Finshorts
SBI Mutual Fund acquired a 0.54% stake (6.41 lakh shares) in Alkem Laboratories for ₹300 crore at ₹4,680 per share, increasing its holding to 2.7% from 2.16%. The transaction, executed via an open market deal, saw shares offloaded by the Samprada & Nanhamati Singh Family Trust. This move signals strong institutional interest in the pharma … Read more
Auto stocks tumbled on Friday, with Mahindra & Mahindra falling 6% and TVS Motor dropping 3.8% amid reports of the government considering reducing import duties on electric vehicles from 110% to 15%. The move, aimed at facilitating Tesla’s entry, raised concerns over intensified competition. The Nifty Auto Index declined 2.58%, dragging stocks like Tata Motors, … Read more
Adani Energy Solutions received a ‘Buy’ rating from Elara Securities with a target price of ₹930, implying a 37% upside. The brokerage expects earnings before interest, taxes, depreciation, and amortization (EBITDA) to grow 26% annually and earnings per share (EPS) to rise 29% by FY27. Key growth drivers include India’s renewable energy expansion, rising transmission … Read more
Goldman Sachs warned that US President Donald Trump’s plan to impose reciprocal tariffs on trade partners, including India, could reduce India’s GDP by 0.1-0.6%. The US might impose tariffs based on country-wise or product-wise reciprocity. Another possible approach could involve non-tariff barriers like administrative rules.
The rupee appreciated 19 paise to 86.79 against the US dollar in early trade on Thursday, supported by a decline in crude oil prices and a weaker dollar index—however, foreign fund outflows and a weak domestic equity market limited gains. The rupee faces resistance at 87.20, with support at 86.50. Investors remain cautious amid global … Read more
The Indian stock market witnessed a volatile session on Wednesday, with benchmark indices ending nearly unchanged. The Sensex closed at 75,939.18, slipping 28 points or -0.04%. During the day, it touched a high of 76,338.58 and a low of 75,581 before settling flat.
Foreign institutional investors (FIIs) bought ₹4,786 crore worth of shares on February 18, reversing their selling trend, while domestic institutional investors (DIIs) net purchased ₹3,072 crore. The shift was partly driven by an ₹8,475 crore Bharti Airtel block deal. Market sentiment improved as FIIs showed renewed interest, but they remain net sellers of ₹1.15 lakh … Read more
Investment Information and Credit Rating Agency (ICRA) expects India’s GDP to grow 6.4% in Q3 FY25, up from 5.4% in Q2, supported by strong government capital expenditure and export recovery. Sectors like mining and electricity improved, while festive demand helped some consumer-focused industries. However, uneven consumption remains a concern. The National Statistical Office will release … Read more
Bajaj Consumer Care will acquire Vishal Personal Care, owner of Banjara’s, for ₹108.3 crore to strengthen its presence in South India. The deal, executed in two tranches, will expand BCCL’s distribution network and introduce Banjara’s products in Hindi-speaking markets. This acquisition aligns with BCCL’s growth strategy in the Ayurvedic and personal care segment, potentially boosting … Read more
Reliance Industries has jumped 11 places to rank 2nd in the FutureBrand Index 2024, ahead of Apple, Nike, and Microsoft. The ranking evaluates global companies based on brand perception and future readiness. Samsung leads the list, with Reliance as the only Indian company featured. This recognition reinforces Reliance’s strong brand positioning and long-term growth potential, … Read more