Equity benchmarks resumed their decline on Wednesday amid sluggish trends in global markets. The 30-share Sensex plunged 551 points to settle at 65,877, while the Nifty declined 140 points to end at 19,671. Stocks that were in focus included names like Ultratech, which fell 0.17%, Maruti Suzuki, which gained 0.23%, and Trident, whose shares dropped … Read more
On the valuation front, considering its estimated FY25’s earnings, the stock of UltraTech is trading at an EV/Ebitda of 14.4. Synopsis For the past four quarters, margins of cement firms have been largely impacted by high raw material costs. But in the year-to-date (YTD) period in 2023, pet coke and thermal coal prices have fallen … Read more
Brokerage firm Morgan Stanley has an ‘Overweight’ stance on IndusInd Bank, Nomura has recommended a ‘Buy’ rating on Samvardhana Motherson and Morgan Stanley has initiated a ‘Buy’ rating on AU Small Finance Bank. CLSA picks Dalmia Cement and UltraTech as preferred bets in the cement sector. We have collated a list of recommendations from top … Read more
Brokerage firm Goldman Sachs initiated a ‘Buy’ stance on UltraTech Cement and KPIT Technologies. Morgan Stanley remains ‘Underweight’ on India’s largest non-agri commodity index, MCX. We have collated a list of recommendations from top brokerage firms from ETNow: Goldman Sachs on UltraTech Cement: Buy | CMP: 8,458.90 | Target: Rs 8,720Goldman Sachs has given a … Read more
Mumbai: Almost a generation of market participants have been trained to abide by the golden rule: don’t fight the Fed. But, an army of investors and traders these days is defying this tenet, even as the American central bank retains its hawkish policy tone. The Sensex and Nifty on Friday closed at record levels just … Read more
Cement makers such as UltraTech, Shree Cement and JK Lakshmi, which have cost-efficient operations, are likely to emerge as beneficiaries. Synopsis Demand from the housing sector, which forms two-thirds of the total demand for cement, has not improved materially. Therefore, there is still high dependence on government-funded infrastructure projects. ET Intelligence Group: Cement prices remained … Read more
“In case of deletions, the index provider has decided to delete Adani Transmission and Adani Total Gas and Indus Towers as well. In case of Adani Group of stocks, in case of Adani Transmission, the net outflow is to the tune of 190 million dollars. In case of Adani Total Gas it is 170 million … Read more
Indian market is expected to trade higher on Tuesday tracking positive global cues. The S&P BSE Sensex rose more than 100 points while the Nifty50 failed to close above the 17000 mark in the previous session. India VIX was up by 1.35% from 15.24 to 15.44 levels on Monday. Volatility has been on the rise … Read more
“Not factoring in any international events that are very disruptive, the indices are seen to move up higher next week,” says Vinit Bolinjkar, Ventura Securities. Does it feel that the market is out of the slumber for sure and now we are headed for 18,000 or higher levels? There are a couple of things which … Read more
Will the Nifty be able to end its six-day losing run? The index looks oversold in the short-term on technical and derivative fronts, but with the index breaking below the key support of 17,500, analysts are not ruling out further downside. Reliance Industries, TCS, L&T, Axis Bank, NTPC, ONGC, UltraTech, and Maruti are some stocks … Read more