Vitasoy International Holdings Ltd. is open to exploring potential business collaborations, according to CEO Roberto Guidetti. This statement comes as the company's shares surged following a Singapore tycoon increasing his stake, highlighting growing interest and recognition of Vitasoy's potential.
Mahindra and Mahindra (M&M) shares surged 3% to Rs 3,070 following the launch of its 'Born Electric' SUVs, the XEV 9e and BE 6e, which are set for delivery in the final quarter of the financial year. The BE 6e is priced at Rs 18.90 lakh, while the XEV 9e starts at Rs 21.90 lakh. Morgan Stanley has issued an 'overweight' rating with a target price of Rs 3,336, indicating a potential upside of 12% from the last close of Rs 2,985.
Bhutan is exploring funding options for a $22.5 billion expansion of its hydropower capacity, aiming to add 15 gigawatts by 2040. The initiative will utilize a combination of blended finance and green bonds to support the country's economic revival, according to Ujjwal Deep Dahal, CEO of Druk Holding and Investments Ltd.
Australians are increasingly investing in home renovations, with spending on such projects rising to 40% of total residential construction in fiscal 2024, up from 34.2% five years ago. Meanwhile, new home-building activity has plummeted to its lowest level in over 35 years on a per-capita basis.
LTIMindtree's shares rose to Rs 6,262 after announcing a revenue target of $10 billion by FY31-32, though brokerages expressed caution due to challenges in discretionary spending. Nomura maintained a "reduce" rating with a target of Rs 5,140, while Morgan Stanley issued an "overweight" rating with a target of Rs 7,050, highlighting positive sales momentum.
Foreign institutional investors (FIIs) are showing caution as long positions in index futures decrease, with the long-short ratio dropping to 34.89. The Nifty index is expected to remain range-bound, facing resistance at 24,350–24,400, while holding above the critical support level of 24,100 is crucial to prevent a deeper correction. On Tuesday, the Nifty closed at 24,194.50, down 0.11%, within a narrow 217-point range, indicating long unwinding in the futures and options market.
Morgan Stanley and JPMorgan have initiated 'overweight' ratings on Hyundai Motor India, predicting a potential upside of 29%. Morgan Stanley set a price target of Rs 2,418, while JPMorgan targets Rs 2,200, citing attractive valuations and a strong SUV mix that enhances profitability. Both brokerages expect a recovery in the passenger vehicle market to benefit Hyundai in FY25.
Asian stocks faced pressure as concerns grew over potential tariffs from incoming U.S. President Donald Trump, particularly targeting Canada, Mexico, and China. The yuan weakened to 7.2650 per dollar, nearing a four-month low, while the Australian dollar also approached its recent lows. In contrast, the New Zealand dollar rebounded after a smaller-than-expected interest rate cut by its central bank.
The combined average daily turnover in the F&O segment across both exchanges has dropped by 16% month-on-month, reaching a seven-month low of Rs 334.69 lakh crore. This decline is particularly notable in index futures, which saw their steepest drop since July, while stock futures and options recorded their largest one-year decline, and index options experienced their sharpest fall since July.
VA Tech WABAG, a leading water solutions provider, is well-positioned in the infrastructure sector as a "net cash" company, celebrating its centenary in 2024. CMD Rajiv Mittal emphasizes the company's strong internal accruals, ensuring sufficient funding for complex municipal and industrial projects amidst a global push for ultra-pure water treatment.
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