Nifty Realty down 7% from peak. Can property stocks buck sectoral churning to remain on top?
One of top performing sectors for more than a year, realty, is off its high point. Nifty Realty index, which represents a pack of top 10 real estate stocks, has declined 7% over the last three months, thanks to the election season which has slowed project approvals and launches. As markets are on a lookout…
READ MORE
RIL bonus share issue, deep-tech makeover fails to move target prices higher
Notwithstanding retail investor’s enthusiasm over bonus issue announcement, the annual general meeting (AGM) of Reliance Industries (RIL) lacked any near-term catalysts for brokerages to raise their target prices higher. The listing of RIL’s consumer facing businesses – Reliance Jio and Reliance Retail – can lead to re-rating of India’s most valued stock but billionaire Mukesh…
READ MORE
JM Financial initiates coverage on 5 real estate stocks, expects ‘home-run’ to continue
Expecting the growth momentum to continue in FY25 and favouring developers with a history of timely launches and strategic business development, domestic brokerage firm JM Financial initiated coverage on DLF, Keystone, Macrotech, Oberoi Realty and Sobha. FY24 was the best-ever year for absorption across residential real estate with pan-India sales crossing a billion square feet…
READ MORE
Nifty Bank Reshuffle: State-run Canara Bank makes entry while Bandhan Bank pushed out
PSU stock Canara Bank has entered the Nifty Bank index at the cost of Bandhan Bank as part of the semi-annual rejig. Canara Bank’s average free-float market capitalisation stood at Rs 38,973 crore over six months as against Bandhan Bank’s Rs 15,945 crore. With its inclusion, Canara Bank is expected to receive flows of $…
READ MORE
Q1 results today: Hindalco, Nykaa among 660 companies to announce earnings on Tuesday
The first quarter earnings season is almost coming to an end and as many as 660 companies will announce their quarterly numbers on Tuesday. Key results to watch out include Hindalco, Nykaa, Hero MotoCorp, Apollo Hospitals and IRCTC. Apart from the above, companies like Samvardhana Motherson, Muthoot Finance, SJVN, Max Financial Services, Gujarat Fluorochemicals, Endurance…
READ MORE
Q1 results today: IRFC, Vodafone Idea among 528 companies to announce earnings on Monday
The first quarter earnings are coming to a fag end and as many as 528 companies will announce their quarterly numbers on Monday. Key results to watch out for include that of IRFC, Vodafone Idea, NMDC, Hudco, SJVN and Voltas. Apart from the above, companies like AIA Engineering, Endurance Technologies, Nalco, Hindustan Copper, ITI, Natco…
READ MORE
firstcry ipo: FirstCry IPO: Retail portion fully subscribed on day 2. Check GMP, other details
Retail portion of the initial public offering (IPO) of Brainbees Solutions was fully subscribed at 106% on the second day of the issue. The parent company of FirstCry received over 95.44 lakh consolidated share bids against 90,12,317 shares available for subscription in the category. Meanwhile, the response to the overall issue remained lackluster at 30%….
READ MORE
Coal India shares rally 3% after target prices go up to Rs 600 on Q1 beat
Shares of the state-owned Coal India on Thursday rallied 3% to its fresh 52-week high of Rs 539.90 after the company reported 4% year-on-year (YoY) growth in its consolidated net profit to Rs 10,959 crore for the quarter ended June 2024. Revenue from operations during the April-June 2024 period was up marginally to Rs 36,465…
READ MORE
SBI Life shares climb 3% to 52-week high after Q1 results. Should you invest?
Shares of SBI Life climbed 3% to hit a 52-week high at Rs 1,684 in Thursday’s trade on BSE after the firm reported a standalone net profit of Rs 520 crore for the first quarter ended June 2024. This is a growth of 36% from Rs 381 crore posted in the same quarter last year….
READ MORE
suzlon energy shares: JM Financial increases target price for Suzlon; sees upside potential of up to 14%
Domestic brokerage firm JM Financial increased the target price for Suzlon Energy’s stock to Rs 71 from an earlier Rs 54 after the company reported a stellar performance for the first quarter ended June 2024. “We believe that gradual building of momentum for higher execution, healthy order book, more healthy bid pipeline, strengthening of balance…
READ MORE