Mumbai: Shareholders of Butterfly Gandhimathi Appliances have rejected the company’s merger proposal with Crompton Greaves Consumer Electricals. In the shareholders’ meeting held on October 28, about 96% of the non-institutional public shareholders voted against the resolutions, even though 63% of institutional investors favoured it. “While the approval to the scheme from the majority in number … Read more
Infosys, NTPC and Hindustan Unilever were among the top large-cap stocks fancied by mutual funds in April, while reducing positions in SBI, Axis Bank and ICICI Bank. Overall, in the reporting month, mutual funds sold stocks worth Rs 5,100 crore while FIIs bought Rs 12,400 worth stocks in the secondary market, according to a report … Read more
NEW DELHI: Domestic brokerage firm Kotak Institutional Equities has reduced stake in four IT stocks – , TCS, and – and picked speciality chemical stock SRF in its model portfolio. “We include SRF (150 bps) bps) in the portfolio. SRF stock is trading at 25.2X FY2024E EPS and its valuations have become more reasonable after … Read more
Notwithstanding the upheaval on Dalal Street amid a rise in the US dollar index, domestic brokerage Prabhudas Lilladher has increased its Nifty target to 20,057, signalling an upside potential of 14.5 per cent for June 2023. “Nifty EPS has seen only minor tweaks in the current quarter with 13.2% EPS CAGR over FY22-24 with FY23/24 … Read more
By Jacqueline P Mundkur This year as we in India shrug-off the dampening effects of the pandemic, we head into the festive season with cautious optimism. Festivals are anyway a time to refresh and recharge and this optimism stems from reliable forecasts, which suggest that consumers will be more apt to loosen their purse strings … Read more