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kajaria ceramics maintains buy rating with revised target of rs 1600

Kajaria Ceramics has reported consolidated revenue in line with expectations, driven by resilient tile volume growth, although its OPM was affected by losses in the Bathware unit. The management has slightly adjusted its tile volume growth forecast to 9-10% year-on-year and aims to achieve the lower end of its OPM guidance of 15-17% for FY2025. Sharekhan maintains a Buy rating with a revised price target of Rs. 1,600, anticipating healthy earnings growth over the next three years, with a consolidated revenue target of Rs. 6,500 crore for FY2027.
Moneycontrol
Kajaria Ceramics Limited IND
Finance & Economy, Market Report
09:21 24.10.2024

european stocks rise on strong earnings from multiple sectors

European stocks rebounded, with the Stoxx Europe 600 Index rising 0.6% following positive earnings reports across various sectors after three days of declines. Travel and leisure, along with personal care, drug, and grocery sectors, led the gains. Notably, Unilever Plc saw a boost from accelerating sales growth, while Barclays Plc reported an increase in trading revenue.
bloomberg.com
British Pound Sterling Unilever PLC Barclays PLC GBR Barclays Plc Unilever Plc
Finance & Economy, Market Report
09:18 24.10.2024

eurostoxx 50 faces critical breakout as market outlook remains uncertain

The EuroStoxx 50 is at a critical juncture after months of consolidation below its March peak, with potential movement hinging on the breach of key bearish and bullish obliques. A favorable economic outlook, particularly in China, could trigger a significant bullish rally, while a drop below the bullish oblique may lead to further corrections. Key levels to watch include a buy signal above 5000 points, targeting 5500, with a stop at 4850 points.
IG
Euro
TradFi, Market Report
09:17 24.10.2024

Mahindra Logistics maintains buy rating with revised target of Rs 560

Mahindra Logistics reported consolidated revenue growth driven by its standalone business and a recovery in freight forwarding. However, lower operating margins and express losses impacted profits, with challenges expected in achieving EBITDA breakeven by Q4FY2025. Despite this, the company is focused on turning around its express business and has maintained a healthy order intake, prompting a revised target price of Rs. 560.
Moneycontrol
Mahindra Logistics Limited IND
Finance & Economy, Market Report
09:17 24.10.2024

kpit tech shares plunge 15 percent after jpmorgan cuts target price

Shares of KPIT Technologies plummeted 15% on October 24 after JPMorgan cut its target price to Rs 1,900, citing a revised FY25 revenue growth outlook at the lower end of the 18-22% range due to delays in deal ramp-ups. The brokerage warns that this guidance cut could lead to a weaker H2FY25 and impact FY26 growth. As of 12:23 PM, KPIT Tech's stock was down 13.5% at Rs 1,414, marking its fifth consecutive session of decline and a drop of over 5% since the start of 2024, underperforming the Nifty 50's 12% gain.
Moneycontrol
Indian Rupee KPIT Technologies Limited IND JPMorgan
Finance & Economy, Market Report
09:16 24.10.2024

hitachi energy hires laid off northvolt workers amid industry demand surge

Hitachi Energy is hiring workers from Northvolt AB as the battery manufacturer lays off approximately 1,600 employees in Sweden. The demand for Hitachi's products, including transformers and electricity network equipment, is surging due to the rapid electrification of the economy.
Bloomberg.com
United States Dollar Northvolt AB Hitachi Energy If SWE
Technology & Innovation, News Article
09:15 24.10.2024

Captain Fresh selects bankers for upcoming 400 million dollar IPO

Captain Fresh has selected Axis Capital and BofA as lead bankers for its planned $400 million IPO in 2025, with a valuation target of $1.3-1.5 billion. The offering will consist of approximately 50% fresh shares and 50% an offer for sale. The company, founded in 2019, plans to add 1-2 more banks to its syndicate in the coming weeks.
Moneycontrol
United States Dollar Accel Entertainment, Inc. Prosus N.V. Tiger Global Brazil LLC Bofa Finance LLC Axis Capital Inc. IND Utham Gowda Show more
Finance & Economy, Market Report
09:15 24.10.2024

Dr Lal PathLabs shares fall 6 percent despite 18 percent profit increase

Dr Lal PathLabs shares fell over 6% on October 24 amid profit booking, despite a reported 18% year-on-year increase in net profit to Rs 131 crore for Q2 FY2024-25. Revenue rose to Rs 660 crore from Rs 601 crore in the same period last year. The board also approved a second interim dividend of Rs 6 per equity share for the financial year.
Moneycontrol
Indian Rupee Dr. Lal PathLabs Limited IND
Finance & Economy, Market Report
09:13 24.10.2024

Swiss Bankers Association calls for balanced approach to banking stability reforms

The Swiss Bankers Association (SBA) has expressed concerns over the Federal Council's proposed measures for banking stability, particularly regarding the too-big-to-fail (TBTF) issue, advocating for international coordination on capital adequacy and opposing additional powers for Finma. The SBA supports the introduction of a Public Liquidity Backstop (PLB) but rejects the idea of banks paying an insurance premium for it, emphasizing the need for proportionality in regulation to maintain competitiveness. The association awaits the Parliamentary Commission of Inquiry report to finalize its stance on the proposed measures.
finews.com
Swiss Franc PostFinance AG UBS AG Raiffeisen ETF FUND Credit Suisse Anlagestiftung ZKB Bigler CHE Roman Studer Manuel Ammann Show more
Finance & Economy, Market Report
09:10 24.10.2024

Mike Ashley seeks CEO position at struggling Boohoo Group Plc

Billionaire Mike Ashley has requested to be appointed as CEO of Boohoo Group Plc, criticizing the board for neglecting its largest shareholder amid poor trading results. His Frasers Group Plc described the company's performance as "abysmal" in an open letter released Thursday.
bloomberg.com
British Pound Sterling Frasers Group Plc boohoo group plc GBR Mike Ashley Boohoo Group Plc
Finance & Economy, News Article
09:08 24.10.2024
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