Broker’s call: KEI Ind (Buy)
Target: ₹2,908 CMP: ₹2,415.20 We introduce FY26 estimates and upgrade the stock to ‘Buy’ from Hold as we roll forward to Sep’25E, revised TP of ₹2,908 @ 33x FY26 EPS (₹2,319 earlier). We met management of KEI Industries (KEI) to gauge the demand, competitive scenario and capacity constraints. The company has maintained its healthy revenue […]
Nifty Prediction Today–September 25, 2023: Bearish. Go short now and on a rise
Nifty 50 September Futures (19,675) Nifty 50 and Sensex continue to fall. The strong sell-off witnessed last week is spilling over this week as well. Both the indices are down about 0.28 per cent each. Nifty has room to test 19,600 and even 19,500 in the coming sessions. The price action thereafter will need a […]
AIFs may be allowed to issue P-notes from IFSC
The International Financial Services Centres Authority (IFSCA) is mulling allowing alternative investment funds (AIFs) to issue offshore derivative instruments (ODIs) or participatory notes from GIFT IFSC, said two people familiar with the matter. P-notes allow overseas investors to take indirect exposure to Indian securities without registering with the country’s market regulator. This year’s Budget recognised […]
Sudhakar Rao Desai re-elected to lead vegetable oil producers’ association
Sudhakar Rao Desai, Chief Executive Officer of Emami Agrotech Ltd, has been unanimously re-elected President of the IVPA (Indian Vegetable Oil Producers’ Association) at the 46th annual general meeting of the association. He has previously served as a member of the Organising Committee of Glob Oil, and as a member of the Product Committee of […]
Forex reserves fall to near 4-month low of $593.04 billion
India’s foreign exchange reserves fell for the second consecutive week to a near four-month low of $593.04 billion as of September 15, per data released by the RBI on Friday. Prior to this, the reserves were lowest as of May 26, 2023 at $589.14 billion, the Weekly Statistical Supplement data showed. For the week ended […]
SEBI eases norms for large corporates tapping debt market
The Securities and Exchange Board of India (SEBI) has provided for a number of relaxations to large corporates (LCs) for meeting their financing needs from the debt market. The regulator had mandated LCs to meet 25 per cent of their financing needs from the debt market, with an aim of deepening the corporate bond market […]
Gift Nifty indicates continued dominance of bears on D-Street
Bears will continue to have upper hand at the bourses on Thursday as high interest rates are here to stay. Global stocks, led by the US, are declining, after the US Federal Reserve said that the higher interest rates are likely to stay for at least one year. FOMC left policy rates unchanged at 5.25-5.50 per cent. […]
Tata Motors DVR may be included in global indices in November
The surge in its stock price and the narrower discount vis-a-vis ordinary shares could potentially lead to Tata Motors DVR’s inclusion in global indices in November, said analysts. While Tata Motors is a member of Nifty, Sensex and some global indices, Tata Motors DVR has a much smaller index membership due to its lower free […]
Organic Recycling Systems announces IPO
Organic Recycling Systems Limited, a company focused on environmental and waste management solutions, has announced its IPO for 25,00,200 equity shares, wherein each equity share with a face value of Rs 10 is priced at Rs 200, thereby aggregating to Rs 50.40 crore. The minimum lot size is 600 shares. The issue opens on September […]
Asian shares weaker ahead of Federal Reserve interest rate decision
Asian shares mostly declined in cautious trading on Tuesday ahead of the Federal Reserve’s looming decision on interest rates. Japan’s benchmark Nikkei 225 dropped 1.1 per cent in morning trading to 33,177.75. Australia’s S and P/ASX 200 lost 0.5 per cent to 7,192.40. South Korea’s Kospi edged down 0.3 per cent to 2,568.12. Hong Kong’s […]