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IIFL Securities retains 'sell' rating on Kotak Mahindra Bank stock as Joint MD exits RBI-hit lenderWhile the Kotak Mahin...
01/05/2024

IIFL Securities retains 'sell' rating on Kotak Mahindra Bank stock as Joint MD exits RBI-hit lender
While the Kotak Mahindra Bank stock has underperformed 18% over the last one year, analysts at IIFL Securities still find its valuations expensive compared to others

A week after stringent action from the Reserve Bank of India (RBI) on new credit card issuances, there is yet another negative surprise for Kotak Mahindra Bank as Joint Managing Director KVS Manian tendered his resignation with immediate effect. He got elevated at the Mumbai-headquartered lender two months ago.

Following this, IIFL Securities retained a 'sell' rating on Kotak Mahindra Bank and shared a target price of Rs 1,800 per share. While the stock has underperformed 18 percent over the last one year, analysts still find its valuations expensive against peers.

"We find valuation of 2.5x core P/B and PEG ratio of 1.5 (versus 0.6-1.2 for peers) still expensive in the context of structurally lower ROAs. With the new CEO appointment, we would be watchful of any senior management exits," the brokerage firm said.

Ultratech stock in focus after strong Q4: Should you buy, sell or hold the stock?Domestic grey cement sales grew by 11% ...
30/04/2024

Ultratech stock in focus after strong Q4: Should you buy, sell or hold the stock?
Domestic grey cement sales grew by 11% YoY and 31% sequentially to 33.22 million tonnes, while smaller segments like white cement and ready mix also saw growth; though cement exports dipped slightly.

Ultratech Cement posted strong revenue and profit in Q1, driven by double-digit volume growth and lower costs. However, declining prices were a concern due to erratic cement pricing across the country. The management expects subdued demand this fiscal year but does not anticipate a prolonged slowdown.

The company reported strong financials, with consolidated net profit at Rs 2258 crore, up 36% YoY and 27% QoQ, and consolidated sales at Rs 20,419 crore, up 9.4% YoY and 22% QoQ. EBITDA stood at Rs 4,250 crore, up 25% QoQ and 23% YoY, with consolidated net debt at Rs 2,779 crore as of March 31.

Domestic grey cement sales grew by 11% YoY and 31% sequentially to 33.22 million tonnes, while smaller segments such as white cement and ready mix also saw growth; though cement exports dipped slightly.

Brokerage views

After the results, most brokerages maintained their ratings. Dolat Capital upgraded the stock to buy from accumulate, setting a revised target price of Rs 11,485 per share. Nuvama maintained a hold rating with a target price of Rs 10,024 per share. Jefferies India retained its buy rating but marginally lowered the target price to Rs 11,500 from Rs 11,560 per share.

April 29, 2024: Monday: K.6: PurvaShadha: Good dayHigher opening is expected.  The opening gap should get filled by the ...
28/04/2024

April 29, 2024: Monday: K.6: PurvaShadha: Good day

Higher opening is expected. The opening gap should get filled by the end of the day. Markets have become very good for basket trading strategies, as sideways movement is best for market neutral basket strategies. We are going to witness another 6 months of sideways volatility. Breakout in midcap stocks will surprise many investors.

Natural resource and metals could hog the limelight. A smart recovery in IT cannot be ruled out. Negative closing BTST is highly recommended.

April 30, 2024: Tuesday: K.7: U. Shadha: Short sell Day

Divergence indicators could give the best results. Tithi is slightly bullish, and one should look for oversold reversal indicators for the buy side trades. Buy and SELL strategy would give nice intraday profits.

In case markets give big positive then BTST is highly recommended, crucial time to watch during the day is from 13.40 to 14.25 – 15 minutes signals can give magic trades.

May 02, 2024: Thursday: K.9: Dhanishta: Volatile day

Higher opening and rise in many stocks would suddenly make everyone active in the markets. Sentiment would be more of excitement and euphoric than normal, most people will be caught on the wrong foot, adding extra volatility. Greed in the market would be visible, surprise and excitement will hurt most of the participants, while sentiment would be positive, most traders will find their position by the end of the day in negative. Navami has tendency to trap bulls on the wrong foot, it is difficult to retain bullish profits earned under influence of Navami.

May 03, 2024: Friday: K.10: Shatataraka: Positive till 13

Listen to what market is trying to say or indicate. Market intelligence will play important role, delayed participation in the markets would give better clarity and profits. Trade executed from 10.30 to 11.45 will give much better results and can be carried as overnight trade as well. Natural resource especially Mining stocks could give best results.

All the sectoral indices ended in the green with Nifty PSU Bank index surging 6.4 percent, Nifty Realty climbing 4.6 per...
27/04/2024

All the sectoral indices ended in the green with Nifty PSU Bank index surging 6.4 percent, Nifty Realty climbing 4.6 percent, Nifty Metal index rising 3.5 percent and Nifty Pharma jumping 3 percent.

During the week, Foreign institutional investors (FIIs) sold equities worth Rs 14,703.72 crore, while Domestic Institutional Investors (DII) bought equities worth Rs 20,796.16 crore. However, for the month till date, FIIs sold equities worth Rs 36,933.21 crore and DIIs purchased equities worth Rs 42,065.12 crore.

"We expect a consolidation in the near term, leading investors to seek refuge in bonds and gold. Additionally, upcoming US FED policy, US nonfarm payroll data will dictate the global market, while the ongoing Q4 earnings reports are poised to influence the domestic market dynamics," he added.

The BSE Small-cap index gained 4 percent with more than 100 stocks gained between 10-45 percent.

Kirloskar Pneumatic, Ester Industries, Tejas Networks, Aegis Logistics, MOIL, Inox Wind Energy, Magellanic Cloud, Kirloskar Industries, Balu Forge Industries, Cochin Shipyard, Sterling and Wilson Renewable Energy, Vardhman Special Steels, Vimta Labs, GMR Power and Urban Infra and TD Power Systems jumped 20-45 percent.

On the other hand, Aster DM Healthcare, Sun Pharma Advanced Research Company, Gujarat State Petronet, Ramco System, Heubach Colorants India lost between 10-31 percent.

Broader indices outperform; More than 100 smallcaps give double digit returnFor the short term, 22,620-22,630 will act a...
27/04/2024

Broader indices outperform; More than 100 smallcaps give double digit return
For the short term, 22,620-22,630 will act as resistance for the Nifty. If the index sustains above 22,630, Nifty could attempt to break its all-time high of 22,776, says Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta.

Nifty Midcap 100 index gained 4 percent to touch fresh all-time high of 50,684.50.
Broader indices continued to outperform the main indices in the week ended April 26 as mid and smallcap indices jumped 4 percent each with more than 100 small-cap stocks giving double-digit return.

During the week, the market remained volatile with positive bias amid mixed cues including geopolitical de-escalation, falling crude oil prices, mixed 4QFY24 earnings, weaker-than-forecasted GDP growth, higher inflation and rising US bond yield.

This week, BSE Sensex gained 641.83 points or 0.87 percent to end at 73,730.16, while Nifty50 index finished at 22,420, rising 273 points or 1.23 percent.

The broader indices outperformed the main indices with BSE Small-cap and mid-cap surging 4 percent each and the Large-cap index rising 1.5 percent.

However, Nifty Midcap 100 index gained 4 percent to touch fresh all-time high of 50,684.50.

Results on April 26: Maruti Suzuki India, HCL Technologies, Aditya Birla Sun Life AMC, Bajaj Finserv, SBILife Insurance ...
26/04/2024

Results on April 26: Maruti Suzuki India, HCL Technologies, Aditya Birla Sun Life AMC, Bajaj Finserv, SBILife Insurance Company, Shriram Finance, Bajaj Holdings & Investment, CSB Bank, Eveready IndustriesIndia, Force Motors, Indiabulls Real Estate, Bank of Maharashtra, Mastek, Motilal Oswal Financial Services,and SBI Cards and Payment Services will release March quarter earnings on April 26.

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