BUSINESS
LTIM targets $1 billion in incremental revenue post-merger, what do brokerages say?
The company conducted its first analyst meet since the completion of LTI and Mindtree merger in November last year and discussed integration, synergies, growth drivers as well as the impact of the SVB collapse.
BUSINESS
Silicon Valley Bank collapse sends midcap tech stocks into the red
The decline in mid-cap Indian IT stocks Coforge and Mphasis is attributed to their exposure to US regional banks that have been impacted by the collapse of Silicon Valley Bank.
BUSINESS
Cipla shares hit 52-week low on reports of I-T probe into tax violations
The company’s shares hit a fresh 52-week low after alleged wrongful Tax claims and deductions worth Rs 1,700 crore.
BUSINESS
Lemon Tree Hotels jumps 5% after CLSA sees 34% upside
The company’s share price gained 5 percent after brokerage firm CLSA gave it a target price of Rs 102 per share implying a 34 percent upside potential.
BUSINESS
ICICI Lombard gains on RBI nod to stake sale deadline extension
The share price of ICICI Lombard gained more than 3 percent after RBI approved ICICI Bank’s request to extend deadline for divestment of its stake in ICICI Lombard until September 2024.
BUSINESS
L&T, HAL gain on signing supply contracts with defence ministry
Share prices of HAL and L&T gained after the companies on March 7 signed separate contracts for trainer aircraft and ships with the defence ministry
BUSINESS
Analyst Call tracker: Why has Bajaj Auto remained a street favourite this quarter despite export pressures?
Despite export challenges faced by Bajaj Auto over the last six months, it saw the highest number of ‘buy’ calls by analysts in the last quarter at 34, up 10 percent. The company’s ‘hold’ calls were down to 13 from 17 a quarter ago.
BUSINESS
Analyst Call Tracker: Why is Adani Ports still inspiring confidence among analysts?
Despite a strong sell-off of Adani Group stocks, Adani Ports and SEZ made it to the list of top 10 upgrades; it was also the stock on which analysts were most optimistic in the last month as well as quarter.
BUSINESS
Alembic Pharma rebounds, up 4% on USFDA nod to Fluorouracil injection
Shares of Alembic Pharma traded higher on Monday after the company received final approval from USFDA for its Fluorouracil Injection 2.5 g/50 mL (50 mg/mL) Pharmacy Bulk Vial.
BUSINESS
Nykaa shares tumble 2%; Macquarie sees 23% downside in stock
Nykaa’s share price were down 2 percent on Monday. Brokerage firm Macquarie has initiated coverage on the stock with an ‘underperform’ rating at a target price of Rs 115 per share, implying a downside of 23 percent from current levels. Macquarie’s target price for Nykaa is the lowest among brokerages covering the stock.
BUSINESS
Analyst Call Tracker: Why Bajaj Finserv earned street's optimism while HDFC Life faced highest downgrades in February
HDFC Life Insurance was downgraded due to a taxation proposal on high-value insurance policies. Bajaj Finserv drew positive sentiment because of its range of financial services and momentum towards digital transformation.
BUSINESS
Alembic Pharma falls 5% after board nod to Rs 1,150-cr impairment charges
Shares of Alembic Pharma hit a fresh 52-week low after the company’s board approved Rs 1,150 crore impairment charges for three manufacturing facilities in Gujarat.
BUSINESS
MOIL shares edge up on higher production and sales in Feb
Manganese Ore (India) Limited gained 3 percent after recording 10% YoY jump in production in the month of February.
BUSINESS
Analyst Call Tracker: RIL topped the list with max upgrades; Divi’s Lab saw most downgrades in last year
Bajaj Finance, Bajaj Finserv and Adani ports saw the highest upgrades over the past one quarter.
BUSINESS
Olectra Greentech jumps 9% on regulatory nod to electric tipper
Olectra Greentech has said the first order for 20 e-tippers is in the final stage of discussion and it will also launch variants of the e-tipper and electric truck shortly
BUSINESS
Sunteck shares gain after signing lease deal with Upgrad
The company for 29 years has leased 2 lakh square feet of a commercial building in Mumbai to Upgrad, which plans to set up a student housing facility. The project is expected to generate close to Rs 2,000 crore in revenue during the lease tenure
BUSINESS
Max Ventures share price rises after NCLT nod to ‘Delhi One’ project
Max Ventures shares gained 5 percent after subsidiary Max estates received NCLT approval on resolution plan submitted by the company for Boulevard Projects Private Limited.
BUSINESS
Mahindra Logistics shares sink 3% as CFO resigns
Shares traded lower as CFO Yogesh Patel tendered his resignation which will be effective from March 10
BUSINESS
Mastek shares rise on strategic alliance with Netail
The strategic partnership will help e-Commerce and Omni-channel retailers optimize their retail value-chain and thereby attract, convert, and retain digital consumers, a company filing said.
BUSINESS
Mahindra Lifespace stock falls 5% after CEO Subramanian's resignation
The company has named Amit Kumar Sinha as the new MD & CEO. Arvind Subramanian’s resignation will be effective from May 22
BUSINESS
Kanoria Chemicals shares up 5% on new plant announcement
The plant will be set up at the existing facility at GIDC, Ankleshwar in Gujarat and will come with the latest metal oxide-based technology, the company has said.
BUSINESS
RateGain stock price rises on partnership with HotelKey
The partnership is expected to integrate RateGain’s global distribution, central reservations and pricing capabilities with HotelKey’s PMS platform
BUSINESS
Jefferies turns cautious on chemicals sector on steep valuations, demand headwinds
The steep growth expectations have led to a cut in the consensus FY24 estimate despite strong Q3.
BUSINESS
PB Fintech shares jump as CEO reiterates profitability target
Shares of PB Fintech rose more than 4 percent on February 22 as CEO Yashish Dahiya reiterated the company's previous expectation of achieving profitability of Rs 1,000 crore by FY26/FY27.
