Nomura view on Eicher Motors
Broking firm has maintained neutral rating on the stock with a target at Rs 3,094 per share.
RE’s strong price increases kept us concerned on affordability, while its volumes may rebound in FY23 but beyond that may remain in single digit. The exports also face near-term slowdown risks, said Nomura.
With commodity benefits, we raise EBITDA margin estimate to 25-25.4 percent for FY23-24, Nomura added.
Our earnings estimates are higher by +0.5 percent/+4.4 percent, reported CNBC-TV18.
NMDC raises price of lump ore & fines
TCS partners with Five Star Bank for digital transformation:
Tata Consultancy Services has partnered with Five Star Bank, a subsidiary of Financial Institutions, Inc. on its digital transformation journey, helping it determine lending risk and deliver hyper-personalized customer experiences using the TCS Customer Intelligence & Insights™ (CI&I) analytics platform. Five Star Bank is a provider of consumer and commercial lending services across Central and Western New York. The bank was looking for a solution that provides contextual customer insightsto help them better meet customer expectations and drive competitive differentiation. TCS was trading at Rs 3,407.60, up Rs 51.60, or 1.54 percent on BSE. It has touched an intraday high of Rs 3,418.80 and an intraday low of Rs 3,377.
#OnCNBCTV18 | Even if we are optimistic about Fed, there are other negatives in play. Still a bit careful about the Rupee, think it can go over 80/$, says Steve Englander of Standard Chartered Bank pic.twitter.com/67bW67gSfw— CNBC-TV18 (@CNBCTV18Live) August 11, 2022
Market update at 11 AM: Sensex is up 582.21 points or 0.99% at 59399.50, and the Nifty jumped 147.70 points or 0.84% at 17682.50.
Coal India on fire after Q1 profit rises 178% YoY: Should you add more?
Shares of Coal India have posted a nearly three-fold rise in net profit, taking the shares to a fresh 52-week high. Top brokerages believe the demand for coal here to stay.
BSE Sensex is 5 percent away from its all-time high of 62,245.43 tested on October 19, 2021. The Sensex is trading higher by 592.49 points or 1.01% at 59409.78.
Nifty Information Technology index added 1 percent led by the Tech Mahindra, Mindtree, L&T Infotech
Tata Consumer Products recorded a 38% year-on-year growth in profit at Rs 277 crore for the quarter ended June FY23, with revenue rising 11% to Rs 3,327 crore and EBITDA increasing 14% to Rs 460 crore compared to year-ago period. Revenue in constant currency terms increased 10% YoY.
Tata Consumer Products was quoting at Rs 777.30, down Rs 12.85, or 1.63 percent on the BSE.
CLSA View on Hindalco Industries
Brokerage house CLSA has maintained buy rating on the stock with a target at Rs 525 per share. The brokerage feels that the domestic profitability in the quarter gone by surprised positively with India EBITDA of Rs 3,600 crore, which was above the estimates.
The integrated aluminium EBITDA/t fell 14 percent QoQ to USD 1,361.
We expect profitability to recover in H2 as coal costs soften and with 60 percent EBITDA from its conversion business, company remains well placed, reported CNBC-TV18.
Gold prices today: Experts expect precious metal prices to remain volatile; support for gold around Rs 52,040-51,810
Rahul Kalantri, VP Commodities, Mehta Equities expects precious metals to remain volatile in today’s session. Gold has support at $1782-1774, while resistance is at $1810-1818 per troy ounce. In rupee…
Results on August 11:
Apollo Hospitals Enterprise, Aster DM Healthcare, Aurobindo Pharma, Bata India, Bharat Forge, Gujarat Ambuja Exports, Greaves Cotton, Garden Reach Shipbuilders & Engineers, Himadri Speciality Chemical, KNR Constructions, Page Industries, The Phoenix Mills, Puravankara, Quess Corp, Sapphire Foods India, Shilpa Medicare, Spencers Retail, Sunteck Realty, Trent, Vipul Organics, and Wonderla Holidays will be in focus ahead of June quarter earnings on August 11.