The Indian market witnessed the biggest single day fall in over 4 years on Tuesday as the actual election results significantly deviated from the exit polls as well as expectations of market participants. The S&P BSE Sensex plunged over 4000 points while the Nifty50 closed below 22,000 to record its biggest single-session fall in over … Read more
Mumbai: Shares of Tech Mahindra jumped 7.6% as optimism around the company’s three-year growth roadmap outshone concerns over near-term profitability as reflected in the fourth-quarter results, which missed analyst estimates. The stock closed at ₹1,280 and emerged as the top gainer in Nifty on Friday, but the average share price targets mostly suggest limited upside … Read more
Mumbai: Analyst downgrades in earnings estimates of Indian companies for FY24 outnumbered that of upgrades in the past four weeks after the June quarterly results. Out of the Nifty 100 companies, 41 including UPL, Tech Mahindra, Vedanta, SRF, ACC, Grasim, and Tata Steel, among others, witnessed Earnings Per Share (EPS) downgrades for FY24, while 32 … Read more
Mumbai: The likely shift to provisioning based on expected losses from incurred losses could be cumbersome for some public sector and regional private sector banks, according to analysts. Even as most banks have strengthened capital buffers post Covid-19, expected credit loss (ECL)-based norms could release existing provisioning for large banks such as ICICI Bank and … Read more
MUMBAI: , one of the largest conglomerates in the country, will meet hundreds of analysts and institutional investors on Tuesday for its first-ever analyst day meeting. The announcement of the meeting last week sent the company’s stock soaring more than 7 per cent and has led to a build-up of palpable excitement among investors of … Read more
Most brokerages have maintained a bullish view on fast-moving consumer goods giant Hindustan Unilever () after an investor meet where the company highlighted its lead on various counts including digital, market development and the thrust on building categories of the future. Edelweiss and Motilal Oswal have retained buy ratings. IIFL and Kotak Institutional Equities have … Read more