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McDonald’s Corp. is set to launch a revamped value menu in the U.S. on January 7, aiming to attract budget-conscious diners. The new McValue menu will feature a $5 Meal Deal and a “Buy One, Add One for $1” offer, allowing customers to mix and match items.
Hong Kong's Hang Seng Index will see the addition of Kuaishou Technology and New Oriental Education & Technology Group Inc., while New World Development Co. will be removed in a quarterly review. This change will increase the index's membership from 82 to 83.
The Harvard Endowment, historically the largest among universities, is at risk of being surpassed by the University of Texas due to a mix of internal challenges and external controversies. Texas benefits from a significant energy windfall, creating unique advantages that Harvard struggles to match. Bloomberg’s higher education reporter Janet Lorin discusses the factors contributing to this shift in capital dynamics.
Godrej Properties shares surged nearly 5% after Bank of America upgraded the stock to 'Buy' and raised its target price to Rs 3,600, citing an attractive risk-reward profile. The stock has gained over 40% year-to-date, significantly outperforming the Nifty 50's 9% rise. BofA highlighted a robust residential real estate cycle and projected over 20% CAGR in bookings, with expectations for collections and operating cash flow growth to outpace bookings.
Goldman Sachs has upgraded Info Edge to a Buy rating, raising the target price to Rs 8,600 from Rs 5,700, citing improved demand for Indian IT companies. The recruitment segment is projected to grow at a CAGR of 16% from FY25-28, while 99acres is expected to achieve over 20% revenue growth. Additionally, the stake in Zomato, representing about 33% of Info Edge's market cap, contributes to the positive outlook.
Raymond's shares jumped over 7% to Rs 1,535 on November 22 after receiving a 'no objection' letter from BSE and NSE for the demerger and listing of its realty business, Raymond Realty. This follows the board's approval on July 4, 2024, to separate the lifestyle and realty segments, allowing both to operate as independent listed companies. Shareholders will receive one share of Raymond Realty for each share held in Raymond, with 6.65 crore shares issued at a face value of Rs 10 each.
Swiss private bank Pictet is set to launch an Asia Desk in Zurich in early 2025, aimed at serving clients from North and Southeast Asia. The team will include experienced professionals, with key members joining from Lombard Odier, and will leverage Switzerland's geopolitical stability and investment expertise to cater to the needs of Asian clients. CEO Victor Aerni emphasizes the desk's potential to enhance Pictet's growth in the region.
CapitaLand Investment Ltd., a major property investment manager in Asia, has signaled potential losses as it aims to reduce its exposure to China's real estate sector. The Singapore-based firm plans to limit its investments in the country to 10-20% of its projected S$200 billion ($149 billion) in funds under management by 2028.
Investec has initiated coverage on Sobha Ltd. with a 'buy' rating, projecting a 42% upside to a price target of Rs 2,150 per share. The stock has surged approximately 79% over the past year, and the brokerage highlights Sobha's strong operating cash flow and plans to expand into the Mumbai and Noida markets within 2-3 years.
Morgan Stanley and JPMorgan maintain 'Overweight' ratings on Reliance Industries, with target prices set at ₹1,662 and ₹1,468, respectively. Analysts note a recovery in refining margins and improved prospects in new energy, despite challenges in retail growth and recent stock corrections. Jefferies has rated State Bank of India a 'Buy'.
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