UBS cut the target price of Hero MotoCorp to Rs 3,300, reiterating their ‘sell’ rating. The market appears to like Hero as a rural proxy, while expecting a rural demand revival and a turnaround in its premium 2-wheelers. UBS believes the market is too optimistic regarding Hero’s rural moat.
Posts in category Economic Times
Abhijeet Bora’s top 10 Diwali stock picks from large, mid, and small caps (25-10-2024)
Last few years if you see the rally was supported by both earnings growth as well as the expansion in the PE ratio for the overall market. Last few years, three years, the EPS CAGR for Nifty 50 has been 24-25%, so that was the key trigger for the market rally.
HPCL Q2 Results: Net profit slumps 98% YoY to Rs 143 crore, revenue rises 5% (25-10-2024)
State-owned Hindustan Petroleum Corporation (HPCL) reported a 97.5% year-on-year decline in consolidated net profit, dropping to Rs 142.67 crore from Rs 5,826.9 crore in the same quarter last year. However, HPCL’s revenue rose 5.3% year-on-year to Rs 1,07,754.9 crore, compared to Rs 1,02,288.6 crore in the previous year
Bear & bull markets going on side by side now; make ROC your top priority: Madhusudan Kela (25-10-2024)
Market expert Madhusudan Kela highlights the coexistence of bull and bear markets. He stresses the need to identify good sectors and companies, manage expectations, and prioritize return of capital. Kela also warns against being overly optimistic and cautions investors to be mindful of market corrections and bubbles in specific sectors.
JSW Steel Q2 Results: PAT plunges 84% YoY to Rs 439 crore, revenue drops 11% (25-10-2024)
JSW Steel Ltd reports an 84% drop in Q2 consolidated net profit to Rs 439 crore, against Rs 2,760 crore last year. Revenue declines 11% YoY to Rs 39,684 crore. The company incurs a Rs 342 crore one-time charge, with operating EBITDA at Rs 5,437 crore and margins at 13.7%.
Bharti Airtel’s Africa business reported a consolidated profit of $48 million for Q2 (25-10-2024)
Bharti Airtel’s Africa unit reported a $48 million profit for Q2, down 65% year-on-year. Revenue fell to $1.21 billion, impacted by currency devaluation and rising fuel prices.
Dharmesh Shah on 2 sectors to bet on in a volatile market (25-10-2024)
Nifty has strong support at 23,800, with resistance around 24,600 to 24,700. Going short now is not advisable—any positive news could trigger a pullback to 24,500 or 24,600
DLF declines 3.16% as Sensex slides (25-10-2024)
The stock traded at a P/E multiple of 67.61, while the price-to-book value ratio stood at 5.64.
Share price of Vedanta falls as Sensex drops 778.86 points (25-10-2024)
Promoters held 0.0 per cent stake in the company as of 30-Sep-2024, while FII and DII ownership stood at 11.45 per cent and 7.62 per cent, respectively.
BEL Q2 Results: PAT jumps 34% YoY to Rs 1,091 crore, beats estimates (25-10-2024)
BEL Q2 Results: The profit after tax (PAT) surpassed Street estimates of Rs 843 crore. In Q2, revenue from operations reached Rs 4,583 crore, marking a 15% increase from Rs 3,993 crore reported in the same quarter of the previous financial year.