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GAIL shares rise 3% on India's largest ethane plant; Morgan Stanley maintains 'buy'

Money Control

Money Control · 1y ago

GAIL shares rise 3% on India's largest ethane plant; Morgan Stanley maintains 'buy'

Shares of GAIL India rose 3% to Rs 214 after the company's bid to establish a 1,500 KTA ethane cracker project in Madhya Pradesh worth Rs 60,000 crore. Morgan Stanley maintained its 'buy' stance on the stock and set a price target of Rs 250, while JPMorgan remained 'neutral' and cited potential overhang and limited upside in valuations. The project proposes a greenfield petrochemical complex and is expected to create thousands of jobs. GAIL shares have gained 31% year-to-date.

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India to be third largest economy by 2028: Morgan Stanley

YourStory

YourStory · 5m ago

India to be third largest economy by 2028: Morgan Stanley

India is projected to become the third-largest global economy by 2028, according to Morgan Stanley. With a robust consumer market and macro stability, India's economy is expected to grow from $3.5 trillion in 2023 to $5.7 trillion by 2028. The country's share in world GDP could rise to 4.5% by 2029. Growth scenarios project the economy reaching between $6.6 trillion and $10.3 trillion by 2035, driven by domestic demand, policy support, and infrastructure improvements.

Tata Elxsi shares hit 52-week low, down for sixth straight session; here's what analysts say

Business Today

Business Today · 5m ago

Tata Elxsi shares hit 52-week low, down for sixth straight session; here's what analysts say

Tata Elxsi shares recently hit a 52-week low, with analysts differing on its future. Jigar Patel sees support at Rs 5,145 and potential upside to Rs 5,650. Morgan Stanley maintains an 'Underweight' call, adjusting its target to Rs 5,400. Riyank Arora predicts a further decline to Rs 4,600, while A R Ramachandran notes oversold conditions, predicting a target of Rs 4,785 if Rs 5,133 support breaks.

IndiGo co-founder Rakesh Gangwal to sell up to 3.8% stake in the airline | Mint

Livemint

Livemint · 1y ago

IndiGo co-founder Rakesh Gangwal to sell up to 3.8% stake in the airline | Mint

Rakesh Gangwal, co-founder of IndiGo, plans to sell up to 14.7 million shares or a 3.8% stake in parent company InterGlobe Aviation through a block deal. The sale is estimated to be worth $804 million, with an offer floor price of ₹4593 per share. Gangwal's stake in InterGlobe Aviation is expected to decrease to 15.58% following the sale. The stake sale will be conducted by investment banks JP Morgan India, Goldman Sachs, and Morgan Stanley India. IndiGo is India's largest domestic airline with a 62% share of the market and a 16.9% share of the international market.

Nexus Ventures Sells 1.2 Cr Shares Of Delhivery

Inc42 · 2m ago

Nexus Ventures Sells 1.2 Cr Shares Of Delhivery

Nexus Venture Partners sold 1.2 crore shares of Delhivery for INR 461 crore through block deals. The major buyers included Axis Mutual Fund, Citigroup Global Markets, HDFC, and Tata Mutual Fund, among others. Morgan Stanley Asia Singapore emerged as the largest buyer, acquiring over 47 lakh shares worth INR 184.7 crore. Most shares, 1.02 crore, were sold from Nexus Venture Partners III for INR 395.2 crore, with additional shares sold from Nexus Opportunity Fund.

GSPL shares: Citi upgrades PSU stock to buy, says MGL and GAIL remain top gas picks

Business Today

Business Today · 5m ago

GSPL shares: Citi upgrades PSU stock to buy, says MGL and GAIL remain top gas picks

Citi upgraded GSPL shares to a buy recommendation, resulting in a 1.23% increase to Rs 275.85. MGL shares rose by 2.67% to Rs 1,318.55, while GAIL India Ltd experienced a slight decline of 0.47%, reaching Rs 157.20. Despite fluctuations in individual stocks, MGL and GAIL remain Citi's top picks in the gas sector. The overall market conditions reflect varied responses among these prominent public sector companies.

Morgan Stanley in talks to exit investment in Manna Foods

Livemint

Livemint · 1y ago

Morgan Stanley in talks to exit investment in Manna Foods

Morgan Stanley's private equity arm is reportedly considering selling its stake in Manna Foods due to the company's struggle to achieve sustainable growth and increased profits. The discussions are ongoing, but no decision has been made yet. The move comes amidst consolidation in India's health food industry, with Morgan Stanley having invested INR 152 crore in Manna Foods' parent company six years ago. Manna Foods has seen a moderate rise in revenue and profits in recent years. India's health food market is projected to grow rapidly, leading to more consolidation in the industry.

Buzzing Stocks: RVNL, IndiGo, Vodafone Idea, GAIL, Adani Ent, M&M, BSE and others in news

Money Control

Money Control · 1y ago

Buzzing Stocks: RVNL, IndiGo, Vodafone Idea, GAIL, Adani Ent, M&M, BSE and others in news

Rail Vikas Nigam has been awarded a project worth Rs 1,298.2 crore to develop distribution infrastructure in Himachal Pradesh. IndiGo co-founder Rakesh Gangwal is considering selling up to a 5.8% stake in InterGlobe Aviation to raise nearly Rs 6,600 crore. GAIL, ONGC, and Shell Energy India have signed an MoU to explore opportunities for importing ethane and other hydrocarbons. Vodafone Idea is seeking shareholder approval to issue securities worth Rs 20,000 crore. And Adani Enterprises has inaugurated the integrated terminal 3 of the Chaudhary Charan Singh International Airport.

Paytm shares fall 3% to ₹875 after Antfin sells 3.6% stake

Money Control

Money Control · 2y ago

Paytm shares fall 3% to ₹875 after Antfin sells 3.6% stake

On Monday, the shares of One97 Communications, the parent company of Paytm, experienced a decline of approximately 3%, reaching a value of ₹875.05. This decline follows the sale of a 3.6% stake in the Indian startup by Antfin, the Netherlands-based subsidiary of Jack Ma's Ant Group. The stake was sold for ₹2,037 crore through open market transactions, with buyers including Goldman Sachs (Singapore), Morgan Stanley Asia Singapore, and Societe Generale.

RIL becomes first Indian company to cross Rs 21 lakh crore mcap

Money Control

Money Control · 1y ago

RIL becomes first Indian company to cross Rs 21 lakh crore mcap

Reliance Industries Ltd, led by chairman Mukesh Ambani, has become the first Indian company to reach a market value of over Rs 21 lakh crore ($282 billion) following a 20% surge in its stock price this year. The stock rise came after subsidiary Reliance Jio announced new unlimited plans, which boosted investor confidence. Brokerages such as Jefferies and Morgan Stanley have also raised their price targets for Reliance, citing strong growth expectations for its telecom business. As of now, 28 out of 35 analysts covering Reliance recommend a "Buy" rating for the stock.

Motilal Oswal mutual fund offloads 4.5 Cr shares of Zomato in INR 621 Cr block deal

Inc42 · 1y ago

Motilal Oswal mutual fund offloads 4.5 Cr shares of Zomato in INR 621 Cr block deal

Motilal Oswal Mutual Fund has sold 4.5 crore shares of Zomato in a block deal worth INR 621.6 crore. The shares were purchased by BNP Paribas, Citigroup, Goldman Sachs, Morgan Stanley, and Societe Generale. Zomato's shares fell nearly 3% during early trading but ended the session 4.44% lower on the BSE. This comes after HSBC, Goldman Sachs, and Jefferies raised their price targets for Zomato due to expectations of strong growth in its food delivery and quick commerce verticals. Zomato reported profitable quarters in Q1 and Q2 of FY24.

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