Markets

Broker’s call: Sun Pharma (Hold)

Target: ₹720 CMP: ₹669.65 We downgrade Sun Pharma to Hold as we believe current valuations amply captures all the upside related to specialty. The stock is trading at one-year fwd PE of 28x. We value it at 24x PE on our FY23 EPS and add SCD044 NPV of ₹15 to arrive at a target price […]

Economy

Quad meet: Ministers agree to combat Covid through better access to vaccines, medicines

Foreign Ministers from India, Australia, Japan and the US have said they are committed to cooperate in combating Covid-19 through measures including enhanced access to affordable vaccines, medicines and medical equipment. The third Ministerial meeting of the ‘Quad’ countries also focussed on responding to climate change and taking forward cooperation in areas such as maritime […]

Markets

Broker’s call: Nocil – The Hindu BusinessLine

Target: ₹251 CMP: ₹201.95 We increase our estimates for FY22/23 as we increase our volume and realisation assumptions. Demand environment improved in domestic and international markets, given strong tyre demand coupled with improving pricing environment that augurs well for the space. For FY21, volumes improved 14 per cent y-o-y as company maximised volumes post capacity […]

New Article

Gujarat Discoms Sign Pacts For 3 979 Solar Projects With 2 500 MW Capacity

Gujarat’s four public-owned electricity distribution companies have signed power purchase agreements (PPAs) for 3,979 small-scale distributed solar projects with aggregate capacity of 2,500 MW, the government said on Saturday. These small-scale distributed solar projects, to be commissioned within the next 18 months, will bring in an investment of over Rs 10,000 crore in the state […]

Markets

Broker’s call: TTK Prestige (Buy)

Target: ₹9,897 CMP: ₹8806.40 Despite the challenging times, TTK Prestige has emerged stronger in FY21 and is set to benefit from a shortening replacement cycle and rising demand for kitchen upgradation. As a result, it can clock a 15-17 per cent CAGR in the next few years, which would be supported by EBITDA margin expansion […]

Economy

Rice, wheat procurement cost ₹2.5-lakh cr: Goyal

The newly created Central Consumer Protection Authority (CCPA) has so far issued 77 show cause notices to companies on violations relating to Packaged Commodity Rules, including provisions of Country of Origin, Consumer Affairs Ministry said on Thursday. While five companies have compounded these offences, other complaints are under various stages of action, the Ministry added […]