Oil prices ease as market awaits China data to gauge demand
Oil prices eased on Tuesday, giving up most of the gains from the previous day, on concerns over weak demand in China, with investors focusing on trade data due later in the day to gauge demand from the world’s second-largest oil consumer.
Brent crude futures fell 23 cents, or 0.3%, to $84.95 a barrel by 0127 GMT while U.S. West Texas Intermediate crude was at $80.59 a barrel, down 23 cents, or 0.3%.
Both benchmarks gained about 30 cents on Monday after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year.
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Market volatility increases on more disclosures for MFs; Nifty plunges over 2%, what should be your strategy now-
By Rahul Shah
Markets took a breather after a ng time and volatility is in front seat again. Equity benchmark Index decline over 2% to close at below 22100 level, heading for the biggest decline since the week ended Oct. 29 on account of across the broad based selling in the market. However, there was bloodbath in the broader market after market regulator SEBI and AMFI.
A body representing the mutual fund industry, have directed fund houses to provide additional disclosures for small and mid-cap funds from this month. The additional disclosure parameters for mutual fund managers include valuation, volatility, investor concentration and stress tests. As a result, Nifty mid-cap and small cap Index nosedived 5% each. Nifty decline 470 points or 2.1% to close at 22023 against the previous week close.
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TVS Motor clocks robust growth in Q2; Should you buy, hold or sell TVS stock-
TVS Motor Company’s stock price surged by 1.56% to Rs 1634; however, it retreated later by 0.71% to Rs 1,597 a day the company posted a standalone net profit of Rs 537 crore in the second quarter of FY24, a 32% year-on-year (YoY) increase compared to Rs 407 crore in Q2FY23. The company reported a 13% year-over-year revenue increase, reaching Rs 8,145 crore in the second quarter ending on September 30, as opposed to the Rs 7,219 crore it had recorded in the corresponding period of 2022.
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TVS Motor Company’s share price gained 0.85% in the last five days, 4.53% in the last one month, 28.18% in the last six months and a whopping 49.11% year to date.
Should you buy, sell or hold TVS shares?
Jefferies: Buy – Target Price: 2,000
“We fine-tune FY24-25 EPS and see strong 35% EPS CAGR over FY23-26E; our FY24-…
Stocks to watch- Adani Green Energy, Adani Ports, Reliance Capital, Tata Power
Stocks in Focus: GIFT Nifty traded at 19,506.5 up 25.5 points or 0.13%, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously on Wednesday, the NSE Nifty 50 added 36.80 points or 0.03% to settle at 19,443.50, while the BSE Sensex gained 33.21 points to 64,975.61.
“NIFTY closed with a gain of 37 points at 19,444, while Sensex increased by 46 points to reach 64,989. showing a positive trend as investors eagerly anticipated Fed Chairman Jerome Powell’s upcoming speech. While Bank Nifty underperformed with a 0.18% drop to 43,659, the Realty and Pharma Indices shone, both exceeding a 1% gain. This suggests a favorable short-term outlook for Nifty, contingent on the confirmation of strength above the critical 19707 mark, with strong support at 19,225. The market’s positive sentiment is reinforced by Nifty’s 21 DMA at 19,408 and 50 DMA at 19,564, with the 200 DMA at 18665,” said Prashanth …
Stocks to watch- TCS, Tata Motors, Larsen & Toubro, BHEL
Stocks in Focus: GIFT Nifty traded flat at 19,607, up marginally 0.01%, indicating a flat opening for domestic indices NSE Nifty 50 and BSE Sensex. The NSE Nifty 50 gained 0.56% to settle at 19,545.75, while the BSE Sensex added as much as 405.53 points to 65,631.57.
“The positive signal from the PMI data and the correction in the crude price boosted the market sentiment. Reduction in FIIs selling rebound sectors like bank and IT shares today. While regarding RBI policy, positively, the market expects the interest rate to be hold-on as external demand outlook indicates muted trend fearing disinflationary trend in the future,” said Vinod Nair, Head of Research at Geojit Financial Services.
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Stocks to Watch on October 6, 2023
TCS
The IT major has been positioned as a Market Leader (Horizon 3) in the HFS Horizon…
Stocks To Watch- Reliance Industries, Aurobindo Pharma, ONGC, Bajaj Consumer, Bank of Baroda
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a muted opening on Monday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded higher as the index was up 22.50 points or 0.09% at 24,406 indicating a higher start for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 closed the session 250.50 points or 1.04% higher to settle at 24,367.50, while the BSE Sensex rose 819.69 points or 1.04% to close at 79,705.91.
Stocks to watch on August 12, 2024
Reliance Industries
Reliance Industries, India’s largest conglomerate, recently made news for a significant workforce reduction. A report by The Economic Times says that RIL let go of 42,000 employees in the fiscal year 2023-24, reducing its total workforce by 11% compared to the previous year. This big cut, especially in the company’s…
Rating- add – NMDC- Optimistic outlook for FY25
NMDC’s Q2FY24 EBITDA fell short of our expectations, primarily driven by lower realisations attributed to the increased volume contribution from Karnataka. Despite strong demand, alleviation of evacuation constraints resulted in a 25% y-o-y volume growth in in the first seven months of fiscal year 2024 (7MFY24). Consequently, we are revising our volume estimates upward by 5%/3% for FY2024/ 25E (estimates). In the short term, there is an upside risk to domestic iron ore prices, influenced by buoyant international iron ore prices. However, this may be partially offset by downward pressure on domestic steel prices. We revised our FV to Rs180 based on the rollover and improved earnings outlook.
Ebitda miss on lower realisations
NMDC posted revenues of Rs 4,010 crore (+21% y-o-y, -26% q-o-q), Ebitda of Rs 1,190 crore (+40% y-o-y, -40% q-o-q), and net profit of Rs 1,030 crore (+16% y-o-y, -38% q-o-q), falling short of our estimates of Rs 4,400 crore, Rs 1,350 crore, and R…