Maruti Suzuki India Ltd, a subsidiary of Suzuki Motor Corporation, remains the leading automobile manufacturer in India, known for its affordability and extensive service network. With a projected revenue CAGR of 7.2% for FY24-FY27E and an entry into the electric vehicle market by FY25, an ACCUMULATE rating is recommended, targeting a price of Rs 14,250 per share based on a forward P/E of 25x.
Foreign carmakers face a potential annual profit loss of up to US$20 billion in China due to rising competition from domestic manufacturers and a shift towards electric vehicles. UBS Investment Bank highlights that diminished demand for foreign brands could lead to an overcapacity of 10 million vehicles, prompting a need for strategic reevaluation. Despite profit pressures from aggressive pricing, China's auto market is experiencing strong momentum, with October sales reaching a decade-high of 2.73 million units, over half of which were electric vehicles.
05:07 26.11.2024
The global Healthcare Fabrics Market is experiencing significant growth driven by changing consumer preferences, technological advancements, and a focus on sustainability. Key objectives include forecasting market size across regions, analyzing growth factors, and identifying opportunities for stakeholders. Major players in the market include Kimberly-Clark Corporation, DuPont, and Medline Industries, with applications spanning hygiene products, clothing, and upholstery.
India’s central bank Governor Shaktikanta Das has been hospitalized in Chennai but is expected to be discharged soon. His condition and the reasons for hospitalization have not been detailed.
JPMorgan anticipates a revival in Engineering Research & Development (ER&D) growth by 2025, driven by a recovery in the automobile sector, despite ongoing challenges in telecom that may limit valuation upside. The firm favors KPIT Tech and Persistent Systems for their strong growth potential, assigning target prices of Rs 1,900 and Rs 6,100, respectively, while also highlighting L&T Technology Services and Cyient as key recovery plays.
KEC International's shares rose 2% to Rs 1,064 after securing new orders worth Rs 1,114 crore in Q2FY25, spanning transmission and distribution, civil, railways, and cable segments. Notable projects include a 400 kV transmission line in Oman and various contracts in India, contributing to a year-to-date order intake of Rs 14,600 crore, a 50% increase from last year. CEO Vimal Kejriwal expressed optimism about the company's strengthened position in the Middle East and diverse project acquisitions.
The CBDT's report on black money highlights the issue of repeat penalties for individuals who fail to disclose foreign assets. Under the existing tax framework, each year's income-tax return is considered a new obligation, resulting in penalties for non-compliance in subsequent years.
Gold prices remained stable after a previous drop, with US gold futures rising 0.3% to $2,625.80. The market is experiencing increased safe-haven demand following President-elect Trump's tariff pledge on imports from Canada, Mexico, and China. Analysts suggest potential turbulence ahead as Trump’s policies come into focus.
UBS is set to fully acquire its China securities joint venture, UBS Securities, as Beijing State-owned Asset Management plans to sell its 33% stake for 1.5 billion yuan ($207.10 million). UBS currently holds a 67% stake and aims to consolidate operations following its merger with Credit Suisse. Established in 2006, UBS Securities became the first foreign majority-owned securities firm in China in 2018.
04:53 26.11.2024
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