The markets have been under pressure in October, with a failure to sustain above key support levels. Sahaj Agrawal of Kotak Securities forecasts ongoing volatility and selling pressure, recommending a Bear Put Spread strategy to capitalize on expected market consolidation. Support is anticipated between 23,500-23,700.
Posts in category Economic Times
Buy SBI Life, target price Rs 2,100: Motilal Oswal Financial Services (25-10-2024)
Motilal Oswal Financial Services recommends buying SBI Life Insurance, targeting Rs 2,100, up from Rs 1,636.45. Despite a 39% YoY net profit increase to Rs 529 crore in Q2, APE and VNB missed estimates by 11% and 14%. Investment in new products and digital channels is expected to drive growth.
Mahanagar Gas shares in focus as board approves merger with Unison Enviro (25-10-2024)
Mahanagar Gas shares are set to attract attention after the board approved a merger scheme with Unison Enviro and announced quarterly results. Unison Enviro, a wholly owned subsidiary of MGL, operates in the City Gas Distribution (CGD) sector and has a presence in Ratnagiri, Latur, Osmanabad in Maharashtra, and Chitradurga and Davangere in Karnataka.
IndusInd Bank shares sink 15% after Q2 profit slumps 39% YoY. Should you buy, sell or hold? (25-10-2024)
IndusInd Bank Share Price: Jefferies, Nomura, Investec, Nuvama, and IIFL have downgraded their ratings on IndusInd Bank due to weaker asset quality, lower Net Interest Margins, and softer loan growth. Target prices have been reduced significantly, reflecting concerns over profitability and growth prospects.
Hot stocks: Brokerage view on IndusInd Bank, Dixon Technologies, Colgate, ITC and Piramal Pharma (25-10-2024)
Brokerage firm Jefferies has retained its buy recommendation for IndusInd Bank and Piramal Pharma, while JP Morgan holds a neutral stance on Colgate. Additionally, Investec and Goldman Sachs have also issued buy ratings for Dixon Technologies and ITC.
Fund Manager Talk | How Bajaj Finserv AMC’s Sorbh Gupta is tweaking portfolio for Samvat 2081 (25-10-2024)
Over the last three years, the drivers of domestic demand have been urban consumption and premiumisation. This is changing. From here on, domestic demand – will be driven by a recovery in rural demand and a pickup in mass consumption. A good monsoon and a bumper kharif harvest are expected to improve farm incomes. Furthermore, higher social spending by state governments is also helping the rural economy recover cyclically for the first time after COVID-19.
ETMarkets Smart Talk: Axis Bank, Zomato among top 8 picks for Samvat 2081, recommends Shrikant Chouhan (25-10-2024)
In the near term, the markets may remain volatile amid geo-political conflict, upcoming US Presidential elections and Q2FY25 result season.
Buy HUL, target price Rs 3,200: HDFC Securities (25-10-2024)
HDFC Securities recommends buying Hindustan Unilever Ltd. with a target price of Rs 3,200. HUL has reported a consolidated total income of Rs 16,145 crore for the quarter ending 30-09-2024. Promoters hold 61.9% stake, FIIs hold 12.17%, and DIIs hold 14.07%. HUL’s growth is driven by its strong product segments and rural market presence.
Godavari Biorefineries IPO: Last day of bidding today; GMP improves (25-10-2024)
Despite muted demand for the Godavari Biorefineries IPO, the gray market premium (GMP) has improved in recent days, with the company’s shares currently trading at a 6% premium over the issue price.
Afcons Infrastructure IPO opens for subscription. Should you bid? (25-10-2024)
The initial public offering (IPO) of Afcons Infrastructure, a Shapoorji Pallonji company, opened for subscription on Friday and will close on October 29. The offering includes a fresh issue of shares valued at Rs 1,250 crore and an offer for sale (OFS) of up to Rs 4,180 crore by promoter Goswami Infratech.