Anjali Rai

Gurgaon

Desk Writer at NDTV Profit

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SRF Gets 'Sell' Call From Citi On Concerns About Pricing And Demand

May 10, 2024 | ndtvprofit.com | Anjali Rai

Citi Research has downgraded SRF Ltd. ratings and cut the target price, citing concerns regarding the pricing and demand for refrigerant gas exports. Additionally, they anticipate that the ramp-up of specialty chemicals is likely to be back ended to the second half of the financial year 2025. The research firm has downgraded SRF to 'sell' from 'buy' and cut the target price to Rs 1,850 from Rs 2,675. Citi also revised its FY25 and FY26 Ebitda estimates downward by 20-23% due to several factors.
Global Funds Offload Nearly Rs 23,000 Crore In May So Far. Here's What Behind This Selloff

May 10, 2024 | ndtvprofit.com | Anjali Rai

Foreign institutional investors have sold over Rs 22,857 crore worth of Indian equities so far in May, citing volatility and uncertainty stemming from the Lok Sabha elections and the upcoming final Union Budget. Aditya Arora, the founder and a multi-asset research analyst at Adlytick.in, anticipates more market turbulence, dubbing it "erratic behavior".The decision of the US Federal Reserve to postpone rate cuts until year-end has le...
Citi Upgrades India To 'Overweight', Shifts China To 'Neutral' In Emerging Market Strategy

May 10, 2024 | ndtvprofit.com | Anjali Rai

India's strong earnings are bolstering its position, according to Citi Research, which has upgraded the country to 'overweight' in its emerging market allocation. Meanwhile, despite the recent rally in the world's second-largest economy, Citi Research downgraded China to 'neutral' due to the weakening fundamentals. "The emerging markets country strategy favours markets with inflecting earnings and strong earnings per share momentum," Citi Research said in a May 10 note.
Sula's Subdued Growth Outlook Leads To 40% Target Price Cut By CLSA

May 10, 2024 | ndtvprofit.com | Anjali Rai

CLSA expects pressure on Sula Vineyards Ltd.'s top-line and margins in FY25, and the revised wine industrial promotion scheme may have medium-term implications. "Growth is likely to be subdued in the near term," the research firm said in a May 10 note. The research firm downgraded the wine company from 'buy' to 'underperform' and lowered the target price to Rs 515 apiece from Rs 819 apiece, implying an upside potential of 4%.
Global Funds Offload Nearly Rs 23,000 Crore In May So Far. What's Behind This Selloff

May 10, 2024 | ndtvprofit.com | Anjali Rai

Foreign institutional investors have sold over Rs 22,857 crore worth of Indian equities so far in May, citing volatility and uncertainty stemming from the Lok Sabha elections and the upcoming final Union Budget. Aditya Arora, the founder and a multi-asset research analyst at Adlytick.in, anticipates more market turbulence, dubbing it "erratic behavior".
Brokerage Views: Nuvama On SBI, Citi On Asian Paints And More

May 9, 2024 | ndtvprofit.com | Anjali Rai

Brokerages from Citi to Nuvama have State Bank Of India, Punjab National Bank and Asian Paints Ltd. on their radars following the release of these companies' fourth-quarter results.NDTV Profit tracks what the brokerages are putting out on specific stocks. Here are all the top calls from the brokerages that you need to know about on Friday.
Asian Paints Declares Highest Dividend In Nearly 12 Years

May 9, 2024 | ndtvprofit.com | Anjali Rai

Asian Paints Ltd.'s board of directors has recommended a final dividend of Rs 28.15 per equity share of the face value of Re 1 for financial year 2024, subject to the approval of the shareholders at its ensuing 78th annual general meeting, according to an exchange filing on Thursday. The total dividend for the fiscal aggregates to Rs 33.30 per equity share of the face value of Re 1, including the interim dividend of Rs 5.15 per equity share that was approved by the board on Oct. 26.
India's Exports Remain Strong Despite Global Disruptions, Says Crisil

May 9, 2024 | ndtvprofit.com | Anjali Rai

India’s goods exports have fared well despite turbulence in the overseas markets, including disruptions on account of geopolitical issues. Upwardly revised global growth forecasts and a better trade volume growth forecast by the World Trade Organisation bode well for India’s exports going ahead, according to Crisil. India’s push for bilateral free trade agreements and its ambition to grow its manufacturing sector should also support goods exports in the near term.
Tata Chairman N Chandrasekaran Warns Of Continued Supply Chain Disruptions For IT Sector

May 9, 2024 | ndtvprofit.com | Anjali Rai

Global environment around the world continues to go through significant shifts as the pandemic resulted in supply chain shocks due to economic slowdown especially in developed markets. As initial signs of stability began to emerge, the further intensifying of military conflicts in West Asia this year continues to impact the global supply chains, said N Chandrasekaran, chairman of Tata Sons and Tata Consultancy Services Ltd.
Promoter Pledged Holdings In BSE 500 Stocks Slip: Kotak Institutional Equities

May 8, 2024 | ndtvprofit.com | Anjali Rai

Pledged holding by majority shareholders of S&P BSE 500 index fell marginally to 1.10% in the March 2024 quarter from 1.17% in the December 2023 quarter, according to Kotak Institutional Equities. Promoters of 73 companies in the BSE 500 gauge have pledged part of their holdings in the March 2024 quarter. The value of these pledged promoter holdings stood at Rs 1.96 lakh crore, about 0.56% of the total BSE 500 index’s market capitalisation, a May 7 note said.