Posts in category Economic Times
Minority shareholders of ICICI Securities file lawsuit against delisting move (28-04-2024)
Manu Rishi Guptha and minority shareholders have challenged ICICI Bank's delisting bid for ICICI Securities at NCLT. Shareholders had approved merger with ICICI Bank but Quantum MF has is also considering legal action against the bank. ICICI Securities has reported robust financials. According to the proposed delisting scheme, ICICI Securities shareholders are slated to receive 67 shares of ICICI Bank for every 100 shares held.
Why Nifty Bank has underperformed Nifty50 in the past one year (28-04-2024)
Rallies in the markets may not present a clear picture of certain key developments. This is the very nature of the markets. A little bit of digging helps reveal stories which may not be apparent in the broad sentiment which engulfs the markets.
UltraTech Cement Q4 preview: PAT may rise 18% YoY to Rs 1,962 crore, 13% revenue uptick likely (28-04-2024)
UltraTech Cement anticipates a strong financial performance in Q4FY24, expecting a net profit of Rs 1,962 crore and revenue of Rs 20,057 crore. The company's growth is supported by volume, realisations, and positive sector outlook. In the year ago period, UltraTech had reported a profit after tax (PAT) of Rs 1,650.3 while the revenue from operations stood at Rs 18,321.6 crore. The company will announce its earnings on April 29, Monday.
Use the dips to buy into Kotak Bank and Bajaj Finance; recovery will be as sharp on next trigger: Deven Choksey (28-04-2024)
Deven Choksey discusses market opportunities during corrections, stock-specific triggers for recovery like in Kotak Bank and Bajaj Finance. Real estate and consumer durables sectors show growth potential, with Reliance Retail's entry expected to disrupt the market.
Wall Street humbled as fast-reversing markets confound the pros (28-04-2024)
With inflation up, economic growth down and two-year Treasury yields testing 5%, Bill Gross sensed the music in markets was fading, and said it was time to get over the likes of the Magnificent Seven.
As Fed bets are repriced, global fund managers look at cheap China; haven plays in Korea, India & Japan (28-04-2024)
Corporate reforms in Japan and South Korea will support a value thesis, according to JPMorgan Asset Management and AllianzGI. Meanwhile, M&G Investment Management is attracted by near record-low valuations for Chinese stocks. Other haven plays are exporters and India’s domestic-driven equities. The outlook is even dimmer for currencies and bonds.
Double-digit growth seen in IT sector in 2025, 2026 and 2027: DD Mishra, Gartner (28-04-2024)
Gartner's DD Mishra anticipates AI-led growth in 2024-25, with CIOs relying on consulting services amid uncertainties. Crisis drives IT spending, while niche areas like midcap IT, ER&D, and automotive industry are expected to outperform. Mishra says: "We will see disruptions in the short term, but the long term outlook is positive."
US Fed FOMC, Q4 earnings, FII action among 10 factors to set D-Street mood this week (28-04-2024)
Nifty gained 2% weekly but declined Friday due to US inflation concerns, geopolitics, FIIs selling. Markets closed May 1 for Maharashtra Day. Key factors to watch include US Fed FOMC, Q4FY2024 earnings, and technical factors. "Going ahead, FII activity remains a key factor to watch especially considering their already low holdings in the Indian market."
Get set for a bottoms-up market in first half of FY25: Amit Khurana (28-04-2024)
Post March caution, markets rebounded but earnings season remains weak. Focus should be on turnaround signs or visibility in stock selection. Amit Khurana of Dolat Capital says that while battery companies have outperformed, IT midcaps remain overvalued. He is positive on capex stories but remains wary of high valuation stocks.
Which part of power bucket to see highest earnings growth in next 10 years? Fitch Ratings’ Girish Madan answers (28-04-2024)
Girish Madan from Fitch Ratings discusses the rise in profits for Gencos through factors like lower commodity prices and reduced solar module prices. He emphasizes the ongoing shift towards renewable generation in the power sector for enhanced profitability. He says: "Going forward, we see some push on the renewable as well as on the thermal power generation front."