Experts Financial News

Rekha Jhunjhunwala portfolio: DB Realty share price has been in continuous uptrend after ushering into the new financial year 2023-24. After bottoming out at around ₹60 per share levels at the end of March 2023, this Rekha Jhunjhunwala stock today climbed to a new 52-week peak of ₹182.50 on NSE, delivering around 200 per cent return in FY24.

Gujarat Gas ltd saw its share price decline more than 1% in morning trades on Monday. While company had reported better than expected September quarter earnings which analysts attributed to better procurement of spot Liquified Natural Gas cargoes (LNG) cargo. However, many analysts have been tweaking their forward earnings estimates due to subdued volume outlook for industrial PNG (piped natural gas) supplies.

Adani Total has fallen 85% this year, reaches Hindenburg's target price Following this the CJI said that it would ask the registrar to check it and asked the lawyer to mention it tomorrow again and he will look into it. Earlier, market regulator SEBI filed a status report before the Supreme Court apprising it that out of 24 investigations arising out of the Hindenburg report, 22 are final in nature and 2 are interim in nature.

US Federal Reserve is likely done hiking interest rates in the current cycle. The local unit opened at 83.13 a dollar as compared to Friday’s close of 83.29. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03% higher at 105.05.

As the digital currency market continues its dynamic ebb and flow, Solana (SOL) has recently captured the spotlight, surging past the pivotal $42 zone. This impressive momentum has sparked a flurry of speculation and analysis within the crypto community, leading many to ponder a tantalizing question: Could Solana’s robust performance herald its ascent to the coveted $100 mark within 2023?

It’s that time of the year again, when Macquarie Capital’s quants redirect their skills away from trying to solve the financial markets to picking the winning horse for Melbourne Cup.

Bharat Forge Ltd. gained 2.4 per cent to Rs 1055.35 in Monday's trade as of 12:38PM (IST). It hit a high of Rs 1055.7 and low of Rs 1030.65 during the session.

Tube Investments of India Ltd. traded at Rs 3146.4 on BSE at 12:33PM (IST) on Monday, down 1.67 per cent. The stock quoted a 52-week low price of Rs 2375.05 and a high of Rs 3737.15.

Divi's Labs on Monday reported a 29% fall in its consolidated net profit at Rs 348 crore for the quarter ended September 2023. The same stood at Rs 493 crore a year ago. The profit figure was below the ET Now poll estimate of Rs 424 crore. Revenue from operations rose 3% year-on-year (YoY) to Rs 1,909 crore in the July-September period.

Arun Maheshwari, Jt MD & CEO, JSW Infra, says “Q2 is always the weakest quarter in the year and that is why H1 is slightly lower as compared to H2. In any case, we have shown a 26% growth year-on-year basis. We have to look at the similar quarter of last year and the revenue has grown by 29% whereas EBITDA has grown by 33%. Because of higher volume, the total operation cost has gone down. The revenue has gone up and the EBITDA has risen as well.” Your revenue growth this time around was quite solid at above 25% but break it down for us. What was the pricing led growth and what was the traffic or volume growth? The quarter has been very stable as what we have seen because in Q2 we have grown by 26% as compared to the previous year quarter but if I have to look at quarter-on-quarter, there has been a bit of dip in the volume because this is the monsoon quarter in India. It is already factored in. Q2 is always the weakest quarter in the year and that is why H1 is slightly lower as compared to H2.

Marico Ltd. rose 1.3 per cent to Rs 534.6 at 12:48PM hours (IST) on Monday. Earlier in the day, the stock saw a gap up start to the session.

DLF Ltd. rose 0.02 per cent to Rs 595.45 at 12:43PM hours (IST) on Monday. Earlier in the day, the stock saw a gap up start to the session.

Over two days of talks between world leaders, business executives and researchers, tech CEOs such as Elon Musk and OpenAI's Sam Altman rubbed shoulders with the likes of US Vice President Kamala Harris and European Commission chief Ursula von der Leyen to discuss the future regulation of AI.

CRISIL with a ‘sell’ call and ICRA with a ‘reduce’ call and sees 21 percent and 8 percent downside, respectively. "While we are positive on ratings, we are cautious about the non-ratings businesses of both CRISIL (85 percent/70 percent of revenues/EBIT) and ICRA (45 percent/55 percent of revenues/EBIT), which have global market linkage. Reasonable valuations and more confidence in the profitable growth of non-ratings businesses could make us revisit our stance," it said.

₹19,500-18,800 with a negative bias. As the market outlook for the near term is uncertain, experts recommend buying technically and fundamentally sound stocks at the current juncture. Based on the recommendations of several experts, below are 12 stocks that one can consider buying for the next three to four weeks.

BSE and NSE at stellar 28 per cent premium during Monday deals. Cello World shares listed on BSE at ₹831 per equity share and went on to hit intraday low of ₹781.50 apiece within few minutes of stock listing.

The stock, which has advanced 13% in the last six months, is still trading around 34% below its 52-week high level of Rs 224.65. In Q2, the new-age company is expected to report a double-digit year-on-year (YoY) growth in revenue for the September quarter, driven primarily by the beauty and personal care and fashion segments, which are seen growing 21-31%. Nuvama Institutional Equities expects overall gross merchandise value growth of 25% YoY for the Nykaa brand owner. The industry estimates indicated slightly subdued discretionary consumption, primarily on account of a delayed festive season, but Nykaa on the contrary, has witnessed a strong quarter across all verticals, analysts said. Kotak Institutional Equities expects an improvement in the operating margin to 5.9% (up 90/70 bps yoy/qoq), driven by positive operating leverage. After having faced investor wrath in 2022, most new-age companies are seeing a turnaround in 2023 with the likes of Zomato and Paytm leading the way. Zomato, whose shares have already crossed past the listing price of Rs 115, surprised Street by reporting food delivery GOV growth at 20/9% YoY/QoQ. «Unit economics to steadily improve with scale as Zomato unlocks cost efficiencies and as customer willingness to pay for convenience increases. We value Zomato's delivery business at an exit multiple of 52x Sep'25E Ebitda and quick commerce at 9x Sep'25E Sales, to arrive at a price target of Rs165,» Jefferies said. (You can now subscribe to our ETMarkets WhatsApp channel) (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

InterGlobe Aviation (IndiGo) rose 3% to Rs 2,579.4 in Monday's trade on BSE after the airline operator swung to a consolidated net profit of Rs 188 crore from a loss of Rs 1,583 crore a year ago. Its consolidated revenue from operations increased by nearly 20% YoY to Rs 14,944 crore and was a tad higher than the estimated Rs 14,613 crore. Sequentially though, the bottomline was far lower than the Rs 3,091-crore profit posted in the June quarter, while revenue declined by more than 10% since the second quarter is typically a seasonally weak one for the sector. Earnings before interest, taxes, depreciation, amortization and restructuring or rent costs (EBITDAR), surged to Rs 2,446 crore for the quarter, from Rs 229 crore a year ago. The operating margin subsequently expanded to 16.4% from 1.8% a year ago. At 11.10 a.m., the scrip was trading 1% higher at Rs 2,532.7 on BSE. Should you buy, sell or hold IndiGo's stock? Here's what analysts say: BofA Securities BofA Securities maintained a 'Buy' rating on InterGlobe Aviation and raised the target price to Rs 2700 from Rs 2600 earlier. The Q2 PAT beat was largely driven by one-off reversals of provisions and one-off compensations.

Indian Hotels Company Ltd. traded 0.99 per cent up in Monday's trade at 11:47AM (IST). Around 16,474 shares changed hands on the counter.

India's markets regulator said on Monday it will implement a plan to allow the settlement of equity market trades within the same day in a non-disruptive manner and hold back if there are «serious objections» from market participants. Offshore investors were pushing back on the Securities and Exchange Board of India's (SEBI) instant settlement plan on fears that two settlement cycles would lead to a fragmented system and add to the cost of trading, Reuters reported last month. India transitioned to T+1 settlement, where trades are settled within a day, in January. The SEBI now plans to allow instant settlement by October next year as another option. SEBI Whole-Time Member Ananth Narayan acknowledged that the regulator was worried the move would lead to the fragmentation of liquidity. «If there are serious objections, we will not do it, but we are presently exploring instant settlement in a non-disruptive manner,» Narayan said at Mumbai's The Network Forum Asia, a forum of offshore investors and custodian banks.

Aditya Birla Capital with a target price of Rs 220. The current market price of Aditya Birla Capital Ltd.