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Fitch assigns 'BBB+' rating on Larsen & Toubro; outlook stable
The company's strong market position as a leading global engineering and construction firm, combined with above-average profitability and solid revenue visibility, is reflected in its ratings. The credit rating agency noted that the stable outlook indicates the company will maintain comfortable leverage, supported by sustained EBITDA growth and prudent financial management, despite higher growth investments.
These 8 bank stocks can give 20-40% returns in 1 year, according to analysts
Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.
Stock Radar: GHCL breaks out of Triangle Pattern, eyes fresh 52-week high
GHCL, a small-cap chemical stock, hit a 52-week high in September 2023 but subsequently declined. After bottoming out in March 2024, the stock regained momentum but failed to sustain it. It witnessed resistance above 500 levels but found support above 50 and 100-DMA in May and June, respectively, on the daily charts. In terms of price action, the stock is now trading well above most of the crucial short- and long-term moving averages such as 5,10,30,50,100, and 200-DMA — a positive sign for the bulls.
HDFC Bank's weight may go up in MSCI index as FII holdings drop below 55%; inflows up to $4 billion likely
HDFC Bank's FII shareholding dropped to 54.83% in the June quarter, sparking speculation of a potential weight increase in the MSCI EM Index. This could trigger significant inflows, according to a Nuvama note. The bank's foreign investment ceiling remains at 74%.
Technical Breakout Stocks: Here’s how to trade JK Paper, Solar Industries and Godrej Agrovet on Wednesday
The Indian stock market failed to hold the momentum and closed marginally in the red on Tuesday as traders preferred to book profits at higher levels.
Stock Radar: Hindustan Unilever could hit fresh record high in July series; here’s why
Hindustan Unilever is poised for growth, supported by strong technical indicators and positive derivatives data. With potential for fresh highs, the stock is showing resilience after a short correction and is expected to perform well in the July series.
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Stock Radar: TCS showing signs of bottoming out; likely to reclaim 4,000 level
The IT stock hit a high of Rs 4,254 on the S&P BSE Sensex on March 18, but experienced a subsequent decline, reaching levels around 3,500 points. A rebound followed, with the stock reaching a low of approximately 3,600 points on June 4, 2024. A steady rise ensued, propelling the stock to reclaim its 50-day moving average on the daily charts — a significant technical level. A buy signal generated by the Supertrend indicator on June 27, 2024, further suggested that the upward momentum was likely to continue.
Kotak Equities initiates coverage on JB Chemicals with a target price of Rs 2,025
“Having primarily grown organically until FY2022 and later on aided by benefits from acquired brands, JB has handsomely outperformed the IPM in the past decade by ~600 bps and currently ranks 22 in the IPM,” said Alankar Garude, Analyst at Kotak Equities.
Hot Stocks: 3 stocks that may give returns between 15-31%
A look at some of the latest stock recommendations by analysts. These stocks are expected to return between 15% and 31% as per analysts’ price targets.
SAMHI Hotels block deals: Morgan Stanley, Abu Dhabi Investment Authority buy shares worth Rs 79 crore
Morgan Stanley Asia Singapore Pte acquired around 31 lakh shares, while ADIA purchased 11.35 lakh shares. Together, their combined investment amounts to Rs 79 crore.
Axis Securities initiates coverage on Inox Wind, sees upside potential of 30%
Domestic brokerage firm ICICI Securities initiated coverage on Inox Wind (IWL) with a target price of Rs 185 stating that the company is well-positioned to benefit from the tailwinds in the wind sector.
Technical Breakout Stocks: How to trade UltraTech Cement, Suven Pharma and Titagarh Rail Systems on Friday
The Indian market closed in the green for the fourth day in a row on Thursday to hit fresh record highs. The S&P BSE Sensex climbed above 79,000 for the first time to hit a record high of 79,396 while the Nifty50 rose above 24,000 mark to hit a record high of 24,087.
Stock Radar: Indian Hotels rallies over 70% in 1 year to hit fresh record high; time to buy or book profits?
In a remarkable turnaround, the hotel stock surged from ₹380 on June 23, 2023, to ₹649 on June 26, 2024, a staggering 70% increase within a year. However, the rally lost some steam in the latter half, peaking at ₹602 in February 2024 before facing resistance. The stock subsequently consolidated within a range, finding support at ₹480-500 and facing resistance at ₹600-622.
Promoters to sell a 2.04% stake in Polycab India on Friday
The promoters owned a 65.24% stake in the company as of March 31, 2024. Shares of Polycab have rallied 28% so far this year, compared to a 10% gain in the Sensex.
Radhakishan Damani sells 6.91 crore shares of India Cements to UltraTech for Rs 1,914 crore in block deal
The sale was done at an average price of Rs 277 apiece. Through the deal, Damani and his controlled entities bagged around Rs 1,914 crore.
Stock Radar: 20% rally in 3 months! UPL breaks out of a downward sloping channel; should you buy?
After hitting a high of Rs 688 on July 4, 2023, the agrochemical stock lost its steam and before long it dropped steadily towards 400-450 levels in February and then again in March 2024. UPL has, apparently, formed a strong base above 400 levels from where it bounced back smartly. It rose over 20% in the last 3 months, Trendlyne data showed.
Kotak Institutional Equities initiates coverage on Coforge, sets Rs 6,000 as target price
Kotak analysts anticipate a robust 20.2% CAGR in earnings per share for FY2024-27E. This growth is driven by a 12.3% organic revenue CAGR and a 150-basis point expansion in EBIT margins.
Hot Stocks: 3 stocks that may give returns between 16-33%
Shivalik Bimetal Controls, Ethos, and PNB Housing Finance show promise with strategic initiatives for growth and margin sustenance despite challenges. Analysts recommend these stocks with potential upsides ranging from 16% to 33%.
Amazon hits $2 trillion in valuation on AI fervor, rate cut bets
The stock climbed 3.4% to $192.70, pushing the e-commerce giant’s market value past $2 trillion. This elevation places it alongside technology giants like Microsoft Corp, Apple Inc, Nvidia Corp, and Alphabet in the elite $2 trillion club.
Five entities sell 11% stake in Hindustan Foods for Rs 638 crore
Jwalamukhi Investment Holdings, Infinity Consumer Holdings, WestBridge AIF I, Sixth Sense India Opportunities 11, and Konark Trust sold shares of Hindustan Foods in five separate block deals on the National Stock Exchange.
Whirlpool shares jump 19% on report Robert Bosch is weighing bid
This year, Whirlpool, which owns brands like Maytag and KitchenAid, has experienced disappointing sales as U.S. consumers have reduced spending on major purchases. The company's stock has dropped 29% from the beginning of the year up to Tuesday's close.
Rivian jumps 36% as $5 bln Volkswagen investment signals 'vote of confidence'
The investment is set to reinforce Rivian's dwindling cash reserves, push the startup nearer to profitability, and enhance its competitive stance in a market led by Tesla. As part of the agreement, Rivian will establish a joint venture with Volkswagen that is equally managed by both companies. This partnership will involve sharing electric vehicle architecture and software, which could later be utilized by Volkswagen's brands such as Audi, Porsche, and Lamborghini.
Momentum Pick: Will this multibagger’s weekly breakout lead to another leg of rally?
In-depth analysis indicates Suzlon Energy's potential for growth with reduced debt, improved cash position, and increased revenue. Market experts foresee momentum continuing, backed by positive financial results and sectoral support, highlighting a promising outlook for the company.
Nifty target price increased to 25,638; HDFC Bank among 19 conviction picks: InCred Equities
As the VIX returns to a near-13 level, a domestic brokerage firm reaffirms its optimistic outlook for the Indian market. The firm highlights robust macroeconomic factors and projects 12% EPS growth for FY25-26, favoring investments in the utility, consumer, and capital goods sectors.
Godawari Power & Ispat announces Rs 301 crore buyback, shares surge 6%
Godawari Power & Ispat shares surged 6% on BSE to an all-time high after approving a Rs 301 crore share buyback. Som Distilleries shares dropped 16% due to a Madhya Pradesh plant issue.
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