CLSA View on Mahindra and Mahindra
The broking house CLSA has kept a buy rating on Mahindra and Mahindra and raised the target price to Rs 1,356.
CLSA feels that the Scorpio-N will boost SUV line-up and its advanced features at lower price are a great value proposition for customers.
There is room for improvement in volumes if chip crunch eases faster, CNBC-TV18 reported.
Mahindra and Mahindra touched a 52-week high of Rs 1,121 and was quoting at Rs 1,098.10, up Rs 16.05, or 1.48 percent on the BSE.
Government weighs 100% divestment from privatised PSU banks: Report
Amendments to the Banking Companies Act will look at reducing the mandatory requirement of 51 percent government holding in PSBs
Nifty Bank index down 0.5 percent dragged by the Bandhan Bank, Kotak Mahindra Bank, HDFC Bank
ITC to launch range of Millet-based products across categories
ITC is going to launch range of Millet-based products across categories, quoting Sources, reported CNBC-TV18.
The company is going to launch ‘Jowar’ & ‘Bajra’ biscuits under Sunfeast brand and range of savoury snacks including ‘Bujiya’, ‘Jowar Puffs’.
It mulls creating sub-brand under Bingo for Millet-based savoury snacks and set to foray into soup sachets under B Natural brand, it added.
ITC was quoting at Rs 270.40, up Rs 0.60, or 0.22 percent on the BSE.
Market at 12 PMBenchmark indices erased some of the intraday losses but trading marginally lower.The Sensex was down 117.96 points or 0.22% at 53043.32, and the Nifty was down 28.60 points or 0.18% at 15803.40. About 1476 shares have advanced, 1465 shares declined, and 131 shares are unchanged.
Rupee hits fresh record low as oil boils and FIIs keep dumping stocks
The rupee opened at 78.50 a dollar and touched a fresh record low of 78.68. At 10.40am, the home currency was trading at 78.65, down 0.4% from its previous close of 78.35.
Nomura View on Mahindra and Mahindra
The research firm Nomura has maintained a buy rating on Mahindra and Mahindra with a target of Rs 1,308.
The new Scorpio-N should further support transformation of a lifestyle SUV maker, feels Nomura.
There is potential to incrementally add 10-15% upside to overall FY23-24 utility vehicle volumes, CNBC-TV18 reported.
Rupee Updates:Indian rupee fell further to hit fresh record low. It is trading at 78.69 against previous close of 78.34.
Star Health and Allied Insurance has signed a Corporate Agency agreement with IDFC FIRST Bank, for distribution of its health insurance solutions.
Campus Activewear rises as CLSA initiates coverage with ‘buy’ call
Campus Activewear share price rose on June 28 after foreign brokerage house CLSA India initiated coverage on the stock with a “buy” rating and a price target of Rs 370, implying an upside of 12 percent from the current level.
Campus Activewear was quoting at Rs 335.95, up Rs 6.10, or 1.85 percent on the BSE.
GMR Infra’s subsidiary, DIAL, completes issuance of 5-year NCDsDelhi International Airport Limited (DIAL), a subsidiary of GMR Airports Limited and a step-down subsidiary of GMR Infrastructure Limited (GIL), announced that it had successfully completed the issuance of 5 years Non-Convertible Debentures (NCDs) amounting Rs 10
billion and the same listed on the BSE Limited on June 23, 2022.
Indiabulls Real Estate guilty of profiteering Rs 6.46 crore, to refund homebuyers: NAA
The National Anti-profiteering Authority (NAA) has found Indiabulls Real Estate guilty of not passing on over Rs 6.46 crore input tax credit benefits to homebuyers by commensurate reduction in prices post rollout of GST. Based on a case filed by a homebuyer that Indiabulls Real Estate has not passed on ITC benefits in project Sierra-Vizag, situated in Visakhapatnam, the Directorate General of Anti Profiteering (DGAP) investigated the case and found the builder guilty of profiteering.