Shares of PepsiCo bottler Varun Beverages (VBL) jumped 5.5% on BSE today to the day’s high of Rs 1,558.45 after reporting an increase of 25% year-on-year (YoY) in March quarter PAT to Rs 548 crore. The brokerages have increased the target price for the stock post earnings announcement. The company’s revenue from operations in Q1 … Read more
Brokerages remain bullish on State Bank of India(SBI) after the lender made a swift recovery in earnings reporting a standalone net profit of Rs 20,698 crore in Q4, up 24% YoY. The estimates on the target price for SBI go as high as Rs 1,000. The profit was higher than the Street estimate of Rs … Read more
Shares of Godrej Properties jumped 9.7% in today’s session on BSE to a new all-time high of Rs 2,816.90 after brokerages increased target prices for the stock following a 14% year-on-year (YoY) growth in its consolidated net profit at Rs 471 crore for the quarter ended March 2024. The realty player has clocked the highest … Read more
Nearly 43 lakh new demat accounts were added in February taking the overall tally to 14.80 crore accounts according to estimates by Motilal Oswal. Meanwhile, the average monthly additions were 21 lakh in FY23. Central Depository Services (India) Limited continued its market dominance gaining market share in February 2024 in terms of the total number … Read more
A reversal in demand patterns and high growth potential are strong catalysts for the two-wheeler industry, Motilal Oswal said in a note as it expects a relatively better scope for growth in 2Ws over FY23-26E. The brokerage picks Hero MotoCorp among its preferred buys in this space while choosing Tata Motors as a passenger vehicle … Read more
The promoters of Motilal Oswal — Motilal Oswal and Raamdeo Agrawal — have proposed to donate 5% of their stake each for charitable purposes. The total equity sale comes to about 10% of the company. The endeavor is to spend the entire donation amount in the next 10 years or preferably earlier. “This decision reflects … Read more
New Delhi, Indian IT services companies are expected to log a muted show in June quarter with wage hikes keeping margins under pressure amid weak macro overhang, cuts in discretionary spends, and project delays, say analysts. Some brokerages, in fact, have cautioned that pain will continue for the tech pack up ahead, as recovery is … Read more
Brokerage Motilal Oswal has reiterated a ‘Buy’ on One 97 Communications stock, estimating gains of over Rs 180 per share or 21% from current levels. The brokerage has fixed a price target of Rs 1,050. The stock currently trades at Rs 868 apiece. The stock has delivered returns of 34% since Motilal Oswal initiated coverage … Read more
Even as Sensex and Nifty are touching all-time high peaks every day, domestic brokerage firm Motilal Oswal on Monday said the valuations are far more reasonable now than that during October 2021 high. “As the benchmark soars to a new high, the Nifty trades at a 12-month forward P/E of 18.8x, at a 6% discount … Read more
Headline index Nifty on Tuesday formed a small Doji candlestick formation, indicating indecisiveness between bulls and bears. Now, it needs to hold above 17717 zones to witness an up move towards 17850 and 17950 zones, while on the downside supports are placed at 17620 and 17550 marks, said Chandan Taparia of Motilal Oswal. India VIX … Read more