The initial public offer (IPO) of Cello World will open for subscription on Monday. The company has fixed a price band of 617-648 per share for its offer. Ahead of the issue opening, the company’s shares are commanding a healthy premium of Rs 90 in the unlisted market. The stationery maker has raised Rs 567 … Read more
Brokerage firm HSBC maintained a buy rating on Tata Chemicals and it also has a buy rating on M&M. Motilal Oswal recommends a buy on HDFC Bank, and Emkay has a buy rating on SBI Life.We have collated a list of recommendations from top brokerage firms from ETNow and other sources: HSBC on Tata Chemicals: … Read more
“I think rate cut, again expectations have been also sort of pushed beyond because we do not expect the US Fed to sort of cut rates because that will sort of put pressure on the currency,” says Pankaj Pandey, Head Research, ICICIdirect.com.What is the market expecting from the RBI policy, a status quo and I … Read more
Indian market is likely to consolidate on Tuesday tracking muted global cues. The S&P BSE Sensex rose more than 200 points while the Nifty50 closed just a shade below 19,600 levels in the previous trading session. India VIX was up by 5.04% from 10.57 to 11.10 levels in the previous session. Volatility moved from lows … Read more
SBI Life on Tuesday reported a net profit of Rs 381 crore for the quarter ended June. This is higher by 45% compared with Rs 263 crore in the year-ago period. The net premium income rose 19% year-on-year to Rs 13,104 crore for the first quarter. It was Rs 11,036 crore in the last year … Read more
Billionaire Mukesh Ambani, the king of disruption, is at it once again. Just when Bajaj Finance became India’s most valued NBFC following a $40 billion reverse merger of HDFC with HDFC Bank, Reliance Industries (RIL) has already fired a $20 billion salvo to change the pecking order in the world of shadow lenders. Following a … Read more
Ace investor Ashish Kacholia has added two smallcap multibagger stocks to his portfolio during the June quarter. According to Trendlyne data, Kacholia picked up a 1.6% stake in Ugro Capital and 1.2% in SG Finserve, both companies in which he hasn’t had any holding previously. UGRO Capital is a data tech lending platform that uses … Read more
SBI Life has reported a net profit of Rs 777 crore for the quarter ended March. The profit was higher by 15% compared with Rs 672 crore in the same quarter of last year. The profit was below the ET Now poll estimates of Rs 830 crore. The net premium income for the reporting quarter … Read more
“Improvement in inflation probably is indicating clearly that the need for hawkish monetary policy may not be there for very long. And that did cheer up the market again, both in US as well as other emerging markets plus India,” says Sudip Bandyopadhyay, Inditrade Capital. What changed for the markets in the last couple of … Read more
Mumbai: The recent decline in equities triggered by the crisis in the US banking industry has investors scouring the stock market for potential winners. Though share valuations in India remain expensive despite the recent correction, analysts said there is a growing demand for companies that could withstand the ongoing uncertainty and grow faster when the … Read more