NOMURA UPGRADE
Vodafone Idea's prospects rise with government aid, but banks stay wary
Vodafone Idea's government equity conversion helps raise its bank credit potential, but bankers remain cautious due to unclear payment schedules and large dues. Despite improved liquidity, Vi faces intense competition and remains below investment grade, needing substantial debt funding for network upgrades.
Shree Cement shares surge 4% as Nomura upgrades rating to buy, sees stock rallying up to Rs 34,000
Shares of Shree Cement rose 3.6% after Nomura upgraded the stock to 'buy' and raised the target price due to strong recovery in core markets and improved utilization. The brokerage forecasts above-industry volume growth with better realizations and lower fuel costs driving higher profitability.
Stocks to buy: L&T remains BNP Paribas' top pick; HSBC upgrades Glenmark to buy
Nomura, BNP Paribas, and HSBC have issued updated recommendations on Shree Cement, Larsen & Toubro (L&T), and Glenmark Pharma, emphasizing potential upside opportunities for investors.
Greenko, Muthoot Finance raise $1.2-billion debt overseas
Renewable energy firm Greenko Energy Holdings raised around $1 billion from investors, while Muthoot Finance raised $250 million. Greenko's bond was priced at 7.25%, tighter than the initial 7.62% target. The bond, issued under a dual Reg S and Reg S 144A structure, is backed by Greenko Wind Projects (Mauritius) and drew over $3 billion in investor interest. However, the company opted to retain $1 billion, according to two sources.
Adani investors should push for bond buybacks: Analysts
The new facility is reportedly borrowed at a weighted life of 19 years, and now carries a funding cost of 9.2%. The loan it refinanced was taken in 2021 to develop wind-solar hybrid projects.
Blackstone looks to return to Trans Maldivian cockpit as lenders look to exit
Blackstone is nearing a deal to reacquire Trans Maldivian Airways, eight years after selling it to a Bain Capital-led consortium. The airline, facing significant challenges due to the pandemic, is now under new lender control and may see Blackstone return as the primary owner amidst a recovery in leisure travel demand.
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Boat reboots IPO; Insurtechs & healthcare
Wearables brand Boat is gearing up for its second attempt at an initial public offering. This and more in today’s ETtech Top 5.
Rs 2 lakh crore vanished! Tata Motors becomes Nifty's worst nightmare
Tata Motors' shares have plummeted by 44% due to weak demand for JLR in key markets and domestic sales concerns in M&HCV and EV segments. Although the company faces short-term challenges, analysts see potential for recovery with a target price of Rs 930-935.
Kaynes Technology shares rally 9% as Jefferies upgrades to buy rating, sees 6% upside
Shares of Kaynes Technology rose 9% after Jefferies upgraded the stock to 'Buy' despite cutting its target price to Rs 5,400. The upgrade follows a 28% drop in the stock in January. Jefferies expects over 50% EPS growth for FY25-27, driven by a strong order book. Kaynes aims for Rs 3,500 crore sales from its OSAT business by FY30.
Lower budget borrowing may add to India cash boost cheer
India will likely reduce its net borrowings for the second consecutive year, which may extend the rally in Indian bonds as the government aims to adhere to its fiscal consolidation path. The central bank's measures have brought bond yields to a three-year low, with major purchases expected to ease cash deficits and support the financial market.
Balkrishna Industries shares rise 3% as Nomura upgrades to buy, sees 22% upside
Balkrishna Industries’ shares rose 3.4% after Nomura upgraded the stock to “buy,” citing strong growth prospects and attractive valuations. Nomura set a target price of Rs 3,242, expecting a 22% upside, driven by global market strength and strategic diversification. The company’s strong Q3 performance, robust market share, and investments in OTR tyre capacities support this outlook.
Kotak Bank shares rally 9% after Q3 PAT rises 10% YoY. What should investors do?
Kotak Mahindra Bank shares: The Net Interest Income (NII) for Q3FY25 rose to Rs 7,196 crore, up 10% year-on-year from Rs 6,554 crore in Q3FY24. The Net Interest Margin (NIM) for Q3FY25 stood at 4.93%.
Wipro shares rally 8% after Q3 PAT jumps 24% YoY. Should you buy, sell or hold?
Wipro's shares surged 7.8% after it reported a 24% rise in net profit for Q3FY25 to Rs 3,354 crore, with a marginal 0.5% increase in revenue. The company's strong performance was highlighted by improved margins and significant deals worth $3.5 billion, despite a seasonally weak quarter.
HDFC Life surges on brokerage signals
Nomura upgraded its rating on the stock from 'Neutral' to 'Buy'. The brokerage said that the impact of surrender value, higher valuations and the slowdown in growth has already played out as the stock has underperformed the benchmark Nifty Index in the last three months.
Tata Motors shares rally 4% to fresh 52-week high on Nomura upgrade
Tata Motors shares surged nearly 4% on Thursday, reaching a new 52-week high of Rs 1,067 on BSE. This followed Nomura's upgrade of the Nifty stock to buy, setting a target price of Rs 1,294. Nomura cited Tata Motors' shift from premium to luxury vehicles as key to maintaining competitiveness in challenging segments.
Godrej Consumer gains as Nomura upgrades rating
Promoters held 63.27 per cent stake in the company as of June 2017.
Nomura upgrades Punjab National Bank shares to 'buy'
The brokerage said that Punjab National Bank's current valuation at 0.55 times March 2019 book is undemanding.
Nomura upgrades Bank of Baroda to buy
Nomura said Bank of Baroda's NPA coverage is the highest among corporate banks and provides comfort.
Nomura upgrades Godrej Consumer to buy
Following weak first quarter results and due to high valuations, the stock has corrected around 8% from its high in July this year and as the long term story is intact.
Business cycle in recovery mode: Nomura
A rising number of upgrades compared with downgrades so far in 2015 could mean a gradual improvement in the business cycle.
Broker picks: Nomura upgrades Havells
Nomura has upgraded Havells India to ‘Buy’ from ‘Neutral’ rating with a target price of Rs 802.
Brokers’ Call: Nomura upgrades Exide to buy
Nomura Equity Research has upgraded Exide Industries from ‘Neutral’ to ‘Buy’ with a target price of Rs 151.
Nomura upgrades Exide Industries to buy on outlook
Nomura upgrades battery maker Exide Industries Ltd to "buy" from "neutral" and raises it target price to Rs 151 from Rs 143.
Nomura upgrades L&T to 'neutral'
Nomura has upgraded Larsen & Toubro rating to ‘Neutral’ from ‘Reduce’ with a target price of Rs 1,454 after stock underperformed against Sensex so far this year.
Nomura upgrades Hexaware to 'buy'
Nomura has upgraded the ratings of Hexaware Technologies to ‘Buy’ and set a target price of Rs 105.
Brokers’ call: Nomura upgrades Yes Bank to ‘buy’ from ‘neutral’
Nomura has upgraded the ratings of Yes Bank to ‘Buy’ from ‘Neutral’ and has increased the target price to Rs 615 from Rs 425.
Broker's call on Tata Motors, Cipla and GSK Consumers
Morgan Stanley upgraded Tata Motors to ‘Overweight’ on hopes of a cyclical recovery in profitability of Indian auto industry.
Nomura upgrades state-run OMCs to 'neutral'
Nomura has upgraded India's state-run oil marketing companies to "neutral" from "reduce" on the back of higher refining margins.
Nomura upgrades SAIL to 'BUY'
Nomura Equity Research has upgraded its recommendation on SAIL to ‘BUY’ from its earlier view of reduce. It has set a revised price target of Rs 250 on the stock.
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