Morgan Stanley View On Sun Pharma:
Morgan Stanley has kept overweight rating on the Sun Pharmaceutical Industries with a target at Rs 1,032 per share.
Position Sun Pharma both as an absolute pharma top stock pick & a relative hedge in portfolio.
The business model & balancesheet have strengthened over past 3-4 years and cash flows appear relatively insulated against macroeconomic headwinds.
Morgan Stanley expect sales/operating profit CAGRs of 11.9%/16.8% for FY23-24, reported CNBC-TV18.
Sun Pharmaceutical Industries was quoting at Rs 844.00, up Rs 19.90, or 2.41 percent on the BSE.
Bajaj Auto to increase prices w.e.f July 1, 2022Bajaj Auto to increase prices by up to Rs 2,000 w.e.f July 1, 2022 due to steep rise in raw material costs & chip shortage, reported CNBC-TV18.
Punit Patni, Equity Research Analyst, Swastika Investmart:
The recently announced acquisition of Blinkit by Zomato Ltd. is expected to add to its woes of high operating losses. The Blinkit is synergistic to Zomato’s food delivery business and the management expects the business to grow significantly in the future.
The quick commerce market, however, has become incredibly competitive, and it will take a very long time to figure out the unit economics and turn profitable.
Further, the current markets are not conducive for businesses that a growing without showing profits. Thus we believe that this company is suitable only for investors having a high-risk appetite and a long-term view.
BSE Oil & Gas index rose 1 percent led by the ONGC, Gujarat Gas, IOC
Hikal in FocusThe Hon’ble Bombay High Court vide its order dated June 23, 2022 has set aside the Maharashtra Pollution Control Board (MPCB) direction and has directed MPCB to grant permission to Hikal, to re-start manufacturing activities at the company’s manufacturing Unit located at MIDC Taloja within a week from the date of the order.
Vedanta preparing biggest-ever rupee bond saleVedanta is preparing its biggest-ever rupee bond sale, Bloomberg reported.Vedanta is seeking commitments for as much as Rs 4,809 crore of 10-year notes. The company is planning to use proceeds to prepay or repay debt & for capital spending, it added,
USFDA begins inspection of Cipla’s Pithampur unitUSFDA begins inspection of Cipla’s Pithampur unit today. Inspection is likely for Cipla’s US application for a dry powder inhaler, quoting Sources, reported CNBC-TV18.
Nifty, Sensex gain 1% each: 4 Key factors driving the market
The benchmark Sensex and Nifty rose 4% each in the last six trading sessions. So far this year both were down 9% each.
Market at 12 PMBenchmark indices erased some of the intraday losses but still trading higher with Nifty above 15800.The Sensex was up 461.23 points or 0.87% at 53189.21, and the Nifty was up 142.70 points or 0.91% at 15842. About 2316 shares have advanced, 771 shares declined, and 139 shares are unchanged.
RBI approves re-appointment of Rajiv Anand as Deputy MD of Axis BankThe Reserve Bank of India has approved the re-appointment of Rajiv Anand as the Deputy Managing Director of Axis Bank. The re-appointment will be for a further period of three years.
TTK Prestige opens a store under the name UltrafreshTTK Prestige today announced the progress on strategic investment and business collaboration with Ultrafresh, an end-to-end modular kitchen solutions provider. TTK Prestige has taken a strategic stake of over 40% in the equity Ultrafresh to forge the business collaboration between TTK Prestige and Ultrafresh.As part of the business collaboration Ultrafresh Modular Solutions have opened their first experience centre in Koramangala, Bengaluru.
Top 10 trading ideas by experts for next 3-4 weeks as sentiment improves
Traders should take one step at a time and avoid aggressive trades, as there are clusters of resistances lined up for the NIfty on the way up