Business
19846 articles
Jefferies cuts HDFC Bank share price target but retains Buy after CEO opts out of new term. Here’s why
Jefferies retained its Buy rating on HDFC Bank but cut the target price to Rs 880 from Rs 1,050 following CEO Sashidhar Jagdishan’s decision not to seek reappointment. The brokerage flagged near-term risks to deposit mobilisation and fee income but said valuations remain undemanding.
Transformers and Rectifiers shares rally 8% after receiving order worth up to Rs 100-500 crore from MEIL
Transformers and Rectifiers shares rallied on Monday after the company secured a large order from MEIL for manufacturing transformers and related work. Valued at Rs 100 crore to Rs 500 crore, excluding GST, the order is scheduled for execution over 35 months and is expected to strengthen the company’s order pipeline.
Global Market: Chinese property stocks slide as new rules raise consolidation fears
Chinese property stocks came under pressure after Beijing introduced new rules aimed at reducing developers’ reliance on homebuyer funds and curbing risks from unfinished projects. While the measures could improve buyer protection, investors fear they may put greater pressure on highly leveraged developers and accelerate industry consolidation.
India bonds slump on Fed rate hike bets, benchmark trades at discount
Indian government bonds faced a downturn on Monday as yields spiked significantly. Hawkish statements from the head of the U.S. Federal Reserve ignited concerns about imminent rate hikes. Additionally, oil prices surged over ninety dollars a barrel, compounding market pressures. This confluence of events casts a shadow over India's inflation expectations and fiscal health, prompting traders to anticipate local swap rate increases in light of potential Fed actions.
Zee Entertainment shares crash 14% amid Subhash Chandra’s 99.97% loan haircut row
Zee Entertainment shares crashed on Monday after the NCLT approved a repayment plan involving founder Subhash Chandra. The plan entails a recovery of around Rs 6.5 crore against admitted creditor claims of Rs 22,006.57 crore, implying a 99.97% haircut.
Augmont Enterprises shares drop 2% after listing at 22% premium. Buy, sell or hold the stock?
Augmont Enterprises made a strong stock market debut, listing at a 22% premium to its IPO price, but gains fell short of grey market expectations. With valuations considered rich, brokerages have offered mixed views, ranging from Neutral to Subscribe for Long Term. Investors will weigh the company’s growth prospects, margins, integrated precious-metals ecosystem and key risks.
Economist Sanjeev Sanyal explains how Kolkata lost its tech edge and Bengaluru won India’s IT crown
Economist Sanjeev Sanyal has made a striking claim about Bengaluru's rise as India's technology capital, linking it to the exodus of talent from Kolkata during Jyoti Basu's tenure as West Bengal chief minister.
IGL shares jump 3% after CNG price hike in Delhi NCR. What lies ahead?
IGL shares witnessed an uptick on Monday after the company hiked CNG prices by Rs 3.89 per kg in Delhi-NCR, citing higher imported LNG costs. The increase marks the fifth price hike this year. Citi retained its Buy rating on IGL, saying the latest hike could improve realisations and support margins.
Ather Energy shares rally 4% after launch of Konarc electric scooter at Rs 99,999. Buy, sell or hold the stock?
Ather Energy shares rose after the company launched its new Konarc electric scooter at a starting price of ₹99,999. The model will be offered in six variants across the S and Z lines, with IDC ranges of up to 200 km. Ather Energy shares have gained 132% over the past six months.
Tempsens Instruments shares slide over 4% on profit booking after record listing
Tempsens Instruments shares fell over 4% on Monday as investors booked profits after the stock’s blockbuster debut on Friday. The shares had listed at a premium of more than 111% over the IPO price following strong demand for the Rs 650-crore issue, which was subscribed 184 times during the bidding period.
Nomura initiates coverage on Clean Max Enviro with Buy call. Check upside potential, key reasons
Nomura initiated coverage on Clean Max Enviro Energy Solutions with a Buy rating and a Rs 1,510 target, implying 21% upside, citing strong growth prospects in India’s C&I renewable energy market. The brokerage expects revenue and EBITDA to grow at CAGRs of 39% and 50%, respectively, through FY29, while Clean Max’s Q1 profit turned positive and revenue more than doubled year-on-year.
US Stock Market: Jobs data, Broadcom results to test stock rally near record highs
US stocks are trading near record highs, but the rally faces key tests this week from August jobs data and Broadcom’s quarterly results. Investors will closely watch labour-market signals for clues on the Federal Reserve’s interest-rate path, while Broadcom’s outlook could determine whether enthusiasm around artificial intelligence stocks remains strong.
US Stock Market: Warsh signals Fed may need to raise rates if inflation remains elevated
Fed Chair Kevin Warsh signalled that the US central bank could raise interest rates if inflation fails to move closer to its 2% target, triggering a sharp shift in market expectations. Treasury yields climbed as investors raised bets on a September rate hike, with upcoming inflation and jobs data now in focus.
Jefferies initiates coverage on Leela Hotels with Buy rating, sees 22% upside
Jefferies initiated coverage on Leela Hotels with a Buy rating and a Rs 675 target, citing India’s premiumisation trend, rising luxury travel demand and the company’s owned-led expansion strategy. The brokerage expects strong revenue and earnings growth through FY29, supported by higher room rates, leisure exposure and Brookfield backing.
Hindustan Zinc, Vedanta, Nalco and other metal stocks slide up to 5%. Here's why
Metal stocks tumbled up to 5% on Monday, with the Nifty Metal index falling over 2% amid a decline in metal prices and rising expectations of higher-for-longer US interest rates. Profit booking after the index’s strong August rally also weighed on sentiment, while Jefferies remained bullish on Hindustan Zinc over Hindalco.
Ashoka Buildcon shares rally 10% after securing Rs 602 crore order from RVNL
Ashoka Buildcon shares surged over 10% after the company received a Rs 602.16 crore order from Rail Vikas Nigam Limited for electro-mechanical works across four railway tunnels in Uttarakhand. The 30-month project is expected to strengthen the company’s order book, while the stock’s technical setup also remains in focus.
How 90% IPOs in August beat volatile India market to return up to 72% after listing
In August, a majority of newly listed IPOs saw a successful debut, outpacing the broader market. Approximately ninety percent of these listings are still trading above their original issue prices, with Tempsens Instruments shining brightly by doubling its value on the first day. Despite the selective nature of the secondary market, the future looks promising with a strong IPO pipeline anticipated to carry through September, enabling substantial fundraising.
Gold prices drop 9,500/10 gram in 4 days; silver down Rs 7,700/kg as US Fed rate hike bets increase. Buy, sell or hold?
Gold and silver prices extended their losses for a fourth straight session on Monday as comments from US Fed Chair Kevin Warsh fuelled expectations of higher interest rates. Gold has declined ₹9,500 over four sessions, while silver is down ₹7,700 in three sessions.
