The US-China trade war, sluggish global economy and a prolonged subdued demand took the sheen of steel in recent times but brokerages and experts are now seeing a glint of revival in the sector.In a report on December 6, Edelweiss Securities said that the US-China trade war had not curbed steel trade in Asia. Besides, China’s production rate had likely peaked and the construction demand in the first half of the calendar year 2020 could even surpass the estimates.Also, low raw material prices are helping maintain the margins in China. All these factors augur well for steel manufacturers, as a stable market balance in China is critical for them.Close "Apprehensions of China upsetting the steel applecart are overdone due to limited capacity increase (38mt) through to calendar year 2023 and steady growth in construction and infrastructure segments, which is 52 percent of demand," said Edelweiss Securities. related news 'Investors with long-term horizon can look at … [Read more...] about Signs of recovery and hope; are steel manufacturers finally ready to shine?
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Subir RoyIt is hugely ironic that the Bharatiya Janata Party (BJP) government’s decision to speedily amend the Citizenship Act should be met with strong protests not just by key opposition parties for understandable reasons, but also by students across the Northeast, foremost being those in Assam, when they should have been the first to welcome it.The hurried move was prompted by the need to make the National Register of Citizens (NRC) work after the final shape of the Assam NRC was found to be deeply flawed by those who has fought for it over the years. The register, prepared under the supervision of the Supreme Court, was meant to fulfil the promise of the Assam Accord to record the citizenship status of all those who migrated into Assam until 1971, thereby establishing those who came thereafter as foreigners. In the event the Assam NRC excluded many who were not post-1971 entrant Muslim cultivators.Close When this flaw which excluded many indigenous Indians created an uproar … [Read more...] about Politics | Why the Citizenship Amendment Bill does more harm than good
Shares of Larsen and Toubro fell nearly a percent intraday on December 10 after Motilal Oswal reduced its target price by 8 percent as it expects lower order inflow and revenue growth.In fact, the stock lost more than 10 percent in last one month after brokerages started cutting target price of the stock, though they remained bullish on the same. It was quoting at Rs 1,274.50, down Rs 2.40, or 0.19 percent on the BSE at 1142 hours IST."We cut our core E&C EPS estimate by 1.5 percent/3.4 percent for FY20/FY21, incorporating lower order inflow/revenue growth assumption. Consolidated EPS has been cut by 1.3 percent/2.6 percent for FY20/FY21. We have also lowered our target P/E multiple on core business to 20x from 22x on account of macro uncertainties. Accounting for the current market price of listed subsidiaries, target price stands at Rs 1,680 (prior: Rs 1,830)," the brokerage said while maintaining buy call.Close Adjusted for the valuation of subsidiaries, the stock trades at … [Read more...] about Motilal Oswal cuts L&T target price on lower growth expectation
Shares of RBL Bank fell 2.8 percent intraday on December 10 as global brokerage house Morgan Stanley remained bearish on the stock citing asset quality concerns.The brokerage has an underweight rating on the stock with a target price of Rs 240 per share, implying 28.4 percent potential downside from current levels. Valuations at 1.5x FY21 appear unattractive, it feels.The stock has already lost 50 percent of its value in last six months, especially due to volatility over asset quality of the bank and weak guidance for second half of FY20.Close At the time of publishing this copy, RBL was quoting at Rs 330, down Rs 4.95, or 1.48 percent on the BSE. related news 'Investors with long-term horizon can look at increasing allocation in small & midcaps' Signs of recovery and hope; are steel manufacturers finally ready to shine? Morgan Stanley believes RBL Bank has strong longer term growth potential."The bank is in the early stages of growth; it remains one of the smallest in … [Read more...] about Morgan Stanley bearish on this private lender, expects 28% downside
Jeep is gearing up to update its lineup with BSVI-compliant engines. Among the first is the Compass, which is expected to get a BSVI-compliant petrol engine. The company has not revealed if it will offer the SUV with a diesel engine, but it is speculated that the new petrol motor will be more powerful than its predecessor.A test mule was recently spotted without camouflage, which was equipped with a 1.4-litre, MultiAir petrol unit which makes 170PS of maximum power and 250Nm of peak torque. It was supposedly mated to a 6-speed manual gearbox, which sends power to the front wheels.The Sport variant is expected to be equipped with a 5-inch touchscreen infotainment system with Uconnect, 16-inch steel wheels, quad halogen headlamps, height-adjustable driver’s seat, and remote keyless entry. It should also get safety equipment like driver and passenger airbags, traction control, ABS with EBD and hill assist.Close Currently, the SUV is priced between Rs 14.99 lakh and Rs 23.11 lakh … [Read more...] about Here’s what Jeep is planning to do with Compass in the coming days