In the hierarchy of things New York City residents kvetch about, housing ranks near the top. A dearth of affordable apartments has the city in a stranglehold and there’s seemingly no end to escalating rents. (Good luck finding a studio in Manhattan for less than $2,300 per month, the average going rate in the borough.) To tackle this problem, former mayor Michael Bloomberg staged a competition in 2012 to design a micro-units development. In just three years, the experimental buildings have hit the market. But is it enough to alleviate the affordable housing crisis? Short answer: it opens the conversation about retooling the city’s supply of apartments, but it’s not exactly a panacea for NYC’s housing headaches. advertisement advertisement Designed by the Brooklyn-based firm nArchitects, Carmel Place (formerly known as MyMicro) is located in Kips Bay, a neighborhood on Manhattan’s east side, familiar to many as “The place where that movie … [Read more...] about Micro Apartments: Utopia or Dystopia?
Share prices of insurance companies rallied 2-8 percent in the morning trade on December 10 after a media report said that the government may raise the foreign direct investment (FDI) limit in the sector.HDFC Life Insurance Company, SBI Life Insurance Company and ICICI Prudential Life Insurance Company gained more than 2 percent each, while General Insurance Corporation of India climbed 4 percent and New India Assurance Company rose 7.8 percent."The government may raise the overseas investment limit in insurance to 74 percent in the February budget, up from 49 percent now, possibly paving the way for foreign control of companies," The Economic Times quoted people with knowledge of the matter as saying.Close The Insurance Regulatory and Development Authority of India (IRDAI) sought the views of stakeholders in a December 2 letter on the direction of the government. The letter, to insurance companies and others, has called for suggestions on raising the FDI … [Read more...] about Insurance stocks gain 2-8% on report of likely increase in FDI limit
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
The market always has stock opportunities whether it is a bull, bear or consolidative phase, say experts. It is for the investor to pick the right stock at the right time and the right price.Ever since the government took a raft of measures, including a cut in the corporate tax rate, experts have turned more bullish, though the market seems to have already priced in expected earnings growth. The benchmark indices have rallied 13 percent since September 20, the day the corporate tax was lowered.Most experts expect earnings and economic growth to pick up in the next financial year, though Q2 GDP pointed to a deepening slow down in the economy. The third quarter is unlikely to be better, considering the weakness across major sectors.Close Experts do not see a major improvement in earnings this year and GDP growth could be well below 5 percent. They, however, do expect double-digit earnings growth next year, with around 6 percent growth in GDP though on a low base of last year. … [Read more...] about Brokerages bullish on these 10 multi-cap stocks; expect 14-121% return in 8-15 months