KEC International share price gained 2.5 percent in the morning trade on December 12 after Japanese brokerage Nomura initiated coverage on the stock, with a buy call and a target price of Rs 388, implying a 40 percent potential upside from current levels."The company's focus on growth with stable margins offers comfort and rising market share amid reduced competition is a key catalyst," the research house said.Nomura expects a strong near-term growth and estimates 23 percent EPS CAGR over FY19-22 with broadly stable margin.Close KEC International last week secured orders worth Rs 1,025 crore in transmission and distribution, railways, and cable segments. related news Cadila Healthcare gains 4% on launch of anti-diabetic tablet in India Cipla share price up 2% after associate firm submits application to USFDA for IV tramadol "Our order book in India continues to grow, despite the general headwinds in the country. These orders, along with the orders announced earlier … [Read more...] about KEC International share price up 2% after Nomura initiates coverage with buy call
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Global brokerage house Morgan Stanley has an overweight call on the country's largest power producer NTPC with a target price of Rs 152 per share, implying a 34.5 percent potential upside from current levels.The stock rallied 1.6 percent intraday on December 12.The research firm believes the share price will rise in next 15 days. "Five out of six plants contributed to under-recoveries in FY19/H1FY20 have improved," it said.Close Adani Ports related news Ujjivan Small Finance Bank: Should investors buy, sell or hold after the bumper listing? Initiating coverage: HDFC AMC and M&M among 10 stocks that could return 10-40% in 2020 Equity inflows drop but SIP figures at all-time high; what should you do? Shares of Adani Ports and Special Economic Zone also gained 1.7 percent intraday on December 12 after the brokerage remained bullish on the stock.While having an overweight call on the stock with a target price of Rs 433 (potential upside of 17 percent), Morgan Stanley feels … [Read more...] about Morgan Stanley bullish on NTPC, Adani Ports and L&T Infotech
Housing Development Finance Corporation (HDFC) became the fifth company to cross Rs 4 lakh crore in market capitalisation on December 12, 2019.Oil-retail-to-telecom major Reliance Industries retained its top slot with a market cap of Rs 9.93 lakh crore followed by top Indian IT company TCS (Rs 7.8 lakh crore), second largest private sector lender HDFC Bank (Rs 6.9 lakh crore) and FMCG major Hindustan Unilever (Rs 4.3 lakh crore).With this, now two companies from HDFC Group have entered into the top list of high market cap.Close Currently, four companies are listed from this group including HDFC AMC and HDFC Life Insurance, and their combined market cap stood at Rs 12.75 lakh crore which experts feel likely to cross Rs 13 lakh crore soon. Their market cap was Rs 11.66 lakh crore in May this year. related news BPCL rallies 3% as report suggests roadshows likely to be conducted RSWM share price at 52-week low on rating downgrade According to media reports, non-banking … [Read more...] about HDFC becomes the 5th firm to cross Rs 4 lakh crore in market cap
The BSE IT pack was trading in the negative on December 12 afternoon, as index majors such as Infosys, HCL Technologies and Wipro saw a drop in share prices. However, gains in the shares of Tata Consultancy Services (TCS), Mphasis and Tech Mahindra capped the losses for the index.Experts said the rupee's rise against the US dollar could be the reason for the weakness in the IT pack. The Indian currency traded at a month-high of 70.63 after opening higher by 15 paise at 70.69 per dollar against December 11 close of 70.84.Brokerages, however, are mostly positive on the IT pack for the long term.Close "Record deal-wins, sustained deal pipeline momentum and upbeat management commentaries on the demand side strengthen our conviction in the Indian IT’s solid earnings trajectory," said Edelweiss Securities. related news BPCL share price jumps 2% despite rating revision by Moody's, CRISIL Cadila Healthcare gains 4% on launch of … [Read more...] about Rising rupee pulls IT pack down, Infosys, HCL top drags
Ujjivan Small Finance Bank listed with a massive 56 percent premium over its issue price on December 12 despite volatility in the market.The stock touched an intraday high of Rs 62.8 on the National Stock Exchange (up 70 percent) after opening at Rs 58.75 against IPO price of Rs 37. The bumper listing was on expected lines given the strong response received for the company's IPO.Combined volume on BSE and National Stock Exchange was more than 20 crore equity shares.Close Ujjivan Small Finance Bank (USFB) is a subsidiary of microfinance lender Ujjivan Financial Services. related news Morgan Stanley bullish on NTPC, Adani Ports and L&T Infotech Initiating coverage: HDFC AMC and M&M among 10 stocks that could return 10-40% in 2020 Most experts are now advising investors to hold the stock for longer term on the back of good fundamentals. Though some suggest investors can do partial profit booking and hold the rest for longer term."Ujjivan SFB's … [Read more...] about Ujjivan Small Finance Bank: Should investors buy, sell or hold after the bumper listing?