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On June 10, IDFC Ltd, through its wholly owned subsidiary IDFC Financial Holding Company Limited (IDFC FHCL), "completed the transaction for sale of its 100 percent equity stake held in IDFC Securities Ltd to Dharmesh Mehta along with other investors after obtaining all necessary regulatory approvals", the company said in a regulatory filing.
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Strategic options include divestment of stake in Coffee Day Global and other group company, according to a regulatory filing by the company.
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Research and broking house IDFC Securities has a buy on Coal India with a target of Rs 310 and expects EBITDA CAGR of 21 percent over FY17-20 with dividend per share of Rs 19 and Rs 23 for FY18 and FY19 respectively.
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IDFC Securities is of the view that AD/subscription revenue for Zee Entertainment is likely to grow at CAGR of 15 percent and 16 percent over FY17-19 while iit has cut the earnings estimates of the company by 3 percent over FY18-19.
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IDFC Securities expects Ashok Leyland to expand market share by 100 bps over FY17-20 and has maintained an outperform rating on the stock with a target price of Rs 135.
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At a time when analysts are scared of getting their hands in pockets like pharma and IT, Infosys, Torrent, Adani Ports, Hindalco, CEO & Head- Institutional Equities, at IDFC Securities express his confidence in export-oriented theme as most of the stocks he picked up belong to pharma and IT sector.
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Analysts expect the USFDA observations to cause further delay in resolution of the warning letter issued in 2015 and blocking hopes of new approvals filed from the facility for US market in the next one year.
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Marksans Pharma, on February 20, announced that it has successfully completed UK MHRA inspection for its Goa facility without any critical observations. The company is now awaiting further instruction from the agency on the way forward
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Most analysts noted that the Q3 results were below their estimates, but maintained their buy rating on the stock revising the target price slightly on lower side on hopes of Halol resolution, US specialty play kicking in and normalisation of India business.
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Here are top stock picks recommended by brokerages post Budget 2017.
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This will be the first time in 92 years that there will be no separate Railway Budget but the provisions related to India‘s largest transport services provider will form part of the main Union Budget.
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Although policy changes may be kept to a minimum in Finance Minister Arun Jaitley's Budget speech for the oil and gas sector, changes in the cess rates for oil production may prove to be a positive for the sector, suggest reports.
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While impact of GST rollout and pace of economic recovery after demonetization are known domestic variables, Trumponomics and the impact of protectionist policies adopted by several developed economies remain key global uncertainties.
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Anish Damania of IDFC Securities is positive on Sun Pharmaceutical Industries.
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Anish Damania of IDFC Securities is of the view that one may prefer AIA Engineering.
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Watch the interview of Anish Damania of IDFC Securities with Anuj Singhal and Sonia Shenoy on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.
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Speaking to CNBC-TV18, Shashi Bhusan of IDFC Securities said that he expected a weak performance from both TCS and Infosys.
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The demonetisation drive has taken a toll on the market and Anish Damania of IDFC Securities says that the market may not see recovery soon and there will be three quarters of dismay.
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Watch the interview of Ashwani Gujral, Mitesh Thacker, Prakash Gaba, Rajat Bose, Anish Damania, and VK Sharma with Latha Venkatesh and Sonia Shenoy on CNBC-TV18, in which they shared their readings and outlook on market technicals, fundamentals and F&O side of the market as well as specific stocks and sectors.
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Speaking to CNBC-TV18 Shobhana K Pattanayak, Agriculture Secretary, affirmed that the agriculture sector is doing well. “We have had a bountiful monsoon and we expect a bumper production this year. We have covered about 226 lakh hectares.â€
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In an interview with CNBC-TV18, Amit Rustagi, Oil and Gas Analyst at IDFC Securities said that refineries that manufacture naptha and fuel oil to industries can see a domestic demand slowdown due to demonetisation.
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On similar lines, Shashi Bhusan of IDFC Securities, in conversation with CNBC-TV18, said that the downgrade in the overall growth expectation in the IT sector has been in the range of 3 to 5 percent for most of the companies.
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Shirish Rane, Head of Research, IDFC Securities speaking about the impact of demonetisation by the government said demand, particularly that created by unaccounted money, is sure to be impacted.
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Anish Damania of IDFC Secuirities, says that Non-Banking Financial Companies (NBFCs) could be majorly hit. Auto and consumer discretionaries will be impacted too.
