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The sentiment towards China is shifting, with expectations of a major policy pivot aimed at curbing deflation and supporting growth. While the Chinese market shows potential, particularly in internet stocks, the focus is on increasing allocations in Asia ex-Japan equities, especially in India, which remains a fast-growing economy despite recent slowdowns. Investors are encouraged to capitalize on market dips for strategic asset allocation.
Waaree Energies' Rs 4,321-crore IPO was oversubscribed nearly 12 times on its third and final day, with non-institutional investors leading the demand at 36 times their reserved portion. The company, a key player in solar energy with an installed capacity of 12 GW, operates five manufacturing plants across India. Retail and employee quotas were subscribed 7.5 times and 3.5 times, respectively, while qualified institutional buyers subscribed 1.8 times their portion.
Moneycontrol Pro has achieved a significant milestone by surpassing one million paying subscribers, solidifying its status as India's largest news subscription platform and ranking among the top 15 globally. This achievement places it alongside major international media outlets like Financial Times and Barrons. A special celebration at NSE will commemorate this success, featuring a panel discussion with market experts.
India continues to be the world's fastest-growing economy, with the IMF projecting a growth rate of 7% for FY24-25, driven by a recovery in rural consumption and favorable harvests. Inflation is expected to decrease to 4.4%, despite some fluctuations in food prices. The country's macroeconomic fundamentals remain strong, with fiscal consolidation on track and a solid reserve position.
The Sensex and Nifty rose nearly half a percent by noon on October 23, driven by gains in financial and IT stocks, with the Sensex up 351 points at 80,572 and the Nifty up 110 points at 24,583. Auto stocks rebounded, contributing to the Nifty's rise, while broader BSE Midcap and Smallcap indices gained over 1 percent. Despite recent declines due to geopolitical tensions and uncertainty in the US presidential election, the market showed resilience with 2,135 shares advancing.
Ambuja Cement has agreed to acquire a 46.8% stake in Orient Cement Ltd for an equity value of Rs 81 billion, enhancing its operational capacity and access to quality limestone reserves. This strategic move is expected to boost Ambuja's FY26E EBITDA by approximately 8%, with a target price increase of Rs 46, maintaining a 'Buy' recommendation with a target of Rs 756.
Zomato has raised its platform fee from Rs 7 to Rs 10 to ensure service continuity during the festive season. This increase follows a series of hikes since August 2023, aimed at improving profitability, with the company previously adjusting the fee multiple times throughout the year. An additional Re 1 hike could contribute Rs 65 crore to Zomato's annual revenue.
Jubilant Ingrevia reported a modest 2% sequential revenue growth, with a 120bps margin improvement driven by the Pharmaceutical segment's volume and price increases. The Agrochemical sector is expected to recover gradually, while the Nutrition segment saw a 12% YoY revenue rise. However, the acetyl segment declined by 10% YoY due to lower demand and prices. The company is expanding capacities and has signed two CDMO contracts, but challenges in agrochemicals are anticipated until Q4FY25. The stock is rated 'HOLD' with a target price of Rs 696, trading at 43x FY26E EPS.
Persistent Systems reported strong Q2FY25 growth, with revenues of US$345 million, exceeding estimates. The BFS and Healthcare segments drove this performance, while EBIT margins remained stable at 14%. The company achieved a record TCV win of US$529 million and anticipates an 18% CAGR in USD revenues through FY27E, leading to a target price of INR 5,810.
Supreme Industries reported Q2FY2025 earnings that fell short of estimates due to PVC price volatility, weak infrastructure demand, and prolonged monsoons. The management has adjusted its volume growth guidance to 14-15% overall and 16-18% for plastic piping for FY2025. Despite these challenges, a stabilization in PVC prices and anticipated demand recovery in infrastructure, housing, and agriculture suggest a strong performance in H2, prompting a Buy recommendation with a revised target price of Rs. 5,700.
IND
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
us election impact on markets and investment strategies in china and india
08:00 23.10.2024
waaree energies ipo oversubscribed nearly 12 times on final day
07:58 23.10.2024
Moneycontrol Pro celebrates milestone of one million paying subscribers
07:56 23.10.2024
India projected as the world's fastest growing economy by IMF
07:50 23.10.2024
Indian markets rebound as IT and financial stocks drive gains
07:46 23.10.2024
ambuja cement targets growth with strategic acquisition of orient cement stake
07:41 23.10.2024
Zomato raises platform fee to support services during festive season
07:36 23.10.2024
Jubilant Ingrevia reports modest growth amid challenges in agrochemical sector
07:36 23.10.2024
persistent systems reports strong growth with target price of 5810
07:31 23.10.2024
Supreme Industries receives buy rating with revised target of 5700 rupees
07:24 23.10.2024
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