US Stock Reports, Quotes and News
M&M achieved a new 52-week high of Rs 2,554.75 following better-than-expected March quarter performance, prompting increases in target prices and upgrades. Jefferies, a global brokerage firm, upgraded M&M to a buy rating and raised the target price to Rs 2,910.
JPMorgan retains overweight rating on LIC Housing Finance, Nomura favors buy rating on Info Edge, BofA Securities suggests buying Biocon, and Jefferies upgrades M&M to buy.
Premier Roadlines shares list at 30% premium on the NSE SME platform, debuting at Rs 87. The oversubscribed IPO offers logistics solutions to B2B customers. Hem Securities lead managed the IPO with a focus on vehicle purchase, working capital, and general corporate purposes.
Aztec Fluids and Machinery debuts on BSE SME platform at Rs 90, 34.3% premium over issue price. IPO oversubscribed over 200 times. Company offers coding and marking solutions across various industries.
Piotex Industries\’ shares made their debut on the BSE SME platform on Friday with a 16% premium, opening at Rs 109 compared to the issue price of Rs 94 per share. Before the listing, the company\’s shares traded at a premium of Rs 30 in the unlisted market.
Shares of Info Edge (India), the parent company of Naukri.com, surged 8% on the BSE during Friday\’s trading session, reaching a peak of Rs 6,338.55. This increase followed the company\’s Q4 profit report of Rs 211 crore, marking an 18% year-on-year growth.
ICICI Direct, India\’s fifth largest broker, faced a technical glitch, affecting traders\’ access. Initially, a maintenance message appeared, delaying trading. The platform resumed around 10:20 am. Technical issues have plagued brokers like Groww and Zerodha recently.
Vodafone Idea Stock: Vi\’s net loss for the fiscal fourth quarter expanded to Rs 7,675 crore, up from Rs 6,986 crore in the previous quarter. The telecom company faces challenges from high debt and ongoing customer losses to competitors like Reliance Jio and Bharti Airtel.
Gautam Shah, Founder of Goldilocks Premium Research, advises a strategic investment approach focusing on low beta stocks in metals, FMCG, and pharma sectors. Further, Shah specifically recommends stocks like ITC, Britannia, Hindustan Unilever, Dabur, Marico, JSPL, SAIL, NALCO, Tata Steel, JSW Steel, and Vedanta for potential growth in the market.
Pradeep Gupta of Anand Rathi Group discusses FIIs turning net sellers in India due to various global uncertainties and market volatility, emphasizing the importance of long-term strategic decisions in an interview with ETMarkets. Gupta says: \”On a risk-adjusted basis, there is equal positivity on large and small cap indices, with slightly more caution on the mid-cap segment.\”
Hitesh Oberoi, Co-Promoter, MD & CEO of Info Edge, discusses the growth in IT hiring, positive Naukri JobSpeak index movement, and real estate success. He also addresses EBITDA margins, recruitment trends, and global market influences, including exceptional losses and FY25 projections. Oberoi says IT hiring is more indexed to what happens in the US and the global economies than to what happens in the Indian economy and it has to be seen how that plays out over the next few quarters.
Sanjiv Bhasin of IIFL Securities predicts Honeywell Automation\’s share price is going to reach Rs 1 lakh, while he had bought it years ago for Rs 89. Strong market performances by Hindustan Aeronautics and Mahindra indicate stability amidst FII selling worries. Opportunities in PSUs like NALCO, IOC, and SAIL emerge in the current market scenario.