FINANCING
These large-caps have ¡®strong buy¡¯ & ¡®buy¡¯ recos and upside potential of more than 28%
There is a very old theory on the street: When the market does not decline on bad news, it is probably the first indication that the bulls are round the corner. The street reacted to the lower-than-expected GDP numbers as if nothing significant had happened. It suggests that in the two months of relentless selling by FIIs ¨C which saw the Nifty and the broader market correct significantly ¨C a part of this news was already priced in. So there is a real possibility that the bulls might now make a determined comeback attempt.ET Screener powered by Refinitiv¡¯s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of ¡°buy¡± or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
Block deal alert: BofA, Goldman Sachs, others buy shares worth Rs 1,100 crore in Home First Finance
Home First Finance witnessed a block deal on Monday, with shares worth Rs 1,100 crore being sold by promoter entities. Buyers included foreign institutional investors like BofA Securities Europe, Goldman Sachs, Citigroup, Norges Bank, and Prudential Hong Kong, along with domestic investor HDFC MF. The shares were sold at around Rs 990 apiece.
Sebi orders attachment of bank, demat accounts of Anil Ambani's Reliance Big Entertainment
Capital markets regulator Sebi on Monday ordered the attachment of bank accounts as well as shares and mutual fund holdings of Reliance Big Entertainment to recover dues of Rs 26 crore.
RBL Bank shares down nearly 5% on ending credit card partnership with Bajaj Finance
RBL Bank Share Price: RBL Bank shares fell 5% after ending its credit card partnership with Bajaj Finance. Brokerages downgraded RBL¡¯s target price, while Bajaj Finance also saw a decline in shares.
Share price of Shriram Finance as Nifty
A total of 5,043 shares changed hands on the counter till 10:05AM (IST).
Stocks in news: Greaves Cotton, Biocon, Tata Motors, Hyundai, Cipla
Markets advanced nearly 1% last week, recording a two-week rally. Focus today includes Greaves Cotton's IPO plan for its subsidiary, Biocon's USFDA approval, Tata Motors' sales rise, and Cipla's block deal stake sale. Eicher Motors' strong sales of Royal Enfield and Cochin Shipyard's defense contract also grab attention.
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Nifty begins December series at higher open interest base, suggests F&O rollover data. What does this indicate?
Nifty futures start the December series with a higher OI base of Rs 30,800 crore. Rollovers are at 79%, higher than the three-month average. Market-wide futures OI is at Rs 4.4 lakh crore, and rollovers are at 89%. Bank Nifty rollovers are at 76.8%, above the three-month average. Nuvama expects Nifty to trade in a range of 23,450-25,000 with heightened volatility.
True North, two others to sell stakes worth Rs 1,267 crore in Home First Finance: Report
Home First Finance promoters are likely to sell a 14.7% stake via a block deal on Monday. The floor price is set at Rs 968, an 8% discount to the current market price. Kotak and Nomura are the brokers for the deal.
Share price of Shriram Finance as Nifty
A total of 17,258 shares changed hands on the counter till 01:32PM (IST).
Sonata Software shares jump 3% on winning multi-million dollar modernisation deal in Australia
Sonata Software's shares rose over 3% after securing a multi-million dollar deal with an Australian access solutions leader. The deal involves modernizing the client's business processes across 13 Asia-Pacific countries using Microsoft Dynamics 365.
Red alert! 72 companies flip to loss in Q2. Are your stocks also on this list?
India's Q2 2024 earnings season disappointed. Many profit-making companies reported losses. Nifty earnings grew at the slowest pace since June 2020. Analysts point to a slowdown in several sectors. However, experts predict a recovery in the second half of the fiscal year. Increased government spending and strong festival demand are expected to boost growth.
Crisil downgrades Fusion Finance¡¯s debt
Crisil Ratings downgraded Fusion Finance's long-term bank loan facility of Rs 8,000 crore to 'A' and placed it under rating watch, while also lowering the rating on its Rs 50 crore commercial paper to 'A1'.
Market Wrap: Banks, auto stocks lift Sensex 230 points, Nifty above 24,200
Markets closed higher, but Nifty saw mixed action with 25 stocks in the green and 25 in the red. Top gainers included Adani Enterprises, Adani Ports, Bharat Electronics, Trent, and NTPC, while Apollo Hospitals, Titan, Wipro, Shriram Finance, and Hindalco led the losers.
Gautam Adani faces no bribery charges: Adani Group
Executives at Adani Green Energy, including Gautam Adani, face US charges. These relate to securities and wire fraud. Bribery charges under the FCPA were not filed. The company denies wrongdoing and plans a legal defense. The case involves allegations of a USD 265 million bribery scheme. This scheme aimed to secure solar power contracts in India.
Hindujas in talks to raise 2nd tranche of Rs 4,300 crore
The first tranche amounting to ?3,000 crore was raised from Barclays and 360 One in September, as reported by ET. The second round had been delayed pending approval from the Department for Promotion of Industry and Internal Trade (DPIIT), people cited above said.
Daily Trading Desk: 2 trades for short-term gains; an IT major for over 4% upmove, large-cap NBFC stock for 6% gain
Select stocks gain momentum even in volatile markets.
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 52%
In times like these, when investors look at their mobile phones and worry about the decline in the value of their portfolios, remember one thing. The market has its cycles, but the fundamentals of an industry have different cycles. Focus on industry cycles rather than market cycles ¨C the latter will repeat many times in a year. It is what happens to the fundamentals of an industry that will finally determine the stock price. Our list of stocks today depict a strong upward trajectory in their overall average score which is based on five key pillars ¨C earnings, fundamentals, relative valuation, risk, and price momentum. This implies that there has been a significant improvement in their market outlook in the given time.
Market Wrap: RIL, IT stocks fire Sensex 1,960 points higher, Nifty tops 23,900. Top 6 factors behind the bull run
Stock Market Today: Indian equity markets surged over 2,000 points, rebounding from a five-month low, driven by positive US job market data and a rally in IT and Adani stocks. Investors capitalized on recent declines, buying into a market buoyed by global gains and a resurgence in PSU bank stocks.
For investors with ability to be contrarian: 5 stocks from different segments of the financial sector with upside potential above 31%
Financial services ¨C it¡¯s a broad umbrella term under which we tend to club a host of companies. But just because we call them financial services, it would be unwise to view them through the same lens. Each segment is an industry in itself, and governed by different operating matrices. For example, a housing finance company may be happy with 10% net margins, but for an average asset management company (AMC) the figure would be over 30%. Similarly, gold loan companies have great NPA provisioning abilities ¨C but their margins are not very high. Also, their ability to skirt regulations is higher than most others. There is, however, one thing common to the companies in the financial space. All of them have been through a process where the RBI or some other regulator has had a close look at them. Is that process over? Has the time come to look at them without bias and fear?
Tata Power shares jump 2% after signing $4-billion financing pact with Asian Development Bank
Tata Power's shares rose 2% after the company partnered with the Asian Development Bank to explore financing options for renewable energy projects worth $4.25 billion. The projects include a solar-wind hybrid venture and a pumped hydro storage project, aligning with India's goal of 500 GW renewable energy capacity by 2030.
PFC to trade ex-dividend from Monday. Last day to buy shares for eligibility
Power Finance Corporation (PFC) is approaching its ex-dividend date of November 25th, with a planned dividend payout of Rs 3.5 per share. Investors purchasing PFC shares before the ex-dividend date are eligible for the dividend. Several other companies, including Balrampur Chini Mills, EPL Ltd, and Ipca Laboratories, are also approaching their ex-dividend dates.
Muthoot Finance shares zoom 7% after Q2 profit jump 21% YoY; Morgan Stanley lifts target price to Rs 1,600
Muthoot Finance reported a 21% increase in consolidated net profit for Q2, reaching Rs 1,321 crore. This growth was driven by a 37% rise in total revenue, reaching Rs 4,929 crore. Consequently, Morgan Stanley upgraded the company to 'Equal-weight' from 'Underweight', raising the target price to Rs 1,600 from Rs 1,430.
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 52%
Whether the market is in the grip of bulls or bears, investors need to be cautious and selective. And when the street is bearish, be careful not to get caught up in short-term narratives and sell at the wrong time. Also, to avoid the urge to average out. While the worst is probably over in the current correction phase, there is a new US administration set to take over and the global markets may still see a readjustment. As an investor, look at sectors and companies in terms of their operating and valuation matrices. If the operating matrix is improving, that¡¯s good. Our list of stocks today depict a strong upward trajectory in their overall average score which is based on five key pillars ¨C earnings, fundamentals, relative valuation, risk, and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Ignore Nifty, stick to basics of business: 6 stocks from different sectors with an upside potential of up to 42%
When there is a correction and the market breadth is as bad as it has been these past few weeks, it is difficult to stay rational. Yet, the need to stay rational is the highest at this point of time. This is when you need a strong enough reason to buy a stock ¨C and an equally strong reason to sell a part of your portfolio. In the latter case, the fear is that you might end up selling early. For those who think that is not a major issue, just recall the events of 2022 at the start of the Ukraine war. All those who sold in panic then have only earned regrets as returns.
Manappuram Finance among 4 stocks to trade ex-dividend from Monday. Last chance to buy
Four companies, including Manappuram Finance, are approaching their ex-dividend date on November 18th. Investors have until today to purchase shares and qualify for dividend payouts. CFF Fluid Control, Emami Ltd, and Sundaram Fasteners also announced their respective interim dividends.
Morgan Stanley, 2 others pick 6.8% stake in PNB Housing Fin for Rs 1,664 crore
Morgan Stanley, Societe Generale and another entity on Wednesday picked up a total of 1.77 crore, or 6.82 per cent stake, of PNB Housing Finance through open market transactions worth Rs 1,664 crore. According to bulk deal data available on the National Stock Exchange (NSE), Morgan Stanley through its arm Morgan Stanley Asia Singapore purchased over 1.42 crore shares or a 5.4 per cent stake in PNB Housing in two transactions.
Macquarie initiates coverage on power stocks: NTPC, PFC, REC, and Power Grid could give 18-30% return
Macquarie initiates coverage on India's power sector giants, expressing optimism for NTPC, PFC, REC, and Power Grid. The brokerage cites their roles in energy security, renewable transition, and power financing as key growth drivers, assigning "Outperform" ratings and predicting significant upside potential for each company.
Nisus Finance Services secures BSE approval to launch IPO
Nisus Finance Services has received Bombay Stock Exchange approval for its IPO, offering 65 lakh equity shares. Proceeds will enhance infrastructure, obtain licenses, fund expansion in global hubs, and support general corporate purposes and fundraising costs.
Bandhan Bank, small finance banks see higher slippages as microfinance lending persists
Bandhan Bank and other small finance banks that transitioned from microfinance faced higher slippages in Q2. Despite efforts to reduce micro-ticket lending and increase secured portfolios, 75-80% of fresh slippages originated from the microfinance business
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