Credit cycle driven stocks will do much better going ahead: Vinod Karki
If you look at the breakup of the investment cycle, and that is what we have been talking about in our reports also, that the previous peak of the investment cycle was around 2011-12. And if you just break it up, the gross fixed capital formation, almost 37% of the contribution was from real estate investments by households and that 37% till about 2021 dropped to close to 25% odd.
Shares of National Aluminium Co (Nalco) surged by over 5% as its Q4 revenues and profits beat market estimates. The Indian government-run firm is hopeful of profitability looking up in the current fiscal even though prices of aluminium may remain subdued due to tepid economic expansion globally.
Analysts estimate the overall countrywide penetration of 5G SIMs to rise from sub-5% now to at least 15% in the next 12 months. This, coupled with the fact that 5G mobile users consume more than double the amount of data consumed by 4G users, suggests that Indias 5G operators will see a surge in mobile data usage levels
How will ONDC shake up Zomato and Swiggy? ICICI Sec’s Abhishek Banerjee analyses
Abhishek Banerjee of ICICI Securities, believes that ONDC is initially stealing business from aggregators, but it will limit the potential commission rates that they can charge. The discount offered by ONDC is currently funded by the company, which is unsustainable in the long-term. However, a 15-20% pricing difference between ONDC and aggregates like Swiggy or Zomato may be sustainable, which will attract price-sensitive customers.
Broking firms' profitability takes a hit as retail euphoria fades, volumes ebb
"Euphoria in the retail market as well as activities moderated, new client additions, NSE active clients, all of these numbers declined in the industry," said Vijay Chandok, MD of ICICI Securities. "Cash volumes were also in a downward trajectory throughout the year, and equity capital markets, the fundraising markets were all muted in FY23 as compared to FY22."
Bajaj Auto Q4 beat: Should you buy, sell or hold the stock?
Despite recording stronger-than-expected Q4 earnings, Bajaj Auto shares fell. The company has seen some market share losses in premium bikes and exports. Jefferies analyst Nitij Mangal sees multiple tailwinds, including the rebound of domestic demand and gradual export recovery.
The stock, which has lately undergone significant price and time corrections, has finally come out of the past four month's consolidation levels of ₹2,270-2,626 to close at ₹2,630 Tuesday. Technical analysts expect a 10% climb in the short term.
ICICI Securities downgrades Yes Bank to ‘reduce’; stock trades in red
ICICI Securities in a note said YES Bank reported a mixed set of Q4FY23 earnings with healthy business growth, NIMs [net interest margins] and improvement in headline net stress. It said the profitability (RoA at 0.2%) remained weak due to continued investment in franchise and retail orientation
Despite strong Q4 results, brokerages warn of headwinds for Macrotech Developers. Should you buy, sell or hold stock?
While foreign brokerage Jefferies has maintained a ‘buy rating on the Lodha Group company estimating a 35% upside, domestic brokerage HDFC Securities has left the price unchanged. Meanwhile, ICICI Securities has slashed the target price while cautioning for headwinds. Should you buy, sell or hold this stock?
FIIs bullish on 2 midcap IT stocks but reduce bets on Infosys, TCS
Latest shareholding pattern shows that FIIs pared their stake in Infosys by 120 bps to 35.09% in March quarter and in the case of bellwether Tata Consultancy Services (TCS) their holding went down by 22 bps to 12.72%.
Large global PE firms, local investors eye stake in BoB's credit card arm
The (EOIs) were submitted earlier this month and are now being reviewed by the bank to shortlist names for the second phase of the process, which will be opened for a limited number of bidders. Those making the second short-list will get access to more detailed information on the company and its management team.
On Monday, yield on the 10-year benchmark government bond eased 6 basis points to settle at 7.10%, the lowest closing level for the benchmark yield since September 13. The yield on the most liquid bond in the secondary market also slid to its lowest levels since September, registering a fall of five basis points.
Jio beats Q4 ARPU estimates on home broadband growth
"Blended ARPU grew at a modest 0.3% q-o-q (quarter-on-quarter) to ₹178.8 (versus our estimate of ₹178.2) as subscriber mix improvements and rising contribution from FTTH (fibre-to-the-home) offset the lesser days in quarter q-o-q," Kotak Institutional Equities said in a report.
EbixCash, Survival Technologies get Sebi nod to launch IPO
Additionally, the company may consider a further issue of specified securities through a private placement aggregating up to Rs 1200 crore. If such placement is completed, the fresh issue size will be reduced.
Chart Check: A breakout from 15-month triangular consolidation powering rally in Dr Reddy’s Lab
The pharma stock hit a 52-week high of Rs 4,939 on 19 April 2023. The stock price gave a breakout above the triangular consolidation of the last 15 months on the weekly charts signaling the resumption of up move and offering fresh entry opportunities, suggest experts.
Rs 83,000 crore in 3 months! DII faith in Dalal Street unaffected by global volatility
The volatility in global markets notwithstanding, DIIs have been relentlessly buying equities, and in the first three months of 2023, they have pumped in Rs 832 billion, data shared by NSE showed. This is almost equal to the total inflows seen in 2021.
Q4 Results: ICICI Securities profit falls 23% to Rs 337 cr; Tata Communications’ PAT down 11%
Revenue from operations during the quarter stood at Rs 885 crore, also down marginally as against Rs 892 crore in the year-ago period.The income from interest for the quarter came in at Rs 287 crore, up 35% year-on-year, while brokerage income stood at Rs 310 crore
Local benchmark yield continues to feel impact of swings in US bonds
From a high of 7.62% in mid-June, yield on the Indian 10-year bond declined to 7.19% at the end of August. Following its off-cycle repo rate increase of 40 basis points in May, the Reserve Bank of India (RBI) hiked the policy rate by 50 bps each in June and August.
FPIs led by GQG Partners puff up ITC stock, raise holding in March quarter
Foreign portfolio investors (FPIs) increased their ownership in the company in the last quarter. The cumulative holding of category-I FPIs was 12.87% at the end of March quarter, up from 12.51% a quarter ago.Meanwhile, sequentially, insurance companies total holding in the March quarter dropped marginally. Insurance majors, including Life Insurance Corporation of India, cumulatively held 20.40% stake at the end of March quarter, against 20.44% a quarter ago
Telecom sector dials up Centre to slash levies for 5G viability
India's top telecoms companies, including Reliance Jio, Vodafone Idea and Bharti Airtel, have appealed to the government for reduced levies, saying the sector requires more financial relaxation and support for viability and sustenance. Through the Cellular Operators Association of India, the industry is seeking a reduction in licence fees, from 3% to 1% and a deferral of the universal service obligation levy of 5% until funds to the value of INR64,774 crore are exhausted. The telecom industry is predicted to have closed FY2023 with around INR6.3 lakh crore of debt (approx. $85bn).
HDFC Bank shares fall despite strong Q4 results; should you buy the stock?
The HDFC Bank share prices followed the overall weakness in the stock markets triggered by the rout in Infosys, which fell nearly 12% at 10 am. The 50-stock Nifty50 was trading at 17,613.95, down by 214.05 points or 1.2%.
Hot Stocks: Brokerages on HDFC Bank, Infosys post Q4 results and Bharti Airtel
ICICI Securities maintained a buy rating on Bharti Airtel with a target price of Rs 960. “The biggest disappointment for Bharti we have heard from investors is the lack of free cash flow (FCF) generation in the past, which has capped shareholder value creation,” the brokerage said.
AU Small Finance Bank shares zoom 16% after RBI approves reappointment of MD & CEO
Sanjay Agarwal has been reappointed for a period of three years, from April 19, 2023, to April 18, 2026. Also, Uttam Tibrewal has been reappointed as whole-time Director of the Bank for the next three years.