HDFC AMC shares gain focus after reporting a 32% YoY increase in Q2 PAT, reaching Rs 576.61 crore. Revenue climbed 38% to Rs 887.2 crore, with total income of Rs 1,058.19 crore. Analysts Jefferies and CLSA express positive sentiments, raising target prices and upgrading ratings.
RJD leader Tejashwi Yadav says INDIA will strive to ‘win all elections’ (16-10-2024)
Former Bihar Deputy CM Tejashwi Yadav stated that the INDIA bloc aims to win upcoming elections and defeat BJP in Jharkhand. The Election Commission has announced polling dates for Jharkhand and Maharashtra, with counting of votes scheduled for November 23. Bypolls in various states will also be held in November.
Fund Manager Talk | Don’t generalize smallcaps as expensive, it’s a stock-picker’s paradise: Mihir Vora (16-10-2024)
On valuations, the P/E ratio of the small-cap index (Nifty Small Cap 250) is similar to that of the large-cap (Nifty 100) index, at around 19-20x on two-year forward earnings (excluded loss-making companies in the aggregates). However, the projected earnings growth for small-caps is higher, at 18% for the next couple of years versus 8-10% for large-caps. So, growth-adjusted valuations are not that expensive for small-caps.
10 midcap stocks that mutual funds bought and sold in September (16-10-2024)
Key additions by mutual funds in mid-cap stocks included KPR Mill, Brigade Enterprises, PTC Industries, and Metro Brands.
Hyundai Motor IPO: Enters Day 2 with 18% subscription (16-10-2024)
Hyundai Motor India public issue’s retail investors portion received bids for 26%
Lakshya Powertech IPO: Check issue size, GMP, price band and other details (16-10-2024)
Lakshya Powertech’s SME IPO opens today and closes on October 16, aiming to raise Rs 50 crore through a fresh sale of 27.72 lakh shares priced at Rs 171-180 each. The company’s shares are trading at a GMP of Rs 160. Proceeds will fund debt repayment and working capital. Listing is expected on October 23.