ABB India to provide power to Samskip's hydrogen-fueled container vessels
ABB India has been awarded a contract by logistics company Samskip to provide a power distribution system for two hydrogen-powered container ships. The vessels, which will be among the first of their kind to use hydrogen as fuel, are part of the shipping industry's efforts to decarbonize. ABB will deliver its compact Onboard DC Grid power distribution system and its Ability System 800xA energy storage solution control to optimize energy usage.
Does it make sense to add L&T and BHEL at this juncture?
“For BHEL, of execution has always been a problem and so I will be very, very cautious. The large order book probably does not mean much unless it is properly executed and we will have to wait and watch. Also, one has to remember that this order book does not translate into immediate revenue.”
Tata Steel, ABB India partner to co-develop technology to reduce carbon footprint in steel making
ABB India and Tata Steel partner up to jointly work on technologies for reducing the carbon footprint of steel production. Under the MoU, the two companies will focus on system-level assessments of Tata Steel's manufacturing plants and production facilities for evaluation and co-development of short and long-term options for energy efficiency, decarbonization and circularity.
Tata Steel, ABB enter into tech exploration deal to reduce carbon footprint
As per the MoU, the two companies will focus on system-level assessments of Tata Steel’s manufacturing plants and production facilities to evaluate and co-develop short and long-term options for energy efficiency, decarbonisation, and circularity.
Rishabh Instruments holds promise in energy efficiency
The promoter holding would drop to 70.6% post-IPO from 80.67%. Long-term investors may consider the IPO owing to earnings visibility in the energy efficiency product segment. The company's ability to develop products in lower lead time, the potential for margin expansion, and likely incremental revenue from electronic manufacturing services are draw cards for the IPO.
Prabhudas slashes Nifty target to 20,735 ahead of polls; lists SBI & Tata Motors as top bets
Nifty which has given over 14% return on the year-to-date (YTD) basis, riding on FII flows worth over $16.5 billion, will likely start factoring in political risks as election-related activity picks up, first with state elections in November and later the Lok Sabha elections.
ABB India bags order to automate Reliance Life Science's biopharmaceutical facilities
ABB India Limited, a technology provider, has secured an order from Reliance Life Sciences (RLS) for complete automation of their new biosimilars and plasma proteins manufacturing units in Nashik, Maharashtra. The scope of the project includes the installation of ABBs Distributed Control System (DCS) Ability System 800xA, Remote I/O systems, and MES Integration for efficient operator interaction.
Worst not over! Nifty around 19K would be a good point to relook again: Andrew Holland
“We like defence and renewables but they have had a great run. Any correction in markets will bring some of these stock prices to more palatable levels in terms of dipping our toes again. So, there is nothing really I want to be jumping into right now because markets are still looking overbought despite the recent correction.”
Markets could correct at least 1,200 points before fresh buying can start: Sandip Sabharwal
"Several factors are contributing to the current market correction, including the strong US dollar index leading to outflows from emerging markets, concerns over the decline of the Chinese economy, and the Nifty going up 3,200 points without a break. However, India's overall outlook remains strong, and market corrections may present fresh opportunities for investors."
Is the comeback in pharma here to stay? Should you buy expensive capital goods stocks?
"The next few quarters may certainly be very good for pharma companies. But these are no longer the secular growth stories which we have pursued back in the 2000 or 2010 era, when companies like Sun Pharma, Lupin, Dr. Reddy, Cipla were easily growing at 20% plus," says Dipan Mehta.
Price Action supports price to go above 4600 very soon, maybe in a week and later on 4750-4850 range, so I am willing to ladder some quantity from CMP to 4350 if it gives dips. Invalidation Daily closing below 4250.
Expect further downgrades to earning expectations in IT sector: Sandip Sabharwal
"We need to monitor the IT sector todecide as to when we want to buy into it. Right now, I do not think it is the time to buy into this sector. We could see that next quarter when these companies talk about their guidance, there could be further cuts."
First Formula E race had positive impact on Hyderabad's economy
The first-ever Formula E race in India, the Greenko Hyderabad E-Prix, had an economic impact of nearly $84m, according to a study by Nielsen Sports Analysis. The race on 11 February generated almost $84m for Hyderabad's economy and drew 31,000 spectators, of whom 59% came from outside Hyderabad and contributed to the local economy.
'Frail recovery, Disappointed': What global companies are saying about China's economy
Multiple global firms are expressing caution towards their business in China, due to a frail economic recovery from the pandemic slowdown. Procter & Gamble saw a 1% fall in overall volumes, while L'Oreal mentioned that the recovery in the Chinese market is slow. Intel's CEO Pat Gelsinger reported that the China market has not come back as strongly as expected. Furthermore, there were fewer new orders from China for ABB, while Citigroup expressed that the deceleration in growth was the "biggest disappointment.
Largecaps to be the outperformers in Nifty going ahead: Vinit Bolinjkar
We like LT Foods, we believe that stock has got significant legs particularly considering what is happening in Ukraine and Russia. Russia is marginalising Ukrainian grain coming to the market that is going to lead to the other staple which is rice doing very well.
Here's why Abhijit Choksi is bullish on EPC engineering sector
In auto, I am betting on Minda Corporation. I am liking it for the next one to two-year point of view. It is a solid EV play as well. The price is around 290 to 300 right now. So for auto, Minda can be a good play.
Aarti Drugs, Alembic Pharmaceuticals among 10 stocks with Golden Crossover pattern. Know what it signifies?
The Golden Crossover is a bullish technical pattern that occurs when a shorter-term moving average (such as the 50-day Simple Moving Average or SMA) crosses above a longer-term moving average (such as the 200-day SMA). This event indicates a potential shift in momentum from bearish to bullish, suggesting an upward trend in stock prices. The crossover is considered "golden" due to its positive implications for investors
PB Fintech, Shriram Finance among 10 midcap stocks which hit 52-week highs today
ABB India hit a 52-week high of Rs 4,556.00 on July 13, showcasing its strong market performance. ABB India is a leading technology company offering a wide range of solutions in electrification, automation, and digitalisation.
We continue to remain bullish on defence sector: Rohit Srivastava
I do not think it is a trend reversal. It is only a short-term consolidation. Now in that, what has been happening which we have to be slightly aware of is this market has moved up with a lot of rotation, which means that at some points of time you find certain sectors doing better than others or rotating so you get outperformance in one sector and then when that starts to pull back you get outperformance in another sector.
Midcap marvels! Samvardhana Motherson, BEL among 8 stocks hit 52-week highs
Several BSE MidCap stocks, including ABB India, Bharat Electronics, Polycab India, and Muthoot Finance, reached new 52-week highs, demonstrating strong market momentum. Power Finance Corporation, CG Power and Industrial Solutions, Samvardhana Motherson International, and REC also recorded notable achievements in share price performance.
Many companies, such as Deloitte, KPMG, Airtel, Coca-Cola, Wipro, UpGrad and ABB, with pan-India offices are considering offering work-from-home (WFH) or flexible work options to employees in case of extreme weather conditions in the coming days, their executives told ET.
ABB India, Aegis Logistics among 10 stocks with Golden Crossover pattern. Know what it signifies?
The Golden Crossover, a technical analysis pattern, has been observed in over 300 stocks and represents a potential shift in momentum from bearish to bullish. It occurs when a stock's short-term moving average crosses above its long-term moving average, indicating a significant buying opportunity for investors.
Cyient DLM shares list at a healthy premium. Should you hold or sell?
"We continue to advise allotted investors to book profits, and if anyone wishes to buy, they should wait and watch for the counter as markets may see some pressure to sustain at higher levels," Tapse said.
Solid Start! Cyient DLM shares list at 52% premium over IPO price
Integrated electronic manufacturing services provider Cyient DLM made a strong debut on the stock exchanges, with shares listing at a premium of 52% over the IPO issue price of Rs 265 on NSE. The company's IPO received a massive response from investors with an overall subscription at 71.3 times. Cyient DLM will use the net proceeds from the issue to fund incremental working capital requirements, capital expenditure, repayment of debt and other general corporate purposes.
Aarti Drug, ABB India among 10 stocks with Golden Crossover pattern. Know what it signifies?
The Golden Crossover is a technical signal generated when the short-term moving average (such as the 50-day simple moving average) crosses above the long-term moving average (such as the 200-day simple moving average). This event signifies a shift in investor sentiment, indicating a potential bullish trend reversal or the beginning of a new upward movement.
Asian Paints, Ashok Leyland among 10 stocks in overbought zone
The RSI is a valuable technical indicator that measures the strength and momentum of a stock's price movement. Ranging from 0 to 100, an RSI value above 70 indicates an overbought condition, suggesting that the stock may be due for a potential price correction. Conversely, an RSI value below 30 indicates an oversold condition, indicating a possible rebound in price. Assessing stock movement based on RSI trends is important because it helps investors identify potential turning points and make informed decisions
Here's why Abhishek Basumallick is bullish on pharma sector
I think structurally the Indian market is looking really good after a long time. The next two-three years things look good, a lot of things have sort of aligned now for India globally for things to look good for the next couple of years.
L&T Finance Holdings among 10 BSE MidCap stocks which hit new 52-week highs
Several mid-cap stocks on the S&P BSE MidCap index reached new 52-week highs, attracting significant investor attention. Some of the notable performers include ABB, Abbott India, Aditya Birla Capital, Ashok Leyland, Cholamandalam Investment & Finance, Cummins India, Exide Industries, Godrej Industries, Hindustan Petroleum, and L&T Finance Holdings. These companies operate in various sectors such as electrification, pharmaceuticals, financial services, automotive, and manufacturing. Please note that the data is sourced from BSE and is current as of 12:45 pm.
EV charging firms oppose Texas' 'premature' plan to mandate Tesla standard
A group of EV charger makers and operators is pushing back against Texas' plan to mandate the inclusion of Tesla technology in charging stations, saying it is "premature," according to a document seen by Reuters and a source aware of the matter.
ABB India to provide electrification, automation systems to AMNS India
ABB India on Friday said it will provide electrification and automation systems for ArcelorMittal Nippon Steel India's (AM/NS India) advanced steel cold rolling mill (CRM) in Hazira, Gujarat. This will support AM/NS India in its bid to reach greater levels of sustainability at Hazira. The new CRM with advanced processing lines is due to be commissioned in 2024, the company said.
Cyient DLM IPO: Issue subscribed 14.5 times so far on last day; GMP rises
The Cyient DLM IPO has been subscribed 14.52 times on the last day of bidding, with retail investors leading the way. Retail investors subscribed 37.39 times, non-institutional investors subscribed 23.83 times, and qualified institutional buyers bid 3.44 times more than the reserved amount. The company's shares are commanding a premium of Rs 110-112 compared to the upper end of the price band. Cyient DLM is an electronic manufacturing services provider with long-term relationships with key customers. Analysts believe the company's valuation is in line with industry peers. The IPO proceeds will be used for various purposes.
Cyient DLM IPO continues to garner strong interest on Day 2. Check subscription, GMP & other details
Integrated electronic manufacturing services provider, Cyient DLM, witnessed strong demand for its IPO, with the overall issue being subscribed 4.76 times on the second day. Retail investors showed significant interest with a subscription of 17.10 times, while the demand from qualified institutional buyers remained muted at just 4%. According to analysts, the company's shares are expected to command a premium and potentially fetch a bumper premium of 41% on listing. Cyient DLM reported revenue growth of 15% and a profit of Rs 31.7 crore for the financial year ending March 2023.
Cyient DLM IPO opens today. Should you subscribe to the issue?
Cyient DLM has initiated its initial public offering for subscription, with a price band of INR250-265 ($3.36-$3.55) and a proposed market capitalisation of INR2,102 crore. The entire IPO comprises fresh equity shares worth up to INR592 crore. Analysts recommend subscribing to the issue for the long term, given attractive valuations, strong growth potential and the company's focus on the entire life cycle of a product. Cyient DLM is a printed circuit board assembly solutions specialist with long-term relationships with customers such as Bharat Electronics and Thales Global Services.
Want stocks that will go up 30-40% in the next 2-3 years? Amnish Aggarwal answers
“ABB and Siemens are in the centre of energy transition, digitization and data centres. This entire space looks very interesting. But particularly, over the next couple of years, Siemens and ABB look very interesting to us,” says the head of research of Prabhudas Lilladher.
Cyient DLM IPO: What GMP indicates ahead of subscription tomorrow?
Cyient DLM is set to start its initial public offering on Tuesday, offering shares in the range of Rs 250-265 with a total value of up to Rs 592 crore. Ahead of the IPO, the company's shares have commanded a premium of Rs 90 in the unlisted markets. At the upper price band, Cyient DLM is available at P/E of 66.2x FY23 earnings. The firm specialises in the entire lifecycle of an electronics product, including design, build and maintenance, and is offering a fresh issue of equity shares.
Small and midcap rally to sustain, overweight industrial & property stocks: Jefferies
Jefferies has initiated coverage on 16 stocks as 'Buys', all of which are in the small and midcap space. The brokerage firm believes that there is a higher share of domestic economy stocks in the SMID space and that SMIDs will continue to outperform large-cap stocks going forward. There is a dearth of medium-cap investment ideas and only 3 Nifty-50 components account for 5% of the market cap belonging to the industrial and realty group in the large-cap section. Conversely, 18-20% of the SMID market cap is made up of industrial and realty companies.
Markets likely to be volatile in near term: Trideep Bhattacharya
I would probably see this kind of flattishness, if I may call it that way, or volatility continue as we head towards maybe the year end. But I would encourage investors to take this as an opportunity to kind of get invested because the medium term from a two to three year perspective for India Inc. is looking particularly robust and we can go into detail of that but that is my near term prognosis.