Cochin Shipyard shares have surged over 20% in the past week, hitting the upper circuit for four consecutive sessions, following a nearly 50% drop from their peak in July. The stock reached Rs 1,579.25, buoyed by growing confidence in both commercial and defense sectors, significantly outperforming the benchmark Sensex.
The Swiss stock market closed mostly higher on November 28, 2024, with the SMI rising 0.57% to 11,709.80 points, despite a lack of significant market-moving news. Julius Baer led gains with a 2.1% increase, while technology stocks like Logitech also performed well amid easing US interest rates. Conversely, Swatch Group and Richemont saw declines, reflecting ongoing challenges in the luxury sector.
BAWAG Group AG, with a market cap of €5.78 billion, generates revenue primarily from Retail & SME (€1.08 billion) and has a dividend yield of 6.79%, placing it among Austria's top dividend payers. Despite consistent earnings growth, its dividend history shows volatility, with a payout ratio of 58.7% and a high level of bad loans at 2%. The company may be undervalued according to recent assessments, suggesting potential for investors.
Emkay Global Financial has maintained a 'REDUCE' rating on Colgate-Palmolive, setting a target price of Rs 3,000. The company is focusing on enhancing its toothpaste and brush portfolios while aiming for balanced volume and price growth amid slowing urban growth and plateauing rural recovery. Management plans to keep margins within historical ranges, with non-oral care initiatives still pending.
Indian equity markets faced significant losses on November 28, with the BSE Sensex dropping 931 points (1.2%) to 79,302 and the NSE Nifty falling 274 points to 24,000. The decline was driven by weakness in IT and auto stocks, compounded by a stronger US dollar impacting emerging-market assets. Despite the downturn, market breadth remained positive with 1,865 shares advancing against 1,510 declining.
Tokyo Gas is exploring options to enhance the value of its real estate assets, including the potential sale of underutilized properties, following pressure from an activist investor. President Shinichi Sasayama indicated that the company aims to improve capital efficiency and plans to raise its mid-term return-on-equity target of 8% once achieved.
Vestas Wind Systems A/S, the leading manufacturer of wind power generation systems, reported sales of 2,554 turbines and systems with a total capacity of 12,685 MW in 2023. Revenue breakdown shows 76.8% from turbine sales and 23.2% from services, with significant sales in Europe-Middle East-Africa (46.4%) and the United States (20%).
UK Chancellor Rachel Reeves' £26 billion tax hike on businesses could lead to the loss of up to 130,000 jobs, according to Bloomberg Economics. The analysis suggests that the unemployment rate may increase by 0.4 percentage points if companies respond by cutting hours worked.
SAS AB, emerging from bankruptcy, is seeking to enhance its role in European airline consolidation by encouraging Air France-KLM to increase its stake. The airline reports a recovery to 95% of pre-pandemic corporate travel levels, with a full return expected next year. SAS is emphasizing its premium offerings, with Copenhagen as its main hub and plans to reintroduce business class on intra-Europe flights, featuring hot meals and blocked middle seats.
Jos Dijsselhof has resigned as CEO of the Swiss stock exchange SIX after seven years, following significant losses in 2023. Bjørn Sibbern, who has extensive experience in capital markets, will take over the role in 2025. Under Dijsselhof, SIX underwent strategic repositioning, including the sale of its card business and the acquisition of the Spanish stock exchange BME, which contributed to the financial downturn.