The finance ministry’s notification on sharp rise in excise duty for cigarettes is “clearly negative” for ITC in the near term, Jefferies has warned, flagging a meaningful hit to volumes and earnings even as it keeps its positive stance on the stock. Jefferies describes the move as “a meaningful negative surprise for the legal cigarette … Read more
Synopsis In recent times, the ITC stock has witnessed a significant rally, outperforming the benchmark Nifty 50 and the Nifty FMCG index. From January 1, 2022, to June 30, 2022, the stock has yielded a double-digit return of 25.4%, while the benchmarks BSE Sensex and Nifty 50 have generated negative returns of 9% each. The … Read more
Indian market snapped its three-day losing streak on Monday supported by positive global cues. The S&P BSE Sensex rallied more than 300 points while Nifty50 closed above 15,800 levels. Sectorally, buying was seen in FMCG, banks, capital goods, and consumer durable stocks while selling pressure was seen in metals, energy, oil & gas and IT … Read more
NEW DELHI: Last month, a technical analyst from a prominent Mumbai brokerage posted a peculiar stock recommendation on his WhatsApp account: CMP: Rs 200 Resistance: Rs 200 Support: Rs 200 Target: Rs 200 Stop loss: Rs 200 Stock: ITC This ridiculous recommendation was obviously not serious, but in jest. Though, it was just one of … Read more
MUMBAI: Concerns over an emerging second Covid-19 wave and nervousness ahead of the outcome of the US Federal Reserve’s policy meeting tonight weighed on benchmark equity indices today. The broad-based selling saw largecap, midcap and smallcap stocks take deep cuts with four stocks falling for every one stock that rose on the National Stock Exchange. … Read more