Indian markets are unlikely to see a significant rally until corporate earnings improve, as recent Q2 results led to steep downgrades, particularly in the oil refining sector. Experts suggest that it may take another 2-3 quarters for a meaningful recovery, with current valuations appearing stretched. Investor sentiment remains cautious amid foreign outflows and a strengthening dollar, with Q3 results seen as a potential catalyst for market movement.
Electric vehicle (EV) sales are gaining market share, with internal combustion engine vehicles dropping from 78% to 63% over two years, while EVs nearly doubled their share from 10% to 17.4%. Despite some market declines, particularly in Europe, the overall trend shows a strong shift towards EVs, driven by declining battery costs and improved technology. By 2030, replacing an EV battery is projected to be cheaper than replacing a gas engine, further encouraging consumer adoption.
Japan's SBI has disclosed its exposure to Adani Funds, following Nomura's lead, amid global repercussions from US federal prosecutors indicting Gautam Adani over an alleged bribery scheme. Kenya has canceled $2.6 billion in contracts with Adani's conglomerate, while TotalEnergies SE has paused new investments pending clarity on the situation. SBI's mutual fund exposures range from 0.21% to 2.55%, with Nissay's between 0.02% and 0.24%.
Asian markets are bracing for pressure as President-elect Donald Trump plans to impose trade tariffs on Mexico, Canada, and increase levies on China. Analysts predict that Asian currencies, particularly the Korean won and Thai baht, will underperform, while stocks in China, Mexico, and Canada, especially those reliant on US exports, are expected to decline.
Anand Rathi has upgraded Astral Ltd to a Buy rating with a target price of Rs 2,666, reflecting strong expected growth in revenue, EBITDA, and PAT over FY24-27. Despite a challenging PVC pricing environment, the company maintained stable gross margins at 38.9%, although PAT fell 16% year-on-year due to reduced other income and increased expenses.
Shares of GE Vernova T&D India fell to the lower circuit limit of 5% at Rs 1,823.50 after promoter Grid Equipments Private Ltd announced plans to sell up to 8.38% of its stake. The offer for sale includes a base of 1.4 crore equity shares, with a floor price set at Rs 1,550 per share.
Foreign institutional investors (FIIs) are increasing bullish positions as the Nifty index hovers above 24,200, with immediate resistance at 24,350 and support at 24,200. A 1.62% rise in open interest for Nifty November futures indicates sustained bullish activity, with analysts noting that a breakout above 24,350 could lead to a target of 24,550. Immediate support levels are identified at 24,130–24,100, with further support at 23,980.
The global Healthcare RFID Market is experiencing significant growth driven by technological advancements, changing consumer preferences, and a focus on sustainability. Key objectives include forecasting market size across regions, analyzing growth factors, and identifying major players and opportunities. The report emphasizes the importance of strategic insights and competitive analysis to navigate this evolving landscape effectively.
Findi has acquired Tata Communications Payment Solutions, adding 4,600 ATMs and significantly expanding its digital payment network. This strategic move is expected to enhance Findi's revenue and EBITDA, leading to an upgraded valuation of A$9.68 per share, reflecting strong growth potential in FY 2026. The upcoming H1 FY 2025 results will provide further insights into the impact of this acquisition on Findi's financial performance.
IG
05:19 26.11.2024
The year 2024 has seen a significant influx of funds through IPOs, with over 75 companies raising more than Rs 1.2 lakh crore. However, around 40% of these new entrants are now trading below their issue prices, following a market correction that began in October. Notable companies like ECOS India Mobility and Ola Electric Mobility, which initially had strong debuts, are now facing declines in their stock values.
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