Property registrations in Mumbai fell 27% month-on-month in November to 9,419 units, reflecting a 3% year-on-year decline, attributed to a market pause post-festivities and ongoing elections. Despite this, stamp duty collections rose 16% year-on-year to Rs 826 crore, driven by high-value transactions, which accounted for 23% of registrations. The affordable housing segment continues to face challenges, prompting developers to adopt innovative pricing and flexible payment strategies to stimulate sales.
Leidos has been initiated with a Neutral rating by UBS, which set a price target of $182, citing a strong book-to-bill ratio and a solid growth trajectory despite expected slower growth in 2025. The company recently secured a $235 million contract to modernize the Organ Procurement and Transplant Network and reported a record adjusted EBITDA margin of 14.2% in Q3 2024, raising its revenue guidance for the year. Meanwhile, JPMorgan increased its price target to $205, reflecting strong performance in the Federal IT sector, particularly in Health & Civil services.
10:38 02.12.2024
The Reserve Bank of India has maintained a pause on interest rates amid strong growth conditions, but a disappointing Q2 GDP growth of 5.4% raises concerns. The slowdown is attributed to declining corporate profits and weak urban consumption, despite some support expected from rural demand post-harvest. Full-year GDP growth is projected at 6.3%, falling short of the RBI's 7.2% estimate.
UBS has maintained a 'Buy' rating for Stellantis, setting a target price of 16 euros following the unexpected resignation of CEO Carlos Tavares. Analyst Patrick Hummel emphasized the urgency of appointing a new leader, as Tavares had initially planned to leave in 2026.
10:37 02.12.2024
Alwatania, the largest poultry producer in the Middle East, is reportedly considering a sale as Saudi Arabia's drive for food self-sufficiency enhances the industry's appeal. The company has engaged BSF Capital as an adviser for the potential deal, which could be valued at up to 2 billion riyals ($532 million).
Basellandschaftliche Kantonalbank (BLKB) has joined the Asset Management Association, increasing the number of cantonal banks in the organization to nine. Founded in 1864, BLKB is one of Switzerland's oldest cantonal banks. Following the announcement, BLKB shares saw a temporary decline of 0.47%, trading at 848 francs.
10:35 02.12.2024
Sharekhan has reiterated a Buy rating on Hindustan Unilever, maintaining a target price of Rs 3,079. The company is poised for high double-digit growth in six categories, driven by ten power brands, effective working capital management, and a focus on capital allocation and M&As. Despite an 18% correction from recent highs, the stock trades at 56x/51x/46x its FY25E/FY26E/FY27E EPS.
The Group of Ministers (GoM) on GST rate rationalisation has finalised its report on adjustments for several items during a meeting on December 2. This report will be submitted to the GST Council, which is set to discuss it in the upcoming meeting on December 21, led by Finance Minister Nirmala Sitharaman in Jaisalmer, Rajasthan.
Insider transactions at Snowflake Inc. revealed significant stock sales, with Director Frank Slootman selling 59,617 shares for over $10.5 million, reducing his ownership by 22.22%. Following these trades, insiders have sold a total of 264,278 shares worth approximately $42.5 million in the last three months. Currently, insiders hold 7.80% of the company's stock, while institutional investors own 65.10%.
Liechtenstein is emerging as a prime fund domicile, benefiting from its customs union with Switzerland and membership in the EEA, allowing tax-free net fund assets and swift approval processes. The country boasts a stable economy, a sound fiscal policy, and a strong reputation for asset protection, making it attractive for investors and fund promoters alike. With a diversified economy and a commitment to transparency, Liechtenstein is positioning itself as a dynamic player in the European financial landscape.
10:27 02.12.2024
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