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News on Medial
IT stocks are recovering, but a re-rating still looks distant
Livemint
·
1m ago
Medial
Indian IT stocks partially recovered after April’s tariff-driven selloff, aided by Accenture’s upbeat outlook. However, sluggish deal momentum and high valuations hinder a full sector-wide re-rating. Despite this, the sector is favored by fund managers in BofA Securities' Asia Fund Manager Survey, with 21% selecting it as their top pick. Accenture’s strong performance is seen as an optimistic sign for Indian tier-1 IT firms, although challenges remain.
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Sensex, Nifty end flat after recovering from lows; metals provide support
VCCircle
·
1y ago
Medial
Indian shares ended the day flat after recovering from early losses. Metal stocks led the gains while other sectors declined following China's property-support measures. The NSE Nifty 50 rose by 0.12% while the S&P BSE Sensex shed 0.07%. The market capitalization of all BSE-listed stocks surpassed $5 trillion for the first time ever but closed slightly lower. The market is expected to trade sideways until election results are announced on June 4, with the anticipation that foreign portfolio investors will return if the results do not negatively impact the markets.
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Taiwan earthquake tests readiness of world’s chip-making hub
Livemint
·
1y ago
Medial
Taiwan Semiconductor Manufacturing (TSMC), the world's largest semiconductor manufacturer, briefly evacuated some of its locations and suspended work at some plants after a powerful earthquake hit eastern Taiwan. TSMC, which produces chips for major companies like Apple, has prepared for earthquakes for years, following lessons from previous disasters. While initial inspections found no safety issues and no injuries reported, it is still uncertain if there is any equipment damage or potential monetary losses from the suspensions. TSMC's main facilities are located in areas relatively distant from the epicenter, but the delicate nature of semiconductor manufacturing requires caution.
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Broker Research Reports, Stocks/Shares Research Reports, Indian Stocks/Shares Research Reports
Money Control
·
1y ago
Medial
In a recent research report, Sharekhan has recommended a buy rating on KEC International, with a target price of Rs 850. Similarly, Godrej Consumer Products has a buy rating from Sharekhan, with a target price of Rs 1455. Other stocks with buy ratings include Bajaj Auto, Zydus Lifesciences, Nippon Life India Asset Management, Mahanagar Gas, HDFC Bank, ISGEC Heavy Engineering, and NTPC. On the other hand, there are some stocks that have been given a reduce or hold rating, such as Tata Motors, Vinati Organics, and Zee Entertainment Enterprises.
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Big Tech stocks nosedive as frothy valuations, AI jitters spook investors
Economic Times
·
1y ago
Medial
Investors are selling off tech stocks amid concerns over stretched valuations and unrealistic expectations from artificial intelligence (AI). Disappointing earnings reports from Tesla and Alphabet have triggered a tech-led market slump. Tesla's Q2 profit fell 45% and it delayed a highly anticipated event for its robotaxi. Alphabet reported higher Q2 net income but flagged high capital expenses for the year. Stocks like Amazon, Apple, Nvidia, Microsoft, Alphabet, and Meta have all seen a decline. Tech majors like Nvidia, Apple, and Microsoft are still at high valuations despite the selloff. Concerns over the timing of returns on AI investments are growing.
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The crypto market still bears the scars of FTX's collapse
Economic Times
·
1y ago
Medial
The global cryptocurrency market is still recovering from the collapse of FTX and other major players in 2022. Bitcoin, the largest cryptocurrency, has partially bounced back but is still far from its 2021 peak. The overall crypto market value plummeted in 2022 but has since made some progress. Venture capital investments in crypto have slowed down, and trading volumes have also decreased significantly. The collapse of FTX has affected confidence in the crypto ecosystem.
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Stockology: Mixed week ahead; tug of war between bulls and bears to continue
Money Control
·
1y ago
Medial
Next week, sectors such as IT, auto, banks, natural resources, and power will be the focus. The market experienced a 3% decline before recovering, with technology stocks taking a bigger hit. Chemical and midcap sectors performed better. The Nifty breaching 21,710 could trigger a selloff, while a close below 21,900 would confirm weakness. The time map for the week suggests negativity and caution in the market. Traders are advised to reduce leveraged positions and focus on a concentrated portfolio.
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Smart driving new front in China car wars despite fatal crash
Economic Times
·
3m ago
Medial
Intelligent driving features are crucial in China's competitive car market, emphasizing advances in advanced driver-assistance systems (ADAS) aimed at full self-driving cars. Automakers invest heavily, as a significant consumer base prefers smart features. Despite safety concerns caused by a fatal crash and subsequent governmental scrutiny, competition remains fierce, with companies focusing on safety over aggressive autonomous driving claims. Yet, achieving truly autonomous level-five vehicles is still distant due to technological challenges.
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Broadcom’s AI success won’t all come at Nvidia’s expense
Livemint
·
7m ago
Medial
Broadcom's long-term forecast for its AI business has boosted the company's stock price, pushing its market capitalization over $1 trillion. This surge has negatively impacted Nvidia's stock price, which has declined by about 4% in the past two days. While Broadcom's market cap is still far below Nvidia's, the recent boost in stock price has brought Broadcom's price-to-earnings ratio to its highest ever. This is due to its exposure to the AI market as a supplier of networking processors and partnerships with major tech companies developing their own AI chips. However, Nvidia's market-leading silicon is still in high demand, as companies like Google and Amazon continue to emphasize their partnership with Nvidia. Both Broadcom and Nvidia are still expected to perform well in the AI market, with analysts maintaining a buy rating for both stocks.
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PFC, REC undervalued even after eye-popping rise over last year, say analysts
Money Control
·
1y ago
Medial
Power finance stocks REC and PFC have seen a recent rally, driven by strong Q4 earnings and positive sentiment. Despite significant gains, analysts believe that these stocks are still undervalued. Factors such as improving financial strength, increasing power demand, and growth opportunities in the renewable energy sector contribute to a strong investment case. The government's support for power sector companies and initiatives such as the Pradhan Mantri Kusum Yojana and electrification plans further enhance the prospects for REC and PFC. However, the market perception has not fully adjusted due to past high NPAs, but recent improvements and clean-up efforts indicate potential upside in the stocks.
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Daily Voice: US elections not a major factor for Indian stocks, says TRUST MF's Mihir Vora
Money Control
·
9m ago
Medial
Mihir Vora, CIO of TRUST Mutual Fund, believes that US elections are not significant for Indian stocks. He predicts potential earnings downgrades in banks, metals, oil and gas, FMCG, and some large-cap IT stocks for Q2FY25. Vora suggests that the options for high-growth segments are predominantly in small-caps or mid-caps, and there is still ample scope for stockpicking in small-caps. He states that small-cap stocks offer growth-adjusted valuations that are not expensive and are well-suited to TRUST Mutual Fund's philosophy of 'Terminal Value Investing'. Vora also identifies undervalued sectors for investment, such as banks, NBFC, chemicals, defence, auto and ancillaries, and asset management. He believes that India remains a buy-on-dips market and the US elections have minimal impact on Indian stocks.
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