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-The local currency closed 12 paise weaker against the U.S. Dollar at 83.47.
-It closed at 83.35 on Friday.
Source: Bloomberg
Market breadth was skewed in favour of the buyers. Around, 2,038 stocks rose, 1,875 stocks declined, and 175 stocks remained unchanged on BSE.
Revenue up 4.8% to Rs 1,318 crore from Rs 1,257 crore
Ebitda up 5.6% at Rs 220 crore from Rs 209 crore
Margin up 10 bps at 16.7% from 16.6%
Net profit up 5.9% at Rs 166 crore from Rs 157 crore
Multiple Headwinds For SBI Cards Keep Brokerages Wary| Q4 Review
Stock Market Live: Nifty, Sensex Near Day's High As ICICI Bank, RIL Lead Gains
Out of seven analysts tracking the company, five maintains a 'buy' rating, two recommend a 'hold', according to Bloomberg data. The average 12-month consensus price target implies an upside of 3.5%.
Shares of Craftsman Automation Ltd. fell as much as 6.76%, the lowest level since April 24, before paring loss to trade 5.54% lower at 11:34 a.m. This compares to 0.51% advance in the NSE Nifty 50.
The stock has gained 42.86% in 12 months, and fallen 18.08% year-to-date. Total traded volume so far in the day stood at 2.7 times its 30-day average. The relative strength index was at 52.66.
Cetrorelix Acetate is bioequivalent to Cetrotide
Source: Exchange Filing
The scrip fell as much as 8.40% to Rs 5,733 apiece, the lowest level since January 10. It pared losses to trade 6% lower at Rs 5,833.95 apiece, as of 10:57 a.m. This compares to a 0.47% advance in the NSE Nifty 50 Index.
It has risen 3.6% on a year-to-date basis and 24.68% in the last twelve months. Total traded volume on the NSE so far in the day stood at 3.61 times its 30-day average. The relative strength index was at 36.65.
Out of 27 analysts tracking the company, 24 maintain a 'buy' rating, one recommend a 'hold,' and two suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 18.5%.
Maintain Neutral, TP cut to Rs.1,370 from Rs.1,440, Downside: 7%
FY25 Guidance below expectations
HCL is the only company where we expect FY25 to be similar to FY24, for rest we expect improvement
Overall discretionary environment remains weak
HCL was the only company in our coverage to add headcount
HCL's valuation are at a premium to its own history
Our key takeaway is that near-term demand continues to be weak
The market breadth was skewed in the favour of buyers. Around 2,199 stocks rose, 722 fell and 136 remain unchanged.
Citi Maintains 'Buy' With Target of Rs 1,950
Citi's top pick; best positioned to benefit from industry tailwinds
SBI Life’s strong operating ROEV at ~22% in FY2024E captures robust reserve releases
VNB margin at ~28.3% in 4QFY24 within management’s stated range
Commentary on steady growth,product-level margins provide comfort
Expects stable margins over medium term
Channel diversification driving cost pangs can dent favourable mix change
Pickup in agency and non-core channels a positive lever for growth
Expect lagged impact of agent additions to drive volume accretion
Current valuation discount remains unwarranted
Target price for BSE cut to Rs 2,550 from Rs 3,100 earlier
SEBI raised demand on BSE and MCX to calculate regulatory fees and pay the differential amount
Amount insignificant for MCX - Rs 44mn for past reconciliation and 1-2% of EPS going ahead
For BSE
Expect 40-50% earnings cut
Expect 30-40% cut in FY25/26e EPS on one-time cost of Rs 1.65bn and recurring expense
Estimate BSE would increase option tariff by 44% or by Rs 930 cr of premium turnover to offset impact
Estimate cost to increase in FY26e to Rs 4.5bn or 40% of FY26e PBT
Expect stock to consolidate post correction; until visibility on new earning triggers improve
Acetaminophen & Ibuprofen Tablets will be distributed in US by Glenmark Therapeutics Inc, USA
Source: Exchange Filing
The NSE Nifty 50 was trading 55.60 points or 0.25% higher at 22,475.55, and the S&P BSE Sensex was trading 252.59 points or 0.34% higher at 73,982.75.
The yield on the 10-year bond opened largely flat at 7.18%
Source: Bloomberg
The local currency opened 4 paise weaker against the U.S. Dollar at 83.39.
It closed at 83.35 on Friday.
Source: Bloomberg
Motilal Oswal Maintains Neutral On IDFC First Bank At Rs 88 Target
Q4 earnings in line, credit costs near normalized levels
Estimate 30% earnings CAGR over FY24-26
Expect RoA/RoE to reach 1.3%/13.2% in FY26
Outlook broadly stable despite 7bps QoQ NIM contraction
Believe C/I ratio may remain elevated in near term
Improvement in operating leverage, steady loan growth to support bank's underlying profitability
Nirmal Bang Upgrades to Accumulate, Target Rs 1,460
The FY25 revenue guidance has come in a bit lower than expected
FY25 may represent the third year in succession of peer set leading revenue growth despite the slowdown
The discount is due to the weakening of margins in the services business
The upgrade is largely due to the stock price correction of 12% from mid-March 2024.
Investec Rates Under Review On BSE From Buy Earlier
TP Under Review earlier Rs 2,800
SEBI's directive to BSE to pay regulatory fees could impact PBT by 17-18% for FY25/26e
BSE could offset impact by taking price hikes
Exchange could take a one-time provision of Rs 963 million for FY24
Cumulative impact of past volumes from FY 07-24 ~Rs 1.2 billion
RIDF balances causing drag on margins
Calibrating moving towards ROA accretive products
Recoveries & upgradation at about Rs 6,000 cr
In FY25, we see recoveries & upgradation at similar levels
Want PCR to go past 70% next year
Retail slippages may go up in FY25
Slippage ratio for FY25 at lower end of 2-2.5%
One account from mid-corporates slipped into NPA in Q4; account from a road project
Resolution for delisting of ICICI Securities passed by requisite statutory majority
Petition for approval of delisting scheme is listed for hearing before NCLT, Ahmedabad
Bank aware that certain shareholders have filed application before NCLT seeking directions in relation to the delisting scheme
Appropriate representation shall be made in relation to the application
Source: Exchange filing
Demand notice worth Rs 99 crore from SEBI for FY 2007-2023
Remittance demand based on annual turnover considering notional value in case of option contract
Source: Exchange filing
Vodafone Idea: ATC Telecom Infrastructure sold 144 crore shares (2.95%) at Rs 12.78 apiece, while Citigroup Global Markets Mauritius bought 49.12 crore shares (0.98%) at Rs 12.7 apiece.
Citi Buys Vodafone Idea Shares For Rs 611 Crore After ATC Telecom Exits
Small Finance Banks Can Apply For Universal Bank Licence, Says RBI
Maruti Suzuki Q4 Results: Profit Up 48%, Meets Estimates
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