Dr. Reddy’s Labs reported a 15% decline in Q2 net profit, despite a 17% rise in revenue driven by global generics. While analysts acknowledge the strong revenue momentum, opinions are divided on the stock’s future prospects, with ratings ranging from ‘Buy’ to ‘Sell’.
Posts in category Economic Times
Sensex jumps over 550 points, Nifty tops 24,350 as Trump powers through US exit polls (06-11-2024)
Driven by gains in financial and IT stocks, Indian benchmark equity indices, Sensex and Nifty50, opened higher on Wednesday amid the U.S. presidential election results. Asian markets traded lower as early U.S. presidential election results suggested a tight race. Analysts believe a Trump or Harris win could have varying impacts on Indian stocks.
Hindustan Zinc shares plunge over 7% on govt plan to sell 2.5% stake via OFS (06-11-2024)
The Indian government sold a portion of its stake in Hindustan Zinc. The sale involved up to 2.5% of the company’s shares. This move caused share prices to drop over 7% on the Bombay Stock Exchange. The floor price for the sale was set at a discount compared to recent market values.
Buy BEL, target price Rs 317-340, over 6-9 months: HDFC Securities (06-11-2024)
HDFC Securities recommends buying Bharat Electronics Ltd. with a target price of Rs 317-340 over 6-9 months, citing its strong market position, robust R&D, and government affiliations. The company’s reported total income and profit have seen a significant increase. Investors are advised to buy the stock within Rs 284-294, adding more on dips for optimal gains.
Titan shares fall 3% as Q2 numbers disappoint investors. Should you buy, sell, or hold? (06-11-2024)
Titan Share Price: Titan’s shares dropped after the company announced its second quarter results. Profit declined by 23.1% compared to the same period last year. Total income, however, increased by 26%. Analysts have mixed opinions on the stock. Investec and Jefferies recommend holding, while Goldman Sachs maintains a buy rating. The company’s performance was impacted by a reduction in customs duty.
Rupee hits record low amid decline in Asian peers on US election updates (06-11-2024)
The Indian rupee plummeted to a record low against the U.S. dollar on Wednesday, as early U.S. election results spurred a dollar rally and weighed on Asian currencies. The rupee slid to 84.1725 per dollar, while the dollar index surged to a four-month high. Early projections showed Trump leading the presidential race, fueling ‘Trump trades’ and pushing U.S.
Mahindra and Mahindra Q2 Preview: Revenue may rise 13% YoY; Profit expected to remain muted (06-11-2024)
Mahindra & Mahindra’s Q2 revenue is expected to grow 10-13% YoY, driven by tractors and automotive, while profits may remain flat. Analysts predict mixed results with muted profit growth and stable margins.
Stocks to Buy Today: SBI, L&T among top 6 trading ideas for November 6, 2024 (06-11-2024)
Indian markets are expected to consolidate on November 6, 2024, following mixed global cues. Nifty formed a bullish candle, with key support at 24,000 and resistance at 24,500. Experts recommend stocks like Jubilant FoodWorks, L&T, SBI, and Deepak Nitrite for short-term trading, with specific targets and stop-loss levels. Market volatility remains high, as seen in rising India VIX.
Buy Tata Power, target price Rs 509: Motilal Oswal Financial Services (06-11-2024)
Motilal Oswal Financial Services recommends buying Tata Power Company with a target price of Rs 509. Tata Power’s current market price is Rs 444.8. The company, incorporated in 1919, operates in the power sector with various revenue segments. Promoters hold 46.86% stake, and the latest quarter net profit is Rs 858 crore.
Top picks! HDFC Bank, SBI among 8 largecap stocks that can rally up to 31% (06-11-2024)
Axis Securities is bullish on 8 large-cap stocks with up to 31% upside potential, including ICICI Bank, SBI, HDFC Bank, Bharti Airtel, and Cholamandalam Investment, citing strong growth and favorable financials.