Shares of Asian Paints fell 9% to Rs 2,511.65 on Monday, following the company’s announcement of a 42.5% year-on-year decline in its consolidated net profit for Q2 FY2024. The company’s profit after tax (PAT) dropped to Rs 694.6 crore, compared to Rs 1,205.4 crore in the same quarter of the previous year, reflecting weak consumer sentiment.
Posts in category Economic Times
Buy UltraTech Cement, target price Rs 12,320: Geojit Financial Services (11-11-2024)
Geojit Financial Services upgrades UltraTech Cement to a “BUY” rating with a target price of Rs 12,320. Despite a recent weak operating performance due to lower demand and pricing, future industry growth is anticipated. This optimism stems from expected rural demand increases and government infrastructure spending. UltraTech’s strategic acquisitions and capacity expansions position it well to capitalize on these opportunities.
Monday blues! Sensex, Nifty decline for 3rd straight session tracking weak earnings (11-11-2024)
Indian blue-chip indices open lower for third session, driven by weak earnings and foreign outflows, with Sensex, Nifty50 down.
Cummins India among 5 stocks showing RSI Trending Up (11-11-2024)
Five Nifty200 stocks show RSI trending up, indicating strengthening momentum and potential buying opportunities for traders.
Hot stocks: Brokerage view on InfoEdge, Tata Motors, SBI and Trent (11-11-2024)
Nomura and Jefferies have given buy ratings to InfoEdge and SBI, respectively, while CLSA upgraded Tata Motors to outperform. Goldman Sachs initiated coverage on Trent with a buy rating, citing Zudio’s growth potential as a key driver.
Tata Motors shares jump 2% despite reporting 11% fall in Q2 profit. Should you stay invested? (11-11-2024)
Tata Motors’ shares rose 2% despite a lower-than-expected 11.18% YoY drop in Q2 profit, reaching Rs 3,343 crore. The company attributed the decline to external challenges impacting growth. Despite this, analysts remain optimistic, citing strong business fundamentals and anticipated improvements in the second half of FY25.
Buy LT Foods, target price Rs 520: Motilal Oswal Financial Services (11-11-2024)
Motilal Oswal Financial Services has issued a buy call for LT Foods Ltd., setting a target price of Rs 520, significantly higher than its current market price. The brokerage cites the company’s impressive financial performance, including a robust revenue and EBITDA growth, strategic market expansion, and strong cash flow generation.
Crypto frenzy: Bitcoin surges past 81K to record high on Trump bets (11-11-2024)
Bitcoin, the world’s biggest and best-known cryptocurrency, has more than doubled from the year’s low of $38,505 it hit on Jan. 23. It was last at $80,829 in Asian hours having touched a record high $81,464 earlier in the session.
Buy Larsen & Toubro, target price Rs 4,070: LKP Securities (11-11-2024)
LKP Securities has set a target price of Rs 4070 for Larsen & Toubro Ltd. The brokerage firm recommends buying shares in the company. Analysts believe the company’s stock price could reach the target within a year. Larsen & Toubro reported strong financial results for the most recent quarter. The company’s total income and net profit increased year-over-year.
SBI shares in focus after Q2 earnings beat estimates. Should you buy, sell, or hold? (11-11-2024)
State Bank of India (SBI) exceeded profit forecasts, posting a 28% surge to reach Rs 18,331 crore. This robust performance was fueled by a 5% rise in net interest income, though deposit growth trailed behind loan growth. Analysts are optimistic, with many upgrading target prices and praising SBI’s asset quality and growth prospects.