Sanjiv Bhasin, Director, IIFL Securities, says “Idea can be a very good takeover target or there could be a strategic buyout. Idea is going to go to 22-25. So, take a small punt. I think Idea can be a very big wealth creator if my call is correct. So, 22-25 on Idea betting on a … Read more
The record-breaking rally in Nifty may extend to 19,800 levels, said technical analysts. The index closed at an all-time high of 19,564.50 on Friday as foreign portfolio investors stayed bullish on the market. Stocks such as ICICI Bank, National Aluminium, Tech Mahindra, Hindalco, Bajaj Finance, Tata Steel, Infosys, Glenmark, Zee, and Hero Motocorp have formed … Read more
” Reliance is the heaviest weighted counter in Nifty and it has been a thing that whenever market needs a strong support when every other counter is lacking strength then Reliance comes back into action,” says Aditya Arora, Adlytick.Have we missed the big move on Reliance or it is just breaking out? Should any pullback … Read more
Brokerage firm JPMorgan downgraded Vedanta to a neutral rating, maintained underweight stance on Hindustan Zinc and retained overweight on Hindalco. Citi downgraded AU Small Finance Bank to neutral and Macquarie has an underperform rating on Info Edge. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:JPMorgan on Vedanta … Read more
Brokerage firm Goldman Sachs remained neutral on Nykaa, Macquarie maintained a neutral rating on Reliance Industries, Jefferies has a buy rating on Delhivery, CLSA maintained a buy rating on Hindalco, and UBS resumed a sell rating on Tata Motors. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: … Read more
After Hindalco Industries posted a 48% fall in its standalone Q4FY23 net profit on Wednesday, CLSA maintained a ‘Buy’ rating on the metal stock while Kotak recommends an ‘Add’. Meanwhile, Nuvama has a ‘Hold’ stance on the counter. Hindalco’s profit after tax (PAT) stood at Rs 832 crore for the quarter ended March. It was … Read more
“In case of deletions, the index provider has decided to delete Adani Transmission and Adani Total Gas and Indus Towers as well. In case of Adani Group of stocks, in case of Adani Transmission, the net outflow is to the tune of 190 million dollars. In case of Adani Total Gas it is 170 million … Read more
Last calendar year was a rough year for Indian metal stocks, and all the hopes that 2023 will bring some respite for the beaten-down sector are down in the doldrums as of now. In CY23, the Nifty Metal index recorded a decline of roughly 15%, making it the second worst performer, with Nifty Media leading … Read more
A benign US dollar could be good news for metals and one stock that may see a pullback due to this is Hindalco Industries. The share has a potential upside of 6% in the near term based on current momentum. Hindalco shares have underperformed not just the Nifty50 but also the Nifty Metal Index in … Read more
Indian market closed in the red for the 5th consecutive day in a row on Wednesday tracking muted global cues. The S&P BSE Sensex fell more than 300 points while the Nifty50 closed below 17,000 on Wednesday. Sectorally, buying was seen in utilities, power, metals, and consumer durable stocks while selling was visible in telecom, … Read more