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RITES shares rose after the company secured a Rs 454-crore turnkey contract from the Karnataka Mining Environment Restoration Corporation for constructing two railway private freight terminals in Ballari District. This contract, previously a project management consultancy agreement, marks a significant project under the Comprehensive Environment Plan for Mining Impact Zone. RITES stock has increased approximately 17% this year, outperforming the Nifty's 12% return.
The global Talent Management Solutions for Healthcare market is poised for significant growth from 2024 to 2031, driven by rising consumer demand and strategic investments. The report provides a comprehensive analysis of market dynamics, key players, and regional trends, highlighting challenges such as competition and low-cost alternatives. It also outlines opportunities for businesses to enhance their market presence and adapt to evolving industry needs.
The Union finance ministry is considering the removal of the windfall tax on local crude oil output, as stated by Tarun Kapoor, an advisor to the Prime Minister. He noted that the tax, first imposed in 2022, has become irrelevant due to a significant drop in global oil prices. Recently, the government reduced the windfall tax on domestically produced crude oil by 11.9%, lowering it to Rs 1,850 per tonne from Rs 2,100 per tonne, effective August 31.
Anand Rathi maintains a Buy rating on Bajaj Finance with a target price of Rs 7905, citing a healthy 29% year-on-year AUM growth despite high provisions of Rs 19.1 billion leading to a muted 13% PAT growth. The firm emphasizes the company's strong execution, customer base, and technology, while adjusting estimates due to increased credit-cost assumptions. At the revised target price, the stock would trade at 4.4x FY26e consolidated BV and 23x FY26e EPS, reflecting its historical higher valuations.
Mahindra Finance reported weaker profitability in Q2FY25, with a PAT of Rs3.7bn, falling short of estimates due to a surge in credit costs. Despite this, management is optimistic about asset quality and credit-cost normalization in H2, supported by a rebound in tractor sales and a favorable valuation. Emkay Global Financial maintains a BUY rating with a target price of Rs360 for September 2025.
Firstsource Solutions shares surged 10% to Rs 344 on October 23, following the announcement of a new large language model (LLM) tailored for the U.S. mortgage sector. This initiative, part of the Firstsource relAI suite, aims to enhance mortgage services with AI-driven features such as credit assessments and document digitization, streamlining the loan application process. The LLM promises a seamless digital experience, combining self-service convenience with personalized loan officer support.
In a significant setback for Byju's, the Supreme Court has overturned the NCLAT's approval of a Rs 158 crore settlement with the BCCI. The Court found that the NCLAT had breached procedures under the Insolvency and Bankruptcy Code, leading to the transfer of the funds to an escrow account managed by the Committee of Creditors.
Emkay Global Financial has maintained a "BUY" rating on Bajaj Finance, adjusting the target price to Rs 8,800 from Rs 9,300 due to a slight miss in profitability and elevated credit costs. Despite a revised FY25 credit-cost guidance of 2.05%, management anticipates credit costs to peak in H1, supporting a robust earnings growth outlook with over 20% RoE.
Bajaj Finserv (BJFIN) confirmed Allianz Group's intent to exit its 23-year insurance joint ventures in India, a move speculated since 2016 due to regulatory issues. This exit is not expected to impact the operations of BALIC and BAGIC significantly. Should BJFIN acquire Allianz's stake, it may require a capital raise, influencing share price based on the transaction details.
India has achieved a remarkable feat by ranking 4th globally in market capitalization at $5.6 trillion, despite a low per-capita income of around $3,000. Ashishkumar Chauhan, CEO of the National Stock Exchange, noted that this growth, from $2.8 trillion five years ago, reflects significant changes in the equity market since 2014, showcasing India's unique position among nations with similar income levels.
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RITES secures 454 crore turnkey contract for railway terminals in Karnataka
08:42 23.10.2024
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08:38 23.10.2024
government considers ending windfall tax on crude oil production
08:32 23.10.2024
Bajaj Finance receives buy rating with target price of 7905 rupees
08:30 23.10.2024
Mahindra Finance target set at Rs 360 amid credit cost concerns
08:15 23.10.2024
Firstsource Solutions shares surge on new AI language model for mortgage sector
08:13 23.10.2024
Supreme Court overturns settlement between Byju's and BCCI in insolvency case
08:12 23.10.2024
Bajaj Finance receives buy rating with revised target price of Rs 8800
08:09 23.10.2024
Bajaj Finserv confirms Allianz's intent to exit Indian insurance joint ventures
08:06 23.10.2024
India ranks fourth globally in market capitalization despite low per capita income
08:00 23.10.2024
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