Nine new stocks will be part of the MSCI India Index as the rejig comes into effect from Thursday. These stocks are IndusInd Bank, Suzlon Energy, Persistent Systems, APL Apollo, Polycab, Macrotech Developers, Tata Motors A, One 97 Communications (Paytm), Tata Communications. Moreover, seven stocks viz. Zomato, Hindustan Aeronautics (HAL), Jio Financial Services, Vedanta, PFC, … Read more
Midcap stocks with lower free float outdid their peers in the past six months in terms of returns, according to an analysis by Kotak Institutional Equities. State-run Mazagon Dock Shipbuilders and Indian Railway Finance Corporation (IRFC) occupy top slots in the list of 20 best-performing midcap stocks, which also features Fertilizers and Chemicals Travancore (FACT), … Read more
Brokerage Kotak Institutional Equities has increased its weight on consumer plays Britannia Industries and Godrej Consumer Products (GCPL) as it tweaked its largecap portfolio while lowering weightage for Macrotech Developers, even as the domestic brokerage remains positive on the residential real estate space. Kotak has increased weights by 20 bps on Britannia Industries and GCPL … Read more
Franklin Templeton Asset Management sold 0.1% of its holding in LIC last month, while Union Mutual Fund exited the company by selling all its holdings. One other D-Street favourite that was dumped by MFs was Radhakishan Damani’s Avenue Supermarts. Indiabulls Mutual Fund, Union Mutual Fund, and Groww Mutual Fund were sellers in the D-Mart retail … Read more
Benchmark Sensex spurted 418 points to settle at more than six-month high while Nifty closed above the 17,700 mark on Tuesday on positive domestic macroeconomic data and gains in global markets.Buying in index majors Reliance Industries and ITC also added to the optimism in equities. Climbing for the second straight session, the 30-share BSE Sensex … Read more
Jefferies’ Global Head of Equity Strategy Christopher Wood has picked food delivery app Zomato for his India long-only portfolio. The weight of the stock will be 4%. On the other hand, Wood has removed HDFC Life Insurance from the same. Zomato has also been added to the global long-only equity portfolio, which will be paid … Read more
Marcrotech Developers today reported a 40% YoY jump in its FY23 PAT (adjusted for forex and exceptional items) at Rs 1,769 crore on the back of record pre sales. The net profit for the March quarter stood at Rs 751 crore. The Q4FY23 pre sales were worth Rs 3,025 crore while the annual pre-sales jumped … Read more
“KPIT had a different story going for it because of their work on the EV automation side and the kind of order flows they were getting,” says Sandip Sabharwal, asksandipsabharwal.com.Although there may be two holidays this week, it is a pretty critical one. You have that surprise move by OPEC, RBI policy, the cue for … Read more
Shares of realty developer Macrotech Developers (Lodha) surged 43% in the past week as property registrations remained buoyant in Mumbai and Maharashtra in February. Despite the recent rally, the stock has lost nearly 10% on a year-to-date basis. February housing unit registrations in Mumbai were down 7% year-on-year (YoY) but rose 8% month-on-month (MoM) despite … Read more
“Going forward investors need to understand which Adani companies valuation-wise make sense to hold or which to buy at the current levels,” says Neeraj Dewan, Quantum Securities How should one view Adani Group of stocks after GQG buying into these counters? A big renowned fund putting in money in the Adani Group definitely gives some … Read more