Markets

Broker’s call: Mahanagar Gas (Buy)

Target: ₹1,350 CMP: ₹1190.65 Mahanagar GasL’s Q4-FY21 results were broadly in line with our estimates underpinned by sustained recovery in volumes and elevated margins. We cut our FY-22 EPS to factor in lower near-term volumes, while retaining FY-23 estimates and Fair Value at ₹1,350. We reiterate Buy given: inexpensive valuations at nearly 11X FY2023 EPS; […]

Economy

ICRA Ratings expects pressure on logistics sector in near term

Pressure on earnings and credit metrics of logistics entities, especially the smaller, unorganised players, is expected to continue over the near-term, according to ICRA Ratings. However, growth over the medium-term is expected to gain momentum, said a release. With the impact of several cost-control initiatives like employee salary reduction, rental waivers, reduction in lorry hire […]

Markets

Sensex, Nifty end up in a range-bound trade

Benchmark indices closed in the green on Thursday. However, despite today being the expiry day for May contracts in the derivatives segment on the NSE, the market remained range-bound through the day.  The BSE Sensex, which hovered between 51,282.90 and 50,891.66, closed at 51,115.22, up 97.70 points or 0.19 per cent. Nifty 50 closed at […]

Technology

Affable.ai raises $2 million to boost adoption of its influencer marketing platform

Singapore-based martech start-up Affable.ai has raised $2 million from Prime Venture Partners, Decacorn Capital and SGInnovate. Affable’s AI-driven, self-service SaaS platform helps brands and agencies run high-impact influencer marketing campaigns and is being used by over 45 top brands/agencies, including Huawei, Wipro, Pomelo, Fresh, Omnicom, Dentsu, and WE Communications. The company tracks more than three […]

Markets

Day Trading Guide for May 28, 2021

₹1479 • HDFC Bank S1 S2 R1 R2 COMMENT 1465 1450 1495 1510 Make use of intraday dips to buy the stock while maintaining a fixed stop-loss at ₹1,465 levels ₹1404 • Infosys S1 S2 R1 R2 COMMENT 1392 1380 1415 1426 Initiate fresh long positions with a stiff stop-loss if the stock of Infosys […]

Economy

Budget wish list from logistics sector: digitisation, fuel under GST, some tax tweaks

Digitisation to bring in transparency while removing paper-based compliance requirements, bringing fuel under the purview of GST, accelerating infrastructure and tweaking recently introduced tax norms are some of the key demands from logistics players including Spoton Logistics, TCI, Pickrr and AIMTC ahead of the Budget. These demands come as Government looks to lower logistics costs […]

Technology

Facebook expands its Covid-19 Announcement tool to India

Facebook is expanding its Covid-19 Announcement tool to India, the social media major has announced. The tool is meant for the health departments of States and Union Territories to share essential Covid-19 related updates with their communities. “This is part of our ongoing efforts to support the public health authorities’ work to keep people safe […]