India's defence sector presents an ordering opportunity worth $138 billion between fiscal years 2023-24 (FY24) and FY32, said a latest note by Nomura, which has initiated coverage on two defence-related players - Hindustan Aeronautics (HAL) and Bharat Electronics (BEL) - with a 'buy' rating. The research and broking house sees an upside potential of 28 per cent and 32 per cent, respectively in these two stocks from the current levels.
The court rejected all petitions, including that against the conduct of the party's General Secretary election.
Jain irrigation has come out with a very strong set of numbers.
'How is the scheme running despite running such massive deficits?' 'This is because the number of new members are much more than earlier members who are drawing pension.' 'If this was done by a private organisation, it would have been called a Ponzi scheme in which the contribution by new members is being used to pay off old members,' says Harsh Roongta.
BJP veterans whom K Annamalai has reportedly sidelined are upset over his 'immature' way of handling allies, reveals N Sathiya Moorthy.
SBI Cards & Payment Services reported mixed results for the January-March quarter (Q4) of FY24. While it managed to deliver strong earnings growth, it saw a perceptible decline in net interest margin (NIM) and suffered deteriorating asset quality. Taken together, the market was disappointed with the share dropping 3.5 per cent.
Even as Srini Pallia, a Wipro veteran, is set to take charge as the chief executive officer (CEO) of the company, analysts expect the stock's underperformance to continue in the near-future. This, they believe, will be on the back of likely loss of market share, and difficult business environment. "We expect Wipro to underperform peers on growth once again in FY25 as channel checks and media reports suggest Wipro is losing share with select clients across multiple verticals.
NEET is a court-ordered examination, supposedly aimed at meritocracy. However, over the past years when the incumbent Narendra Modi government at the Centre began implementing it, it took on political and casteist colours, observes N Sathiya Moorthy.
The case of the two Shiv Sena factions for legitimacy and the party symbol, 'Bow and Arrow', is now before the Election Commission. Whichever way the EC findings go, the other can be expected to move the Supreme Court. They would need a final verdict before the parliamentary polls, points out N Sathiya Moorthy.
Even though Bharat Forge's performance in the July-September quarter broadly met Street estimates and defence orders are on the rise, the subdued outlook for its global business has prompted some brokerages to adopt a cautious stance on the company. Analysts have reduced the company's earnings per share (EPS) estimates to account for the slow recovery of its overseas subsidiaries. Valuations are also trading at long-term averages, which could limit potential upsides.
A new political crisis is brewing in the VK Sasikala camp in Tamil Nadu -- differences between Chief Minister Edappadi Palaniswami and party general secretary Sasikala.
This will incentivise employers to recruit unemployed persons and also bring into books the informal employees.
Indications are that the DMK combine will win more seats than the AIADMK and BJP, but is facing a tough fight in about half a dozen from the rest, predicts N Sathiya Moorthy of the electoral contest in Tamil Nadu.
The BJP often forgets that in Dravidian Tamil Nadu, the voter does not mix religion, which is personal, and politics that is in the public sphere, points out N Sathiya Moorthy.
There is no use of the BJP targeting the likes of Mamata Banerjee and M K Stalin, directly by the party's political bosses, both in Delhi and the respective state capitals, or even using the Raj Bhavans to fire those salvos from. Successive elections have proved that it's counter-productive, if anything. But the BJP is yet to understand it, acknowledge it, points out N Sathiya Moorthy.
Constituencies that are going to the polls in the first phase, slated for April 19, have just 19 days for campaigning. Contrast that with those going to polls in the 7th phase, notes N Sathiya Moorthy.
Meanwhile, the Congress and RSP whole-heartedly backed the Kollam MP.
Very often, 'sentiment' drives prices well beyond what is warranted and it is hard to forecast market sentiment, explains Debashis Basu.
Declaring the organisational poll results to top two posts, party's election official C Ponnaiyan said Panneerselvam and Palaniswami were elected unanimously, without contest to the posts of Coordinator and Joint Coordinator respectively.
Neither the ruling DMK nor the fractured AIADMK Opposition anticipated that an assembly by-election would put them both to test, observes N Sathiya Moorthy.
Aaliyah Qureishi juggles multiple hats as a musician, actor and social media influencer.
With the last quarter of 2023-24 (FY24) expected to have been soft owing to lower discretionary spend and macro uncertainty, many are hoping FY25 will be a year of recovery for the information-technology (IT) industry. The fourth quarter, January-March, is considered soft, and will continue to see the headwinds the sector has been facing. And the sector has entered the new financial year on a weak footing. Analysts are expecting Tier-I firms to report sequential growth of -1 per cent to 1.5 per cent and midcap players' growth may range between 0.7 per cent and 4 per cent.
Tamil Nadu's obsession for honorifics appears to be a never-ending story. The latest is the "Ezhuchi Nayagan" (rising leader) title for All India Anna Dravida Munnetra Kazhagam's new interim general secretary K Palaniswami, proposed by the party's presidium chairman Tamil Magan Hussain in Chennai on Monday.
There is an impression within the Tamil Nadu BJP -- although no one is airing it -- that over-exposure for Narendra Modi over the past months may work against party candidates, as they have triggered a near-continuous social media debate on his achievements and failures, points out N Sathiya Moorthy.
Post your financial planning queries for rediffGURU and financial planning expert, Colonel Sanjeev Govila.
The S&P BSE Midcap and the S&P BSE Smallcap indices have managed to stay afloat in a volatile January that saw the frontline indices hit their respective 52-week high levels and then slip. While the S&P BSE Sensex has lost over 2 per cent thus far in January, the S&P BSE Midcap and the S&P BSE Smallcap indices have gained nearly 2.5 per cent and 4 per cent, respectively during this period.
The Indian markets have seen a good run in the last three months with the S&P BSE Sensex rising around 7 per cent and the Nifty50 moving up 7.5 per cent. The next leg of the market rally from here on, analysts suggest, will be driven by a growth in corporate earnings over the next few quarters. That said, they do not expect material / sharp downgrades to India Inc's earnings estimates despite headwinds for the economy.
The All India Anna Dravida Munnetra Kazhagam's dominant Edappadi K Palaniswami (EPS) faction on Friday asserted that the system of dual leadership that vested powers on coordinator O Panneerselvam (OPS) and joint coordinator EPS ceased to be in force, a day after the general council stood firm on the single leadership demand.
Maruti Suzuki India (MSIL) will issue equity shares on a preferential basis to parent Suzuki Motor Corporation (SMC) to acquire 100 per cent stake in the latter's Gujarat plant. This deal is expected to increase the share base of MSIL by about 4 per cent. And consequently, it will raise SMC's shareholding in Maruti by around 1.8 percentage point. "Whether it is in terms of PAT (profit after tax) or earnings per share (EPS) or dividend per share (DPS) of MSIL, the share-swap option will give shareholders a better deal than any other option such as cash payment," MSIL chairman RC Bhargava told reporters during a press conference.
In the July to September quarter of 2023-24 (Q2FY24), Voltas' revenues grew by 29.7 per cent year-on-year (Y-o-Y), but the adjusted net profit was down by 63 per cent Y-o-Y. The revenues hit Rs 2,290 crore, led by growth in the Unitary Cooling Products segment (up 15.4 per cent Y-o-Y, and in the EMP (Electromechanical project) business (up 66.8 per cent Y-o-Y). The UCP revenue rose to Rs 1,200 crore in Q2FY24, driven by volume growth despite weak consumer spending - the three-year annual growth is 18 per cent.
The Wall Street major Morgan Stanley has upgraded India to "standout overweight" citing that the relative economic and earnings growth is improving and the macro-stability setup looks sufficient to withstand the higher real rate environment. "India remains standout overweight. "We increase our overweight stance on Indian equities and as our most-preferred emerging market," the brokerage said in a note on Friday.
Nifty50's earnings growth, estimated at 20 per cent by global research and brokerage firm Jefferies for financial year 2023-24 (FY24), will be amongst the top three in the Asian region, and is likely to outperform peers. Asean 40 index with 29.1 per cent estimated earnings growth and Straits Times Index (STI) with 29.1 per cent estimated earnings growth are the only two other indices in the Asian region that are likely to outperform India, suggests the recent Jefferies report, coauthored by Mahesh Nandurkar, their managing director along with Abhinav Sinha and Nishant Poddar.
Amid chaos, the All India Anna Dravida Munnetra Kazhagam general council meeting in Chennai on Thursday rejected all the 23 proposed resolutions and announced that the one and only demand of the GC members is to bring in a system of a single leadership for the party, favouring joint coordinator Edappadi K Palaniswami (EPS).
There is nothing to suggest that the DMK stands to gain from the AIADMK split nor is there anything indicative of an extraordinary advantage for the BJP, independently or in the company of the AIADMK, explains N Sathiya Moorthy.
A new era of Indian equity market outperformance compared to China "appears to be dawning", according to Morgan Stanley. The firm has upgraded India to overweight in its Asia Pacific-excluding Japan (APxJ) list, making it their most preferred market not only in the region but also in the global emerging market (GEM) pack. India now holds the top position in this category, with an overweight of 75 basis points, a significant increase from nil previously.
The power struggle in Tamil Nadu's main opposition party, the All India Anna Dravida Munnetra Kazhagam, appears set to go on for a long time with sidelined leader O Panneerselvam (OPS) approaching the Election Commission and the influential Edappadi K Palaniswami camp refusing to budge.
The BJP game-plan: Take the top slot, or a close second, either for the 'Lotus' or the larger NDA, if it can and push the AIADMK to the third place, explains N Sathiya Moorthy.
The Rs 17,000 crore-share buyback programme of India's top software services exporter Tata Consultancy Services (TCS) will open on December 1. The buyback, where investors can sell to the company their shares at an offer price of Rs 4,150 apiece, will close on December 7, TCS said in a regulatory filing on Tuesday. The information technology bellwether is aiming to repurchase up to 4.09 crore shares (1.12 per cent of the total equity share capital) at Rs 4,150 apiece in a buyback valued at Rs 17,000 crore.
ITC stock slipped over 4 per cent on Thursday (February 8) after British American Tobacco (BAT) said it could sell some of its stake in the company, recovering partially in trade. The stock of the cigarette-to-hotels conglomerate traded at Rs 420 levels, rising 1.3 per cent in intraday deals as compared to the S&P BSE Sensex that traded flat for most part of the day. The development, meanwhile, saw Jefferies downgrade the stock to 'hold' from 'buy' earlier with a target price of Rs 430, down a huge 17.3 per cent from its earlier price target of Rs 520.
The BJP has nothing to lose after a point. For the DMK it is a difficult choice, as it would not want to give too much of space to a 'national party' lest the 'Dravidian duel' of the past decades should be lost forever, observes N Sathiya Moorthy.
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