Coforge shares surged 14% over the last two trading sessions, reaching a new 52-week high of Rs 7,755 during Thursday’s trading on the BSE. This increase follows the company’s announcement of a profit after tax of Rs 233.6 crore for the second quarter of FY25, marking a 24.3% year-on-year rise compared to the same quarter … Read more
Shares of India’s third largest IT company HCL Technologies jumped 1.3% to its day’s high of Rs 1,880.65 on the BSE after reporting a 10.5% jump in its September quarter consolidated net profit to Rs 4,235 crore, up from Rs 3,832 reported by the company in the year-ago period. Following the quarterly results, various brokerage … Read more
Backing Asset Management Companies (AMC) in India with sustainable valuations, global brokerage firm Nomura has initiated coverage on HDFC AMC and Nippon Asset Management (NAM) with buy ratings and on UTI AMC with a neutral rating, predicting an upside potential of up to 21%. The target price for HDFC AMC has been set at Rs … Read more
Brokerage firm UBS has a sell view on SBI Cards, Nomura has a neutral rating on IndusInd Bank. Meanwhile, Morgan Stanley and Macquarie have an overweight and outperform rating respectively on ICICI Bank. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: UBS on SBI Cards: Sell| Target … Read more
New Delhi: India and Vietnam are gaining the most from the China plus one strategy, which is also expected to unlock new growth opportunities for Asian economies, according to Nomura. India’s exports will likely surge to $835 billion by 2030 from $431 billion in 2023 with its large domestic market helping attract firms looking for … Read more
Telecom operator Vodafone Idea today found another backer when global broking firm UBS upgraded the stock to buy with a target price of Rs 18, saying that it is expecting relief on government dues as well as a mobile price increase. Following the upgrade, the stock jumped over 5% to Rs 14.82. “We believe the … Read more
Brokerage firm JPMorgan maintained an overweight rating on LIC Housing Finance, Nomura has a buy rating on Info Edge, BofA Securities recommended a buy on Biocon and Jefferies upgraded M&M to buy. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: JPMorgan on LIC Housing: Overweight| Target Rs … 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
Nomura on Friday forecast the U.S. Federal Reserve delivering a 100-basis-point interest rate cut in 2024 and reducing the pace of balance-sheet rundown in June, followed by an end to quantitative tightening in December. “We expect Friday’s PCE (personal consumption expenditures) report to show the 3m and 6m annualized pace of core PCE running below … Read more
SoftBank sold a partial stake in food delivery platform Zomato through bulk deals on Wednesday. The transaction was done at Rs 94.7 apiece, taking the deal value to Rs 947 crore. According to exchange data, SoftBank Vision Fund has offloaded 10 crore shares or 1.17% stake in the company as the lock-in for the post-Blinkit … Read more