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GSPL shares: Citi upgrades PSU stock to buy, says MGL and GAIL remain top gas picks
Business Today
·
4m ago
Medial
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.
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Mahanagar Gas falls 13% after Citi downgrades stock to 'Sell' from 'Buy'
Money Control
·
1y ago
Medial
Shares of Mahanagar Gas Ltd dropped by more than 13% after Citi downgraded the stock to 'Sell' from 'Buy' and reduced its target price. The downgrade came as Oil Minister Hardeep Puri highlighted that the full benefits of natural gas sector reforms have not reached end customers. Puri emphasized the government's commitment to ensuring affordable rates and enforcing compliance by city gas companies. Citi expressed concerns about exclusivity and margins and expressed that it is closely monitoring potential downside catalysts over the next 90 days. The city gas licensing round is expected to require an investment of Rs 41,000 crore for infrastructure development.
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Coal India, BEML, Ambuja Cements & Zomato: Here's what Mitesh Panchal says on these stocks
Business Today
·
4m ago
Medial
Market expert Mitesh Panchal expresses optimism in PSU stocks, particularly Coal India. He highlights Ambuja Cements as a buy at its current price, with a stop loss of Rs 540 and target of Rs 560-570. For BEML, he suggests a buying range of Rs 3,100-3,200 with a target of Rs 4,000. Zomato is a buy above Rs 215, with a stop loss at Rs 203 and a target of Rs 230-240, anticipating a strong PSU theme resurgence.
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GAIL shares rise 3% on India's largest ethane plant; Morgan Stanley maintains 'buy'
Money Control
·
1y ago
Medial
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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Stock market fall - Stock market selloff: More pain ahead? Samir Arora, Nilesh Shah & Shankar Sharma decode - Stock market selloff: More pain ahead? Samir Arora, Nilesh Shah & Shankar Sharma decode BusinessToday
Business Today
·
5m ago
Medial
Stock market experts believe more challenges remain as benchmarks haven't bottomed out yet. Market cycles are lengthy, taking time to peak and correct, potentially over months or years. Investors should expect ongoing volatility. FPI selling is currently a major driver, and the market will stabilize once it ceases. Certain PSU banks appear promising due to their cheap valuations and strong fundamentals. A strategic, bottom-up approach is advised where valuation comfort and policy certainty exist.
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Chartist Talks: FII long-short ratio hints at Nifty 50 consolidation in coming few sessions despite strong underlying trend, says SBI Securities' Sudeep Shah
Money Control
·
10m ago
Medial
According to Sudeep Shah of SBI Securities, the Nifty 50 is likely to consolidate in the coming sessions before continuing its upward journey and testing 26,500 and 26,750 in the short term. Shah also suggests that Balrampur Chini, BPCL, Exide Industries, Polycab India, Hindustan Petroleum Corporation, Colgate Palmolive, Cipla, and Divi's Laboratories are good picks based on roll-over data. The FII long-short ratio indicates a strong bullish bias, but a slight cool-off may occur. The Nifty Auto index is expected to continue its positive momentum, with Polycab India likely to test Rs 7,400 and Rs 7,600 levels. Selective PSU stocks such as Gail, HPCL, and BPCL have also shown strong moves and are expected to continue their upward journey.
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Q3 earnings review: Nifty 50 beats estimates, says Motilal Oswal
Livemint
·
1y ago
Medial
Indian corporates reported strong Q3FY24 earnings, with widespread outperformance across various sectors, driven by favorable margins, according to Motilal Oswal Financial Services. Domestic cyclical sectors such as autos and financials, along with global cyclical sectors like metals and oil & gas, performed well. Technology earnings declined slightly, the first drop in 26 quarters. Nifty 50 exceeded expectations, with 17% YoY growth in PAT. The top earnings upgrades for FY25 were recorded in Tata Motors, Coal India, Hero MotoCorp, Cipla, and Bharti Airtel, while the top downgrades were UPL, LTI Mindtree, ITC, Divis Labs, and HUL.
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Vodafone Idea shares: Why VIL stock is down 4% from day's high
Business Today
·
5m ago
Medial
Vodafone Idea shares fell 4% from the day's high due to ongoing financial challenges and competitive pressures. The stock was affected by profit booking after recent gains and concerns over the company's ability to raise sufficient funds for business sustainability. Despite recent tariff hikes and government support initiatives, the telecom firm faces hurdles in clearing its substantial debt and undertaking necessary network upgrades to remain competitive in the rapidly evolving telecom market.
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BHP says carbon offsets remain an option on road to reducing emissions
Livemint
·
1y ago
Medial
BHP Group is not planning to use carbon offsets to meet its 2030 emissions goals, but hasn't ruled them out. The company aims to reduce its operational greenhouse gas emissions by at least 30% by 2030 without relying on offsets. However, uncertainties remain due to technological advancements, and the company may consider using voluntary offsets if necessary. BHP also has an aspirational goal of achieving net zero operational greenhouse gas emissions by 2050 and expects to use carbon credits in the longer term. The company is facing challenges in transitioning away from diesel and implementing electric equipment trials.
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Zomato Among Jefferies’ ‘Top Picks’ For The Next Five Years
Inc42
·
1y ago
Medial
UBS and Jefferies have both maintained a positive outlook on Zomato, an Indian foodtech startup. UBS has a 'buy' rating and price target of INR 195, while Jefferies expects Zomato's share price to reach INR 400. Jefferies sees Zomato as one of its top picks for the next five years, citing low penetration levels in the food delivery and quick commerce sectors. UBS expects Zomato's year-on-year growth to remain healthy. Zomato is facing a goods and services tax penalty notice from Gujarat's Deputy Commissioner of State Tax for FY19.
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PayPal tumbles after firm forecasts little profit growth in 2024
Livemint
·
1y ago
Medial
Shares of PayPal Holdings Inc. dropped after the company announced that it expects earnings to remain flat in 2024 due to ongoing cost-cutting measures and operational streamlining. The fintech firm reported a 15% increase in fourth-quarter payments volume but expects adjusted earnings to remain the same as the previous year. PayPal plans to buy back $5 billion of its stock and will now provide quarterly revenue guidance instead of annual guidance. The company recently cut 9% of its workforce and aims to become more efficient.
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