama initiated coverage on Bikaji Foods, with a target price of Rs 885, as the company has emerged as a heavyweight in the rapidly expanding Indian savoury snacks market.
Aircraft lessor DAE sees China's COMAC breaking Airbus, Boeing duopoly
Airbus and Boeing are the main suppliers of aircraft to airlines, but the European planemaker is struggling to boost production amid record orders and Boeing is under scrutiny from regulators after a mid-air panel blowout on a new plane in January.
Realty sector sees debt sanctions of Rs 9.63 lakh crore during 2018-23
Real estate sector witnessed debt sanctions of ₹9.63 lakh crore during 2018-23, with a potential of ₹14 lakh crore in the next three years, per JLL India and Propstack report.
Uno Minda shares jump 12% as Goldman Sachs sees upside potential of 20%
Uno Minda, a midcap auto stock, surged 12% to reach its all-time high of Rs 1,180. This rally was triggered by a report from global brokerage firm Goldman Sachs, which raised its target price for the stock to Rs 1,350 while maintaining a 'buy' recommendation.
Don't see end of bull market cycle in India for next few years: Ridham Desai
Sensex I think compounds at 12% to 15%, but it will not go linearly up and there will be ups and downs, so there will be periods when the Sensex returns a lot more and then there will be a few occasions when the Sensex is not doing so well.
Cryptocurrency prices on June 17: Bitcoin holds steady above $66,000 as market sees mixed movement
In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, rose to $1.304 trillion. Bitcoin's dominance is currently 54.07%, according to CoinMarketCap. BTC volume in the last 24 hours rose 26.8% to $16.37 billion.
ARCs to see recoveries improve from stressed residential projects
ARC expected to see 5-7% increase in recovery rates of stressed residential projects. Recovery rates to reach 16-18% by March 2025 due to rising prices, demand, and investor interests.
Don't see any material changes in policies going ahead: Rajeev Thakkar
And if we step back what does the election outcome mean for the markets? So, barring the pre-election and post-election for a week, 10 days, people will move on.
Goldman sees India's stocks, bonds and rupee as top emerging market picks
Strong earnings growth is supporting the share market, while the country’s inclusion in international indexes, stronger government finances, and slowing inflation favor fixed income, analysts led by Kamakshya Trivedi, Danny Suwanapruti and Sunil Koul wrote in a note.
Wall Street's faster trade settlement sees some temporary bumps
The transition to faster trade settlements in the U.S. faced bumps despite a mainly smooth switch to T+1 settlement cycle from T+2, mandated by the SEC. Market participants anticipated increased trade failures and hiccups in the securities market.
Emkay sees Nifty at 24,500 by year-end
Manish Sonthalia, chief investment officer at Emkay Investment Managers, suggested investors to follow a multi-cap approach with equal proposition in large-caps and mid-caps to take advantage of a broad-based growth in Indian equity markets.
Derma products market seeing strong growth
Industry data shows emollients, protectives, have grown from Rs 1,390 crore MAT value in April 2022 to Rs 1,892 crore in April 2024. Likewise, sunscreens have grown from Rs 259 crore MAT value in April 2022 to Rs 416 crore in April 2024. MAT refers to Moving Annual Turnover (MAT).
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