Moneycontrol Selects: Top stories this morning

A round-up of the big stories

Sun Pharma's healthy Q2, stellar specialty sales impresses brokerages, triggers hikes in target prices

Pharmaceutical major Sun Pharma's healthy Q2 backed by its industry-beating performance in the domestic market and stellar global specialty sales have impressed brokerages across the board, prompting some of them to raise their target prices for the stock. Brokerages like Nuvama Institutional Equities and Citi have raised their price targets for Sun Pharma post its Q2 results. Here is a full report.

Vodafone Idea gets Rs 2,000 crore from HDFC Bank; meets SUC payment obligations

HDFC Bank, India's largest private sector lender, has extended a loan of Rs 2,000 crore to Vodafone Idea (Vi) to assist the beleaguered telco in addressing its pending license fees and fulfilling its 5G spectrum payment commitments. Read more.

India much more than consumption story; global leadership next step for Indian cos, says Anish Shah of Mahindra Group

Anish Shah, the Managing Director and CEO of the Mahindra Group, firmly believes that companies like the one he leads have the immense potential to compete against global giants, not only in the domestic but also in the overseas markets. According to him, it marks the beginning of a new era where Indian brands are now aspirational and can even be featured among the global pecking order across various categories. Here's the full story.

MC Selects

IT Mid-caps outshine large peers, gaining FIIs' interest; time to consider Cyient, PSYS for your portfolio?

Indian midcap IT companies have outperformed their large-cap counterparts in the past 1-2 years, driven by robust sales growth and profitability. Notably, Q2 FY24 saw mid-tier IT firms like Persistent Systems, Cyient, and Coforge outshining tier-1 giants such as TCS, Infosys, Wipro, HCL Tech, and Tech Mahindra, thanks to a post-pandemic surge in digitalisation and increased tech spending. Read more.

Sensex surges nearly 1%, Nifty back above 19,150; here's what is pulling share market higher

Bulls took charge on Dalal Street as benchmark Indices Nifty and Sensex jumped nearly 1 percent on November 2 as markets cheered US Fed's decision to keep interest rate steady. Risk-off sentiment in domestic equities eased as Fed Chair Jerome Powell hinted that the US central bank may now be finished with the most aggressive tightening cycle in four decades. While Sensex rose nearly 600 points, broader Nifty surged past 19,150, tracking gains in global markets. Read more.