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Tata Consumer Products shares rise after Goldman Sachs upgrades to buy

Shares of Tata Consumer Products surged over 8% after Goldman Sachs upgraded the stock to 'Buy' and raised its target price to ₹1,200, citing strong earnings growth potential driven by tea margin recovery and ongoing innovation. Despite a flat net profit of ₹279 crore in Q3 FY25, revenue rose 17% to ₹4,444 crore, indicating resilience amid competitive pressures. The stock remains 14% below its 52-week high but has gained over 21% from its low in December 2024, reflecting renewed investor interest.

Tata Consumer shares rise after Goldman Sachs upgrades to buy rating

Shares of Tata Consumer Products surged 4.8% to 1,039.85 rupees following an upgrade by Goldman Sachs to "buy" from "neutral," with a price target raised to 1,200 rupees. The brokerage anticipates strong earnings growth from fiscal year 2026, driven by recovering tea margins and price hikes, while also increasing EPS estimates for FY2026/2027 by 3% and 7%. With an average rating of "buy," Goldman Sachs' target suggests a potential upside of about 20% from the stock's last close.

Indian markets rebound after seven-day decline amid mixed global cues

Indian equity markets ended a seven-day losing streak on November 19, with the Nifty closing at 23,518.50, up 64.70 points or 0.28%. Key gainers included M&M, Trent, and HDFC Bank, while SBI Life Insurance and Reliance Industries were among the top losers. The market was closed on November 20 for Maharashtra Assembly polls, with sectors like media, auto, and realty showing gains, while metal and oil & gas sectors declined.

India's K-shaped recovery shows signs of slowing in premium consumption segment

Saurabh Mukherjea of Marcellus Investment Managers highlights a slowdown in India's premium consumption segment, previously thought to be insulated in the K-shaped recovery. This shift is attributed to weak formal job creation, particularly in IT services, leading to declining passenger vehicle sales and softer consumer demand. Anticipating a political shift towards rural support, Marcellus has adjusted its portfolio, adding Godrej Agrovet and Tata Consumer Products, recognizing Godrej Agrovet as a strong rural recovery play.

Saurabh Mukherjea highlights rural consumption and luxury investment opportunities

Saurabh Mukherjea of Marcellus Investment Managers is focusing on rural consumption as a key investment strategy, anticipating government support for rural India. His firm has invested significantly in Godrej Agrovet, capitalizing on its potential for recovery, and in Tata Consumer Products, based on strong FMCG revenue growth prospects.

global markets decline as us indexes fall and indian stocks signal weakness

US stock indexes closed lower as chip stocks fell, with the Dow down 91.51 points, the S&P 500 down 19.25 points, and the Nasdaq down 104.82 points. GIFT Nifty indicates a weak start for Indian markets, with a projected loss of 98 points. The Nifty 50 has been consolidating between 24,100 and 24,500, while recent trading saw the Sensex drop 426.85 points amid selling in banking, metal, and IT sectors.

ubs third quarter results exceed expectations amid global economic uncertainties

UBS Group AG reported a third-quarter net income of $1.4 billion, significantly surpassing analyst expectations of $783.3 million, driven by strong lending income and cost reductions. However, the bank cautioned about potential challenges from the US elections and declining interest income, while also navigating the integration of Credit Suisse amid regulatory uncertainties that could increase capital requirements by up to $25 billion. UBS plans to continue share buybacks and is considering acquiring a US wealth management firm post-integration.
07:49 30.10.2024

Indian stock market ends lower amid final hour selling pressure

Indian stock markets ended on a negative note on October 23, with the Sensex down 138.74 points at 80,081.98 and the Nifty down 36.60 points at 24,435.50, despite initial gains. The session was marked by volatility, with final hour selling pressure erasing earlier intraday gains. Among the top gainers were Bajaj Finance, Bajaj Auto, and Tech Mahindra, while M&M and Sun Pharma were among the notable losers.

Indian markets close lower as final hour selling erases gains

Indian markets closed lower on October 23, with the Sensex down 138.74 points at 80,081.98 and the Nifty falling 36.60 points to 24,435.50. Despite initial gains, final hour selling pressure led to losses, influenced by mixed global cues. Top gainers included Bajaj Finance and HCL Tech, while M&M and Sun Pharma were among the notable losers.
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