Target Financial News

Ashok Sonthalia, CFO, Titan Company, says “the mid premium, premium, high value segments are showing very good traction, good demand and growth rates are very high in those segments. The growth in consumer numbers is also high. Entry level demand is a little bit dull still. I would say the whole discretionary aspect at the entry price point, the target segment of consumer is yet to see the whole thing panning out, but early signs are very good and we are very positive about Q3 and Q4 shaping up.” Well, the festive season this time is falling in Q3 versus Q2 that we had seen last year. But so far, given that we are halfway through the festive season, what is the demand looking like? Are you seeing that festive cheer and festive mood in the consumer sentiment as well? Yes, from last year, the start period had shifted to Q3 and so the first 15 days were slightly slower and even gold prices have become volatile because of the geopolitical situation outside India.

Suzlon Energy have risen 15 percent in 3 consecutive sessions on the back of robust September quarter results, a strong order book, and healthy debt reduction. Just in today's session, the stock hit its 52-week high of ₹36.16, trading at its 5 percent upper circuit for the third straight session (November 2,3 and 6). The firm posted over 81 percent rise in the consolidated net profit to ₹102.29 crore for September quarter of 2023-24, mainly due to a decline in expenses.

₹33,643 crore as compared to ₹25,684 crore recorded in the same period of last year. Looking at the H1FY24 performance, the 12 PSU lenders posted a net profit of ₹68,061 crore, an increase of 66% over H1FY23's net profit of ₹40,991 crore. Leading the pack is Punjab National Bank, which has demonstrated the highest net profit growth in Q2FY24.

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.

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.

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.

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.

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.

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

Data Patterns (India), one of the country's leading defence electronics companies, spiked up nearly 6% to ₹2,031.35 apiece in early trade on Monday, led by robust performance in Q2FY24. During the September quarter, the company reported a 61% increase in net profit, reaching ₹33.79 crore, compared to a net profit of ₹21.05 crore. The total revenue for Q2 also showed growth, rising by 32% to reach ₹108 crore, up from the previous year's Q2 revenue of ₹88 crore.

Investing.com-- South Korea’s KOSPI index surged over 4% on Monday after the government reimposed a ban on short-selling shares in a bid to level the playing field for retail and institutional investors. 

Director General of Jammu and Kashmir police R R Swain announced a reward of Rs 10 lakh in each of the recent separate targeted attacks in Kashmir in which a head constable of police and a non local labourer were killed and an inspector of police was seriously injured. He said that militant networks won’t accept defeat easily as they have made huge investments in this. The attacks took place around the time, when Swain, a 1991 batch IPS officer, assumed the office of the 17th J&K police chief here in Srinagar on October 31.

Titan Company share price opened with gains of almost 2% on on the BSE on Monday after it reported a better-than-expected September performance led by margins beat. Tata owned-jewellery and watch maker, on Friday had reported a 9.7% YoY rise in its net consolidated profit to ₹916 crore in the September quarter of FY23-24 There was a 21.2% sequential rise in the Titan net profit from ₹756 crore reported in April-June quarter of FY24. Titan’s total consolidated income increased by 37.17% to ₹12,653 in September quarter of FY24, against ₹9,224 crore reported in Q2 FY2022-23.

₹apiece on the BSE. India’s largest commercial bank, SBI reported an 8% year-on-year jump in its net profit for the second quarter of FY24 at ₹14,330 crore from ₹13,264.5 crore in the corresponding quarter of last fiscal. SBI’s net interest income (NII) in Q2FY24 rose 12.3% to ₹39,500 crore from ₹35,183.4 crore in the year-ago quarter.

Investing.com-- The Reserve Bank of Australia is widely expected to raise interest rates when it meets on Tuesday, following signs of a resurgence in inflation and some hawkish comments from central bank officials.

Investing.com-- Most Asian currencies strengthened on Monday, while the dollar hovered near six-week lows as softer-than-expected U.S. payrolls data and less hawkish signals from the Federal Reserve drove up bets that the bank was done raising interest rates.

The S&P BSE Sensex rose nearly 300 points while the Nifty50 closed above 19200 levels. Sectorally, buying was seen in realty, consumer durables, oil & gas, and public sector stocks. India VIX was down by 1.78% from 11.07 to 10.88 levels on Friday. Volatility has been cooling off from the last two sessions and aided in support-based buying in the indices. On the weekly options front, the maximum Call OI is placed at 19300 and then towards 19500 strikes while the maximum Put OI is placed at 19200 and then towards 19000 strikes. Call writing is seen at 19300 and then towards 19400 strikes while Put writing is seen at 19200 and then towards 19150 strikes. “Options data suggests a broader trading range in between 18500 to 19600 zones while an immediate trading range in between 19000 to 19400 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said. “Nifty formed a Bullish candle and an Inside Bar on the weekly frame on Friday but has been forming lower highs for the last two weeks,” he said. “Now the index has to hold above 19200 zones, for an up move towards 19350 then 19442 zones whereas supports are placed at 19150 then 19000 zones,” recommended Taparia. We have collated a list of stocks from various experts for traders who have a short-term trading horizon: Expert: Parag Shah, Technical Analyst – Research, Nuvama Professional Client Group Research told ETBureau Muthoot Finance: Buy| Target Rs 1415| Stop Loss Rs 1285 Godrej Properties: Buy| Target Rs 1920| Stop Loss Rs 1730 (You can now subscribe to our ETMarkets WhatsApp channel) (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic

SBI and upgraded Zomato to buy post Q2 results. CLSA also upgraded Titan Company to buy and BofA Securities recommended a buy on InterGlobe Aviation. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: CLSA on SBI: Buy| Target Rs 700 CLSA maintained a buy rating on SBI with a target price of Rs 700.

Day trading guide for stock market today: Despite trading range-bound, Indian stock market ended higher on Friday. Nifty 50 index gained 97 points and ended at 19,230 levels, BSE Sensex shot up 282 points and finished at 64,363 mark while Bank Nifty index went up 301 points and closed at 43,318 levels.