Sunday, December 29, 2024 | 04:56 AM ISTEN Hindi

Indices end near records; Sensex gains 529 pts; RIL up 2.5%, Infy dips 1%

Markets will remain shut on Friday on account of Christmas.

SI Reporter New Delhi

8:59 AM

News Flash | Anupam Rasayan files DHRP with regulator for Rs 760 crore IPO

8:59 AM

BROKERAGE VIEW :: Antique Broking on Hindalco Industries

CMP: Rs 236 | TP: Rs 282 | Reco: Buy

Higher automotive shipments and firm aluminium prices would aid Novelis in meeting the management EBITDA guidance of USD480-500 per tonne. We raise our EBITDA per tonne assumptions at Novelis by 7-8% over FY21-FY23 leading to a higher SoTP-based target price of INR 282 per share as compared to INR228 earlier. We maintain our BUY rating on the stock, considering the balanced business portfolio, integrated aluminium business model and improvement in profitability from the value-added product capacity expansion in the domestic market.

8:56 AM

BROKERAGE VIEW :: Kotak Institutional Equities on Telecom

TRAI’s subscriber data for October 2020 indicates—(1) Bharti sustained its lead on net additions for the third straight month, adding 3.7 mn subs, (2) Jio disappointed again on wireless front with net additions of 2.2 mn and VLR addition of just 1.1 mn, albeit it gained some traction on FTTH and (3) VIL continued to grapple with subscriber loss, at 2.7 mn. We continue to like Bharti, finding it best placed to gain from potential recovery in sector economics.

8:50 AM

BROKERAGE VIEW :: Kotak Institutional Equities on GAIL

CMP: Rs 118 | TP: Rs 140 | Reco: Buy

We expect GAIL to benefit from an improvement in outlook for—(1) gas marketing segment led by a recovery in spot and crude-linked LNG prices, (2) petchem segment led by robust rise in PE margins, (3) LPG segment led by recovery in prices and reduction in input gas cost and (4) transmission segment led by growth in gas consumption. We prefer GAIL as a crude hedge over upstream PSUs and reiterate BUY with a revised Fair Value of Rs140 (Rs120 earlier).

8:47 AM

Top stocks to watch today

Mrs Bectors: Mrs Bectors Food shares will debut at the stock bourses today. The IPO with 198 times bid is the most subscribed issue of CY 2020.

DTH service providers: The stocks of DTH service providers such as Dish TV, Hathaway Cables, Den Networks will be in focus today after the Union Cabinet approved changes to the guidelines for providing Direct to Home (DTH) services to bring it in line with the existing policy that allows 100 per cent FDI in the DTH broadcasting services sector. It also said that licences will now be issued for 20 years with a renewal provision after every 10 years. READ MORE

8:40 AM

BROKERAGE VIEW :: MOFSL on Pidilite

CMP: Rs 1,731 | TP: Rs 1,605 (-7%) | Reco: Neutral

>> We maintain a Neutral rating on the stock from a one-year perspective on account of expensive valuations (68x FY22 EPS) and uncertain near-term recovery, especially in the B2B part of the business (~15% of sales). However, initiatives to expand the Growth and Pioneer categories could go a long way in revitalizing medium-term sales and earnings growth, which have dropped significantly in the past four years. We maintain Neutral, with TP of INR1,605 (55x Dec’22E EPS)

8:31 AM

Trading strategies for Crude oil and Zinc

Oil rally, fueled by vaccine progress, is running out of steam. With fresh lockdown from the UK and more lockdown appearing in European countries, demand for crude is likely to take hit during Christmas season which usually is peak demand season for crude. Flights have been out of commission and travelling is also getting banned. API news agency reported higher-than-expected inventory which sent crude prices down. READ MORE