MSCI did not include Adani Energy Solutions in its Global Standard Index. This followed a show cause notice issued by SEBI to Adani Energy Solutions. MSCI also reduced the float in Adani Green Energy and Adani Power. Five other Indian companies were included in the index. MSCI increased the weightage of HDFC Bank.
Posts in category Economic Times
Hindalco shares tumble 7% as recycling arm Novelis logs weak Q2 numbers (07-11-2024)
Hindalco Share Price: Hindalco’s shares plummeted 7% following subsidiary Novelis’s announcement of an 18% drop in net income, settling at $128 million for Q2 FY2025. Despite a 5% growth in net sales driven by higher aluminum prices, Novelis’s adjusted EBITDA declined 5% YoY, impacted by a flooding event at its Sierre facility.
Equal Weight on Varun Beverages, target price Rs 700: Axis Securities (07-11-2024)
Axis Securities has set a target price of Rs 700 for Varun Beverages Ltd. The company’s stock is currently trading at Rs 585.25. Varun Beverages recently acquired a beverage company in South Africa and DRC. The company is also expanding its distribution reach and manufacturing capabilities. Promoters hold a 62.66% stake in the company, while FIIs and DIIs hold 24.
SRF shares 1.11% as Nifty falls (07-11-2024)
The stock quoted a 52-week high price of Rs 2697.45 and low of Rs 2088.55.
After Hyundai, will listing gains be elusive for Swiggy too? (07-11-2024)
Swiggy’s IPO is facing uncertainty as analysts advise investors to consider the long-term potential due to profitability concerns and competition from Zomato. Despite conservative pricing, the IPO saw muted demand on its first day, with grey market trends indicating minimal listing gains.
Axis Securities is Equal Weight on ICICI Bank, target price Rs 1,500 (07-11-2024)
Axis Securities has given ICICI Bank a target price of Rs 1500, citing strong anticipated performance and a potential return on assets of 2.2-2.3%. The bank recently reported a consolidated total income of Rs 72942.55 crore, representing significant year-over-year growth. Despite this positive outlook, a potential slowdown in credit growth due to lagging deposit mobilization is a concern.
Waaree Energies shares slide over 6% even as co secures 180 Mwp module supply order (07-11-2024)
Waaree Energies, India’s largest solar panel maker, saw its shares dip slightly despite securing a major order. This follows a stellar week for the company, which recently went public. The IPO was a resounding success, attracting record bids and pushing the company’s value over Rs 1 lakh crore.
Banks, RIL pull Sensex 400 pts lower; Nifty dips below 24,400 (07-11-2024)
Sensex and Nifty50 opened lower as investors focus on the upcoming Federal Reserve rate decision after Trump’s presidential win.
Buy Maruti Suzuki, target price Rs 13,875: Motilal Oswal Financial Services (07-11-2024)
Motilal Oswal Financial Services has reiterated a buy call on Maruti Suzuki India Ltd., setting a target price of Rs 13,875. The brokerage cites the e-Vitara, a global product with significant export potential, as a key driver for future growth. The company recently reported a consolidated total income of Rs 38972.40 crore for the quarter ended September 30, 2024.
These 4 F&O stocks saw a high increase in futures open interest (07-11-2024)
As of November 6, futures open interest surged over 10% in Syngene International, Mphasis, Granules India, and Chambal Fertilisers, indicating strong market participation and an uptick in active futures contracts.